An Obama administration program to help U.S. homeowners finance energy-saving improvements is running into problems from Fannie Mae and Freddie Mac. The government-backed mortgage companies sent letters to lenders about the Property Assessed Clean Energy program, convincing them that mortgages on homes financed under the program wouldn't be purchased by Fannie or Freddie. As a result, many local programs promoting the energy retrofits are being shut down or put on the back burner until the matter is clarified.

Related Summaries