01/20/2015
https://www.congress.gov...
"the bill proposed by Senator Menendez and Senator Boxer."
"I hope that in the Menendez legislation, by the time it gets to the floor, that we will absolutely totally extinguish 100 percent of any second mortgage before we allow one penny of a first mortgage t..."
"one of the key provisions in the Menendez-Boxer bill would be to remove some of those final steps, final barriers that second liens are providing."
"As a matter of fact, Professor Mayer at our Subcommittee hearing that I chaired a few weeks ago estimated that it would result in GSE profits of as much as $23.7 billion."