...(a) With respect to each Mortgage Loan, each Mortgage File contains a written appraisal or other property valuation report of the related Mortgaged Property in accordance with the applicable Underwriting Guidelines. Each appraisal was prepared by a Qualified Appraiser, which (i) meets the requirements of the applicable Underwriting Guidelines, (ii) complies with the requirements of Title XI of FIRREA, (iii) was made and signed, prior to the closing of the Mortgage Loan, and (iv) satisfies applicable legal and regulatory requirements. Each Mortgage Loan not requiring a written appraisal in accordance with the applicable Underwriting Guidelines includes an AVM that was used solely for the determination of the value of the Mortgaged Property at the time of origination of the related Mortgage Loan, as permitted by the applicable Underwriting Guidelines or FIRREA, whichever has the lower dollar threshold for the permitted use of such valuation methodology. For the avoidance of doubt, this representation...
