What must a borrower provide to waive the rescission period?

To waive the rescission period, a borrower must provide a dated, written statement. This requirement ensures that the borrower clearly understands and agrees to forgo their right to revoke the loan agreement within the legally mandated rescission period, which is typically three days following the closing of the loan. A dated written statement serves as formal evidence that the borrower has explicitly consented to this waiver, providing protection for both the lender and the borrower.

In this context, other options such as a verbal agreement do not hold up as sufficient documentation, as verbal agreements can be ambiguous and harder to verify. Similarly, proof of income or a letter from a financial advisor are irrelevant to the specific requirement for waiving the rescission period, as they do not directly convey the borrower's intent to waive their rights concerning the loan agreement. The focus on a written and dated statement is crucial for compliance with regulations and ensuring that proper documentation is maintained.