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Housing: Foreclosures, Financing, Fraud


The Securities & Exchange Commission filed civil fraud charges against former Countrywide Financial CEO Angelo Mozilo and other executives this week. We look at the accusations against the mortgage company's former leaders. Plus, in an effort to boost the housing market, the Federal Housing Administration has started a new program that is raising some eyebrows. We explain why some are concerned.

Also, foreclosures could be coming to a prime borrower near you. BusinessWeek's Economics Editor Peter Coy talks about why homeowners with higher credit scores could lose their homes and what impact this could have on the economy.

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