Bob Corker actually said...

So hopefully as we do regulation we will make sure that this is something that we deal with, that this is not left to the side.

But along with recourse, it does make some degree of difference when the borrower asks for the loan, does it not?

there is a cost associated with loaning money out to people.

The fact is he stated here that these GSEs should not exist, that the private sector can deal with this issue perfectly adequately.