New line aims to facilitate loans to finance nursing homes, assisted living facilities, and multifamily housing
Forbright Bank has announced its intent to launch a new business line aimed at facilitating federally insured loans to finance nursing homes, assisted living facilities, and multifamily housing.
In a statement, the Maryland-based lender, recently rebranded from Congressional Bank, said that the new product offering will sit within its healthcare lending division and will offer direct to US Department of Housing and Urban Development (HUD) loans, as well as structure bridge transactions designed to exit via HUD, following final HUD approval.
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Overseeing the new initiative is Jon Camps, appointed as managing director of HUD lending Forbright Bank. An industry veteran, Camps has spent the majority of his 25-year career in real estate finance focused on HUD lending, including underwriting, originations, closing, and asset management. He most recently served as co-chief operating officer and chief compliance officer at Dwight Capital, an HUD lender that acquired the assets of Love Funding in 2020.
“I’ve known Jon for more than 15 years, and I’m thrilled that he has joined Forbright to lead this effort,” said Amy Heller, president of the healthcare lending division at Forbright. “His quarter century of experience leading all facets of the HUD business makes him uniquely qualified to head this important endeavor for Forbright. Our clients should expect the same bespoke, reliable, and customer-focused experience working with our HUD group that they have come to appreciate from the rest of our lending programs.”
