92000-ORCF Appraisal Sockets

Comprehensive Listing of Transactional Documents for Mortgagors, Mortgagees and Contractors

92000_orcf.xlsx

Transactional Documents for Mortgagees and Contractors

OMB: 2502-0605

Document [xlsx]
Download: xlsx | pdf

Overview

Sockets
Lender Notes


Sheet 1: Sockets


Version Control Number 11.7.2017 Application Overview











Unit Schedule










Rates



Private Pay Comparables








Occupancy and Census Comparables











Revenue Forecast


















Expense History









Expense Comparables






























Sales Comparison Data
























Appraisal Sockets U.S. Department of Housing and Urban Development OMB Approval No. 2502-0605


































































Supplemental Data Input - Not a Required Input







Supplemental Data Input- Not a Required Input


1
2
3
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5
6
7
8
9
10
11
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13
14
15





Select



















Section 232 Office of Residential Care Facilities (exp. 11/30/2022)
Project Name

Select What is the property's Investment Grade Indicate the historical financial data periods reported. Note: If 4 periods of income data are not available leave the oldest slots blank, not the newest. If supplemental data is added (not required), direct input the dates.

Project Unit Type Care Type Room Type # of Units # of Beds Baths Unit Sq. Ft. Current Rent Appraisal Rent Rental Rate Bed or Unit Notes
Medicare Rates:



Project Unit Type Rent Comparable Name Care Type Room Type Beds or Units Unadjusted Rate Adjusted Rate Gross Total Adjustments Notes
Care Type Occupancy and Census Comparable Name Occupancy Rate Occupancy / Census Survey Time Period Private Pay Medicare Medicaid Veterans Admin HMO (Insurance) Other Total

Period FY 1900 FY 1900 FY 1900 FY 1900 Appraisal (Market) Lender (for DSCR) Enter Period Enter Period Enter Period
Expense Categories FY 1900 FY 1900 FY 1900 FY 1900 Appraisal (Market) Lender's DSC Enter Period Enter Period Enter Period
Expense Comparable Name






























Unit Types Sale Comparable Name City State Sale Date Bulk Sale Sales Price Year Built # of Units # of Beds Private Pay % Medicare % Medicaid % Other % Occ. % Sales Data Info Source Date of NOI Sale Income Growth Cap Rate Unit of Comparison Unadjusted Price Adjusted Price Gross Adjustment % EGIM Expense Ratio Comments/Important Factors


Project Street Address

Select Is the subject operated as a non-profit?

Historical Average RUG Rate:
Time Period:




Income Source Total $ # of Days Total $ # of Days Total $ # of Days Total $ # of Days Total $ # of Days Total $ # of Days Total $ # of Days Total $ # of Days Total $ # of Days

City






























Public reporting burden for this collection of information is estimated to average 0.5 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. The information is being collected to obtain the supportive documentation that must be submitted to HUD for approval, and is necessary to ensure that viable projects are developed and maintained. The Department will use this information to determine if properties meet HUD requirements with respect to development, operation and/or asset management, as well as ensuring the continued marketability of the properties. Response to this request for information is required in order to receive the benefits to be derived from the National Housing Act Section 232 Healthcare Facility Insurance Program. This agency may not collect this information, and you are not required to complete this form unless it displays a currently valid OMB control number. While no assurance of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request.

Warning: Anyone who knowingly submits a false claim or makes a false statement is subject to criminal and/or civil penalties, including confinement for up to 5 years, fines, and civil and administrative penalties. (18 U.S.C. §§ 287, 1001, 1010, 1012; 31 U.S.C. §3729, 3802).

City

Select Is there or will there be a ground lease?
A Select Select
- Select


Select









SN-Private-pay


















e.g. General & Administrative









State
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select

Select
Select








Select Select Select
Select






State

Select Will the project have any encumbrances such as rent, occupancy or private restrictions?







B Select Select
- Select


Select

Medicaid Rates






SN-Medicaid


















e.g. Payroll Taxes and Benefits









Year Built






























Select

Select
Select








Select Select Select
Select






FHA Number

Select Does the underwritten income include any commercial income?
Begin Date End Date Period Type

Headers
C Select Select
- Select


Select

Published Rate:
Rate Date:




SN-Medicare (Part A)


















e.g. Resident Care









Gross Square Footage






























Select

Select
Select








Select Select Select
Select






Lender (Firm)


Not A Required Question Oldest Period ˃

Fiscal Year (FY) 0 days FY 1900
D Select Select
- Select


Select







As a percentage of the census mix.

SN-HMO/Ins/Medicare (Part C)


















e.g. Food Services









Occupancy


0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Select

Select
Select








Select Select Select
Select






Lender (UW Name)


Not A Required Question


Fiscal Year (FY) 0 days FY 1900
E Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

SN-Veterans Admin (VA)


















e.g. Activities









Unit Count by Mix






























Select

Select
Select








Select Select Select
Select






Mortgage Amount

Select Are the real estate taxes based upon an abatement or special tax consideration?


Fiscal Year (FY) 0 days FY 1900
F Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

e. g. SNF-Other Payers


















e.g. Housekeeping & Laundry









Skilled Nursing beds






























Select

Select
Select








Select Select Select
Select






Mortgage Term (in months)

Select Does the underwritten income include adult day care income? Most Recent ˃

Fiscal Year (FY) 0 days FY 1900
G Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

ALF-Private-pay


















e.g. Maintenance









Assisted Living beds






























Select

Select
Select








Select Select Select
Select






Mortgage Interest Rate


Not A Required Question







H Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

ALF-Medicaid


















e.g. Utilities









Memory Care beds






























Select

Select
Select








Select Select Select
Select







Mortgage Ins. Premium (MIP)


Not A Required Question

The appraisal analyzed the project's financial data through what date?



I Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

ALF-Other


















e.g. Insurance (property & liability)









Independent Living units






























Select

Select
Select








Select Select Select
Select





1. This workbook is to be filled out and accompany each appraisal submitted to ORCF for the 232/223(f) refinance program. Other programs that involve new construction will not use this form. The data may be entered by the appraiser or by the lender. It is however the lender's responsibility to ensure the entries are correct.



Select Is the building's footprint changing?





J Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

MC-Private-pay


















e.g. Marketing and Promotion









Total
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Select

Select
Select








Select Select Select
Select






Appraisal Firm

Select Has the property sold (or pending) within 3 years of the appraisal date?





K Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

MC-Medicaid


















e.g. Ground Rent









Payor Mix (enter as % of resident days)






























Select

Select
Select








Select Select Select
Select






Appraiser Name

Select Not A Required Question







L Select Select
- Select


Select






Select
Select Select Select




Select

Select





0.0%

MC-Other Payers


















e.g. Bad Debt









Private Pay






























Select

Select
Select








Select Select Select
Select







Date of Valuation


Not A Required Question







Total


-











Select
Select Select Select




Select

Select





0.0%

IL-Private-pay


















Other [delineate]









Medicare






























Select

Select
Select








Select Select Select
Select





2. Input information into cells that are shaded this color green.
Appraised Value


Not A Required Question
























Select
Select Select Select




Select

Select





0.0%

IL-Other Payers


















Other [delineate]









Medicaid






























Select

Select
Select








Select Select Select
Select





Optional Information can be added to cells with this color yellow.
Underwritten Value










Other Unit Description
















Select
Select Select Select




Select

Select





0.0%

Residential Revenue Achieved $0 0 $0 0 $0 0 $0 0 $0 0 $0 0 $0 0 $0 0 $0 0
Other [delineate]









Other






























Select

Select
Select








Select Select Select
Select





The data entered calculates to a number that exceeds the parameters for that data i.e. occupancy in excess of 100%
Cost Approach Conclusion (if utilized)

Market






a.
d.










Select
Select Select Select




Select

Select





0.0%

Medicare Part B


















Other [delineate]









Total
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Select

Select
Select








Select Select Select
Select







Income Capitalization Conclusion

Select Is the project's market population, target population, real estate values, or employment base declining?






b.
e.










Select
Select Select Select




Select

Select





0.0%

e.g. Therapy


















Sub-total $0 $0 $0 $0 $0 $0 $0 $0 $0
































Select

Select
Select








Select Select Select
Select





3. Cells displaying the word "Select" contain predetermined drop-down for you to select from. Only use the responses in the drop down list.
Appraiser's Capitalization Rate









c.
f.










Select
Select Select Select




Select

Select





0.0%

e.g. Level of Care Fees


















Real Estate (Property) Taxes









Effective Gross Income (per year)






























Select

Select
Select








Select Select Select
Select







Sales Comparison Conclusion

Select Are there any negative market influences that require special consideration?
























Select
Select Select Select




Select

Select





0.0%

e.g. Second Occupant Fees


















Management Fees









Expense Categories






























Select

Select
Select








Select Select Select
Select





4. Some cells (see below) include instructional aids to complete the responses. The pop-up can easily be moved to a different location on the sheet by left clicking on the pop-up.
Year Built

Select Will the project be impacted by a current/projected oversupply of competitive units?













Select
Select Select Select




Select

Select





0.0%

e.g. Misc./Assessment Fees


















Replacement Reserves









e.g. General & Administrative






























Select

Select
Select








Select Select Select
Select






Remaining Economic Life (in years)

Select Have new units/beds been approved for construction, completed construction within the past year, or are currently in lease-up within the PMA?












Select
Select Select Select




Select

Select





0.0%

e.g. Commercial Space


















Total Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0
e.g. Payroll Taxes and Benefits






























Select

Select
Select








Select Select Select
Select







Lender Proposed Repair Amount















Select
Select Select Select




Select

Select





0.0%

e.g. Day Care





























e.g. Resident Care






























Select

Select
Select








Select Select Select
Select








Appraisal Indicated Repair Amount















Select
Select Select Select




Select

Select





0.0%





















Period FY 1900 FY 1900 FY 1900 FY 1900

Enter Period Enter Period Enter Period
e.g. Food Services






























Select

Select
Select








Select Select Select
Select








Land Square Size (Sq.Ft.)

Appraisal












Select
Select Select Select




Select

Select





0.0%
























e.g. Activities






























Select

Select
Select








Select Select Select
Select








Building Size (Sq.Ft.)

Select Hypothetical Conditions: Other than assuming that the critical and non-critical repairs have been made, does the appraisal make other hypothetical assumptions?












Select
Select Select Select




Select

Select





0.0%

Other Revenue Achieved $0
$0
$0
$0
$0
$0
$0
$0
$0

Total Revenue from Financial Statement









e.g. Housekeeping & Laundry






























Select

Select
Select








Select Select Select
Select








Star Rating















Select
Select Select Select




Select

Select





0.0%

Effective Gross Income $0 0 $0 0 $0 0 $0 0 $0 0 $0 0 $0 0 $0 0 $0 0
Effective Gross Income Reported in Appraisal $0 $0 $0 $0

$0 $0 $0
e.g. Maintenance






























Select

Select
Select








Select Select Select
Select








Undepreciated Cost New

Select Extraordinary Assumptions: Does the appraisal make any extraordinary assumptions?












Select
Select Select Select




Select

Select





0.0%





















Difference $0 $0 $0 $0

$0 $0 $0
e.g. Utilities






























Select

Select
Select








Select Select Select
Select









Does the application propose reduced debt seasoning (less than 2 years) pursuant to Healthcare Mortgage Insurance Program Handbook (4232.1) Ch. 3.13D?

Select Jurisdictional Exceptions: Does the appraisal invoke any jurisdictional exceptions?












Select
Select Select Select




Select

Select





0.0%

Potential Days
0
0
0
0
0
0
0
0
0
Net Income from Financial Statement









e.g. Insurance (property & liability)






























Select

Select
Select








Select Select Select
Select











Select Functional Obsolescence: Does the appraisal identify any functional obsolescence?












Select
Select Select Select





































NOI Reported in Appraisal $0 $0 $0 $0

$0 $0 $0
e.g. Marketing and Promotion






























Select

Select
Select








Select Select Select
Select







6. Each input cell is named. When the cell is selected the name appears in the name box to the left of the formula bar (see Illustration below). Users are welcome to integrate this workbook's names into their worksheets but this workbook's assigned names must not change. To migrate the Sockets tab into another Excel workbook without losing the cell names, first open both this worksheet and the destination workbook, then right-click the "Sockets" tab, select “move or copy”, under “To Book” select the destination workbook (which you opened) from the list, then finish by clicking “OK”. Prior to submitting this document to ORCF make sure any external links are broken.


Select External Obsolescence: Does the appraisal identify any external obsolescence?












Select
Select Select Select





































Difference $0 $0 $0 $0

$0 $0 $0
e.g. Ground Rent






























Select

Select
Select








Select Select Select
Select

























Select
Select Select Select





































Reconcile Items









e.g. Bad Debt



























































Select















Select
Select Select Select





































e.g. Fundraising Income









Other [delineate]












































































Select
Select Select Select





































e.g. Fundraising Expense









Other [delineate]

























































































Select
Select Select Select





































e.g. Depreciation









Other [delineate]


























































































Select
Select Select Select





































e.g. Amortization









Other [delineate]

























































































Select
Select Select Select





































e.g. Unusual Administration









Sub-total
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0



























































Select
Select Select Select





































e.g. Unique Employees









Real Estate Taxes

























































































Select
Select Select Select





































e.g. Major single-item capital exp.









Management Fees (Actual)

























































































Select
Select Select Select





































e.g. Facility Lease









Replacement Reserves

























































































Select
Select Select Select
















































Total Expenses
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0




























































Select
Select Select Select
















































Net Operating Income
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0




























8. Do not delete or add rows as this will impact other tables that share the same row.






























Select
Select Select Select
















































Year of Expense Information
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12
e.g. Jul-12




























































Select
Select Select Select





































Balance $0 $0 $0 $0

$0 $0 $0
Net adjust. amount applied for date
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%




























9. The inputs typically call for data to be reported on a per resident day (PRD) basis. Please do not alter this formatting as it is the format HUD will use in data collecting.






























Select
Select Select Select











































































































































Select
Select Select Select












































































































































Select
Select Select Select





































e.g. General & Administrative









e.g. General & Administrative


























































10. The data fields are intended to stay static but if ORCF requires changes patch notes will be circulated for version control.






























Select
Select Select Select





































e.g. Payroll Taxes and Benefits









e.g. Payroll Taxes and Benefits


























































































Select
Select Select Select





































e.g. Resident Care









e.g. Resident Care


























































11. The navigation bar to the left provides quick links to the various worksheet sections.






























Select
Select Select Select





































e.g. Food Services









e.g. Food Services



































A bulk sale is the combined sale of more than one property.

































































































e.g. Activities









e.g. Activities


























































12. This spreadsheet requires the use of Excel 2010 or newer.






























Other Unit Description









































e.g. Housekeeping & Laundry









e.g. Housekeeping & Laundry



























































Select





























Unit Type Room Description








































e.g. Maintenance









e.g. Maintenance


























































13. Any items that need further clarification can be explained in the lenders note tab of this workbook. It is suggested that the explanation start with the reason for no





























a.








































e.g. Utilities









e.g. Utilities


























































for the explanation. i.e. PREVIOUS SALES - The property sold in May of 2017. It was a sale from father to daughter - related parties.






























b.








































e.g. Insurance (property & liability)









e.g. Insurance (property & liability)


























































































c.








































e.g. Marketing and Promotion









e.g. Marketing and Promotion


























































Abbreviations / Definitions:






























d.








































e.g. Ground Rent









e.g. Ground Rent


























































SNF - Skilled Nursing






























e.








































e.g. Bad Debt









e.g. Bad Debt


























































ALF - Assisted Living also includes Board and Care






























f.








































Other [delineate]









Other [delineate]


























































MC - Memory Care








































































Other [delineate]









Other [delineate]


























































IL - Independent Living









































































Other [delineate]









Other [delineate]


























































ORCF - Office of Residential Care Facilities









































































Other [delineate]









Other [delineate]


























































NOI - Net Operating Income









































































e.g. Fundraising Income









e.g. Jul-12


























































MIP - Mortgage Insurance Premium









































































e.g. Fundraising Expense





































































LIHTC - Low Income Housing Tax Credits









































































e.g. Depreciation





































































NC - New Construction









































































e.g. Amortization





































































SR - Substantial Rehabilitation









































































e.g. Unusual Administration





































































W/O - Without









































































e.g. Unique Employees





































































Refi - Refinance









































































e.g. Major single-item capital exp.





































































EGIM - Effective Gross Income Multiplier









































































e.g. Facility Lease





































































PMA - Prime Market Area
















































































































































Gross Adjustment: The absolute addition of the positive and negative adjustments applied to a property. If a property is adjusted upward 20% for certain features and downward 20% for other features the gross adjustment is 40%

































































































































































































































































































Property Investment Classes:
















































































































































Class A Property:
















































































































































A Class A property, also known as institutional grade property, is the market’s premier property. These are the properties most likely to be purchased by REITs and public companies. A Class A property is in a primary metropolitan area with improvements are less than 15 years old, are larger than 80 units and incorporate high-end construction and finishes, modern design, high-tech mechanical systems as well a variety of property amenities. The improvements are in excellent condition. A rated properties also demand the highest rent and have the high-quality census mix. These projects have the highest potential for increases in income. For example, Class A skilled nursing facilities include physical therapy rooms, therapy pools, medical facilities, advanced patient monitoring and formal dining and entertaining rooms. Class A assisted living will almost always offer near resort-like settings complete with open spaces with fountains, movie theatres, modern technology, and fitness centers. Class A properties are best-in-class assets that usually command the highest possible rents in their respective submarkets.







































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































Class B Property:
















































































































































Class B properties are typically over 15 years old improvement with quality, location, and amenities below the level of a Class A facility. To be considered the Class B the improvement’s condition must be good to very good and the property must have more than 80 units. Typically, the property is a primary or a secondary Metropolitan market which is experiencing modest growth in rents and average occupancy. A Class B project achieves above average rents, but rents and census mix quality are lower when compared to a Class A facility. Often very well maintained projects will be considered Class B as the technology, design, and mechanical systems available at the time of construction are not state of the art by today’s standards.




















































































































































































































































































































































































































































































































































































































































































































































Class C Property:
















































































































































Commercial properties that have a C rating are typically over 20 years old, have less than 80 units are in less affluent neighborhoods or nonmetropolitan areas when compared to A and B rated properties. Often these projects would require substantial renovation to be considered modern by today’s standards but are economically viable due to restrictions on the addition of competing for new projects. Typically, market conditions limit the ability to renovate the project to more modern standards and there is deferred maintenance. Consequently, Class C properties generate the lowest rents, have the lowest quality census mix and have the highest vacancy rates.
























































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































Previous versions obsolete form HUD-92000-ORCF (06/2019)

































































































































































































































































































Sheet 2: Lender Notes

Lender Notes:
File Typeapplication/vnd.openxmlformats-officedocument.spreadsheetml.sheet
File Modified0000-00-00
File Created0000-00-00

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