Rockport Mortgage Corporation is an approved FHA Mortgagee and actively
underwrites, funds and services FHA insured mortgage loans on nursing homes, assisted
living and skilled care properties nationwide.
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.
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 through the HUD LEAN program.
Fundamentally sound loans are being approved for our clients.
The following FHA Mortgage Insurance Programs are available and may provide the
most practical and attractive financing mechanism for your healthcare facility:
New Construction / Rehabilitation LEAN
Provides mortgage insurance for the construction or substantial rehabilitation of skilled nursing, intermediate care, board and care, and assisted living facilities.
Refinance / Acquisition LEAN
FHA's Section 232 program was recently amended to provide mortgage insurance for the refinance of conventional nursing homes, intermediate care facilities (collectively, "Residential Care Facilities").
Supplemental Loans LEAN
Provides mortgage insurance for a supplemental loan for the purpose of improvements or additions to a multifamily community, a nursing home, an intermediate care facility or a group practice facility covered by a FHA insured loan, without refinancing the existing mortgage.
Hospital Financing LEAN
FHA's 242 Program was designed to provide mortgage insurance for new construction and renovations of acute care and critical access facilities nationwide. FHA insurance enables clients to enhance their creditworthiness because their debt is backed by the full faith and credit of the United States Government.