This year, Festivus arrives on December 23, just as it has every year since entering the public conversation thanks to a 1997 episode of the classic sitcom, Seinfeld.

Did you know that Festivus did not originate on that Seinfeld episode? The holiday dates back to the 1960s, when the father of Seinfeld writer Dan O’Keefe invented the holiday as a response to the growing commercialization of the Christmas season.

O’Keefe’s father (also named Daniel) came up with some creative practices for the family’s celebration, including nailing a clock in a bag to a wall of their family home. Seinfeld introduced some new rituals that have become familiar as the holiday has grown in popularity worldwide, including the Festivus pole, “feats of strength,” and of course, the required “airing of grievances.”

As Frank Costanza (played by the late Jerry Stiller) makes clear in that immortal episode, “I got a lotta problems with you people, and now you’re going to hear about it!” On that note, here are a few environmental risk management oversights worth airing.  

Grievance #1: Not providing prior property reports

ORMS’s business is built on our ability to analyze all available property data to assess any inherent environmental risk or hazards. If we don’t get access to critical pieces of information like prior environmental reports on the subject property, the lack of information could lead to some avoidable surprises down the road.

Access to prior environmental reports allows us to understand a property’s known risks, historical findings, and regulatory status before issuing new conclusions. Earlier Phase I or Phase II Environmental Site Assessments (ESAs) often document past Recognized Environmental Conditions (RECs), sampling results, or remedial actions that may still affect liability, even if conditions appear unchanged. Without this context, lenders might risk incomplete assessments, redundant investigations, or missed environmental obligations.

Grievance #2: Incomplete location info

Sometimes, a simple street address is enough for us to get started on ordering an environmental review. Often, though, we need more detail to conduct proper background research on a property.

That’s why we ask lenders to provide clear, precise property location details that define exactly what land is being evaluated and what risks may affect it. This includes parcel numbers, current and historical site uses, and accurate NAICS codes. Without access to complete and accurate location data, environmental reviews can miss material risks, cause delays in loan approval, or expose lenders to unintended liability. Remember, the information you request and obtain from your borrowers becomes the foundation for the report(s).

Grievance #3: Sending a brief email in lieu of a completed order form

When a lender submits only a brief email request without an environmental order form attached, we run the risk of missing important details which could lead to inaccurate environmental reports as well as delays. We often lack the critical information needed to scope the work correctly and proceed immediately. Missing details—such as property boundaries, transaction type, reliance needs, or prior reports—lead to unnecessary follow-up questions, revised proposals, and internal re-reviews, all of which can delay kickoff. For time-sensitive transactions, even the smallest administrative oversights can quickly turn into a closing delay, so we advise working with your borrowers to obtain as much information as possible from the onset.

Grievance #4: Random errors in order submission

Errors or missing details in an environmental due diligence order can undermine the quality and reliability of the assessment. In those (hopefully infrequent) situations when consultants make assumptions about property boundaries, transaction structure, or reliance needs due to a lack of information on the front end, the resulting conclusions may be incomplete, overly conservative, or misaligned with lender requirements. In the worst cases, incomplete or inaccurate information upfront can lead to missed risks, unnecessary follow-up work, or reports that cannot be relied upon for credit or regulatory purposes.

Grievance #5: Those pesky Phase II recommendations!

OK, now it’s only fair if we share one of the most common “grievances” we receive from lenders. No one wants to hear that the Phase I ESA has unearthed some potential environmental contamination, with the most common next step being a more-involved Phase II ESA.

A Phase II is warranted when a Phase I identifies a REC suggesting the possible presence of hazardous substances or petroleum contamination. Common triggers include historical high-risk uses, known releases, regulatory listings, or visible evidence of contamination that ultimately requires sampling to confirm whether impacts exist. For lenders and consultants alike, Phase II investigations provide the data needed to quantify risk, support credit decisions, and determine whether remediation, monitoring, or risk mitigation is required.

A Phase II adds time and expense to any CRE deal, and it can be very inconvenient for sellers, buyers, and lenders. The last thing anyone wants to hear is that a deal is potentially at risk or delayed due to a risk management issue. But it’s the nature of the game, and it’s much better for both you and the borrower to uncover any potential issues before the ink is dry on the closing documents!

A Most Wonderful Time of Year

On a more festive note, I’d like to take a moment to share my appreciation for you—our many clients and partners—for your ongoing loyalty and trust. Without you, we wouldn’t be able to provide the expert outsourced risk management services that we perform day-in and day-out, throughout the year.

As a trusted risk advisor, business partner, and advocate, ORMS helps lenders like you effectively manage your environmental risks, allowing you to focus on what you do best: serve your borrowers.  To that end, we like to maintain an open line of communication throughout the course of a deal, and we welcome your input and feedback post-engagement so we can continue to enhance our services to meet your evolving needs.

From all of us at ORMS, we wish you and yours a joyous and peaceful holiday season. We look forward to continuing the great work we do together in 2026!