NEW YORK – Two Barack Obama advisers, Franklin Raines and James Johnson, received preferential home loans as industry favors, apparently in deference to their executive positions heading Fannie Mae.

Raines and Johnson, as “friends of Angelo Mozilo,” the chief executive of Countrywide Financial Corp. – the now bankrupt high-flying loan originator in the sub-prime mortgage debacle – were funneled millions of dollars for personal home loans. Mozilo himself made exceptions from Countrywide policy to provide the two Fannie Mae CEO’s “sweetheart deals.” Full Piece