Nation: PACE Reform Bills Introduced

Bipartisan legislation supported by NAR was introduced in the Senate and House that would subject Property Assessed Clean Energy (PACE) loans to the same Truth in Lending Act (TILA) consumer protections required of other mortgage products. In the Senate, Senators Tom Cotton (R-AR), Marco Rubio (R-FL), and John Boozman (R-AR) introduced the legislation. The HouseContinue reading “Nation: PACE Reform Bills Introduced”

Nation: Feds Announce Changes to PACE Loans

The Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) announced changes to the treatment of Property Assessed Clean Energy (PACE) loans. This new guidance, which goes into effect immediately, states that PACE loans will remain in a subordinated position on most FHA mortgages, in line with long-standing guidance from the Federal Housing FinanceContinue reading “Nation: Feds Announce Changes to PACE Loans”

County Finalizes Deal to Fund EnergySmart Loans

Boulder County announced loans for energy efficiency improvements are now available through Elevations Credit Union, with interest rates purportedly beginning at 2. 75 percent. Voters approved a ballot initiative called the ClimateSmart Loan program in 2008. That program allowed property owners to borrow money from the County with a property assessment paid back over time.Continue reading “County Finalizes Deal to Fund EnergySmart Loans”