Dodd to refinance Countrywide loans

Hartford (WTNH) - Sen. Chris Dodd says he'll refinance two mortgages that he received through a VIP program from Countrywide Financial Corp. From the beginning, Dodd has denied that he received special treatment and a "sweatheart" deal from the mortgage lender at the center of the mortgage meltdown.

Dodd apologized for the delay in the release of the documents pertaining to the refinancing of his homes in Connecticut and Washington, D.C.

"No question I think people are wondering are you hiding something so I apologize. I really thought the Ethics Committee would act sooner," Dodd said.

The Senate Ethics Committee is investigating the matter and Dodd claims he wanted to release the documents at the same time the committee released it's findings. But with his reputation and poll numbers taking a hit, Dodd couldn't wait any longer.

Dodd released a report by a firm hired by his attorney showing the interest rates and terms the Dodd's received were along the same lines available to the public. Reporters were allowed to examine the actual documents at the senator's Hartford office.

Sen. Dodd and his wife Jackie agreed to one on one interviews with the media after releasing the reports.

Alan Cohn: How did you first learn about the VIP program?

"We asked what the VIP program was. They told us it was enhanced customer service," said Dodd.

Cohn: Would you have been better advised, even though you were well qualified for the VIP program, to say thank you no?

"If I had any sense of that I would have terminated the relationship with that operation immediately," Dodd responded.