What your Condo Association Needs to Know About the New Fannie Mae and Freddie Mac Lending Guidelines The Surfside condominium collapse led to significant reform in the condominium lending industry. In Lender Letter LL-2021-14, Fannie Mae and Freddie Mac implemented temporary lending guidelines in
Nearly 2 years after the Surfside collapse, the New York Times recently reported that a 35-unit condominium in North Bay Village, Florida was ordered to be evacuated after an engineer deemed the condominium to be structurally unsound. The engineering report provided to North Bay Village
One of the benefits provided by the VA is the VA home loan guaranty program
Michigan condominium associations are required to keep a number of different types of records. One type of record that condominium associations are required to keep, which is often overlooked, is a record of each mortgage that is placed on any condominium unit in the condominium
Introduction A home loan through the Loan Guaranty program of the Department of Veterans Affairs (“VA”) presents a real opportunity for U.S. veterans to purchase a home when they may otherwise not be able to do so. Benefits to a VA loan include lower interest rates,
The following update comes from Dawn Bauman at CAI's Government Affairs Blog: There are approximately 145,000 to 155,000 condominium projects in the U.S., according to the Foundation for Community Association Research (FCAR). As of October 2016, 9,866 condominiums—less than 7 percent of condominium projects nationwide—were Federal
