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Obama Got Discount on Home Loan: Campaign Defends Lower Rate as Lender Competition for Business

Date: July 2, 2008
Author: Joe Stephens
QUOTE: Modest adjustments in mortgage rates are common among financial institutions as they compete for business or develop relationships with wealthy families. But amid a national housing crisis, news of discounts offered to Sens. Christopher J. Dodd (D-Conn.), chairman of the banking committee, and Kent Conrad (D-N.D) by another lender, Countrywide Financial, has brought new scrutiny to the practice and has resulted in a preliminary Senate ethics committee inquiry into the Dodd and Conrad loans.

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Obama just has the power to do everything he wills in the business world. I'm currently going to take an loan and I'm hopeful that it would help me improve my scores. They're capable of it.

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