I recently introduced, along with the ranking member of this subcommittee, Michael Capuano, bipartisan FHA solvency legislation that passed this committee unanimously last year.

I am going to come back and talk to you again about the possibility of a review of this that would help to rearrange our reserve requirements.

I think it is time to take a look at this.

I would like to get a little clarification discussion from Mr. Thomas about the requirement that FHA has sufficient reserves to pay predicted claims over 30-year period.

I am concerned that Mr. DeMarco has used his wide latitude in regulating Fannie Mae and Freddie Mac to make a number of controversial decisions during his tenure.

I have been urging my colleagues to begin the work of reforming the GSEs because without action from this committee, Acting Director DeMarco will have to continue to take it upon himself to do the work of reshaping Fannie Mae and Freddie…

I think you agree that the Congress should be convening hearings on specific GSE reform proposals.

I appreciate that this is a tough job and that it is not easy serving in an acting capacity for nearly 4 years.

I think we can start down the road to talking about what this perhaps private-public partnership can be.

I am very concerned about any proposed reduction in the committee's 2013 budget.

I could use whatever assistance we can get.