March 14, 2019
We previously announced changes to Green Advantage® for 2019.
As a reminder, these changes included the following requirement: Borrowers must retain a qualified third-party consultant before the loan originates to collect, input and monitor actual energy and water usage at the properties with Green Up® and Green Up Plus® loans.
We recently made minor revisions to the qualifications and responsibilities of this Benchmarking Data Consultant.
Please note, to provide flexibility for your Borrowers to choose a Benchmarking Data Consultant who meets our requirements, we do not provide a list of approved vendors. You and your Borrowers may find that the consultant who provided the Green Assessment ® qualifies to be the Benchmarking Data Consultant or is able to provide recommendations.
Benchmarking Metrics are generated in ENERGY STAR ® Portfolio Manager ® after 12 consecutive months of utility consumption data are entered for the property. For 2019 loans, this task must now be done by your Borrower’s Benchmarking Data Consultant.
2018 Benchmarking Metrics must be submitted by March 31 for all Green Up and Green Up Plus loans that:
We will reach out to Servicers and provide them with a list of loans that fall in either category.
Benchmarking Metrics must be submitted through this Porfolio Manager link. We’ve created our 2018 Benchmarking Metrics Submission Guide to help. Servicers should provide this guide to those needing to submit metrics. Also, check out the new Benchmarking Data Collection Guide for more in-depth information about benchmarking.
If you have any questions, we encourage you to reach out to your Freddie Mac relationship manager.
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