Six pilot cities have been identified where local HBAs and Fannie Mae Partnership Offices can begin to work together to develop initiatives that emphasize the efficient use of resources, such as energy and water, in the design, construction and operation of homes. The pilot cities are Atlanta, Columbus, Albuquerque, Denver, Los Angeles and Seattle.
Fannie Mae is providing an additional $100 million for investment in initiatives that test new housing finance products, support local green builder efforts, and develop creative solutions to environmental issues with community partners in those cities. The company recently revised its Energy Efficient Mortgage pilot by providing an underwriting variance that recognizes the added value of energy efficiency and translates the monthly energy savings into additional mortgage funds.
Mainstreaming Green Building