Is your Condo on the Fannie Mae Blacklist?
Fannie Mae, which is under the conservatorship of the Federal Housing Finance Agency (FHFA) has developed a secret Blacklist of condominiums, HOA’s and Co-Op’s which are ineligible for “conventional financing”, i.e. loans that can be sold on the secondary market. It will be difficult for owners in these Blacklisted condominiums to either sell or refinance their units.
Allcock & Marcus has obtained a copy of Fannie Mae’s Blacklist. As of May 5, 2023. The Blacklist identifies about 1,700 condominiums or HOAs by name, state, date of ineligibility and the reason for ineligibility. We understand the Blacklist is updated regularly and we are endeavoring to obtain updates to the list as they occur.
If you are living in a condominium, are on the board of a condo, manage a condominium or are interested in buying a condominium you will want to know if you are on the list and if there is action that you may be able to take to get off the list.
To find out if your condominium is on the Fannie Mae Blacklist, please fill out the below form.
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