The Collateral Risk Assessment Process is a proprietary process that FHA will use to ensure that risks to FHA are mitigated by the use of a second appraisal. Each Home Equity Conversion Mortgage (HECM) will be evaluated individually to determine if a second appraisal is required.
Because this is a proprietary process, Mortgagees will not be able to obtain a copy of the assessment.
The process will be reviewed periodically and modified as needed.
For additional information, see Mortgagee Letters 2018-06 and 2019-16 available at: https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee