Environmental concerns are a significant area of review in commercial real estate transactions. In this session CU Business Group’s senior underwriters will cover the appropriate due diligence to reduce environmental risk on real estate secured member business loans. The discussion will include a review of common environmental reports ranging from Environmental Data Resources, Inc (“EDR”) reports to Phase II Environmental Site Assessments (“ESA”).
Specific topics covered will include:
- Why you need to discover environmental issues before you make the loan
- What’s included in the various environmental reports
- The All Appropriate Inquiries (“AAI”) rule
- The Innocent Landowner Defense
- Specific examples of contamination via photos and stories
Suggested audience: Management and individuals who directly influence, manage, and market the business
services program at your credit union.
Length: 50 minutes