Walker & Dunlop Arranges $151 Million in Healthcare Financing Through HUD’s LEAN Express Lane
Walker & Dunlop, Inc., a leading commercial real estate finance company, has announced that it arranged $151 million in financing across nine healthcare property transactions nationwide over the past 12 months through the U.S. Department of Housing and Urban Development’s (HUD) LEAN Express Lane program. The transactions demonstrate how HUD’s expedited review process can help eligible healthcare property owners secure financing more quickly through Federal Housing Administration (FHA) Section 232/223(f) refinancing.
Launched in 2025, the LEAN Express Lane was designed to accelerate financing for qualifying healthcare facilities that meet specific risk, leverage and underwriting requirements. The program supports eligible skilled nursing facilities, assisted living communities, memory care properties and other residential care facilities seeking refinancing under HUD’s existing healthcare financing framework.
Walker & Dunlop’s completed transactions highlight the potential benefits of the streamlined process, which prioritizes qualifying applications and helps reduce delays associated with traditional HUD review procedures.
HUD’s LEAN Express Lane Accelerates Healthcare Financing
HUD introduced the LEAN Express Lane to improve the efficiency of financing for lower-risk, lower-leverage healthcare properties. Under the traditional review process, applications could face extended waiting periods, with processing timelines reaching as long as 150 days before certain review stages were completed.
The new program allows eligible applications to bypass HUD’s traditional application queue, helping borrowers move through the financing process more efficiently. According to the program’s stated objectives, the expedited process is designed to reduce the time required to receive a HUD Firm Commitment by more than 90% and shorten the overall timeline from application submission through closing by more than 50% compared with the traditional review process.
These improvements can be important for healthcare property owners seeking to refinance existing debt, manage financing costs and plan future investments in their facilities.
However, access to the expedited process depends on meeting HUD’s eligibility requirements. Applications must satisfy specific underwriting standards and be sufficiently prepared for immediate review when submitted.
Walker & Dunlop Completes Nine Healthcare Transactions
Walker & Dunlop’s FHA Finance team led the execution of the nine transactions, arranging a combined $151 million in financing across healthcare properties nationwide.
The team included Kevin Giusti, Richie Davis, Daniel Barone, Daniel Adams and Parker Kent. Working with healthcare property owners and operators, the professionals evaluated potential transactions against HUD’s program requirements, structured applications and coordinated the financing process through Firm Commitment and closing.
The firm’s fastest transaction under the LEAN Express Lane closed just 60 days after submission, illustrating the potential for faster execution when applications are appropriately structured and meet the program’s requirements.
The team’s work includes identifying suitable refinancing opportunities, reviewing property and financial information, preparing documentation and coordinating with HUD throughout the approval process.
Early assessment is particularly important because the program is intended for applications that are ready for immediate underwriting. Identifying potential eligibility issues and addressing documentation requirements before submission can help borrowers take advantage of the accelerated review process.
Experience and Preparation Support Faster Execution
Richie Davis, senior director of FHA Finance at Walker & Dunlop, said the LEAN Express Lane can significantly change financing timelines for borrowers whose transactions qualify for the program.
“The LEAN Express Lane fundamentally changes the timeline for borrowers that fit the program, but speed still depends on knowing how to position a transaction before it reaches HUD,” Davis said.
He explained that the team’s experience with HUD’s Section 232 program helps it identify transactions suited to the expedited process and manage applications efficiently from submission through closing.
Completing $151 million across nine transactions over the past year demonstrates the firm’s ability to apply the new process to multiple healthcare financing assignments.
For property owners and operators, working with an experienced FHA lender can help clarify eligibility requirements, organize application materials and establish a financing strategy aligned with HUD’s underwriting framework.
Although the Express Lane is designed to reduce processing delays, the outcome and timeline of each transaction remain dependent on its individual circumstances, documentation and compliance with applicable requirements.
Existing Underwriting Standards Remain in Place
The LEAN Express Lane streamlines the review process without eliminating HUD’s established underwriting standards. Applications must meet defined criteria relating to leverage, debt-service coverage, operating history, quality of care and other measures used to evaluate the eligibility and financial stability of healthcare properties.
These requirements help HUD assess whether a facility and its proposed financing meet the program’s risk parameters.
Borrowers must also ensure that applications are complete and ready for immediate underwriting at submission. This makes early screening, financial analysis and document preparation essential components of a successful financing strategy.
The program is particularly relevant to eligible operators of skilled nursing, assisted living, memory care and other residential care facilities that are considering refinancing existing mortgages.
By prioritizing qualifying transactions, HUD aims to improve processing efficiency while maintaining the standards associated with its FHA-backed healthcare financing programs.
Walker & Dunlop has also highlighted its successful execution through the program in a case study featuring Liberty Shores, providing an example of how the expedited process can be applied to an eligible healthcare property transaction.
Walker & Dunlop Strengthens Its FHA Financing Platform
Walker & Dunlop continues to maintain a significant presence in the HUD healthcare and multifamily financing markets. The company ranked No. 5 based on combined Multifamily Accelerated Processing (MAP) and LEAN lending volume in 2025.
Since its inception, the firm’s FHA/HUD platform has closed approximately $45 billion across more than 2,000 transactions. The platform has also maintained a 99% approval rate since 2021, according to the company.
These figures reflect the firm’s established participation in government-backed real estate financing and its experience supporting borrowers through HUD’s application and approval processes.
The $151 million arranged through the LEAN Express Lane further demonstrates Walker & Dunlop’s involvement in financing healthcare properties and helping eligible borrowers navigate changes in HUD’s review procedures.
Supporting Healthcare Property Investment
As healthcare operators manage financing requirements and ongoing facility needs, efficient access to refinancing can play an important role in long-term property planning. Programs such as HUD’s LEAN Express Lane provide an alternative review pathway for eligible borrowers seeking to reduce delays while retaining the protections of established underwriting standards.
Walker & Dunlop’s nine completed transactions illustrate how preparation, eligibility assessment and experience with HUD financing programs can contribute to faster execution.
With its established FHA/HUD lending platform and nationwide healthcare financing activity, the company continues to support owners and operators seeking financing solutions for residential care facilities across the United States.
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