June 29, 2008

SUBPRIME SIX UPDATE: More on Chris Dodd’s Countrywide mortgage deal, in the Hartford Courant. “Dodd declared he will not trust our leaders unless he gets to see certain national security documents. Dodd insists, however, that we trust him when he says he didn’t know he received special treatment when he borrowed nearly $800,000 from Countrywide Financial Corp. in 2003. Dodd continues to refuse to release the standard documents (commitment letters, good-faith estimates of costs and fee summaries) that accompany every residential mortgage. They might confirm Dodd’s contention that he received the same deal that anyone shopping the rates could have secured in the spring of 2003. Or maybe they won’t.”