Excluded Income Verification; Disaster Moratorium Extended and Evictions Suspended

5th Edition: 1/28/13-2/1/13

Reno & Cavanaugh's Housing Notices Newsletter contains weekly notices,

proposed rules and relevant information on HUD policy and regulations. For more

information, please visit www.renocavanaugh.com and R&C's Housing Policy

Group's webpage.

News of Note:

1. Applicable to the Public Housing, Housing Choice Voucher (including the project-based certificate and voucher), and Section 8 Moderate Rehabilitation programs, the Guidance on Verification of Excluded Income notice provides clarification on the verification requirements of income excluded (fully excluded and partially excluded) from the determination of annual income in accordance with 24 CFR 5.609(c).

2. Per Mortgagee Letter 2013-06, HUD is extending the disaster moratorium and suspending evictions for specified properties impacted by Hurricane Sandy. Mortgagee Letter 2012-23 requires a moratorium on foreclosures (the initiation of and for those already in process) of properties in counties that FEMA has declared to be eligible for assistance for a 90-day period from the date of each Disaster Area declaration. Evictions of persons from properties secured by FHA mortgages in these counties are suspended until April 30, 2013. For information on relief options, please see FHA's Disaster Relief Options for FHA Homeowners.

Here are the housing notices for this week:

NAME OF NOTICE	TITLE	ISSUE DATE OR PAGE NUMBER		INFORMATION
CPD Notices	No new notices
PIH Notices	Guidance on Verification of Excluded Income	PIH 2013-04 (HA) Issued: January 28, 2013 Expires: This notice remains in effect until amended, superseded or rescinded	This notice provides clarification and guidance on the verification requirements of income excluded from the determination of annual income in accordance with 24 CFR 5.609(c).
Housing Notices	Home Equity Conversion Mortgage Program - Consolidation of Pricing Options and Principal Limit Factors for Fixed Interest Rate Mortgages	2013-01
	Collection Procedures for Delinquent Section 201 Flexible Subsidy Loans	2013-02
Mortgagee Letters	Home Equity Conversion Mortgage Program - Consolidation of Pricing Options and Principal Limit Factors for Fixed Interest Rate Mortgages Mortgagee Letters	2013-01
	Home Equity Conversion Mortgage (HECM) Program - Amended Late Request for Endorsement Procedures	2013-02
	Extension of Implementation Date for Mortgagee Letter 2012-22, Revisions to FHA's Loss Mitigation Home Retention Options	2013-03
	Revision of Federal Housing Administration (FHA) policies concerning cancellation of the annual Mortgage Insurance Premium (MIP) and increase to the annual MIP	2013-04
	Manual Underwriting for Loans with Decision Credit Score Below 620 and Total Fixed Payments to Effective Income Ratio Exceeding 43.00%	2013-05
	Extension of Disaster Moratorium and Suspension of Evictions for Specified Properties Impacted by Hurricane Sandy	2013-06
Federal Register Notices
Rules and Regulations	No new notices
Proposed Rules	No new notices
Notices	Housing Choice Voucher Program; Office of Public and Indian Housing Announcement of Funding Awards for Fiscal Year 2012	PDF \| Text \| More Issued: January 30, 2013 Pages 6334-6342
	Request for Comment on the Redesign of the American Housing Survey	PDF \| Text \| More Issued: February 1, 2013 Pages 7443-7445

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Contact: Stephen I. Holmquist, Member: (202) 349-2462 or sholmquist@renocavanaugh.com

Julie S. McGovern, Member: (202) 349-2472 or jmcgovern@renocavanaugh.com

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