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Freddie, Fannie reject energy retrofit loans
The Federal Housing Finance Agency announced Tuesday that the Property Assessed Clean Energy, or PACE program, backed by the Department of Energy and the Obama administration, is unacceptable for mortgage lenders to allow in its current form.
It's a move that will affect the program and those like them significantly as the Federal Housing Finance Agency (FHFA) regulates Fannie Mae, Freddie Mac, and the 12 Federal Home Loan Banks.
The PACE program offers loans to owners of residential or commercial properties for the purpose of retrofitting their properties with green tech options like solar panels. The loan, which is … Read more
