Posted by Anonymous on 12/21/05 6:04pm
Msg #83951

SS says its a holyday 12/26/2005 for rtc purposes.

Should I just date like they are telling me? After all if lender says its not right, I can blame it at
the SS?

Reply by Anne/IL on 12/21/05 6:11pm
Msg #83953

One quick phone call the to lender or loan officer and you will know for sure. Double checking doesn't hurt anyone!

Reply by Rick_NY on 12/21/05 6:25pm
Msg #83955

The U.S. Postal Service is closed on 12/26/05. I believe you can not count any day the post office is closed in the RTC days.

Reply by John_NCal on 12/21/05 6:47pm
Msg #83962

Re: Rule of thumb, if post doesn't deliver mail then,

you don't count that day as a RTC. Christmas falls on Sunday, then observance day is Monday, the 26th.

Reply by PAW_Fl on 12/21/05 9:15pm
Msg #83977

Re: Rule of thumb, if post doesn't deliver mail then,

John, et al... according to the Code, the additional commentary and the interpretation by the Compliance Headquarters, it makes no difference when a holiday is "observed". Only the federal holidays as cited by the Code and Sundays are not counted in the 3-day rescission period. There are four federal holidays which fall on specific days: New Year Day (1/1), Independence Day (7/4), Veterans Day (11/11) and Christmas Day (12/25). Even though these days may fall on a weekend day, and the government 'observes' the holiday on the Friday before or Monday after the actual holiday, the 'observed' day is still considered a business day as defined in the Code.

Reply by Mike_AZ on 12/21/05 9:47pm
Msg #83982

Don't say "Rule of thumb"

The origin of "Rule of thumb"

Rule of thumb used to refer to the thickness of the wooden branch/stick with which a man could beat his wife legally.

Don't use that phrase.

My wife gave me an earful the first time I said it to her.

Reply by PAW_Fl on 12/21/05 10:00pm
Msg #83985

Invite her to read ...

"The 'Rule of Thumb for Wife-Beating' Hoax", by Robert Sheaffer, which can be found at http://www.debunker.com/texts/ruleofthumb.html. Also, the dissertation by Michael Quinion of World Wide Words at http://www.worldwidewords.org/qa/qa-rul1.htm.

Reply by CarolynCO on 12/21/05 10:49pm
Msg #83994

Re: Very interesting. Thanks PAW. nm

Reply by Art_MD on 12/21/05 7:37pm
Msg #83965

Re: read message #80816 N/M

Reply by Roger_OH on 12/21/05 7:42pm
Msg #83966

Update from PAW - msg # 83775

Lender can lengthen the RTC if they wish; just can't shorten it.

Reply by AmandaCA on 12/22/05 9:58am
Msg #84085

Re: Update from PAW - msg # 83775

I know this has been discussed over and over again, but here is the NNA's official comment on the matter:

Days After Holidays Are Business Days

With two upcoming federal holidays falling on a Sunday this year, Notary Signing Agents are reminded that the days after those holidays are considered business days for the purpose of calculating the three-day rescission period.

Christmas Day and New Year's Day both fall on Sundays. Though some businesses may give employees the following day off, December 26 and January 2 are considered business days for loan closings and count toward the rescission period.

Federal law gives the borrower a three-day cooling-off period, known as a "right-of-rescission" period, before a refinance loan closes. The borrower can cancel the loan at any time up until midnight of the third day in the rescission period.

Sundays and 10 federal holidays do not count as one of the three business days a borrower has to cancel a loan before it goes through.

I though this had already been settled, but just thought I would add this as it was in my inbox this morning.

Have a great day!

Reply by AmandaCA on 12/22/05 9:58am
Msg #84086

I should have written "Update from the NNA"/nm