OpportunityTitle: Energy Innovation Fund PowerSaver Pilot 203(k) Program
AdditionalInformationOnEligibility: Applicants for grant assistance under this NOFA are limited to  existing FHA-approved Lenders with a minimum loan volume of 300 Section 203(k) loans insured by FHA in FY 2012 (October 1, 2011 through September 30, 2012).   These lenders are as follows:  Wells Fargo, Prospect Mortgage, Bank of America, Prime Lending A Plains Capital Company, Real Estate Mortgage Network,  Michigan Mutual, American Financial Resources, AmeriFirst  Home Mortgage, and Fifth Third Bank.  Title II FHA-approved lenders who were previously selected to participate in the initial Title I PowerSaver Pilot are automatically eligible to participate in the PowerSaver Pilot 203(k) Program, but are not eligible to receive additional grant funds provided through this NOFA.
Description: The purpose of this Notice is to expand the current PowerSaver Retrofit Pilot program to FHA&#146;s Section 203(k) home purchase and rehabilitation program, by making grants available to currently-approved Section 203(k) lenders for this purpose. The overall goals of the PowerSaver Retrofit Pilot Program are: (1) to facilitate the testing and scaling of a mainstream mortgage product for home energy retrofit loans that includes liquidity options for lenders, resulting in more affordable and widely available loans than are currently available for home energy retrofits; and (2) to establish a robust set of data on home energy efficiency improvements and their impact &#150; on energy savings, borrower income, property value, and other metrics &#150; for the purpose of driving development and expansion of mainstream mortgage products to support home energy efficiency retrofits.
GrantorContactEmailDescription: For questions about this Notice contact Michael Freedberg.
GrantorContactText: Michael Freedberg  &lt;br/&gt;Office of Sustainable Housing and Communities &lt;br/&gt;Phone 202-402-4366