Mark Zandi

Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?

We are very much engaged across the government, very much engaged in streamlining and simplifying our activities with borrowers and lenders, because that saves time and saves costs and we believe we can do that while maintaining the same or increased levels of oversight and risk management.

A lot of people give actors credit when they gain weight for a role in a drama when they win an Oscar, but when you're doing a sitcom, people don't give you a lot of credit, because you've got to keep your weight on for five or six years if it's successful.