HUD Publishes Notice on HOME Homebuyer Program

On August 8, HUD’s Office of Community Planning and Development posted Notice CPD-18-09, “Requirements for HOME Homebuyer Program Policies and Procedures.” The Notice provides guidance to HOME Investment Partnerships Program (HOME) participating jurisdictions (PJs) on requirements for the homebuyer program. Requirements include: homebuyer underwriting standards, responsible legal standards, and standards for refinancing and subordination of HOME loans. PJs must implement these requirements for all homebuyers who receive HOME assistance of purchase a unit developed with HOME funds.

The Notice also includes guidance on the housing counseling requirements for the HOME Homebuyer Program, including the use of HUD-approved counselors and housing counseling agencies.