Federal Housing Administration-insured multifamily and healthcare loans shouldn’t be lumped together with any single family loans because they have a much stronger performance record and are actually cash flow positive, a lender said in his testimony on behalf of the Mortgage Bankers Association during a Congressional hearing on Thursday. Loans made through certain multifamily and […]
Category: HUD
Affordable senior housing will be part of the social safety net going forward and could even help solve federal budget woes, says a nonprofit organization that’s utilizing government programs and grants in a concerted effort to meet the upcoming “tremendous need” for affordable housing as the nation’s senior population expands. National Church Residences, based […]
Back in February, the Department of Housing and Urban Development (HUD) announced it would raise mortgage insurance premiums on several Federal Housing Administration (FHA) loan programs, including for some of its healthcare facility loan programs widely used in the senior housing industry. Several industry trade groups, including the American Seniors Housing Association, the National Association of […]
In the current credit environment, financing through the U.S. Department of Housing and Urban Development (HUD) has become a favorite of borrowers. With its low, long-term fixed rates, flexibility, nonrecourse feature and other benefits, HUD is often the best available option for a borrower seeking to refinance or finance new construction or rehabilitation of a […]
After updating its multifamily rental project closing documents, the Department of Housing and Urban Development (HUD) moved on to the next task at hand: revising its healthcare facility documents “to utilize, as appropriate, the updated multifamily documents while also developing standardized healthcare facility-specific documents as necessary.” The updates have been a long time in coming, […]
The Department of Housing and Urban Development (HUD) recently revised a January 6, 2012 provision that had ended the authorization of construction starts prior to a loan commitment for new construction, substantial rehabilitation, and 241(a) projects, which insure mortgage loans to finance repairs, additions, and improvements to healthcare facilities with FHA-insured first mortgages or HUD-held mortgages. […]
The Department of Housing and Urban Development officially announced a change to mortgage insurance premiums for several Federal Housing Administration loan programs, including for Section 231 Elderly Housing and Section 232 Health Care Facility loans, as previously mentioned in President Obama’s 2013 budget. Commitments issued in fiscal year 2013 for market-rate New Construction/Substantial Rehabilitation loans under […]
With the popularity of the Department of Housing and Urban Development’s LEAN lending process among lenders and borrowers alike, HUD is hoping similar thinking applied to its Fire Safety Equipment Loan Program (FSELP) will launch it into wider usage, especially with a related CMS deadline for fire safety requirements coming up. In the 38 years […]
The Department of Housing and Urban Development (HUD) has proposed a rule to streamline requirements for mixed-finance developments through its Section 202 Supportive Housing for the Elderly program in a bid to encourage private market participation. The rule would “remove restrictions on the portions of developments not funded through capital advances, thereby lifting barriers on […]
The Department of Housing and Urban Development (HUD) has officially “busted through” the infamous queue for its Section 232 program, it revealed at the Eastern Lenders Association Conference held in New York in early March. Michael Vaughn, the acting director of HUD’s LEAN Section 232 program, “dropped a bomb” on attendees regarding the status of […]
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