these initiatives include expanding the loan to value requirements from 95 ltv to 97 ltv, updating mortgage frame works. i applaud director watts and his team at fhfa for taking steps to stabilize the enterprises and the household market, focussing on the common securitization platform on the enterprises, exploring a single security to increase liquidity and developing stronger counter party oversight are all efforts that will help stabilize the market for the future. however, there is only so much that can be accomplished while the enterprises are in limbo. everyone agrees that the conservatorship cannot continue forever. so i hope my colleagues will keep working towards a more certain future for the housing market. however, if congress cannot agree on a smooth or certain path forward, i urge you, director watt, to engage the treasury department in talk to end the conservatorship. before i finish, i want to thanning my colleagues on this committee as well as their staff and my staff for all their hard work in housingne reform. with that i turn to the senator for his opening statement. >> u