I think most Members of the body realize the THUD bill is not the place to address major foreign policy. I think all understand that in September it is the plan of this body to deal with the legal issues regarding foreign aid to Egypt, so…

I would hope that we get some direction from the leadership of the Committee as to what we are going to do on the floor.

I want to thank you and the Ranking Member for your interest not only in GSE reform but also in particular paying a lot of attention to how to fix the smaller institutions.

But it would make sense, I think, if you did not have that element of reinsurance, that over time the larger entities would have the ability to deal with the secondary market in a way that the smaller institutions would not.

CUNA appreciates and applauds Senators Corker, Warner, Tester, Johanns, Heitkamp and Heller for introducing S.1217.

We believe it prudently addresses the Federal Government's role in the mortgage market and resolves the longstanding conservatorship issues of Fannie Mae and Freddie Mac.

Do you agree that having a situation where there is a Government backstop implied but that you have CEOs of entities that really are not focused on that particular aspect, which has to do with the taxpayers, but instead is focused on…

I want to thank you and actual the FHFA for leading--giving us a bread trail, if you will, toward that end.

Well, the bill that many of us have worked on does that.

I think just in looking at the body language, I think most people think that is not a good place to be.

ICBA is grateful to Senators Warner, Corker, Tester, and Johanns for introducing S.1217, the Housing Finance Reform and Taxpayer Protection Act.

I think that goes without saying, doesn't it?