1 minute readThe Securities and Exchange Commission (SEC) may soon bring civil fraud charges against Angelo Mozilo, co-founder of Countrywide Financial, which folded into the Bank of America (BAC) name as part of the recent mortgage operations rebranding initiatives there. The SEC weeks ago sent a memo to Mozilo warning him of the likely charges, unnamed sources told the Wall Street Journal. The charges may include allegations of insider trading and failure to provide shareholders with material information, the WSJ‘s sources said. The charges point toward the $130m in Countrywide stock Mozilo sold in the first half of ’07, compared with the $60m sold in the year-earlier period, according to securities filings, although Mozilo’s lawyer told WSJ any inferences drawn about his adverse knowledge of the company for insider trading are unfounded. BofA purchased the giant mortgage lender and servicer last July. Write to Diana Golobay at [email protected]. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Smith Douglas Homes Doubles Down On Pace And Growth
While many homebuilders, such as D.R. Horton and Tri Pointe Homes, significantly reduced the number of new home starts over the last quarter amid sluggish homebuyer demand, Smith Douglas Homes Corp. is taking a different approach, akin to that of Lennar. Pace over price. The builder’s strategy reflects a commitment to affordability and serving the […]
Mar 18, 2026
-
Mortgage rate declines are raising the likelihood of a refi surge
Mar 19, 2026 -
Homebuilders Urged To Invest In Frontline Jobsite Workers Now
Mar 19, 2026 -
How hybrid operations are elevating builder performance
Apr 30, 2026 9:50 am -
HousingWire Mortgage Rankings have arrived, bringing data-driven benchmark to originator performance
Apr 30, 2026 -
After An Involuntary Pause, Orders Matter Again For LGI
Mar 20, 2026
Latest Articles
HousingWire Mortgage Rankings have arrived, bringing data-driven benchmark to originator performance
HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
