heid and mr lowman, it provides a framework for you to build upon and expand. >> that is correct. >> thank you. mr. chairman, i yield back. >> thank you. i now yield 5 minutes to the congresswoman from california. >> thank you, mr. chairman. well i was not in the room i was listening to the testimony. i am somewhat struck by the questioning that was offered by mr. lynch when he asked if you wanted to see the program continue. virtually every one of you said yes. my colleagues on the other side of the aisle very much want to see the program disappear. it would be helpful to us if you can, in a narrative, provide to the committee precisely why you think the program should continue. mr. lowman, i think congressman kucinich said he had great difficulties with your particular company. and i would like to echo those. i have a number of cases here that are truly disturbing that are loans by chase. this couple -- a retired schoolteacher and her required -- her retired husband -- chase has lost four sets of applications. this is a story we have heard over and over again. documentation is sent.

mr. lowman, on behalf of my constituents? >> yes. >> we can chat afterward. >> i would be happy to do it. >> i want to help you do more and better. >> we have a number i can put on the record. it is for anybody who has constituent complaints. we would be happy to personally do with them. >> i want to make sure it is not like those bumper stickers that say, "if you like my driving, call 1-800." >> thank you, mr. chairman. we have a memo that says more borrowers ve been kicked out of hamp than have received permanent monday petitns -- permanent modifications. 429,000 temporary modifications out of 6300 permanent -- and of 630,000 permanent modifications have been canceled. they estimated that 75% of permanent modifications will ultimately default. i am also told that part set aside $75 billion for this program but only $30 million has been paid out in the first year and a half. in that rate it would take roughly 200 years to get all this money out, which seems to me ridulous that they set ide that much money for what now appear

mr. lowman, on behalf of my constituents? >> yes. >> we can chat afterward. >> i would be happy to do it. >> i want to help you do more and better. >> we have a number i can put on the record. it is for anybody who has constituent complaints. we would be happy to personally do with them. >> i want to make sure it is not like those bumper stickers that say, "if you like my driving, call 1-800." >> thank you, mr. chairman. we have a memo that says more borrowers have been kicked out of hamp than have received permanent monday petitions -- permanent modifications. 429,000 temporary modifications out of 6300 permanent -- and of 630,000 permanent modifications have been canceled. they estimated that 75% of permanent modifications will ultimately default. i am also told that part set aside $75 billion for this program but only $30 million has been paid out in the first year and a half. in that rate it would take roughly 200 years to get all this money out, which seems to me ridiculous that they set aside that much money for what no

mr. lowman, i think congress man mr.ucinich said he had great difficulty with your current -- which your company. i have a number of cases here that are truly disturbing. they are loans by chase. this couple, a retired school teacher, retired husband. chase has lost four sets of applications. this is a story we hear over and documentation is sent and documentation is lost. when a consumer since it in four times and you cannot find it, that is your problem. it reminds me a little bit of the issue of the mineral mine serve as. basically, if they did not permit the deep verizon rig -- horizon rig within 30 days, it was automatically approved. at some point, the lender had to take responsibility for not having the documentation when it has been sent over and over again. i have people dedicated to doing only foreclosures and modifications in my office. everyone on this panel would say the same thing. i would ask you to create an individual within each of your companies that we can call. i would like you to contemplate that. i