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.


Real Estate Transfers For Nov. 6-12

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)

Neighbors Want Signed Covenant On Restrictions For Issa Project On East Brainerd Road

Neighbors said they want a signed covenant on agreed restrictions for a $25 million development by Bassam Issa on a large tract at East Brainerd Road and Ooltewah-Ringgold Road. Mark West, a neighbor leader, said the agreement was hammered out after 16 meetings between the developer and the group. However, he said many of the restrictions were not included in the resolution ... (click for more)

Bradley County Police Investigating Shooting; Victim Dies

The Bradley County Sheriff’s Office is investigating a shooting that occurred in the area of Georgetown Road. The Sheriff's Office said Sunday night that the victim had died. The victim's name has not yet been released.  A BCSO officer was waved down at the intersection of 25 th Street and Peerless Road by the driver of a vehicle who told the officer a gunshot victim ... (click for more)

Dog Saves Woman From Fire At Highway 58 Area

A homeowner reported that her dog saved her life early Friday morning. At 12:52 a.m. , the homeowner called 911 reporting a fire at 8411 Providence Road (Highway 58 area). The Highway 58 Volunteer Fire Department responded and arrived reporting a log cabin with flames coming through the roof. Firefighters worked quickly to contain the fire, but it was a challenge due to  ... (click for more)

Don't Be Quick To Discard Common Core

Let's not be too quick to discard Common Core. A recent article in the Tennessean on  Sunday detailed Common Core successes the Kingsport, Tennessee school system.  I encourage you to read it.  The article also noted that Tennessee was recently ranked as one of the fastest improving states in education after implementing portions of the Common Core curriculum ... (click for more)

Roy Exum: Our Tubman Goat-Roping

Every spring there comes a bright day on the ranch when the straw-boss decrees a goat-roping should take place. What really happens is the veteran cowboys arm the greenhorns with some lariats late in the afternoon and take them to the pen that holds some Billy goats. This is before they get into bigger beasts -- horses and cattle – yet what appears to be easy most certainly is not. ... (click for more)