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Update from Senator Bob Corker
April 16, 2012

Government Should Not Encourage Homeowners to Default

***Click image to watch video***

Appearing on CNBC’s Squawk Box last Friday, Senator Corker warned that a U.S. Treasury Department plan to forcibly push principal reduction loan modifications at Fannie Mae and Freddie Mac could incentivize homeowners to default on their mortgages.  Earlier in the week, he urged Ed DeMarco, acting director of the Federal Housing Finance Agency, to avoid encouraging this kind of irresponsible behavior on the part of American homeowners.

“The last thing the federal government should be doing is taking taxpayer money and creating a program that incentivizes homeowners to not pay their mortgages, and I thank you for your record in standing up against efforts that would do just that,” Corker said in a letter to DeMarco.  “As policy makers, we should reward responsible behavior, not encourage reckless behavior. At no time should any program designed by the government discourage those borrowers working hard to stay current on their mortgages from doing so.” 

On Tuesday, April 10, DeMarco gave a speech to the Brookings Institution outlining the challenges associated with principal reduction loan modifications.

The Hill ("On the Money" blog): Banks, GOP lawmakers fear top housing regulator moving to mortgage write-down

Free Enterprise Key to America’s Success

April 10, 2012 – Sen. Corker speaks to the Tennessee Mortgage Bankers Association in Nashville.

Senator Corker has met with constituents throughout Tennessee over the past two weeks to discuss the economy and what needs to happen in Washington to reduce the nation’s debt and spur private sector economic growth.  Last Tuesday he addressed the Tennessee Mortgage Bankers Association and later met with community leaders involved with “Franklin Tomorrow,” a non-profit civic initiative to create and implement a shared vision for the future of Franklin.

April 10, 2012 – Sen. Corker addresses community leaders in Franklin.
April 5, 2012 - Sen. Corker addresses members of the Rotary Club of Chattanooga.

In remarks to the Rotary Club of Chattanooga on April 5, Senator Corker discussed our country's fiscal challenges and the importance of embracing the free enterprise system that has made our country great and lifted millions around the world out of poverty.

Williamson Herald: Corker visits “happiest county in the state”
Nooga.com: Corker downplays VP talk in Chattanooga speech

Rally Point Assists 500+ Veterans

April 4, 2012 - A group of Tennessee veterans speak with one of the 40 agencies and organizations at Rally Point.

Over 575 people attended Rally Point on Wednesday, April 4, an event sponsored by Senator Corker, Knoxville Mayor Madeline Rogero and Knox County Mayor Tim Burchett to provide veterans and their families with a "one-stop shop" to connect with 40 agencies and organizations that assist with everything from VA claims to employment assistance. 

"This is about serving those who have served our country. I thank Mayor Rogero, Mayor Burchett and all the organizations involved for helping us organize this event, and I hope it will be a great resource for Tennessee veterans that we can replicate in other parts of the state." said Corker.

 
April 4, 2012 - The event was held at the Jacob Building at Chilhowee Park in Knoxville.
April 4, 2012 - Rally Point was free and open to all Tennessee veterans. Future Rally Point events are being planned throughout Tennessee.

Knoxville News Sentinel: Rally Point 2012 aims to connect veterans with assistance
WATE.com: One-stop shop helps East Tennessee veterans find resources, services

Mule Day Parade

Senator Corker was in Columbia on Saturday, March 31, to participate in the annual Mule Day Parade.

In the News

Chattanooga Times Free Press, Free Press Editorial: Fortunate to have Sen. Corker
April 07, 2012
SECTION: FREE PRESS; Pg. B7
With Chattanooga's and Tennessee's U.S. Sen. Bob Corker in Chattanooga this week, speaking to the Rotary Club on Thursday, we hope Tennesseans realize how very fortunate we are to have Sen. Corker serving us all well in Washington.
It was natural, we suppose, that a question came up as to whether there is a possibility that Sen. Corker just might be "considered for -- or would accept if offered" -- the U.S. vice presidential spot with the Republican presidential candidate who will be nominated this year.
Sen. Corker responded to such questions by saying, "There's a time and a place to talk about those kinds of things, and now is not it." He's certainly correct. "Sorry to be so evasive," the senator said with a smile.
Sen. Corker is a very fine, capable and admirable U.S. senator. He is up for re-election this year -- and should be re-elected overwhelmingly because of his demonstrated merit.
But it has been noted that an "unofficial list" of "17 prospective people" are "thinking about" challenging Sen. Corker's re-election.
Such is politics.
We are most fortunate to have Sen. Corker representing us. We should keep him in the United States Senate.
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