Angelo Mozilo | |
|---|---|
 Mozilo in 2002 | |
| Born | Angelo Robert Mozilo December 16, 1938 New York City, U.S. |
| Died | July 16, 2023 (aged 84) Montecito, California, U.S. |
| Alma mater | |
| Occupation | Business executive |
| Employer | Countrywide Financial |
| Spouse |
Phyllis Ardese
(m. 1961; died 2017) |
| Children | 5 |
Angelo Robert Mozilo (December 16, 1938 – July 16, 2023) was an Italian American mortgage industry banker who was co-founder, chairman of the board, and chief executive officer of mortgage giant Countrywide Financial until July 1, 2008. Mozilo retired shortly after the sale to Bank of America for a total of $4.1 billion in stock.[1][2] The company's status as a major lender of subprime mortgages made it a central player in a subsequent mortgage crisis which collapsed the industry, bursting a housing bubble which had accumulated throughout the 2000s, and contributing heavily to the Great Recession. Mozilo later paid over $67 million in fines to settle a series of federal charges related to his conduct at the company. While Mozilo is often mentioned in connection with the 2008 housing crisis, he remains highly regarded among many mortgage and housing industry leaders and insiders.[3]
- ^ "Bank of America wins approval to buy Countrywide". June 6, 2008.
- ^ Reckard, E. Scott (July 1, 2008). "His star tarnished, Mozilo exits stage". Los Angeles Times. Archived from the original on June 8, 2023.
- ^ https://nationalmortgageprofessional.com/news/ex-countrywide-ceo-angelo-mozilo-dies-84 [bare URL]