NCSHA Letter to CFPB on R-PACE Proposed Rule
On July 26, 2023, NCSHA sent a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra regarding the proposed rule on Residential Property Assessed Clean Energy Financing (R-PACE). The letter urges the CFPB to add a requirement to the rule directing R-PACE financiers to report R-PACE financings to credit bureaus and to a homeowner’s mortgage loan servicer. The letter also requests the CPFB require more explicit homeowner disclosures and expand its study of the R-PACE financing industry.
