Per the Interagency Appraisal and Evaluation Guidelines;
"For residential transactions, loan production staff can use a revolving, pre-approved appraiser list, provided the development and maintenance of the list is not under their control."
As an internal auditor, should I ask for proof of the revolving aspect of the list? We have an approved appraiser list, but how can I be sure they aren't engaging the same appraisers more often than not?