Corker Applauds Senate Banking Committee Passage Of Housing Finance Reform Bill

Thursday, May 15, 2014

Senator Bob Corker, a member of the Senate Banking Committee, on Thursday commended the committee’s passage of the Housing Finance Reform and Taxpayer Protection Act (S.1217) and called on the Senate Majority Leader to schedule a floor vote on the bill this Congress. The bill passed the committee in a 13-9 bipartisan vote.

Senator Corker said, “After more than a year of discussions and a dozen hearings, I am extremely proud the banking committee took a significant step toward building a modern and more efficient housing finance system that provides access to creditworthy borrowers while protecting taxpayers from writing massive checks in the heat of a future financial crisis. This bill serves as a model of how we can tackle the major challenges in our economy and should become the framework for how our housing finance system will ultimately look.”

“I hope the Senate Majority Leader recognizes this tremendous opportunity to address the unfinished business of the 2008 financial crisis and schedules a floor vote on this important, bipartisan bill,” said Senator Corker. “The Senate should not let this moment pass by, allowing the status quo of private gains and public losses to continue.”

In June 2013, Senators Corker and Mark Warner (D-Va.) introduced S.1217, which gained the support of 10 Senate cosponsors, to strengthen America’s housing finance system by replacing government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac with a privately capitalized system that preserves market liquidity and protects taxpayers from future economic downturns.

Officials said, "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 our housing finance system since the financial crisis."

In addition to Corker and Warner, Chairman Tim Johnson (D-S.D.), Ranking Member Mike Crapo (R-Id.), Senators Tom Coburn (R-Ok.), 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.), and Joe Manchin (D-W.V.), voted in favor of passing S. 1217 out of the Senate Banking Committee.

Click here to watch Senator Corker’s opening statement at the Senate Banking Committee’s markup on housing finance reform.


Keller Williams To Shut Down Office To Hold Event To Help Improve Lives Of Foster Children

Keller Williams Greater Downtown Realty will shut down its office for the day to give where they live. RED Day, which is Keller Williams’ annual day of service that stands for Renew Energize and Donate, will be held on Thursday, May 12, at 9 a.m. at Chambliss Center for Children, 315 Gillespie Road. Over a hundred Keller Williams associates donate a day to volunteer by painting, ... (click for more)

Real Estate Transfers For April 21-27

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)

Chattanooga Firefighter Arrested For Robbery Of Hixson Convenience Store

The Chattanooga Police Department has arrested a Chattanooga firefighter in connection with a robbery on Sunday morning. The firefighter has been identified as Steven Kyle Ratledge. Firefighter Ratledge was assigned to Station 19 in Hixson and has been with the department for approximately 3 1/2 years. Firefighter Ratledge has been placed on leave without pay as the investigation ... (click for more)

Rescuers Help Man After He Falls 30 Feet From Signal Bluff

Rescuers helped a man back up after he fell 30 feet on a Signal Mountain bluff on Saturday night. However, he was not seriously injured. At 11 p.m., a 911 call was made reporting the fall. Walden's Ridge Emergency Services responded to 1425 East Brow Road. When rescue personnel arrived on the scene, they reported a 25-year-old male had fallen 30 feet off the side of ... (click for more)

Being Proactive With Parkinson's Disease

Parkinson’s disease is the second most common neurodegenerative disease after Alzheimer’s and is the 14th leading cause of death in the United States. It affects an estimated one million Americans and four to six million worldwide,  There is no cure for Parkinson’s, and 60,000 new cases are diagnosed each year in the United States alone. Source: National Parkinson’s Foundation  ... (click for more)

Roy Exum: My Garden In May

Back when we were kids this day’s battle cry was, “Hooray, hooray for the First of May! Outdoor swimming starts today! With temperatures in the high 80s and we dive in to a new month, our monthly walk in a garden heavy with spring time pollen looks promising … AN ORCHID for the movie “Rocky” on its 40 th anniversary: “Let me tell you something you already know. The world ain’t ... (click for more)