On the recordMarch 10, 2011
The idea here, it's a two-step problem. One, the gentlewoman's bill would seek to eliminate voluntary agreements. Okay, so that's a problem. So we are asking the FHA and the homeowner and the lender and the servicer all to agree that this mortgage should be modified and that the homeowner should be allowed to remain in their home, which is a good thing. But for some reason you don't want any of that, so you are eliminating all four of those programs. That's a problem. The underlying problem that we have here specific to this language is compounded by the fact that you are eliminating all voluntary agreements, not only the ones that you seek to eliminate in these four voluntary programs.
