The Environmental Risk Rating (ERR), accessed through Collateral360, can help you determine a property’s environmental risk. Using EDR’s ToxiCheck® to classify the property’s environmental risk as “low” or “elevated,” the ERR provides you information to help manage risk, and provide official documentation for your loan file.
The ERR is a logical step, following an Environmental Pre-Screen, in a sound and sensible environmental risk management program. Low ratings can be documented in the loan file while elevated findings can be escalated further using EDR’s LoanCheck Plus or through a Phase I procured from your consultants.
WHAT IT'S USED FOR
The ERR provides:
- Instant environmental risk rating
- Data on incidents, permits, historical records
- Formal documentation for loan file