PACE Update: FHFA Rulemaking Comments Filed, and CaliforniaFIRST Launches
A couple of PACE-related updates: FHFA rulemaking comments filed, and CaliforniaFIRST launches
First, for the wonks, we prepared a response to the FHFA rulemaking, and co-filed with 62 other major organizations. You can find all the responses here, and our specific comments, here. The cliff-notes version: we rebut FHFA’s unsubstantiated allegations and assertions; add facts to the record to show that PACE programs, with proper program design, strengthen the financial position of homeowners and do not pose a threat to Fannie Mae and Freddie Mac; and make the case that the programs be allowed to continue.
And many thanks for taking action! You can see that all told, over 50,000 citizens weighed in with FHFA, asking that residential PACE programs be allowed to continue. That’s real people power.
The second PACE update is that CaliforniaFIRST, a commercial PACE financing program that covers 14 counties and 126 municipalities across California, launched this week. If you have commercial space in the covered jurisdiction, check it out…we’ll be interested to see what the market response will be.
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