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Understanding Tax Credit and Home Essentials: Compliance and Application Insights

This comprehensive guide focuses on essential aspects of tax credit and home essentials compliance, providing insights from the IHFA Compliance Department. It covers the importance of initial interviews, methods of pre-qualification, verifying gross income, and effectively using various forms of documentation. Key topics include employment verification, calculating income from assets, tenant income certification, and managing household changes. This resource aims to ensure your understanding of compliance requirements, helping you navigate the complexities of applicant qualification.

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Understanding Tax Credit and Home Essentials: Compliance and Application Insights

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Presentation Transcript

  1. Tax Credit & HOME Essentials 2008 Brought to you by IHFA Compliance Department

  2. Contact Information

  3. GOOD MORNING

  4. The Initial Interview

  5. Three Reasons To Have A Sit Down Interview At Application

  6. Processing The Application

  7. Look For Conflicting Information

  8. Common Findings

  9. Pre-Qualification/Estimating Gross Income

  10. Does Our Applicant Possibly Qualify?

  11. Time To Verify!

  12. Three Forms of Verification

  13. Third Party Verification

  14. What’s Missing?

  15. Second Party Documentation

  16. When To Use Second Party Documentation

  17. Self Certification

  18. When To Use A Self Certification

  19. Break Time!

  20. Calculating Income

  21. Employment Verification

  22. Social Security & Recurring Income

  23. Common Findings

  24. Questions On Income Calculations

  25. Calculating Assets

  26. Income From Assets (Bank Accts.)

  27. Cash Value of Real Property

  28. Total Income From Assets

  29. Common Findings

  30. Questions About Assets

  31. Tenant Income Certification

  32. Dates, Dates, Dates

  33. Common Findings

  34. Adding A Household Member Post M/I

  35. The Sister Joins The Household

  36. Re-qualify The Household

  37. Income Breakdown

  38. Does The Household Still Qualify?

  39. Questions????????

  40. LUNCH BREAK

  41. Welcome Back

  42. Re-Certification

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