One of Obama's vice-presidential search committee members, Jim Johnson, has ties to Countrywide.
James Johnson, one of three people tapped by Mr. Obama recently to oversee the search for his running mate, took at least five real estate loans totaling more than $7 million from Countrywide Financial Corp. through an informal program for friends of the company's CEO, Angelo Mozilo, the Wall Street Journal reported Saturday. The Journal said at least two of the mortgages, among a series of loans made available to people Countrywide officials called "friends of Angelo," were at rates below market averages, though it is difficult to predict a market rate without access to nonpublic information about a borrower's credit history and other factors that can reduce interest charges on a loan.
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