PennyMac's Stanford L. Kurland has taken his share of criticism for helping to start the financial crisis. Now he is singing the praises of the government's latest attempt to fix it.

The former Countrywide Financial Corp. president says he has been pushing for a broad refinancing plan for years, arguing that it would reduce defaults, stimulate the economy and return the housing market to normalcy. In a recent interview with American Banker, Kurland threw his support behind the Obama administration's recent refinancing proposal.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.