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Loan Modification

: Mortgage Lender Implode-o-Meter

California Forced to Pull Funding for PACE Solar Program

By Implode-Explode Heavy Industries

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"The California Energy Commission pulled its funding for PACE on Wednesday, a result of a ruling against the popular lending program by the Federal Housing Finance Agency (FHFA). Earlier this month, the FHFA issued guidelines for Fannie Mae and Freddie Mac, the nation?s two largest mortgage lenders, stating that PACE programs could not take precedence over primary mortgages. That dispute has effectively killed PACE financing for the time being."

Full post as published by Mortgage Lender Implode-o-Meter on August 01, 2010 (boomark / email).

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