Political Wrinkles  

Go Back   Political Wrinkles > General Forum > News & Current Events
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

News & Current Events Discuss HUD backing mortgages, loans for lowest-rated nursing homes despite warnings at the General Forum; HUD backing mortgages, loans for lowest-rated nursing homes despite warnings By Mark Tapscott | November 13, 2014 | 12:57 pm ...

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 11-14-2014, 01:22 AM
Jackass master's Avatar
Tired old ass
 
Join Date: Nov 2012
Location: on top of the mountain
Gender: Male
Posts: 5,437
Thanks: 2,946
Thanked 4,198 Times in 2,459 Posts
Default HUD backing mortgages, loans for lowest-rated nursing homes despite warnings

HUD backing mortgages, loans for lowest-rated nursing homes despite warnings
By Mark Tapscott | November 13, 2014 | 12:57 pm
Topics: Watchdog Health Care Accountability HHS HUD
Photo - Hundreds of nursing homes have received nearly $2.5 billion in mortgages and loans guaranteed by the Department of Housing and Urban Development since 2009 despite getting the lowest possible rating from federal health officials. (iStock Photo) Hundreds of nursing homes have received nearly $2.5 billion in mortgages and loans guaranteed by...

Hundreds of nursing homes have received nearly $2.5 billion in mortgages and loans guaranteed by the Department of Housing and Urban Development since 2009 despite getting the lowest possible rating from federal health officials.

"Nursing homes providing poor care routinely have received HUD-insured acquisition, construction, refinancing and improvement loans all over the country," according to the Center for Public Integrity.

"In fact, since 2001 hundreds of the nation's worst-ranked nursing homes have received one, and in many cases two, low-cost, HUD-backed mortgages worth close to $2.5 billion," the center said in a report published Thursday.

The center is a nonprofit foundation started in 1989 and devoted to investigative journalism "revealing abuses of power, corruption and betrayal of public trust by powerful public and private institutions," according to its web site.


Nursing homes are rated annually by the Department of Health and Human Services using a rating system in which the best get five stars and the worst one star.

The mortgage and loan guarantees have been awarded for years despite repeated warnings by the Government Accountability Office and the HUD inspector general.

"Even though HUD restructured the office that runs the program in 2008 to streamline the mortgage application process and requires submission of the latest quality reports in evaluating potential construction and rehabilitation loans, the number and volume of one-star facilities that got HUD insurance rose each year from 2009 to 2012," the center said.

Ohio had the largest number of such homes with 30, while Illinois was second with 20 and California was third.

The center also said it found that "more than 80 percent of nursing homes are reporting higher levels of registered nurse care to a government-run website for consumers than are reflected in their reports to Medicare."

Go here for the complete report and previous reporting on related issues by the center.
ww.washingtonexaminer.com/hud-backing-mortgages-loans-for-lowest-rated-nursing-homes-despite-warnings/article/2556137
.
This is a good example of big government running wild.
__________________
I don't have much ammo, but will gladly waste some on you!
Reply With Quote
Reply

Tags
backing, despite, for, homes, hud, loans, lowestrated, mortgages, nursing, warnings

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 12:04 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2020, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0