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Risks of PACE Financing: Bringing the CFPB and Banks Together

Learn the risks of PACE financing for lenders, investors and title professionals while identifying the risks of your interests and your customers.

Property Assessed Clean Energy (PACE) financing allows an owner of residential or commercial real estate to pay for energy efficient upgrades through 'loans' they pay back annually through their property tax assessments. PACE financing creates a super priority lien on the property that runs with the land. Additionally, clauses that prohibit PACE financing in mortgages are unenforceable. If an owner defaults on the assessment, the property may be taken by tax deed or other local tax enforcement procedures. No ability to repay or underwriting guidelines are required. In December, 2017, the Federal Housing Administration announced it will not insure mortgages on properties with PACE liens. In a strange alliance, consumer advocates and bank lobbyists are working together to reform the law in this area. This topic will help you be able to assess the risk your business faces with regard to PACE liens and you will be able to develop and implement a strategy to minimize the negative impact on your business.

Runtime: 85 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Is Pace Financing and How Does It Impact My Interests?

  • How Pace Financing Works
  • Who Pace Financing Impacts
  • Active Legislation/FHA Mortgagee Rule

Unlikely Bedfellows

  • Risks to Lenders, Investors, and Title Professionals
  • Risk to Consumers and Small Business Owners
  • Possible Solutions

How to Mitigate Institutional and Transactional Risk

  • Mortgagees - Portfolio Impact
  • Commercial and Residential Real Estate - Transactional Impact
  • The Future of Pace
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on March 9, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ashley M. Elmore Drew, Esq.

Ashley M. Elmore Drew, Esq.

Greenspoon Marder LLP

  • Senior Counsel in the Tampa office of Greenspoon Marder LLP
  • Provides legal and regulatory compliance guidance to business, real estate, and financial services clients on a wide range of Federal and State topics, including but not limited to the following: RESPA, SCRA, TILA, MLA, PACE Financing, Vendor Management, ECOA, FDCPA, FCRA, FACTA, UDAAP, FATCA, FACTA and myriad regulations. She also represents clients in regulatory and consumer defense litigation
  • Was featured in the Tampa Bay Business Journal, discussing the impact of the election on Dodd-Frank and the effect on community banks
  • Has written numerous articles
  • Can be contacted at 813-769-7038 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 402148
Published 2018
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