COS HUD Compliance & Regulatory Requirements Flashcards
6 cards from real COS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 COS HUD Compliance & Regulatory Requirements flashcards as text
What HUD handbook primarily governs occupancy requirements for subsidized multifamily housing programs?
Answer: HUD Handbook 4350.3
HUD Handbook 4350.3 REV-1 is the primary reference governing occupancy requirements for subsidized multifamily housing programs.
What is the primary purpose of HUD's Enterprise Income Verification (EIV) system?
Answer: To verify income and detect fraud in HUD programs
The EIV system verifies tenant income and detects potential fraud, errors, and abuse in HUD housing assistance programs.
When must owners run EIV Income Reports during the recertification process?
Answer: As part of each annual recertification
EIV Income Reports must be run as part of each annual recertification to verify current tenant income against federal records.
What does 'subsidy layering' refer to in HUD multifamily programs?
Answer: Combining multiple federal, state, or local subsidies for a single project
Subsidy layering occurs when multiple government subsidies are combined for one housing project, which HUD reviews to prevent excessive assistance.
What may HUD impose on an owner who fails to correct compliance deficiencies within the required timeframe?
Answer: Civil money penalties or suspension/termination of the HAP contract
HUD may impose civil money penalties or suspend/terminate the Housing Assistance Payments (HAP) contract for unresolved compliance deficiencies.
What is a Management and Occupancy Review (MOR)?
Answer: HUD's on-site review of a property's compliance with program requirements
A Management and Occupancy Review (MOR) is HUD's on-site assessment of whether a property operates in compliance with program requirements and its HAP contract.
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