Effective July 1, FHA will be adopting the “Lean” management process, developed by Toyota, to simplify the application process and to further streamline the review time beyond the scope of the successful Multifamily Accelerated Processing (MAP) program. Under Lean processing, applications will be filed electronically, feature fewer exhibits and require “conventional”, market-based appraisals. The goal of Lean processing is to review an application, issue a commitment and get to closing within 40 days. FHA developed the Lean program in their Seattle Office, and the results were reportedly spectacular – it took a test case roughly three weeks to go from application submission to loan closing!

PHI’s history dates back to 1927, when it began serving seniors as the Presbyterian Homes of Central Pennsylvania. Today, PHI’s affiliated corporations serve over 4,000 senior adults annually throughout Pennsylvania and in Maryland, Ohio and Delaware. As a whole, PHI presently owns and operates ten continuing care retirement communities (“CCRCs”) in Pennsylvania, one CCRC in Delaware, one CCRC in Maryland, one free-standing nursing home, four independent living facilities, two assisted living facilities, and an adult day care center.

Jeff Davis, PHI’s Chief Financial Officer commented, “This was our first bond transaction with Herbert J. Sims, and we could not be more pleased with the results. The integrity and support of the Sims staff from the beginning of the transaction through closing was excellent.”