The New Birth
Is it possible that the rebirth is multifaceted? Meaning to be born again includes justification, imputed righteousness, adoption, etc.?
No, your statement, for the most part, is incorrect. The new birth is a Spirit baptism that includes the death of the old person who was under law, and a resurrection to new creaturehood. And, the imputation of our sin to Christ as a penal substitution, is not a like imputation of righteousness to the new man. The righteousness of the new man is NOT a substitution for a righteousness that the believer does not possess as a state of being, in contrast, in Spirit baptism, the believer is MADE righteous. Christ was a substitution for the penalty of our sin, but He does not provide a substitutionary righteousness for us, to the contrary, He MAKES US righteous.
Moreover, His substitutionary payment for sin only occurred once, and has no future application for the believer. This was the main concern of the Hebrew writer, viz, ritual does not perpetually apply Christ’s death to future sin. “It is finished.” One imputation relegated to the cellar closet is the imputation of all sin to the Old Covenant law. “All sin is against the law.” “Where there is no law, there is no sin,” etc. All sin is held captive in the OT law, and then Christ came to end the law (Rom 10:4). Also, see Galatians ch 3. The law was a “guardian” (protector against eternal condemnation) until Christ came. When someone believes in Christ, all of the sin they committed against the law is ended because the Spirit puts the old us that was under the law to death. We die in Christ who died to end the law.
As far as present and future sin, where there is no law there is no sin. Why then the law? Well, as stated previously, to “hold sin captive until faith came,” but also for purposes of the new man to exercise “faith working through love.” So, in the same way one sin makes those under law guilty of all points, the love of the believer fulfills the whole law. This is not a legal loophole, the saved person has a love for truth not previously possessed and longs to be set free from what now makes sin possible: WEAKNESS. The saved person has a “willing spirit, but the flesh is weak.”