Rescissions & Disbursements for Thanksgiving Holiday 2022
Newrez LLC "Newrez" Approved Correspondent Clients: please note that Thursday, November 24, 2022, is Thanksgiving, a federal holiday. Newrez will be closed for business.
Thursday, November 24, 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 Saturday, November 19, the earliest date that settlement could occur would be Wednesday, November 23. If the consumer receives the initial CD on Monday, November 21, the earliest date that settlement could occur would be Friday, November 25. Similarly, Thursday, November 24, 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 Thursday, November 24, 2022, it cannot be considered received until the next business day, November 25, 2022.
Accordingly, the following rescission dates will apply for loans closed on:
|
If Closing |
Then Rescission |
And Disbursements |
|
Saturday, November 19 |
Wednesday, November 23 |
Friday, November 25 |
|
Monday, November 21 |
Friday, November 25 |
Monday, November 28 |
|
Tuesday, November 22 |
Saturday, November 26 |
Monday, November 28 |
|
Wednesday, November 23 |
Monday, November 28 |
Tuesday, November 29 |
Wire Desk
Since banks will not operate on Thanksgiving, the Wire Desk will be unable to process wires on Thursday, November 24, 2022.
The Wire Desk will resume normal functions and hours on Friday, November 25, 2022.
Bulk Desk
The Bulk Desk will be closed on Thursday, November 24, 2022.
The Bulk Desk will resume normal functions and hours on Friday, November 25, 2022.