Be sure to scroll down and watch the video!
The system can check for weekends and holidays for every deadline and if the date falls on a weekend or holiday, the system will automatically move it to the next business day depending on deadline date calculation selection. If the deadline is calculated using the Contract Date, the date is moved forward. If the deadline is calculated using the Closing Date, the date is moved backward. If the date has been moved due to a Weekend, a dark yellow blinking arrow icon will be displayed. In the case of a Holiday, the blinking arrow icon will be reddish orange.
The auto-check for weekend and holiday feature is set “ON” by default. To turn this feature "OFF", uncheck the box at the top of the Auto Dating Deadline Template you are using: Check for Weekends & Holidays for All Items
Example: The Contract Date is 08/31/2016 and Closing Date 10/20/2016. Four deadlines are explained below. Loan Application Deadline was set at 4 days from Contract date. This deadline will be 09/04/2016 which is a Sunday. When pushed to a Monday, there is a holiday (Labor Day). The deadline was automatically moved to Tuesday, and it has both dark yellow and reddish-orange arrows. The Existing Loan Documents Deadline was set to 10 days prior to Closing. The deadline fell on Columbus Day (Monday) and was pushed back through the weekend to the previous Friday. It has both dark yellow and reddish-orange arrows. The New ILC or New Survey Deadline is 5 days after Contract Date. That fell on Labor Day, so it is pushed forward to Tuesday and has a reddish-orange arrow. Appraisal Deadline is set to 12 days before the Closing Date. This falls on a weekend, so the deadline is pushed back to Friday and has a dark yellow arrow. Possession and Acceptance Times can also be indicated.
NOTE: The dates can be modified even after they have been inserted into the contract. Just click the calendar icon for each deadline and select the desired date.
Important: To delete an Auto Dating Deadline Template, just recall that template and check the delete box on the left next to the word Delete. Then click Save and Display.