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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 66 J O U R N A L May 2023 Single-Family business to be acknowledged for our outstanding contributions to increas- ing adoption of energy-efficiency improve- ments in housing. Fannie Mae, an ENERGY STAR partner since 2011, is committed to creating positive environmental, social, and economic out- comes through mortgage finance. Leveraging its green financing business, Fannie Mae supports the single-family and multifamily housing markets by financing homes and multifamily communities that meet energy- and water-saving standards through green building programs and energy and water efficient improvements. "We are proud to continue to lead the way with our work to advance sustainabil- ity efforts in multifamily housing, as our 2022 Multifamily Green Mortgage-Backed Securities (MBS) exceeded $9 billion," said Karyn Sper, Senior Director, Multifamily Green, Healthy Housing, and Duty to Serve, Fannie Mae. "Our Green Mortgage Loan programs make a positive impact in commu- nities across the United States by creating environmental efficiencies that help increase affordability for renters nationwide." Fannie Mae introduced its Multifamily Green Financing products to the market in 2011 and securitizes these loans as Green MBS. Since 2012, Fannie Mae has issued more than $110 billion in Multifamily Green MBS and continues to build on its mission to make affordable—and increasingly green- er—housing accessible in both the multifam- ily and single-family markets. The Single-Family business has been recognized each year as an ENERGY STAR Partner of the Year since the launch of Single-Family Green MBS in 2020. These Green Bonds include mortgage loans backed by single-family homes with green building certifications that meet or exceed the nation- al program requirements for ENERGY STAR Certified Homes Version 3.0, which are, on average, 20% more efficient than single-fami- ly homes built to code. "In 2022, Single-Family's Green MBS program surpassed $1 billion in annual issu- ances, and we continue to demonstrate our commitment to achieving positive outcomes by financing single-family homes that exceed energy-standards," said Arthur Johnson, VP of Capital Markets, Fannie Mae. "We are honored that our ongoing efforts to improve energy efficiency and the quality of sin- gle-family housing played a key role in this year's 2023 ENERGY STAR recognition." Since its inception in 1992, ENERGY STAR and its partners have helped prevent a total of more than 2.4 billion metric tons of greenhouse gas emissions. In 2015 alone, ENERGY STAR and its partners saved American businesses and consumers 503 billion kilowatt hours and $34 billion on their energy bills, while achieving broad emission reductions. CFPB ISSUES GUIDANCE ON ABUSIVE FINANCIAL CONDUCT C FPB has drawn up a policy state- ment that provides an analytical framework to assist federal and state agencies in holding companies accountable when in violation of the law. The Consumer Financial Protection Bureau (CFPB) has announced the issuance of a policy statement that explains the legal prohibition on abusive conduct in consumer financial markets and summarizes more than a decade of precedent. The CFPB leads en- forcement and supervision efforts to identify and end abusive conduct against consumers. In 2010, in response to the financial crisis, Congress passed the Consumer Financial Protection Act and created the prohibition on abusive conduct. The Act tasks the CFPB, federal banking regulators, and states with the responsibility to enforce the prohibition and puts the CFPB in charge of adminis- tering it. The CFPB's new policy statement will assist consumer financial protection enforcers in identifying wrongdoing and will help firms avoid committing abusive acts or practices. "In response to the predatory mortgage lending practices that drove the financial crisis, Congress banned abusive conduct in consumer financial markets," CFPB Director Rohit Chopra said. "The CFPB issued today's guidance to provide an analytical framework to help federal and state agencies hold com- panies accountable when they violate the law and take advantage of families." Since the passage of the Consumer Fi- nancial Protection Act, the CFPB has brought Since its inception in 1992, ENERGY STAR and its partners have helped prevent a total of more than 2.4 billion metric tons of greenhouse gas emissions.