I say what's the rush!! The economy is moving along just fine at a snails pace. Why rush things?

Cordray also said the he fully expects 98% of mortgages to be QM's too, so take that for what it's worth.


(Purely delusional if you ask me, however.)

Codray is misinformed. His #2 guy at CFPB, Raj Date, left the bureau to start his own company that will buy non-QM loans. I suspect there is a much larger market for non-QM than anyone thinks.

I had to laugh at Cordray's statement that the CFPB was adding staff to help banks be in compliance on time. How is their staff going to help us? That's like saying they'll add more traffic cops so that drivers can move more freely on the highway.

Well, just yetserday the Supreme Court agreed to hear the case against the NLRB Recess Appointments which also includes the appointment of Cordray.

I don't know what (besdies mayehm) will happen if SCOTUS invalidates the appointments. I don't want to worry about it, because there is plenty of other things to take up my time, but it's going to be closely watched when they do hear the case.

edited to add link to case:
National Labor Relations Board v. Noel Canning