It's been nearly 8 months since the $8,000 cap was removed from FHA's Energy Efficient Mortgage (EEM) and it's high time banks start taking notice of this dynamic financing tool! To say that lenders have been slow to adopt the EEM's new guidelines would be a massive understatement. While cities, consultants and venture capitalists race to put together AB811 type programs for residents, banks could adopt the new EEM guidelines and enable their costumers to both purchase and refinance real estate and obtain extra funds that can be spent on energy efficiency improvements.
This Saturday, February 27th of 2010 I'll be doing the 1st of many workshops about EEMS. With my friend Michael McNeely of Wells Fargo at The Ecology Center in San Juan Capistrano we'll
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The other night I had a nice chat with Matt Verdi of Prospect Mortgage about Energy Efficient Mortgages and 203k loans. From last night to this afternoon Matt was able to get the new Energy Efficient Mortgage guidelines passed through his office's underwriters and is now ready to help his customers take of full advantage of this incredible financing tool. I'm blown away that it was as easy as it was for his office to make the switch, but because Prospect Mortgage is a direct lender with in house underwriting, it really didn't take much for Matt to get his office's EEM guidelines updated.
Very excited to see the local leadership from the OC Association of REALTORS®! Last September the Association hosted it's first green workshop that was a huge success. Excellent speakers hitting related sectors effecting the green building movement.