Bulletin 2024-013 Rescissions & Disbursements for Veterans Day Holiday 2024 (FHLB Chi)
Newrez LLC "Newrez" Approved FHLB Chicago Members: please note that Monday, November 11, 2024, is Veterans Day, a federal holiday. Newrez will be open for business.
Monday, November 11, 2024, 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, November 6, the earliest date that settlement could occur would be Saturday, November 9. If the consumer receives the initial CD on Thursday, November 7, the earliest date that settlement could occur would be Tuesday, November 12. Similarly, Monday, November 11, 2024, 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, November 11, 2024, it cannot be considered received until the next business day.
The following rescission dates will apply for loans closed on:
|
If Closing |
Then Rescission |
And Disbursements |
|
Wednesday, November 6 |
Saturday, November 9 |
Tuesday, November 12 |
|
Thursday, November 7 |
Tuesday, November 12 |
Wednesday, November 13 |
|
Friday, November 8 |
Wednesday, November 13 |
Thursday, November 14 |
|
Saturday, November 9 |
Thursday, November 14 |
Friday, November 15 |
Wire Desk
Since banks will not operate on Veterans Day, the Newrez Wire Desk will be unable to process wires on Monday, November 11, 2024.
The Wire Desk will resume normal functions and hours on Tuesday, November 12, 2024.
Bulk Desk
The Bulk Desk will be closed on Monday, November 11, 2024.
The Bulk Desk will resume normal functions and hours on Tuesday, November 12, 2024.