Category: Financial & Reserves

Categories: Board Duties, Federal Law & Regulations, Financial & Reserves, General Tags: Fannie Mae, Freddie Mac, Reserves

By Richard S. Ekimoto, Esq. On March 18, 2026, Fannie Mae and Freddie Mac announced changes to their lending guidelines in Lender Letter LL-2026-03. There are a number of changes announced in the Lender Letter, some of which will be discussed in later posts. This post focuses on the changes to the reserve requirements for condominium projects. The Fannie Mae and Freddie Mac changes to their reserve requirements for condominium associations includes: Hawaii condominium associations [Read More...]

Categories: Communications, Community Association Management, Financial & Reserves, General, Hawaii Community Association Statutes, Meetings Tags: Certified Public Accountants, Condominium audits, CPA

By John A. Morris, Esq. Under Hawaii Revised Statutes Section 514B-150, all condominium associations with 20 or more units must annually have an audit and an unannounced cash balance verification.  Condominium associations with fewer than 20 units may waive those requirements by a majority vote at a meeting.  Subject to certain exceptions, an association must make a copy of the audit available to all owners and must provide a copy to those owners who request [Read More...]