Tag: 203A
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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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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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To do an IR, or not to do an IR, that is the question!
HOTMA changes to when an IR can be performed and when it cannot have radically changed! Let EPS and our TRACS Services help you through this process! We have created a PowerPoint, xxxxlinkherexxxx, to assist you in figuring out if an IR is required, an “Other” cert or OC, as it is being referred to,…
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Elderly Family Deduction going up?
We know that the Elderly Family Deduction is going up to $525 with 203A and HOTMA, but why are we seeing errors now on 202D certs? The last version of the MAT Guide called for HOTMA edits to require a 2.0.3.A TRACS version, but this was returned on a 202D cert, and created cascading errors.…
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Passbook Rates Changing now or with 203A + HOTMA?
Yes, No, Maybe every other Sunday? HUD released a new HUD Passbook rate of 0.40%, which was included in the HOTMA implementation notice, effective for 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…