Is My Condo on the Fannie Mae List?
The report that decides whether your building can be financed is sent to lenders and withheld from owners. There is still a way to find out where you stand.
You cannot look up your own building. Fannie Mae's ineligible project report — the Condo Unavailable Projects and Phases Report — is distributed to lenders, who have been instructed not to share it. But a licensed loan originator can check your project's status directly through Condo Project Manager, and that takes a phone call, not a public records request.
Effective August 3, 2026
Fannie Mae is retiring Limited Review and Freddie Mac is retiring Streamlined Review. For loan applications dated on or after August 3, 2026, affected established projects generally require a Full Review unless they qualify for a waiver — a deeper look at the association's budget, reserves, insurance and financial condition. Expect more Florida projects to be examined, and more to fail.
It is the most asked and least answered question in Florida real estate right now, and the reason it goes unanswered is structural: the document that determines whether your unit can be sold to a financed buyer is confidential, and you are not on the distribution list. Here is what the report actually is, why Florida buildings land on it, and the four ways an owner can find out where their building stands anyway.
The report, plainly
Fannie Mae will not purchase or securitize a mortgage secured by a unit in a project that fails its eligibility standards. Loans on units showing an "Unavailable" status in Condo Project Manager are ineligible for purchase by Fannie Mae — which, in practice, means most lenders won't write them.
The report is not published. Reporting on the database has noted that it circulates to lenders under instructions not to distribute it further. Fannie Mae and Freddie Mac have indicated they intend to give condo owners and associations a way to check eligibility status directly, but for now most owners have no direct access.
Florida is heavily overrepresented. Data obtained by the law firm Allcock Marcus and reported in spring 2025 put Florida at 1,438 ineligible buildings, with 696 — nearly half — in Miami-Dade, Broward and Palm Beach counties, roughly double the South Florida figure two years earlier. Because the database is confidential and updated continuously, treat those as a point-in-time snapshot rather than a live count.
How to check your building
Best first. Route one gets you a definitive answer; the rest get you closer.
Ask a licensed loan originator to run the project
This is the fastest and most reliable path. Originators have access to Condo Project Manager and can tell you the project's current status. There's no cost to ask, and you get a real answer rather than an inference.
Request your association's records
As of January 1, 2026, Florida condominium associations with 25 or more units must provide owners access to governing documents, budgets and reserve studies through a dedicated website or app. Owners are entitled to view completed milestone inspection and structural integrity reserve study reports within 30 days of completion. These records won't state your list status directly, but they show the underlying conditions that put buildings there.
Read the signals in your own building
You can often infer the answer. If units in your building are only closing to cash buyers, if contracts keep collapsing at underwriting, or if listings sit far longer than comparable buildings nearby, the project is very likely failing review.
Ask the board — then verify it
Worth doing, with a caveat. Boards frequently don't know. The report doesn't go to associations either, so a board can tell you in complete good faith that everything is fine while the building is flagged.
A board can tell you in complete good faith that everything is fine, and be wrong. The report doesn't go to them either.
What lands a Florida building on it
| Trigger | The actual threshold |
|---|---|
| Critical repairs outstanding | Known structural deterioration or unfinished required repairs |
| Insufficient reserves | Below 10% of annual budgeted income; rises to 15% for applications dated on or after Jan 4, 2027 |
| Milestone / SIRS non-compliance | Required Florida inspections or reserve studies not completed |
| Litigation | Especially construction defect and structural claims |
| Insurance shortfalls | Replacement cost required; per-unit deductible capped at $50,000 effective July 1, 2026 |
| Assessment delinquencies | 15% or more of units 60+ days behind |
| Single-entity ownership | One entity owning more than 20% of units in a 21+ unit project |
| Commercial space | More than 35% of the project allocated to commercial or mixed use |
| Evacuation or unsafe-building order | Immediate disqualifier |
None of these are about the buyer. That's the whole point — a flagged project denies financing to every qualified buyer equally.
One item no longer on the list
The 50% investor-concentration cap was retired effective March 18, 2026. A building with a high share of tenant-occupied units is not, on that basis alone, a Fannie Mae disqualifier anymore. Much of the guidance still circulating online has not caught up, so it is worth checking rather than assuming.
What then?
It is not the end of the road, and it is not permanent. Project status can change once the underlying issue is documented as resolved — though the process is labor-intensive for the association.
Your options open
- Selling: market to cash and non-agency buyers from day one instead of losing contracts one at a time
- Buying: portfolio, non-QM, DSCR and bank statement programs don't require agency project approval
- Staying: if the issue is fixable, restoring eligibility supports value for every owner in the building
Your options narrow
- Refinancing: project status affects refinances too, not just purchases
- Pricing: a smaller financeable buyer pool means more price pressure
- Timing: inspection and reserve deadlines keep running regardless of your plans
Common mistakes
- Assuming silence means eligibility. No news isn't good news when the report never goes to you in the first place.
- Taking the board's word without verifying. Not a trust issue — an information-access issue.
- Waiting for the public lookup tool. The agencies have signaled one is coming. Your transaction is happening now.
- Reading guidance without checking its date. Several condo lending rules changed during 2026 and much of what's published still states the old versions.
- Treating a flag as a verdict on safety. It is a financing classification. Well-maintained buildings land on it over paperwork.
- The report exists, it's confidential, and owners aren't on the distribution list.
- A licensed loan originator can check your project's status in a phone call.
- Florida is heavily overrepresented — 1,438 buildings as of spring 2025 reporting.
- Your board probably doesn't know either, and isn't hiding it.
- Status is not permanent; it changes when the underlying issue is resolved.
- Being flagged is about financing eligibility, not structural safety.
- From August 3, 2026, more projects face Full Review.
Can I search the list myself online?
No. It isn't published for consumers. Access runs through lenders, though the agencies have signaled plans to give owners and associations a way to check.
Does being on the list mean my building is unsafe?
No. It's a financing eligibility classification. Buildings land there for paperwork, insurance, litigation and financial reasons that have nothing to do with structural safety.
Will my property taxes or insurance change because of it?
Not directly. The effect shows up in marketability and sale price, because fewer buyers can obtain financing.
How often does the report update?
Status is maintained on an ongoing basis and can change, which is why it should be verified at the time of a transaction rather than assumed from an earlier check.
Should I tell buyers if my building is flagged?
Talk to your attorney about disclosure obligations. Practically, buyers' lenders find out during underwriting regardless — the only question is whether that happens on day 2 or day 15.
From the desk of Ray Nadeau
"Owners call me convinced something is wrong with their unit. Nine times out of ten there's nothing wrong with the unit at all. The building's paperwork is what's failing, and the only reason it feels mysterious is that nobody involved is allowed to show you the document that says so."
Ray Nadeau · Licensed Florida Broker BK3344407 · Mortgage Loan Originator NMLS #1027617A project status check is not a commitment to lend and does not guarantee financing availability.
Why Seminole County owners should check too
The headline numbers come from South Florida, and it's easy for a Central Florida owner to assume this is somebody else's problem. It isn't. The triggers that put a building on the report — reserve funding, unfinished structural repairs, master policy terms, delinquent assessments — have nothing to do with being near the ocean.
Seminole County has a substantial inventory of 1970s and 1980s mid-rise condominium buildings through Altamonte Springs, Casselberry, Winter Park and the Longwood corridor. Those buildings are inside the milestone inspection threshold and many are funding structural reserves for the first time. That combination is precisely what produces a flag.
If you own in one of them and you're thinking about selling in the next year, checking the project's status is the cheapest thing on your entire to-do list.
- Fannie Mae Selling Guide B4-2.1-03, Ineligible Projects
- Fannie Mae Condo Project Manager FAQs
- Fannie Mae Lender Letter LL-2026-03; Freddie Mac Bulletin 2026-C
- Florida Statute 553.899 (milestone inspections)
- Florida Statute 718.112(2)(g) (SIRS components)
- Florida HB 1021 (association records access, effective January 1, 2026)
- Allcock Marcus data on Florida ineligible projects, reported spring 2025
Agency guidelines carry effective dates and change. Verify current requirements with a licensed loan originator before relying on any figure here.
Have Us Check Your Building
Call or text the building name and street address. A licensed mortgage loan originator will check the project's current status and tell you what it means. No cost, no obligation.
Project checks performed by Smart-N-Loans · Ray Nadeau NMLS #1027617 · Kelly Nadeau NMLS #1027618
A status check is not a commitment to lend and does not guarantee financing availability.
This article is general information and is not legal, tax or financial advice. Descriptions of Fannie Mae and Freddie Mac project eligibility standards, Florida condominium statutes and inspection requirements are provided for general educational purposes and are current as of the updated date shown; requirements change and are administered by the respective agencies and authorities. Market data approximate.
Project status checks are performed by a licensed mortgage loan originator and reflect information available at the time of the check. A status check is not a commitment to lend. All loans subject to credit approval, program availability, and property and project eligibility. Not all applicants will qualify. Kelly Nadeau NMLS #1027618 · Ray Nadeau NMLS #1027617 · Equity Smart Home Loans CA NMLS #856170 · nmlsconsumeraccess.org · Equal Housing Opportunity.
Kelly and Ray Nadeau are licensed Florida real estate professionals.