Required Second Appraisals
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Required Second Appraisals
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| A second appraisal is recorded using Appraisal Logging in the following circumstances: | |||
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91-180 day property flipping rule applies to the case. | ||
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A HECM Automated Valuation Model (AVM) appraisal that significantly differs from the first appraisal. | ||
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Case was transferred to another lender and due to a portability issue, the new lender ordered a second appraisal. | ||
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Expiration of the appraisal validity period. | ||
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Under certain conditions, an as-is appraisal is required for a 203(k) Rehabilitation Mortgage Insurance case in addition to the first appraisal, which is always a subject to appraisal. | ||
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