Mortgage loan (refinance of primary residence) with husband & wife as borrowers and a 3rd person on title only.
Loan docs are dated 9/19 but there was a delay in closing.
Husband & Wife signed on 9/24. (Rescission notices show "midnight of" date of 9/27.)
3rd person signed his docs on 9/23. (Rescission shows "midnight of" as 9/26).

Is the “Date of the Transaction” 9/23 or 9/24?

Is the rescission notice for the title-only person okay? I’ve always understood that there can only be ONE rescission period - and that the title only person's rescission date should match the others - 9/27.

If we've opened ourselves up to a 3-year right to rescind, can we fix this by having all 3 individuals receive a new Right to Rescind dated as of a current date and a new 3-day waiting period? Or would we only need to give a new Right to Rescind to the title-only person?

This is the 3rd person's principal dwelling also - they live with the husband and wife?

Yes, evidently, a parent. He was out of town so they sent docs to him which caused the delay and that's why he signed on a different day from husband & wife.

It might come down to State law.

The consumer may exercise the right to rescind until midnight of the third business day following consummation, delivery of the notice required by paragraph (b) of this section, or delivery of all material disclosures, whichever occurs last.

When is consummation on a split transaction such as this? Can it be a different date for different borrowers?

To play it conservatively. If you haven't funded yet, I might give everyone a new right of rescission. That way there could be no arguments from any parties. If you have funded, the horse is out of the barn..

Thank you.

Bringing this topic up again. Notice is dated 12/09 and gave 12/12 at the date to rescind by. Borrowers didn't sign the Notice until 12/11. Will having borrowers sign a new Notice of Rescission giving them 3 business-days to rescind get us out of the 3 year right to rescind mess?

Have you funded the loan - and if so when?

When was the RofR delivered? There is no signature requirement on a RofR. Why was it not signed until later?

I question Randy's answer from November suggesting regiving the ROR. I've always thought it was a one as nd done doc that couldn't be regiven. Any error meant three years. Did I miss a change?.

This one? To play it conservatively. If you haven't funded yet, I might give everyone a new right of rescission. That way there could be no arguments from any parties. If you have funded, the horse is out of the barn..

Thanks. The horse is out of the barn.

Jump on any opportunity to refinance this loan out of existence at the earliest possible opportunity.