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Steven R. vonBerg quoted in S&P Global Market Intelligence article, “Late notice of Juneteenth federal holiday causes headaches for mortgage lenders”

S&P Global Market Intelligence

Steven R. vonBerg

Steve vonBerg discussed in the S&P Global Market Intelligence article, “Late notice of Juneteenth federal holiday causes headaches for mortgage lenders,” the impact that the last-minute decision to make Juneteenth a federal holiday had on mortgage lenders: "It was very much a balancing act between lenders' legal liability and their desire to meet their clients’ wants and expectations."

Commenting on the industry calling on the Consumer Financial Protection Bureau to provide guidance to ensure lenders are not held liable if they made the decision to continue with their mortgage closing schedules, vonBerg noted, "I think it would be helpful for the bureau to make a bit more definitive statement on the difficulties for anyone to comply with the change that’s happened and give a little more comfort that lenders won’t be held responsible for changes that became substantive after the fact."