The U.S. Department of Housing and Urban Development has issued Mortgagee Letter 2012-8 that sets forth HUD’s policy for defining the indebtedness eligible for refinancing in connection with healthcare (Sections 232 and 242) projects, and in connection with multifamily projects to include interest rate swap termination fees. The letter applies to debt to be refinanced in connection with Section 223(f), substantial rehabilitation, or replacement facility projects. The letter is effective immediately.
Click here to read Mortgagee Letter 2012-8.
