AEI Consultants attended the Fannie Mae Green Financing Conference this past week. Here are some notable highlights and revisions to that program:
Delegated lenders (lenders that have submitted eight (8) Green Financing loans) will be required to review future Green Rewards Energy Reports (currently Fannie Mae reviews all of the energy reports). This new process will commence when Fannie Mae announces the new program on or about April 27, 2017. This change will reduce the time required between submittal and rate lock.
Fannie Mae will pre-qualify energy auditors and post their names on their website as approved vendors. Energy firms will be required to complete five projects with a minimum quality score before becoming approved vendors. Lenders can use energy firms not on the approved vendor list, but those reports will have to be reviewed by Fannie Mae.
The required Fannie Mae 4099h form has been streamlined to make it easier for lenders to review and submit.
The report format has changed in order to ensure report consistency among the various providers.
AEI is uniquely positioned to be a top provider once the new process is launched based on our extensive prior experience with the program. We are excited about participating in the next iteration of the program and look forward to playing our part in supporting its growth.
- Fannie Mae closed $55B in loans in 2016 and $3.5B were Green Financing loans.
- Fannie Mae expects to match or exceed $55B in loans in 2017 and are pushing to have a Green Financing component on most if not all of those loans.
- Green Financing is a win-win-win for borrowers, lenders, and energy/water efficiency improvements nationally.
AEI can help ensure that your next agency deal goes smoothly and on time.