HUD HEALTHCARE FACILITIES
Rockport Mortgage Corporation is an approved FHA Mortgagee and actively underwrites, funds and services FHA
insured mortgage loans on multifamily housing, seniors housing, assisted living and skilled care properties nationwide.
Rockport Mortgage Corporation is a Multifamily Accelerated Processing "MAP" approved Lender.
To further enhance the value RMC creates for its clients through financing services, we work with our clients
to thoroughly review available financing options and implement the financing option which meets both their
short and long term strategic and business needs. RMC provides services that have proven to provide significant
financial and strategic benefits to healthcare facility owners.
With a diversity of expertise and commitment
to personal service rarely found in mortgage banking today, RMC has created a professional style
that is uniquely its own. RMC will attempt to find creative ways to structure financing for your healthcare
facility.
New HUD Update:In mid 2008, HUD made changes to the 232 program and created the
LEAN program built on manufacturing principles to standardize
underwriting by lenders, and simplify and speed loan processing at
HUD.
In our view, HUD and the LEAN program have made significant
positive changes to achieve these goals. With the turmoil in the
capital markets, HUD has become the first choice for financing due
to the lack of capital available from other sources, and processing
times have increased consistently.
RMC is working with our clients on a variety of refinancing,
acquisition, substantial rehabilitation and new construction loans.
Fundamentally sound loans are being approved for our clients.
The FHA Mortgage Insurance Programs are available and may provide the most practical and attractive financing mechanism
for financing the following:
Provides mortgage insurance for the construction or rehabilitation of skilled nursing,
intermediate care, board and care, and assisted living facilities.
FHA's Section 232 program was recently amended to provide mortgage insurance for the
refinance of conventional (non-FHA insured) nursing homes, intermediate care facilities,
board and care homes and assisted living facilities (collectively, "Residential Care Facilities").
Provides mortgage insurance to borrowers for the refinance of a healthcare facility
currently insured by FHA. Available to profit motivated or non-profit borrowers and
healthcare projects.
Provides mortgage insurance for a supplemental loan for the purpose of improvements or
additions to a nursing home, an intermediate care facility or a group practice facility
covered by a FHA insured loan, without refinancing the existing mortgage.
Provides mortgage insurance for a supplemental loan for the purpose of improvements or
additions to a nursing home, an intermediate care facility or a group practice facility
covered by a FHA insured loan, without refinancing the existing mortgage.