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Are You Ready for HOTMA – Virtual Training
August 7 @ 1:00 pm - August 9 @ 4:00 pm
Training Dates & Times: ALL Times Eastern
August 7 – 9:00 AM – 12:00 PM
August 8 – 1:00 PM – 4:00 PM
August 9 – 1:00 PM – 4:00 PM
On 2/2/24, HUD updated its policy guidance on implementing HOTMA and has promised to issue additional guidance and FAQs. This course will include everything that is known about what, how and when to implement the numerous HOTMA changes, helpful resources and tools, so that regardless of what HUD does or does not do, after completing the course, you will be ready for HOTMA!
Topic 1: Income and Income from Assets – including fosters not counted in the income limit, new income exclusions, methods of calculation – means tested, streamlined, traditional, student financial aid – new definitions, changes to Section 8 exceptions, how to calculate for both Section 8 and other HUD program).
Topic 2: Assets and Income from Assets – including new asset exceptions, asset threshold, non-necessary personal property, and method to calculate income from assets.
Topic 3: The Section 8 Asset cap – Including two types, when and how to apply to residents and new applicants, exceptions, owner hardship policies.
Topic 4: Deductions and Allowances – including CPI adjustment, 10% medical and disability “deductible” – new tenants and existing tenant phase-in, owner hardship policies.
Topic 5: Annual Recertification – including new methods to do annuals, owner option for retroactive rent decreases, other issues regarding when rent and HAP increase and decrease.
Topic 6: Interim Recertification – including lease requirements, increases based on 10% change in adjusted income, how to determine, owner option on % change for decreased income, owner option on using EIV, changes and owner options regarding increasing rent when earned income increases.
Topic 7: Miscellaneous – New forms – leases, 50059, 9887, 9887A, how and when to implement, De minimum errors – impact on owner, impact on tenants, suspension of EIV Income Discrepancy reports, new ways to verify SSN’s.
MAHMA Cancellation Policy: All cancellations must be received in writing five business days in advance. No shows will be billed. Substitutes Accepted.
Non-Members MUST pre-pay