“It is astonishing that one single company could be responsible for overcharging more than 450,000 homeowners, which is more than 1 percent of all the mortgages in the United States,” Jon Leibowitz, then chairman of the trade commission, told me in a 2011 interview after Countrywide settled the case. Its business model was “based on deceit and corruption, and the harm they caused to American consumers is absolutely massive and extraordinary.”
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