Posted by SDgirl_CA on 11/9/07 12:32am
Msg #220361

RTC date

Hello,

I am just double checking... signings today RTC date is 11/12/07???

That is what all of my RTC calendars state but was told today driectly from an escrow officer that Veteran's Day is observed on Monday, banks are closed and that it is a federal holiday. That it should be 11/13/07.

Any comments??

Thanks!!!

Reply by Lee/AR on 11/9/07 1:10am
Msg #220364

Agree. However, a certain SS sent out 3 e-mails today with different dates. I'd say it's best to ask as they seem to be a bit confused.

Reply by Sylvia_FL on 11/9/07 4:58am
Msg #220367

** November 11, 2007, (the legal public holiday for Veterans Day) falls on a Sunday. For most Federal employees, Monday, November 12, will be treated as a holiday for pay and leave purposes (See 5 U.S.C. 6103(b).)**

Monday is treated as the holiday. RTC date should be 13th

Reply by Sylvia_FL on 11/9/07 4:59am
Msg #220368

NotRot's RTC calendar is correct - 13th is the RTC date n/m

Reply by snoopdogMs on 11/9/07 6:42am
Msg #220371

If one closes today on the 9th and you count 3 business days after today, then you have Sat., Mon. and Tues which is the 13th. That tells me that Mon. is considered a business day. 3 business days would include Monday according to the calender. No holiday status. Am I missing something here? Sylvia are you not counting Mon.?

Reply by snoopdogMs on 11/9/07 6:47am
Msg #220372

Sylvia, The question should have been are you treating Mon. as a federal holiday? If so, then there is no way that Tues. could be the RTC. based on todays date.

Reply by snoopdogMs on 11/9/07 6:53am
Msg #220373

Just so I am not misunderstood here, yes the correct RTC is Tues. the 13th. But the confusion is that Mon. cannot both be a holiday and business day. If it is counted, then it is a business day.

Reply by MikeC/NY on 11/9/07 7:05am
Msg #220375

The federal holiday is the 11th

Veteran's Day is one of the 4 federal holidays that always fall on a specific date. The day these are observed for pay or leave purposes doesn't matter as far as Reg Z is concerned, so Monday counts as a business day even though the banks and post offices are closed.

Trust the rescission calendars, especially if they're all saying the same thing.

Reply by Vince/KS on 11/9/07 7:05am
Msg #220376

See message thread beginning with #158762 n/m

Reply by Teresa/FL on 11/9/07 8:51am
Msg #220385

RTC date for signings done today is 11/13

but the lender can always extend the date and give more time than required. A local credit union is not counting Monday and has extended the RTC for today's signings to 11/14, which is there perogative.

Bottom line, check with the lender.

Reply by LJ on 11/9/07 9:26am
Msg #220390

Re: RTC date for signings done today is 11/13

Did 2 closings on TH. Both CW (different branches). and different TC. One had RTC date as Mon 11/12, the other one Tu 11/13. Questioned both and both said use the date on the doc. Soooooo confusing. I did what I was told from both companies. I guess my opinion is if the 12th doesn't fund till the 13th, they got an extra day, better than a day short.

Reply by MichiganAl on 11/9/07 10:25am
Msg #220407

Exactly. If RTC already has the date, don't change it.

If it says the 14th instead of the 13th, you leave it. The lender can choose to extend it so if they chose to count Monday as a holiday and add an extra day, then so be it.

Reply by Cynthia/CA on 11/9/07 10:26am
Msg #220408

Re: RTC date for signings done today is 11/13

According to the National Notary Assoc because Veterans Day (November 11) falls on a Sunday, Notary Signing Agents should know that the holiday this year has no bearing on the three-day rescission period for a loan closing.