Federal Housing Administration - Hospital Mortgage Insurance Program - Refinancing Hospital Loans (Us Department of Housing and Urban Development Regulation) (Hud) (2018 Edition)

Download or read book Federal Housing Administration - Hospital Mortgage Insurance Program - Refinancing Hospital Loans (Us Department of Housing and Urban Development Regulation) (Hud) (2018 Edition) written by The Law The Law Library and published by Createspace Independent Publishing Platform. This book was released on 2018-11-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal Housing Administration - Hospital Mortgage Insurance Program - Refinancing Hospital Loans (US Department of Housing and Urban Development Regulation) (HUD) (2018 Edition) The Law Library presents the complete text of the Federal Housing Administration - Hospital Mortgage Insurance Program - Refinancing Hospital Loans (US Department of Housing and Urban Development Regulation) (HUD) (2018 Edition). Updated as of May 29, 2018 This rule revises the regulations governing FHA's Section 242 Hospital Mortgage Insurance Program (Section 242 program) for the purpose of codifying, in regulation, FHA's implementation of its authority to refinance existing loans of hospitals without FHA-insured mortgages, without conditioning the exercise of such authority on the expenditure of funds for construction or renovation. Hospitals with FHA's Section 242 mortgage insurance may refinance existing debt under section 223(a)(7) of the National Housing Act, and such refinancing under section 223(a)(7) is not conditioned upon the hospital undertaking new construction or renovation. When credit availability contracted considerably in 2008, FHA, in 2009, commenced the exercise of its authority to refinance the capital debt of hospitals without section 242 mortgage insurance. FHA exercised this authority through notices issued on July 1, 2009, and February 22, 2010. FHA initiated rulemaking to make this refinancing authority a permanent part of the Section 242 regulatory program through a January 29, 2010, proposed rule, which solicited comment on HUD's implementation of this refinancing authority to date. This book contains: - The complete text of the Federal Housing Administration - Hospital Mortgage Insurance Program - Refinancing Hospital Loans (US Department of Housing and Urban Development Regulation) (HUD) (2018 Edition) - A table of contents with the page number of each section