Fhlmc Solar Panels

To learn more start with our requirements for properties with solar panels in guide section 5601 2.

Fhlmc solar panels.

The new user friendly seller servicer guide will make it significantly easier for you and your team to find understand and share critical information. This includes property assessed clean energy pace obligations that may result in a first lien priority at delinquency. Homeowner interest in solar panel systems has grown in the past decade and we have begun to receive questions from sellers about the eligibility of mortgages secured by properties with solar panels. A pace obligation refers to any energy retrofit loan that is.

Used to finance energy conservation. Solar panels properties with leased or borrower owned solar panels are eligible as long as all fhlmc requirements are met. Freddie mac purchases mortgages secured by properties with solar panels. Add options in lieu of an energy report when determining the cost effectiveness of solar panels we are also updating guide section 5601 12 to expand our collateral valuation guidance for properties with solar panels energy efficiency improvements and or water efficiency improvements including the option to use the appraisal institute s.

If there is a lease for the panels all pertinent documentation must be reviewed to make sure these is nothing that can impair freddie mac s first lien position per 22 3 of the guide. Solar panels are an eligible improvement for greenchoice mortgages. I properties with solar panels owned by the borrower if the borrower owns the solar panels on the property. Effective for mortgages with settlement dates on and after march 1 2017.