Robert Menendez actually said...

"You testified that servicers have incentives that keep them from forgiving principal, even when doing so might be better for the investor as well as the homeowner. How do you explain that?"

"It is very simple. All the training in the world--there is one simple statement to anyone who works for you. You do not have to be delinquent in order to be eligible for the program."

"Bank of America fully supports the Making Home Affordable program."

"But we hear this all the time."