The role of appraisal management companies (AMCs) is to manage the appraisal fulfillment process on behalf of mortgage lending clients. Regulatory focus on third-party risk management has increased as banks and credit unions expand the number and complexity of relationships with third party vendors, including AMCs. The U.S. Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) has focused on heightened examination and guidance in this area, characterizing increased regulatory scrutiny of how institutions must manage the third-party oversight (TPO) process. The guidance defines a "third-party relationship" as any business arrangement between a financial institution and another entity, by contract or otherwise. (OCC Bulletin 2013-29, Third-Party Relationships: Risk Management Guidance, dated October 30, 2013)

Appraisal Compliance Review, Inc. (ACR) is an appraisal management company created by a credentialed real estate appraiser in 2006. Our offices are located in the downtown central business district of Sheboygan, Wisconsin. ACR operates a centralized processing center providing residential and commercial property appraisal management, appraisal quality assurance, appraisal validations and collateral evaluation services to regulated financial institutions located throughout the state of Wisconsin. ACR manages and oversees networks of independent, third-party service appraisers (‘appraisers") as well as ordering, tracking, reviewing and delivering assignments to lenders for mortgage lending use.