ABA Calls for Broader Application of TILA to PACE Loans
The American Bankers Association yesterday offered feedback to the Consumer Financial Protection Bureau on its planned rulemaking on of residential Property Assessed Clean Energy loans.
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CFPB Seeks Public Comment on PACE Loans
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.
CFPB Updates Rulemaking Agenda for Fall 2018
The Consumer Financial Protection Bureau yesterday updated its rulemaking agenda for the remainder of 2018.
ABA Joins Consumer Groups Calling for PACE Loan Rulemaking
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.
FHA Announces New Loan Limits for 2018, Blocks PACE Loans
The maximum conforming loan limits for mortgages the Federal Housing Administration will insure will increase in 2018, the agency said today.
Carson Signals FHA Policy Shift on PACE Loans
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.
ABA, Trades Support Bills Targeting PACE Loans
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.
Lawmakers Introduce ABA-Backed Bills Targeting PACE Loans
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.
DOE Releases Updated PACE Loan Guidelines
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.