MHDC Compliance Updates
MHDC has recently issued an updated compliance form, HOME Lease Addendum – Exhibit R, and Compliance Manual Revision Notice 13-001. Please begin using the new Exhibit R at all HOME-financed properties immediately. Revision Notice 13-001 pertains to the Student Rule and an exception for married couples who file or are eligible to file jointly. The IRS has recently clarified they recognize a marriage of same-sex individuals that was validly entered into in a state whose laws authorize the marriage of two individuals of the same sex even if the married couple is domiciled in a state that does not recognize the validity of same-sex marriages.
You may download the new Exhibit R and the Revision Notice below. And as always, please feel free to contact Colleen Kirby or Amy McDermott with any compliance questions.