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.


Chattanooga Recognizes National Fair Housing Month In April

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Fire On Crutchfield Street Ruled Arson

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The Problems With Prescription Drug Addiction

In Tennessee today, we have a major problem with prescription drug addiction, particularly when powerful opioid pain relievers are concerned.    For the first time in 2012, Tennesseans abused prescription opioid drugs more than alcohol.  Our young people ages 18-25 abuse prescription opioids at a 30 percent higher rate than the national average.  In just five ... (click for more)

Roy Exum: I Recall J.C. Owens

If you were to go to Oakville, Ala, a little ways from Decatur, about the biggest thing you’d find would be some 20 or so Indian mounds, where the early tribes would bury their dead many centuries ago. But if you sniffed around a bit, you’d learn it was the birthplace of James Cleveland Owens, a man whose name is of no consequence to anyone. I’m proud to say I talked to him ... (click for more)