CFPB Kicks Off PACE Loans Rulemaking With Call For Info

Law360 (March 4, 2019, 8:41 PM EST) -- The Consumer Financial Protection Bureau put out a call for information on Monday as it begins a process to set federal standards for loans used by homeowners to cover the costs of energy-efficient property upgrades, a type of financing that's drawn scrutiny from both consumer advocates and housing industry groups.

The CFPB said it's issuing an advance notice of proposed rulemaking that seeks loan contract samples, descriptions of current underwriting standards and other information related to property assessed clean energy financing, or PACE financing, which allow homeowners to pay for solar panels, high-efficiency water heaters and other "green" home improvements through...

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