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Growing up poor in the Bronx, Angelo Mozilo learned at an early age what owning a home could mean. In 1968 Mozilo and his partner David Loeb started Countrywide out of a tiny office in Southern California. After five years, Countrywide had not turned a profit, which forced the founders to rethink their business. After replacing its commissioned loan officers with salaried employees who had decision-making authority, they were able to offer substantial savings to its customers. Countrywide is now America's largest independent home mortgage lender.