Bulletin 2023-079 Rescissions & Disbursements for Thanksgiving Holiday 2023
Newrez LLC "Newrez" Approved Correspondent Clients: please note that Thursday, November 23, 2023, is Thanksgiving, a federal holiday. Newrez will be closed for business.
Thursday, November 23, 2023 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 18, the earliest date that settlement could occur would be Wednesday, November 22. If the consumer receives the initial CD on Monday, November 20, the earliest date that settlement could occur would be Friday, November 24. Similarly, Thursday, November 23, 2023, 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 23, 2023, it cannot be considered received until the next business day, November 24, 2023.
Accordingly, the following rescission dates will apply for loans closed on:
|
If Closing |
Then Rescission |
And Disbursements |
|
Saturday, November 18 |
Wednesday, November 22 |
Friday, November 24 |
|
Monday, November 20 |
Friday, November 24 |
Monday, November 27 |
|
Tuesday, November 21 |
Saturday, November 25 |
Monday, November 27 |
|
Wednesday, November 22 |
Monday, November 27 |
Tuesday, November 28 |
Wire Desk
The Wire Desk be closed on Thursday, November 23, 2023.
The Wire Desk will resume normal functions and hours on Friday, November 24, 2023.
Bulk Desk
The Bulk Desk will be closed on Thursday, November 23, 2023.
The Bulk Desk will close at 12pm Eastern on Friday, November 24, 2023.