Secret mortgage blacklist wreaking havoc on condo owners
A secret mortgage blacklist is leaving thousands of condo owners unable to sell their homes. The list is compiled by mortgage underwriters Fannie Mae and has been expanded dramatically in response to the Surfside Condo collapse in South Florida in 2021. , which killed 98 people. The tragedy exposed widespread issues with underinsured buildings and overdue repairs — not just in Florida, but across the US. If a building crops up on the list it can be hard for a potential buyer to get a Fannie Mae-backed mortgage to purchase a condo there.
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