Browsing: PACE loans

Compliance and Risk

The Consumer Financial Protection Bureau today requested public feedback on Property Assessed Clean Energy loans, a controversial type of financing that allows homeowners to pay for energy-efficient retrofitting — such as solar panels and high-efficiency air conditioners — through their property tax assessments, and which often take lien priority over the first mortgage lien.

Mortgage

In a comment letter to the Consumer Financial Protection Bureau today, ABA joined several finance and advocacy groups calling on the bureau to quickly initiate a rulemaking to further regulate Property Assessed Clean Energy loans, as directed by S. 2155.

Mortgage

Housing and Urban Development Secretary Ben Carson signaled today that the administration may revisit an Obama-era policy on Property Assessed Clean Energy, or PACE, loans, a controversial financial product that allows homeowners to pay for energy-efficient retrofitting — such as solar panels and high-efficiency air conditioners — through their property tax assessments.

Mortgage

More than two dozen financial and housing trade associations, including ABA, wrote to House and Senate lawmakers today expressing support for legislation to require more consumer disclosures for Property Assessed Clean Energy loans.

Mortgage

Sens. Tom Cotton (R-Ark.), Marco Rubio (R-Fla.) and John Boozman (R-Ark.) and Reps. Brad Sherman (D-Calif.) and Ed Royce (R-Calif.) today introduced ABA-supported legislation requiring more consumer disclosures for Property Assessed Clean Energy loans, a controversial financial product that allows homeowners to pay for energy-efficient retrofitting — such as solar panels and high-efficiency air conditioners — through their property tax assessments.

Newsbytes

The Department of Energy today released new best practices guidelines for residential Property-Assessed Clean Energy mortgages, which provide homeowners a way to have their homes undergo energy-efficient retrofitting financed through property tax assessments.