What Do They Stand For?
TIC
Tenant Income Certification
How many stubs are required for income verification?
61-days worth- 3, 5 or 9 stubs depending on the number of pay periods
How many stubs are required by Highmark in every HOTMA file?
2 stubs for monthly pay and 4 stubs for bi-weekly, semi-monthly and weekly pay
The 1040
An EV without the applicant's/resident's signature or position cannot be accepted. True or False? Why?
F The site can attach the Tenant Release and consent form
Rent and Income Sheet
Are unborn children counted as household members?
No.
Generic e-mails cannot be accepted. True or false? Why?
False
Can the same person receive income from Self-Employment and also business income?
Yes, they can.
How many months are required for child support income verification for every Texas file?
4 months
ACD
Assistant Community Director
Verification of assets are required only if they exceed the threshold. True or False? Why?
F Verification of assets are always required regardless of the total cash value.
Any 1k difference between the app and what was verified by the employer should be addressed in the file. True or False? Why?
False
Why is the start date of self-employment important? Name 2 reasons
1. Annualization would be required
2. Taxes may or may not be provided
In a child support payment history, which amount should be used: the amount paid OR the amount sent to you? Why?
The amount sent to you. They could be paying two different open cases.
CSS
Compliance Support Specialist
What are the 2 rent limits for HOME sites?
LOW HOME 50%
HIGH HOME 60%
When is the CSS approval required for not using the Work Number report?
When there is full information available, but it is not accurate for some reason.
What forms are required for business income verification?
Schedule E and the K-1
When is Room and Board counted in the Student Financial Assistance calculations?
If they live in the school
ECM
Energy Consumption Model
When will 2 months of bank statements be required in a HOME file?
For ICs, 2 stubs can be accepted for income verification of weekly pay if the applicant is a new hire. True or False? Why?
Name 5 documents that can be accepted for verification instead of the 1040.
The P&L statement
The accountant financial statement
The WN report showing 1099 or contractor
Stubs or pay slips
En EV
A contract
Name 5 charges that may be included in the Student Financial Assistance calculations.
Tuition
Fees
Scholarships
Pell Grant
Teach Grant
Room and Board