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Browsing Category "News"

SMF Uses Note Modification to Reduce California Hospital’s Interest Rate by 60%

Sims Mortgage Funding (SMF) and Parkview Community Hospital made history in 2011 when we closed the first-ever HUD-insured hospital refinancing loan under the Section 242/223(f) program.  That loan refinanced Parkview’s high-interest rate and very short-term bridge debt, providing the hospital […]
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Ten Years Later, SMF Tallies A Transactional Triple-Play for Affordable Elderly Housing Communities in Pennsylvania

Triple-plays are a rarity in major league baseball: since 1876, there have only been 723, for an average of about 5 per season.
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Dog Days of Summer = Positive HUD Program Developments

We’ve all heard the expression the “Dog Days of Summer”. According to The Farmer’s Almanac, the term refers to the period July 3 through August 11 when the sun is closest to the star Sirius, part of the constellation Canis Major, or the Greater Dog.
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SMF Uses Note Modification to Refinance Again an Affordable Elderly Housing Community in Brooklyn

Sims Mortgage Funding (SMF) recently served as Financial Advisor in connection with a $7,035,000 HUD-insured loan that closed in June for Marien-Heim of Sunset Park, a 169-unit, Section 8 elderly housing project sponsored by a local, not-for-profit community development organization. […]
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From the Jersey Meadowlands to the Bayou – Sims Mortgage Funding Has It Covered!

Although it is headquartered in New Jersey, Sims Mortgage Funding seems to have a second home in Louisiana – we have closed close to $530 million in HUD-insured loans in the Pelican State.
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HUD’s Three-Year Waiver – One Year Later

It has been just over one year since HUD waived its “three-year requirement” for multifamily projects to be eligible for mortgage insurance under the Section 223(f) refinancing and acquisition program.  Prior to that, a multifamily property could not benefit from […]
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What Do The Suez Canal and HUD Multifamily Mortgage Insurance Have In Common?

At first glance, that is an odd pairing, but stay with us, please.  The Suez Canal was prominent in the news last week when a container ship became stuck, blocking the Canal  and creating a massive logjam of ships at […]
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Hospitals and Healthcare Facilities Eligible for New HUD Financing

In golf it is called a mulligan. At the playground or school yard it is called a do-over. At the US Department of Housing and Urban Development (HUD) it is called an Operating Loss Loan (OLL).  Under the Section 223(d) […]
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Sims Mortgage Funding Closes Small Loan… Big Things Follow for Missouri Affordable Housing Provider

Sims Mortgage Funding is pleased to announce that we closed in late September a $3,237,200 loan for Opportunities Pavilion (OP), an 81 unit affordable, Section 8 elderly property in Kansas City, Missouri.
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Yogi Berra, Capital Markets Commentator?

Yogi Berra, baseball Hall-of-Famer and sometime philosopher, is said to have once remarked, “it’s déjà vu all over again”. If Yogi was alive today and made that comment, he could have easily been referring to the current low-interest rate environment, similar to what we experienced during the Great Recession of 2008, that has led to a New Wave of HUD-insured refinancing transactions.
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