[quote=threadkiller]Wasn’t the SEC knocking on Countrywides door about 5 or 6 years ago. I vividly recall a representative of Countrywide telling me then that low income people could get a better rate than middle income people and I of course pointed out to her that that is not right/fair. Lately I’ve been paying more attention to stocks,yes I’ve crossed over to the dark side, I’m now a registered Republican.[/quote]
SEC made Angelo Mozillo pay a huge fine (but admit no wrong doing. It was something like 65 Million – of which Countrywide covered 20 million – and Angelo had to dig up 45 million from his estimated 600 million fortune.

Ironically – BofA just settled a countrywide related suit for $335 million. Not for lending to lower income people with more favorable terms than middle class people – but for being discriminatory in their lending to minorities… pushing minorities into crappier loans. Kind of runs contrary to what you were told by that countrywide rep.