Services Provided

Expanded Scope of Services

We are a boutique firm specializing in HUD loan insurance for hospitals. We take on a limited number of clients and service them with senior banking professionals.
Our services go beyond structuring your loan, filing an application with HUD and securing funding. As your mortgage banker/project financial manager, we become an integral part of your project team. We welcome the opportunity to become involved with a project at its earliest stages, and will work with you and other team members to identify potential problems that may affect the financing and resolve them before they impact the project’s timing.
We have the expertise to, and routinely coordinate the efforts of the architect, contractor, feasibility and environmental consultants. We will educate them with respect to the requirements of the HUD 242 program, assign tasks and monitor their progress to make certain we all arrive at the closing at the same time and fully prepared.
After construction is complete we assist our clients in all matters concerning their HUD-insured loan and their relationship with the HUD staff for the life of the loan. We routinely monitor title, update previous participation clearance, negotiate covenant exceptions and special requests. You are not left on your own to deal with HUD.

Consult with and coordinate the work of Hospital’s staff, financial advisors, consultants, auditors and architects to develop a comprehensive understanding of the Hospital and its objectives.
Prepare RFPs for the feasibility consultant, architect and construction manager, if not already retained, and assist in the negotiation of contract terms to assure compliance with HUD requirements.
Assist in the preparation, submission and processing of approvals and amendments for the CON (if required).
Assist the Hospital and its counsel in reviewing loan terms, resolutions, indentures and other legal documents in connection with the proposed transaction.
Prepare analyses of the various debt placement options available to fund the anticipated HUD-insured loan.
Complete and submit HUD’s Preliminary Review Package.
Plan and assist the Hospital in the preparation for the Pre-Application Meeting with HUD.
Consult with the Hospital’s feasibility consultant regarding the scope and assumptions of the required study.
Prepare and file an application for HUD mortgage insurance.
Negotiate security and covenants in the HUD loan documents.
Work with Hospital’s attorneys on the closing documents.
Coordinate all parties for closing.

We are one of the only firms in the HUD Hospital program whose senior bankers stay with you following closing. The banker who originates your loan and understands your project will assist you in servicing the construction and permanent mortgage.
Our primary objective during the construction phase is to ensure that the project progresses smoothly. Toward that end, we work with the project team to fund the construction requisitions in a timely manner, to see that change orders are reviewed and approved promptly, and that the loan is closed-out as quickly as possible after substantial completion. To that end we:
- Assemble and check each monthly requisition submitted to HUD.
- Maintain a running budget by project line item.
- Obtain title insurance updates and coordinate funding of advances.
- Attend project meetings to identify issues affecting the project or the financing.
- Correspond with HUD, as necessary, to obtain approvals or address issues.
- Review, submit and process change orders received from the construction manager.
- Negotiate requests for changes in the HUD documents and requirements.
- Assume responsibility for coordinating efforts to finally endorse the loan.

Monitor title and HUD previous participation clearance.
Monitor payment of insurance, special municipal assessments and mortgage insurance premiums.
Correspond with HUD, as required or as requested by the Hospital.
Represent the Hospital in all requests to HUD for covenant exceptions, collateral releases, MIP rebates, etc.