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.
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.
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.
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.