Countrywide exec often warned about mortgage risks

Jun 5th, 2009 - guardian.co.uk

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* Chief risk officer often warned top execs on lending

* McMurray interventions cited 31 times in SEC lawsuit

* SEC won't say if McMurray cooperated with investigation

NEW YORK, June 5 (Reuters) - John P. McMurray made it clearto his Countrywide Financial Corp bosses that they were playinga dangerous game with risk. But they didn't listen.

Even so, he is being called a hero.

Warnings from McMurray are cited often in a lawsuit filedby the U.S. Securities and Exchange Commission againstCountrywide's co-founder Angelo Mozilo and two lieutenants.

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