The Office of Hospital Facilities (OHF) held a one-day lender training on the new FHA Section 242/223(f) refinancing and acquisition program.  The training was held on Wednesday, July 31, 2013 in Washington, DC at  HUD Headquarters.

The 223(f) program provides hospitals that do not have an existing FHA Section 242 mortgage access to FHA-backed credit enhancement for refinance existing debt, without requiring new construction or renovation.

 The workshop provided lenders and consultants with a great opportunity to meet and interact with OHF staff while simultaneously learning about the new 223(f) application process and program requirements.  Nearly 50 lenders and consultants attended in person and over 85 joined in virtually online.  Together, their participation made the training session a great success.  There were many newcomers to this year’s training; in fact, more than 60% of this year’s participants did not attend the last lender training in 2011.

The workshop  was led by HUD staff members from a variety of offices and programs including:  the Office of Hospital Facilities, the Office of Healthcare Programs, the Office of General Counsel, and the Office of Risk Management.   Sessions included:

• FHA Section 242 and 223f Refinancing
• Legal Requirements
• Navigating the New 242 Handbook and Regulation
• The Pre-Application and Application Process
• Eligibility Requirements for 223(f) Refinancing
• Policies for Refinancing and Supplemental Loans
• New Forms 
• Related Office of Archictecture and Engineering Processes
• Other Helpful Tips and Updates