." >> on "newsmakers," edward demarco. welcome. >> thank you for having me. >> we have the housing correspondent of writers. -- reuters. and we have another. hello. >> what about the program? >> we introduced this program in conjunction with the obama administration in the first week of that administration as a package of effort to assist the housing market. what is unique about this program is it is designed to help borrowers who are remaining current on their mortgages but because of declining house prices and problems with obtaining private mortgage insurance they may have been locked out of trying to refinance their mortgage. when people get a mortgage, they are usually paying for the right to pay that mortgage early and refinance into a lower rate. we see rates coming down, but there is a set of borrowers who cannot refinance because of these conditions, so this program was established to help them. about 890,000 borrowers have successfully refinanced, but we are taking a look at this in light of the continuing declin

ed edward demarco acting head of the fhfa. our next question. >> on that point about credit standards, there are some industry veterans that say just as credit standards became ridiculously lax during the housing bubble today it has swing too far to the other side and the concern is that the knee on the throat of the economy is the credit shortage that is putting pressure on prices and fannie and freddie together with other federal agencies really are the main source of credit for mortgages. i wonder how concerned are you that fannie and freddie may be undermining their recovery by making it too hard to get a loan today. >> this certainly is a challenge. clearly the underwriting standards needed to be tightened. pricing needed to be improved. in fact, i don't think we are done with pricing. i have said publicly that the prici pricing, the risk-based pricing that fannie and freddie have in place today is less than what a truly private market would have in terms of pricing this risk with private capital rather than taxpayer capi

. >> reporter: edward demarco, director of federal housing finance agency, spear heading changes to help people, paying federally backed mortgages too upside down to ever catch up. >> we thing there will be more borrowers who have gone upside down on their mortgage to be able to refinance, take advantage of today's lower rates. >> reporter: the program is aimed at fannie mae and freddie mac loans taken before 2009 and whose payments are current, harp will now last through end of 2013, borrow 25% or more upside down, homeowners who qualify would get lower interest rates, but some private mortgage brokers have concerns. >> we are going to make money on it because it will be more loans but i think it is a bad move. >> reporter: kerry green of alleyed mortgage in an non-dale virginia is president of national lenders alliance and critical of the changes he says the housing market needs to stabilize on its own without any more government interference. >> let it seek its own bottom if it isn't already there it will repair itself every time the government gets involved and intervenes all they do

after that, at edward the marco -- edward demarco. then a focus on key presidential contenders. this week, the life of thomas e. dewey. >> this morning a discussion on the 2012 presidential campaign and occupy wall street

. >> tomorrow, edward demarco talks about the home affordable refinance program, the status of fannie mae and freddie mac, and what congress can do to address the housing market. that is at 10:00 a.m. and 6:00 p.m. eastern here on c-span. >> i don't want every story to be 1800 words pierre >> last month, and jill abramson became the first woman to hold the post of executive editor @ "the new york times." >> there is a certain lack of discipline. sometimes a point is reputed to many times in a story or their three " making the same point where one would do. i would like to see a variety of story length. >> you will discuss her career and the history of "the sunday times" on c-span. >> next, a discussion about the group called coffee party usa. this is 45 minutes. guest: we are a response to the tea party. we approach issues as fellow americans, as neighbors, as friends, as instead of representatives of parties. we try to get people to come to the table and make decisions together. we want specific engagement at the heart of organizing. right now, organizing is based on your ideology an

the congressman mentioned edward demarco, the acting director of the federal housing agency, which regulates fannie mae and freddie mac. he is our guest on this sunday morning at 10:00 eastern time. we invite you to hear more of its perspective on fannie mae and freddie mac and their roles and the housing crisis and what relief species might be possible. florida, a republican named vaughan. caller: i just wanted to see what has been his interaction with fannie mae and freddie mac, because really i worked with them and i prepare getting a lot of false blame in this. i find that we have not systematically and forced the agreements that we have with the banks. no one has gone after the banks to say you are supposed to check every loan you sold to those particular entities. now that they have sold those loans, no one is going backwa on the clawback clause. the treasury is preventing fannie mae and freddie mac from taking all those loans and selling them back to the banks, 100% on the dollar, which would mean taxpayers get their money back, plus fees they were supposed to pay for not doing their

. >> tomorrow on newsmaker, edward demarco, acting director of the federal housing agency. he talks about the home affordable refinancing program. that is at 10:00 a.m. and 6:00 p.m. eastern here on c-span. >> spend this weekend in moscow, tenn., with booktv and american history tv. on book tv on c-span2, the university of tennessee's body farm -- 4 acres of decomposing human remains. dr. william bass on a real live see as i. also, alex haley and his life in knoxville. on american history tv on c- span3, a visit to the sequoia birthplace museum. we will explain how an indian silversmith successfully created a system of writing for the cherokee language. also, a visit to the oak ridge national laboratory and the labs development of the atomic bomb. is knoxville a true southern city? a historian on its future. today at 6:00 p.m. eastern. watch throughout the weekend on american history tv. >> the heat is on. this is not the first time i have seen where the real he -- if these guys cannot come up with something, they will not want to go home. >> the deficit reduction committee