Jack Reed actually said...

"Wouldn't it be very similar to the process you went through screening the proposed firms that were selected by the company being reviewed?"

"If they find proprietary information that is potentially material to investors in terms of the behavior of these servicers, are they obligated to inform you and the Securities and Exchange Commission ..."

"Following up on this issue of the independence of these consultants, is there any prohibition on future work that these companies can do with the party that they are independently supervising?"

"the independent foreclosure review actually contains two components."