EDR Contracts With First American Professional Real Estate Services To Offer Commercial Evaluations

SHELTON, Conn., May 20, 2014 /PRNewswire/ -- EDR, a national provider of data, applications, and insight for the property due diligence industry, today announced it has contracted with First American Professional Real Estate Services to provide commercial evaluation reports through the EDR Lender Portal.

Commercial evaluations are used on certain real estate transactions, as defined by the Interagency Appraisal Guidelines (2010).  Evaluations may be less expensive as compared to a traditional appraisal and can be completed in less time, allowing the lender to make an informed decision, which can be critical in a competitive lending market.

The EDR Lender Portal is a web-based, policy driven application that streamlines workflow associated with appraisal procurement, environmental investigations, flood investigations, site inspections and other third-party services.

The addition of First American Professional Real Estate Services' commercial evaluations expands EDR's property valuation solutions. The EDR Portal provides lenders a platform where they can manage their entire appraisal operations­­ ­­– everything from putting projects to bid, generating engagement letters, and tracking assignment status, to managing appraiser lists, monitoring licenses and E/O insurance, and measuring performance. With the ability to infuse individual lender policy into the workflow, the system dictates what action is needed on each transaction to be compliant, such as when an evaluation is sufficient.     

"Combining commercial evaluations with our product suite is a natural advancement. Our mission is to provide a platform within which lenders can perform the bulk of their due diligence, helping them to simplify their workflow and improve operational efficiency," said Guy Tassinari, managing director of EDR's Lender Services Group. "In the future we will continue to deliver new products and services; ones that are core to helping our clients advance their lending operations, remain competitive, and meet compliance obligations."

For more information on commercial evaluations, or other services available through the EDR Lender Portal, contact an EDR representative at 800-352-0050.

About EDR
EDR provides data and technology to property due diligence professionals. Since 1990, EDR has been curating America's most comprehensive repository of environmental and land use information from both public and private sources. This national database contains over 3.1 billion current and historical records —including the complete Sanborn Library archive of land use maps.  EDR also conducts market research and shares strategic industry intelligence through a variety of online channels and in-person events.  Headquartered in Shelton, CT, EDR has regional offices located throughout the U.S. The company is wholly owned by the Daily Mail and General Trust, plc (DMGT). For more information about EDR, please visit www.edrnet.com.

Contact: Brett Dehler (800) 352-0050

Brett Dehler: [email protected]
Pat Coyne:  [email protected]  

SOURCE EDR