Current through Register Vol. 54, No. 25, June 22, 2024
Section 31.20 - Income verification(a) To assure that the maximum annual income limits for low and moderate income families are being complied with, the mortgagor must verify the income eligibility of tenants.(b) Verification shall be accomplished by the applicant for a rental unit signing a release which authorizes the mortgagor to request a written verification of the most recent yearly income from the applicant's employer. Copies of correspondence for income verification must be maintained on file by the mortgagor.(c) Reexamination of income shall occur at least once every 2 years or more often as may be required by the Agency.