The TRID & Rescission Calculator is the newest edition to our stock items.
Creditors are required by law to provide consumers a Closing Disclosure, with the actual terms of the transaction for a loan, at least 3 business days before the consummation of the loan.
A two-disc wheel chart, the TRID & Rescission Calculator indicates the “Consummation Dates” for loans based on delivery of Closing Disclosures, whether delivered by hand or by mail. The back of the disc contains working schedules and explanatory information.
A handy tool for creditors, a spin of the top wheel, setting the Start Arrow at the Closing Disclosure delivery date, sets the next two arrows at the consummation dates, depending on whether the Disclosure was delivered by HAND or MAIL. Since the base wheel excludes all Sundays and Federal Holidays in its “Work Days by Month” calendar, exact dates for loan consummations are yielded instantly, without any time-consuming counting or inaccurate estimates.
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