. >> cementer merkley. >> thank you mr. chair and mr. secretary for your testimony today. and i certainly echo the thoughts of my colleague from ruda island that it has been extremely disappointing to see how incredibly slow the action has been to even address the fundamental issues of process, the single point of contact with the dual track and the recent settlement was along the lines of continuing to cheerleader and say this is the right thing to do, please, please do it as opposed to anything that actually takes us down the path. we have been cheerleading for a year-and-a-half and see virtually no results on the ground. people coming in the door today are not telling you different story than they had a year ago in terms of the complete insanity of reaching a different person the may contract still having their files lost repeatedly so on and so forth. for a long time we've been hearing results around the corner. we haven't seen them. >> to turn to the qualified residential mortgage process and the proposed 20% down payment requirement, there's a lot of concern in the h

. >> cementer merkley. >> thank you mr. chair and mr. secretary for your testimony today. and i certainly echo the thoughts of my colleague from ruda island that it has been extremely disappointing to see how incredibly slow the action has been to even address the fundamental issues of process, the single point of contact with the dual track and the recent settlement was along the lines of continuing to cheerleader and say this is the right thing to do, please, please do it as opposed to anything that actually takes us down the path. we have been cheerleading for a year-and-a-half and see virtually no results on the ground. people coming in the door today are not telling you different story than they had a year ago in terms of the complete insanity of reaching a different person the may contract still having their files lost repeatedly so on and so forth. for a long time we've been hearing results around the corner. we haven't seen them. >> to turn to the qualified residential mortgage process and the proposed 20% down payment requirement, there's a lot of concern in the h

. >> cementer merkley. >> thank you mr. chair and mr. secretary for your testimony today. and i certainly echo the thoughts of my colleague from ruda island that it has been extremely disappointing to see how incredibly slow the action has been to even address the fundamental issues of process, the single point of contact with the dual track and the recent settlement was along the lines of continuing to cheerleader and say this is the right thing to do, please, please do it as opposed to anything that actually takes us down the path. we have been cheerleading for a year-and-a-half and see virtually no results on the ground. people coming in the door today are not telling you different story than they had a year ago in terms of the complete insanity of reaching a different person the may contract still having their files lost repeatedly so on and so forth. for a long time we've been hearing results around the corner. we haven't seen them. >> to turn to the qualified residential mortgage process and the proposed 20% down payment requirement, there's a lot of concern in the h

. >> cementer merkley. >> thank you mr. chair and mr. secretary for your testimony today. and i certainly echo the thoughts of my colleague from ruda island that it has been extremely disappointing to see how incredibly slow the action has been to even address the fundamental issues of process, the single point of contact with the dual track and the recent settlement was along the lines of continuing to cheerleader and say this is the right thing to do, please, please do it as opposed to anything that actually takes us down the path. we have been cheerleading for a year-and-a-half and see virtually no results on the ground. people coming in the door today are not telling you different story than they had a year ago in terms of the complete insanity of reaching a different person the may contract still having their files lost repeatedly so on and so forth. for a long time we've been hearing results around the corner. we haven't seen them. >> to turn to the qualified residential mortgage process and the proposed 20% down payment requirement, there's a lot of concern in the h