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Reg Z Rescission Calendar Calculator
After seeing fellow BOLers excited about a 12 page calendar that calculated rescission periods, Andy Zavoina of BOL decided that Excel should be able to do this easier. With a little scripting help from fellow Netizens the final product is made available here. The 2008-2009 is available for auditing last year's loans, and the 2009-2010 may be used for auditing and setting your rescission dates coming up.
You will input the loan date and the rescission period is calculated according to the Reg. Z time tables. This does allow Sunday and holiday funding since that is not uncommon in many banks today. Based on user requests there is a new line that banks who are not funding loans on Sundays can follow without manually looking to the next business day.
This Excel file, it is ready for use by, compliance, audit, lenders, loan representatives, etc. But you have to allow the macro to run for this application to work. This may require that you lower the security setting in Excel's Tools/Macro/Security menu before loading the file.
Access other Banker Tools on BankersOnline.com:
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