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COLA – more than a soda! 2026 RATES HAVE INCREASED!
EPS, Inc., is here to help! The Cost-of-Living Adjustments (COLA) are effective 1/1/26 for SS and 12/31/25 for SSI. This year it is a 2.8% increase. If your property participates in Streamlined Verification (Streamlined Income Determinations – EPS, Inc.), you can use the COLA factsheet (2026 Cost-of-Living Adjustment (COLA) Fact Sheet | News | SSA)…
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2026 HUD Inflation-Adjusted Values & Passbook Rate
These keep changing every year now with different values fluctuating. If you need some help navigating these ups and downs, contact EPS, INC., as we would love to assist you with your 50059 reporting to either a PBCA or directly to HUD! *NEW HUD released the 2026 Inflationary Adjustments - Annual Inflationary Adjustments and Passbook Rate | HUD…
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What do I need to do with the HUD 2025 release of new income limits?
The FY 2024 Income limits have been posted and are effective from 4/1/24. Update your software with the new Multifamily income limits to comply. Any incorrect income limit will generate an Action 1 TRACS error for certifications with an effective date of 4/1/24 or later. Contact your software vendor for assistance in the process. EPS,…
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*2025 – HOTMA Compliance Deadline has been extended!
HUD just released Notice H 2025–03 – Assistant Secretary for Housing-Federal Housing Commisioners (hud.gov) – which is extending the deadline for compliance with Section 102 and 104 of the Housing Opportunity Through Modernization Act of 2016 that was initially supposed to be implemented on July 1, 2025, (Notice H 2024-9). The new date is now January…
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2025 – Passbook Rates Changing now or with 203A + HOTMA?
HUD has announced a new Passbook rate of 0.45% for 2025, while TRACS still accepts older rates. Errors related to these rates may occur; resubmitting to TRACS can resolve them. Cascading errors linked to imputed assets do not require correction. Assistance is available from the TRACS Service Bureau for submitting files.
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COLA – more than a soda! 2025 RATES HAVE INCREASED!
EPS, Inc. announces a 2.5% Cost-of-Living Adjustment (COLA) effective 1/1/25 for Social Security (SS) and 12/31/24 for Supplemental Security Income (SSI). Properties in Streamlined Verification can use the COLA factsheet for verification without additional documents if third-party verification is obtained within three years. Helpful resources include the SSA website.
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*2024 – HOTMA Compliance Deadline has been extended!
HUD just released Notice H 2024–09 – Hsgn 24-09 (hud.gov) – which is extending the deadline for compliance with Section 102 and 104 of the Housing Opportunity Through Modernization Act of 2016 that was initially supposed to be implemented on January 1, 2025. The new date is now July 1, 2025, which will give Owners and…
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ASSET LIMITATIONS (ENFORCEMENT IS DISCRETIONARY)
EPS, INC., would love to tell you a little bit more about the new policy concerning Asset Limitations, and what you can do at your property, as well as assisting you with your 50059 reporting to either a PBCA or directly to HUD! Notice H 2023-10 – 2023-10hsgn (hud.gov) Annual Inflationary Adjustments and Passbook Rate…
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Passbook Rates Changing now or with 203A + HOTMA?
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…
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HOT MESS OR HOTMA’TUNITY?
EPS, INC. understands the challenges you face and is embracing the HOTMA changes to alleviate your workload. They can assist with policies on Asset and Real Property Restrictions, Streamlining Verification of Assets, and IR timing. EPS also offers support for 50059s and HAP Voucher submissions. Stay informed about Notice H 2023-10 (2/2/24)- 2023-10hsgn.
