H.R.5766 - To ensure that the underwriting standards of Fannie Mae and Freddie Mac facilitate the use of property assessed clean energy programs to finance the installation of renewable energy and energy efficiency improvements.

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  • Official: To ensure that the underwriting standards of Fannie Mae and Freddie Mac facilitate the use of property assessed clean energy programs to finance the installation of renewable energy and energy efficiency improvements. as introduced.

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Introduced
 
House
Passes
 
Senate
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President
Signs
 

 
07/14/10
 
 
 
 
 
 
 

Official Bill Text Comment on about 3 Pages

Sponsor

Representative

C. Thompson

D-CA

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Official Summary

7/15/2010--Introduced.PACE Assessment Protection Act of 2010 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to adopt underwriting standards that are consistent with the Guidelines for Pilot PACE Financing Progra
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Official Summary

7/15/2010--Introduced.PACE Assessment Protection Act of 2010 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to adopt underwriting standards that are consistent with the Guidelines for Pilot PACE Financing Programs issued on May 7, 2010, by the Department of Energy (DOE). Provides that liens or other property obligations that secure property taxes or assessments under a PACE program and that are consistent with such standards shall be considered to comply with the Uniform Instruments of Fannie Mae and Freddie Mac and shall not constitute a default on an existing mortgage or trigger the exercise of lender's remedies for a property with such a lien. Defines a "PACE program" as a property assessed clean energy program under which a state or political subdivision levies taxes or assessments on real property to finance the installation of renewable energy and energy efficiency improvements. Prohibits Fannie Mae and Freddie Mac from requiring repayment of a PACE program tax or assessment in order for a property owner to finance, refinance, or transfer property that meets their underwriting criteria without consideration of the PACE program lien. Requires the underwriting standards to provide that, in the event that a tax or assessment under a PACE program is delinquent, only the unpaid delinquent amount along with applicable penalties, interest, and costs will be subject to foreclosure and not the entire amount. Prohibits the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and all federal agencies and entities chartered under federal law from discriminating against communities implementing or participating in a PACE program.

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10/31/10
VOTE! - AGE OF AUTISM

Teresa - I don't know Doyle personally and he's not my Rep. but I did note his sponsorship of the H.R. 5766, the TRAIN Act, which I think is a good bill. http://doyle.house.gov/apps/list/press/pa14_doyle/20100728TRAINActCommitteeVote. ...

Source: AGE OF AUTISM
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10/19/10
join Kevin Cahill Tues. in Rhinebeck– Building a Greener New York ...

[...and I personally gave this petition to Scott Murphy when he saw him Sat. in LaGrange; call his offices (and Schumer's too): (866) 338-1015 to get them both on board H.R.5766/S.3642...] Don't forget these important reasons why we ...

Source: Climate World Wide After 2009
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10/19/10
PACE Lawsuit Update « California Green Building Blog

The final option is to pass HR 5766, and (devil's advocate portion over) I'm fine with that too. My issue with HR 5766 is that I fear it will burn political capital, or just get delayed as it gets swept into a broader energy bill. ...

Source: California Green Building Blog
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