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Fannie Mae and Freddie Mac keep a confidential list of condominium and co-op projects they will not finance. Lenders can see it; owners and boards generally learn a project is on it only at closing. We cannot see that list, and this page does not claim to. Instead, it maps the published eligibility factors lenders weigh onto what we can observe about Harbour Watch Condominium Trus from public records, so the board can address them before a buyer's loan stalls.
These are risk factors and remediation steps, not a verdict. A factor marked “worth a look” is one underwriters scrutinize. It is not an accusation, and addressing it is no guarantee of eligibility. Factor catalogue: Fannie Mae Selling Guide B4-2.1 and Lender Letter LL-2021-14, Freddie Mac Guide Chapter 5701, and HUD FHA condominium project-approval rules.
We have an observation for 0 of 6 factors below. That is limited coverage: a factor with no observation is a data gap, not a clean result.
FHAWeighed
No HUD FHA condominium approval record is matched to this association.
What lenders weigh
FHA-insured buyers can only use an FHA loan in a project HUD has approved. An expired, rejected, or absent approval narrows the buyer pool to conventional financing only.
What helps
If the project seeks FHA-eligible buyers, a board or management agent can apply for HUD project approval (HRAP) or use a single-unit approval. Confirm whether a record exists under a different project name.
HUD FHA Condominiums portal (condo project approval list)
Fannie MaeFreddie MacWeighed
SIRS is a Florida statutory requirement; we hold structural-reserve-study records only for Florida associations.
What lenders weigh
Since 2022 the GSEs scrutinize structural integrity and reserve adequacy. A current structural reserve study is the document that answers the deferred-maintenance and reserve-funding questions in project review.
What helps
Outside Florida, lenders still ask for a current reserve study. Keep a recent reserve study and a funded reserve plan on hand for project review.
Florida SB 4-D / SB 154 structural-integrity reserve study records (FL DBPR-linked)
Fannie MaeFreddie MacWeighed
No building-safety recertification record is matched to this association.
What lenders weigh
An overdue or required milestone/40-year recertification reads to underwriters as possible critical repairs or deferred maintenance — a temporary-ineligibility trigger until the recert is complete.
What helps
Confirm whether the building falls under a county recertification or Florida milestone-inspection requirement based on age and height, and keep any completed recertification documentation available for lender project review.
County building-safety recertification programs (Miami-Dade / Broward 40-30-year + FL milestone inspections)
Fannie MaeFreddie MacWeighed
No reserve study has been shared with Common Elements for this association.
What lenders weigh
The GSEs look for a budget that funds at least 10% to reserves or a reserve study supporting a lower amount. Underfunded reserves are a common non-warrantability reason.
What helps
Adopt a current reserve study and a funding plan that meets it. If the board shares the study here, this factor will reflect it. Reserve adequacy is one of the most frequently cited project-eligibility issues.
Common Elements member-shared reserve study (when the board shares one)
Fannie MaeFreddie MacFHAContext
No FEMA flood zone of record is matched to this association.
What lenders weigh
A project in a Special Flood Hazard Area must carry adequate flood insurance on the buildings. A lapse or gap in master flood coverage is a project-eligibility problem, not just a per-unit one.
What helps
Confirm the building's FEMA flood zone and, if it is in a high-risk zone, maintain master flood insurance meeting the replacement-cost requirement.
FEMA National Flood Hazard Layer (flood zone of record)
Fannie MaeFreddie MacHeavily weighed
We cannot observe active special assessments, critical repairs, or litigation from public records.
What lenders weigh
An active special assessment, ongoing critical repairs, or significant litigation is among the heaviest project-ineligibility triggers. Lenders ask about these directly on the project questionnaire.
What helps
Keep board minutes, the current questionnaire answers, and any repair-completion documentation ready. If a special assessment exists, documenting that the underlying repairs are funded and on schedule is what lenders look for.
Not in our public-record data — disclosed by the association on the lender project questionnaire
Common Elements is the always-on industry community for community associations, not a lender, and not management software. This panel is informational and built from public records plus what a board chooses to share. Confirm a project's actual financing eligibility with a lender and the association's own records.
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