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#2042563 - 10/05/15 06:35 PM
Re: New Calculator for Closing Disclosure
bankerchris
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Diamond Poster
Joined: May 2013
Posts: 1,804
The Mitten State
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So probably a dumb question--B27 just says #NAME?
What did I forget to do?
Thanks.
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Nonsense wakes up the brain cells.
--Dr. Seuss
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#2042565 - 10/05/15 06:37 PM
Re: New Calculator for Closing Disclosure
bankerchris
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Gold Star
Joined: Aug 2010
Posts: 378
W. TX
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Nice tool Carolina!
I have a suggestion for whoever wants to add a reminder about changing the holidays during 2018.
You need to unlock the worksheets and add the formula below to the Earliest Closing Date sheet on Cell C3. There is nothing in that cell so it should work out. I would color the font red.
=IF(B3>F32,"Holidays on Column F must be updated","")
To do the same on the Desired Closing Date sheet add this formula to Cell C3:
=IF(B3>E32,"Holidays on Column E must be updated","")
Last edited by Compl101TX; 10/05/15 06:38 PM. Reason: spelling
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My opinion only. AVP-Compliance
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#2042595 - 10/05/15 07:30 PM
Re: New Calculator for Closing Disclosure
JWills, CRCM
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100 Club
Joined: Jan 2013
Posts: 169
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I noticed the same thing JWills and am looking into the formulas.
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CRCM
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#2042607 - 10/05/15 07:53 PM
Re: New Calculator for Closing Disclosure
bankerchris
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100 Club
Joined: Jan 2013
Posts: 169
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The issue is if you are using a version of Excel 2007 or earlier. The workday.intl function is not recognized unless you have 2010 or newer versions of Excel.
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CRCM
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#2042611 - 10/05/15 07:56 PM
Re: New Calculator for Closing Disclosure
bankerchris
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Diamond Poster
Joined: May 2013
Posts: 1,804
The Mitten State
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Thank you. I will contact IT to see if I can get a more up to date version.
_________________________
Nonsense wakes up the brain cells.
--Dr. Seuss
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#2042681 - 10/05/15 10:11 PM
Re: New Calculator for Closing Disclosure
bankerchris
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Gold Star
Joined: Aug 2010
Posts: 378
W. TX
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I don't have an older version to test this but on the Developer toolbar you could try going to Add-Ins (if located there on earlier versions) and add the Analysis Toolpak and the Analysis Toolpak-VBA.
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My opinion only. AVP-Compliance
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#2042840 - 10/06/15 05:08 PM
Re: New Calculator for Closing Disclosure
bankerchris
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New Poster
Joined: Oct 2015
Posts: 1
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I saw a excel spreadsheet that was posted today that Carolina Blue created a TRID Calculator. I assume this is to take the place of the MDIA Calculator. A issue that I always had with the MDIA Calculator that I also notice with this one is that we are not open on Saturday. Is there a way to get it to calculate based on that exclusion of Saturday? There was a field on the MDIA Calculator that said to put a “2†if you were closed on Saturday, but it never worked. So, I don’t know if it can be done or not. But it would really be nice if it did. Can you have someone check on that for me, please?
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#2042892 - 10/06/15 07:07 PM
Re: New Calculator for Closing Disclosure
Carolina Blue
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Gold Star
Joined: Aug 2010
Posts: 378
W. TX
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The calculator does not count Saturdays for the 3 business days to (re)issue a disclosure. It does count Saturdays for the waiting periods (mail, CD review, and ROR).
If you want to change it, then you will need to unprotect the sheet and find the applicable formula(s). Most of the formulas are directly in the cell, but a few are indirectly in a hidden column to the right. Highlight Columns C through G and right click in that area (or go to the View tab) and click Unhide. You can see the formulas in the D and E columns.
If the formula includes "WORDKDAY" then it is not counting Saturday. If it includes "WORKDAY.INTL" then it is counting Saturday. Adjust the formulas (add .INTL or remove it) as needed to count how you want. Hope that helps.
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My opinion only. AVP-Compliance
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#2043687 - 10/09/15 08:16 PM
Re: New Calculator for Closing Disclosure
bankerchris
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100 Club
Joined: Feb 2013
Posts: 102
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Thank you Blue, from a Wake alum.
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#2043775 - 10/12/15 02:41 PM
Re: New Calculator for Closing Disclosure
Carolina Blue
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Platinum Poster
Joined: Mar 2006
Posts: 771
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Unfortunately I am having a problem getting my formula to work properly. I have followed the instructions that Carolina Blue sent but I am still having problems. I am on version 2010 for Excel. Any suggestions for the WORKDAY.INTL? I am needing the calculator to count Saturdays.
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#2043781 - 10/12/15 03:22 PM
Re: New Calculator for Closing Disclosure
CompliantOkie
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Platinum Poster
Joined: Mar 2006
Posts: 771
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I have followed the simple steps in order for the spreadsheet to calculate Saturdays into our workday but the response back is #NUM!. I am not sure what I am doing wrong. I have even followed the corrections that Excel suggested and I got the same response. I am on 2010 version of Excel. Do you have any suggestions?
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#2043784 - 10/12/15 03:51 PM
Re: New Calculator for Closing Disclosure
CompliantOkie
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Platinum Poster
Joined: Mar 2006
Posts: 771
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I have followed the simple steps in order for the spreadsheet to calculate Saturdays into our workday but the response back is #NUM!. I am not sure what I am doing wrong. I have even followed the corrections that Excel suggested and I got the same response. I am on 2010 version of Excel. Do you have any suggestions?
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#2043801 - 10/12/15 09:12 PM
Re: New Calculator for Closing Disclosure
Newbie06
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100 Club
Joined: Feb 2010
Posts: 122
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I had to change the calculator to count Saturdays too. On the Desired Closing Tab, the cell for LE must be issued by: my formula looks like this =IF(B3="","",WORKDAY.INTL(B3,3,11,E2:E35)).
You have to highlight "WORKDAY" in the formula, go to the formula tab, click on Date & Time, click on WORKDAY.INTL & change the function arguments.
Hope that helps!
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#2043824 - 10/13/15 01:13 PM
Re: New Calculator for Closing Disclosure
CompliantOkie
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Platinum Poster
Joined: Mar 2006
Posts: 771
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Here4Life, thank you for your response. I entered in the .INTL into my formula but the one thing I did notice that was different was your formula had an 11 after the 3. I am not sure what the 11 is referencing but my formula now gives me a date instead of #NUM!.
My only question, at least for the moment, is why is the calculator giving me a date of 10/13/2015 when I put a date of 10/08/2015 into the cell that is reflecting when the LE was sent. The date should show 10/12/2015 which would incorporate the Saturday.
Last edited by Runner4fun; 10/13/15 01:35 PM.
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#2043849 - 10/13/15 02:30 PM
Re: New Calculator for Closing Disclosure
Newbie06
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100 Club
Joined: Feb 2010
Posts: 122
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10/12/15 was Columbus Day...Federal Holiday
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#2043860 - 10/13/15 02:46 PM
Re: New Calculator for Closing Disclosure
Here4Life
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Platinum Poster
Joined: Mar 2006
Posts: 771
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Oh my bad...I'm looking at calendars that don't show the Holidays. Thanks...
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#2095078 - 08/24/16 07:33 PM
Re: New Calculator for Closing Disclosure
bankerchris
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100 Club
Joined: Dec 2014
Posts: 100
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A dated thread, but as I was looking at the holidays within the TRID calendar, I noticed that for Christmas 2016, it is listed as 12/25/2016, but isn't the true Federal Reserve holiday the 26th because the 25 is a Sunday, so wouldn't we want the Holiday schedule to read the 26th? Just looking for confirmation before I make a change. Similarly, for the 1/1/2017, would we want it to read 1/2/2017? Thanks!
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#2095081 - 08/24/16 07:40 PM
Re: New Calculator for Closing Disclosure
bankerchris
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10K Club
Joined: Oct 2000
Posts: 40,086
Cape Cod
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If you're counting business days using the precise Regulation Z definition (all days except Sunday and the ten designated federal holidays), whether the Fed (or the post office) is open is irrelevant. Monday holidays always fall on Mondays and Thanksgiving always is a Thursday, but the holidays that fall on fixed dates (Jan 1, July 4, December 25) don't move from those dates when counting those business days. Christmas 2016 is a Sunday, and the next day is a business day for rescission purposes, as is January 2, 2017.
You would not count days you aren't open for substantially all business purposes when counting "general definition" business days.
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#2095121 - 08/24/16 09:10 PM
Re: New Calculator for Closing Disclosure
bankerchris
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100 Club
Joined: May 2016
Posts: 241
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For those of you needing a citation for John's comment above:
TILA, Regulation Z, 12 CFR 1026, Supplement I, Official Interpretations 1026.2(a)(6)-2, Business Day Rule for rescission, disclosures for certain mortgage transactions, and private education loans. A more precise rule for what is a business day (all calendar days except Sundays and the Federal legal holidays specified in 5 U.S.C. 6103(a)) applies when the right of rescission, the receipt of disclosures for certain dwelling-secured mortgage transactions under §§1026.19(a)(1)(ii), 1026.19(a)(2), 1026.31(c), or the receipt of disclosures for private education loans under §1026.46(d)(4) is involved. Four Federal legal holidays are identified in 5 U.S.C. 6103(a) by a specific date: New Year's Day, January 1; Independence Day, July 4; Veterans Day, November 11; and Christmas Day, December 25. When one of these holidays (July 4, for example) falls on a Saturday, Federal offices and other entities might observe the holiday on the preceding Friday (July 3). In cases where the more precise rule applies, the observed holiday (in the example, July 3) is a business day.
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#2110445 - 12/12/16 05:32 PM
Re: New Calculator for Closing Disclosure
CompliantOkie
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10K Club
Joined: Jul 2001
Posts: 84,334
Galveston, TX
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FYI I did a little test and the calculator was not recognizing 12/26/2016 and 1/2/2017 as Federal holidays. I updated my copy for Carolina Blue's calculator to account for the Monday holidays. Works like a charm! That is because they are not holidays under the precise business day rules.
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