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ARTICLE · 01 OCTOBER 2010

Long Term Care Industry Service Group Alert - HUD

Williams Mullen
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"Portfolio Review" is a term that long term care facility owners and HUD-insured lenders are hearing more frequently.

United StatesFinance and Banking
Joel Nied
Joel Nied

"Portfolio Review" is a term that long term care facility owners and HUD-insured lenders are hearing more frequently. Although portfolio review is not a new concept at HUD, the current economic situation is making the procedure more prominent. With greater frequency, multi-facility borrowers are under pressure to refinance loans. Because the CMBS market cannot provide the volume of loans necessary, many borrowers increasingly are turning to HUDinsured loans to refinance their facilities. Other borrowers are simply interested in taking advantage of historically low interest rates. As a result, HUD has found itself in somewhat unfamiliar territory – handling a significant number of loans secured by multiple facilities owned by a single borrower or an affiliated group of borrowers.

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