Tag: HOTMA
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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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*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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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.
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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…