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Agency and FHA-Insured Lending


Overview

Carlton Fields represents numerous publicly traded and privately held financial institutions and mortgage bankers nationwide in all aspects of Fannie Mae and Freddie Mac (GSEs), and FHA-insured financings, through the U.S. Department of Housing and Urban Development (HUD) on multifamily, affordable, health care, and senior citizen housing transactions. 

We advise clients in connection with agency lending on an array of loan products, perform due diligence reviews, provide transaction documentation, analyze and advise on ownership structure, collaborate directly with the GSEs to obtain programmatic waivers, and ensure proactive legal support at all stages of the loan closing process to produce efficient closings and seamless delivery. Our services include advising on the origination, sale, pooling, securitization, and servicing of multifamily and commercial mortgage loans.

In our HUD/FHA-insured financing practice, we counsel clients on acquisition, refinance, rehabilitation, and new construction transactions for multifamily and health care facilities under the 223(a)(7), 223(f), 232/223(f) and 221(d)(4) loan programs. The practice includes tax-exempt bond financings enhanced by HUD insurance, Government National Mortgage Insurance Association mortgage-backed securities, IRP decoupling, and transfer of physical assets transactions. Our lawyers have effective working relationships with HUD headquarters and local office professionals. In addition, we regularly represent lender clients on bridge lending transactions in connection with the eventual refinancing into FHA-insured lending programs.

Experience

  • Represented a national agency lender in connection with the acquisition and assumption of a $27 million CEMA loan secured by a multifamily property located in New York.
  • Represented a national agency lender in connection with the closing of an approximately $68 million 10-loan portfolio secured by affordable and market rate multifamily properties located in North Carolina.
  • Represented a national agency lender in the creation of a $250 million credit facility with DUS® execution.
  • Represented a national agency lender in connection with the closing of a $39 million refinance loan secured by a two-phase, market rate multifamily property requiring a restructuring of ownership located in Tennessee.
  • Represented a national agency lender in the origination and closing of a $9.4 million assumption and $4.6 million supplemental loan in the DUS program secured by a multifamily property in Newport News, Virginia.
  • Represented a national agency lender in an $8.7 million Freddie Mac CME® to refinance multifamily properties located in Clermont County, Ohio.
  • Represented a national agency lender in an $11.7 million acquisition under the DUS Green Rewards™ program secured by a multifamily property located in Mecklenburg County, North Carolina.
  • Represented a national agency lender in connection with the acquisition and assumption of a first and supplemental loan totaling $14 million secured by an affordable multifamily property in Massachusetts, owned by tenants in common who were the subject of title issues and pending lawsuits requiring resolution prior to close.
  • Represented a national agency lender in connection with the closing of a $50 million refinance loan secured by a market rate multifamily property located in Maryland.
  • Represented a national lender in a $128 million loan, the largest single-asset HUD refinancing of its time.
  • Represented a national lender in a $500 million assumption of a health care portfolio for assisted living and senior living facilities across the country.
  • Represented a national lender on $94 million board-and-care facility in Florida, the largest single-asset senior housing community in HUD’s portfolio.
  • Represented a national lender in multiple new multifamily new construction transactions involving HUD financing and tax-exempt 4% bonds.
  • Represented the developers of a 183-acre master-planned community in Florida in $101 million HUD-insured new construction financing.

Disclaimer

The information on this website is presented as a service for our clients and Internet users and is not intended to be legal advice, nor should you consider it as such. Although we welcome your inquiries, please keep in mind that merely contacting us will not establish an attorney-client relationship between us. Consequently, you should not convey any confidential information to us until a formal attorney-client relationship has been established. Please remember that electronic correspondence on the internet is not secure and that you should not include sensitive or confidential information in messages. With that in mind, we look forward to hearing from you.