In the News
Politico: America’s Housing Market Is Broken
Here’s how a bipartisan group of senators is trying to fix it.
Apr 29 2014
"They say that the best time to fix a leaky roof is when the sun is shining. So now that we are out of the financial storm, this is the time to fix our broken housing finance system. If we don’t, we will be no better prepared for the damage that will rain down when the next tempest comes."
These are pretty gross distortions of the status quo, in which big banks already supply most mortgages, and of a proposal for change that would replace the busted Fannie-Freddie model of implicit, unlimited government backing for securitized mortgages with an explicit, limited federal guarantee that would require private-sector bond issuers to absorb most catastrophic losses.
Today’s mortgage market is far from healthy, and unless reformed it will deteriorate further, resulting in higher mortgage rates and less lending to creditworthy borrowers.
In Memory of Phyllis Galanti
Apr 24 2014
I was so sorry to hear of the passing of Phyllis Galanti of Richmond who was both a dedicated advocate for our POWs and an American hero herself.
The 60-Plus Association came out today with another misleading and factually inaccurate ad targeting bipartisan housing finance reforms. This second ad is just as erroneous as the first, which the nonpartisan site FactCheck.org said stretched the truth to “absurd lengths” to attack the bipartisan Housing Finance Reform and Taxpayer Protection Act.
CNBC: Momentum for housing-finance reform
Apr 23 2014
"Further, failure to address the future of the secondary mortgage market will have far reaching implications to the overall economy. So don't allow yourself to be fooled. Housing finance reform is needed, and the current efforts in the Senate are headed in the right direction."
Senator Warner traveled across Virginia last week for events in Fredericksburg, Richmond, and Norfolk.
The key to economic development in Southside Virginia is a continuing focus on education and workforce training, according to U.S. Sens. Mark Warner and Tim Kaine and state Sen. Bill Stanley.
Senator Mark Warner was in Hampton Roads Thursday for a meeting at Naval Station Norfolk and stopped by the WAVY Newsroom to talk about some hot button issues — your money and security at military installations.
A bipartisan bill sponsored by Sens. Mark Warner, D-Va., and Rob Portman, R-Ohio, unanimously passed the Senate on Thursday. The Digital Accountability and Transparency Act (DATA) would call for all money spent by federal agencies to be traceable on a common website.
