Guide Update 21-16
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Environmental Database Review
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HIGHLIGHTS |
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Effective for Mortgage Loans Committed on or after November 19, 2021, the criteria for determining when to obtain a new Environmental Site Assessment (ESA) was updated in
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Primary Changes
A new Phase I ESA is not required if an Environmental Professional performs an environmental database review and identifies no
- potential environmental concerns (as defined in ASTM E1528 – Standard Practice for Limited Environmental Due Diligence: Transaction Screen), or
- adverse conditions requiring further due diligence.
Questions
Please contact Tammy Romero at (202) 752-7533, or [email protected], with any questions.