NREIS Press Releases

National Real Estate Information Services Mitigates Environmental Due Diligence Challenges for Commercial Lending Clients

Pittsburgh, Pa. (Jan. 18, 2006)—With environmental due diligence leading the way as the single most complex issue facing commercial lenders today, National Real Estate Information Services (NREIS) offers its commercial clients environmental services, including lien searches, interviews and valuations.

National Real Estate recognizes that environmental remediation poses a great risk for commercial lenders, as well as their borrowers. Fortunately, National Real Estate provides the expertise commercial clients need to navigate environmental issues and satisfy U.S. Environmental Protection Agency (EPA) regulations.

“When it comes to environmental due diligence, nothing can be left to chance,” said Michael Forgas, President/COO of National Real Estate. “Commercial lenders need to know that commercial properties check out from an environmental standpoint. Moreover, they need to be confident that environmental lien searches are being conducted in a thorough and timely manner. National Real Estate provides the expertise to successfully conduct environmental due diligence.”

With the August 2004 introduction of new regulations called the All Appropriate Inquires (AAI), the EPA now requires commercial lenders to conduct the most extensive investigations to date on commercial properties. Failure to comply with AAI regulations increases the likelihood that borrowers will face liability and responsibility for environmental remediation if properties are, in fact, contaminated.

An environmental lien search is one of the primary steps in satisfying the EPA’s AAI regulations. As an expert in all types of property searches, National Real Estate conducts comprehensive searches of county records for any liens filed against properties by applicable agencies—EPA, Department of Environmental Protection (DER), or Occupational Safety and Health Administration (OSHA)—for the existence of hazardous materials.

In addition, National Real Estate conducts interviews required of the property owner, previous owners and neighboring property owners. If the property is contaminated, NREIS will perform the valuation of the property subject to the property not being contaminated as required by the new AAI standards.

With National Real Estate handling the environmental due diligence process, both commercial lenders and their borrowers can be assured of the accuracy and thoroughness of the environmental condition report. Best of all, National Real Estate is able to provide these services faster and less costly than traditional channels.

About NREIS
For nearly 25 years, NREIS has supported both the residential and commercial mortgage and real estate industries through a custom service model, easy-to-use technology, and comprehensive products. National Real Estate's products and services include title insurance and property reports, real estate appraisals and alternative valuation products, commercial real estate services, settlement and closing services, default services and property preservation, and flood and tax certifications.

Product Information Contact:
Ed Marotta
Director of National Accounts
1.800.753.3339 ext. 1419
edward.marotta@nreis.com

William Rossi
National Sales Director
1.800.753.3338 ext. 1746
bill.rossi@nreis.com

Media Contact:
Raelin Sawka Musuraca
Creative Director, Marketing Department
1.412.808.1776
raelin.musuraca@nreis.com