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FHFA not so green, sees red

· The agency objects to the liens that PACE puts on properties, which get paid off ahead of mortgages if a borrower defaults. That adds a theoretical risk into an already jittery credit market The FHFA officially comes out and opposes the Property Assessed Clean Energy program despite its popularity because it transfers more risk to banks and holders of mortgage-based securities. The program permits homeowners to finance green improvements (solar panels, etc.) through supplements to their property tax. Advocates say it speeds up retrofitting and creates jobs. [Grist]