December 20, 2023

New HOTMA and NSPIRE Resources Are Available on OHFA’s Website

Be sure to check out new resources to help guide you through HOTMA and NSPIRE regulatory changes. The Ohio Housing Finance Agency (OHFA) will continue adding to these resources as new trainings and HUD notices are issued.

OHFA HOTMA Guidance

• All move-in certifications and recertifications effective prior to January 1, 2025, should be conducted using pre-HOTMA rules for OHFA-funded projects or until the owner’s software is HOTMA compliant.

• Full compliance with the HOTMA final rule is mandatory effective January 1, 2025, for all OHFA-funded projects.

• OHFA will not enforce (i.e., 8823) HOTMA file errors discovered prior to January 1, 2025. For HUD-funded projects, Multifamily Housing (MFH) owners will not be penalized for HOTMA-related tenant file errors during Management and Occupancy Reviews (MORs). Instead, the contract administrator will issue observations with corrective actions.

• Owners must create internal procedures, forms, policies, and train staff. 

• A new HUD passbook rate is effective January 1, 2024. The new rate is 0.4%. OHFA’s Tenant Income Certifcation (TIC) will be updated to reflect this new rate.

HOTMA was passed into law in 2016?

The HUD HOTMA regulations can be found at 24 CFR?

Under the HOTMA Rule, all income received by foster children and adults is excluded from income?

Under HOTMA only the current checking account balance is required?



Under HOTMA, owners are required to obtain a minimum of two current and consecutive pay stubs, rather than four to six, when determining income?

OHFA NSPIRE Guidance

Prepare for NSPIRE to be implemented for all LIHTC, HOME, NHTF, and 811 PRA projects by October 1, 2024.

• Update company internal manuals/policies and train staff.

• OHFA has met with several vendors to ensure our software will be updated with the new NSPIRE inspection protocol. OHFA will continue using the Uniform Physical Condition Standards (UPCS) protocol from January 1 to September 30, 2024. Effective October 1, 2024, audits will be conducted using NSPIRE protocol.

2024 Annual Owner Reporting: What’s New?

The due date for submitting Annual Owner Certifications (AOCs) will be here before we know it! Owners must submit their AOCs by March 1, 2024. There are two changes to the AOC: 

• VAWA questions have been added to ensure owners are complying with the 2022 VAWA Rule. Owners must report the total number of VAWA requests for internal and external emergency transfers and safe unit requests. Propriety information will not be disclosed.

• Owners/Property management agents must enter current AOC contact information even if a name is already listed. 

OHFA Sponsored Trainings: Don’t Miss Out!

NSPIRE

January 18, 2024, 9 a.m. - 4 p.m.

Be sure to join US Housing Consultants (USHC) in person for a NSPIRE training. Whether you're managing a HUD or Low-Income Housing Tax Credit program property, NSPIRE is now the universal inspection standard. USHC is offering a first-of-its-kind comprehensive NSPIRE certification course for all funding programs and applications.

Contact Betsy Krieger at bkrieger@ohiohome.org with registration questions or issues. 

HOTMA: Preparing HOTMA Policies for

HUD and LIHTC Properties

January 17, 2024, 1-3 p.m.

This webinar training will be presented by Ohio Capital Corporation for Housing (OCCH) through its Affordable Housing Training Academy (AHTA). Since HUD released the HOTMA Implementation Notice (Notice H 2023.10/ PIH 2023-27) on September 29, 2023, there are many questions on how to proceed with implementation of the new HOTMA regulations. Discussion will include but is not limited to: 

• The new timeline for implementation,
• Required and discretionary policy changes and how to integrate them into your current policies,
• The latest information on how these HOTMA changes will impact LIHTC communities.

If you are not yet a subscriber of AHTA and would like to take this webinar on an a la carte basis, register here.

Contact Melanie Shapiro at mshapiro@occh.org with any registration questions or issues. 

Stay Informed! 

Subscribe to OHFA’s Constant Contact email distribution list at Join our Email List, which allows you to receive important notifications concerning regulatory and policy changes, development updates, and much more. Please forward the subscription link to all those on your staff that may benefit from this type of information.