Dodd, Kent Received Special Loans From Controversial Mortgage Lender, Report Says

Washington, D.C. (AHN) - Sens. Chris Dodd (D-CT) and Kent Conrad (D-ND) have been identified as one of five current and former government officials who received special loans from controversial mortgage lender Countrywide Financial.

Condé Nast Portfolio reported on Thursday that Dodd and Kent, who chair the Senate Banking Committee and the Senate Budget Committee, respectively, were part of the mortgage lender's V.I.P. loan recipients who "received better deals than those available to ordinary borrowers."

Dodd and Kent allegedly belong to a group, which includes Housing Secretary Alphonso Jackson and former U.N. ambassador and assistant Secretary of State Richard Holbrooke, that Countrywide Financial called "F.A.O.s" of Friends of Angelo. The name refers to the company's chief executive, Angelo Mozilo.

The report raises questions about the ethics of receiving special loans while in public office. An earlier report this week by the Wall Street Journal had revealed that former Fannie Mae CEO Jim Johnson had similarly received favorable loans from Countrywide Financial. The Journal story became a central issue on the presidential campaign trail and Johnson had to resign his post as part of Sen. Barack Obama's (D-IL) vice presidential search committee.

Dodd spokesman Bryan DeAngelis told the Journal on Friday, "The Dodds received a competitive rate on their loans. They did not seek or anticipate any special treatment, and they were not aware of any."