BofA Subpoenaed Over Countrywide Loans

The head of the House of Representatives oversight committee issued a subpoena on Wednesday to Bank of America Corp (BAC) for information about mortgage lender Countrywide’s home loans program for so-called VIPs. The subpoena is the latest in a two-year probe by U.S. Representative Daniel Issa, chairman of the committee, into Countrywide’s mortgage program that allegedly gave better loan terms to allies of former CEO Angelo Mozilo. The program was known informally as the “Friends of Angelo” inside the mortgage lender. – Reuters

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