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SECTION 232 UPDATES

Office of Residential Care Facilities. SECTION 232 UPDATES. Tim Gruenes Workload Manager, ORCF Minneapolis HUD Office. OHP/ORCF – Who We Are. OHP (Office of Healthcare Programs) – Roger Miller – DAS ORCF (Office of Residential Care Facilities) Hospitals (242). OHP/ORCF – Who We Are.

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SECTION 232 UPDATES

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  1. Office of Residential Care Facilities SECTION 232 UPDATES

  2. Tim Gruenes Workload Manager, ORCF Minneapolis HUD Office

  3. OHP/ORCF – Who We Are • OHP (Office of Healthcare Programs) – Roger Miller – DAS • ORCF (Office of Residential Care Facilities) • Hospitals (242)

  4. OHP/ORCF – Who We Are • ORCF – Director – Michael Vaughn (as of mid-June will be Kelly Haines • Production: Director – Roger Lewis (Seattle) • Asset Mgmt: Director – Kelly Haines (St. Louis) • Policy: Director – John Hartung (St. Louis)

  5. OHP/ORCF – Who We Are • Designated Lender Relations Liaison is Mary Walsh – Ft. Worth: • Work with Lenders • Submissions for Development and Asset Mgmt • Measures of lender submission quality and risk profile • LQMD – • Lender Qualification • Post Closing Monitoring Activities

  6. A Much Brighter Picture!!!! • 2010: Loads of Applications, Hoping for more resources in 2011. • 2011: More Applications, We were in worse shape (total queue topped out over 400 projects). • Now: Next Few Slides…….. • We’ve hired staff and added contractors…..

  7. Office of Residential Care FacilitiesQueue Volume

  8. Office of Residential Care FacilitiesInflow & Outflow

  9. Section 232 Lean Phase II

  10. Section 232 Lean Phase II

  11. Section 232 Lean Phase 2External Delay Categories

  12. Section 232 UnderwritingNew Construction Risk Mitigation

  13. What’s New? • Proposed Rule/Document Revisions: • Comment Period until 7/2/12 • Webcast today @ 2:30 to 5 EST • Information on our HUD.GOV website

  14. What’s New? • We Created a Separate Queue for 241a’s • Preference in Other Queue for projects with TC’s/Other Grant Funds for Affordable Units

  15. What’s New? • Elimination of Legal Completeness Review: • HUD Legal Review at same time as Underwriting • Complete/Full Firm Submittal imperative given short queue

  16. What’s New? • Initial Screening of Other Queue Projects: • Diane Rosinski – Buffalo • Patrick Berry – Detroit – WLM • Dated submissions: if no longer feasible, request refund of app fee (before HUD assigns appraiser/UW).

  17. What’s New? Initial Screening Continued. • Projects Placed in one of 3 categories: • No Revision necessary • Minor Revisions necessary • Major Revisions necessary: • Removed from queue until corrected • If Corrected, project returns to same spot in queue relative to other projects – FIFO • Currently 13 Projects

  18. What’s New? Initial Screening Continued. • Some items being reviewed: • Compliance with previous Email Blasts: Experience, net worth/liquidity, equity investment. • IOD • Major Environmental Issues • Brief review of APPS/2530’s • Brief review of Forms

  19. What’s New? • Swap Fees: ML 2012-8 • Contact OHP/Contract Closer if Firm Commitment issued (not closed) and want to include. • We’ll be clarifying what we want to see in future submissions in Email Blast – until checklists/narratives can be revised.

  20. What’s New? • Policy Staff Working on Mortgagee Letters: • Eligible Debt • Portfolios/Master Leases

  21. What’s New? • Projects with Common Ownership: • Per November 2011 Email Blast, identify on initial request form fro FHA Number and Certification for Electronic Submittal. • If recommending no Master Lease separate issue – present risk based reasons to UW.

  22. What’s New? Revenue Funding Cuts. • If enacted (Medicare recently), reflect in appraisal and in Underwritten NOI • If proposed (Illinois): • If possible to quantify, show in sensitivity analysis how project may be affected – can still cover at 1.45 and 1.0 DSCR? • Discuss owner/operator’s plan to deal with them if enacted.

  23. Section 232 Delinquencies

  24. Section 232 Claims FY 2010 - 2012 • Type UPB Cohort Property City State Cause • AL 1,514,988 2002 BARSTOW RET.PL. BARSTOW CA Market/Owner • AL 2,111,004 2009 MAPLEWOOD RIDGE PELHAM AL Owner • AL 1,125,079 2005 RIVER BIRCH RES. HOLFORD MN Market/Owner • AL 4,933,963 2002 SUNAPEE COVE GEORGES NH Owner • BC 1,231,477 1995 ESSEX MANOR SUPERIOR MI Market/Owner • BC 1,613,754 1998 LANDMARK MANOR HAMPTON PA Market/Owner • BC 512,990 1997 LANDMARK MANOR HAMPTON PA Market/Owner • NH 26,482,547 2003 SOMERSET HOUSE CHICAGO IL Owner/State • NH 3,917,200 2002 FOX RIVER PAV. AURORA IL Owner/State • NH 4,588,799 2001 JAMES S TAYLOR LOUISVILLE KY Owner • NH 6,229,592 2000 WEST ROCK HC E. N. HAVEN CT Owner/State • NH 3,963,459 2008 PECAN RIDGE LC WACO TX Owner /State • AL 7,864,276 2000 GARDEN PK VILLAS ESCONDIDO CA Owner • AL 5,299,558 2008 NORTHPORT HLDS NORTHPORT MI Market/Owner • AL 3,317,582 2009 RIVER BEND AL VALLEY AL Owner • AL 2,637,155 2003 HEARTLAND PLAZA MOORE OK Market/Owner • NH 3,729,042 2001 FAIRCHILD MANOR LEWISTON NY Owner • NH 2,514,427 2008 GOVALLE CARE CTR AUSTIN TX Owner • NH 1,644,127 2003 NORTHVIEW DV CTR EASTLAND TX State/Owner • AL 21,183,217 2006 Lenox on the Lake Lauderhill FL Market/Owner • NH 3,988,697 2003 SouthPark Brownwood TX State/Owner • NH 988,953 2002 San Augustine San Augustine TX State/Owner

  25. Thank-You! Tim.gruenes@hud.gov Or Leanthinking@hud.gov

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