I, even I, am he that blotteth out thy transgressions for mine own sake, and will not remember thy sins.
I, (even) I - The God against whom your sin is committed, and who alone can and will pardon. (See Isaiah 44:22.)
(Am) he that blotteth out thy transgressions for mine own sake - (Isaiah 48:9; Isaiah 48:11.) How abominable a thing sin is, since it is against such a God of grace! "Blotteth out" is an image from an account-book, in which, when a debt is paid, the charge is cancelled or blotted out.
And will not remember thy sins (Jeremiah 31:34.) When God forgives He forgets - i:e., treats the sinner as if He had forgotten his sins.