Categories: Community Association Management, Financial & Reserves, Insurance, Repair and Maintenance Tags: Fannie Mae, Freddie Mac, Reserves
By Richard S. Ekimoto, Esq. A few weeks ago, we posted about Fannie Mae & Freddie Mac Changes in its Reserve Requirements for Condominium Associations. Fannie Mae and Freddie Mac also made some other changes related to insurance requirements for condominium projects. These changes include: Deductibles for the Master Insurance Policy Fannie Mae and Freddie Mac has established a limit for the deductible on the Association’s Master Policy. The “maximum allowable per unit deductible for [Read More...]
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 and Freddie Mac Bulletin 2026-C. 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 [Read More...]
Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
By Richard S. Ekimoto, Esq. On Friday, March 21, 2025, FinCen issued a press release on an interim final rule Removing United States Companies and Persons from the BOI Reporting Requirements. The Final Interim Rule and Explanation is posted here. The stated basis of the Interim Final Rule is: FinCEN has determined that an interim final rule is the appropriate mechanism to exemptdomestic reporting companies and United States Persons who are beneficial owners of foreign [Read More...]
Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
By Richard S. Ekimoto, Esq. Yesterday, the U. S. Treasury Department issues a press release stating that it will not enforce the BOI Reporting Requirements against U.S. citizens and domestic reporting companies. The press release states, “not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting [Read More...]
Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
By Richard S. Ekimoto, Esq. Today, FinCen posted a news release that it will not issue any fines or other penalties for any entity that does not file a BOI Report until new interim rules are adopted. Before March 21, 2025, FinCen intends to issue interim rules that will extend the deadline for filing BOI Reports. In addition, FinCen intends to solicit public comment on potential revisions to existing BOI Reporting requirements. Those comments will [Read More...]
Main Menu
