MBA Institute joins fight against mold damage.Mortgage Bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo GREENGUARD Environmental Institute has announced a mold mold, name for certain multicellular organisms of the various classes of the kingdom Fungi, characteristically having bodies composed of a cottony mycelium. The colors of molds are caused by the spores, which are borne on the mycelium. risk reduction program that for the first time certifies the design, construction and ongoing operations of newly constructed multi-family and commercial properties. GREENGUARD Mold Protection Program ensures that buildings use industries' best practices for safeguarding against the damage caused by mold. The program fills a void for lenders and building owners that has grown increasingly serious over the last several years. As large court judgments for mold continue to cloud the construction and financing of new buildings, more people are turning to mold prevention measures as a way to manage the financial risk. "We hear so much about the financial costs of mold, including the loss of rent along with the costly clean-ups that result," said Carl Smith, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and executive director of GEI GEI - A German software engineering company. . "Prevention through sound design, building and maintenance practices can help avert risk from all but the most catastrophic instances of water-related damage." "The GREENGUARD Mold Protection Program gives building owners and their lenders and insurers the confidence that appropriate preventive measures have been taken to manage potential losses due to mold damage." The program is based on a compilation of best practices that GEI has developed and proposed as an American National Standards Institute See ANSI. (body, standard) American National Standards Institute - (ANSI) The private, non-profit organisation (501(c)3) responsible for approving US standards in many areas, including computers and communications. ANSI is a member of ISO. standard. The proposed standard has undergone preliminary review by the Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and and was piloted by several building owners. Building consultancies review and assess properties based on the standard; once the process is successfully completed, property owners can apply to GEI for certification under the GREENGUARD Mold Protection Program. Once a property is certified See certification. , it can be promoted to lenders, insurers and prospective tenants. "GREENGUARD's initiative helps to fill an emerging need in the market for developers and lenders alike," explained Bruce C. Gunter, president of Progressive Redevelopment Inc., a developer of affordable multi-family housing based in Atlanta. "Giving lenders more confidence that a builder will take these preventive measures will help to secure financing because it mitigates the project's risk." "Particularly in light of what we are seeing in the southeastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , this is critical." |
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