Posted by hhadi-MD on 8/13/05 12:22pm
Msg #58849

Can we close loan on sunday?

Reply by A Nonnee Mouse on 8/13/05 12:38pm
Msg #58854

Re: Can we close loan on sunday? Why Not?

It is for the convenience of the borrower if they want to sign on Sunday. I have had no problems so far.

Reply by Brian/CA on 8/13/05 12:38pm
Msg #58855

I think what you are asking is can we do a loan signing on Sunday. We sure can. I have a friend who did one on Christimas, holidays, too!

Reply by Iris_WA on 8/13/05 12:42pm
Msg #58857

Further to Brian and A Nonnee Mouse ...

Brian is right, you are doing a signing, not a closing, which can be done anytime.

The actual closing (generally, after the period of rescission officially ends) can NOT take place on a Sunday or holiday, and typically does NOT happen on a Saturday even though it's considered a business day. (At least, since courts are closed and deeds/mortgages can't record on a Saturday, I've never known them to happen on a Saturday.)

Reply by PAW_Fl on 8/13/05 2:07pm
Msg #58874

Re: Further to Brian and A Nonnee Mouse ...

There's nothing on the books, at least here in FL, that says a loan cannot be closed on Sunday. As a matter of fact, I have closed (yes, closed - as in title closing) more than one on Sunday. As long as the buyer/seller/borrower understands that funding won't take place until the next business day (dry closing), or the loan is already funded and funds are dispersed at the table (wet closing), there's nothing to stop the closing.

Reply by Iris_WA on 8/13/05 2:21pm
Msg #58876

I stand corrected ....

to me, "closing" means recording.

Reply by PAW_Fl on 8/13/05 2:39pm
Msg #58887

Re: I stand corrected ....

In that case, I would certainly agree. You can't get something recorded when the courthouse is closed. (Saturdays, Sundays, Federal, State and possibly local holidays.)