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Modernized Lending Standards: New Fannie Mae Requirements in the Wake of the Champlain Towers Tragedy (CO)

/ Owner - October 15, 2023

Following the tragic collapse of the Champlain Towers South in Surfside, Florida, Fannie Mae took a significant step to modernize lending requirements. These new requirements place a greater emphasis on the property condition and the strength of the community’s reserves. In response to growing concerns about aging infrastructure and extensive deferred maintenance in certain buildings, Fannie Mae introduced a series of measures that will have a profound impact on the condominium market.   Read the article……………………………….

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