Within just a few years, some 23 states and the federal government have passed legislation removing any legal barriers to adopting the program, and hundreds of cities and counties have or are developing their own Property Assessed Clean Energy versions.
Yet now in a somewhat odd twist, about half the mortgages in the country may be ineligible for PACE financing. The quasi-public mortgage lenders, Fannie Mae and Freddie Mac, which received a lot of unwanted attention and much-wanted aide during the fall of the housing market, have reportedly sent out “lender guidance letters” suggesting that homes financing through them are not allowed to participate in PACE financing. SEE ARTICLE
