COS File Documentation & Recertification Procedures Flashcards

Which income verification method is considered least preferred in the HUD verification hierarchy?

Answer: Tenant self-certification

Tenant self-certification is the least preferred verification method and should only be used when no other verification option is available.

When household net family assets exceed $5,000, what additional calculation must the owner perform?

Answer: Calculate imputed income using the HUD passbook savings rate

When total net family assets exceed $5,000, owners must calculate imputed income by applying the HUD passbook savings rate to the total asset value and use the greater of actual or imputed income.

What is the purpose of the EIV Existing Tenant Search function?

Answer: To identify if an applicant is already receiving HUD rental assistance at another property

The EIV Existing Tenant Search determines whether an applicant is currently receiving HUD rental assistance at another property before approving new assistance.

What documentation must be in a tenant's file to support a claimed medical expense deduction?

Answer: A doctor's bill, prescription, or insurance statement verifying the expense

Medical expense deductions must be supported by third-party documentation such as a doctor's bill, prescription, or insurance statement verifying the legitimacy of the expense.

In Section 8 programs, how is Tenant Rent (TR) calculated?

Answer: Total Tenant Payment minus the Utility Allowance

Tenant Rent equals Total Tenant Payment (TTP) minus the Utility Allowance, representing the amount the tenant pays directly to the owner.

Which of the following is NOT a required element of a move-in tenant file in HUD programs?

Answer: Tenant's credit score report

A credit score report is not a required element of the HUD move-in certification file; HUD requires income verification, certification forms, and a signed lease.