Sec. 250.
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Title V of the National Housing Act ( 12 U.S.C. 1731a et seq. ) is amended by adding at the end the following new section: Notwithstanding any other provision of law, including section 208 of this Act, no 1 to 4 unit property with a mortgage insured, guaranteed, made, or held by the Secretary after the date of enactment of this section, shall be subject to a new residential Property Assessed Clean Energy (PACE or R-PACE) loan or equivalent financing without the PACE loan or equivalent financing provider obtaining prior written consent from the Secretary, subject to such terms and conditions as the Secretary may prescribe.
Any new PACE or R-PACE loan or equivalent financing that is entered into by a PACE provider absent such consent shall be deemed void ab initio and the PACE provider shall bear all costs associated with the transactions with no recourse against the homeowner resulting from the PACE transaction, including all costs incurred by any holder of an insured or guaranteed mortgage or the Secretary in obtaining good and marketable title. .
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U.S. Code