Income Calculations
March 30, 2020
Recently, the Federal Reserve Bank cut its benchmark federal funds rate by 1 percent in an effort to stimulate the economy as it takes a major hit from the coronavirus pandemic. The decrease was the central bank’s second emergency rate cut in a month.
When the Fed cuts interest rates,...
Feature
February 28, 2020
Tenant fraud occurs when an applicant or household member deliberately provides false or misleading information or omits key facts to obtain or increase the amount of assistance provided, and then signs or declares that the lies or omissions are true.
Compliance
February 28, 2020
In line with its ongoing process of increasing quality control procedures on REAC inspections, HUD recently implemented a new Quality Assurance Inspection (QAI) process, which may be done within five days of the REAC inspection. Generally, within two business days of the contract inspection, a...
Compliance
February 28, 2020
HUD recently issued new guidelines relating to assistance animals under the Fair Housing Act (FHA). Notice FHEO-2020-01, referred to as the “Assistance Animals Notice,” replaces prior HUD guidelines from 2013 and can be found at www.hud.gov/sites/dfiles/PA/documents/HUDAsstAnimalNC1-28-...
Feature
January 29, 2020
Leases that don't have the required attachments will raise red flags for auditors.
Dos & Don'ts
January 29, 2020
In this month’s feature, The Risk of the Incomplete Lease, we told you what documents HUD requires you to attach to your leases. But can you make other modifications to a HUD model lease?
Compliance
January 29, 2020
A few months ago, HUD and its Office of Inspector General (OIG) issued a report identifying the top management challenges facing the Department in 2020 and beyond. One of the broad categories identified was ensuring the availability of affordable housing that’s decent, safe, sanitary, and in...
Income Calculations
January 29, 2020
Some of your households may have unreimbursed medical expenses that include travel expenses to and from treatment. And if any of these households are classified as elderly or disabled, HUD permits a medical expense deduction to be used to calculate their adjusted annual income. So be sure these...
Compliance
January 29, 2020
HUD is in the process of overhauling its Real Estate Assessment Center (REAC) physical inspection protocol. Last year, HUD drastically reduced the notice it would give managers of public and subsidized rental housing before REAC inspections to 14 calendar days. And HUD will eventually replace REAC...
HUD Audits
January 29, 2020
Catalyst: An anonymous caller contacted HUD’s Office of Inspector General (OIG) complaint hotline claiming that the Charlottesville Redevelopment and Housing Authority improperly awarded an Internet services contract for more than $200,000 without receiving competitive bids.
Findings:...
