Josh Gerstein's article today in the New York Sun brings up one of Obama's VP hunters and his ties to the mortgage industry:

James Johnson, one of three people tapped by Mr. Obama recently to oversee the search for his running mate, took at least five real estate loans totaling more than $7 million from Countrywide Financial Corp. through an informal program for friends of the company's CEO, Angelo Mozilo, the Wall Street Journal reported Saturday. The Journal said at least two of the mortgages, among a series of loans made available to people Countrywide officials called "friends of Angelo," were at rates below market averages, though it is difficult to predict a market rate without access to nonpublic information about a borrower's credit history and other factors that can reduce interest charges on a loan.

Among the loans to Mr. Johnson, according to the Journal, were a $5 million home equity line of credit against a house in Ketchum, Idaho, a 5.25% loan of $1.3 million for a home in Palm Desert, Calif., and a 3.875% loan of $971,650 for a home in Washington, D.C. The interest rates applied for the first five years of the loans.

"That reeks most high," a public relations specialist and vocal critic of Mr. Mozilo, Bonnie Russell of Del Mar, Calif., said. "Where's the 'change to believe in' if they're playing the same old game using the same old players?"

On the campaign trail, Mr. Obama has criticized Countrywide's executives. "These are the people who are responsible for infecting the economy and helping to create a home foreclosure crisis. Two million people may end up losing their homes," Mr. Obama said in March at a town hall meeting in Lancaster, Pa.

The Chicago Tribune reported that the senator from Illinois "fumed" over a total of $19 million in bonuses set to be paid to Mr. Mozilo and the president of Countrywide, David Sambol. "They get a $19 million bonus while people are at risk of losing their home. What's wrong with this picture?" Mr. Obama asked.

In a written statement issued in March, the senator called the payments "an outrage" and suggested Mr. Mozilo and others had "tricked" homeowners into unaffordable loans. "These executives crossed the line to boost their bottom line," Mr. Obama declared.

A spokesman for the Republican National Committee, Danny Diaz, yesterday called the loans to Mr. Johnson "highly questionable" and said they conflicted with Mr. Obama's public comments. "Barack Obama needs to immediately address this matter; otherwise, his rhetoric will continue to prove to be nothing more than complete hypocrisy," Mr. Diaz said.

Aides to Mr. Obama had no immediate response yesterday afternoon to a request for comment for this article. An attorney for Mr. Johnson, Brian Brooks, did not respond to e-mail and telephone messages seeking comment yesterday. However, in a statement to the Journal, Mr. Brooks defended the loans as "well within the band of standard industry practices with regard to price and structure of loans to borrowers of Mr. Johnson's background."

Might not be such a big deal had the Obama campaign not gone after Mark Penn for his ties to Countrywide. The McCain camp is certainly aware of it. In an emailer, the campaign cites the many instances the Obama folks criticized Clinton over Penn:

Obama Senior Campaign Strategist David Axelrod Criticized Sen. Clinton For Employing Mark Penn, Whose Firm Once Represented Countrywide. MSNBC's Keith Olbermann: "Senator Clinton not stopping to hear a reporter's question about Mark Penn, let alone answer it, leading Penn's counterpart in the Obama campaign to fill in the vacuum about Penn's non-departure departure this morning on MSNBC." David Axelrod: "She's stuck him with him through the revelation that his firm was working for Blackwater and working for Countrywide, and, you know, so, it's kind of stunning. Remember that the embassy said they weren't sure whether he was there as a representative of his firm or a representative of Senator Clinton. I mean, I think there are issues associated with this. I'm not - you can use the word hypocrisy, but there are certainly questions that arise from this." (MSNBC's "Countdown," 4/7/08)

* Watch David Axelrod Here

* Axelrod: "Penn's Business Dealings Have Always Been An Issue." "Last week, she turned her fire on a huge proposed pay-out to the founder of Countrywide Financial, the mortgage company at the centre of the storm. Yet two months ago, Countrywide turned for temporary help with its tattered image to the public relations firm Burson-Marsteller, whose president is Mr Penn. ... Mrs Clinton's criticism of lenders also raised fresh questions over the role of Mr Penn. Mr Obama's chief strategist, David Axelrod, said: 'Penn's business dealings have always been an issue. The Clinton campaign is clearly not too worried who its chief strat-egist does business with.' Burson-Marstell er said it was no longer working with Countrywide and that Mr Penn did not have a hands-on role with many of its 2,000 clients." (Philip Sherwell, "Clintons' Pain And Gain In Housing Crisis," The Sunday Telegraph, 1/20/08)

* The Obama Campaign Criticized Sen. Clinton For Accepting Contributions From Representatives Of Countrywide. "Obama aides also said Clinton is in no position to stiffen oversight after taking contributions from mortgage industry lobbyists, including funds from representatives of Countrywide, which has been at the center of the mortgage meltdown. 'If we're really going to crack down on the practices that caused the credit and housing crises, we're going to need a leader who doesn't owe these industries any favors,' campaign manager David Plouffe said." (Anne E. Kornblut, "Clinton Unveils Plan To Ease Housing Crisis," The Washington Post, 3/25/08)