Facilitators are the Key
It is believed by many that more Energy Efficient Mortgages have been done in the Sacramento Region than the rest of the Nation combined. Since this is not specifically tracked it is not possible to confirm it. One thing is certain though, this region has done a very significant share of all EEMs that have been done to date.
I have to laugh when people suggest that this is the result of my efforts over all of these years as if I am some modern day Johnny Appleseed. This is certainly flattering and I hope I have played a role through my efforts. The reality though, is that the real credit belongs to the capable EEM Facilitators that we utilize a lot in this region, and the strong support of the local Realtor Association in hosting training events and functions over all of these years.
Facilitators basically function as a “Project Manager” for this specialized component of the transaction. They make this process very easy for us. Although Loan Officers create tremendous goodwill and loyalty among Clients and Realtors by allowing buyers to benefit from the EEM opportunity, the direct financial benefit for including an EEM is negligible.
I listened to an “Expert” Consultant tell a room full of people at a CPUC Financing Workshop in San Francisco that the reason why the EEM had never really caught traction was because no buyer was going to add additional expense into their home loan when they were already scared and nervous about the process and payment. In the real world, I have never had a single buyer in 18 years that had an opportunity to do an EEM that didn’t choose to do it. In fact, concerns over their budget and home maintenance expenses is one of the primary reasons they do choose to pursue this when properly explained. The real reason that most Loan Officers and Realtors avoid EEMs is that they are unaware that Facilitators are available to manage all of the details and coordination of EEM’s and ensure that the transactions will not be delayed.
I provided flow charts of the Energy Efficient Mortgage under the HERE model and the traditional model. When you look at the complexity of the process, it is understandable why so many Realtors, Loan Officers, and Contractors are resistant EEMs. However, when a Facilitator is involved, you will probably understand why everyone who actually does these, and understands the Facilitator model,experiences this as an incredible and easy program.For those who understand the program based only on the way it is described in the guidelines I can appreciate why they do not realize how well this can actually work.
There are several capable Facilitators, and I don’t know them all. However, I have had the pleasure of working with Bobbi Glassel at Synergy EEM, Tom Caruthers Federal Energy Services and Keith Cherry at Cherry EEM Management over the years. All of them have proved to be a tremendous asset to the process when we have clients that can benefit from an EEM.
When I was trying to figure out how to explain how essential the facilitators are to this process, I asked my Transaction Coordinator to share her opinion on this. I decided to include her response as she wrote it.
“Facilitators are an integral part of our team when we have EEMs. They are a resource that makes the process much smoother and more complete. They hold the buyers hand from the beginning until the work is all completed and the Contractor has been paid. The Facilitators assist in coordinating the rating and ensuring that the work is completed in a timely manner that is satisfactory to the new homeowner. Buying a home is a very stressful and intimidating process for a lot of people. They are already overwhelmed with decisions they need to make. The Facilitator presents and explains the energy options in an easy to understand format that simplifies the choices and makes the decisions much easier for the buyer.
Our clients have had nothing but praise and gratitude to have a Facilitator present to answer questions and reinforce what we have already told them. The best part is that the Facilitator coordinates to schedule the Contractor in to do the work on the house once the loan is closed. They make sure the homeowner is happy with the results and then they follow through with us to make sure that the Contractor funds are released from escrow. It is a symbiotic relationship in which all parties gain in the end while we get to focus on doing what we do best – providing the financing for the client.”
Sacramento 1st DBA Comstock Mortgage – Lic : 01390474
Kevin Nunn – NMLS 305826 / DRE 01158674
