HOTMA

On January 31, 2023, HUD released HUD Final Rule Housing Opportunity Through Modernization Act of 2016: Implementation of Sections 102, 103, and 104. 

This Final Rule implements the Housing Opportunities Through Modernization Act (HOTMA) which was signed into law in July 2016. Additional provisions are included as well. We expect HUD to issue additional guidance providing clarification for owner/agents. 

Keep in mind that HUD will be working with software vendors and other industry stakeholders to define changes to site software requirements which will need to be programmed and tested before owner/agents can fully implement HOTMA. 

Owner/agents are encouraged to review this Final Rule in its entirety since the changes provided affect:

  • Eligibility
  • Interim Recertification
  • Use of EIV
  • Income Inclusions and Exclusions
  • Deduction used to reduce Annual Income
  • Management & Occupancy Review errors/findings

 Such changes require edits to key property documents including, but not limited to:

  • The Tenant Selection Plan
  • The EIV Use Policy
  • Interim Recertification Notices
  • New Hardship Exemption Policy Related to Deductions

 We will review those changes and edit as appropriate and then make updated and new products available to you, our customers.  

We will be sending out more information soon!!