Answer:
If the loan wasn't signed until 1/2/12, then the note was not consummated until that date. The note date should match the date of consummation. This isn't necessarily a violation but leads to confusion.
If the loan was rescindable, then the 3 days for Right Of Rescission don't start counting until the loan is closed (1/2/12 in your example), not the note date (1/1/12 in your example).
First published on BankersOnline.com 9/10/12