Don Bauder 7:30 a.m., Dec. 9
Countrywide's Mozilo To Keynote USD Real Estate Conference
The Burnham-Moores Center for Real Estate at the University of San Diego has snatched a speaker who should jam 'em in at the center's twelfth annual real estate conference Jan. 22 at the San Diego Marriott Hotel and Marina. That speaker will be Angelo R. Mozilo, chairman and chief executive of Countrywide Financial, Calabasas, the nation's largest mortgage lender. Rumors that the company would go into bankruptcy drove its stock down 28 percent to $5.47 yesterday. The rumors, which were denied, were one factor in a general market selloff. The stock dropped another 7.68 percent today (Wed., Jan.9) to $5.05. The high this year was $45.26. The company lost $1.2 billion in the third quarter. Mozilo has been under a Securities and Exchange Commission informal probe for dumping a bundle of stock last year before the mortgage crisis hit. USD says Mozilo is "uniquely qualified to make sense out of the residential mortgage market malaise."