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The banks absent the fundamental structural reform and principle. >> i agree with the last part he said. we should have had some kind of criteria in there. we did not do that. keep in mind the other thing, the part of dimarco's mandate is to help homeowners. he is legally -- has the opportunity in the law to do principle reduction. and minimize foreclosures. that's in the law. >> it's in the law. i want to hammer this home to people. we're talking dimarco fha, this is one dude presiding over half the mortgages in the country. that is the situation right now. there is a guy whose name is ed dim...

Said. we should have had some kind of criteria in there. we did not do that. keep in mind the other thing, the part of dimarco's mandate is to help homeowners. he is legally -- has the opportunity in the law to do principle reduction. and minimize foreclosures. that's in the law. >> it's in the law. i want to hammer this home to people. we're talking dimarco fha, this is one dude presiding over half the mortgages in the country. that is the situation right now. there is a guy whose name is ed dimarco who presides over half the mortgages in the country. >> that was then and that's true. the ori...

Current mortgage situation in america is so troubling. now, barney frank is set to retire. the fight here, jenna, is about whether or not to have fannie mae accept more principal write-downs ofa ed dimarco who is the government overseer has said no to that. he's saying, essentially, do more -- lengthen the terms of these loans and keep interest rates low. in fact, fannie mae and freddie mac did not take on the more exotic loans that banks are now writing down the principals for, so even if former fannie mae official has said, look, the way barney frank wants to go would be really, really expen...