Bill Pulte

I'm not sure I totally understand the question.

I mean, as a general matter, I believe that occupancy fraud is wrong.

I believe that when people sign a piece of paper and they go to a bank and they say that they represent to a bank that they're going to do something and then they do something different, I believe that that is bank fraud.

I believe that that potentially is wire fraud.

And I believe that that is, in the case of mortgages, often mortgage fraud.

So, you know, we have rules in this country.

And I just say this, you know,

What is the point of laws if they're not going to be followed in this country?

And if people don't like the laws that are on the books, well, then go and change the law.

But if we have laws and if I promised, which I did promise the Senate to uphold the laws and follow the law and the statute, we have to follow the law and the statute always.

Well, the president decided many years ago to not sell this asset.

It was one of the best decisions that's ever been done, in my opinion, from the presidency as it relates to assets that the U.S.

government has had.

Why?

Because people wanted to sell it to investors for $100 billion, $150 billion.

I think that number is north of 50%.

$500 billion now that these assets are worth.

Since taking office, not just focusing on mortgage fraud and other systemic issues like safety and soundness mandates, like we just spent the last 10 minutes on, but is also focused on driving value and treating Fannie Mae and Freddie Mac as if they're businesses.

Taking cost out of these businesses that is redundant and unnecessary.

and also making sure that we are always thinking about how do we, within the confines of the law and in the best interest of the American people, run these things as businesses.