FHFA Takes Tough Stand Against Green Home Finance Program

Law360, New York (June 14, 2012, 7:14 PM EDT) -- The Federal Housing Finance Agency, which runs Fannie Mae and Freddie Mac, is pushing forward with a controversial proposal not to back mortgages for homeowners who use government funding to retrofit their homes for energy efficiency, the agency said Thursday.

The proposed policy, set to be published in the Federal Register on Friday, would prevent the twin mortgage finance giants from purchasing loans involved in the Property Assessed Clean Energy program and would encourage Fannie and Freddie to prevent existing customers from acquiring PACE funds....
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