Bulletin 2024-014 Rescissions & Disbursements for Thanksgiving Holiday 2024 (FHLB Chi)
Newrez LLC "Newrez" Approved FHLB Chicago Members: please note that Thursday, November 28, 2024, is Thanksgiving, a federal holiday. Newrez will be closed for business.
Thursday, November 28, 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 Saturday, November 23, the earliest date that settlement could occur would be Wednesday, November 27. If the consumer receives the initial CD on Monday, November 25, the earliest date that settlement could occur would be Friday, November 29. Similarly, Thursday, November 28, 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 Thursday, November 28, 2024, it cannot be considered received until the next business day, November 29, 2024.
Accordingly, the following rescission dates will apply for loans closed on:
|
If Closing |
Then Rescission |
And Disbursements |
|
Saturday, November 23 |
Wednesday, November 27 |
Friday, November 29 |
|
Monday, November 25 |
Friday, November 29 |
Monday, December 2 |
|
Tuesday, November 26 |
Saturday, November 30 |
Monday, December 2 |
|
Wednesday, November 27 |
Monday, December 2 |
Tuesday, December 3 |
Wire Desk
The Wire Desk be closed on Thursday, November 28, 2024.
The Wire Desk will resume normal functions and hours on Friday, November 29, 2024.
Bulk Desk
The Bulk Desk will be closed on Thursday, November 28, 2024.
The Bulk Desk will close at 12pm Eastern on Friday, November 29, 2024.