HUD issues new 232 Reporting Requirements
HUD announced additional financial reporting requirements for Operators on loans offered through the HUD 232 program effective for the quarter ended 3.31.2015. New finanical reporting will be required via the HUD Healthcare Portal. HUD is making contact to notify all loans affected. More information is available on the HUD website, or click this link for the detailed letter: HUD 232 Operator Financial Statements Memo
Oppenheimer TOP 10 in HUD Multifamily Lending Commitments for 2014.
Despite a general slow-down in FHA production this year, OMHHF again ended the year as one of the TOP 10 FHA lenders by receiving and closing firm commitments in excess of $350 million. The MBA issued its most recent report during November. Joe Funk, Chief Operating Officer, acknowledges this has been a competitive market for new originations business but is pleased with the achievements of our firm. In addition to its’ core FHA products, the company has increased lending opportunities through sourcing of CMBS products and bridge loans. The new lending programs, along with the implementation of technological advancements made during 2014 has OMHHF poised for growth in 2015. Jim Moore, President & CEO is optimistic about the potential for new healthcare business and construction loan financing for the company.Date 8/05/2014
$4 Billion in Loan Servicing
Oppenheimer Multifamily Housing & Healthcare Finance, Inc. proudly announces the total balance of their loan servicing portfolio surpassed the $4 billion mark with the closing of its most recent loans during the month of July. Oppenheimer has seen steady growth in its’ loan fundings over the past few years and has increased its Ginnie Mae Multifamily Housing and Healthcare portfolio by 33% and 18% in 2012 and 2013, respectively. The Company has been a top 10 HUD lender since 2011 when it doubled its portfolio by funding almost $1.3 billion that year. 2012 and 2013 activity funded almost $1 billion in new loans respectively. Recently, a 232 deal, Windsor Place of Wilmington, an Assisted Living/Nursing Facility closed for $18 million and Stone Creek Village Apartments, a 223(f) multifamily project for $34 million.
Oppenheimer Multifamily Housing & Healthcare Finance, Inc. offers a full range of financing products with an emphasis on multifamily and healthcare lending. More recently, the Company has teamed up with their parent to take advantage of private funding sources for a bridge program to offer a more immediate source of funds to its government lending programs. For more information, please email Jim.Moore@OPCO.com.
“We knew through vast professionals who we work with closely, that Oppenheimer Multifamily & Healthcare Finance, Inc. was well versed in refinancing concurrently working with HUD and their regulations. Although it was an arduous process, Oppenheimer was able to work with all the disciplines and create a refinancing package that extended our mission of serving seniors in a gracious living environment for decades to come. It was a joy to work with this group!”
Rev. Carol D. Jubenville
The Community at Sunset Wood