Hedge funder Scott Bommer, of SAB Capital, is in contract to sell three Lily Pond Lane properties in the Hamptons for $110 million in an off-market deal, The Post has learned.
A pre approval is based on the documentation the borrower supplies at the time of application, and any actual eligibility to receive the pre approved loan depends on the terms and conditions of the pre approval and ability to secure the loan before the pre approval expires.
As to the replies of doing loan approval on the phone....The pre approval process is more then asking a few questions on the phone. That process went away with sub prime loans and for good reason.In today's mortgage environment quick can be an oxymoron.s to the replies of doing loan approval on the phone....The pre approval process is more then asking a few questions on the phone. That process went away with sub prime loans and for good reason.