The Bond Buyer is the paper of record for the bond market. The article presents a very good view of what should be expected in the marketplace. This gives the reader a sense that PACE will continue only if prudent underwriting practices are followed.
Regretably, the folks who were instrumental in getting the initial PACE programs started were not mindful of the protections desired and required by the GSE community.
Note the last paragraph. It appears to give a glimmer of hope that there may be a path back from the brink.
SEE ARTICLE HERE
