Angelo Mozilo.

At 67, Angelo Mozilo could be thinking about retirement. The dark-tanned, silver-haired chairman and chief executive of Countrywide Financial Corp. could be spending more time counting his massive wealth, including the $160 million pay package he received last year, on top of the $57 million he earned in 2004.

But during a trip to India last month, Mozilo told that nation's Economic Times that he has no intention of stepping down from his job, and that he believes he should be paid well, as should his employees.

"People should feel like a part of an organization and reap its rewards," he said.

Instead, Mozilo is directing his efforts to more worthwhile goals. Earlier this year, Mozilo became chairman of Homes for Working Familes, a lobbying group that plans to educate lawmakers on the need for more affordable housing.

Staff reporter Kate Berry can be reached at [phone], ext. 228, or by e-mail at [e-mail].