Reclaiming my time, I am focused on the homeowner who was supposed to be protected by the regulators that have been appointed and given the jobs of regulation so that they could make sure that our consumers are being treated fairly. We failed them. We let them down. We allowed them to get into mortgages where fraud was quite evident. We did not do the job. And so now they have these homes that are underwater, and they're saying, Help us. And we did. That's what this FHA legislation would have done, helped to refinance so that they could lower their mortgage payments. Now, my friends on the opposite side of the aisle are saying to the taxpayers and to the homeowners, No, we're not going to help you. We know your home is underwater. We know this information. We know what the servicers have done to you. We know that you are working every day to pay a mortgage for a home that you thought was worth an amount that is no longer so. So we are saying please don't do that. We're saying please don't do that. Don't strip the homeowners of this opportunity to refinance this home.
Editor's note · Context
The speaker addresses the failure to protect homeowners and the need for refinancing legislation.
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