Guide Bulletin 2018-21: New GreenCHOICE Mortgages and Updates to Condo Insurance
November 13, 2018
Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-21 introduces GreenCHOICE Mortgage℠, our newest option to finance energy and/or water efficiency improvements.
GreenCHOICE Mortgages expand our current underwriting flexibilities for mortgages secured by energy and/or water efficient properties. These flexibilities can be applied to most mortgage products and any property type eligible under our Guide and are effective for mortgages with settlements on or after May 1, 2019.
With this new mortgage solution, you can help borrowers lower their home utility bills so they can have more funds to spend towards their monthly housing expense.
Review the Bulletin for details on our selling and servicing requirements for GreenCHOICE Mortgages.
The Bulletin also announces updates to property insurance requirements for condominiums.