Items Tagged with 'PACE'

ARTICLES

  • Tesla begins production on solar roof panels

    Solar panels will resemble traditional roof tiles
    Last year, Tesla announced its intention to revolutionize the acquisition, storage, and use of solar energy with its own version of solar panels. Unlike traditional solar panels, which are placed on top of a home’s existing roof, Tesla’s solar panels are used to form a solar roof. And now, Tesla’s solar roof is in production.
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  • Housing industry applauds FHA move to stop insuring mortgages with PACE loans

    Largest industry trade groups support Trump administration decision
    On Thursday, the Trump administration reversed the Obama administration’s decision on PACE loans and said that FHA will stop insuring mortgages on homes that also carry PACE liens. Unsurprisingly, some of the same housing groups that asked for a change to the PACE rules last year are in favor of the Trump administration’s decision.
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  • FHA to stop insuring mortgages with PACE loans

    Trump administration reverses Obama policy
    Last year, the Obama administration announced that the Federal Housing Administration would begin insuring mortgages that also carry liens created by the PACE program. But that was last year. Things are much different now. In a stark reversal, FHA announced Thursday that it will no longer insure mortgages with PACE liens.
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  • FBI, SEC reportedly looking into PACE lender Renovate America

    WSJ reports on inquiries, company responds
    In a lengthy release published in response to the WSJ article, Renovate America confirmed that the company has spoken to both the FBI and SEC about the the company’s business, but the company said that it had been repeatedly assured by federal law enforcement authorities that it is not the subject or target of any investigation.  
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  • Tesla takes next step in solar energy revolution, unveils new solar panels

    Already plans production of solar roof
    Tesla, which got into the solar energy business last year with the acquisition of SolarCity, is taking the next step in its plan to revolutionize the acquisition, storage, and use of solar energy with the introduction of its own version of solar panels. What does it mean for the solar energy business? And what does it mean for the mortgage business?
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  • PACE industry responds to Congressional efforts to change program's rules

    "Observers should look beyond the inflammatory rhetoric"
    Earlier this week, a group of senators and representatives introduced bills in both houses of Congress that would change the rules for loans created by the Property Assessed Clean Energy program. When introducing, some of the bill’s sponsors said the PACE program is a “scam” and the industry is bereft with “predatory” lenders that “trick” unwitting homeowners. The PACE industry unsurprisingly disagrees with those allegations.
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  • Congress takes on "predatory" PACE loans

    Bills introduced to change rules for energy improvement loans
    The rules surrounding energy retrofit loans, the Property Assessed Clean Energy program, which engendered a great deal of divisiveness over the last few years, could be about to change, as both houses of Congress are set to consider changes to the rule. And what's the name of the act meant to challenge PACE loans? Well, that's called PACE too. Click for the full explanation.
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  • Here's the controversy surrounding PACE loans

    Is the program too risky?
    To one company using the programs, PACE (Property Assessed Clean Energy) programs are safe, but to critics in the industry, there are too many negatives about the loans. This account of the program from a borrower gives at least one example of where the clean energy program is causing a problem.
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  • Housing industry's biggest trade groups push FHA to reconsider PACE rules

    Concerned about energy improvement loans being given super priority status
    Last month, the Department of Housing and Urban Development and the Federal Housing Administration announced that the FHA will soon begin insuring mortgages that also carry liens created by energy retrofit programs, as long as the energy lien remains subordinate to the mortgage. But the fine print of the new rules has the housing industry's largest trade groups concerned.
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