ABS participants shrug off FHA policy reversal
The Federal Housing Administration (FHA) reversed a July 2016 decision to insure new mortgages on properties with Property Assessed Clean Energy (PACE) assessments in an announcement Thursday, but ABS sources say it is only a blip.
The FHA attributed its decision to PACE assessments on FHA-insured mortgages creating a “lack of transparency” for both the agency and FHA borrowers.“The FHA can no longer tolerate putting taxpayers at risk by allowing obligations like these to be placed ahead of the mortgage itself in the ...
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