We have a property held in OREO that we had appraised less than two months ago. We are selling this property to another bank client. Is there anything in the regulations prohibiting us from using the appraisal that was prepared for seller (our bank) in the purchase transaction?

No.

Randy, is the bank/seller exempted from the "flip appraisal" due to the fact that we obtained the property through foreclosure?

(vii) Exemptions from the additional appraisal requirement. The additional appraisal required under paragraph (c)(4)(i) of this section shall not apply to extensions of credit that finance a consumer's acquisition of property:

(B) From a person who acquired title to the property through foreclosure, deed-in-lieu of foreclosure, or other similar judicial or non-judicial procedure as a result of the person's exercise of rights as the holder of a defaulted mortgage loan

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