Energy Efficiency's New BFF

A-list panelists helped launched the Underwriting Efficiency Handbook and the message was clear: now's the time for mortgage lenders to help achieve energy + water efficiencies in multi-family housing, because we know it makes dollars and sense

  1. First opportunity to get a copy of Underwriting Efficiency
  2. Sallan's Executive Director describes the Handbook as a new industry resource created to encourage more lenders to incorporate energy + water efficiency measures into the financing of first mortgages. It also addresses how lenders can discuss energy efficiency with owners + how to incorporate the potential cost savings into the underwriting process. The larger goal of the Handbook is to change awareness in order to change business as usual
  3. Sadie McKeown, Chief Operating Officer of the Community Preservation Corporation, keynotes the panel and makes the case for deploying traditional + well understood financial instruments -- the residential 30 year mortgage and underwriting -- to move energy efficiency + water conservation into the mainstream of multi-family building characteristics
  4. Energy efficiency plays key role in preserving rental affordability in our communities  #LendingGreen @Sallan_Found https://t.co/lkCT5uQlo1
    Energy efficiency plays key role in preserving rental affordability in our communities #LendingGreen @Sallan_Found pic.twitter.com/lkCT5uQlo1
  5. Underwriting Energy Efficiency: A Lender Handbook
  6. "If Underwritng new piping wld you use #s that assume leaks? Or #s for new systems? Same concpt applies to efficiency upgrdes" #LendingGreen
  7. When you decrease your utilities you can increase Net Operating Income (NOI) #LendingGreen https://t.co/79qStzzDXM
    When you decrease your utilities you can increase Net Operating Income (NOI) #LendingGreen pic.twitter.com/79qStzzDXM
  8. Michael Bodaken, President of the National Housing Trust + its Community Development Fund, that engage in preservation policy, affordable housing developing + lending. As such, he knows energy efficiency is a real opportunity for property owners to cut costs.
  9. "1st step as a developer is understanding your utility costs. Think abt how much you can save with energy efficiency upgrades" #LendingGreen
  10. Of all building op costs, the 1 that an owner has most control over is energy efficiency. Huge opp 4 savings @NatlHsingTrust #LendingGreen
  11. @NatlHsingTrust "largest controllable operating cost is utilities. It's one of the only variables for your building" #LendingGreen
  12. Sadie McKeown: #lendinggreen shifts owner focus from increasing income solely via rent rolls towards gains from improved building operations
  13. .@communityp Collaborative process to get to underwriting efficiency. Appraisers, loan officers, financing agencies + #LendingGreen
  14. @BrightPowerInc - energy audit key to understanding costs & potential savings for efficient projects #LendingGreen https://t.co/rKGI6YDWHS
    @BrightPowerInc - energy audit key to understanding costs & potential savings for efficient projects #LendingGreen pic.twitter.com/rKGI6YDWHS
  15. Bottom line. Underwriting to savings reduces risk across all stakeholders. #LendingGreen
  16. Just heard an amazing case study where underwriting to savings increased cash flow by 35%! Rent increases⬇️. Gov't sudsidy⬇️. #LendingGreen
  17. Keep It Simple principle. Energy auditors have to learn to speak in a language the lenders, owners can understand. @FannieMae #LendingGreen
  18. Energy audits help lenders make educated decisions, and building owners make motivated decisions. #LendingGreen  http://bit.ly/2qrg4PD   https://twitter.com/communityp/status/864838309587111938 
  19. "If you're a developer and you're sceptical, look at some examples - this works!" #lendinggreen CPC's a suite of case studies can help.
  20. MDG's Michael Rooney: More debt + less subsidy + more cash flow makes #lendinggreen a safe play for us @communityp https://t.co/H8rmwLMvqk
    MDG's Michael Rooney: More debt + less subsidy + more cash flow makes #lendinggreen a safe play for us @communityp pic.twitter.com/H8rmwLMvqk
  21. Mike Rooney, a housing rehab developer, works with communities to find innovative ways to create energy efficient housing. As a panelist, he provides a wealth of data based on years of experience
  22. MDG: The savings are real. As a developer when you know the numbers work, it's an easy decision #LendingGreen https://t.co/4muWdURAEg
    MDG: The savings are real. As a developer when you know the numbers work, it's an easy decision #LendingGreen pic.twitter.com/4muWdURAEg
  23. MDG: the next step is tenant education. ie: turning off lights when you leave a room can have huge impact 🔋💡 #lendinggreen
  24. Everybody wins with energy efficiency. Increased cash flow for the building. On affordable properties, lower govt subsidy. #LendingGreen
  25. Can't stop w/ 15-20% savings. Need to keep pushing fwd. 70%+ savings becoming possible w/Passivehouse, etc @BrightPowerInc #LendingGreen
  26. We are at the point of making green the new normal. #LendingGreen
  27. Panelists Michael Bodaken, Chrissa Pagitsas, Jonathan Braman + Michael Rooney have a lot to say, based on their hands-on experience, about using existing financial instruments to enhance building ROI while making big energy efficiency gains!
  28. #WegoWise customer National Housing Trust says "energy costs are the largest controllable operating expense" #LendingGreen ♻️ We agree!
  29. .@fanniemae: #lendinggreen is also safer for the bondholder. It reduces risk for every single entity in process from tenants to bondholders. https://t.co/33GrlcjYqA
    .@FannieMae: #lendinggreen is also safer for the bondholder. It reduces risk for every single entity in process from tenants to bondholders. pic.twitter.com/33GrlcjYqA
  30. Chrissa Pagitsas leads the FANNIE MAE Multifamily Mortgage Business that's grown to over $4 billion in green mortgage backed securities
  31. .@ChrissaPagitsas: Need to start w/ originators. If they're not selling loan, owner will never know. @FannieMae @communityp #lendinggreen https://t.co/WsU4fqDeA3
    .@ChrissaPagitsas: Need to start w/ originators. If they're not selling loan, owner will never know. @FannieMae @communityp #lendinggreen pic.twitter.com/WsU4fqDeA3
  32. Keep it simple. Getting originators to see the value is step one. @FannieMae Green Rewards Loans. #LendingGreen
  33. .@ChrissaPagitsas: Close to "making green the new normal" where you can't imagine doing a mortgage w/o an energy audit. #lendinggreen
  34. What keeps you up at night? Chrissa Pagitsas says we need owners to understand the value of system maintenance #lendinggreen
  35. Jon Braman provides building portfolios with energy management services that improve efficiency, residents' quality of life + reduce operating costs
  36. Continuing to track energy/water use after efficiency improvements is critical @BrightPowerInc #LendingGreen https://t.co/yxGIKVUzGX
    Continuing to track energy/water use after efficiency improvements is critical @BrightPowerInc #LendingGreen pic.twitter.com/yxGIKVUzGX
  37. Time for questions, let us know what you're thinking #lendinggreen
  38. Q. Has code caught up to efficiency design? A. Good efficiency should meet/exceed code requirements #LendingGreen https://t.co/FppeJl7DaN
    Q. Has code caught up to efficiency design? A. Good efficiency should meet/exceed code requirements #LendingGreen pic.twitter.com/FppeJl7DaN
  39. Nancy Anderson congratulates Elizabeth Derry, principal author, main mover + chief 'cat herder' of the new Handbook
  40. Nancy Anderson, Sallan and Elizabeth Derry, CPC
    Nancy Anderson, Sallan and Elizabeth Derry, CPC
  41. Before you go, download the Underwriting Efficiency Handbook