Yes, No, Maybe every other Sunday? In 2024, HUD released a new HUD Passbook rate of 0.40%, which was included in the HOTMA implementation notice, effective from 1/1/2024. However, we still do not have final specs for 203A and HOTMA, so the software may not be ready to change the passbook rates for both properties and the PBCA’s. We know once your software can do this function, you will either get an update for TRACS version 202D, or it will be available once 203A has been released. Currently, HUD has indicated that either .06% or .40% are acceptable rates, and TRACS is no longer generating an Action 1 CE270 error. EPS, Inc., will accept either.
Update: HUD released the 2025 Inflationary Adjustments are out! The HUD Passbook Savings Rate will adjust from 0.40% to 0.45% as of January 1, 2025. Passbook savings rate for Section 8 PBRA, 202/8, 202/811 PRAC, 236 IRP, 811 PRA, SPRAC, HCV, Public Housing, Section 8 Mod Rehab, Section 8 Mod Rehab SRO, HOPWA, HOME, HTF
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