ExactBid to Offer EDR Risk Data and Solutions
Environmental Data Resources, Inc. (EDR), and ExactBid, Inc., announced an agreement on March 24 that enables EDR's environmental risk data and solutions to be provided through ExactBid's Real-estate Information Management System (RIMS).
RIMS enables lending institutions and others to manage real estate appraisals, environmental studies, and construction inspections. EDR and ExactBid's partnership will provide users direct access to EDR's environmental risk management reports, including EDR LoanCheck Plus, within the RIMS Web-based solution.
"We are very pleased to be working with EDR, the leader in environmental risk management information, to help our lender clients better manage their appraisal and environmental due diligence workflow," said Ed Jones, president of ExactBid. "This partnership will create additional efficiencies for our existing and future clients."
EDR's comprehensive search of environmental records reveals current and historic environmental issues affecting properties, such as leaking underground tanks, hazardous-waste spills, and Superfund sites. Understanding the environmental status of any property helps lenders avoid unexpected risk, reduce default rate, and comply with regulatory requirements.
"Over the long term, and in particular during this business climate, the trend is toward more prudent risk management," said Derek Ezovski, managing director of EDR. "While lenders continue to work with environmental firms to conduct due diligence studies for large deals and those with obvious environmental concerns, many of them conduct their own environmental due diligence that they apply to smaller deals. EDR's partnership with RIMS will increase efficiency for lenders who use EDR data as well as the RIMS management platform as part of their property due diligence workflow."