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N.D. Sen. Donates Money Over Controversial Loan

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Jun 14, 2008 12:50 pm US/Eastern

N.D. Sen. Donates Money Over Controversial Loan

WASHINGTON (AP) ―

Click to enlarge 1 of 1: Sen. Kent Conrad, a Democrat, said on Saturday that it appears that Countrywide waived 1 point on his mortgage for a Bethany Beach, Del., vacation home.
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A North Dakota senator says he is donating $10,500 to charity and refinancing his loan on an apartment building after reviewing documents that show he received special treatment from Countrywide Financial Corp.

Sen. Kent Conrad, a Democrat, said on Saturday that it appears that Countrywide waived 1 point on his mortgage for a Bethany Beach, Del., vacation home.

He said he would donate the equivalent amount of money to Habitat for Humanity.

Conrad said he reviewed documents provided to him by Countrywide and reporters after it was reported by Conde Nast Portfolio magazine's Web site that he and Senate Banking Committee Chairman Chris Dodd, a Connecticut Democrat, got preferential treatment on their mortgages.