ORMS – Due Diligence. Done Simply. Done Right.

Well, I know the rule with blogs are they should not be used to talk about your company (and they won't typically in the future) but I seem remiss by not at least commenting on Outsourced Risk Management Solutions LLC (ORMS) and what we are hoping to do for our clients. As you can see from our tagline [Due Diligence. Done Simply. Done Right.], ORMS is focused on helping with Due Diligence issues on commercial real estate. We have focused our initial efforts primarily on Community and Regional Banks because they were the entities that have indicated the greatest need for our help. Most of our efforts are dedicated to environmental due diligence at this time, but we are able to help with a variety of issues including procuring information, property condition assessments and appraisals and other property due diligence needs.

So I thought it might make sense to break down the tagline to better describe ORMS:

Due Diligence.

Now more than ever, commercial real estate is under tremendous scrutiny by investors and regulators. In fact, in two recent surveys, over 65% of lenders noted being asked about their environmental policy in their annual exam.  In addition, in meetings with lenders throughout the country, they are also indicating more scrutiny on CRE.  This is an indication that regulators are more focused on real estate policies and due diligence than in the past.

ORMS was founded to work on behalf of lenders to help them manage this exact issue. While it is clearly a niche area in the lending world, lenders acknowledge that there are too many vested interests and too much uncertainty in the current models. Most community and regional banks don’t have expertise on staff (nor do they want to hire it).

Done Simply.

With a simple click of the mouse or phone call, the due diligence process can be taken off of you or your staffs’ plates and be handled by industry veterans, all the while keeping your organization's risk tolerance in mind. Studies have shown that it can take 2.5 hours or more per transaction for a loan officer to deal with the environmental due diligence process in the “typical” way. ORMS’ web-based system simplifies the ordering, the deliverable and the management of your property due diligence programs and reports. In short, ORMS simplifies the whole process for you.

Done Right.

The founder of ORMS has over 20 years of practical experience in the due diligence field. This includes leadership positions held at Fleet Bank, Environmental Data Resources, Marsh USA, and Travelers Insurance, all in a risk management capacity. In fact, while at Fleet, the entire environmental due diligence policy for our small business services group was rebuilt to include environmental screening tools, environmental insurance, and new risk thresholds all based on research and experience within banks. In addition, while at EDR, Derek Ezovski managed the Lender Services and Environmental Consultant divisions and helped to build and oversee the implementation of over 700 subscriptions to a new, innovative product that allowed banks to screen properties for environmental issues.  However, we were not able to integrate with the lenders and provide true business consulting services, which is what ORMS can do for our clients.

Please keep posted to our blog...it will try to keep everyone updated on the CRE and lending world in a unique and informative way.