For Notary Signing Agents just getting started or even those in the business for a while, we have come to know and love our Rescission Calendars. These are important because they tell us when our Signer's last day to cancel is. We use it every time we go to a signing to check the dates, or enter the correct dates on the Signers' Notice of Right to Cancel form. We have printed copies that we carry with us. We have it on our smart phones. And we check it every time we print a new package that requires a NRTC to be in the package. But, are we too attached to it?
We should be educated enough to figure out the correct date for the last day to cancel a transaction on our own without referring to a Rescission Calendar. Why? Because those pre-printed rescission calendars COULD potentially be wrong. And, in 2021 the NNA Rescission calendar was wrong TWICE. The first time was when the US Congress arbitrarily threw in a new holiday...Juneteenth, two days before it was to be observed. That left everyone scrambling. The second time was for the Fourth of July Holiday.
There are eleven Federally recognized Holidays; New Year's Day, Martin Luther King Day, Washington's Birthday, Memorial Day, Juneteenth, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day.
When a Holiday falls on a Saturday, it is observed on the Friday before. When it falls on a Sunday, it is observed the following Monday. We, in the industry call these "PUSH" Holidays because they are pushed forward or back by one day.
The NNA Calendar for 2021 incorrectly listed the rescission date for Thursday 07/01/2021 as 07/05/2021 when it should have actually been 07/06 (because 7/5 was a PUSH Holiday). And for Friday 07/02, it was listed as 07/06 and should have been 07/07 (because 07/05 was a PUSH Holiday). And for Saturday 07/03 it was listed as 07/07 when it should have been for midnight on 07/08.
The regulations state that certain loans must give the borrower a (3) three day right to cancel. Nothing in the regulations state that they can't have a day or two longer. It just can't be less than three days. So when we are figuring out the last day to cancel for ourselves (not relying on the rescission calendar), we are counting (3) three days from the date of the signing BUT you skip Sundays, Holidays, and skip PUSH Holidays.
So all you really need to know is what the Federal Holidays are and what day they fall on.