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#2155715 - 12/01/17 04:37 PM Preapprovals
Tracey, CRCM Offline
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Joined: Jul 2015
Posts: 542
Gorham, ME
We have a preapproval program (full underwrite subject to property). Question:

We take a preapproval. We pre approve it with a list of conditions. It then flips to a live loan, but they do not turn in the conditions per their Preapproval Commitment. Are we still under the gun to issue another conditional approval within 30 days, or does our original approval subject to conditions stand?
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Tracey

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Lending Compliance
#2155937 - 12/04/17 07:44 PM Re: Preapprovals Tracey, CRCM
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
does our original approval subject to conditions stand?

Stand for what? If you are now waiting on information from the applicant, it sounds like you have an incomplete application.
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