From my previous post on the ROR debate. The Loan closed on the 31st. The final day of rescission should have been Friday, Nov. 3rd at midnight( Counting Nov. 1st, 2nd & 3rd.). Thus, the original funding date would have been Nov 4th. The LO used Nov. 4th as the final day of rescission. Would this extend the funding date to Tuesday Nov. 7th or Wes. the 8th? Or would the 6thstill be the funding date?

The 6th. Saturdays are business days for the RofR.

Your funding date will be the 6th. The first business day after the rescission period ended.

Thanks guys.

Just to clarify my answer. I stated the first business day after the rescission ended due to them being given until midnight of the 4th to rescind, not because Sat. is not a business day. Randy is 100% correct that Sat. is always, unless a designated holiday falls on Sat., a business day for the purposes of rescission.

I understand that Sat. is a business day for the purposes of rescission, but given the error on the form, I just wanted to hear the opinions of some other bankers. You both confirmed what I had initially thought was the right course of action.