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You are here: Home » Resources » Articles » Fannie Mae Updates Requirements for Green Building Financing Option

May 24, 2017

Fannie Mae Updates Requirements for Green Building Financing Option

By Tony Liou


Fannie Mae has made some revisions to its popular Green Financing program to improve the processing of green mortgage loans. On Monday May 22nd, it issued a modified standard Guidance Form 4099 and 4099.H that updates the scope and format of the High Performance Building (HPB) Report, which is a requirement of Fannie Mae’s Green Rewards Program. Fannie Mae also authorized Lenders to now be able to review Green Building Certifications. The changes are effective immediately and aim to improve the speed and quality of its green programs.

In its communication, Fannie Mae announced that it now requires:

  • All HPB Reports ordered on or after May 22, 2017 use the new Form 4099 and 4099.H. For reports ordered prior to this date, using the new guidance is at the lender’s discretion.
  • The consultant performing the HPB assessment must submit both the HPB Report and the 4099.H to the Lender.
  • The Lender must review all HPB Reports – both using the new 4099 and prior version – prior to delivery to Fannie Mae.

What’s Changed?

  • Review will be delegated
    The most significant change is that Fannie Mae is now providing Lenders the opportunity to review Green Certifications as well as HPB Reports. Essentially, Fannie Mae was already delegating all review but made an exception for HPB Reports, which were reviewed in-house by Fannie Mae. Now, Lenders having reviewed 8 or more HPB reports will have the authority to approve HPB reports prepared by “pre-qualified” consultants. Fannie Mae will add HPB consultants to the pre-qualified list once they have submitted five HPB Reports to any Lender scored as a “1” (which means no material revisions were required following review).

Continue reading the GlobeSt blog here.

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