If I am already prequalified to buy a home, can another bank that is selling an REO property require me to prequalify through them as well?

Question

If I am already prequalified to buy a home, can another bank that is selling an REO property require me to prequalify through them as well?

Answer

Yes, because there is no standard for prequalifying borrowers, and probably little or no communication between the banks.

Answer

Yes. The bank can require you to finance through them, and that means they can make you meet THEIR prequalification standards.