This article first appeared in the June 18th newsletter Lending Life. Sign up here to receive each weekday.

On Thursday, President Joe Biden signed a bill into law, declaring June 19th, or Juneteenth, a federal holiday. Biden’s order commemorates the date the last enslaved African-Americans were informed that they were free. Wonderful news, right? Wrong.

Reached Friday, many mortgage industry professionals were doing damage control — delaying closings, pushing back notices and modifying loans. Others had already left for the beach.

“It’s a complete nightmare,” said one lender. “I’m almost afraid to talk about it. The feds are putting details ⇒

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