fhsa has been public about that for months. where there is representation and warranty violations by a servicer for loan origination, we have the enterprises put those laws back in my prepared britain's statement, i provided data in how much was done last year and this year. your question about private- label mortgage backed securities --fhsa issued subpoenas in july to gather data on mortgages in private-label mortgage backed securities that the enterprises hold our this is to gather information to be able to assess whether there has been representation and warranty violations in those securities. this will be a long process by fhsa has been committed to this and have a responsibility to protect the taxpayer. >> sheila, let me explain why you have not heard from those bankers. they are afraid to put their names forward to figure that the fdic will jump down their throats because they are in total and complete control of who and how they can lend money. that is their reluctance he did come forward. >> you have my personal assur

so you were giving an exemption by the cpsc under the fhsa. we wanted a functional purpose instead of just wholesale gutting the cpsia, let's do some surgery on it. under the functional purpose, if you came in with atv and said, look, we need lead in this machine to make it stronger, children are not going to mouth or swallow any of these components. and it's not going to be pose a risk to the health of anyone who rides it in terms of lead exposure. we can give you an exemption. a blanket exemption for the whole industry. a blanket exemption for bicycles. however, to make it more complicated and, commissioner northup, has pointed this out you don't need regulations on this. if we have to write rules to have a functional purpose it will bog us down and we'll have to go through all this extensive rulemaking. just let us give the extension. we don't have to make it overly burdensome. we don't want people to have to spend thousands of dollars coming up with this petition and proving to us there's, you know, it's too costly to have something else i

[laughter] >> we work closely with fhsa and all the areas where we can align as clough as possible, we do. the majority of our requirements under hamp -- >> why not outside of that in >> i think they are close. they are not identical. there are differences with individual services and loan types, but i think they are amazingly close in most aspects. >> all right. i didn't mean to dominate, but let me get mr. deutsche. you seem to be conflicted yourself, and i don't mean that personally, but as a representative of both mortgage servicers and investors, and i just, wearing a hat of a representative of investors, put that hat on your head if you can here. how serious a problem do you think the service of conflicts of interest are in regard to example of excess fees and of course placing insurance, and do you have any suggested solutions? you heard in testimony that services are low to seek putbacks of loans where the putbacks come from their parent companies. i wonder if you agree with that comment in the assessment? >> again, with the hat of an investor on, i think our first lien investo