Getting Compliant

Getting compliant with FICAP is a simple, cost effective process. The first step for any financial institution is establishing the appropriate policy and procedures in accordance with regulatory requirements and the individual institution's risk management guidelines. This process is led by a highly trained expert FICAP Compliance Officer who assists the financial institution in establishing the correct policy and procedures that will direct their compliance activities. The FICAP Compliance Services Team is led by FICAP Chief Compliance Officer, Cheryl B. Bella, MAI, AI-GRS. Cheryl and her team of experts first conduct a thorough review of existing policy and procedures. They then suggest adjustments and assist in modification of policy and procedures if required. Next, your FICAP system setup is established in accordance with your own policy and procedures. Then, the institution's lender (loan production) group and appraisal review department (ARD) who oversees the service process and acts as the firewall between lenders and appraisers is established through the institution's own IT department. Next, the appraisal review department (ARD) qualifies the valuation service providers (appraiser panels) that will be serving the institution's needs. Once these teams are in place, training of the loan production, appraisal management and appraiser panel groups is conducted to ensure that each constituent knows, understands and works within the framework of the compliance requirements established by your institution. Getting started is easy, simply request a free demonstration by clicking the link below and you are on the way to simplifying your valuation service processes and total compliance with all regulatory requirements, consistent with your institution's policy and procedures. Welcome to FICAP.