GOOD TO KNOW: QUESTIONS FROM THE FIELD

A feature of the TDA blog where we address topics and questions we’re hearing in the field… The 2013 HOME Rule revised the requirements in §92.303 to require that HOME income determinations be based on “at least two months of source documents… (e.g. wage statement, interest statement, unemployment compensation statement).” {Emphasis added to show inserted regulatory language.} In the field, most PJs have traditionally relied on third-party verifications when conducting income verifications. In part this is because other federal programs (including Low Income Housing Tax Credits and most of HUD’s multifamily programs) prioritize third-party verifications. Additionally, most practitioners fi

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