Category: Condominiums
LAI MEETING – APRIL 19, 2023 CHALLENGES AND DEVELOPMENT OPPORTUNITIES FOR MD CONDOS USING HIGHFIELD HOUSE AS CASE STUDY
On June 24, 2021 the 12-story, 136 unit, Champlain Towers South condominium in the Miami, FL suburb of Surfside collapsed. The collapse took only 12 seconds, killed nearly 100 people, and was among the worst structural failures in US history. Factors being investigated as causes for the collapse: long-term degradation of reinforced concrete structural support in the…
New FNMA/FHLMC Requirements Set National Standard For Condominium Maintenance
The Federal National Mortgage Association, commonly known as Fannie Mae (FNMA), and The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac (FHLMC), are publicly traded, government-sponsored entities (GSEs) that purchase mortgage loans from banks and mortgage banking companies. GSEs package these loans into mortgage back securities that are sold to investors. This process…