This three-hour webinar will simplify the process of calculating income and assets for Rural Development Multifamily Housing programs. Designed for site managers and compliance professionals, this session provides essential guidance for accurate household eligibility and compliance. We will cover the Housing Opportunity Through Modernization Act (HOTMA) revisions, including their impact on net family assets, annual income, and adjusted income deductions. Gain the knowledge to confidently navigate these regulations and maintain compliance.

Class Agenda:

Foundations and Net Family Assets

• Introduction to Rural Development & HOTMA: Overview of Rural Development Multifamily Housing and how HOTMA's income and asset specifications are adopted.
• Net Family Assets: Applying the HOTMA definition, understanding market/cash value, and considering real property/disposed assets.

Deep Dive into Annual Income

• Annual Income Definition & Calculation: Consistent with Section 8 requirements, identifying whose income to count, and specific income exclusions.
• Income Types & Reexaminations: Methods for calculating various income types and requirements for interim reexaminations due to income changes.

Adjusted Income, Asset Restrictions, and Compliance

• Adjusted Income Deductions: Application and calculation of mandatory and additional deductions. Note that Financial Hardship Exemptions and Asset Restrictions on Eligibility do not apply to Rural Development.
• Common Compliance Mistakes & Best Practices: Review frequent errors, emphasizing documentation and ongoing compliance.

Purchase access for multiple people using our "For Someone Else" feature at checkout. Groups of 10 or more will receive 20% off their total purchase.