Subject: File No. S7-14-11
From: Karen Renken
Affiliation: Financing

June 3, 2011

It is so important to keep the housing market going. When people are buying, selling and building homes more people are employed. To put a restriction of consumers needing 20% down would not good in my opinion. That is why PMI was brought about to protect the lenders investment. If companies would not have done the stated income loan program or would not done adjustable rate programs... I think we would have had less issues. The guidelines we have in place right now to buy homes is strict enough and to add one more layer of strictness, of 20% down on top of things would not be good. I trust you will rethink this. Thank you for your time in this matter.