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CSPAN2 Key Capitol Hill Hearings October 28, 2013

Rejected. So my colleagues and i have been working with a wide variety of stakeholders, including many of you, to simplify things moving forward. Case in point is the qualified Residential Mortgage rule. As all of you know in august, six federal agencies including hud proposed a revised version of qrm to make it equal, qm. This is a direct result of the feedback weve received since the first proposal in 2011. You told us it needed to be refinded, and we listened. Refined, and we listened. Now our rule now some of our critics have called this a dilution of our rule. But as you know, qm itself is a very strong measure, as im sure director cordray will confirm later in the conference. And were confident that this will find the right balance between responsibility and opportunity moving forward. Another example of proper coordination is huds qualified mortgage rule which builds off the qualified mortgage definition set forth in ....

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CSPAN2 Key Capitol Hill Hearings October 29, 2013

The confusion continues. So it is fitting were here today in d. C. So we can be heard loud and clear. We are here to call and policy makers collectively to recognize the collective impact of the rules, regulations, litigation and enforcement action because at the end of the day we are putting the American Dream at risk. My hope is that maybe this time weekend strike a balance together, constructive, and its up policy politics have to make. Workingclass towns, hispanic american africanamericans, for some homebuyers, Single Parents trying to raise the kids who want to own a home, we end up creating a perfectly riskfree safe and sound system and that will be the system for those who need the help the least. Theres no doubt theres conflict and rulemaking. This is hurting the return of private capital. Policymakers quite frankly can give lipservice to the desire to bring back priv ....

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