Bill
SCR 186
REQUESTING THE FEDERAL HOUSING FINANCE AGENCY TO DIRECT FANNIE MAE AND FREDDIE MAC TO REPEAL OR REDUCE THE MINIMUM INSURANCE REQUIREMENTS IN GUIDE SECTION 4703.2, REQUIRING CONDOMINIUM MASTER INSURANCE POLICY COVERAGE FOR ALL PERILS IN AN AMOUNT EQUAL TO ONE HUNDRED PERCENT OF THE REPLACEMENT COST VALUE OF THE PROJECT'S IMPROVEMENTS.
2025 Regular Session
Introduced by Brenton Awa and 1 co-sponsor
Hawaii urges federal mortgage agencies to lower mandatory condominium building insurance from 100% replacement cost, reducing homeowner fees but increasing financial risk exposure.
Referred to EIG, CPN.