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Fannie Mae Updates Guidelines for Green Rewards and Delegates Review to Lenders

On May 22, Fannie Mae (FNMA) released an update to its 4099 guide, with changes to requirements for High Performance Building reports. New requirements take effect for assessments engaged on or after May 22, 2017. This update brings good news to lenders and consultants, with some process refinement and quicker turns. What this means for lenders Delegated Underwriting and Servicing (DUS) lenders are now required to review and score High Performance Building reports. A score between 1 and 3 will be given based ... Read more

Nova Anticipates Strong 2017 in International Markets

Despite financial wobbles in Europe, tremors from Brexit, and uncertainty following the US presidential election, Nova is happy to report that 2016 was a brilliant year for our International business, and 2017 is shaping up to be even stronger. Nova’s business in Europe, Australia and Asia continues to grow across a variety of sectors. We believe this is partly due to strong USD exchange rates but also, largely, to the level of service and quality of products Nova offers its clients both ... Read more

New to the Nova Team – February 2017

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Freddie Mac announces multifamily green building financing initiative

Freddie Mac announced earlier this month their Multifamily Green Advantage program, a suite of offerings rewarding borrowers who improve their properties to save energy and water with discounted loan pricing. Tipping the scales for financing upgrades to multifamily housing toward sustainability, this new program from Freddie Mac has the potential to unleash large amounts of capital for green building improvements. This is very good news for green building. Property owners who commit to reduce energy and water consumption by at least 15 percent ... Read more

Nova’s Equity Markets Group Meets Your Needs and Goals with Custom Scopes

I am excited to join Nova Consulting as the Equity Group Manager and to expand the Equity platform here at Nova. Acknowledging that there is no “one size fits all,” our group is committed to providing Nova clients with customized solutions at all points in the real estate cycle. This starts with understanding the scope of a project. We advise in areas such as acquisition, disposition, pre/mid/post-lease, and capital planning. In this article, we will introduce some of the Equity Markets ... Read more

Did You Know? Coal Ash Ponds Found to Leak Toxic Materials

The environmentally detrimental effects of coal ash are not new; however, recent studies are shedding further light on the impact of unlined coal ash ponds to the environment. You should make sure that your consultant is doing their historical due diligence and checking that these types of facilities aren't near your property. Nova's ESA Group National Practice Leader reviews a recent article on the subject. Studies by Duke University at 21 power plants in five southeastern US states have shown toxic heavy ... Read more

ASTM Update on New Seismic Requirements

The American Society of the International Association for Testing and Materials (ASTM) has recently adopted new standards for seismic risk assessments. The old standards, ASTM E2026-07: Standard Guide for Seismic Risk Assessment of Buildings and ASTM E2557-07: Standard Practice for Probable Maximum Loss (PML) Evaluations for Earthquake Due-Diligence Assessments, have been replaced with ASTM E2026-16a: Standard Guide for Seismic Risk Assessment of Buildings (“Guide”) and E2557-16a: Standard Practice for Probable Maximum Loss (PML) Evaluations for Earthquake Due-Diligence Assessments (“Practice”). The new ... Read more

The Importance of Considering Dew Point When Increasing Insulation in Existing Buildings

Many of Nova’s clients seek our help in retrofitting existing buildings, with the goal of reducing utility expenses. Often, we are asked to evaluate the impact of additional insulation on an exterior wall. This is a tricky subject to navigate and depends on a variety of factors. In International Energy Conservation Code (IECC) Zones 5 and higher, retrofitting an exterior wall with additional insulation carries a risk of moving the dew point within the wall. This can create a condition in which ... Read more

Environmental Compliance Reviews

An environmental compliance review evaluates the operations and equipment at a property, determines the applicable environmental requirements, identifies where gaps exist, and presents a pathway to compliance. Compliance gaps may be caused by many factors, including acquisition of new operations, the continuous development of new environmental regulations, facility growth or expansion, and personnel changes resulting in loss of inherent knowledge. The above operations and equipment may trigger air permit requirements, EPA NESHAP requirements, water discharge permitting, spill plan development, waste disposal management ... Read more

Team Building and Community Service Come Together at Nova

Nova is committed to corporate giving and community service. Last month, the Administrative team (Accounting, Associate Management, Human Resources, and Recruiting) in Chaska, MN, decided to organize a fundraising activity for local charities as their team building event. The team chose to brew and bottle a couple of fun specialty beers at a local brewery, Vine Park Brewery in St. Paul, MN. “Our hope was that people would be interested in making a monetary donation in support of our selected charities in ... Read more
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