We have a new money refinance transaction where the husband was only on the loan, then at the closing table the borrower decided he wanted his spouse on the loan. Since they co-owned the property together they both would already be given the opportunity to rescind if they wanted, so would it have any affect on the rescission period to add the spouse?

then at the closing table the borrower decided he wanted his spouse on the loan

I assume this was a misstatement? At the very least I would require an updated application with documented joint intent and re-underwrite the loan according to your established underwriting policies and procedures. That alone might delay closing, but if she was provided the preliminary CD, adding her as a borrower should all that would be required on the final CD. .Of course the other legal documentation would also have to be adjusted.

the borrower let us know prior to his signing appointment. We did push the file back to the underwriter for review (it's been cleared to close) and we did revised docs/1003/joint intent, etc.

The rescission period starts when each consumer with a right to rescind has received the closing disclosure and two copies of the notice of right to rescind (one if provided electronically under an E-SIGN agreement), and the loan is consummated (closed). Either borrower can rescind before midnight at the end of the third business day (specific definition) after the start of the rescission period. Disbursement of proceeds cannot take place until the rescission period has ended and the creditor is satisfied that none of the consumers with a right to rescind has exercised that right.