Letter to the President

President Barack Obama
The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500
 
Dear President Obama:
 
I would like to share some ideas that I believe could provide desperately needed help to our economy and environment.  Urgent action is required.  Please read on.
 
1. Require lenders who are refinancing homes that are more than 10 years old to offer the option of adding energy improvements to the refinance loan. This action will go a long way in improving our housing stock, lowering the borrower’s overall operating costs, getting construction workers working, employing energy raters and reducing our dependency on precious natural resources, improving our national security.  Lenders should be required to explain the options and ask the borrower to acknowledge (in writing) that he/she has been informed about and offered the EIM (Energy Improvements Mortgage)i.  
 
2. Require banks with foreclosure homes (again on homes more than 10 years of age) to have each home inspected for energy efficiency improvement opportunities and require this work to be done as a condition of selling the home. This, again, will get construction workers back to work, provide buyers reduced overall home operating costs, better collateral for the banks and reduce our nation’s addiction on natural resources, thereby improving our national security.  Water saving features could—and should—easily be added.
 
3. Require all Multiple Listing Services (MLS) systems for real estate to include fields on the MLS form indicating if the home has a green or energy efficient designation and any third party verifications. Initial indicators suggest that “green” homes (that are 3rd party verified as such) sell faster and for more money per square foot.
 
4. Encourage the development of Energy Efficiency/Green mortgage backed securities.  If lower loan default and foreclosure can be documented on these loans, the secondary markets may see these as a safer investment therefore creating a demand and thus resulting in a market driven lower rate for green and energy efficient homes. Linking renewable energy should be included. 
 
We need to strongly encourage ongoing builder, Realtor, appraiser and lender training on energy efficiency and green building.  
 
I have also reviewed the Architecture 2030 Two Year, Nine Million-Jobs Investment document www.architecture2030.org ). This is a well-conceived plan and also worth consideration and support.  I see you as a man of positive action. 
 
 “Time is not a renewable resource. We must invest it intentionally each day.” I would be honored to be of any assistance to you or your administration regarding these efforts. This is the time to act on these issues before it is too late.  Let’s take this opportunity to turn crisis into positive action that will have long-lasting effect on our citizens, our country, our economy and our world.  I’m ready to do my part.  I look forward to your response.  Thank you.
 
Respectfully,
David S. “Dave” Porter