Jeff Merkley actually said...

"Because of those existing agreements, what you are describing has little practical effect because Fannie and Freddie are telling those servicers to continue with the foreclosure process."

"We are much more worried about this than I think perhaps Treasury is, based on your testimony."

"That does not seem to be working in a way that we want it to."

"Thank you for your leadership on Dodd-Frank, a huge effort to try to stabilize our financial sector."