Corker Looks Forward To Successful Markup Of Housing Finance Reform Legislation

Friday, March 28, 2014

U.S. Senator Bob Corker, a member of the Senate Banking Committee, issued the following statement Friday after Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) announced the committee will markup the Housing Finance Reform and Taxpayer Protection Act (S.1217), a bipartisan bill introduced last year by Senator Corker and Senator Mark Warner (D-Va.) and cosponsored by a bipartisan group of 10 senators, on Tuesday, April 29, at 10 a.m. 

“After a dozen hearings on housing finance reform and S.1217, the committee is well prepared to act, and I look forward to a successful markup at the end of April," said Senator Corker.  "It's time for Congress to move forward on modernizing our housing finance system to protect the American taxpayer from any more bailouts. I appreciate Chairman Johnson and Ranking Member Crapo’s strong commitment to this important issue."

In June 2013, Senators Corker and Warner introduced S.1217 to strengthen America’s housing finance system by replacing government-sponsored enterprises Fannie Mae and Freddie Mac with a privately capitalized system that preserves market liquidity and protects taxpayers from future economic downturns.

In 2008, Fannie Mae and Freddie Mac were taken into government conservatorship and given a $188 billion capital injection from taxpayers to stay afloat. As a result of this bailout, the private market has almost completely disappeared, and so nearly every loan made in America today comes with a full government guarantee. Despite this unsustainable situation, there still has been no real reform to the housing finance system since the financial crisis, said officials.

In addition to Senators Corker and Warner, S. 1217 is currently cosponsored by Senators Mike Johanns (R-Neb.), Jon Tester (D-Mont.), Dean Heller (R-Nev.), Heidi Heitkamp (D-N.D.), Jerry Moran (R-Kan.), Kay Hagan (D-N.C.), Mark Kirk (R-Ill.), Joe Manchin (D-W.V.), Saxby Chambliss (R-Ga.), and Mark Begich (D-Alaska), which includes five Republicans and five Democrats from the Senate Banking Committee.


Real Estate Transfers For Nov. 24-30

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)

Robinson Realty Group To Participate In MainX24 Celebration With Artist Showcase

Robinson Realty Group,  A  Southside   real estate brokerage,  at   601 East Main Street, is presenting Dianne Blankenbaker and Lisa Seago in an artist showcase on  Saturday , from 1-4  p.m. , as part of the MainX24 celebration. Featured artists include photographer, Dianne Blankenbaker, ... (click for more)

Signal Mountain Council Looking Into Taking Over Schools

A new group of Signal Mountain Town Council members is looking into taking over county schools within the town boundaries.   Two newly elected board members, Amy Speek and Dan Landrum, joined the council Friday afternoon at the first work session after the election. The election of mayor and vice mayor for the next two years came first on the agenda. Dick Gee, mayor ... (click for more)

East Ridge Meth Dealer Gets 168 Months In Federal Prison

A man that agents said was dealing large quantities of meth from his East Ridge residence has been sentenced to serve 168 months in federal prison. Kenneth Lemons appeared before Judge Curtis Collier. Agents said they made several controlled drugs buys from Lemons at his residence in 2015. On Oct. 27, 2015, he drove up to a residence where DEA agents were making a controlled ... (click for more)

Tennessee River Gorge Trust Trail Warriors Make You Want To Take A Hike

Trail warriors of the Tennessee River Gorge Trust make you want to take a hike.  The Tennessee River Gorge Trust staff and volunteers make a huge difference in the Chattanooga community and have been making the outdoor areas around the River Gorge clean and protected for more than 30 years.  They deserve to be recognized and praised for all of the hard work they have ... (click for more)

Roy Exum: Why Our Schools Stink

Cheryl Roddy has spent her lifetime, for the biggest part, as a teacher for the Hamilton County Department of Education and, more specifically, at East Ridge High School. She has loved teaching there for nearly 40 years and is hardly “average;” she has her master's degree in education, was twice East Ridge’s teacher of the year, was the first teacher at East Ridge to reach the first ... (click for more)