The Bell Oldow Environmental Roadmap is a unique desktop due diligence offering that mirrors the Phase I environmental site assessment process excluding the site reconnaissance and in-person interviews. Bell Oldow designed the Environmental Roadmap to provide valuable environmental data throughout the life of a loan whether in Master Servicing, Special Servicing, or Real Estate Owned. The Environmental Roadmap offers customers an overview of known and potential environmental concerns at a single location or at multiple locations within a portfolio. The process review starts with a street address. When available, Bell Oldow evaluates existing loan documentation including Appraisals, Asset Summaries, Rent Rolls, and any existing environmental data. We then search for or purchase missing data that can help “tell the environmental story of the site” such as regulatory databases, historic aerial photographs and internet data.
Bell Oldow writes the Environmental Roadmap in a business-friendly format with minimal scientific jargon. At the top, users find key borrower facts, a color-coded risk rating, cost-to-cure information and an executive summary. The balance contains supporting data and more in-depth property analysis including:
- Current and historic site use
- Surround property use (current and historic)
- Underground storage tank and/or hazardous materials use
- Regulatory data
In this format, the user can quickly sum up the environmental issue and can choose how much time they want to spend on the details.
Your Proforma
Unlike other desktop reviews, the Environmental Roadmap is like a financial proforma, in that it not only discusses past and present site conditions but also speculates what environmental liabilities a lender would face throughout the life of a loan. The Environmental Roadmap clearly defines action steps and expected costs-to-cure and times-to-cure during Master Servicing, Special Servicing, and Real Estate Owned. This makes the Environmental Roadmap a living document that can be revisited and used as needed. Finally, the cost-to-cure can help with worst-case modeling.
For more information listen to our brief video. https://www.belloldow.com/videos/
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Photo by Giulia May on Unsplash
