I would just ask you, don't wait that long. It is the worst legislation I think we have seen in a long time.

I find it incredible myself that an agency which under Federal law has no supervisory, enforcement or regulatory authority over auto dealers is still attempting, I believe, to dictate the manner in which auto dealers are compensated.

With such a large portfolio, FHA's recent actions indicated it could potentially put another 250,000 new homeowners on the books by reducing annual premiums.

What this country needs, I believe, is a mortgage finance system that is not only sustainable, but reduces taxpayer risk while giving hardworking Americans the opportunity to buy homes they can actually afford to keep.

Like many, I believe that the answer to fixing these problems is in the private sector.

Do you believe the FHA should be run and operated like a private insurance company?

I think it is laughable when we talk about that.

Why should you not have to pay it back? It is the peoples' money.

I believe that less government is the best government. I believe government out of our lives is a good thing.

I want to thank both of you for being here today, as always.

I am a big private-sector guy. I believe in the private sector, everything from construction to ownership of terminals.