Article | Unique Rural Development Provisions #2 | Verification Lifespans

This quarterly series discusses unique aspects of the Rural Development 3560 regulations as explained in the Asset Management Handbook, HB-2-3560. The focus is on issues that affect the everyday management of RD multifamily communities.

With the Rural Development HB-2-3560 asset management handbook came a new lifespan for verification forms in the RD programs. It explained:

“Written income-related verifications are valid for 90 davs and may be valid for an additional 90 davs with oral reverification at the end of the 90-dav period. In no case may information that is older than 180 days be used.”

HB-2-3560 6.10 B

This means that, as long as all of the information provided on a form is orally verified to be still current, the verifications can be used for a certification for up to roughly 6 months from the date that they are initially received. This is more than the max 120 days allowed by other programs such as HUD and the LIHTC. In general, this will give RD properties greater flexibility. As with all affordable housing, oral reverification should be thoroughly documented in writing and attached to the original verification. Please note that if your community is both tax credit or HUD and RD, the more restrictive LIHTC/HUD 120 day max timeframe applies, but if it is older than 90 days, it will need to be reverfied through verbal clarification to meet RD needs.

 Check it out HERE! Looking for quality online on-demand Rural Development Qualifying Households training? For new managers or a great refresher for more experienced ones. Combined program versions are also available.