Healthcare Mortgage Insurance Program Handbook (4232.1)
Section 232 of the National Housing Act Office of Residential Care Facilities
| Handbook 4232.1 Complete Version - Rev 1 - Effective January 19, 2017 | |
| Transmittal - June 26, 2017 | |
| Transmittal - January 12, 2017 | |
| Cover Page | |
| Table of Contents | |
Section I - Handbook Introduction | |
| Chapter 1 - Introduction | |
| Chapter 2 - Lender Relations, Approvals and Monitoring Requirements | |
| Appendix 2.1 Resources | |
Section II - Production | |
| Chapter 1 - Introduction and Application Processing | |
| Chapter 2 - Eligible Section 232 Mortgage Insurance Programs | |
| Appendix 2.1 Calculating the Initial Operating Deficit Escrow | |
| Appendix 2.2 Resources | |
| Chapter 3 - Loan Sizing | |
| Appendix 3.1 Resources | |
| Chapter 4 - Architectural Analysis and Cost Processing | |
| Appendix 4.1 HUD Labor Relations Protocol Section 232 and 241(a) | |
| Appendix 4.2 Resources | |
| Chapter 5 - Appraisals and Market Studies | |
| Chapter 6 - Participant Credit and Financial Review | |
| Appendix 6.1 Resources | |
| Chapter 7 - Environmental Review | |
| Appendix 7.1 Resources | |
| Chapter 8 - Operator and Management Agent Analysis | |
| Appendix 8.1 Resources | |
| Chapter 9 - Closings | |
| Appendix 9.1 Resources | |
| Chapter 10 - Construction Period | |
| Appendix 10.1 Procedures for Requesting Approval for Commencement of Construction Prior to Initial Closing for Section 241(a)) | |
| Appendix 10.2 Instructions for Approval of Initial/Interim Advances | |
| Appendix 10.3 General Contractor’s Monthly Requisition Procedures | |
| Appendix 10.4 Specimen Letter – Request for Early Partial Release of Contractor’s Holdback | |
| Appendix 10.5 Suggested Signature Page Format for the Electronic HUD Master Set of Plans and Specifications | |
| Appendix 10.6 Resources | |
| Chapter 11 - Cost Certification | |
| Appendix 11.1 Windfall Calculation Example | |
| Appendix 11.2 Windfall Calculation Explanation | |
| Appendix 11.3 Resources | |
| Chapter 12 - LIHTC and other Tax Credit Program Guidance | |
| Appendix 12.1 Resources | |
| Chapter 13 - Master Lease | |
| Appendix 13.1 Pledge of Cash Flow Model | |
| Appendix 13.2 Master Landlord Structure | |
| Appendix 13.3 Alternative to Multiple Lender Master Lease | |
| Chapter 14 - Insurance Requirements | |
| Appendix 14.1 Professional Liability Insurance | |
| Chapter 15 - Accounts Receivable Financing | |
| Appendix 15.1 Resources | |
| Chapter 16 - Cash Flow Structures, Deposit Account Control Agreements (DACAs), and Deposit Account Instruction Service Agreements (DAISAs) | |
| Appendix 16.1 Sample Cash Flow Chart | |
| Appendix 16.2 Sample Cash Flow Chart | |
| Appendix 16.3 Sample Cash Flow Chart | |
| Appendix 16.4 Sample Cash Flow Chart | |
| Appendix 16.5 Resources | |
| Chapter 17 - Portfolios | |
| Chapter 18 - Insurance Upon Completion | |
| Appendix 18.1 Resources | |
Section III - Asset Management | |
| Chapter 1 - Asset Management Overview | |
| Chapter 2 - Controlling Documents | |
| Appendix 2.1 Resources | |
| Chapter 3 - General Loan Oversight | |
| Appendix 3.1 Resources | |
| Chapter 4 - Financial Operations | |
| Appendix 4.1 Resources | |
| Chapter 5 - Section 232 Risk Mitigation Branch and Asset Management Tools | |
| Appendix 5.1 Resources | |
| Chapter 6 - Departmental Enforcement Center | |
| Appendix 6.1 Resources | |
| Chapter 7 - Change in Ownership: Transfer of Physical Assets | |
| Appendix 7.1 Resources | |
| Chapter 8 - Operators and Management Agents | |
| Appendix 8.1 Resources | |
| Chapter 9 - New or Modification of Master Lease Structure | |
| Appendix 9.1 Resources | |
| Chapter 10 - Accounts Receivable Financing and Cash Flow Structures | |
| Appendix 10.1 Resources | |
| Chapter 11 - Presidentially Declared Disaster Guidance | |