Monitoring under Homeownership Set-Aside Programs.

CFR · 2024-01-01 · US · Title 12

(a) (1) The AHP subsidy was provided to households meeting all applicable eligibility requirements in § 1291.42(b) and the Bank's Homeownership Set-Aside Program policies; and (2) All other applicable eligibility requirements in § 1291.42 and the Bank's Homeownership Set-Aside Program policies are met, including that the AHP-assisted units are subject to retention agreements, as required under § 1291.15(a)(7), where the AHP subsidy was used for purchase of the unit, or for purchase of the unit in conjunction with rehabilitation. (b) (1) Bank review of certifications by members to the Bank, prior to disbursement of the AHP subsidy, that the subsidy will be provided in compliance with all applicable eligibility requirements in § 1291.42; (2) Bank review of back-up documentation regarding household incomes maintained by the member; and (3) Maintenance and Bank review of other documentation in the Bank's discretion. (c)

official document · source cfr-2024 · id 12:§ 1291.51