Corker Says BPC Housing Reform Proposal Headed In Right Direction

Credits Report’s Focus On Restoring Private Mortgage Capital And Resolving Legal Limbo Of Fannie & Freddie

Monday, February 25, 2013

Responding to a housing reform report from the Bipartisan Policy Center, Senator Bob Corker, (R-Tn.), a member of the Senate Banking, Housing and Urban Affairs Committee, credited the proposal for focusing on putting “substantial private capital in front of the government” and “resolving the legal limbo” of government-sponsored enterprises Fannie Mae and Freddie Mac, which own or guarantee roughly half all mortgages in the U.S. at a total value of more than $5 trillion. Fannie and Freddie were taken into government conservatorship in 2008 and have already cost taxpayers $137 billion.

“I look forward to reviewing the report in more detail, but it appears to be headed in the right direction by putting substantial private capital in front of the government and resolving the legal limbo of the GSEs,” said Sen. Corker. “I thank them for their contribution to the conversation, and I hope we get serious and long-term reform this year.”

In the last Congress, Sen. Corker introduced legislation to responsibly unwind Fannie Mae and Freddie Mac and end dependence on the government for housing finance.


Home Sales Increase In April In Chattanooga

Home sales increased in April in Chattanooga, according to a report from the Greater Chattanooga Association of Realtors.   The report said, "As we turn the page to the second quarter of 2015, a proliferation of new  listings is expected in most markets across the U.S. Spring is traditionally the  commonplace time of the year that we see some of the most desirable ... (click for more)

Georgia Real Estate Investor Pleads Guilty To Bid Rigging And Fraud Conspiracies At Public Foreclosure Auctions

A Georgia real estate investor pleaded guilty on Tuesday for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia, the Department of Justice announced. Felony charges against Eric Hulsman were filed on March 27, in the U.S. District Court of the Northern District of Georgia in Atlanta. According to court documents, from ... (click for more)

Woman, 25, Dies From Wreck On Barton Avenue

A 25-year-old woman has died from injuries received in a head-on accident on Barton Avenue in North Chattanooga on Saturday. The victim was Stephanie Kilburn . At approximately 2:25 p.m. , the Chattanooga Police Department responded to 800 Barton Ave. on an accident with injuries. V ehicle 1 was traveling southbound on Barton Avenue and failed to stop at a stop ... (click for more)

City Seeking Grant To Improve Signals At 32 Intersections

The city is seeking a $2 million federal grant to go along with $500,000 in city funds for a project to improve signals at 32 intersections. There would also be bike and pedestrian improvements. The routes include Brainerd Road, Lee Highway, Shallowford Road, Gunbarrel Road and Hamilton Place Boulevard. The application is for a Congestion Mitigation and Air Quality Grant. (click for more)

A Memorial Day Reflection

I wish I could find that combination of words that would capture an inclusive meaning of Memorial Day.  I have attended many Memorial Day programs at the Chattanooga National Cemetery, so many that now they have merged into one memory.  But what stands out is that each year there are more friends and veterans to visit.  Some gave their all many years ago.  And ... (click for more)

Roy Exum: Keep Your ‘Dirty’ Feed

Mark Twain once observed the difference in a cat and a lie is that a cat only has nine lives. You might remember that when you hear that a group of Tennessee Walking Horse trainers just donated two tons of horse feed “to aid and assist in the rehabilitation” of 55 horses that were rescued from deplorable conditions at a West Tennessee farm. The truth is that the horses were taken ... (click for more)