An earlier version of the bill that Corker tried to fast-track through the Senate did not include the prohibition on using g-fees to pay for unrelated government spending.
The congressman said the decision to sell thousands of loans at a time at sharp discounts to the highest bidder “continues to enrich Wall Street at the expense of neighborhoods and community-based organizations.”
Former Fannie executive Tim Rood, now chairman and founder of the Collingwood Group, said "the current posture by the administration is pretty indefensible.”