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On August 9, a federal district court judge in California ruled (PDF) that the Federal Housing Finance Agency (FHFA) violated federal law when it decided, without public notice or opportunity for stakeholders to comment, in July 2010, not to underwrite mortgages on homes with property assessed clean energy (PACE) loans.
FORBES: Court Victory Boosts Prospects For Residential Clean Energy PACE Programs
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Local governments across the country either scuttled or chose not to offer residential PACE programs after the Federal Housing Finance Agency (FHFA) ruled, in July 2010, it would not underwrite mortgages on homes with PACE liens.
FORBES: Sacramento Launches $100-Million Energy Retrofit Fund
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Last month, I directed my economic team to work with the Federal Housing Finance Agency -- or FHFA -- and their partners in the housing industry to identify barriers to refinancing, knock those barriers down, and explore every option available to help many American homeowners to refinance.
WHITEHOUSE: President Obama Speaks on Housing and the Economy