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This Handbook establishes uniform national standards for applying, underwriting, submitting for approval, closing, managing and servicing mortgages insured Section 232 Handbook, Section I, Handbook Introduction, Table of Contents Section 232/241(a) Supplemental Loan for an Existing FHA-. Insured Project… In order to participate in the Section 232 Program, Lenders are required to have staff skilled in underwriting, closing and servicing residential healthcare The U.S. Department of Housing and Urban Development's Office of Residential Care Facilities has published its new handbook for the Section 232 Healthcare HUD's Healthcare Mortgage Insurance Program, Section 232 of the National Housing Act, effective September 2014. The HUD Section 232 Handbook outlines risk management requirements for loan recipients. Here are some excerpts: Operators must implement and maintain a riskIn general, section 232 covers: Under the FHA 232 program, properties must fall into the category of skilled nursing care facilities. 4232.1 REV-1 HEALTHCARE MORTGAGE INSURANCE PROGRAM SECTION 232 OF THE NATIONAL HOUSING ACT A HUD HANDBOOK For Program Participants and HUD Staff Issued