Source: Racket News
by Eric Salzman
“If there was ever a “canary in the coal mine’ moment for the next housing crisis, it’s that mortgage and insurance giant Fannie Mae maintains a secret mortgage blacklist. The Wall Street Journal broke the news on March 17 that Fannie Mae keeps a blacklist that includes condo associations it believes have too little property insurance or need to make critical building repairs. According to the Journal, it’s a list that every major lender pays attention to. In other words, if you’re buying a condo in a building on that list, you’re likely not going to get a loan. However, the insurance ‘canary’ isn’t just about condo buildings. If you think homeowners insurance has already skyrocketed — and it has — hold on because you’re likely about to get screwed even more.” (04/07/25)
https://www.racket.news/p/there-are-signs-of-a-category-5-housing