A new 2016 rescission calendar is available online from the NNA to help Notary Signing Agents accurately calculate rescission period deadlines this year.
For many mortgages Signing Agents handle, a borrower is given three business days to cancel starting with the next business day after the loan papers are signed. Every day except Sunday and certain federal holidays, is a business day.
For example, since Martin Luther King Day is a federal holiday that always occurs on a Monday, it would not count toward the three-day rescission period for any loan documents signed on the previous Saturday or Sunday.
The NNA’s online rescission calendar provides an easy reference whenever Signing Agents need to check rescission dates for a loan document signing.
David Thun is an Associate Editor at the National Notary Association.
Related Articles:
Notary Signing Agent Tip: Dealing With Post-Dated Loan Packages
Additional Resources:
Signing Agent Tools
NNA Webinars: 10 Steps to a Flawless Loan Signing: NSA Webinar Series