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LCS’s EAQuick Loan Check Product Meets and Exceeds FDIC’s New Recommendations for Environmental Risk Program!
A low cost environmental product with an exceptional turnaround time relieves pressure for Lenders.

LCS, Inc. has studied the FDIC Guidance document at great length. What struck LCS was the FDIC’s statement that "an initial environmental risk analysis needs to be conducted."

The recommendation goes on to state that this will "allow the institution to avoid loans that result in substantial losses or liability and provide the institution with information to minimize potential environmental liability on loans that are made."

Finally, the document states clearly that "... in performing this preliminary analysis, data may include the present and past uses of the target property, any actions involving environmental government agencies and, possibly, a site visit."

LCS developed the EAQuick Loan Check report three years ago to meet client needs to gather enough information, in a timely and cost effective manner, that allowed them to make an informed lending decision. If a Lender avails themselves of this report they will clearly and certainly meet the intent and recommendations of the FDIC.

In fact, this product is tailor made to meet these compliance requirements and others found within OCC, USSBA and other authority’s guidelines for environmental due diligence. Mark V. Li Puma, President and CEO of LCS offered the following:

"For years now we have been fine tuning the development of a report product that allows the Lender to receive a quick and efficient analysis of a property relative to environmental risks. The Environmental Assessment Quick Loan Check Report or EAQuick Loan Check is the result of these efforts.

We made this a 'progressive' due diligence product. In essence, the Lender can start with the EAQuick Loan Check report and end with a full Phase I Environmental Site Assessment with only incremental price increases along the way, making it even more attractive to our Lending clients. The Lender can decide to stop at any level in the process that satisfies their policy requirements and risk tolerance."

"The definite distinction between our product and others offered in the market place today is that we offer the opinion and recommendations of an Environmental Professional as defined by the EPA at 40 CFR Part 312 AND the report is fully insured!"

The EAQuick Loan Check includes a full environmental database report, historical research, municipal research, an owner/operator questionnaire and (most importantly) the opinion and recommendations of an Environmental Professional as to how the Lender should proceed. LCS also offers a site visit option to the Lender if they feel it is necessary.

The fees for this start at $375.00 and increase dependent on the requirements of the Lender.

If you would like to see a sample report simply drop LCS a line at (800) 474-6802 or e-mail them at mail@lenderconsulting.com. Ask for Mark V. Li Puma, CEO and he will make sure that you receive all the information you will need to analyze this truly unique and exciting product.

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