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You are here: Home » Resources » Articles » Change Is in the Air: New Environmental Due Diligence Requirements

February 1, 2012

Change Is in the Air: New Environmental Due Diligence Requirements

By Jay Grenfell, LEED AP

Environmental Due Diligence practices continue to evolve, and there were
several significant changes that shaped the industry in 2011. These likely will continue to have an impact on how lenders operate this year.

Commercial mortgage brokers should look closely into changes in due-diligence requirements that pertain to Small Business Administration (SBA) and Freddie Mac loans, as well as changing standards from ASTM International, formerly known as the American Society for Testing and Materials. This information will help brokers guide their clients in purchase and financing decisions.

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About the Authors

Jay Grenfell, LEED AP

Jay Grenfell, LEED AP

National Client Manager
Jay Grenfell has over 17 years of experience in the environmental and transactional due diligence consulting industry and has worked in various disciplines, including regulatory compliance, EH&S, asbestos abatement and air monitoring, Tier II reporting, in addition to his core competency in environmental and physical due diligence practices, including Phase I ESAs, Phase II ESAs, Property Condition Assessments (PCAs), and Seismic Risk Assessments (SRAs). His primary area of expertise is in the environmental due diligence field, where he has performed and/or managed thousands of Phase I ESAs and physical diligence projects, including multiple large multi-site due diligence portfolios. Mr. Grenfell currently works as a relationship manager providing consulting services and transactional due diligence solutions to a variety of client types, including banks, insurance lenders, brokers, developers, individual investors, and equity/institutional investors. His experience allows him to provide risk-based solutions with a keen understanding of environmental and physical due diligence risk as it relates to specific stakeholders within a particular transaction. He enjoys assisting his clients in meeting their goals by providing well-documented reports and risk-based solutions that allow his clients to make sound risk management decisions and close deals.

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