Richard Durbin actually said...

Mortgages would not be made today, but for the fact that Fannie and Freddie are standing behind those mortgages.

To my regret, the Senate did not provide homeowners with a meaningful chance to save their homes through the bankruptcy process.

But, you're absolutely right, that only a fraction of those trial mods have, so far, been converted into permanent modifications.

Senator Alexander has raised this issue on the floor, and made several speeches on it.