Andy Barr: “It is important to respond to the rhetoric from the other side because I don't think they are really understanding what…”

“It is important to respond to the rhetoric from the other side because I don't think they are really understanding what we are trying to do here. What we are not talking about are the predatory, abusive, and risky loans that they are referring to. That is not what we are talking about here. We are not talking about opaque subprime securitizations. We are not talking about the GSE exemption to the qualified mortgage rule. By the way, Mr. Speaker, where is the outrage with the FHFA, the regulator of Fannie Mae and Freddie Mac, for not prohibiting Fannie Mae, Freddy Mac, and the GSEs from buying these non-QM mortgages that they are complaining about? What we are talking about are portfolio loans where the risk is on the shareholder, not on the taxpayer.”