In a video released Nov. 5, Genworth Mortgage Insurance urged mortgage lenders to learn more about appraising and underwriting homes constructed in an environmentally sustainable way.
A branch of Genworth Financial Inc, the firm said greater numbers of constructed homes have been built or retrofitted with green modifications that impact their value and affordability. And, those numbers are expected to rise.
"In 2011, about 17% of residential construction was green homes, according to a National Association of Home Builders study conducted with McGraw Hill Construction. By 2016, green homes are expected to be 29% to 38% of the market by value, possibly reaching about $114 billion of activity," said Chief Appraiser Adam Johnston.
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