Donegal Dollop
  • News
  • Business
  • Health
  • Tech
  • Fashion
  • Travel
No Result
View All Result
  • News
  • Business
  • Health
  • Tech
  • Fashion
  • Travel
No Result
View All Result
Donegal Dollop
No Result
View All Result
Home Home Improvements

Surfside Condominium Tragedy Results In Stricter Fannie Mae And Freddie Mac Requirements

Donegal Dollop by Donegal Dollop
in Home Improvements
0
Surfside Condominium Tragedy Results In Stricter Fannie Mae And Freddie Mac Requirements
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

The Champlain Towers South in Surfside, Florida, partly collapsed on June 24, 2021, leaving 98 casualties and many more homeless. Investigations revealed that design flaws, substandard construction, and a lack of proper and routine structure maintenance contributed to the disaster.

Having a structural engineer NJ could prevent these kinds of accidents from happening. Structural engineers are trained to designstructures that canwithstand stresses and pressures caused by human activity and environmental factors. They also select suitable building materialsthat will support the building. In addition, structural engineer New Jersey inspects the construction process and verifies the structural integrity of buildings and structures.

Notably, the Surfsidedisaster made mortgage industry giants apprehensive of loans secured by assets with serious safety concerns. This also caused small lending companies to become more conservative. Fannie Mae and Freddie Mac, players in the secondary mortgage market, took action to maintain confidence in the system. They introduced new mortgage requirements to loans tied to condominiums and cooperative projects. These recommendations are intended to protect the system from similar incidents and raise the bar for mortgaged properties.

The Federal National Mortgage Association (FNMA – “Fannie Mae”) and the Federal Home Loan Mortgage Corporation (FHLMC – “Freddie Mac”) are government-sponsored enterprises that contribute significantly to the affordability and availability of mortgages. They sell mortgage-backed securities to investors. And as middlemen between private lenders and security investors, they constitute a portion of the secondary mortgage market.

Banks use the funds they get from the federal mortgage agency to issuefurther loans to borrowers. Fannie Mae and Freddie Mac use the proceeds from the sale of securities to acquire new loans, perpetuating the cycle. Meanwhile, purchasers of securities profit from reduced investment risk.

Fannie Mae and Freddie Mac also establish the criteria for loans and mortgages. These companies do not interact directly with consumers. However, they create criteria for lenders that influence the borrowing terms of customers. Their requirements protect the industry and its participants from high-risk mortgages.

Continue reading on this topic with the infographic below from Lockatong Engineering. It discusses the surfside condominium tragedy, which results in stricter Fannie Mae and Freddie Mac requirements.

<p style=”text-align: center;”><a href=”https://www.lockatong.com/surfside-condominium-tragedy-results-in-stricter-fannie-mae-and-freddie-mac-requirements”><img class=”alignnone” src=”https://www.lockatong.com/wp-content/uploads/2022/03/Surfside-Condominium-Tragedy-Results-in-Stricter-Fannie-Mae-and-Freddie-Mac-Requirements-01.png” alt=”consultation of the Miami Herald” width=”800″ height=”8155″ /></a></p>

Donegal Dollop

Donegal Dollop

Related Posts

4 Notable Reasons a Building Needs a Property Developer in Singapore
Home Improvements

4 Notable Reasons a Building Needs a Property Developer in Singapore

May 24, 2023
4 Crucial Factors To Consider When Choosing Serviced Apartments In Singapore
Home Improvements

4 Crucial Factors To Consider When Choosing Serviced Apartments In Singapore

January 11, 2023
4 Things to Consider When Installing Residential Solar Panel
Home Improvements

4 Things to Consider When Installing Residential Solar Panel

November 3, 2022
Next Post
Questions to Ask Yourself and a Divorce Lawyer in Singapore

Questions to Ask Yourself and a Divorce Lawyer in Singapore

Helping Hand: 12 Most Recommended Hand Surgery Recovery Tips in Singapore

Helping Hand: 12 Most Recommended Hand Surgery Recovery Tips in Singapore

Benefits Of Living In An Apartment

Benefits Of Living In An Apartment

Please login to join discussion

Follow Us

  • 87.1k Followers

Recommended

How to Save on Entertainment Costs

How to Save on Entertainment Costs

4 years ago
How To Take Good Care Of A Banker Safe?

How To Take Good Care Of A Banker Safe?

6 months ago
Have fun at an adult trampoline park

Have fun at an adult trampoline park

3 years ago
Benefits of Coworking Spaces

The Benefits of Coworking Spaces

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Auto
  • Business
  • Donegaldollop
  • Fashion
  • Finance
  • Food
  • Health
  • Home Improvements
  • Law
  • Love
  • Pet
  • Tech
  • Travel
  • Wedding
  • World

Topics

aha videos Benefits of Coworking Spaces Best Video Production Services Best web series branded men's hoodies coinbase customer service number divorce in Singapore divorce procedure in Singapore divorce procedures in Singapore Dock Box Buying Guide Flat Roofing Plymouth Michigan Forex trading Free Dating Apps glasses lens replacement Goldman Sachs Brace For Recession Hard Money Loans Heights garage door repair Hunting Day Pack Jacksonville t-shirts lenses in old frames Lifting weights liga95 betting Bandar bola Men's Hoodies Nashville hard money loans offshore company setup in UAE Perks Of Free Dating Apps Pet Grooming Pet Grooming in Bangalore Photographing a Wedding Plymouth Windows Contractor Preventing Slope Failure Repairing garage door roofing Canton MI roofing Contractors in Northville Michigan SEO singapore divorce process sme loan sme loan singapore sme working capital loan Starting to Invest study table online team building activities Tips on Microphone Cables Uncontested Divorce Singapore wholesale jewelry supplies
No Result
View All Result

Highlights

4 Notable Reasons a Building Needs a Property Developer in Singapore

7 Compelling Reasons to Hire Security Services

Make Your Computer Work Faster

Reasons You Should Call an ENT Doctor in Singapore

4 Ways To Get The Most Out Of Your Volunteer Work Experience

How to Establish Limits and Uphold Them?

Trending

A Guide On How To Choose The Right Flooring Supplier In Singapore
Business

A Guide On How To Choose The Right Flooring Supplier In Singapore

by Donegal Dollop
May 24, 2023
0

Choosing the right flooring supplier in Singapore can be daunting, especially when looking for specific materials like...

A Guide to Divorce Cost in Singapore – Navigating Divorce

A Guide to Divorce Cost in Singapore – Navigating Divorce

May 24, 2023
5 Telltale Signs You Need Leadership Coaching In Singapore

5 Telltale Signs You Need Leadership Coaching In Singapore

May 24, 2023
4 Notable Reasons a Building Needs a Property Developer in Singapore

4 Notable Reasons a Building Needs a Property Developer in Singapore

May 24, 2023
7 Compelling Reasons to Hire Security Services

7 Compelling Reasons to Hire Security Services

May 17, 2023

We bring you the news, gossips, etc. Visit our landing page to see all news & Information.

Recent News

  • A Guide On How To Choose The Right Flooring Supplier In Singapore May 24, 2023
  • A Guide to Divorce Cost in Singapore – Navigating Divorce May 24, 2023
  • 5 Telltale Signs You Need Leadership Coaching In Singapore May 24, 2023

Categories

  • Auto
  • Business
  • Donegaldollop
  • Fashion
  • Finance
  • Food
  • Health
  • Home Improvements
  • Law
  • Love
  • Pet
  • Tech
  • Travel
  • Wedding
  • World

© 2022 donegaldollop.com

No Result
View All Result
  • Home
  • Business
  • Travel

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.