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EDR and ExactBid Increase Access to Environmental Risk Data Via Partnership

Posted on: Tuesday, 24 March 2009, 09:35 CDT

MILFORD, Conn., March 24 /PRNewswire/ -- Environmental Data Resources, Inc. (EDR), and ExactBid, Inc., announced an agreement today that enables EDR's environmental risk data and solutions to be provided through ExactBid's Real-estate Information Management System (RIMS). RIMS enables lending institutions and others to manage real estate appraisals, environmental studies and construction inspections. EDR and ExactBid's partnership will provide users direct access to EDR's environmental risk management reports, including EDR LoanCheck Plus, within the RIMS web-based solution.

"We are very pleased to be working with EDR, the leader in environmental risk management information, to help our lender clients better manage their appraisal and environmental due diligence workflow," said Ed Jones, president of ExactBid. "This partnership will create additional efficiencies for our existing and future clients."

EDR's comprehensive search of environmental records reveals current and historic environmental issues affecting properties, such as leaking underground tanks, hazardous-waste spills, and Superfund sites. Understanding the environmental status of any property helps lenders avoid unexpected risk, reduce default rate and comply with regulatory requirements.

"Over the long term, and in particular during this business climate, the trend is toward more prudent risk management," said Derek Ezovski, managing director of EDR. "While lenders continue to work with environmental firms to conduct due diligence studies for large deals and those with obvious environmental concerns, many of them conduct their own environmental due diligence that they apply to smaller deals. EDR's partnership with RIMS will increase efficiency for lenders who use EDR data as well as the RIMS management platform as part of their property due diligence workflow."

Several lending institutions have already begun taking advantage of the collaboration between EDR and ExactBid. "Ordering and uploading of EDR Reports within the RIMS environment has allowed us to obtain and review a comprehensive set of due diligence data for low-risk/lower-dollar loans," said Stephen Richardson, vice president of environmental risk management at TD Bank, NA. "As we place increasing reliance on electronically provided data searches, the availability of various EDR provided reports within a universally accessible RIMS file will provide greater efficiencies in our environmental risk management process. Effective due diligence is always a priority, and having easier, organized access to the information we need is a big advantage and time saver."

About EDR:

Environmental Data Resources, Inc. is the leading provider of environmental risk information services and related workflow applications in the United States. As the innovator of the most comprehensive database of environmental and historical land use information, the company provides reports, subscription services and other solutions to help its customers assess and manage environmental risk. EDR customers include commercial and residential real estate professionals, environmental consultants, lenders, corporations, attorneys and government agencies. Established in 1991, EDR is headquartered in Milford, Connecticut with regional offices located throughout the United States. EDR is wholly owned by DMG Information Inc., the business information division of Daily Mail and General Trust, plc (DMGT). For more information, visit http://edrnet.com/.

About ExactBid:

Incorporated in 2000, ExactBid provides Web-enabled procurement and workflow management systems for the real estate due-diligence industry. The company's flagship product is RIMS(TM), is a comprehensive appraisal/environmental ordering and tracking system designed for lenders to manage their due-diligence workflow. To learn more, visit http://www.exactbid.com or http://www.rimscentral.com.

ExactBid and RIMS are trademarks and or service marks of ExactBid, Inc. All rights reserved.

Media please contact: Mike Belden 800-352-0050 ext. 317 | mbelden@edrnet.com

SOURCE Environmental Data Resources, Inc.

Source: PR Newswire

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