News

Housing Stimulus: FHA Lowers Rates for Affordable and Energy Efficient Properties
6/10/2016

Housing Stimulus: FHA Lowers Rates for Affordable and Energy Efficient Properties

Reduce rates, spur activity. That seems to be the thinking in Washington these days regarding the development of affordable and energy efficient multifamily housing. And to those in the housing industry, that thinking is definitely welcome.

1/29/2016

FHA Lowering Mortgage Insurance Premiums for Affordable Multifamily Housing

The U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) announced proposed changes to the fiscal year (FY) 2016 mortgage insurance premiums (MIPs) for select FHA multifamily insurance programs. The proposed changes are a result of FHA’s healthy multifamily portfolio (which currently has a historically low default/delinquency rate of 0.15%), its effort to simplify rate structures, and its commitment to providing affordable housing and promoting energy efficiency.

FHA Financing with REITs: Time to Reap the Benefits
6/3/2015

FHA Financing with REITs: Time to Reap the Benefits

Traditionally, Real Estate Investment Trusts (REITs) have had difficulty obtaining debt financing via the U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) programs due to discrepancies between FHA requirements and REIT characteristics in regard to income distributions. Therefore REITs have not been able to reap the substantial benefits derived from using FHA as a permanent financing structure. Chief among the benefits of FHA financing are the long term, fixed interest rate and nonrecourse element—all very attractive features to seniors housing owners. Now, due to recently released updates to the HUD LEAN processing handbook, the program is substantially more accessible as a long-term financing option for REITs that utilize project level debt.

The Right Permanent Financing Option: When FHA is Better Than Banks
10/13/2014

The Right Permanent Financing Option: When FHA is Better Than Banks

An affordable housing developer stands at a crossroads. With low-income housing tax credits (LIHTCs) and plans for a construction project firmly in hand, a major decision awaits. 

FHA-Insured Loans: Reduce Rates Through Note Modification
2/19/2014

FHA-Insured Loans: Reduce Rates Through Note Modification

When the nonprofit owners of a senior living facility in Nebraska looked to refinance their current loan insured by the U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA), they considered a little known program that has not been widely used in the past—note modification. 

1/8/2014

Harvey to Lead Important Mortgage Banker Association Committee for FHA Multifamily, Health Care Servicers

Lancaster Pollard is pleased to announce that Michelle (Shelly) A. Harvey, vice president and servicing manager, recently has been appointed chairperson of the Mortgage Bankers Association (MBA) Multifamily Council’s FHA Servicers Subcommittee, according to Brian Pollard, senior managing director of the national investment banking, mortgage banking and investment advisory firm headquartered in Columbus, Ohio. Her term of service is for one year.

10/30/2013

Note Modifications: When the Time Is Right

A small Texas nonprofit hospital took advantage of a loan modification to refinance $21 million in HUD-insured tax-exempt bonds, reducing interest rates from 4.5 percent to 3 percent. And the transaction was completed in just four months. Check out this HFMA Strategic Financial Planning feature. The article was written by Scott Blount, CFA, a vice president at Lancaster Pollard in Austin, Texas.

Facility Improvement: Using FHA Sec. 241(a) to Stay Competitive
10/16/2013

Facility Improvement: Using FHA Sec. 241(a) to Stay Competitive

Senior care providers are faced with the ever-present need to stay competitive within their markets. A big part of which is having updated facilities that meet the demands and needs of today’s and tomorrow’s senior living resident.

A Safe Landing: How a Timely Project Reaped Big Benefits
10/15/2013

A Safe Landing: How a Timely Project Reaped Big Benefits

Whenever a new affordable multifamily property is constructed, both the developer and the community benefit. Although, sometimes, it’s more than just for the obvious reasons.

9/8/2013

Funding the Future

The September/October issue of Senior Living Executive highlights, “Funding the Future.”  The article discusses how favorable investment metrics bring more capital sources to providers’ front doors and features Lancaster Pollard Senior Managing Director Brian Pollard as an industry expert.