HUD Publishes Notice CPD 18-09: Requirements for HOME Homebuyer Program Policies and Procedures
HUD's Office of Affordable Housing Programs (OAHP) has issued Notice CPD 18-09: Requirements for HOME Homebuyer Program Policies and Procedures. This Notice provides guidance to HOME Investment Partnerships Program (HOME) participating jurisdictions (PJs) on the homebuyer program requirements set forth in the HOME regulations at 24 CFR 92.254(f). PJs must implement these requirements for all homebuyers who receive HOME assistance or purchase a unit developed with HOME funds.
The Notice assists PJs to develop written policies and procedures for homebuyer projects and programs related to:
- Homebuyer underwriting standards
- Responsible lending standards
- Standards for refinancing and subordination of HOME loans
The Notice also addresses the housing counseling requirements for HOME-assisted homebuyer, including the use of HUD-approved counselors and housing counseling agencies.