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You are here: Home » News » Don’t Miss Fannie Mae’s Free Look Efficiency Audit Promotion

April 25, 2019

Don’t Miss Fannie Mae’s Free Look Efficiency Audit Promotion

By Tony Liou, MBA

LIMITED TIME OFFER TO REIMBURSE 100% OF THE COST OF YOUR GREEN REPORT

Are you taking advantage of Fannie Mae’s limited time offer to reimburse 100% of the cost of your green report?

Fannie recently announced that from now until May 20th, they will cover the cost of your water and energy audit report whether or not your project qualifies for a green loan, so long as the loan closes with Fannie Mae. In other words, you’ve got no reason NOT to order an efficiency audit on a Fannie Mae loan!

Fannie announced this promotion because they believed that borrowers were hesitant to go green due to the difficulty and expense of the new green loan efficiency requirements. By providing a free look, borrowers can make that determination without the cost obligation of paying for the report.

Are the new requirements too tough? Not in our experience.  The new requirements, a minimum of 15% energy savings and a total of 30% combined energy and water savings, are not that expensive to meet, compared to last year’s requirement of 25% water savings. The costs to meet the goals have increased, but not as much as borrowers think.

Last year, to meet the water efficiency requirement, borrowers often relied on water-saving toilet installations—an expensive and unpopular measure. Now they are implementing smart thermostats and lighting upgrades, in addition to cost-effective upgrades like low-flow showerheads and kitchen/bathroom faucets which provide both water and energy savings due to the reduction in hot water heating. Smart irrigation systems are another way to save energy. With all these options available, borrowers are reaching the energy and water efficiency goals.

After the May 20th deadline, you can still expect green report reimbursement for Fannie Mae loans that qualify for the green program. Freddie Mac offers reimbursement up to $3,500 whether or not your project qualifies. Call your Partner representative for more information.

About the Authors

Tony Liou, MBA

Tony Liou, MBA

President, Partner Energy
Tony Liou, MBA is Co-Founder and President of Partner Energy. The company helps clients identify, capitalize and implement energy efficiency and sustainability projects that meet business goals. As an advocate for energy efficiency programs and sustainable building practices that add value for managers and owners of commercial real estate (CRE) assets, he understands the business drivers behind energy efficiency and sustainability in CRE. He worked for 20 years in real estate acquisition and underwriting, engineering design, start-ups, and sales and marketing. When capital and public policy began to incentivize green project investment, Tony built Partner Energy with a team of professional engineers, architects, and sustainability consultants who know how to apply the technologies and programs that can make these investments profitable. He has guided the company to develop a range of service offerings that have helped clients reduce energy usage and energy costs at thousands of properties nationwide. Tony helped to establish one of the agency green loan programs through Fannie Mae and Freddie Mac. Through his efforts, Partner Energy is now a recognized provider of agency green loan services. Tony also shares his insights and discusses best practices at speaking engagements and in online articles. He presents at conferences and events sponsored by universities, industry groups, and non-profit organizations.

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