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Effective for FHA Case Numbers assigned on and after January 6, 2018, properties encumbered with Property Assessed Clean Energy (PACE) obligations will no longer be eligible for FHA-insured financing.
PACE loans are made through government-sponsored programs to finance energy efficient upgrades and installations and where repayment is made through special tax-like property assessments.
Below is a summary of the underwriting changes made for purchase and refinance transactions to ensure outstanding PACE obligations are paid off and closed.
Contact your Account Executive with questions.
An Equal Housing Opportunity Lender. Copyright 2007 -
2023
. Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: www.nmlsconsumeraccess.com.The content of this website is intended for licensed third party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services is one of the leading wholesale mortgage lenders.
Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00