the discussion draft from myself and Senator Boxer is in the best interest of the GSEs

Removing barriers to refinancing will help the effectiveness of monetary policy, allowing the Federal Reserve to more quickly reduce its efforts in quantitative easing.

there is a reason the private sector does that. It does it to not lose money, right, Dr. Sanders?

the existing system benefits the largest servicers, it benefits investors, and it harms homeowners and taxpayers

It is important to remember that there was widespread steering during this housing bubble of overpriced credit to African American and Hispanic households.

Allow millions of Americans to refinance their GSE mortgages at low current rates.

I believe that we can come together to solve some of these different issues

I have a real concern. Years ago, in this Committee, before we had the housing foreclosure crisis, we had members of the previous Administration, and I said, we are on the verge of a tsunami of foreclosures.

The Responsible Homeowner Refinancing Act of 2012 goes a long way toward addressing many of the underlying problems.

I take no joy out of what you describe as punching, using Mr. DeMarco as a punching bag.

I think that is a great idea.

Thank you very much. Thank you all for your testimony.