There is a whole other level of supervisory and enforcement authority available to the bureau under a director approved with the consent of the Senate, mostly having to do with non-bank lending.
The expanded system would include a more comprehensive method for measuring lenders loss mitigation activities as well as their compliance with FHAs default servicing requirements.
The Congressman argues that if the two are not allowed pay down their draws from Treasury then any future funds sent" to the U.S. should be reinvested in the housing market.
Fed Chairman Ben Bernanke indicated that the central bank is leaning toward scaling down its MBS purchases later this year, and that rapidly rising mortgage interest rates dont pose a major threat to the fledgling housing recovery.