Mortgage Insurance Hospitals
Active
- Assistance listing
- 14.128
- Agency
-
Assistant Secretary for Housing Federal Housing Commissioner
Department of Housing and Urban Development
- Grant awards
- Not on record
Program facts
- Also known as
- (Section 242 - Mortgage Insurance for Hospitals)
- Treasury account
-
- 86-4077-0-3-371
- More information
Program details come from SAM.gov Assistance Listings. Updated .
About this program
The Department of Housing and Urban Development's Federal Housing Commissioner administers the Mortgage Insurance Hospitals program (CFDA 14.128) to provide mortgage insurance for acute care hospital facilities, with no recent grant award or opportunity data available in the source material to establish current program activity or next application deadline.
The program facilitates affordable financing of hospitals providing acute and emergency medical care, ranging from large teaching institutions to small rural critical access hospitals. Eligible applicants are profit or not-for-profit hospitals licensed or regulated by a state, municipality, or other political subdivision, provided at least 50 percent of their care is for general acute patients. The program covers underwriting and asset management of FHA-insured hospital loans. Commitment to insure advances runs for 90 days from issuance and may be extended for good cause; the Federal Housing Commissioner targets 60-day processing for non-complicated applications. If an application is refused, the applicant may reapply after receiving written reasons for the denial. Mortgagees and mortgagors must service and maintain records according to acceptable mortgage practices of prudent lending institutions and FHA regulations, with compliance subject to HUD audit.
The source provides no recent grant awards, award volume trends, funding concentration data, or economic envelope figures. No grant opportunities are currently open or recently posted. Business development professionals should contact HUD's Federal Housing Commissioner office directly to determine current program status, whether this program remains an active funding vehicle for hospital financing, and whether recent mortgage insurance commitments have been issued under this Assistance Listing.
Objective and description
- Objective
To facilitate the affordable financing of hospitals for the care and treatment of persons who are acutely ill or who otherwise require medical care and related services of the kind customarily furnished only or most effectively by hospitals.
- Description
Provides mortgage insurance for acute care hospital facilities ranging from large teaching institutions to small rural critical access hospitals. Also supports underwriting and asset management of FHA -insured hospital loans.
Eligibility
- Applicant eligibility
Qualified applicants can be either profit or not-for-profit hospitals licensed or regulated by the State, municipality, or other political subdivision. At least 50 percent of the care must be for general acute patients as of June 2012.
- Beneficiary eligibility
Persons needing the services of these hospitals benefit by using the modernized facilities supported by the insured mortgages.
- Uses of assistance
HUD insures lenders against loss on mortgages. The loans may be used to finance the construction, modernization, equipment, or refinancing of acute care hospitals.
- Length and time phasing of assistance
The mortgage term is 25 years.
How to apply
- Award procedure
The Federal Housing Commissioner makes final decisions to approve, hold, or reject individual applications.
- Time to approval or disapproval
Processing time depends upon the complexity of the proposal and the degree of preparation by the sponsor. 60 days is the goal for non-complicated applications.
- Renewals
The term of a commitment to insure advances is typically effective for 90 days from the date of issuance and may be extended for good cause.
- Appeals
If an application for mortgage insurance is refused, the reasons for the refusal will be stated. The applicant may reapply.
Quick answers
What is Assistance Listing 14.128?
Assistance Listing 14.128 is Mortgage Insurance Hospitals, a federal grant program run by Assistant Secretary for Housing Federal Housing Commissioner (Department of Housing and Urban Development).
What is the CFDA number for Mortgage Insurance Hospitals?
Its CFDA number is 14.128: Assistance Listing numbers were called CFDA numbers before 2018.
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