You may have been coming to EDR for environmental risk information on the properties you lend on for years but, did you know we now offer much more for lenders? You’ve got your subscription to the Lender Portal, but you probably aren’t realizing all the efficiencies the system has to offer. To reap all the benefits of the Portal, take advantage of these features and services
Manage your policy:
Regulatory requirements have drastically increased in the past years. Staying on top of compliance issues and monitoring your policy’s use can take up significant resources. The Lender Portal allows you to embed your policy into your workflow so that every loan goes through the appropriate level of due diligence.
Order, view and manage your flood certs:
EDR has partnered with ServiceLink National Flood to provide flood certificates through the Lender Portal. Flood investigations are necessary on every transaction, and ordering them on the same platform you use to conduct other due diligence can improve your process, efficiency, and invoicing. In addition to ordering flood certs, you can also choose to monitor flood over life-of-loan.
Procure Appraisal Services:
You can easily manage your entire appraisal process in-house using the Lender Portal. The permissions-based functionality allows the ordering of appraisals by approved staff only, providing compliance with “arms’ length” regulations. The Lender Portal automates the process of keeping track of your appraisers’ licenses and E/O insurance, issuing RFP’s and engagement letters, measuring vendor performance, and much more. Whether you’re using excel spread sheets to manage your appraisal assignments, or outsourcing to an AMC, you can realize significant efficiencies leveraging the Lender Portal.
Commercial Evaluations are used as an alternative to a full appraisal for loan originations, refinances, renewals, portfolio management, risk management and REO for certain loan scenarios. EDR has contracted with First American to offer commercial evaluations through the Lender Portal. Evaluations can help you significantly reduce valuation costs and save your borrower money, while at the same time improve turnaround time, allowing you to close deals quicker. Whether you need a full appraisal, or can make do with an evaluation, the Portal provides a one-stop-shop to manage all your valuation efforts.
Order pre- and post- transaction inspection reports through the Lender Portal with a click of a mouse. We’ve partnered with QuikTrak to provide site inspections used in the approval, processing and monitoring of your commercial loans. The QuikTrak reports are a great way to verify collateral, occupancy and property condition.
Environmental Due Diligence:
Over the years, EDR has been well-known for our environmental screening and other due diligence tools. The Lender Portal incorporates those tools with other property due diligence tools to make it a true one-stop-shop. Within the Portal, you can run unlimited Environmental Pre-screens, order an Environmental Risk Rating (ERR), or a Loan Check Plus.
For additional environmental due diligence needs like ordering Phase I ESAs and other environmental reports, you are able to manage the process within the Lender Portal. Upload your vendors, request bids and receive the reports and materials all in one place.
Each function of the Portal provides efficiency on its own, but you’ll realize the real benefits of this “one-stop-shop” the more you use. Keeping all of your property due diligence materials together helps to keep your whole team on the same page, while allowing you to put in controls and policy to comply with the increasingly onerous regulations.