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News & Press: Sacramento Report

CLTA Joins Coalition Letter to Dept. of Business Oversight on PACE Rulemaking

Tuesday, January 16, 2018  
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The CLTA in January joined a coalition of trade industry and consumer groups, including the California Association of Realtors, California Bankers Association, and others, in submitting a letter to the Department of Business Oversight (DBO) on its proposed regulations dealing with the Property Assessed Clean Energy (PACE) program. The letter was submitted at the request of the DBO, which is seeking feedback on its proposed rule.

The coalition in its comments stressed the need for additional safeguards for California consumers with regard to PACE in an attempt to stem abuses that could arise out of the fact that the same agents that solicit home improvements are the same as solicit the financing for those improvements.

The safeguards suggested in the letter include provisions relating to property value determinations and an ability to repay determination, among others.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851