Angelo Mozilo, Mortgage Banker Faulted in Crisis, Dies at 84 (2)

Angelo Mozilo, who propelled Countrywide Financial Corp. to become the largest US mortgage lender during the housing boom only to see the company crash in the 2008 financial crisis, has died. He was 84.

He died on July 16 of natural causes, said his son, Mark.

The housing bubble that burst in 2008, sending the US economy into a recession and erasing almost $8 trillion in value from the stock market, was built on exceptionally cheap and available credit extended to homebuyers along with creative options to repay their debt. Countrywide was a pioneer in the field, and, fairly ...