We are not yet ready to implement all the new mortgage lending requirements, however we are continuing to take RRE loan applications (although we do very little RRE loans). We just received a HELOC application today and don't anticipate that it will close until after January 10. The new rules take effect for applications received on or after January 10, is this correct? So even if we take an application now, but don't close until after January 10 we don't need to worry about being in compliance with all the new rules, correct? Just wanted to confirm this.