Posted by Ernest3_FL on 12/7/05 7:34pm
Msg #81047

December EOM

Can anyone give me the "heads up" for EOM this month? I tried to plan out November, asked around for EOM, was told it would be Friday after Thanksgiving and that day was dead and we were bombarded on Wednesday. Since this is another holiday at the end of the month, comments from anyone who has been through a few Decembers would be greatly appreciated. TIA.

Reply by PAW_Fl on 12/7/05 9:07pm
Msg #81061

Looking at it from a practical standpoint, Monday, 12/26 will be EOM to allow for funding on Friday. However, the actual LSD (Last Signing Date) will be Tuesday, 12/27, having a 12/30 expiration of the RTC and allowing for funding on 12/31. But, banks and mortgage companies won't be open on Saturday, 12/31.

This may all me moot anyway, since not too much gets done between 12/25 and 1/1.

Reply by Nd_WA on 12/7/05 9:17pm
Msg #81067

Just got a heads up email from a SS saying that lenders anticipate to have loans sign between Dec. 22-24 to end the year. Nothing was mentioned for 25th-27th.

Reply by Ted_MI on 12/8/05 9:19am
Msg #81123

Re: Can we really expect them .....

to get their act together so that signings are scheduled for the 22nd to 24th (of December), when they don't seem capable of getting their act together any other month of the year except at the very last minute?

Reply by ILNot on 12/7/05 10:39pm
Msg #81079

Isn't the 26th a bank holiday? not sure if that matters n/m

Reply by SLP_VA on 12/8/05 5:16am
Msg #81105

Re: Isn't the 26th a bank holiday? not sure if that matters n/m

No, the 26th, which is a Monday is not a bank holiday.

Reply by Anonymous on 12/8/05 8:28am
Msg #81118

I was extremely busy the last week of last Dec.

Reply by PAW_Fl on 12/8/05 9:02am
Msg #81121

Re: Isn't the 26th a bank holiday? not sure if that matters

Sorry to disagree, but many banks (as well as all government offices, including the post office) will be closed on Monday, December 26th as it is the day Christmas will be 'observed'. From the OPM: "December 25, 2005, ( the legal public holiday for Christmas Day) falls on a Sunday. For most Federal employees, Monday, December 26, will be treated as a holiday for pay and leave purposes. (See Executive Order 11582 of February 11, 1971.)" Banks, as a rule, tend to follow the government in observing holidays that fall on Saturdays and Sundays.

But, you're right in that the 26th is not a holiday for rescission purposes.

Reply by SLP_VA on 12/8/05 1:55pm
Msg #81196

Re: Isn't the 26th a bank holiday? not sure if that matters

You're right as usual Paw, I was thinking as if it was the day after thanksgiving..I do know if Xmas fell on a weekday, i.e. Friday, the banks would be open on Monday. Sorry for that error...

Reply by clarise_oh on 12/8/05 11:53am
Msg #81157

The 26th will be a bank holiday as well as Jan 2nd. N/M