Rising utility rates create financial risk for owners and reduce affordability for tenants of multifamily properties. To combat this challenge and multifamily properties’ impact on the natural environment, the Fannie Mae Multifamily Mortgage Business (Fannie Mae) launched the Green Initiative. By 2014, Fannie Mae had financed $130 million in Green Preservation Plus loans or in loans that are backed by properties with a Green Building certification. These loans are securitized as Green Mortgage Backed Securities (Green MBS), a securitization standard set by Fannie Mae. Green Preservation Plus provides up to an 85% loan to value ratio for owners of affordable housing to transform their property through energy efficiency, water efficiency, and general property improvements.