Gheezzzzzzzzzzz

   A Federal holiday on a Saturday or Sunday usually moves to the following Monday.   

    Will the Fed be "open" on Monday?   What about Banks?   What about the U.S. Postal Service?  

I could not care less that they added another SJW VS Fed holiday . . . but if you're happy I'm happy LMAO! 

Man cannot be governed by law alone. We should respect others and live that life because it is righteous (right thing) to do so. Also you raise a good point i.e. business suffers with too many holidays. Add weekends & the work-day is scarcer making others scramble. Why? 

Thankfully had a closing on Friday and all recorded well and the next one is on Thursday this coming week. But I was told by several real estate attorneys on Friday that this came at them with no warning.

Two banks Chase and another major player will be open for business Monday and begin the day off next year. It is government work, so confusion is built in!

stupidity that they took a holiday one day after it was made a holiday and not next year or with enough advance notice to not have it affect borrowers

Are we going to make it into a big deal? Some will I guess. Valid considerations on your thoughts & what Diana Zaccaro said.

I received a newsletter about this yesterday and it will also impact the right of recession. I can't post a link to the newsletter so posting just that section of it. Do you see this as a problem?

Another immediate question for LOs is how to count the right of rescission. The right of rescission allows refinance, HELOC or home equity loan borrowers to walk away, within three days of closing.

The rule has been around since the 1968 Truth in Lending Act. When a borrower signs a loan, the clock starts ticking. Normally, however, a new federal holiday is not enacted in less than 72 hours.

But what about rescission periods for loans that were signed on Wednesday or Thursday, before the law went into effect? The FDIC’s note to lenders is not very reassuring.

“Whether it will affect the rescission period for loans closed earlier this week (before the signing of the law) is uncertain,” the compliance note reads. Yikes."

Interesting perspective. I have a closing on the 25th. Doubt if it will affect that closing. I have not seen announcements of any title company or recorder closings, yet. I did have a close last Friday. No problem, yet my office was closed for the Holiday.

Next year we will all be ready for the extra holiday. We manage to work with other holidays, why not this one?

As with most Federal holidays....we work regardless. Government workers and banks gets the day off. Oh well. Jeff  😎

I think it will take until next year for changes to be implemented.