	A Member Services Organization

Information for Mortgage Lenders

RESNET And You
In 1995 the Residential Energy Services Network (RESNET) was formed as a partnership between the national mortgage industry, Energy Rated Homes of America, and the National Association of State Energy Officials. RESNET's mission is to qualify more families for home ownership and improve the energy efficiency of the nation's housing stock by expanding the national availability of mortgage financing options and home energy ratings. RESNET is guided by a National Mortgage Industry Steering Committee. The RESNET National Mortgage Industry Steering Committee is co-chaired by Leland C. Brendsel, Chairman and Chief Executive Officer of Freddie Mac and Donald E. Lange, President of the Mortgage Bankers Association of America and President and Chief Executive Officer of Weyerhauser Financial Services. Members of the steering committee are listed below.

	Robert J. Levine, Executive Vice President, Fannie Mae
	Geoff Dreyer, Managing Director, Norwest Mortgage, Inc.
	Thomas Jacob, Chairman and Chief Executive Officer, Chase Manhattan Mortgage
	Standford L. Kurland, President and Chief Operating Officer of Countrywide Home Loans
	R. Michael O'Brien, President, GMAC Mortgage
	W. Roger Haughton, President and Chief Executive Officer, PMI Mortgage Insurance
	Charles M. Reid, President and Chief Executive Officer, United Guaranty Corporation
	Robert M. O'Toole, Senior Staff Vice President, Mortgage Bankers Association of America
	Mark L. Korell, President and Chief Executive Officer, IMX Mortgage Exchange
	Stephen B. Ashley, President, The Ashley Group
	Ron J. McCord, President, American Mortgage and Investment Company

Reasons
The RESNET Mortgage Industry Steering Committee has identified the following reasons why the mortgage industry should support energy efficiency:

	Increase the volume of mortgage loans
	Qualify more first time home buyers for mortgage loans
	Reduce the cost of home ownership
	Reduce Americas dependence on imported oil and aid the environment

The ability to leverage a home buyer's investment in energy efficiency increases the number of qualified home buyers and increases the purchasing power of the consumer. A recent analysis by the Environmental Protection Agency confirmed that energy efficient mortgages can have a dramatic impact on increasing the opportunities for home ownership. The analysis found that an average of 6.8% more families would be able to qualify for a mortgage through an energy efficient mortgage.

Another study published in the Appraisal Journal documented that the market value of a home increases $20 for every $1 decrease in the annual energy costs. According to a recent analysis by the Pacific Northwest National Laboratory building a home to exceed the Model Energy Code would result in an annual savings of $170 to $425. Applying these findings to the analysis published in the Appraisal Journal would equate to an increased home market value of between $4,250 to $10,625. Fannie Mae, Freddie Mac, FHA and VA has adopted special underwriting guidelines to make financing energy efficiency less burdensome. The energy mortgage guidelines for each secondary mortgage market can be accessed by clicking their respective icons.

Links
RESNET Mortgage Lender Directory
(Lenders offering Energy Mortgages)

How Much Larger is My Market
(with the 2% stretch)

Energy Star
(Mortgage Products)

Appraisal Journal

Pulte Homes Survey