Clark Hill Philadelphia Attorney Joann Needleman Quoted in Inside Mortgage Finance
In a situation that many different people in many different industries are finding familiar, the Consumer Financial Protection Bureau (CFPB) has closed all its offices until the first week of April in response to the coronavirus. The closures of the CFPB offices, headquartered in Washington, DC, have raised questions about the CFPB’s ongoing rulemaking, supervision, and enforcement activities. The bureau has a busy regulatory agenda for 2020 with major mortgage-related items listed on it, including the qualified-mortgage rule. Joann Needleman, Member and leader of Clark Hill’s Consumer Financial Services Regulatory & Compliance group, was quoted recently on this topic in Inside Mortgage Finance.
“I think that [the QM rule] is going to be delayed … especially with the economy the way it is,” said Needleman. “I think the QM rule is definitely in the balance right now until there is some sense of stability of what is going on with the economy and in the market.”
Read the full story and Needleman’s full commentary here.
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