What the list is, and is not
It is not a published list. Fannie Mae does not release it, and the only people who can check a project's status are lenders using the system. What has been reported comes from people with access: in March 2025 the Wall Street Journal reported 5,175 projects flagged nationally, and a Florida law firm's analysis of the same period, reported by the Miami Herald and others, counted 1,438 in Florida — 696 of them in Miami-Dade, Broward and Palm Beach counties. No newer public count has been released.
Freddie Mac has its own equivalent — a "Not Eligible" status in its Condo Project Advisor tool, added in February 2024.
Why so many Florida buildings are on it
Florida's post-Surfside laws require milestone inspections of older mid- and high-rise buildings and structural reserve studies with real funding behind them. Those inspections surfaced repairs that had been deferred for years, and the funding requirement turned them into assessments. Meanwhile Fannie Mae's rules treat unfinished critical repairs, failed mandatory inspections and large unfunded repair bills as ineligible. The laws did not create the problems; they made them visible, and the agencies responded to what became visible. Insurance compounds it: coverage that is too thin, or deductibles that are too high, is the single most-cited reason Florida buildings fail review.
How buyers finance a unit in a flagged building
Through a lender that does its own project review. The first question that lender asks is the same one that matters for the building's future: why it was flagged.
- Flagged for an operating trait — a rental program, commercial space, ownership concentration — and many portfolio programs will proceed.
- Flagged for litigation — it depends on what the suit is about.
- Flagged for repairs — the answer depends on whether the work is funded, contracted and underway, or still a line in an engineer's report. Unstarted safety repairs are where most lenders stop.
How a building gets off the list
The association resolves the problem and documents it — completed repairs with an engineer's letter, a settled or dismissed lawsuit, corrected insurance — and a lender or the association submits that documentation for review. It happens, but on the association's timeline, which is why owners often finance with a portfolio loan now and refinance into a conventional loan later. The refinance page covers that sequence.
If you are selling a unit in a flagged building
Your buyer pool shrinks to cash buyers and buyers whose lender does its own review. Making sure buyers know that second group exists — before they are declined — is most of the job. The sellers' page is written for you and your agent.
Sources, checked September 2026: Fannie Mae Selling Guide B4-2.1-03, Ineligible Projects · National Mortgage News, March 2025 · Newsweek, April 2025 · Freddie Mac, February 2024. Agency guides change; a lender confirms the rules in force on your application date.
Common questions
How do I find out if my condo is on Fannie Mae's list?
Ask a loan officer to check the project in Fannie Mae's Condo Project Manager. The list is not public.
Can I get a mortgage on a condo on the Fannie Mae blacklist?
Not a conventional one. A portfolio or non-QM lender can often finance it, depending on why the building was flagged.
How long do buildings stay on the list?
Until the association resolves and documents the problem. That can be months or years, depending on the repair or dispute.
Does being on the list mean the building is unsafe?
Not by itself. Buildings are flagged for insurance, litigation and deferred maintenance as well as structural issues. The reason matters more than the status.