I started a new thread because I hadn't gotten any hits on the question I posted on yesterday's thread on this subject. We've got a couple loans closing end of this week that will be affected, any help is appreciated!
Laser Pro is not counting Monday as a business day for purposes of rescission. Wanting to research it before I called them, I noticed the April 9, 2002 Federal Register, pg 16981, clearly supports what BOLers are saying in regard to counting Monday as a holiday for rescission. However, the last line states "...See Section 226.23(b)(1)(v). A creditor may extend the rescission period at its option." What does this mean? I followed up on the citation but see nothing in the Reg or the Commentary that speaks to this statement.
When I called Harland's Compliance Support I'm told this is determined by their Legal Dept, although they agreed to research it. Has anyone else run into this? Do we handtype rescission notices for the loans we have closing Thurs and Fri?