Environmental Hazard Assessment

Overview

An environmental hazard assessment is required for condo projects if an environmental problem is identified by the underwriter through performance of its project underwriting or due diligence. If environmental problems are identified, the problems must be determined to be acceptable. Underwriter must keep a copy of this assessment in the project review file. Notwithstanding the above, any Homium loan with an environmental hazard should be referred to Executive Management for review.