Property Compliance Briefs

Thursday, May 4, 2017

New Hampshire Housing (NHH) issued a memo March 24 to owners and management agents with Section 8, Section 202 or Section 811 properties to obtain a Dun and Bradstreet Numbering System (DUNS) number and to register with, as well as to renew the registration annually. NHH stated that having an active DUNS number and being currently registered is critical for Section 8 contracts to be paid housing assistance payments (HAP) and for the U.S. Department of Housing and Urban Development’s (HUD’s) Fort Worth Accounting Office to renew expiring contracts. NHH  addressed on March 20 the transmission of confidential information and management review response documentation. NHH stated that owners and management agents have a moral and legal obligation to protect this information. As a reminder, NHH asked for cooperation with its information security program to ensure that the personally identifiable information of residents is not inadvertently disclosed to the wrong parties. This includes personal home address, Social Security number and medical information, among other items.


The Oregon Housing and Community Services (OHCS) released an updated self-certification of household annual income form in early April. The form allows for the individual(s) named on Page 1 to be eligible under the provisions of Section 42 of the Internal Revenue Code (IRC), as amended and all of the regulatory agreements as applicable to live in an income/rent-restricted apartment in the property. 


The Pennsylvania Housing Finance Agency (PHFA) released an updated agency fee schedule March 13 for 2017 and 2018. The fees outlined in the schedule are applicable to all applicants seeking PHFA resources and should be included in the development budget of the application. Additionally, fees may apply to existing developments per occurrence in their regulatory and/or compliance period. Interest rates and annual expenses are determined during underwriting based on market conditions and all fees are nonrefundable, nontransferable and due as designated in this schedule.

Journal Category: