{"database": "press", "table": "releases", "rows": [["https://www.corker.senate.gov/public/index.cfm/news-list?ContentRecord_id=55f670e9-ee6b-4ff8-9a4a-937122146ed1", "Corker Statement on FHFA 2016 Scorecard", "2015-12-17", "2015", "2015-12", "Republican", "House", "TN", "Bob Corker", "C001071", "www.corker.senate.gov", null, null, "legacy", "WASHINGTON  U.S. Senator Bob Corker (R-Tenn.), a member of the Senate Banking Committee, today released the following statement regarding the Federal Housing Finance Agencys (FHFA) 2016 Scorecard, which outlines the agencys priorities for government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.\r\nI applaud Director Watt and the FHFA for their sustained commitment to de-risk mortgage giants Fannie Mae and Freddie Mac, said Corker. Specifically, I am pleased to see the FHFAs continued focus on broadening the credit risk transfer program, with an emphasis on building out front-end transactions. While the timeline for the development of the Common Securitization Platform has been slow, I also am pleased to see specific targets outlined in the scorecard.\r\nUnder the direction of the FHFA, both GSEs continue to reduce their retained portfolios and transfer credit risk away from the taxpayers to the private sector. To date, the enterprises have transferred credit risk on loans with over $667 billion of unpaid principal balance. In a letter to Director Watt earlier this year, Corker raised concerns about the development of the Common Securitization Platform (CSP) and urged the agency to adopt changes to ensure the CSP is accessible to not only the GSEs, but also private sector participants at some point in the future.\r\nCongress still must act to protect taxpayers by reforming our nations housing finance system, which was made clear this week with inclusion in the omnibus of my Jumpstart provision with Senator Warner to prohibit for at least two years the misguided idea of recap and release, added Corker. In the meantime, I am pleased that the agency continues to move toward the system we envisioned with Corker-Warner and away from the current system that leaves the American people on the hook for a future bailout.\r\nLegislation first introduced by Corker and Senator Mark Warner (D-Va.) in June 2013, the Housing Finance Reform and Taxpayer Protection Act (S.1217), passed the Senate Banking Committee in May 2014 by a vote of 13 to 9. The bill would strengthen Americas 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.\r\nDuring the 2008 financial crisis, 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, the private market almost completely disappeared, and nearly every loan made in America today comes with a full government guarantee.\r\n###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.corker.senate.gov/public/index.cfm/news-list?ContentRecord_id=55f670e9-ee6b-4ff8-9a4a-937122146ed1"], "units": {}, "query_ms": 0.8216570131480694, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}