Not An AMC

The FICAP service system does not function as an appraisal management company (AMC)...

The FICAP service system does not function as an appraisal management company (AMC). FICAP was designed to assist Financial Institutions with appraisal and evaluation compliance. Each Financial Institution client has full administrative control of their service system. All of the functions are managed by the client and each client has immediate access to qualified FICAP compliance officers to assist with any questions. On the appraisal/evaluation management side, the adminstrator(s) create(s) and independently maintain(s) their valuation service provider panels. Selection, engagement and fulfillment of services, with complete review and project communication functions are all controlled by the client. Each activity is logged and included in each project audit trail. FICAP provides a beginning to end Financial Institution compliance service system.