Did you know that Fannie Mae's first Green Mortgage loans delivered in 2012? It's true -- we've been leading the market and innovating in Green Financing for over six years. Since those early days, we've produced impressive results -- financially, socially, and environmentally. You are part of the global movement to transform rental housing to be greener and healthier. In recognition of this transformation, we have been named the world's largest issuer of green bonds by the Climate Bonds Initiative, recognizing the record-breaking $27.6 B in Green Bonds issued by Fannie Mae in 2017.
What have we -- our lenders, borrowers, and Fannie Mae -- done together? As a result of energy and water efficiency improvements financed through Fannie Mae through 2017:
- Over 248,000 units are being upgraded with new equipment, resulting in better quality assets
- Families are projected to save $131 annually for childcare and other meaningful expenses
- Owners are projected to see an average of $49,000 in property expense reduction
- Enough electricity is projected to be saved to power 80M cell phones and enough water to fill 42B glasses
And, what do these numbers look like at the property level? One borrower is saving $700,000 annually due to a 27% reduction in annual electricity costs and a 77% reduction in building repair and maintenance costs, thanks to choosing a Green Rewards loan. Walker & Dunlop delivered this $103M Green Rewards acquisition deal outside of New York City in late 2016. Over twelve months, the Borrower installed new energy efficient air handling units to replace aging ones, installed energy efficiency lighting systems in the common areas and parking garage, and upgraded components of the central heating and cooling systems. Not only has the property improved, but resident comfort has increased and building repairs have decreased. The owner has realized a simple payback on their $1.6M investment in just over two years.
Together, we remain committed to helping owners of multifamily properties realize the full financial and environmental potential of their properties and the potential savings that can be passed on to residents.