Bulletin 2023-075 Rescissions & Disbursements for Veterans Day Holiday 2023
Newrez LLC "Newrez" Approved Correspondent Clients: please note that Saturday, November 11, 2023, is Veterans Day. The Federal Holiday will be observed on Friday, November 10, 2023. Newrez will be open for business.
Friday, November 10, 2023, is not a federal holiday; therefore this date must be included as a business day when determining the earliest date that settlement may occur from the date the consumer(s) receive the initial Closing Disclosure. Saturday, November 11, 2023 is a federal holiday and therefore would be excluded as a business day for this timing test. For example, if the consumer receives the initial CD on Thursday, November 9, the earliest date that settlement could occur would be Tuesday, November 14. Similarly, Friday, November 10, 2023 must also be included in counting the seven business day waiting period from when the initial Loan Estimate was provided to consummation. Saturday, November 11, 2023 would be excluded as a business day for the seven day test.
Accordingly, the following rescission dates will apply for loans closed on:
|
If Closing |
Then Rescission |
And Disbursements |
|
Monday, November 6 |
Thursday, November 9 |
Friday, November 10 |
|
Tuesday, November 7 |
Friday, November 10 |
Monday, November 13 |
|
Wednesday, November 8 |
Monday, November 13 |
Tuesday, November 14 |
|
Thursday, November 9 |
Tuesday, November 14 |
Wednesday, November 15 |
Wire Desk
The Wire Desk will be able to process wires on Friday, November 10, 2023.
Bulk Desk
The Bulk Desk will be open on Friday, November 10, 2023.