professor levitin -- is that correct? levitin. thank you for joining. mr.evitin is associate professor georgetown specializing in bankruptcy, commercial law, financial regulations, he's done extensive research in the role of financial institutions and business transactions including mortgage finance payment systems and bankruptcy organizations also served as the special counsel of the congressional oversight panel and is currently a fellow at the center of what we george washington university. thank you for joining. >> i hope i can keep my comments as brief as mr. arnold. i'm here to testify with academic and not on behalf of the congressional oversight panel. the mortgage world has been run by issues the discovery that meter believe the major mortgage servicers have faulty fraudulent affidavit case is the emergence of concern over securitization chain of title and mortgage backed securities investors put back demands. although seemingly disparate these issues are in fact connected by the two common threads. the necessity of putting standing in order to mai

professor levitin -- is that correct? levitin. thank you for joining. mr. levitin is associate professor georgetown specializing in bankruptcy, commercial law, financl regulations, he's done extensive research in the role of financial institutions and business transactions inluding mortgage finance payment systems and bankruptcy organizations also served as the special counsel of the congressional oversight panel and is currently a fellow at the center of what we george washington university. thank you for joining. >> i hope i can keep my comments as brief as mr. arnold. i'm re to testify with academic and not on behalf of the congressional oversight panel. the mortgage world has been run by issues the discovery that meter believe the major mortgage servicers have faulty fraudulent affidavit case is the emergence of concern over securitization chain of title and mortgage backed securities investor

professor levitin -- is that correct? levitin. thank you for joining. mr. levitin is associate professor georgetown specializing in bankruptcy, commercial law, financial regulations, he's done extensive research in the role of financial institutions and business transactions including mortgage finance payment systems and bankruptcy organizations also served as the special counsel of the congressional oversight panel and is currently a fellow at the center of what we george washington university. thank you for joining. >> i hope i can keep my comments as brief as mr. arnold. i'm here to testify with academic and not on behalf of the congressional oversight panel. the mortgage world has been run by issues the discovery that meter believe the major mortgage servicers have faulty fraudulent affidavit case is the emergence of concern over securitization chain of title and mortgage backed securities investors put back demands. although seemingly disparate these issues are in fact connected by the two common threads. the necessity of putting standing in order to m

levitin? >> i would certainly support everything that ms. thompson and attorney general miller have suggested. but i would also suggest he might consider an alternative that would go a bit further. namely, taking servicers out of the loan modification process altogether. servicers whenever the loan modification business during the transaction processing business. we're trying to get them to country business line that they are used to doing nd to expect them to succeed or not is really asking too much. and the way to get them out of that would be having some federally administered loan modification program, where you could do this under the bankruptcy power. it would not necessarily have to be done through bankruptcy courts even although certainly be one-way. it would not necessarily have to be a repeat of the chapter 13 crammed down legislation that the senate failed to pass a couple years back. and you could do this through something like mortgage only bankruptcy chapter, where you have an immediate triage between homeowners who can pay and