President Obama’s 2013 Federal Budget was released just in time for Valentine’s Day, in which the Department of Housing and Urban Development (HUD) revealed its plans to raise mortgage insurance premiums on many of its loan programs, including its healthcare facility lending, in a bid to mitigate future loan risks and woo the private market […]
Category: HUD
Carol Galante, current acting Federal Housing Administration commissioner, made it one step closer Tuesday to holding a permanent spot in FHA’s chief position. A Senate committee voted Tuesday in favor of making Carol Galante’s position permanent, following her nomination from President Obama in October. The decision now goes to a full Senate vote. The Senate […]
Lancaster Pollard announced it closed a record number of loans under the Department of Housing and Urban Development’s healthcare programs in fiscal year 2011. The loans totaled over $400 million, up 74% from last year according to data from the agency. “In a time when conventional financing has continued to be difficult to obtain, the […]
The U.S. Department of Housing and Urban Development announced the commitment to insure a $37.1 million mortgage for Knox Community Hospital in Mount Vernon, Ohio. The loan is made possible through the Federal Housing Administration’s Section 242 hospital mortgage insurance program. “By helping to make projects like this possible, FHA is not only improving the community’s […]
Red Mortgage Capital provided permanent financing for three assisted living senior communities in Ohio using the Federal Housing Administration’s 232 program and Ginnie Mae’s MBS. Premier Senior Living, a New York based owner and operator used the loans to pay off interim financing provided by Red Capital Partners. The three FHA LEAN loans totaling $19,920,000 […]
The Senate is considering passing a minibus appropriations bill, which includes fiscal year 2012 Transportation, Housing and Urban Development’s funding reports LeadingAge. The bill would make permanent changes to Section 3 of the U.S. Housing Act of 1937 by making any family on a fixed income (social security included) get re-certified every 3 years. This […]
A specific part of U.S. House of Representatives Committee for Transportation Housing and Urban Development (THUD) appropriations bill is getting applause from the American Health Care Association and the National Center for Assisted Living (AHCA/NCAL). First reported by SHN, the appropriations bill says that inspections for facilities insured under HUD’s Section 232 program can be duplicative with state and […]
Aging advocacy group LeadingAge (formerly American Association of Homes and Services for the Aging, or AAHSA) is pushing for support for the Department of Housing and Urban Development’s Section 202 program, currently “under attack” by the Senate. Funding for the 202 program, which provides financing for low-income senior housing as well as rent subsidies for the projects […]
Nursing homes and assisted living facilities financed with loans insured by the Department of Housing and Urban Development’s 232 program could see a bit less regulation as a result of the U.S. House of Representatives Committee for Transportation Housing and Urban Development (THUD) appropriations bill. According to a report submitted by Tom Latham (R-Iowa), Subcommittee […]
The U.S. Senate Appropriations Committee for Transportation, Housing and Urban Development (THUD) is providing $369 million in funding for the Section 202 Housing program, 51% less than the amount requested by the Obama Administration for fiscal year 2012. The committee’s appropriation is $387.3 million below the administration’s budget request and almost $30 million less than fiscal […]
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