Kermit the Frog once sang "it's not easy bein' green," but Fannie Mae seems to have no such troubles.
Late last month, the mortgage financier announced the issuance of its latest Single-Family Green Mortgage-Backed Security under its Green Bond Program. The first bond in the program was issued on April 22, 2020, in observance of the 50th anniversary of Earth Day. Since then, Fannie Mae reports it has issued over $40 million worth of the issuance.
The MBS transactions include only mortgage loans backed by newly constructed single-family residential homes with ENERGY STAR certifications. Those certifications must meet or exceed national program requirements for ENERGY STAR Certified Homes, says Fannie Mae. On average, ENERGY STAR Certified Homes are 20% more energy-efficient than atypical single-family homes built to code and 10% more efficient than typical single-family homes.
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Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
