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» VISIT US ONLINE @ DSNEWS.COM 23 Congressman Neugebauer informs the audience that the chances for GSE reform in this congress are slim. Freddie Mac's Robert Kimble entertains the audience with his story of a chance encounter with Ben Bernanke. Five Star President & CEO Ed Delgado introduces the members of the agency update panel. Bayview Loan Servicing's Michael Waldron leads the discussion covering challenges that servicers face in "Cracking the Compliance Code." FIVE KEY TAKEAWAYS FROM THE 2015 FIVE STAR GOVERNMENT FORUM 1 According to Gebre, the No. 1 issue facing the FHA is getting enough funding from Congress. During the interview, the Commissioner also stated that affordability and lack of access to financing are holding back the housing market. On FHA's controversial reduction of the mortgage insurance premium, the Commissioner said it wasn't done specifically to stimulate home buying—two million homeowners who refinance will stand to benefit. 2 Neugebauer declared in his keynote address that "Too big to fail has made it too small to succeed." Several of the nation's largest financial institutions required government bailouts during the financial crisis to stay afloat, incurring great losses to American taxpayers and in turn greatly increasing the cost of doing business for everyone else. e Congressman has long fought on behalf of taxpayers and ending government bailouts. 3 "Demand weakness trumps credit tightness," according to Duncan. While many analysts have blamed tight lending standards for holding back homeownership, Duncan asserted during his keynote address at lunch that a lack of demand has done more to hold back housing recovery than a tight credit box. 4 Kiefer said through Twitter that a consistent theme for the govern- ment forum was "housing markets should improve but households need real income growth." Along those same lines, Duncan stated during his keynote address that household income and unemploy- ment rates are higher among younger adults, or millennials, than in previous generations, and that potential homeowners are exhibiting very conservative behavior. He said, however, he believes millennials will buy homes as soon as their income and employment issues are resolved. 5 "e key to cracking the compliance code is understanding the reason behind the regulation," according to Michael Waldron, Chief Compliance Officer with Bayview Loan Servicing, while moderating the "Cracking the Compliance Code" panel. "Too big to fail has made it too small to succeed."