“I loved what we did. We changed the lives of millions and millions of people in a positive way.” Those were the words of the late, great Angelo Mozilo. Yes, you read that right. Put great next to Mozilo’s name. He was more than worthy of the adjective.
There’s a market signal in big fortunes, and Mozilo had one. His was a sign that he discovered a market that was rather invisible to the players in the mortgage space who came before him. The simple truth is that if the financing of home purchases had already been a vibrant market, Mozilo’s passing wouldn’t have rated mention. That is so because known markets are quickly populated by established businesses.
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