“Retrofit” is designed primarily to bootstrap a thriving market in the United States for retrofitting older homes for energy efficiency. But after reading the final October report ourselves, with its unwieldy combinations of federal regulation and subsidy plans, we are left with serious doubts. Is this really a proposal worth considering, or can we as Americans do better? Read more>>
We at Federal Energy Services have been receiving a number of phone calls asking how our services fit into the new Good Faith Estimate (GFE) rules and documentation standards, federally mandated as of January 1st. So we wanted to start this year's EEM In Focus with a brief look at the RESPA reforms of 2008, clarifying how third party EEM program facilitation services (such as ours) fit into the new regulations. Read more>>
Recently we learned of an attachment to HUD's proposed 2010 budget, outlining a $100 million "Energy Innovation Fund" that aims to make it easier and less expensive for homebuyers and homeowners to finance energy improvements. A quarter of that proposed fund is allocated to an "Energy Efficient Mortgage Innovation" pilot program, which promises to make substantial enhancements to EEM programs in the upcoming year.
What can you expect from these new programs? Read more>>
At the end of 2005, HUD announced the introduction of a new addition to their Section 203(k) program for home rehab financing: the Streamline 203(k) Limited Repair Program. This new program would permit home buyers to finance up to an additional $35,000 into their mortgage for discretionary improvements and renovations to single family dwellings.
Federal Energy Services served its final Streamline 203(k) loan in May 2009. We'd had enough. While this program is a great idea - at least in principle - in everyday practical reality we learned that it didn't live up to its promise, either for us or for our clients. What do you need to know before diving into the waters of the Streamline 203(k)? Read more>>
As you may know already, in June 2009 the Department of Housing and Urban Development released a new set of EEM approval guidelines. These new guidelines eliminate the former $8,000 approval upper limit (as well as the $4,000 minimum limit) on EEM-eligible home energy improvements, enabling many more homes to qualify for an Energy Efficient Mortgage. This is a wonderful development for the Energy Efficient Mortgage, as well as for anyone interested in ensuring that their new home will be as affordably energy efficient as possible. Read more>>