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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, MBA

FANNIE MAE HAS MADE SOME REVISIONS TO ITS POPULAR GREEN FINANCING PROGRAM TO IMPROVE THE PROCESSING OF GREEN MORTGAGE LOANS

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.

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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