Nearly 100 Senators Disclose Their Mortgage Information

June 26 2008No Commented

Categorized Under: General mortgage information

Presented with public records Wednesday, Cantwell spokeswoman Ciaran Clayton said that Cantwell originally obtained the mortgage on her Edmonds, Wash., home from U.S. Bank but that U.S. Bank subsequently sold the loan to Countrywide.

It’s a common practice for mortgages to be sold after they’re originated, and the transfer often happens without any involvement by the homeowner.

Asked if Cantwell had any contact with Countrywide during the transaction, Clayton said, “Not that I’m aware of.” Asked if Cantwell received any special terms on the loan, Clayton said, “I don’t know the details.” Clayton said Cantwell’s Washington, D.C., condominium is financed through U.S. Bank.

A handful of offices still have not provided answers to one or more of the questions.

The offices of Sens. Jon Kyl (R-Ariz.) and Richard Burr (R-N.C.) said only that the senators did not obtain mortgages through Countrywide and did not obtain special deals.

“We’re not going to comment further,” Kyl spokesman Ryan Patmintra said. “We’ve provided you with the information that goes to the heart of your story: who holds Countrywide mortgages and/or received special terms or pricings with their mortgages. I believe we’ve made clear that neither applies to Sen. Kyl.”

Burr spokesman Chris Walker said his boss got no special deals and did not borrow from Countrywide but that Burrdoes not want to publicly reveal his mortgage lender, because “he represents a state with two of the four largest banks in the country (Wachovia and Bank of America) and doesn’t want to appear as though he’s picking favorites.”

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