Unfortunately, home foreclosures continue to rise precipitously nationwide, notwithstanding the efforts by the Congress and the previous Administration and this Administration to stem that tide of foreclosures.

In my view, this provision would have substantially and effectively reduced the number of foreclosures.

I am just tremendously frustrated that we have provided funding for banks around the country, and yet they are stiffing the homeowners of the United States.

The important thing--it would be one thing if Freddie and Fannie were simply private companies. We are Freddie and Fannie, and the taxpayer will back that.

What these programs need is not to be replaced by a government program that is mandating modifications.

Today's hearing gives us an opportunity to revisit the roots of the mortgage foreclosure crisis and its continuing effects on our economy.

But nevertheless, the offenses that the corporations are generally alleged to have committed, are more serious than the minor misdemeanor that a person might have committed as a first criminal offense.

I believe we have a solemn to oversee these practices and take corrective action when it is called for.

I would suggest, Mr. Chairman that it ought not to be the prosecutor.

In that type of arrangement or that type of settlement would be not permitted any longer is that right?

I am proud of my earmark. I hope you will enter all of the earmarks I get from my district.

I am sure, I hope, that these decisions were made in good faith, but they reek of favoritism, high fees, and it is not a good situation, and secrecy.