Condo Blacklist

Two law firms announced they obtained copies of Fannie Mae’s secret “Condo Blacklist” and are making the information public. The blacklist, formally known as Fannie Mae’s “Condo Unavailable Projects and Phases Report,” is a confidential database of buildings that the GSE won’t back loans for, largely due to maintenance or financial issues. It has been maintained by Fannie Mae for at least two years. Rumors have long swirled that the list existed, but it was previously only available to lenders. Because of this secrecy, condo owners and applicants who were rejected for traditional conforming loans or refinances were often not given a reason why. “I’m a little surprised how a quasi-governmental agency is not completely transparent. They really should be,”…