(Reuters) - Mozilo, the son of a butcher who built Countrywide into the largest U.S. mortgage lender, is used to receiving handsome compensation. Over the past five years, Mozilo has received $387 million from pay and stock option gains.
After Wednesday's close, shares of Countrywide were down 12 percent since the mortgage lender reported on Tuesday morning that second-quarter profit tumbled 33 percent. Mozilo blamed a rising wave of homeowners missing loan payments, forcing the company to slash its 2007 forecast.
Read more at Reuters.com Bonds News
After Wednesday's close, shares of Countrywide were down 12 percent since the mortgage lender reported on Tuesday morning that second-quarter profit tumbled 33 percent. Mozilo blamed a rising wave of homeowners missing loan payments, forcing the company to slash its 2007 forecast.
Read more at Reuters.com Bonds News
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