What a year! Many would say 2017 was the year of Green -- when your dedication to learning the ins and outs of "going green" transformed the market. Our success with the Green Financing business is measured in the positive impact in our communities -- from glasses of water saved, to increased income for tenants' spending on necessities, like childcare and transportation. While we're still counting those year-end impact numbers, the 2017 year end volume numbers are in. We issued a record-breaking $27.6B of Green MBS and Credit Facilities, plus another $3.4B in Green GeMS REMICs. That number drives positive impact within our communities, so thank you for your partnership in making it a banner year.
What does last year's volume mean for 2018? Can even more properties "go green?" Yes, much more is still to be done! Thousands of multifamily properties still can save significantly on energy and water costs, or invest in revenue-generating solar panels. While $27.6B is a large number, over $1.2 trillion in total multifamily mortgage debt outstanding still needs your "green financing thumb."
As loans continue to mature and refinance, Fannie Mae's Green Financing incentives are available to improve the quality of properties, support positive financial performance, and raise quality of life for tenants. These incentives include highly competitive pricing, up to 5% in additional loan proceeds, and an energy and water audit report 100% paid by Fannie Mae . To access these incentives, the property's owner must commit to making improvements that project a savings of at least 25% on energy consumption or at least 25% on water consumption -- an achievable target for many properties.
We have many exciting plans for 2018 to expand and innovate in our Green Financing business. Did you know that Seniors Housing Properties can use our Green Financing? It's true! We've kicked off our Green for Seniors Housing platform with a training in January and will host another one on Thursday, February 15, at 4 p.m. ET. Seniors Housing is a perfect candidate for Green Financing -- creating better, more comfortable communities for our aging population.
I look forward to the great work we will do throughout 2018 to improve the quality and sustainability of multifamily rental housing and the lives of the people who call our buildings home.