Definition: Business Days

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Business days go by the work week, Monday-Friday.

We often need to know in the law what is meant by a “business day” — as an example we’ll use this in the context of our mortgage company and RESPA (Real Estate Settlement Procedures Act).

Let’s say we send our mortgage company a request for information or a notice of error.

Once those letters are received by the mortgage company, they have 5 business days to acknowledge that they have received them.

If they received those letters on a Tuesday, then they would have until the following Tuesday to acknowledge them.

Unless Monday is a holiday, in which case we would roll over one more day to Wednesday.

The mortgage company also has 30 business days to give us a substantive response.

It’s important to understand how business days work, and that the mortgage company has deadlines to respond to you.

Often in litigation we are counting “calendar” days and even in RESPA we use calendar days. For example, we might have 21 calendar days to respond to a motion or an order from the court.

Or in the world of RESPA and mortgages — we might need to get in a loss mitigation package more than 37 day calendar days from the scheduled foreclosure date.

So we want to make sure as we look at dates and deadlines that we know whether we are dealing with calendar days (regular days) or business days (Monday – Friday). In either event, the general rule is if the last day falls on a weekend or holiday, we go to the next day.

Contact Us.

If you have any questions and you live in Alabama, you can reach us by phone at 1-205-879-2447.

You can also fill out a contact form and we will get in touch with you as soon as we can.

I look forward to chatting with you!

Have a great day.

-John G. Watts

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