Top executives at Countrywide Credit Industries, the nation's largest independent mortgage company, profited handsomely from last year's burst of mortgage originations.
Vice chairman and founder Angelo R. Mozilo received $5.0 million in salary and bonus, 22.8% more than in 1996, according to documents the company filed in connection with its upcoming annual meeting.
Chairman David S. Loeb received $4.9 million in salary and bonus, a 19.5% increase, and chief operating officer Stanford L. Kurland $1.92 million, a 21.6% increase, according to the company's filing with the Securities and Exchange Commission.
The compensation does not take into account the executives' considerable share holdings. Mr. Mozilo owns 436,700 shares and has options to purchase 1.295 million, documents show. Mr. Loeb owns 1.194 million, with options for 1.281 million, and Mr. Kurland holds 68,400 shares and options for 374,000.
The stock has been trading around $50.