Andrew Garbarino actually said...

What we think you are doing here by assessing higher fees on higher-credit borrowers is you are actually contradicting the statutory mandate...

I hope if anything does come forward where Fannie and Freddie would waive those insurance requirements, I would hope you would object to it.

I think we have a perfect example of how they are harmed when you look at what has been going on in New York City.

According to the latest statistics, New York has the lowest percentage of homeowners in the nation, under 55 percent.