Are You Ready for HOTMA? (2 Days Workshop - 8 Hours of Training)

Duration: 480 minutes

Speaker: Gwen Volk

Available On-Demand

PURCHASE OPTIONS

Individual Purchase Options
On-Demand Available On-Demand. Watch the webinar recording multiple times for 30 days.	$699

ABOUT THE EVENT

This Class is Not Applicable to the Public Housing and Housing Choice Voucher program.

On September 29, HUD issued the long-awaited Supplementary Guidance on the Housing Opportunities Through Modernization Act (HOTMA). By March 31, 2024 Owners must revise their Tenant Selection Plans and EIV Policies and Procedures to comply with HOTMA and make them publicly available. Implementation of the new rules will be required thereafter once the Owner’s software is HOTMA compliant, which is expected to happen sometime the second quarter of 2024. Owners must be fully in compliance by January 1, 2025.

HOTMA includes the most comprehensive changes to the way HUD properties determine eligibility and calculate income and rent since 1981 when Congress raised the rent cap from 25% to 30% of Adjusted Income. The changes will have a ripple effect on other affordable housing programs including Rural Development and the Low Income Housing Tax Credit and HOME programs. Some state agencies have already issued new HOTMA compliant forms and requirements. Find out the most significant changes, how the recent guidance significantly changed and clarified some of HUD’s earlier guidance, and when you will need to start following the new rules.

Areas Covered:

Asset limitations, verification and imputing income
Income and Asset Inclusions/Exclusions
Medical Expense/Allowance
Dependent Allowance
Elderly/Disabled Family Deduction
Interim Recertification triggers
Hardship Exemptions and Phase-ins
Form changes
Use of EIV
Students will identify which rules apply to which programs
Students will learn how how to handle 1^st quarter annuals and move-ins
Students will learn the steps to take now to be ready for HOTMA.

Who Should Attend:

Owners
Agents
Managers
Compliance Specialists for HUD Multifamily Projects

What Programs Are Affected:

Section 8 Project-Based Rental Assistance (PBRA),
Section 202/8
Section 202/811 Project Rental Assistance Contract (PRAC)
Section 202/162 Project Assistance Contract (PAC)
Section 811 Project Rental Assistance (PRA)
Senior Preservation Rental Assistance Contract (SPRAC)

Testimonials:

I liked that it was up to date and gave good examples to clarify some of the new rules that will be implemented.
Gwen has a great way of conveying the information in a clear and realistic way :)
Gwen Volk is an excellent presenter! The overview was informative for the information that is available at this time.
The trainer is always very clear and informative when going over certain criteria. I appreciate her expertise advise.
Gwen was very informative on what she knew

Speaker(s)

Gwen Volk

Gwen Volk has worked in the affordable housing industry since 1983. She has been president and CEO of a Midwest property management company and chief compliance officer over a Dallas firm’s national portfolio. She has a Master’s degree in Business and is a Certified Property Manager through the Institute of Real Estate Management. Gwen holds certifications as a National Affordable Housing Professional – Executive Level, Specialist in Housing Credit Management, Housing Credit Certified Professional, Certified Professional of Occupancy, and in Fair Housing Compliance and has been a servant leader in the AHMAs, NAHMA and IREM throughout her career. Gwen is a nationally recognized expert in the tax credit, bond, HOME, and Section 8 programs and enjoys helping agents, owners, and managers make sense of it all.

Unlimited Webinars

Access Unlimited Webinars

SUBSCRIBE NOW

Why You Should Subscribe?

Unlimited Live and On-Demand Courses

Watch all live or recorded webinars (up to 120 minutes long). Get instant access to a library of more than 500 high quality courses presented by best-in-class presenters.