A once-quiet, confidential list maintained by the federally chartered mortgage giant Fannie Mae has ballooned, placing hundreds of South Florida condominium buildings in a precarious position: unable to secure conventional mortgage financing or even loans for critical repairs.
A Swiftly Growing “Ineligible” List
Newly released figures from the law firm Allcock Marcus reveal that 696 condo buildings in Miami-Dade, Broward, and Palm Beach counties now appear on Fannie Mae’s internal ineligible list—sometimes referred to as a “blacklist” by industry watchers. That’s nearly half of the 1,438 Florida condos flagged statewide. According to Miami attorney Jake Marcus of Allcock Marcus, this marks more than a doubling in the last two years alone.…