Jeff Coyne is a director at GRS Group. He can be reached at 510.962.9534 or via email at [email protected]
Recently, Fannie Mae made an important announcement that will affect their green program.
Limited time offer on Green HPB Reports!
For a limited time, Fannie Mae will reimburse the full cost of all High Performance Building (HPB) Reports regardless of whether the loan delivers to Fannie Mae as Green or non-Green.
Why are they doing this? Fannie has seen some hesitancy in pursuing Green Rewards since the program requirements changed for 2019, and they want to encourage borrowers to lean in to Green this year.
The details
Fannie Mae will reimburse 100% of the cost of the HPB Report. To qualify for reimbursement of the HPB Report cost:
- Deal must have a Green Rewards quote
- Deal must go Under Application in DUS Gateway® no later than 5/20/2019
- Deal must deliver to Fannie Mae – either Green or non-Green
They are relaxing that requirement in order to entice people to try the program with less risk. They’ve heard the rumors that qualifying for Green Rewards in 2019 is too hard and too expensive and that there is not enough of a pricing benefit for Green. They believe those rumors are wrong. The 2019 Green Rewards loans that have delivered this year have a median installation cost of about $400 per unit – a good deal considering the financial benefits of going Green. 2019 has also seen movement from a pricing standpoint – since January, pricing for Green has been more aggressive.
The average HPB Report costs roughly $5,000+, and no one wants a Borrower to bear that cost for a loan that isn’t a good fit for Green Rewards. This new, limited time, Fannie offer on HPB Reports removes that barrier. Get a Green Rewards quote, order the HPB Report, and check out the great benefits of 2019 Green Rewards – it’s on Fannie!
Call or email me or more details.
About GRS Group
GRS Group is a leading provider of commercial real estate (“CRE”) services worldwide. With offices across the United States, Europe, and affiliates around the globe, GRS Group provides local market knowledge with a global perspective for institutional real estate investors, occupiers and lenders worldwide. The GRS Group team has evaluated and advised on over $1 trillion in CRE transactions.
Through the company’s proprietary management process, Global Services Connection, GRS Group delivers an integrated suite of services including Financial Advisory, Transaction Management, Assessment and Title Insurance. We provide a single point of contact, capable of leveraging the GRS Group portfolio of companies and delivering customized solutions to assist our clients in achieving their investment goals.