Rescissions & Disbursements for Veterans Day Holiday 2022
Newrez LLC "Newrez" Approved Correspondent Clients: please note that Friday, November 11, 2022, is Veterans Day, a federal holiday. Newrez will be closed for business.
Friday, November 11, 2022 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 Monday, November 7, the earliest date that settlement could occur would be Thursday, November 10. If the consumer receives the initial CD on Tuesday, November 8, the earliest date that settlement could occur would be Saturday, November 12. Similarly, Friday, November 11, 2022, 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 Friday, November 11, 2022, it cannot be considered received until the next business day, November 14, 2022.
Accordingly, the following rescission dates will apply for loans closed on:
|
If Closing |
Then Rescission |
And Disbursements |
|
Monday, November 7 |
Thursday, November 10 |
Monday, November 14 |
|
Tuesday, November 8 |
Saturday, November 12 |
Monday, November 14 |
|
Wednesday, November 9 |
Monday, November 14 |
Tuesday, November 15 |
|
Thursday, November 10 |
Tuesday, November 15 |
Wednesday, November 16 |
Wire Desk
Since banks will not operate on Veterans Day, the Wire Desk will be unable to process wires on Friday, November 11, 2022.
The Wire Desk will resume normal functions and hours on Monday, November 14, 2022.
Bulk Desk
The Bulk Desk will be closed on Friday, November 11, 2022.
The Bulk Desk will resume normal functions and hours on Monday, November 14, 2022.