I am doing a review of recent loans with the new Reg Z changes (apps after 7/31/09) and wanted to verify that the 7 day waiting period after early disclosures, on a refinance, means that the loan can't be funded until 10 business days due to right of recission, correct?

yeah thats sounds right since you can't close till 7 days are up and you can't fund until midnight of the third business day.

10 business days would be the earliest starting when you issue the P-TIL. This also assumes you close ON the 7th business day and fund ON the 4th business following closing.

Thanks!!