'Perfect storm.' Hundreds of 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.

The number of local condos on the list, which is maintained by federally chartered mortgage finance corporation Fannie Mae, has more than doubled in the past two years, according to new data released by a law firm that has been tracking it.

The total number of condo buildings on the confidential database in Miami-Dade, Broward and Palm Beach counties sits at 696 as of March, the data from Allcock Marcus, which obtained it from a confidential source, shows. That’s nearly half the 1,438 condo buildings that Fannie Mae lists as ineligible for its backing in all of Florida.

Owners in those buildings, which typically end up on the list because of financial, insurance or critical maintenance issues, will find it nearly impossible to sell to buyers seeking conventional mortgage financing. Owners and associations whose condos are on the list also have a harder time getting loans approved for repairs, said Jake Marcus, a Miami attorney for Allcock Marcus.

https://www.tampabay.com/news/florida/2025/04/12/condo-blacklist-south-florida/

Ruh roh...Looks like more than a few current Florida condo owners just might remain condo owners forever...