mr. pearce, did you have a quick comment on that? >> i think the way the servicers look at whether to delay loan modification and figure out who's doing the modification better than the alternative of going to the foreclosure and losing significant portions of money and so i would agree -- >> i guess i'm asking for the mandatory issue. have you considered should be a part of the national service and standard? >> well i think the attorney general's and the department of justice are working out whatever agreement they can come to a voluntary agreement they can come to with the largest servicers on that, and so i can't really speak to where they are in that process. but i don't think that a sort of mandatory process is something certainly the fdic hasn't talked about that, you know, people should meet principal reduction when they don't make economic sense. >> thank you. ms. maloney? >> for the overall economy, the large number of defaults, the lawsuits, the servicer challengers are really putting up a barrier that could delay a broad r

mr. pearce did you have a quick comment on that? >> when servicers look at whether or not to do a modification, they think a modification is better than the alternative of going to foreclosure and losing a significant amount of money. >> do you think it should be a mandatory part of a national servicing standard? >> i think the department of justice is working out whenever agreement they can come to with the largest servicer is on that. i cannot speak to where they are in that process. i do not think a mandatory process is something we have talked about. people should make possible reductions when they do not make sense. that is not something we have talked about. >> for the overall economy, the large number of be false, the servicer challengers are putting up a barrier that could delay the broader recovery of our economy. moving forward and getting this solved is critical. i would like to ask mr. strange and mr. date about the servicing process. we had the highest number of servicing loans. banks participated, not for profit. one o

mr. pearce: for instance, in the second district of new mexico, a listing of -- suggested listing was given this year on the sand dune liz sard. a small brown liz sard that i've seen in the sand hills since i was growing up there. . they have been listed as endangered and people didn't think much of it and people began to read the reports anything that disturbed the surface of the ground would have a potential threat to the habitat of the lizard and would be prohibited to the lizard. they asked, what does that mean? and that means oil and gas activity. $2.8 billion investment for nuclear enrichment that is taking place in southern lee countyy and creating jobs in an industry that has been dormant that would be shut down. would stop the high line wires from being put up, from the electric utility crews from driving to the homesteds miles and miles away from the nearest town. they couldn't check the power lines to make sure electricity is going to these remote areas. this is the endangered species act that we are seeing. people have said to me, they couldn't kill our jobs with a lizard. what