When identified as “Y” the definition will be a lending institution now owns the property (this does NOT apply to relocation or third-party ownership). Lending institutions may own property that has not gone through a foreclosure. Should an agent need to define the ownership to exclude foreclosure, they may use the Non-Public Remarks to identify other types of sales. An example would be: Estate Sale or Trust Sale. When marked, “N” a lending institution does not own the property. This field continues to be mandatory.
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