Senior Housing and Healthcare Updates – January 2012

||Senior Housing and Healthcare Updates – January 2012

It is no secret that HUD’s LEAN program has had an underwriting queue in place for some time; however, there is significant evidence that suggests that queue times are shrinking. In fact, the a7 Green queue (existing HUD insured deals that are not seeking a term extension) has been eliminated and the a7 Regular queue is currently experiencing less than a 30 day wait! 

The following graphs illustrate the weekly queue movement for the 223f Refinance/Acquisition queue (non-portfolio) and the Other queue (new construction or sub-rehab.):   

Both queues show a positive trend, especially the 223f Refinance/Acquisition queue. In fact, it is expected that HUD will have eliminated that queue by Q2 2012. While the Other queue continues to move at a slow pace, we are hopeful that HUD will dedicate more resources towards that queue to help expedite new construction and substantial rehabilitation transactions, many of which are very time sensitive.

2012-01-09T10:08:07+00:00 Industry News|