2nd UPDATE: Fannie, Freddie Derail White House-Backed Green Financing Program - WSJ.com: "An innovative green-energy financing program hailed by the White House as a way to cut greenhouse-gas emissions while creating jobs is in trouble after U.S. mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) vetoed the program.
The Federal Housing Finance Agency on Tuesday endorsed the mortgage giants' negative view of the program, called 'property assessed clean energy,' or PACE, and appeared to reject arguments by state and federal officials that loans made through the program are safe, even though repayment takes priority over mortgage loans. State officials, particularly in California, vowed ..."
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