| 00:00:12 |
Unidentified Speaker, -
FEW REPORTERS WITH THE. >> THE HOUSING BUST HAS BEEN A CATASTROPHIC EVENT FOR MILLIONS OF AMERICAN FAMILIES. THIS GO AROUND WE HAVE NOT HEARD THAT
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| 00:00:29 |
Unidentified Speaker, -
MUCH ABOUT IT FROM EITHER CAMPAIGN. WHITE IS HOUSING SEEM NOT TO BE A FOCUS THIS TIME? >> IT IS A FOCUS OF THE PRESIDENT. AS YOU KNOW, THERE IS A BROAD...
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| 00:00:49 |
Unidentified Speaker, -
HAVE DONE TO TRY TO MOVE THE COUNTRY FORWARD AND SMOOTH THE HOUSING SITUATION FORWARD. YOU HAVE SEEN PRESIDENT OBAMA TALKING ABOUT THE NEED TO OPEN UP...
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| 00:02:26 |
Unidentified Speaker, -
CLEARLY, IF YOU LOOK AT WHERE THE HOUSING MARKET IS IN THE IMPROVEMENTS THAT HAVE HAPPENED, THERE
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| 00:02:35 |
Unidentified Speaker, -
IS NO QUESTION, I WILL LET OTHERS ASSIGN LETTER GRADES, THAT IS NOT MY JOB. THERE ARE THINGS WE HAVE DONE THAT WORKED VERY WELL. REFINANCING IS AN AREA...
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| 00:04:17 |
Unidentified Speaker, -
SETTING NEW -- THEY KEEP SETTING NEW LOWS. THE FEDERAL RESERVE SAID THEY INTEND TO KEEP THEM AS LOW AS POSSIBLE FOR A LONG TIME. A BIG FRUSTRATION ON...
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| 00:05:10 |
Unidentified Speaker, -
AN 11% REDUCTION IN THE NUMBER OF UNDERWATER FAMILIES IN THE FIRST SIX MONTHS OF THIS YEAR, WE STILL HAVE OVER 10 MILLION FAMILIES UNDER WATER. THEY...
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| 00:08:26 |
Unidentified Speaker, -
WE CONTINUE TO FIND WAYS TO TWEAK THE PROGRAMMING CHANGES. THE BIGGEST CHANGES WE CAN MAKE ARE THE
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| 00:08:34 |
Unidentified Speaker, -
ONES WE HAVE MADE. WE DO NOT THINK WE HAVE MUCH MORE ARTILLERY LEFT ON THIS PROBLEM WITHOUT CONGRESS ACTING. FOR GOVERNMENT GUARANTEED MORTGAGES WE MADE...
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| 00:09:02 |
Unidentified Speaker, -
KEY DODD/FRANK RULES HAVE NOT BEEN COMPLETED. WE'RE STILL WAITING FOR FINALITY AND SOME OF THESE RULES. DO YOU AGREE WITH THAT ANALYSIS? >> I AM NOT...
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| 00:09:29 |
Unidentified Speaker, -
THEY DO NOT APPLY. I AM NOT HEARING THAT THE UNCERTAINTY AS WE ARE FINALIZING THESE RULES, AND THE REQUIREMENT IN THE LAW WAS TO FINISH THEM BY JANUARY...
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| 00:11:27 |
Unidentified Speaker, -
THE BUDGET AND TAX POLICY. THERE ARE SOME HOUSING ISSUES WRAPPED UP IN THAT. DO YOU THINK THAT CONGRESS SHOULD SCALE BACK OR ELIMINATE THE MORTGAGE INTEREST...
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| 00:11:56 |
Unidentified Speaker, -
OF WHETHER IT IS THE MORTGAGE OR OTHER THINGS WHILE WE ARE STILL VERY MUCH FOCUSED ON RECOVERING FROM THE CRISIS. ANYTHING THAT WOULD CHANGE THE SYSTEM...
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| 00:12:55 |
Unidentified Speaker, -
YEARS," MIKE THAT HELPS SPUR ON PEOPLE TO GET INTO THE MARKET? >> I DO NOT THINK WHAT WE'RE FOCUSED ON REPAIRING THE DAMAGE FROM THE CRISIS THAT IT IS...
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| 00:13:11 |
Unidentified Speaker, -
I THINK IT HAS SIGNIFICANT RISKS. >> FANNIE MAE AND FREDDIE MAC HAVE BEEN UNDER FEDERAL CONTROL FOR OVER FOUR YEARS NOW. THE ADMINISTRATION HAS A SET...
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| 00:13:28 |
Unidentified Speaker, -
OPTIONS BUT NEVER A DETAILED RECOMMENDATION FOR WHAT SHOULD BE DONE WITH THEM. IS THE TIME COMING FOR THAT SINCOON? >> WHEN WE PUT OUT OUR IDEAS FOR HOUSING...
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| 00:13:48 |
Unidentified Speaker, -
OF CHOICES TO BE MADE. WE MADE OUT THREE CLEAR OPTIONS. WE WERE CLEAR THAT THERE HAS TO BE SOME BASIC CONSENSUS OF ROUNDS WHICH OF THOSE DIRECTIONS BEFORE...
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| 00:15:15 |
Unidentified Speaker, -
TO REDUCE PRINCIPAL FOR HOMEOWNERS. EARLIER THIS SUMMER, THE MAIN OVERSEER SAID THE AGENCIES WOULD NOT DO THAT. I AM WONDERING HOW YOU SEE THAT AS A MISSED...
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| 00:15:49 |
Unidentified Speaker, -
DONE BY FREDDIE AND FRANNIE THAT SAYS NOT ONLY WOULD THIS HAVE BEEN POSITIVE FOR THE INDIVIDUAL HOMEOWNERS, IT WOULD HAVE SAVED THE TAXPAYER AT LEAST...
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| 00:18:06 |
Unidentified Speaker, -
THAT WOULD HAVE
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| 00:18:10 |
Unidentified Speaker, -
BEEN FEBRUARY IT WAS FINALIZED. I AM WONDERING YOUR ASSESSMENT OF HOW EFFECTIVE AND SIGNIFICANT IT HAS BEEN. A LOT OF HOMEOWNERS HAVE SEEN HELP FROM...
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| 00:18:53 |
Unidentified Speaker, -
EARLIER RESULTS. THIS PRELIMINARY REPORT WAS FOR MARCH THROUGH JUNE. WE KNOW IT IS ALMOST IN THREE MONTHS SINCE THE END OF JUNE. B. HAVE SEEN MUSTMUCH...
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| 00:22:09 |
Unidentified Speaker, -
BEEN ABLE TO MAKE THAT DECISION. IT IS UP TO HIM. I
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| 00:22:15 |
Unidentified Speaker, -
LOVE SERVING HIM. HE WILL DECIDE TO HIS TEAM IS AND HOW WE WILL CARRY FORWARD. >> WOULD YOU ACCEPT THE INVITATION? >> I LOVE WHAT I'M DOING. I THINK...
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| 00:22:28 |
Unidentified Speaker, -
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| 00:22:31 |
Unidentified Speaker, -
I AM REAL HAPPY WITH THE WORK I AM DOING. >> SEVERAL CITIES AROUND THE COUNTRY HAVE BEEN DEVELOPING PLANS TO USE EMINENT DOMAIN POWERS TO SEIZE
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| 00:22:43 |
Unidentified Speaker, -
TROUBLED MORTGAGES AND RESTRUCTURE THEM. HOW DO YOU FEEL LOOK ABOUT AND USE THAT TOOL -- ABOUT USING THAT TOOL/ >> HAS BEEN SURPRISING TO ME THE AMOUNT...
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| 00:23:03 |
Unidentified Speaker, -
IF THIS WERE TO EVER GO FORWARD, IT WOULD BE SUBJECT TO LEGAL CHALLENGES. WE ARE TALKING ABOUT A RELATIVELY SMALL NUMBER OF PLACES THAT ARE CONSIDERING...
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| 00:24:28 |
Unidentified Speaker, -
CLOSELY. WHETHER IT IS WORKING ON THE
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| 00:24:34 |
Unidentified Speaker, -
SETTLEMENT OR IN A NUMBER OF OTHER AREAS, AND THE WORK THAT SHE DID ON LOAN MODIFICATIONS WAS SOMETHING THAT WE LOOKED AT CLOSELY. WHEN YOU'RE SETTING...
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| 00:25:56 |
Unidentified Speaker, -
THERE IS NO QUESTION THAT THE ACTIONS WE HAVE TAKEN HAVE IMPROVED THE HOUSING
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| 00:26:03 |
Unidentified Speaker, -
MARKET. THE EXPECTATION WILL BE CAME INTO OFFICE, IF YOU LOOK AT WHAT THE MARKET WAS EXPECTING FOR HOME PRICES, WHERE HOME PRICES ARE TODAY, ALL OF THOSE...
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| 00:26:59 |
Unidentified Speaker, -
OUR TO REPORTERS. A LOT OF PEOPLE OUT THERE TRYING TO REFINANCE. WHAT DID YOU HEAR? >> I HEARD A LOT OF OPTIMISM ABOUT THEIR PROSPECTS IN CONGRESS.
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| 00:27:13 |
Unidentified Speaker, -
HE SEEMED OPTIMISTIC THAT THEY GET THIS BILL THROUGH. I AM NOT SURE IF THIS BILL WILL GET THROUGH THE HOUSE. SOME REPUBLICANS WILL NOT WANT TO GET HIM...
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| 00:27:46 |
Unidentified Speaker, -
HE DID NOT WANT TO RISK HURTING THE RECOVERY BY GETTING RID OF SOMETHING THAT IS POPULAR AND BENEFITS FAMILIES. THE BIGGER PICTURE IS THAT
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| 00:27:57 |
Unidentified Speaker, -
IT IS A VERY POPULAR TAX DEDUCTION THAT MANY PEOPLE IN AMERICA AND JOY. IT WOULD BE A BIG FIGHT TO GET RID OF SOMETHING LIKE THAT. SINCE THERE IS MUCH...
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| 00:28:26 |
Unidentified Speaker, -
COULD BE IN PLAY NEXT YEAR. PROBLEM NOT ELIMINATED BUT MAYBE THERE COULD BE SOME SCALE BACK OR AN INCOME LIMITATION OR A LIMITATION ON THE VALUE THAT...
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| 00:28:52 |
Unidentified Speaker, -
TO CREDIT. HE DID NOT WANT TO GIVE A GRADE FOR THEIR EFFORTS SO FAR. ARE OTHERS GIVING HIM AND THE OBAMA ADMINISTRATION A GRADE? >> IT DEPENDS ON WHO...
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| 00:29:10 |
Unidentified Speaker, -
TO SAVE THE NATION'S HOUSING MARKET. HE IS RIGHT TO SAY IT HAS IMPROVED A LOT. THERE ARE MILLIONS OF PEOPLE THAT ARE FACING FORECLOSURE. A FRUSTRATION...
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| 00:30:15 |
Unidentified Speaker, -
DISAPPOINTED WITH HIS STANCE ON HOUSING. THEY HAVE NOT COME CLOSE WATCHTO WHAT THEY SET OUT TO DO. GOV. ROMNEY DOES NOT HAVE A WHOLE LOT OF DETAIL OUT...
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| 00:31:08 |
Unidentified Speaker, -
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| 00:31:12 |
Unidentified Speaker, -
WHAT OUR "NEWSMAKERS" PROGRAM WITH SHAUN DONOVAN
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.