Freddie Mac Single-Family Seller/Servicer Guide 4301.8 — Refinance of Mortgages secured by properties subject to an energy retrofit loan
Freddie Mac Single-Family Seller/Servicer Guide section 4301.8 — Refinance of Mortgages secured by properties subject to an energy retrofit loan. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4301.8 — Refinance of Mortgages secured by properties subject to an energy retrofit loan — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Freddie Mac Single-Family Seller/Servicer Guide 4301.8 — Refinance of Mortgages secured by properties subject to an energy retrofit loan
For the purposes of the Guide, a Property Assessed Clean Energy (PACE) or PACE-like obligation (either referred to as a “PACE obligation”) refers to any energy retrofit loan that is: ■ Used to finance energy efficiency improvements, and ■ Repaid through a property tax assessment For the “no cash-out” refinance of Mortgages secured by properties subject to PACE obligations that result in or provide for First Lien priority and where the PACE obligations are paid off with the Mortgage proceeds, the following requirements apply: ■ The new refinance Mortgage must be originated in accordance with the requirements of Section 4301.4 for “no cash-out” refinance Mortgages ■ The Mortgage being refinanced must be owned in whole or in part or securitized by Freddie Mac ■ The PACE obligation must be paid in full ■ The Mortgage file must include evidence that the obligation being paid off is a PACE obligation that results in or provides for First Lien priority ■ The Seller must deliver ULDD Data Point Investor Feature Identifier valid value “H61” when delivering a Freddie Mac-owned “no cash-out” refinance Mortgage used to pay a PACE obligation. See Section 6302.16(b)(ii) for more information. For the cash-out refinance of Mortgages secured by properties subject to PACE obligations and where the PACE obligations are paid off with the Mortgage proceeds, the following requirements apply: ■ The new refinance Mortgage must be originated in accordance with the requirements of Section 4301.5 for cash-out refinance Mortgages ■ If the PACE obligation results in or provides First Lien priority, the PACE obligation must be paid in full with the Mortgage proceeds Mortgages secured by properties that are energy efficient and are also subject to PACE obligations may be eligible for purchase under the provisions of Chapter 4606 for GreenCHOICE Mortgages®.
Freddie Mac Single-Family Seller/Servicer Guide 4301.8 — Refinance of Mortgages secured by properties subject to an energy retrofit loan — PENDING VERSION, takes effect 2027-01-25
Not yet in force. This is the pending version of the section, which takes effect 2027-01-25. The other version on this page governs until then.
For the purposes of the Guide, a Property Assessed Clean Energy (PACE) or PACE-like obligation (either referred to as a “PACE obligation”) refers to any energy retrofit loan that is: ■ Used to finance energy efficiency improvements, and ■ Repaid through a property tax assessment For the “no cash-out” refinance of Mortgages secured by properties subject to PACE obligations that result in or provide for First Lien priority and where the PACE obligations are paid off with the Mortgage proceeds, the following requirements apply: ■ The new refinance Mortgage must be originated in accordance with the requirements of Section 4301.4 for “no cash-out” refinance Mortgages ■ The Mortgage being refinanced must be owned in whole or in part or securitized by Freddie Mac ■ The PACE obligation must be paid in full ■ The Mortgage file must include evidence that the obligation being paid off is a PACE obligation that results in or provides for First Lien priority ■ The Seller must deliver ULDD Data Point Investor Feature Identifier valid value “H61” when delivering a Freddie Mac-owned “no cash-out” refinance Mortgage used to pay a PACE obligation. See Section 6302.16(b)(ii) for more information. For the cash-out refinance of Mortgages secured by properties subject to PACE obligations and where the PACE obligations are paid off with the Mortgage proceeds, the following requirements apply: ■ The new refinance Mortgage must be originated in accordance with the requirements of Section 4301.5 for cash-out refinance Mortgages ■ If the PACE obligation results in or provides First Lien priority, the PACE obligation must be paid in full with the Mortgage proceeds Mortgages secured by properties that are energy efficient and are also subject to PACE obligations may be eligible for purchase under the provisions of Chapter 4606 for CHOICEReno eXPress® Mortgages. For CHOICEReno eXPress Mortgages, in the event of a conflict between the requirements of this section and the requirements of Chapter 4606, the Seller must comply with the requirements of Chapter 4606.
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