ARTICLE · 08 JANUARY 2013

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), December 19, 2012

Pepper Hamilton LLP

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In an effort to summarize the highlights of the LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this quick synopsis of the latest LEAN update.

United StatesFinance and Banking

Christine Waldmann Carmody

In an effort to summarize the highlights of the LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this quick synopsis of the latest LEAN update. Our aim is to provide pertinent information succinctly as a roadmap to the LEAN E-mail Blasts, not to replace them. We hope you find these summaries helpful.

Revised 232 Loan Documents

On November 21, 2012, ORCF released the latest draft 232 loan documents for public comment. Comments on the loan documents were due on December 21, 2012. Available here are highlights of the loan documents that we believe are particularly important to lenders. There has not been an official timeline released for when ORCF hopes to implement the new loan documents, but the rumor is that Commitments issued after April 1, 2013 will be required to use the new loan documents. It remains to be seen if ORCF will meet this ambitious goal.

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