What makes this day even more special than most???
Well its a Friday so it already has a HUGE positive factor for me, being the work week is mostly over and then we add the Colorado sunny blue skies to the mix and that's an extra bonus but for this we also get the fact that this mid month day is actually the last day of the month due to the shortened week and the fact that the 30th falls on a Sunday.
Crazy that the 1 day holiday throws that wrinkle into the equation but topped with this being a month of only 30 days and the 30th is a Sunday you lose another 2 days remove 3 business days from the rescission equation and that is like losing the majority of an entire week for closing and disbursement.
Is it me or does anyone else think that there could be improvement in refinance transactions to not delay fundings as much?
Maybe counting the day of closing as part of the rescission period?
Maybe counting a holiday (if applicable) as part of rescission day in the 3 day current wait period?
I am ALL for giving people time to think the loan through but with all the over-regulation these days and the fact most of these borrowers have been waiting on the closing and funding for at least a month +, I fail to see how these minor changes are or could impair the borrower, however they could speed up the disbursement by as many as 5-7 days?
Anyway, food for thought so any comments, well, they are welcome...
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