The rescission period is for the borrowers protection and usually will not get waived by the lender because it is a government regulation to have 3 days rescission period after a refinance transaction.The only time the rescission period does not apply is on a purchase transaction. Purchases usually fund on the same day, unless there are some extenuating circumstances, like a late closing.
The recission period for a refinance loan cannot be waived.
It is not that you cannot waive your recision period. You can waive this period if the lender allows you to. However there are no lenders that will risk it.
The recission period of 3 days includes weekdays and Saturdays. It does not however include Sundays or legal holidays. The recission period is only provided for owner occupied refinances. There is no right of recission on purchase transactions and on a non-owner occupied refinance (A non-owner occupied refinance would be an investment or rental property).
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