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Borrowers with Local and State Benchmarking Requirements or Building Performance Standards

If your property is in a city or state that requires energy benchmarking and the property has a Fannie Mae Mortgage Loan, you may be required to submit your energy cost and consumption data to the city/state each year. If your property meets this criterion, you must submit your annual Energy Performance Metrics (EPMs) to Fannie Mae, following the instructions guide linked below.

How to Submit Energy Performance Metrics Guide 

Please note that Green Mortgage Loan Borrowers are required to submit their data to Fannie Mae each year and to local jurisdictions, if applicable. Bright Power completes the Fannie Mae reporting requirement through the Green Measurement and Verification Service on behalf of Green Mortgage Loan Borrowers only.

Please refer questions regarding the Fannie Mae requirements for non-Green Mortgage Loans with local and state energy benchmarking to [email protected]. For questions regarding Fannie Mae Green Mortgage Loans, please contact [email protected].
 

Non-Green Mortgage Loans subject to Local Building Performance Standards

Jurisdictions around the country are adopting Building Performance Standards (BPS) laws, which require buildings to meet certain energy or carbon emissions performance standards. Borrowers with properties in jurisdictions that are adopting BPS may be required to make efficiency upgrades to meet the standards. When a building’s energy consumption or emissions are over the jurisdiction’s cap, the owner may be subject to fines.

Currently, 13 jurisdictions have adopted various BPS policies. Four of the jurisdictions have state-wide requirements, and these are in addition to more localized requirements:

  1. Boston, MA
  2. Cambridge, MA (non-residential only)
  3. Chula Vista, CA
  4. Denver, CO
  5. New York City, NY
  6. Seattle, WA
  7. St. Louis, MO
  8. Washington, D.C
  9. Montgomery County, MD
  10. Colorado
  11. Maryland
  12. Oregon
  13. Washington

Please refer to the Building Performance Standards Overview for Lenders and Servicers to learn more about how BPS may impact Borrowers, Servicers and Fannie Mae.