Updated 12-11-2023. A 2024 rescission calendar to help Notary Signing Agents calculate cancellation periods for loan documents is now available online from the NNA.
For many loan signings handled by Signing Agents, a borrower is given the option of 3 business days to cancel, starting with the next business day after the loan papers are signed.
Since every day except Sunday and certain federal holidays is considered a business day, a loan document signing that takes place on or near a weekend or federal holiday may have its rescission period affected as a result.
For example, since Martin Luther King Day is a federal holiday that always falls on a Monday, it does not count toward the 3-day rescission period for any loan documents signed on the previous Saturday or Sunday.
The online rescission calendar provides a helpful reference when NSAs need to check rescission dates for a loan document signing during 2024.
David Thun is the Assistant Managing Editor at the National Notary Association.
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Notary Signing Agent Tip: Rescission Dates FAQ