Richard Cordray, director of the Consumer Financial Protection Bureau, explains that the agency's top priority is home lending. "While the CFPB is charged with overseeing all sorts of financial products and services -- including credit cards, checking accounts and payday loans -- our greatest focus is on the mortgage market," Mr. Cordray writes. "It was, after all, the house of cards that crashed our economy and caused so much pain for millions of Americans."

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