mr. sullivan, you can come back up. my apologies and we will restore the amount of time that you had left. >> thank you, supervisors. what this chart shows is both the policy and the politics of condo reform. the red line going up shows that over the last 10 years, the number of people backed up behind the lottery has tripled. at the same time, the black bar going down, over the same period, shows that evictions are down by over 80%. and so you have hundreds and thousands of people who are frustrated, who just want to own their own homes in san francisco, who are the life blood of this city, who are frustrated, at the same time that tenants know or should know if they read this legislation that they are absolutely protected with rock solid protections that the proponents of this legislation have bent over backwards to make sure there are tenant protection and they should be applauded for that. so there is a myth that supporting condo reform is toxic if you're a politician in san francisco and i argue that it's just the

mr. sullivan with charts, i think that chart proves the point. if he's showing evictions are down because it's more difficult to convert to condos... >> chair wiener: thank you. thank you. >> ted, san francisco tenants union. i want to remind us all this is an extremely difficult market for renters right now where the new dotscom boom arging well over 1230 a month, evictions have been tripling and it's a tough time for renters. the two most important laws protecting renters are the condo conversion law and the rent control law. and it will repeal units from rent control and it will convert -- it's exactly over 2,000 units immediately to condos. that's a significant number off of rent control into condos. it's sending a strong message to the real estate speculators that san francisco no longer cares about regulating condo conversion and it's going to be like the wild west and we're going to have an epidemic of evictions in the upcoming months and upcoming years. that said, i think it's true that the condo conversion process is broken. there's t.i.

mr. sullivan. allyson wang? >> i am interested consumer. i would like to know -- a trend in the employment market is the increasing percentage of the population whose income mimics the self-employed, whether they are our workers, independent contractors, or freelancers. what protections does the rule offer in the burden of proof of ability to repay for those workers who may not fit the traditional model of a 40-hour work week, salaried employee, or tenured employee? >> there are provisions for creditors to consider income, so verifying documentation is important, making sure verify information is used in any debt-to-income determination. self-employed borrowers are a big segment in the market. the rules we are putting forth to provide guidance for how self-employed borrowers should be considered. they should not be locked out of the market. they are factored in to the guidance we provide, both in the ability to repay, and the qualified mortgage standard. >> thank you, ms. wang. >> i was not in washington when dodd-frank was fiercely lobbied

mrs. sullivan. >>>. >>> okay, gold has been pressie but it is bouncing back today.share on with today's action. what are we seeing, sharon? >> mandy we start with gold prices near $1700 an ounce and now it looks like gold is heading back it that direction. we are looking $20, 16.75 an houns. this after there are comments and also on that positive trade data we got out of china. but gold still pales in comparison when you look at platinum. the platinum group had been on fire this year and we're looking at the ratio between the two at about $40. that the tightest it's been since april of last year. so where is gold headed? a lot of folks are looking at 12-year bull run in gold and saying, yes, we are likely to see another run this year but from a slightly lower base. we are looking at barclays, latest report saying they see that 1778 an ounce. that is below where they had the forecast in december. a lot of firms ratcheting down price forecast but still saying it is a strong year for gold. back to you. >> sharon, thank you very much. gold was higher last year, but it w

mr. sullivan. allison wang. >> hi, my name is allison wang and i'm an interested consumer. i would like to know the unemployment market is the uncreasing percentage of the population who mimics the self-employed hourly workers or independent contractors or freelancers. what protection does the rule offer to ensure full access to the credit market in light of the -- [inaudible] ability to repay. for those workers not fitting the traditional model tenured employee or salaried employeed? >> pete, do you want to take that? >> so the new ability to repay rule does include provisions for creditors to verify and consider income verifying income documentation is a critical part of the rule. making sure verified information is used any debt to income ratio. self-employed borrowers are a big segment in the market. and the rules we're putting forth provide guidance for how they should be considered. they should not be locked out of the market as a result of the rule. they are factored in to the guidance we provide with the ability to repay standard and as well as with the qualified mo

mr. sullivan. allyson wang? >> i am interested consumer.i would like to know -- a trend in the employment market is the increasing percentage of the population whose income mimics the self employed, whether they are our workers, independent contractors, or freelancers. what protections as the rule offer in the burden of proof of ability to repay for those workers who may not fit the traditional model of a 40 hour work week, celery employee, or tenured employees -- salaried employee, or tenured employee? >> there are provisions for creditors to consider income, so verifying documentation is important, making sure verify information is used in any debt- to-income determination. self-employed borrowers are a big segment in the market. the rules we are putting forth to provide guidance for how self-employed borrowers should be considered. they should not be locked out of the market. they are factored in to the guidance we provide, both in the ability to replica -- to repay, and the qualified mortgage standard. >> thank you, ms. wang. >> i was n

mr. davis. >> the second thing that now captain o sullivan is the permanent captain at the station, we'd like him to stay for a while. i know with paramilitary organizations it's up and out but we think that would be counter productive in this case, he's been there two years, we work very well with him and we'd like him to stay. if that's possible we'd like that to happen. the third thing i'd like to mention is some calls for service data that i got from the turk street department of what are they called, you know, the custodian of records. first little packet here is about what we call mendell plaza, that would be between oakdail and palou and the 1300 block and 1400 block of mendell. in 10 months this year there have been over 2600 calls for service to that one block which we think is very high, considering the density of the neighborhood and for comparison in the second set of data here, i have calls for 6th street between market and mission. there were fewer calls, it's 3 times as dense and yes, we have gangs, they don't have gangs they don't have, et cetera, et cetera, but the reaso

i'm john sullivan from a buyer's edge and former president of the national association of exclusive buyer agents. my question to mr. cordray is, in your prepared remarks you refer to the true essence of responsible lending. and i applaud you for your efforts on instituting regulation. you also refer to reckless lending practices because the housing foreclosure crisis. but the vast majority of those cases, as a real estate agent who knew or should have known that the homebuyer did have the ability to meet his/her financial commitments. a real estate agent or broker, like the lender, like the lenders loan officer, got a commission and hasn't been seen since. unfortunately, the dodd-frank bill which created your bureau, the same osha prohibit you from any enforcement action against any real estate agent or broker's. my question to you, sir, is there anybody at your bureau who has enough wherewithal to stand up to the lobbying efforts of nar to ask congress to eliminate those provisions of the dodd-frank bill and require the real estate community to make consumers aware of the agency choices when selecting the agent t