Fannie Mae announced it has received the 2021 ENERGY STAR Partner of the Year – Sustained Excellence award from the U.S. Environmental Protection Agency and U.S. Department of Energy.
The organization received the award for its efforts in the multifamily and single-family housing markets. Although this is the seventh consecutive year Fannie Mae has received the award for its multifamily business, it is the first year its single-family business as received such recognition.
“We’re honored to continue our work with ENERGY STAR to advance sustainability efforts in multifamily housing,” Karyn Sper, Fannie Mae senior director, multifamily green financing business, said in a release. “Green Mortgage Financing helps multifamily building owners reduce energy and water consumption and costs, which improves both the overall condition of the property and tenant satisfaction. This speaks to the triple bottom line of positive environmental, social and economic impact, which has been part of Fannie Mae’s multifamily sustainability model for a decade.”
Fannie Mae has been an ENERGY STAR partner since 2011. Its Green Financing Business supports the single-family and multifamily housing markets by “financing homes and multifamily communities that meet energy and water saving standards through green building programs and energy and water efficiency improvements.”
Through its multifamily green financing products, introduced in 2011, Fannie Mae securitizes these loans as Green MBS (mortgage-backed securities). Since 2012, the organization has issued more than $87 billion in Green MBS. Fannie Mae launched Single-Family Green MBS in April 2020 and through March 2021, Fannie Mae issued a cumulative $133 million of single-family Green MBS.
“Fannie Mae’s single-family business is thrilled to be included in this year’s ENERGY STAR recognition for the first time,” Arthur Johnson, Fannie Mae, vice president, capital markets, said. “Launching our single-family Green MBS last April was an essential step in Fannie Mae’s continued commitment to leading and innovating in green finance. We’re very proud of how issuance has grown during our first year, especially due to the enthusiastic participation of builder-lenders.”
The mortgage loans included in the Single-Family Green MBS back newly constructed, single-family residential homes with ENERGY STAR certifications that meet or exceed national program requirements for ENERGY STAR Certified Homes version 3.0. Homes built to these specifications are at least 10 percent more energy efficient compared to homes built to code and average a 20 percent overall improvement.