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EagleBank Presents: 15 Things You Need to Know

Washington, D.C. Morning Brief Washington DC
Washington, D.C. Morning Brief
November 13, 2018 Bisnow
EagleBank Presents: 15 Things You Need to Know
EagleBank Provides Refinancing For
Herndon Memory Care Facility
EagleBank’s FHA Lending Division secured HUD approval to originate loans under FHA’s “Lean” healthcare program earlier this year, following the hiring of Chris Painter as Senior Vice President and FHA Chief Underwriter. The program provides for 35-year, fixed-rate financing for Assisted Living and Memory Care facilities and Nursing Homes nationwide. EagleBank quickly closed their first Lean healthcare loan on a project in Herndon, Virginia. The Bank was able to refinance an earlier EagleBank bridge loan which provided cash out to the sponsor, then utilized a GinnieMae MBS issuance to fund the FHA-insured loan for the 64-bed Memory Care facility in Herndon. 

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