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Detailed text transcripts for TV channel - FOXNEWS - 20130807:13:08:00

he was the first lawmaker on the ground in libya. went to tripoli days after the terror attack. he is coming up at top of the next hour with more on this. mortgage lenders and bankers not so sure about the president s plan to deal with the housing market. president obama wants to do away with government-backed mortgage giants, fannie mae and freddie mac. but people in the industry say that could be devastating. stu varney is the heavy of varney & company on the fox business network. so, what say you, stu? what do you think? first off, heather, let s sweep away the jargon. let s get right at what the president wants to do. as you said he wants to sweep away fannie and freddie. those are government housing agencies. he wants to bring on the private banks. he wants private banks to play a much bigger role in granting mortgages. the president also wants more loans to poor credit borrowers. he wants more cheap refi loans and he wants more affordable

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