Daily Mail and General Trust P L C : EDR announces the release of LoanCheck® RSRA.

10.01.18

Last week EDR announced the release of LoanCheck® RSRA. This is a comprehensive environmental report fulfilling the U.S. Small Business Administration's updated guidelines for a Record Search with Risk Assessment (RSRA). The RSRA is an environmental report required as part of the loan underwriting process.

The new SBA guidelines require historical records to identify a property's use back to when it was first developed or back to 1940, whichever was earliest. In light of this new guideline EDR has incorporated aerial photos to the data used in their LoanCheck® product, meaning that each report will now include three historical research sources.

Aerial images are a fantastic source for identifying property uses over time, and in many cases EDR's extensive collection of photographs help lenders see the history of a property long before 1940. EDR LoanCheck®RSRA offers SBA lenders an easier to understand risk rating (low or elevated) and alongside historical records also includes an opinion from an environmental professional.