How to finance blacklisted Fannie Mae condos

Hundreds of South Florida condos now on secret mortgage blacklist

A secretive quasi-governmental condo blacklist is growing exponentially, making it difficult for owners in scores of troubled buildings in Miami and South Florida to sell or get loans for repairs even as their associations face a fiscal and time crunch to meet stringent new state safety regulations, according to a report in the Miami Herald. The number of local condos on the list, which is maintained by federally chartered mortgage finance corpo…

How to finance blacklisted Fannie Mae condos

Fannie Mae tightened the screws on every condo association in America after the 2021 Chaplain Towers collapse in Surfside, Florida, where 98 lives were tragically lost. Financial and operational standards must be met, or the association is blacklisted. That’s budgeting, financial reserves, acceptable property maintenance and the like. In industry parlance, these blacklisted associations are known as non-warrantable condos, with 300 to 400 associ…