Announcement 2025-008 Rescissions & Disbursements for Columbus Day Holiday 2025 (Agency)

Announcement 2025-008 Rescissions & Disbursements for Columbus Day Holiday 2025 (Agency)

Newrez LLC "Newrez" Approved Agency Co-Issue Clients: please note that Monday, October 13, 2025, is Columbus Day, a federal holiday. Newrez will be open for business.

Monday, October 13, 2025, is a federal holiday; therefore this date must be excluded as a business day when determining the earliest date that settlement may occur from the date the consumer(s) receive the initial Closing Disclosure. For example, if the consumer receives the initial CD on Wednesday, October 8, the earliest date that settlement could occur would be Saturday, October 11. If the consumer receives the initial CD on Thursday, October 9, the earliest date that settlement could occur would be Tuesday, October 14. Similarly, Monday, October 13, 2025, must also be excluded as a business day in counting the seven-business day waiting period from when the initial Loan Estimate was provided to consummation. As a reminder, if the initial Closing Disclosure is received on Monday, October 13, 2025, it cannot be considered received until the next business day.

The following rescission dates will apply for loans closed on:

Wire Desk

Since banks will not operate on Columbus Day, the Newrez Wire Desk will be unable to process wires on Monday, October 13, 2025.

The Wire Desk will resume normal functions and hours on Tuesday, October 14, 2025.

Bulk Desk

The Bulk Desk will be closed on Monday, October 13, 2025.

The Bulk Desk will resume normal functions and hours on Tuesday, October 14, 2025.