HUD/FHA provides mortgage insurance on loans that cover housing for the frail elderly. Known as a Section 232 loan, these loans help finance nursing homes and assisted living facilities. HUD loan guidelines cover multiple operational and financial areas, including insurance and risk management. More and more HUD is requiring lenders to follow specific risk management guidelines that QA Reader is designed to meet.
HUD often requires lenders to subscribe to an incident management system with third-party risk management review of potentially serious events. We've seen this requirement more and more lately. We located a recent presentation from HUD from their 2013 Eastern Lenders Conference. We removed a few extraneous slides and posted it below. As we find more information related to HUD and risk management, we'll post it.