mr. matthew scire, director of financial markets that u.s. government accountability office. and we have.andrew caplin, department of economics at new york university. mr. henry cunningham junior, cmb president and ceo of cunningham & co. on behalf of the mortgage bankers association. mr. patrick sinks, president and chief operating officer of mortgage guaranty association on behalf of the mortgage insurance companies of america. mr. -- president of national association of realtors and ms. sir -- i'm trying to hurry to get the sin. , wartell secretary for american progress and thank you all for being here. without objection, your written statements will be made part of the record and you'll be recognized for five minutes. the separator testimony. we will start with mr. scire. you're recognized for five minutes. >> thank you. none of chairman, members of the committee, thank you for the opportunity to be here today to discuss fha's mortgage insurance program. since 1934 come fha is an important player in the mortgage market, especially for first-time homebuyers. fha insures the