Does the SEI monitor or certify appraisals?
No. Beyond the confidentiality issue, the only firsthand knowledge the SEI has of an appraisal–other than the occasional appraisal in which an SEI staff member participates–is that the appraisal has been performed by a person authorized by the SEI (i.e., a Lead Appraiser) to perform the appraisal. This means that the Lead Appraiser has permission to use SEI materials and that their SEI authorization is in good standing. Although prerequisite qualifications, random audits, and other mechanisms are in place to monitor a Lead Appraiser’s performance, the SEI does not have the resources or mission to closely monitor every Lead Appraiser’s performance. The SEI’s Appraisal Team performs quality reviews of appraisal records reported to assure completeness and correctness of data submitted. There is a method compliance test performed on appraisal reports submitted to assure all phases of the appraisal have been performed and appropriate information has been provided to make the appraisal’s c
