Sen. Bob Corker, R-TN, and Mark Warner, D-VA, wrote Federal Housing Finance Agency Director Mel Watt urging him to avoid taking steps that would lead to the GSEs’ release from conservatorship without comprehensive reform. The letter, sent on July 7, argued that doing so would perpetuate the pre-crisis practice of pubic losses and private gains. Senator Mike Crapo, R-ID, Heidi Heitkamp, D-ND, Dean Heller R-NV, and Jon Tester, D-MT, also coauthored the letter. They agree that an overall change to the existing structure needs to take place, but warned that it should only come through housing finance reform legislation and not any unilateral action by the administration.