When two borrowers are refinancing a mortgage loan, the notice of the right to rescind:

must be given to both borrowers, but either borrower is permitted to rescind the loan.

must be given to both borrowers, and both borrowers must agree to rescind the loan.

is permitted to be given to either of the borrowers, and only one borrower is needed to rescind the loan.

is permitted to be given to either of the borrowers, but both borrowers need to sign the notice to rescind the loan.