Made mandatory in 2010, the HUD’s Enterprise Income Verification (EIV) system puts the responsibility on the owner and managing agents (O/As) to investigate and resolve incorrect reporting of income by a tenant. Once O/As learn of a discrepancy in a tenant’s income, they must investigate and determine whether it is valid. At the same time, they cannot suspend, terminate, reduce, deny rental assistance, or take any other adverse action against the tenant in question, based solely on the EIV data.
Again, if the tenant disputes the EIV data it is the O/A’s responsibility to independently verify the information by consulting a third party, and obtaining verification directly from them. The tricky part is knowing when and how to use them, and how to proceed when discrepancies are discovered. It is also difficult for owners and agents to constantly remain abreast of latest changes and to make sense of all the rules and procedures.
Join this webinar by expert speaker Paul Flogstad to get a better understanding of EIV discrepancy reporting, investigation and resolution. Learn about your responsibilities as O/As and key steps you need to take to investigate and resolve income discrepancies. Also, get to know how to carry out an investigation once a discrepancy is identified and important dos and don’ts you should follow.
- How to investigate and confirm discrepancies in a tenant’s income report
- How to determine whether a discrepancy is valid
- What you must and must not do, based on the EIV data
- What to do when you spot a discrepancy
- What to do when the tenant disputes the data in EIV
- How you can settle current discrepancies in the EIV system, by consulting a third party
- How to measure and monitor staff performance
- Real world case studies
Who Will Benefit:
- Owners/agents of multifamily properties
- Leasing personnel
- Compliance personnel
- Multifamily EIV coordinators
- EIV users within HUD secure systems
- Individuals responsible for completing HUD Form 50059