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FICAP - Service and Compliance

The regulatory environment is constantly changing and is often misunderstood.  FICAP solves this problem...

FICAP compliance officers and provider members maintain ongoing review of the latest regulatory and service standards issues to ensure all FICAP services meet or exceed these requirements.  Complete,independent audit trails are created for each project.  These can be easily accessed by the client for audit and/or regulatory compliance verification.

FICAP offers a complete service system that will initiate, promote and ensure continued compliance practices as changes to financial institution policy & procedures, USPAP, Federal, and State regulations occur over time.

FICAP compliance support is provided through qualified compliance officers and system installation support is provided through qualified FICAP technicians who understand the needs of Financial Institution clients.  The service structure includes:

FICAP Web Based System FICAP Trained Compliance Officers

(Management Component)

  • Management of Approved Appraiser Lists
  • Management of Appraisal Function by loan officer, appraisal review department and the contract appraiser:
    • Appraiser Bid Process
    • Appraiser Engagement
    • Receipt of Appraisal Report
    • Review of Appraisal Report
    • Report Finalization & Delivery
    • Rating of Appraisal Product

(Compliance Component)

  • Policy and Procedure Formulation
  • USPAP, Interagency A&E Guidelines and bank specific policy & procedure compliant forms:
    • Engagement letters
    • Review Forms
    • Validity Check/Evaluation Forms
    • Final Inspection Forms
  • Appraiser Approval Process including:
    • Appraiser application
    • Tiered panel risk classification
    • Appraiser rating system