Argentum’s Capital Advisory Board will host a meeting this week featuring Housing and Urban Development (HUD) Principal Deputy Assistant Secretary, Frank Cassidy. The meeting is an opportunity for senior living leaders to share insight on the housing and financial challenges facing the industry in preparation for a rapidly aging society, and for HUD to share the Trump Administration’s priorities and efforts to address these challenges.
Frank Cassidy previously spent 14 years as a commercial mortgage banker specializing in FHA and agency financing. At HUD, he has been leading efforts to implement an “Express Lane” initiative to expedite the processing of Section 232 mortgage insurance applications for low-risk healthcare facilities, including seniors housing. The Express Lane initiative may potentially reduce processing times for qualified applications from the standard 90-120 days (and sometimes up to 18 months) down to 30-60 days. This is done by reducing documentation requirements, providing queue priority for eligible applicants, and is intended or repeat borrowers and operators with a strong track record of financial stability, operational excellence, and regulatory compliance.
Frank will also be joining an upcoming Argentum-led roundtable at HUD Headquarters in Washington, D.C. to continue the conversation on opportunities to address senior housing supply challenges.