Tag: HOTMA
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*2026 – HOTMA Compliance Deadline has been extended!
HUD just released Notice H 2025–07 – https://www.hud.gov/sites/dfiles/hudclips/documents/HSGN-07.pdf – 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 1, 2027, which will give Owners…
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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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Elderly Family Deduction going up?
We know that the Elderly Family Deduction is going up to $550 in 2026 for those that implement HOTMA early, as the forms and MAT guide for 203A has not been published yet. However, why are we seeing errors on 202D certs? If you implement early using 202D cert with the HOTMA values, it will…
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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…