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#179400 - 04/13/04 09:38 PM Right of Rescission and Delivery of Note
Anonymous
Unregistered

We are a closing agent/title company. The referring lender/broker wants us to deliver the executed promissory note to them before the borrower's 3-day right of rescission has expired (not fund - just deliver the original note). Is this a problem? What if the lender/broker sells the note or assigns the note before the expiration of the 3-day period? Any thoughts?

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Lending Compliance
#179401 - 04/14/04 01:35 AM Re: Right of Rescission and Delivery of Note
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
I really see nothing wrong with this as long as funds are not disbursed. They may have the loan sold and just wanting to get their paperwork ready to send.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#179402 - 04/14/04 02:05 PM Re: Right of Rescission and Delivery of Note
Anonymous
Unregistered

Thank you for taking the time to reply.

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