Video & Transcript : 'homeowner financing' :

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US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Tuesday, February 24, 2026)

US Federal House Floor Meeting

Transcript Highlights:
  • of two measures: HR 4626, the Home Appliance Protection and Affordability Act, and HR 4758, the Homeowner
  • Homeowner Energy Freedom Act, under closed rules.
  • of two measures: HR 4626, the Home Appliance Protection and Affordability Act, and HR 4758, the Homeowner
  • of two measures: HR 4626, the Home Appliance Protection and Affordability Act, and HR 4758, the Homeowner
  • </c><02:41:36.640><c> and</c> increased costs for homeowners and increased costs for homeowners and renters
FL

Florida 2026 Regular Session

Community Affairs Feb 3rd, 2026

Community Affairs

Transcript Highlights:
  • Taking away regulations is the single best way to provide housing without using financing to do so.
  • And what that means is this, as a builder, and for my homeowner, he had to wait another two months until
  • Hyperscale data centers are critical infrastructure that support health care, logistics, finance, and
  • in technology, just like we want to be a leader in logistics, just like we want to be a leader in finance
Bills: S0484 , S0698 , S0706 , S0968 , S1118 , S1122 , S1134 , S1320 , S1342 , S1548 , S1614
Summary: The committee heard several housing, local government, utility, and transparency bills. SB 1342 on transportation infrastructure and land development regulations, by Sen. Rouson, was presented as a housing-affordability measure modeled on the Live Local Act for transit corridors. After adopting an amendment that removed the bill’s compelling-governmental-interest language in enforcement provisions, the committee heard testimony from local-government and housing interests both supporting and opposing the bill’s zoning preemption approach. The bill was reported favorably. The committee also reported favorably CS/SB 1614, by Sen. Leek, which was amended to remove stormwater and code-enforcement spending provisions and to tighten restrictions on local governments seeking state appropriations after audits or without required affirmations. SB 1548, the next Live Local Act iteration by Sen. Claddie Ude, was also reported favorably; it expands where Live Local projects may be located and adds fair-housing protections. SB 968 on home backup power systems, by Sen. McLean, was reported favorably after testimony from builders and energy-related stakeholders, with the sponsor noting he was still working on amendments to refine permit provisions. The committee then approved CS/SB 698, by Sen. Martin, which allows building permits for single-family homes to be issued before septic permits are finalized if application has been made, while still requiring septic approval before occupancy. Builders testified that septic permit delays were causing lengthy project delays and contract cancellations. The committee also reported favorably SB 1320, by Sen. Martin, requiring county tax-increase referenda to include a Department of Financial Services spending analysis if available; the sponsor said the goal was to give voters more standardized fiscal information, while opponents argued existing law already provides similar transparency. SB 484, by Sen. Avila, on data centers, was reported favorably after an amendment adding a knowledge requirement to the foreign-country-of-concern service prohibition; the bill addresses local planning authority, nondisclosure agreements, utility tariff requirements, and water-use limits for large data centers. The committee also reported favorably SB 1118, by Sen. Avila, creating a one-year public-records exemption for data-center location and proprietary information, with testimony split between economic-development supporters and transparency concerns. Finally, the committee took up SB 706, by Sen. Mayfield, preempting naming of major commercial service airports to the state and designating Palm Beach International Airport as Donald J. Trump International Airport subject to federal and trademark conditions; it was reported favorably after questions about local input and airport naming. The committee then heard extensive public testimony on SB 1134, by Sen. Yarbrough, which would prohibit counties and municipalities from funding, promoting, or taking official actions related to DEI and would create penalties and a private right of action for residents. The sponsor argued the bill was aimed at preventing taxpayer-funded DEI programs and cited examples from Jacksonville and other jurisdictions; opponents said the bill was vague, overbroad, and would chill local programs, public education, and civil-rights-related activities. The transcript ends during continued public testimony on SB 1134, with no final committee action shown in the excerpt.
FL

Florida 2026 Regular Session

Community Affairs Feb 3rd, 2026

Community Affairs

Transcript Highlights:
  • Taking away regulations is the single best way to provide housing without using financing to do so.
  • What that means is, as a builder and for his homeowner, they had to wait another two months until he
  • Hyperscale data centers are critical infrastructure that support health care, logistics, finance, and
  • in technology, just like we want to be a leader in logistics, just like we want to be a leader in finance
Summary: The committee first postponed SB 1122, then took up SB 1342 on transportation infrastructure and land development regulations. Senator Rouson explained the bill as a housing-affordability measure modeled on the Live Local Act, aimed at reducing local land-use barriers near transit corridors. The committee adopted an amendment removing the compelling governmental interest standard from enforcement and litigation provisions, then approved the bill. Testimony included support from a county commissioner and concerns from the Florida League of Cities and a Republican executive committee about overriding local zoning and creating rigid standards near transit stops. Members then heard SB 1614, which would let local governments use excess Florida Building Code enforcement funds for stormwater repairs and restrict eligibility for certain state appropriations if a government has been audited or fails to affirm it has no excess funds. An amendment removed the stormwater and code-enforcement building provisions and tightened the appropriations restrictions; the bill was reported favorably. The committee also approved SB 1548, the next iteration of the Live Local Act, expanding qualifying projects on public land and near airports, limiting setback-based height restrictions, clarifying agricultural-use issues, and strengthening fair-housing protections. SB 968 on home backup power systems was also reported favorably, with the sponsor noting he was still working on amendments regarding permits for generators, windows, and doors. The committee next approved SB 698, allowing building permits for single-family homes to be issued after septic permit application rather than waiting for septic approval, with builders and industry representatives citing long delays and lost contracts. SB 1320, requiring county tax-referendum ballot questions to include a Department of Financial Services spending analysis if available, also passed after debate over whether it duplicated existing audit transparency requirements. SB 484 on large-scale data centers was reported favorably after an amendment added a knowledge requirement to the prohibition on service to certain foreign-country-linked customers; testimony focused on electricity costs, water use, NDAs, and ratepayer protections. SB 1118, creating a one-year public-records exemption for data-center site plans and proprietary information, was also approved despite concerns about secrecy and local officials appearing to conceal development plans. Finally, the committee took up SB 706, which preempts naming of major commercial service airports to the state and would rename Palm Beach International Airport as Donald J. Trump International Airport subject to federal and trademark approval; it was reported favorably after questions from members about local input. The last major item was SB 1134 on official actions of local government related to DEI, which drew extensive questioning and public testimony. The sponsor said the bill would bar counties and municipalities from funding, promoting, or staffing DEI offices or programs, with violations treated as misfeasance or malfeasance and enforceable by resident lawsuits; supporters framed it as a merit-based, anti-bureaucracy measure, while opponents argued it was vague, overbroad, and would chill civil-rights, health, education, and cultural programming. The transcript ends during public testimony on SB 1134, before any final action on that bill is shown.
TX

Texas 89th Regular

89th Legislative Session Apr 24th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • of residential watering restriction the chair recognizes miss Harris Davila to explain the bill. homeowners
  • HB number 3109 by Perez of Harris relating to the operations of the finance. crimes intelligence center
  • administrative penalty for the Committee on Energy Resources, SB 1261 by Perry, relating to fine financing
  • SB 2185 by Hinojosa Adam relating to the bilingual education allotment under the public school finance
US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Wednesday, March 5, 2025)

US Federal House Floor Meeting

Transcript Highlights:
  • Today, an American homeowner spends about 34% more money on appliances than they did just 15 years ago
  • From 1995 to 2005, the average homeowner replaced their appliances about every 12 or 13 years.
  • From 1995 to 2005, the average homeowner replaced their appliances about every 12 or 13 years.
  • </c><03:38:25.000><c> replac</c><03:38:25.520><c> their</c> average homeowner replac their average homeowner
  • </c><03:38:57.239><c> 8</c> or expect to be used by the homeowner 8 or expect to be used by the homeowner
MA
Transcript Highlights:
  • They serve homeowners, commercial borrowers, municipalities, nonprofits, manufacturers, healthcare providers
  • They serve homeowners, commercial borrowers, municipalities, nonprofits, manufacturers, healthcare providers
Summary: The Special Legislative Commission studying the future of credit card payments and their impacts on small businesses held what leaders described as its last public hearing, though they said the commission would continue meeting to develop a report and recommendations. Chair Paul Feeney and other members noted the issue is complex and that they had sought testimony from a wide range of stakeholders before moving into a more deliberative phase. The commission adjourned after hearing from several in-person and virtual witnesses. Banking and card-industry witnesses, including the Massachusetts Bankers Association, the Card Coalition, the Electronic Payments Coalition, and others, argued that payment cards provide major benefits to consumers and merchants, including convenience, fraud protection, fast settlement, and broad access to electronic commerce. They warned that state-level changes to interchange rules could create a patchwork of conflicting requirements, disrupt global payment systems, and especially affect state-chartered community banks and small businesses. Several also said recent federal actions and litigation, including OCC and NCUA preemption rules and the Illinois interchange-fee litigation, have limited the practical reach of state laws. Restaurant, retail, and convenience-store witnesses pushed for relief from swipe fees, saying independent businesses operate on thin margins and pay fees on amounts that are not really their revenue, such as sales tax and gratuities. They urged transparency, the ability to surcharge, vendor compensation for tax collection, and limits on interchange or related fees. Some witnesses said merchants bear significant fraud and chargeback costs and that banks and card networks have not offered enough direct relief. Commissioners asked questions about surcharging, fee regulation, fraud, and whether industry should share more of the burden. No votes or formal actions were taken beyond adjourning the hearing.
LA

Louisiana 2026 Regular Session

Senate May 29th, 2026

Louisiana Senate Floor Meeting

Transcript Highlights:
  • mechanisms, and eligibility frameworks so that more and more members of our communities can become homeowners
  • mechanisms, and eligibility frameworks so that more and more members of our communities can become homeowners
LA

Louisiana 2026 Regular Session

Insurance Mar 18th, 2026

Insurance

Transcript Highlights:
  • Louisiana's outsized exposure to wind and the fact that many residents bundled their insurance—their homeowners
  • language doesn't read that if you have a bundled home and auto, that that catastrophe claim on the homeowners
Committee: House Insurance
Summary: The House Insurance Committee met on March 18 and first took up House Bill 739, which would clarify the Department of Insurance’s authority to investigate insurance fraud, issue cease-and-desist orders against unlicensed actors, and work with law enforcement. The sponsor and department said the bill was meant to address ambiguity identified in recent administrative rulings. The committee adopted two amendment sets, including language requested by the Division of Administrative Law to route appeals through the Administrative Procedures Act and a clarification that the bill does not apply to lawyers lawfully engaged in the practice of law, while preserving authority over attorneys acting outside that role. HB 739 was reported favorably as amended. The committee then advanced House Bill 413, which prohibits property and casualty insurers from increasing auto rates solely because of a catastrophe claim on a homeowner’s policy, with an exception for multi-line policies. The sponsor and Insurance Commissioner Tim Temple said the bill is intended to protect consumers and prevent one line of coverage from being penalized by a claim on another line. After a brief clarification about bundled policies, HB 413 was reported favorably. The committee also reported favorably on House Bill 234, which continues the Department of Insurance for another five years, and House Bill 850, a cleanup measure updating the standard fire policy’s cancellation notice period from 30 to 60 days to match prior law changes. The longest discussion centered on House Bill 174, as substituted, which would allow law enforcement to impound out-of-state vehicles when the driver cannot provide required bodily injury liability insurance, treating out-of-state drivers more like Louisiana drivers. Members raised concerns about how insurance would be verified, whether all states participate in electronic verification systems, and what safeguards exist when proof of insurance is unavailable or outdated. Testimony from State Police and OMV explained current verification practices, the limits of interstate data sharing, and existing officer discretion and exceptions for safety. Supporters argued the bill would improve fairness, reduce uninsured driving, and help lower costs for Louisiana residents. The committee adopted the substitute and reported HB 174 favorably by substitute. The committee then adjourned.
LA

Louisiana 2026 Regular Session

Insurance Mar 18th, 2026

Insurance

Transcript Highlights:
  • Louisiana's outsized exposure to wind and the fact that many residents bundled their insurance, their homeowners
  • language doesn't read that if you have a bundled home and auto, that that catastrophe claim on the homeowners
Committee: House Insurance
MN

Minnesota 2025-2026 Regular Session

House DFL Press Conference 3/4/26

Transcript Highlights:
  • In Minnesota, 48% of renters and 20% of homeowners are overburdened by housing, and that means that they're
  • In Minnesota, 48% of renters and 20% of homeowners are overburdened by housing, and that means that they're
Summary: House DFL leaders held a press event outlining an affordability agenda focused on housing, child care, health care, groceries, energy, and taxes. Speakers argued that Minnesota families are being squeezed by rising costs and income inequality, and said the caucus would pursue policies aimed at lowering everyday expenses and shifting more costs onto corporations and wealthy residents. Representative Bierman said health care costs are pushing people to skip care and called for system reforms, including moving toward a more universal model and reducing the role of insurers and pharmacy benefit managers. Representative Kotiza-Wazhushk said the caucus is pushing for universal or low-cost child care, expanded pre-K and community-based care, and a bill to stop grocery surveillance price gouging. Representative Acomb and other energy leaders said the House DFL wants to lower utility bills through more energy assistance, weatherization, renewable energy support, limits on utility cost recovery for lobbying and executive pay, and stronger PUC authority to prevent shutoffs and limit rate increases. Representative Agbaje described housing as unaffordable for many renters and homeowners, cited a shortage of housing units, and said the caucus supports restricting private equity and corporate purchases of single-family homes. Leader Stevenson framed the agenda as a response to a budget picture that he said reflects gains for corporations and wealthy Minnesotans, and he criticized federal tax policy and Medicaid cuts. In response to questions about cost, he said several proposals would not require state spending, while others could be funded by looking at new revenue and at those who benefited most from recent tax changes. The event also included a detailed explanation of the grocery surveillance pricing proposal, which would restrict the use of personal data and AI to set individualized prices and limit rapid electronic shelf price changes. No votes were taken.
MO
Transcript Highlights:
  • I don't like the idea of carve-outs, but at the same point, these homeowners, these property owners that
  • How do you address the concerns of the homeowner that was here earlier that's dealing with the, you know
Summary: The House Utilities Committee resumed hearing on House Bills 2402 and 2816, which address utility-scale solar development. The chair asked witnesses to keep comments to informational purposes, and testimony focused on setbacks, taxation, land conversion caps, county authority, decommissioning, and impacts on neighboring landowners and rural communities. Several witnesses said they supported solar in limited settings such as rooftops or industrial sites, but opposed or wanted changes to the bills’ treatment of agricultural land, especially the proposed 4% cap on cropland conversion and the 500-foot setback from homes. Testimony from landowners and farm groups emphasized concerns about property rights, viewshed impacts, fire risk, drainage and floodplain issues, and the loss of agricultural tax base and local economic activity. They argued the proposed $2,500 per megawatt tax was too low and suggested higher rates, with some recommending $6,000 per megawatt or more, along with decommissioning requirements and stronger county-level protections. A Renew Missouri representative supported much of the bill but preferred a smaller setback and raised constitutional concerns about changing solar land from agricultural to commercial assessment. Other witnesses, including a county commissioner, described local regulations already in place in some counties and asked for clearer statewide standards. Industry and utility representatives said the legislation was generally workable but needed further discussion on setbacks and property tax treatment. Clean Grid Alliance and related witnesses argued that tax comparisons with other states should account for total tax burden, not just nameplate taxes, and said higher taxes would raise electricity costs for consumers. Ameren Missouri said it was acceptable with most provisions, but cautioned against overly aggressive real-property assessments and noted its current and planned solar buildout. The hearing ended without a vote; the committee adjourned after taking testimony on both bills.
FL

Florida 2026 Regular Session

Environment and Natural Resources Feb 3rd, 2026

Environment and Natural Resources

Transcript Highlights:
  • He said that would be bad environmental policy, bad economic policy, bad for homeowners, and bad for
  • if you decide that you want to site a new one, that you just make sure that you have away from homeowners
Bills: S0912 , S1196 , S1422 , S1510 , S7034
Summary: The Environment and Natural Resources Committee met with a quorum and took up several environmental bills and one appointment. SB 1422, as amended by a strike-all focused on coral reef protection and designating coral reefs as critical natural infrastructure, was reported favorably after support from Audubon Florida was noted. The committee then considered SPB 7034, a DEP rule ratification related to minimum flows and levels for the Lower Santa Fe and Ichetucknee Rivers and associated recovery strategy; witnesses from the Florida Springs Council and local river advocates criticized the plan as too delayed and too dependent on a single future water project, while committee members raised questions about funding and utility responsibility. Despite concerns, the committee approved the bill as a committee bill, with Senator Smith voting no. The committee next heard SB 1510, as amended, which made technical changes to DEP-related provisions including B-MAP notice and timing, septic system requirements in Florida Springs areas, biosolids, fees, land acquisition, and rulemaking procedures. The main public testimony came from the Florida Springs Council, which opposed the 60-day delay for B-MAP effectiveness as harmful to spring restoration, while DEP and others supported the measure. The bill was reported favorably. The committee also considered SB 1196, a targeted siting bill restricting new ash-producing incinerators or waste-to-energy facilities within two miles of large federally authorized water impoundment areas, with an amendment narrowing the practical effect to Miami-Dade and Broward counties. Supporters, including the City of Miramar, argued it would protect water resources and communities; opponents from the Florida Waste-to-Energy Coalition argued it would limit local waste-disposal options and could force more landfilling. The bill was reported favorably. Finally, the committee heard SB 912, the Safe Battery Collection and Recovery Act, which would require battery stewardship organizations and related recycling plans to keep batteries out of the waste stream. Industry and recycling representatives supported the bill, citing growing battery volumes and fire risks at recycling facilities. The committee also recommended confirmation of Gary Jennings to the Atlantic States Marine Fisheries Commission. All measures were approved favorably except that Senator Smith voted against SPB 7034; the meeting then adjourned.
TX

Texas 89th Regular

Trade, Workforce & Economic Development Apr 23rd, 2025

Trade, Workforce & Economic Development

Transcript Highlights:
  • Older homeowners are not immune from the effects of recent economic trends and the resulting changes
  • The greater frequency of natural disasters is leading to increases in the cost of homeowners insurance
FL

Florida 2025 Regular Session

April 9, 2025 - 08:00 AM

Transcript Highlights:
  • To a lot of innocent homeowners that they pay their dues. It's been all over the news.
  • But as a homeowner, as a resident of Florida, I've lived my whole life in Florida.
Summary: The committee first took up a local beverage-license bill for the World Equestrian Center in Marion County. The sponsor described the facility’s size, economic impact, and rapid expansion, and explained that the bill would direct DBPR to issue a special license for qualifying equestrian sports facilities. After questions about whether the carve-out would set a precedent for other businesses, the sponsor said the unique facts of the facility justified the bill. An amendment narrowed the off-premises alcohol authority so the license would allow beer and wine only for off-premises sales, while still allowing on-premises sales of all alcoholic beverages and a standalone bar on the premises. The amendment was adopted, and the bill passed 16-1, with Representative Rayner voting no. The committee then heard PCS for HB 1461, a broad regulatory-reform bill that would repeal continuing education requirements for certain licensed professionals, eliminate several boards/councils/commissions at DBPR and DACS, remove some secondary licenses, and expand licensure pathways. The sponsors argued that most complaints are already handled administratively, that the boards create bureaucracy and cost, and that the bill would improve efficiency without changing initial licensure standards. Members raised concerns about whether DBPR has the subject-matter expertise to replace professional boards, especially for engineering, harbor pilots, electrical work, home inspection, architecture, interior design, and related fields, and about whether removing continuing education could weaken public safety and code compliance. Public testimony on the PCS was mixed but leaned strongly against the bill from affected professions. Opponents from architecture, electrical contracting, home inspection, geology, interior design, real estate, and related groups argued that the boards provide technical expertise, discipline, and updated knowledge tied to changing building codes and safety standards, and that continuing education is important for public protection. Some supporters, including representatives of CPAs and landscape architects, said they appreciated efforts to streamline licensing and reduce anti-competitive barriers but still had concerns about specific provisions. The committee adopted two amendments: one requiring 30 days’ notice for an address change for a prescription sales business, and a second technical amendment. No final vote on the PCS was taken in the portion provided.
FL

Florida 2025 Regular Session

Judiciary Mar 4th, 2025

Transcript Highlights:
  • liken it to another situation that we had just a few years ago in regard to the to the cost of homeowners
  • And as a result, the prices of homeowners insurance has begun to come down and they have begun to come
NH

New Hampshire 2026 Regular Session

House Criminal Justice and Public Safety (01/22/2026)

Criminal Justice and Public Safety

Transcript Highlights:
  • As part of the finances, because of the situation that's going on right now, they've already put some
  • </c><01:51:21.600><c> um</c><01:51:21.840><c> they've</c> Um as part of the finances um they've Um as
  • part of the finances um they've already<01:51:22.800><c> put</c><01:51:24.000><c> um</c><01:51:24.159
  • and was convicted of from homeowners and was convicted of that<02:10:24.880><c> fraud.
  • </c> a lot of statistics about the finances a lot of statistics about the finances and<03:43:17.920><
TX

Texas 89th Regular

Appropriations Feb 19th, 2025

Appropriations

Transcript Highlights:
  • No, your ATHREF rating doesn't affect school district finance. I think in any way. Okay.
  • Because we all agree the finance system is very complicated.
  • The way the school finance system works, but so we're happy to prepare that and send it to you.
  • So many communities need low-cost financing.
  • Tremendous amount of short-term financing.
AL

Alabama 2025 Regular Session

Alabama House Mobile County Legislation Committee Apr 9th, 2025

Mobile County Legislation

Transcript Highlights:
  • Charged one flat fee for the whole lot, while individual homeowners have to pay the full amount.
Bills: SB221 , SB224 , HB440
HI

Hawaii 2025 Regular Session

JHA Public Hearing - Wed Feb 19, 2025 @ 2:00 PM HST

Judiciary & Hawaiian Affairs

Transcript Highlights:
  • We represent homeowners and associations who are trying to recover for construction defects in their
  • The contingency fee structure is a very important tool in Hawaii to allow homeowners and associations
  • Contingency fees allow homeowners who don't have the funds to pay for litigation to get an attorney who
  • Homeowners cannot see them, cannot maintain them, and cannot access them.
  • And so we are often representing many homeowners in large, expensive, and long-ranging class actions
Summary: The House Committee on Judiciary and Hawaiian Affairs met on February 19, 2025, and first heard House Bill 150, which would prohibit lending a firearm to someone who does not have a firearm permit or a registered firearm. The Department of Law Enforcement and the Honolulu Police Department supported the bill, though HPD said enforcing any time limit on a loaned firearm would be difficult. Several members of the public opposed the measure, arguing it would interfere with lawful lending for hunting, competitions, training, military-related use, and family situations, and could create unintended criminal liability. One supporter said the bill would strengthen gun safety and encourage more responsible ownership. No vote was taken during the testimony portion described. The committee then heard House Bill 186, which would make harassment by stalking a class C felony. The Office of the Public Defender requested deferral, arguing the bill would remove a misdemeanor option that can help deter escalation and could be unnecessarily severe and burdensome. Honolulu Police Department supported the bill, saying stalking can be a precursor to more serious violence. The Hawaiʻi State Coalition Against Domestic Violence and the Department of the Prosecuting Attorney raised concerns about how the new felony would fit within the existing grading scheme, noting that aggravated harassment by stalking and first-degree terroristic threatening are already class C felonies. April Bautista testified in strong support, describing her own experience with domestic violence and stalking and urging passage of the bill. Committee members discussed whether other penalty structures might be possible, but no final action was taken in the portion provided. The committee also heard House Bill 991, which would delete the term “agent of the contractor” from criminal history record check provisions to comply with FBI requirements. The Hawaii Criminal Justice Data Center supported the bill with comments, explaining that the FBI had found the term too broad for fingerprint-based background checks tied to access to federal tax information. In addition, House Bill 995 was introduced, changing deadlines for annual firearms carry reporting; the Department of the Attorney General supported it, saying the revised deadlines would allow a more complete report, and HPD was also heard on the measure. The transcript ends before any votes or final committee actions on these bills.
MN

Minnesota 2025-2026 Regular Session

Committee on Commerce and Consumer Protection - 03/20/25

Commerce and Consumer Protection

Transcript Highlights:
  • This bill would actually make it easier for homeowners, consumers to access the equity they have in their
  • This bill would actually make it easier for homeowners, consumers to access the equity they have in their
  • These challenges impact Minnesota consumers who may be turned away from subordinate lien financing and
  • and forced to subordinate lean financing and forced to turn<00:51:45.200><c> to</c><00:51:45.440><c>
  • Thank you. subordinate lean financing. Thank you.