A.3.8.4 Green and Energy Efficient Housing

A. Green and Energy Efficient Housing has an annual MIP rate category of 25 basis points and applies to projects committed to industry-recognized green building standards coupled with a commitment to demonstrate continuing performance with an ENERGY STAR® score of not less than 75.

B. Detailed requirements for meeting the green building standard certification requirement and the continuing performance requirement for this MIP Rate are described in MAP Guide Chapter 6.

C. To ensure that the benefits of this MIP rate directly benefit the properties and residents, Lenders submitting applications for loans using this MIP rate are limited in the total loan fees they may charge on any loan greater than $2 million, to no more than 5 percent of the insured loan amount. Loan fees include: (a) origination and placement fees as permitted by this MAP Guide; plus (b) trade profit, trade premium or marketing gain earned on the sale of the Government National Mortgage Association (GNMA) security at a value above par, even if the security sale is delayed until after endorsement; minus (c) loan fees applied by the Mortgagee to its legal expenses incurred in connection with loan closing. However, Section 223(a)(7) applications are exempt from the Lender fee limitation to the extent that trade premium is used to offset prepayment penalties on the existing insured loan.