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Is a second appraisal or AVM permitted in a lenders foreclosure/REO processes?

April 26, 2017appraisal AVM foreclosure Lender permitted Processes REO

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Is a second appraisal or AVM permitted in a lenders foreclosure/REO processes?

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Yes. AIR does not apply to the lender’s foreclosure/REO process. It applies to all conventional mortgages that are sold to Freddie Mac regardless of the transaction type and only applies to new mortgage originations if the new mortgage that finances the purchase of the REO is sold to Freddie Mac.