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E-M:/ Press Release

Enviro-Mich message from Joel Wiese <joel@twelve29.com>

Thought you all would enjoy seeing the latest win for the Michigan environment. I know I didn't talk about the environmental impact on air quality for Michigan in my release, but this is a big first step in the right direction to reduce Michigan's energy dependence on fossil fuels, and to clean up our air as well. Thanks again for all your support! Here's to a greener way to live!

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Contact: Joel Wiese
Phone: 517.483.5121
Fax – 517-483-5114


Indigo Financial Group first in Michigan to close an energy-efficient conventional mortgage.

Lansing, MI (November 23, 2004) – Indigo Financial Group broke new ground this month by being the first mortgage company in Michigan to successfully
close a conventional Energy Efficient Mortgage. The new homeowner with the Energy Efficient Mortgage will be saving $740 a year in utility costs, and
in this case will be reducing their monthly payment by $60 as compared to a conventional mortgage payment.

With the Energy Department estimating natural gas prices up 15% and fuel oil up 37% this winter, the Energy Efficient Mortgage, created by Fannie Mae and
offered by Indigo Financial, is a smart and economical way for homeowners and buyers to quickly lower their monthly bills.

According to Indigo loan officer Joel Wiese, it’s a tool that can save 30% to 50% on utility costs annually.

Not only do Energy Efficient Mortgages lower utility costs year after year, they also increase the value of homes, and have a significant environmental
impact. And they can be done with a new home purchase or a refinance.

This unique home financing option begins like any other mortgage with the application for the loan. Once a homebuyer has been pre-qualified, the home
is subject to an energy audit to determine its efficiency.

The applicant then gets to choose from a “menu” of improvements that will help contribute to the efficiency of the home. Everything from windows and doors, heating and cooling systems as well as hot water heaters, appliances, lighting and photovoltaic systems (solar power) can be selected — and they will also see what they will save in utility costs each year.

The funds for the improvements are placed in escrow and rolled into the mortgage when the work has been completed after the closing takes place.

Wiese states that this product is not designed for do-it-yourselfers, as lenders require a guarantee that costs will not spiral out of control.

Homeowners do have the freedom, however, to specify a contractor or favorite brand of appliance.

Another unique aspect of the Energy Efficient Mortgage is that the amount the homeowner can borrow to make improvements is based on 15% of the appraised value, rather than on the equity that is available.

For example, for a $120,000 home, the homeowner could borrow roughly up to $18,000 when making improvements.

“The majority of homeowners in America know they are throwing their hard earned money away with old windows and inefficient appliances. The good news is that you now have the ability to make a change very quickly and affordably, and put your money to better use.” Wiese said.

As Fannie Mae’s Bob Sahadi, Vice President for Housing Impact agrees. "The savings that can result from energy-efficient homes can make homeownership more affordable for individuals and families. We know that those who spend less on energy costs can put more toward the cost of purchasing and maintaining a home. Fannie Mae is pleased to partner with Indigo Financial Group to offer such an innovative mortgage product.”

Because the Energy Efficient Mortgage can be used on purchases and refinances in conjunction with every government and conventional mortgage program and it meets all federal lending requirements, it’s a familiar process. That’s why realtors are excited about it as well — it gets people into a home and helps them quickly add value to it.

In fact, Carol Shaheen, Managing Broker for Tomie Raines, Inc. sees this as a program that will change the very nature of how people buy and improve homes. “Buyers can afford a home in a certain price range, but often cannot then afford the upgrades needed to make the home energy efficient. The Energy Efficient Mortgage lets them do the necessary upgrade above their loan amount. We would like to see more homebuyers take advantage of this innovative mortgage program. It’s a true win/win for the buyers and the environment.”

Indigo Financial Group is a mortgage company based out of Lansing that serves the state of Michigan with the Energy Efficient Mortgage. For more information, visit Indigo Financial Group online at www.EnergyEfficientMortgages.com or by phone (517) 483-5121, toll-free (877) 867-7095.


The Energy Efficient Mortgage promotes the design, construction, and operation of efficient new homes, and the renovation of existing homes to be energy efficient. The Energy Efficient Mortgage closed by Indigo utilizes the product developed by Fannie Mae for use by its lender partners.

Eligible Energy Efficient Mortgage mortgages closed by Indigo will be delivered to Fannie Mae for purchase. Fannie Mae (FNM/NYSE) the nation’s largest source of financing for home mortgages, offers the Energy Efficient Mortgage product to its lenders in support of the new goals under Fannie Mae’s American Dream Commitment®. This Commitment supports, among other goals, smart "fair growth" principles that call for revitalizing communities using existing infrastructure, building a variety of housing types and densities for people of all ages and incomes, developing housing near mass transit, and building "green" to protect the environment and lower home costs.

The American Dream Commitment is a registered mark of Fannie Mae. Unauthorized use of this mark is prohibited.

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