Corker Responds To Reports Of FHA Bailout

Wednesday, September 25, 2013

Senator Bob Corker, R-Tn., a member of the Senate Banking Committee, released the following statement responding to reports that the FHA will need a taxpayer-funded bailout from the U.S. Treasury to remain solvent:

“No reasonable person could believe that we should continue along with the current housing finance system in this country when three separate entities – Fannie, Freddie, and, according to reports, now the FHA – have all had to come to the taxpayer for billions of dollars in bailout funds,” said Corker.  

In July, Senator Corker commended the Senate Banking Committee for approving the bipartisan FHA Solvency Act of 2013, saying, “I applaud Chairman Johnson and Ranking Member Crapo for passing a bill that puts in place necessary tools and resources to get the FHA on better footing, and I am glad they have committed to building on this momentum and quickly moving a structural and bipartisan housing finance reform bill.”

In June, Senator Corker and Senator Mark Warner, D-Va.., introduced S. 1217, the Housing Reform and Taxpayer Protection Act of 2013, which would strengthen America’s housing finance system by replacing government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac with a modernized system that preserves market liquidity and protects taxpayers from future economic downturns.

Cosponsors of S.1217 include Mike Johanns, R-Ne., Jon Tester, D-Mt., Dean Heller, R-Ne., Heidi Heitkamp, D-N.D., Jerry Moran, R-Ks., Kay Hagan, D-N.C., Mark Kirk, R-Il., Joe Manchin, D-W.V., and Saxby Chambliss, R-Ga.


Habitat For Humanity Of Greater Chattanooga Greater Area And Thrivent Financial Partner To Improve A Family’s Life

Habitat for Humanity of Greater Chattanooga Area  has been awarded $67,000 from Thrivent Financial to support construction of a Habitat home for an area family, as part of the Thrivent Builds program. This is the eighth home in Chattanooga to be built, thanks to Thrivent’s support. Thrivent Builds with Habitat for Humanity is an ongoing multi-year, multi-million ... (click for more)

Real Estate Transfers For Jan. 22-28

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) ... (click for more)

Appeals Court Rules Against WWTA In Lawsuit Brought By Apartment Complex Over $8 Monthly Charges To Units

The Tennessee Court of Appeals has ruled in favor of an apartment complex that sued the Hamilton County Water and Wastewater Authority (WWTA) over an $8 monthly charge per apartment unit for preparing private service laterals. The court overturned a granting of summary judgment in favor of WWTA by former Judge Jackie Bolton. The appeals court said American Heritage Apartments, ... (click for more)

1 Dies In House Fire In Rhea County

Rhea County Fire Department officials said one person died in an early-morning house fire on Saturday. The call came at about 6:30 a.m. The brick residence is on Fisher Road. S tate arson investigators were on their way. (click for more)

It's Time To Insure Tennessee - And Response

Tennessee has a problem.  What is the value of saving the lives of 1,000 Tennesseans each year? That is exactly what can be expected if 176,000 Tennesseans gain health insurance through Insure Tennessee. A New England Journal of Medicine study showed that expansion of Medicaid was associated with a 6% reduction in yearly mortality for people in the 34-65 age group. Statistically, ... (click for more)

Roy Exum: Boots, Idiots & Guns

As the month of February was born this morning, allow me to hurriedly share three leftovers that were still in last month’s basket: * * * A first-grade teacher had endured a long day and was helping her students bundle up for the trip home when one of the little boys asked for help getting on his boots. Soon she could see why. Even with her pulling, and him pushing, the ... (click for more)