Jeff Merkley actually said...

"OK. So, ballpark, can you tell me between the two institutions or for your institution how many more repurchase--are we talking a billion dollars a month or are we talking about a billion dollars ever..."

"Thank you."

"The situation is that often when folks seek a modification, they are told by the servicer, you need to be delinquent before you start this."

"I wish there was, in fact, a rule in place that said the foreclosure track will not be pursued until the modification is completed."