releases: https://www.corker.senate.gov/public/index.cfm/news-list?ContentRecord_id=7e544860-33c3-40f0-860e-0b4968ef51b1
Data license: MIT · Data source: dwillis/congress-press
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| https://www.corker.senate.gov/public/index.cfm/news-list?ContentRecord_id=7e544860-33c3-40f0-860e-0b4968ef51b1 | Corker Statement on FHFA Decision to Fill Affordable Housing Funds | 2014-12-11 | 2014 | 2014-12 | Republican | House | TN | Bob Corker | C001071 | www.corker.senate.gov | legacy | WASHINGTON – U.S. Senator Bob Corker (R-Tenn.), a member of the Senate Banking, Housing and Urban Affairs Committee, today commented on a Federal Housing Finance Agency (FHFA) decision to direct Fannie Mae and Freddie Mac to begin making contributions to the Housing Trust Fund and the Capital Magnet Fund, affordable housing funds established in 2008. The FHFA previously suspended payments to the funds due to the financial instability of the government-sponsored enterprises (GSEs). “It is beyond irresponsible to restart these affordable housing allocations without first dealing with the underlying problems at Fannie Mae and Freddie Mac,” said Corker. “These two entities would not be generating one penny of revenue without taxpayer backing, and until the American taxpayers are taken off the hook for a future bailout, FHFA should continue to suspend payments to these funds.” During 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. Despite this unsustainable situation, there still has been no real reform to our housing finance system. A recent FHFA stress test projected that Fannie Mae and Freddie Mac could require a $190 billion taxpayer bailout to keep them afloat during a future crisis. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |