Fannie Mae approved condo

[Ketan Parekh]

Hello! Everyone, 

As a novice investor , I have 2 condo's which are rented. And now planning to further expand with buying 2 more. After shortlisting the condo , gave an offer with contingency - bank had pre-approved me. During the final step - my bank comes back stating Fannie Mae has not approved this condominium and its in the 'Do Not Lend List' - which is why the bank cannot lend. 

Questions 

1. Is this very normal ? 

2. Would all banks reject this loan ? Do all bank go to Fannie Mae to see if the condo is in the 'Do Not Lend' list ?

3. What are my options if I still wanna buy ? All cash buy ? 

Any guidance in the matter would be greatly appreciated. 

Thanks

Ketan