Green Initiative

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For multifamily property owners who have considered making energy and water-saving upgrades but who couldn't finance the upfront costs, now is the time. The New York City Multifamily Property Improvements to Reduce Energy (M-PIRE) Loan provides additional financing opportunities for property owners within NYC's five boroughs.
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Our Mission

The Fannie Mae Multifamily Green Initiative is designed to improve the energy and water efficiency, enhance the financial and environmental sustainability, and extend the useful life of the country's multifamily housing stock. This mission benefits entities and individuals with a vested interest in the affordability and stability of market rate and affordable multifamily rental properties, from borrowers and lenders to tenants and investors.

Our Strategy

Fannie Mae Multifamily Mortgage Business (MMB) launched the Green Initiative in June 2010. The goal of the Multifamily Green Initiative is to make the buildings we finance more energy efficient because more energy efficient properties cost less to operate, are more affordable to tenants, are less subject to energy cost fluctuations, and have the added benefit of reducing energy consumption and greenhouse gas emissions. MMB is using a systematic approach to accomplish this goal, addressing each point in the mortgage finance life cycle from origination through underwriting, servicing, asset management, and even workouts.

Since the launch of the initiative, we have had significant accomplishments, including the introduction of Green Refinance Plus, the first Multifamily Loan product designed to make affordable properties more energy and water efficient. We have received tremendous positive recognition and support from borrowers, lenders, policy makers, and industry groups, such as ULI, NMHC, National Housing Trust, HUD, the Department of Energy, United Dominion Realty Trust, and Equity Residential. MMB is in a position to build on our early success to make a transformative change to the multifamily mortgage market by including energy considerations into the underwriting, financing and asset management of a multifamily asset.

Our Projects

The Fannie Mae Multifamily Green Initiative Team is implementing projects that support the pillars of the strategy. A subset of these projects includes:

  • Fannie Mae Multifamily Green Initiative White Paper: Read how Fannie Mae's Multifamily housing mission and financing process integrates naturally with green building and energy and water efficiency principles.
  • Read White Paper
  • Energy and Water Market Research: Conduct market research of multifamily properties to analyze energy and water usage and related costs paid by owners and tenants and to support our partnership with the EPA to explore the development of an ENERGY STAR® 1-100 rating system for multifamily properties.
    Participate in the Multifamily Energy and Water Market Research Survey
  • Green Rental Housing Task Force: Host a biannual forum to receive input from the multifamily industry on the Green Initiative.
  • 3939 Wisconsin Avenue Northwest - ENERGY STAR Building Competition: Track, measure and save energy and costs at Fannie Mae's own office location.
  • Tools for Green Underwriting: Evaluate underwriting tools to better understand the impact of energy and water cost savings on underwriting.
  • Data Standards and Collection: Lead industry efforts to standardize data definitions and collection.

For more information email the Fannie Mae Multifamily Green Initiative Team.

Email Fannie Mae Multifamily Green Initiative