Identifying potential environmental issues early on in the lending process is an important component of a sound risk management program. Regardless of loan size or property type, having an early indication of any potential issues helps set borrower expectations, and defines any future actions that need to be taken to assure the transaction meets risk tolerance.
WHAT IT'S USED FOR
Collateral360 provides access to an unlimited number of environmental pre-screens to identify issues associated with or in close proximity to a property. Accessing EDR’s environmental records databases, the pre-screen gives you an idea of the potential risk the property presents, and helps define the next level of environmental due diligence necessary. It is the first step in a tiered approach to environmental investigations.
From the environmental pre-screen, you can easily generate an Environmental Risk Rating that helps identify the environmental risk as elevated or low. From within Collateral360 you can also order a Phase I ESA or other report from your panel of environmental consultants.