For closed-end loans, the model rescission forms are set forth in Appendix H of Truth in Lending (Regulation Z) and referenced in 12 CFR § 226.23.  Both the 1) general and 2) refinancing with the original creditor model forms are included in the Appendix.  Below are the Reg. Z model forms for closed end transactions and links to the DocMagic versions of these forms.  Keep in mind that there are many customized options available, but for brevity, only the DocMagic default versions are listed below.

1) Model Form H-8 (General)

Our modified form is NORTC.MSC.  This form is selected when the loan is a closed-end transaction, the property type is owner-occupied and not a second home, and the loan purpose is either a refinance, junior, 3^rd, 4^th, streamline refinance, home improvement, or home improvement consolidation.

2) Model Form H-9 (Refinancing with original creditor)

Our modified form is NORTCI.MSC.  This form is selected when the loan is a closed-end transaction, the property type is owner-occupied and not a second home, and the loan purpose is an increase in the amount of credit previously provided.

Please note, however, that some investors may have their own rescission forms or give us different form selection instructions.  In those cases, we will default to the investor's specifications.

DSI's Compliance Department invites you to review our other articles on the Notice of Right to Cancel:

• Borrower's Right to Rescind
• Open-End Loan Forms & Form Selection Logic
• Instructions for Completing a Notice of Right to Cancel Form