Mortgage Insurance_Hospitals

 

To facilitate the affordable financing of hospitals for the care and treatment of persons who are acutely ill or who otherwise require medical care and related services of the kind customarily furnished only or most effectively by hospitals.

General information about this opportunity
Last Known Status
Active
Program Number
14.128
Federal Agency/Office
Agency: Department of Housing and Urban Development
Office: Office of Housing-Federal Housing Commissioner
Type(s) of Assistance Offered
GUARANTEED/INSURED LOANS
Program Accomplishments
Not Applicable.
Authorization
242, 1715z U.S.C.
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
Qualified applicants can be either profit or not-for-profit hospitals licensed or regulated by the State, municipality, or other political subdivision. At least 50 percent of the care must be for general acute patients as of June 2012.
Beneficiary Eligibility
Persons needing the services of these hospitals benefit by using the modernized facilities supported by the insured mortgages.
Credentials/Documentation
Documentation regarding the characteristics of the property and the qualifications of the mortgagor are assembled by the mortgagee and submitted with the application. A Certificate of Need from the appropriate State agency is needed if that State has a Certificate of Need process. This program is excluded from coverage under OMB Circular No. A-87.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is required. Environmental impact information is not required for this program. This program is eligible for coverage under E.O. 12372, "Intergovernmental Review of Federal Programs." An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review.
Application Procedure
This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. The sponsor submits a formal application to the Office Healthcare Programs, Room 6264, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410.
Award Procedure
The Federal Housing Commissioner makes final decisions to approve, hold, or reject individual applications.
Deadlines
Not Applicable.
Approval/Disapproval Decision Time
From 60 to 90 days. Processing time depends upon the complexity of the proposal and the degree of preparation by the sponsor. 60 days is the goal for non-complicated applications.
Appeals
If an application for mortgage insurance is refused, the reasons for the refusal will be stated. The applicant may reapply.
Renewals
The term of a commitment to insure advances is typically effective for 90 days from the date of issuance and may be extended for good cause.
How are proposals selected?
Not Applicable.
How may assistance be used?
HUD insures lenders against loss on mortgages. The loans may be used to finance the construction, modernization, equipment, or refinancing of acute care hospitals.
What are the requirements after being awarded this opportunity?
Reporting
No reports are required.
Auditing
In accordance with the provisions of OMB Circular No. A-133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that expend financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133. The Department of Housing and Urban Development reserves the right to audit the accounts of either the mortgagee or mortgagor in order to determine their compliance and conformance with HUD regulations and standards.
Records
Mortgagees and mortgagors are required to service and maintain records in accordance with acceptable mortgage practices of prudent lending institutions and FHA regulations. Records must be kept in accordance with State and Federal Regulations during the construction phase.
Other Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula.
This program has no matching requirements.
This program does not have MOE requirements.
Length and Time Phasing of Assistance
The mortgage term is 25 years. See the following for information on how assistance is awarded/released: insurance of advances for construction projects.
Who do I contact about this opportunity?
Regional or Local Office
None.
Headquarters Office
Ivy M. Jackson, 451 7th Street, SW Rm 6264 , Washington, District of Columbia 20410 Email: Ivy.M.Jackson@hud.gov Phone: (202) 402-2333.
Website Address
http://www.fha.gov/healthcare
Financial Information
Account Identification
86-4077-0-3-371.
Obligations
(Guaranteed/Insured Loans) FY 13 $889,000,000; FY 14 est $1,050,000,000; and FY 15 est $1,100,000,000
Range and Average of Financial Assistance
No Data Available.
Regulations, Guidelines and Literature
Not Applicable.
Examples of Funded Projects
Not Applicable.

 



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