Early this month, the Federal Housing Finance Agency took PACE to task for a lack of performance and underwriting standards.
The fear was that PACE financing is too unproven to be given priority over mortgage loans.
Because the agency regulates government mortgage giants Fannie Mae and Freddie Mac, its words carry big clout. As a result, many of the PACE programs taking root in 23 states came to a halt.
Read more: http://www.greentechmedia.com/articles/read/paces-respectable-track-record/
