A significant portion of Krooth & Altman’s practice represents lenders in the development, financing, servicing and asset management of projects insured under the National Housing Act, including Sections 221(d)(4), 223(a)(7), 223(f), 232, 236, 241, and 242.  We are seasoned lender's counsel known to HUD as experts in the field and trusted advisers to many of the top FHA lenders in the industry in its 75-year history.

The health care transactions include financings for hospitals, intermediate and skilled-care nursing homes, assisted living facilities and board and care residences, while the housing transactions include market-rate and affordable multifamily rental projects, condominiums, cooperatives and single-family developments. The firm’s practice also includes representing its clients in the transfers of physical assets (sales)/change in ownership of Federal Housing Administration (FHA) projects, change of operators, accounts receivable financing, foreclosures, defaults, workouts, processing of FHA insurance claims, and prepayment of FHA insured mortgage loans.  We also have expertise in transactions involving Low Income Housing Tax Credits and historic tax credits, including approval of borrower entity and the structuring of the financing, including permanent, construction and mezzanine loans, as well as transactions using tax exempt or taxable bonds.

Additionally, K&A has represented both mortgage lenders and developers utilizing FHA’s Section 8 rental assistance program, including initial application, renewal, termination and modification of Section 8 HAP Contracts, and assisted in the development and implementation of FHA’s “mark-to-market” program that reduces above mark Section 8 rents on FHA-insured mortgage loans to comparable market rent levels.

As a result of its reputation with respect to HUD and its programs, K&A frequently serves as special counsel for FHA matters in business transactions, FHA and GNMA licensure applications, implementation of procedures and policies related to FHA in the normal course of business, as well as for “troubled” projects. We also continue to work closely with HUD and industry leaders in the implementation of policy, drafting of handbooks, comments on proposed rules and loan documents, and legislative and policy changes related to FHA programs.



Fannie Mae & Freddie Mac

Bridge Lending

Community Involvement & Pro Bono

Conventional Lending