Property Assessed Clean Energy (PACE)
Dear Licensed Partner,
In accordance with HUD ML 17-18, Sun West requires outstanding Property Assessed Clean Energy (PACE) or HERO obligation to be paid off at or prior to loan closing on FHA loans effective with cases assigned on or after January 6, 2018.
- Click here to access HUD ML 17-18 for revised policy on properties with PACE/HERO obligation.
The updated guidelines are available in General Requirement section in Underwriting Guide for Forward Mortgage.
- To access the guideline for wholesale channel, please click here.
- To access the guideline for correspondent channel, please click here.
For additional questions not answered by the guideline, please email Sun West's underwriting scenario desk at uwscenarios@swmc.com for more information.
If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.
Sincerely,
18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884
This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.
