HUD updates Passbook Savings Rate Effective February 1, 2015

Effective 2/1/2015 the HUD Passbook rate for inputting assets ( formerly 2%) will be reduced to 0.06%

This notice provides guidance to owners of HUD Multifamily Housing subsidized properties related to the passbook savings rate used to determine annual income from net family assets. Beginning February 1, 2015, Multifamily will annually publish the passbook savings rate to be used for all certifications to replace the previously set rate of 2% with a rate reflective of the national average.

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Posted in: Fair Housing, HUD, LIHTC, USDA