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May 11, 2017

Corker: FHFA Should Not Hinder Congressional Housing Finance Reform Efforts

May 11, 2017 – During a hearing today on the status of our nation’s housing finance system after nine years of conservatorship, U.S. Senator Bob Corker (R-Tenn.), a member of the Senate Banking Committee, pressed Federal Housing Finance Agency (FHFA) Director Mel Watt to explain how a draw on government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac’s line of credit at the Department of Treasury could disrupt the mortgage market, calling it a “baseless” argument. Corker also warned Watt against any unilateral action that would hinder or slow congressional efforts to reform the entities.