How It Works

The Step-by-Step Velocity Track

Step 1

The 90-Second Quote

Complete a brief online application with loan details. Receive an exact premium quote in under 90 seconds. Review pricing instantly and save your progress or submit for review.

Step 2

The VERAcheck Review

Our expert engine performs a deep-dive desktop property review. Within 72 hours, the completed report is delivered to the lender (and the borrower upon request).

Step 3

Bind at Funding

When the loan is ready to fund, log in and bind coverage effective for the loan date. The insurance policy is delivered electronically shortly after.

Step 4

Automated Billing

No upfront out-of-pocket costs for the lender. Premiums are structured as pass-through closing costs. The lender receives one consolidated invoice the following month for all prior month activity.

DISCOVERY + DEFAULT = REMAINING LOAN BALANCE

When a qualifying pollution condition is discovered at the covered property and the borrower experiences a financial default that entitles the lender to commence foreclosure proceedings, the lender receives the remaining loan balance plus all accrued and unpaid interest — within 60 days.

10% Deductible Applies

Paid Within 60 Days

Loan Assignment Required

No Cleanup Timeline

No Adjuster Disputes

Exit Before Foreclosure

LP3 allows lenders to recover the loan balance and walk away prior to foreclosure — preserving the Secured Creditor Exemption under CERCLA.

Immediate Liquidity

Unlike cleanup-based policies that pay over years, LP3 pays within 60 days — restoring capital so you can redeploy it immediately.

Loan Assignment

Upon payment, the lender assigns the mortgage agreement to Lendiligence. We reimburse documented Costs to Collect up to $10,000.

A Win-Win for Lenders and Borrowers

Faster Closings. Lower Costs. Clearer Insights.

The LP3 Program delivers immediate value to the borrower by replacing the slow, expensive traditional due diligence process with a streamlined alternative. By bypassing the typical 6-to-8-week delay of a Phase I ESA, borrowers benefit from an accelerated path to closing, which is critical for time-sensitive acquisitions or refinances. Furthermore, the LP3 solution is significantly more cost-effective, reducing the upfront financial burden at the closing table. Despite these savings in time and money, the borrower still receives a high-caliber VERAcheck desktop review that provides the essential property insights and historical/regulatory data typically found in a Phase I, ensuring they remain informed about their asset's standing without the traditional overhead.

Process Overview: The LP3 Timeline

Phase

Timeframe

Outcome

Application

90 Seconds

Exact Premium Quote

Underwriting

2-3 Business Days

VERAcheck Report Delivery

Binding

Real-Time

Electronic Policy Issuance

Billing

Monthly

Consolidated Lender Invoice

Getting to a Bound Policy in 2-3 Days

‍Create Your Lender Account

Takes less than 10 minutes to set up

Submit a Loan Application

Loans up to $10m - Eligible property types only

VERAcheck™ Desktop Study is Ordered

Delivers 80-90% of the information in a Phase I ESA

Desktop Study Delivered in 2–3 Days

Copy provided to lender and borrower at no additional cost

Policy is Bound & Issued

Policy term matches the loan term - Up to 10 years