More Cash for Efficient Buildings

Owners who spent millions to make their apartment buildings more efficient might be able to get more money out of lenders — if they can convince their lenders to follow the underwriting guidelines in a new handbook by the Community Preservation Corp.

“CPC’s Underwriting Efficiency handbook gives lenders a resource of information on the benefits of efficiency improvements, how to discuss it with owners, and how to incorporate the savings into the underwriting process,” said Sadie McKeown, executive vice president and chief operating officer for CPC.

“Underwriting Efficiency: A Mortgage Lender’s Handbook for Realizing Energy and Water Efficiency Opportunities in Multifamily Housing,” is a free resource for lenders in their efforts to incorporate energy and water efficiency features into the financing of first mortgages for multifamily building owners. The money saved at more efficient buildings could help those buildings support a larger loan, if the lenders would recognize the benefits.

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