WHAT'S NEW AT RESNET - 09/01/02
RESNET Begins Process for Amending Mortgage Industry National Home Energy Rating Standards RESNET has combined the Mortgage Industry National Home Energy Rating System Accredittion Procedures, the RESNET National Rater Training and Certifying Standard, and the National Home Energy Rating Technical Guidelines into a single set of standards, the "Mortgage Industry National Home Energy Rating Standards". The combined standards are posted at http://www.natresnet.org/accred/amended.htm. With the standards now combined into a single document, RESNET is seeking proposed changes to the standards.
The new standards spell out the process for amendments. It includes posting the proposed amendments on the RESNET web site and a public comment process. The final approval is made by a Standards Revision Evaluation Committee that is composed of three representatives of the home energy rating industry and three representatives of state energy offices.
Before posting revisions, the public will be solicited to submit proposed amendments. It is proposed that this process have two tracks, a RESNET drafting committee and a public process.
Amendments would be proposed through these two processes. The RESNET Standards Revision Evaluation Committee would consider the proposed amendments and draft a set of proposed amendments. The proposed amendments would be posted on RESNET's web site and a public comment process will take place which will include posting comments on RESNET's web site. The Standards Revision Evaluation Committee then would consider the comments received and approve the amendments to the standards.
RESNET Drafting Committee
Since the national home energy rating technical guidelines were adopted there have been a number of proposals suggested to improve the guidelines. A drafting committee has been appointed to address these issues. The drafting committee will be led by Philip Fairey of the Florida Solar Energy Center and Dave Roberts of Architectural Energy Corporation and is composed of the following individuals:
- Steve Andrews, E-Star Colorado
- Barbara Collins, Energy Rated Homes of the West
- Richard Faesy, Energy Rated Homes of Vermont
- Bruce Harley, Conservation Services Group
- Kelly Parker, Guaranteed Watt Saver Systems
- Gayle Sampson, Ohio energy rater and representative of the National Energy Raters Association
- Lighting, and Appliances Technical Subcommittee - This subcommittee would review the technical papers and public comments and draft amendments to incorporate these technologies. Richard Faesy has received funding from ICF Consulting for spearheading such an effort. A subcommittee will be formed that will be led by Richard Faesy. The committee will be composed of representatives of rating providers, rating software developers, raters and other interested parties. This technical subcommittee will have a working session at the RESNET track of the EEBA Conference in Phoenix in October.
- Renewable Energy Sources Technical Subcommittee - This subcommittee will draft amendments to address this issue of including renewable energy sources into the rating method. Philip Fairey of the Florida Solar Energy Center will lead the subcommittee's work. The committee will be composed of representatives of rating providers, rating software developers, raters and other interested parties.
- Rating Provider Quality Assurance Subcommittee - This subcommittee would draft procedures to address quality assurance of rating providers that will be included in the provider accreditation procedures. Barbara Collins of Energy Rated Homes of the West will beÊthe chair of the subcommittee.
RESNET is soliciting individuals to serve on the subcommittees. If you are interested in serving on any of the subcommittees please e-mail Steve Baden at sbaden@natresnet.org by September 15, 2002.
Public Process
Individuals are also asked to submit proposed amendments to the standard. A form is posted on RESNET's web site soliciting interested individuals to propose amendments to the standards. Go to http://www.natresnet.org/accred/ammendment.htm. Proposed amendments must be submitted by November 1, 2002.
The drafting committee will consider the proposed amendments from the three subcommittees and the proposed amendments submitted through the public process and draft a single set of amendments. The amendments will be submitted to the Standards Revision Evaluation Committee and would review them and submit them through a public comment process. The drafting committee will consider public comments received and draft a final set of amendments for final action by the Standards Revision Evaluation Committee.
Fannie Mae Launches New Energy Mortgage Product
Imagine that you are a lender. If some one offered a mortgage product that allowed your borrowers to afford a higher quality home, that is more comfortable, has lower operating costs while allowing 100% loan-to-value, does not require additional income to qualify, and can be electonicily underwritten - could you sell such a mortgage? This is exactly what Fannie Mae now offers with its new Energy Efficient Mortgage Program.
The new Fannie Mae product covers new and existing homes and offers:
- 100% Loan-to-Value (LTV)
- Requires only 3% minimum borrower contribution - utility and manufacturer rebates can be credited to the contribution.
- Monthly energy savings documented from an energy rating is treated as additional income for loan qualification.
- The energy savings are capitalized be adding value to the home's appraisal.
- Automated underwriting
For lower income borrowers Fannie Mae is offering the My Community Energy Efficient Mortgage which offers the same features as the Energy Efficient Mortgage product but offers a 105% LTV and requires only the lesser of $500 or 1% borrower contribution. A summary of the new Fannie Energy Efficient Mortgage is posted on RESNET's web site at www.natresnet.org/lenders/fnm_mcmsummary.pdf
These products require an energy rating from a RESNET accredited rating provider. On July 18, 2002, RESNET entered into an agreement with Fannie on the requirements that ratings must meet. These include:
- The raters will comply with the provisions of RESNET's Mortgage Industry National Home Energy Rating Accreditation Procedures and the National Energy Rater Training and Certifying Standard.
- The rating software must report the monthly energy savings and an energy value by calculating the weighted physical life of the energy measures (the result is referred to as the "Energy Life") and then calculate the present value of the Energy Savings using the Assumed Rate applied to the life of the energy improvements.
Fannie Mae has developed a comparison between the new energy mortgage products and the old product. To download the chart go to www.natresnet.org/lenders/fnm_comparison.pdf.
Join RESNETÊat the EEBA Conference
RESNET will be joining the EEBA Excellence in Building Conference that will be taking place on October 9-12, 2002, Phoenix, Arizona. As part of this partnership, on Wednesday, October 9 RESNET will have a single day dedicated to home energy rating and residential energy efficiency financing issues. The RESNET sessions will include:
- Presenting an Update on Home Energy Rating Accreditation Standards.
- Highlighting Opportunities for the Energy Rating Industry by Incorporating Lighting, Appliances, and Renewable Energy Resources into Rating Method.
- Expanding Business Opportunities with Fannie Mae Partnership Offices Taking Advantage of New EPA ENERGY STAR Home Marketing Strategies and Materials.
- Understanding and Marketing Energy Mortgages.
- Developing Rating Business Strategies.
RESNET has posted a web page on the RESNET Track at the EEBA Conference. Click on http://www.natresnet.org/track_opp.htm
Mark Your Calendar:
2003 RESNET Conference
February 24 - 26, 2003
Shelter Pointe Hotel and Marina
San Diego, California
California Here We Come! Click on www.natresnet.org/conference
Updates to RESNET's Web Site:
SEPTEMBER MEMBERS NEWS
- Congressional Conference Committe on National Energy Bill Update
- New California Energy Efficient Mortgage Web Site
- Florida Solar Energy Center's Designing and Building Interior Duct Systems
- Home Performance with ENERGY STAR Discussion
- NE HERS Alliance Rater Certification
- Improving Quality of Our Housing Conference
- Affordable Housing Ideas Web Site
- Heat Pump and Air Conditioning Diagnostics Program
- Empire Energy and Environmental Exposition
- Global Warming International Conference and Expo
- E-ZineÊon Sales and Marketing for Loan Officers
- Practical Ocean Energy Management Systems
NEW ACCREDITED RATING PROVIDERS
DPIS Engineering, LLC (Texas)
View this new accredited provider at http://www.natresnet.org/accred/registry.htm
NEW ACCREDITED RATER TRAINING PROVIDERS
State of idaho's GemStar Home Energy Rating System
View this new accredited provider at http://www.natresnet.org/accred/training.htm
NEW RESNET MEMBERS:
- Du Bose Heating & A/C
- East Kentucky Power Cooperative
- Honeywell DMC
- Kinetechs, Inc.
- Monroe Infrared Technology, Inc.
- Pacific Northwest National Laboratory
- Power Savings Inspections Services
- White Pine Residential Energy Services, Inc.
DIRECTORY OF CERTIFIED RATERS
Updated listings for:
- Arkansas
- Illinois
- Indiana
- Kentucky
- Michigan
- Nevada
- Ohio
LINKS TO RELATED SITES
Updated links for:
- Canadian Mortgage and Housing Corporation's Improving Quality and Affordability Ideas
- Get the Facts About the Energy Efficient Mortgage, The Best Kept Home Loan Secret
NOT A MEMBER OF RESNET?
JOIN RESNET TODAY!
RESNET is your information source on the latest developments in the dynamic field of residential energy efficiency financing. Residential energy efficiency and housing industry professionals find RESNET Notes as an indispensable tool for planning and implementing home energy rating, energy mortgage, and market-drive residential energy efficiency programs. Join RESNET today!
You can join RESNET on-line at http://www.natresnet.org/inside/memprem.asp
©2001, 2002 GWSSI, OKC, OK. All rights reserved.
Last updated on 09/10/02.