LaSalle Commercial Appraisal Membership (L-CAM) and Environmental Risk Innovations, LLC (ERI) are very pleased to announce our partnership. This is a partnership of appraisal services provided by L-CAM and environmental risk management services provided by ERI. This alliance was formed so lenders can concentrate on doing what they do best; securing commercial loans and leaving the “due-diligence” details associated with appraisal practice and environmental risk to the L-CAM/ERI team.
L-CAM’s services include the following:
• Appraisal Review Services
• Reviewing Appraisal Policy
• Creating Appraisal Policy and Procedures
• Assistance with Appraisal Ordering
• Training of Appraisal Procedures
• Uniform Standards of Professional Appraisal Practice (USPAP) and Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) Regulation Compliance
ERI assists banks in the management of environmental risk via two primary avenues:
1) For larger commercial lenders or banks that maintain an internal environmental policy and risk management staff, ERI provides third party reviews of environmental site assessments, conducts regulatory database searches and completes Records Search with Risk Assessment (desktop reviews). This is especially beneficial to the bank during periods of high commercial loan volume. In some cases, ERI has deployed risk management professionals to the lender by providing contract “in-house” support on a short-term basis to meet periods of high demand.
2) For smaller banks whose commercial loan volume does not warrant the need for a full-time, “in-house” environmental risk management staff, ERI can provide “turn-key environmental risk management support,” including policy development, obtaining bids from third party consultants, review of proposals, review of environmental reports, consultation and determination of environmental risk. This “turn-key” approach provides a “one-stop shop” for commercial lenders, allowing them to focus on their core business of underwriting commercial property loans.
Under both scenarios, ERI offers a wide variety of traditional and progressive environmental risk management services which include the following:
• Development of Corporate Environmental Policies
• Policy Implementation and Enforcement
• Third Party Environmental Report Review
• Environmental Desktop Review
• Small Business Administration (SBA) Records
Search with Risk Assessment
• Regulatory Database Search and Risk Review
• Assistance with Phase I/Phase II Ordering
• Environmental Risk Management Training
This is an exciting venture for both companies as we look forward to continued growth.