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#2233387 - 03/20/20 03:49 PM Waiver of 3 day wait period due to coronavirus?
Ms. X Offline
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Joined: Jan 2018
Posts: 24
Title agent will be closing at the end of today, due to the governor’s mandate.They are requesting to do a settlement today instead of scheduled date - Monday. Closing Disclosure was signed by the borrower on Wednesday. If the customer wants to settle today and waives the 3 day waiting period, we are trying to determine if this unique situation will or will not qualify as "personal financial emergency." Thoughts please. Thanks!

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#2233393 - 03/20/20 04:05 PM Re: Waiver of 3 day wait period due to coronavirus? Ms. X
burke116 Offline
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Joined: Jun 2014
Posts: 536
RVA
That's going to be a business decision that your FI will have to make. But personally, I would feel ok with defending our position of allowing the customer to waive their 3 day waiting period given your governor's mandate.

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#2233396 - 03/20/20 04:13 PM Re: Waiver of 3 day wait period due to coronavirus? Ms. X
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Ditto that.
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#2233404 - 03/20/20 04:45 PM Re: Waiver of 3 day wait period due to coronavirus? Ms. X
Ms. X Offline
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Joined: Jan 2018
Posts: 24
Thank you!

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