I would like to commend Director Cordray and his colleagues at the CFPB, in particular for their transparency and willingness to be forthcoming.

All of us on this committee know the 2008 financial crisis was a complicated event without a simple explanation.

The CFPB has proposed a final rule on these so-called Qualified Mortgages, and I believe that rule has struck a very fair balance for the industry.

Mortgage lenders were extending loans to people who couldn't afford to pay them back.

I must first begin by expressing my ongoing concern with the Majority's refusal to allow Director Cordray to appear before the Financial Services Committee.

I am focused on pursuing reform proposals that preserve the beloved 30-year fixed-rate mortgage here in the United States.

If we are to be honest, it should be more properly entitled, 'Examples of Other Housing Finance Models with Other Forms of Government Guarantees.'

In fact, we already see that sequestration is pushing renters out of Section 8 housing operated by the Los Angeles City Housing Authority.

I think it is disingenuous to suggest that foreign nations do not make significant government investments in housing.

You tell me that they are more guilty than the presidents of banks who have the responsibility for running that bank don't know that drug money is going through those banks?

Something needs to be done.