Industry and Consumer Groups Unify to Support CFPB PACE Rulemaking
A broad coalition of consumer advocates, credit unions, and banking associations joined in a comment to the CFPB supporting its recent rulemaking efforts to regulate residential property assessed clean energy (PACE) loans. The signatories support the CFPB’s proposed rule, including the application of mortgage lending regulations to PACE loans. The signatories also recommend that PACE loans not be given priority over other pre-existing mortgages, and emphasize the importance of applying the Secure and Fair Enforcement for Mortgage Licensing Act requirements.
