The Senate Select Committee on Ethics cleared two senior Democrats on Friday of receiving improper discounts on mortgages from Countrywide Financial, the former home lending giant.

The two senators , Kent Conrad of North Dakota, chairman of the Budget Committee, and Christopher J. Dodd of Connecticut, chairman of the Banking Committee , had come under scrutiny after it was disclosed in June 2008 that they had been included in the “Friends of Angelo” V.I.P. program, named after Angelo R. Mozilo, Countrywide’s chief executive.

While the committee said that it had found “no credible evidence” that the senators had violated gift rules in obtaining the mortgages, it still chastised them for not taking greater care to avoid the appearance of impropriety. Countrywide was later acquired by Bank of America.

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