Download presentation
Presentation is loading. Please wait.
Published bySimon McCarthy Modified over 9 years ago
1
1 A D V A N C E D T E C H N O L O G Y S Y S T E M S U.S. Department of Housing and Urban Development (HUD) Tenant Rental Assistance Certification System (TRACS) TRACS Security Deposits March 3, 2005
2
2 Agenda n Current Security Deposit Logic n Revised 4350.3 Handbook Security Deposit Changes n Security Deposits Amount n Revised Discrepancies n New Discrepancies
3
3 Current Security Deposit Logic n Based on subsidy type. n Does not differentiate among Section 8 programs.
4
4 Revised 4350.3 Handbook Changes n Differentiates among Sec 8 programs. n Expects a specific security deposit amount based on subsidy type and/or program guideline id. n Makes collecting a security deposit a prerequisite for special claims approval (Sec 8, PAC, PRAC).
5
5 Amount collected for Sec 8 depends on: n Program type n Date AHAP or HAP contract was signed. n Amount of TTP Security Deposit Amount
6
6 Revised Discrepancies n CE131 –Transaction type other than MI (Sec 8, PAC, or PRAC) –Submitted security deposit equals $0.0. –“Security Deposit is Now Being Collected by TRACS.” –Action Required = 3
7
7 Revised Discrepancies n CE252 –Transaction type equals MI -Subsidy type (202 PAC, 202/811 PRAC) -Submitted amount does not equal the greater of TTP or $50.
8
8 Revised Discrepancies n CE252 - “Security Deposit Should Equal the Greater of Total Tenant Payment or $50.” –Action Required = 3
9
9 New Discrepancies n CE259 _ Transaction type = MI – Subsidy type = Section 8 – Program types a) New Construction (with AHAP executed before 11/5/79) b) New Construction FMHA (RHS 515 with Section 8)
10
10 New Discrepancies n CE259(cont) c) Substantial Rehab (with AHAP executed before 2/20/80) d) State Agency (with AHAP executed before 2/29/80)
11
11 New Discrepancies n CE259(cont) - Submitted amount does not equal 1 month’s TTP. - “Security Deposit for this Section 8 Program Should Equal One Month’s TTP.” - Action Required = 3
12
12 n CE260 – Transaction type = MI – Subsidy type = Section 8 – Program types a) Property Disposition (with sale of HUD owned property) b) Section 202 (with Section 8 or PAC) New Discrepancies
13
13 n CE260 (cont) c) State Agency (with AHAP executed on or after 2/29/80) d) New Construction (with AHAP executed on or after 11/5/79) e) Substantial Rehab (with AHAP executed on or after 2/20/80) New Discrepancies
14
14 n CE260 (cont) -Submitted amount is not the greater of 1month’s TTP or $50. - “Security Deposit for this Sec 8 Program Should Equal the Greater of TTP or $50.” -Action Required = 3 New Discrepancies
15
15 n CE261 –Transaction type = MI –Subsidy type = Section 8 –Program type Loan Management Set-Aside New Discrepancies
16
16 n CE261 -Submitted amount is greater than 1 month’s TTP. –“Security Deposit for this Sec 8 Program May Not Exceed TTP.” –Action Required = 3 New Discrepancies
17
17 n Submission of a security deposit in installments n Opt-Out provision for PAC and PRAC properties Features Requiring Tenant MAT Changes
18
18 n Rent Supp, RAP, Sec 236, BMIR -TRACS will accept the s ubmitted security deposit amount. -No discrepancy will be generated. Other Subsidy Types
19
19 http://www.hud.gov/offices/hsg/mfh/trx/ trxdocs.cfm TRACS Documents Page
20
20 The End TRACS Security Deposits
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.