Phase I's being phased out by environmental insurance.
Mortgage Banking › Vol. 62 Nbr. 10, July 2002 ›
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Executive Essay
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Phase I's being phased out by environmental insurance.
A FUNDAMENTAL SHIFT IS UNDER WAY in the field of commercial real estate lending, a marked movement by financial institutions toward environmental insurance policies and away from Phase I site assessment reports. In fact, major lenders have moved so quickly to change their standard operating procedures that industry experts see environmental insurance soon becoming as common as lenders' title insurance for commercial real estate tran...
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