The Shady Side of Solar System Financing
The nation’s leading residential solar energy financing lenders operate under a business model that uses many of the predatory methods employed in the subprime mortgage lending market of 2007-2010.
Homeowners and renters across America want to save money on home energy bills, protect the planet, and remain and thrive in the communities they love by adopting affordable clean energy solutions like solar, energy-efficient appliances and electric vehicles. Expanding access to clean energy in underserved communities will result in better financial outcomes for hard-working people.
CRL works to ensure that all communities – particularly those that have been underserved – have equitable access to the hundreds of billions of dollars in available federal and local grants and tax incentives to support the transition to sustainable green energy.
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New Homes with Mortgages Backed by the Enterprises Should Meet Updated Building Energy Code Requirements
More than 120 affordable housing, consumer, health, energy efficiency, environmental, business, and other organizations at the national, state, and local levels joined this letter to urge the FHFA to direct the Government Sponsored Enterprises, Fannie Mae and Freddie Mac, to join the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA) in requiring that all new...
Residential PACE Financing Should be Subject to the Same Regulations that Apply to First-Lien Mortgages
The undersigned organizations wrote in strong support of the Bureau’s proposed rule applying Regulation Z to Residential Property Assessed Clean Energy (PACE) loans. In the proposed rule, the Bureau correctly recognizes that PACE financing fundamentally acts as mortgage credit, yet is provided by underregulated or unsupervised entities that often exploit the lien priority granted to tax assessments. As a result...
Comment to the Federal Housing Finance Agency on Request for Input on Climate and Natural Disaster Risk Management at the Regulated Entities
The Center for Responsible Lending (CRL) and the Center for Community Self-Help (Self-Help) appreciate the opportunity to comment on the Federal Housing Finance Agency’s (FHFA) Request for Input on Climate and Natural Disaster Risk Management at the Regulated Entities. CRL is a nonprofit, non-partisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive...