Calculating a family’s rent can be tricky when a family receives cash contributions and other gifts from or when they receive income sporadically or from different sources. For the Multifamily program, the HUD Handbook 4350.3 (REV-1) provides some guidance which NMA trainer and consultant Reneé McTyeire discusses here. (Note, this guidance does not apply to programs under HUD’s Office of Public and Indian Housing (PIH) programs).

Join us on January 13, 2020 for a webinar in Multifamily EIV.

A "back to basics" course on HUD's Enterprise Income Verification System for multifamily users. The use of EIV has been mandatory in multifamily properties since January 2010. Remember there is a financial penalty for not using EIV "in its entirety".

In this course, NMA will cover each of the EIV Income and Verification Reports. We will cover the use of each report, required timeframes, how to resolve discrepancies and record retention requirements. NMA will also cover the two required master binders, their set up and maintenance and provide templates for both. This webinar will not cover PIH EIV requirements, only multifamily EIV is covered in this webinar.

We know time is valuable, and we will save you tons! NMA’s PIH Alert, one of our most helpful services for the affordable housing industry, allows public housing agencies (PHAs) and housing professionals to stay current with HUD’s new regulations, notices, and guidance—without having to worry about finding it yourself.

Community development and housing news for April 18, 2019

Breaking news

HUD announces disaster aid for storm victims in Nebraska and Iowa

Late Friday HUD posted two press releases announcing that it will speed federal disaster assistance to the states of Iowa and Nebraska and provide support to homeowners and low-income renters forced from their homes due to severe winter storms and flooding. Presidential disaster declarations allow HUD to offer foreclosure relief and other assistance to certain families living in impacted counties.

According to the press release, the disaster assistance will:

• Grant a 90-day moratorium on foreclosures of FHA-insured homes
• Make mortgage insurance available under HUD’s Section 203(h) program
• Make insurance available for both mortgages and home rehabilitation under HUD’s Section 203(k) program

Click here for more information about disaster resources.