Specifications include, but are not limited to: Service the benefit assessments (effectively, loan repayments) for all properties financed under the program. These activities shall include but not be limited to the following: Receive notice of loan closing from the Green Bank. Receive and process requests for C-PACE financing advances from the Green Bank for Green Bank originated transactions, drawn from a disbursement account established and funded by the Green Bank, and managed by the Loan Servicer. Track construction interest accrued on Green Bank loans during build out and until project completion. Interest is typically capitalized at completion and then amortized at the term interest rate. Occasionally a borrower will pay construction interest during the active build phase. C-PACE does have Power Purchase Agreements (“PPAs”) that will be serviced and treated as zero (0) interest loans. There are no disbursements but instead have collection periods matching the municipal cycle for the project location. Receive notice from the Green Bank of construction completion on non-Green Bank originations. Final disbursement serves as notice for Green Bank originated loans. Confirm to the Green Bank, for Green Bank funded loans, the total amount of financing upon completion of construction, including construction interest accrued, and final amortization schedule for revised lien filing. Prepare and send bills via mail and or email for all C-PACE transactions which are in repayment. This involves the following: o Maintaining a record of billing contact information and billing preferences (email, mail, or both) for all transactions o Maintaining accurate payment history records...
