The national syndicated column “Nation’s Housing” featured the University of North Carolina’s study that found that ENERGY STAR homes are 32 percent less likely to default than were loans on homes with no energy-efficiency improvements. The Nation’s Housing column is carried by the leading newspapers in the U.S. including the Washington Post and Los Angeles Times. The column’s author Ken Harney, wrote: “Researchers took pains to statistically separate out factors other than energy-efficiency savings that might account for the strikingly different performances by borrowers on their mortgages. They controlled for house size; age of the house; neighborhood income levels; house values relative to the area median; local unemployment rates; borrowers’ credit scores; loan-to-value ratios; electricity costs; and even local weather conditions. The sample came from a giant mortgage data repository managed by CoreLogic, a California-based company that has access to millions of loan files and payment records supplied by major banks, lenders and servicers. The average sale price of both the energy-efficient homes and the others was approximately $220,000, removing the possibility that the energy-efficient properties were high-end houses purchased by families less likely to default.” To view the column go to Energy Efficient Homes are Less Likely to Have Problem Loans The University of North Carolina study also drew national media coverage with the news service “Market Wire” carrying a release. The release quoted Steve Baden, RESNET Executive Director, “”This is a real game changer. The finding that the lower the HERS® Score, the lower the mortgage risk should increase consumer, builder, lender, real estate agent and appraiser confidence in the HERS® Index Score. In light of these findings, RESNET calls on the mortgage industry to rationalize the underwriting process to take in consideration energy savings in the mortgage loan.” News outlets that carried the story include: TV Station ABC 11 (Raleigh, NC) TV Station ABC 13 (Houston, TX) TV Station ABC 7 (New York, NY) TV Station ABC 6 (Philadelphia, PA) TV Station CBS 3 (Philadelphia, PA) TV Station WLS (Chicago) CBS Marketwatch Minnesota Public Radio Albany Times Union Anchorage Daily News Buffalo News Columbus Dispatch Columbus Ledger Idaho Statesman Las Cruces Sun Lexington Hearld-Leader Minneapolis Star Tribune New York Daily Herald New York News Day Oakland Tribune Pasadena Star-News Sacramento Bee Wichita Eagle San Bernadino Sun Seattle Post Intelligencer Oil and Gas Journal Google News Yahoo News Yahoo Biz Bing News To view the posting go to Energy Efficient Homes Are Lower Mortgage Risks This national coverage should increase consumer and industry awareness of the value of energy efficient homes and home energy ratings.
