Sims Mortgage Funding recently closed a $6,754,800 loan for the Lutherwood Apartments, a 125-unit, Section 8-subsidized senior housing project in Scranton, PA. The loan was insured under FHA’s program and features a 35-year amortization. The Sponsor was Diakon Lutheran Social Ministries, a Pennsylvania-based provider of healthcare, retirement housing, and social services to a wide array of communities.

Sims Mortgage Funding, Inc. (SMF) originates Federal Housing Administration (FHA) insured loans for the construction, rehabilitation, acquisition and refinancing of healthcare, senior housing and multifamily rental projects. Established in 1984, SMF is a subsidiary of Herbert J. Sims & Co. (HJ Sims), a nationally recognized investment banking firm that specializes in debt and equity financing for the senior living industry. SMF originates, processes and underwrites insured loan applications through the Multifamily Accelerated Processing (MAP) program, as well as FHA’s traditional processing protocols. We also have been approved to participate in FHA’s newest, most innovative option – Lean processing. In addition to traditional mortgage banking activities, SMF provides consulting and financial advisory services to FHA insured loan borrowers with respect to construction loan servicing, asset management, debt restructuring, and tax-exempt bond financing.