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Exhibit 5-3 Acceptable Forms of Verification

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Exhibit 5-3 Acceptable Forms of Verification Powered By Docstoc
					                                   Rental Housing Support Program



                                    Acceptable Forms of Verification




Rental Housing Support Program
Acceptable Forms of Verification
April 2008
                               WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL


                                                                Appendix           : Acceptable Forms of Verification

                                                                                     ACCEPTABLE SOURCES
                                                                    a
                                                         Third Party                            Documents Provided by
       Factor to be Verified                Writtenb                       Oralc                     Applicant                        Self-Declaration                    Verification Tips

     Age.                          None required.              None required.


     Alimony or child support.     Copy of separation or       Telephone or in-person       Copy of most recent             Notarized statement or           Amounts awarded but not
                                     divorce agreement            contact with ex-spouse or     check, recording date,           affidavit signed by applicant     received can be excluded from
                                     provided by ex-spouse        income source                 amount, and check                indicating amount received.       annual income only when
                                     or court indicating type     documented in file by the     number.                         If applicable, notarized          applicants have made
                                     of support, amount, and      owner.                       Recent original letters from     statement or affidavit from       reasonable efforts to collect
                                     payment schedule.                                          the court.                       applicant indicating that         amounts due, including filing with
                                     Printouts from the          NOTE: For all oral                                             payments are not being            courts or agencies responsible
                                     agency responsible for       verification, file                                             received and describing           for enforcing payments.
                                     enforcing payments.          documentation must                                             efforts to collect amounts
                                    Written statement            include facts, time and                                        due.
                                     provided by ex-spouse        date of contact, and
                                     or income source             name and title of third
                                     indicating all of above.     party.
                                    If applicable, written
                                     statement from
                                     court/attorney that
                                     payments are not being
                                     received and
                                     anticipated date of
                                     resumption of
                                     payments.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                       1-12
                      WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL
                                                            Appendix            : Acceptable Forms of Verification

                                                                                  ACCEPTABLE SOURCES
                                                       Third Partya                        Documents Provided by
       Factor to be Verified                Writtenb                   Oralc                    Applicant                   Self-Declaration                    Verification Tips

     Assets disposed of less for    None required.          None required.             None required.             Certification signed by          Only count assets disposed of
      than fair market value.                                                                                          applicant that no member of       within a two-year period prior to
                                                                                          May provide closing         family has disposed of            examination or re-examination.
                                                                                           statements of accounts,     assets for less than fair
                                                                                           receipts for selling of     market value during
                                                                                           property, ect.              preceding two years.

                                                                                                                      If applicable, certification
                                                                                                                       signed by the owner of the
                                                                                                                       asset disposed of that
                                                                                                                       shows:

                                                                                                                       - Type of assets disposed of;

                                                                                                                       - Date disposed of;

                                                                                                                       - Amount received; and

                                                                                                                       - Market value of asset at
                                                                                                                         the time of disposition.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                  2-12
                               WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL


                                                               Appendix           : Acceptable Forms of Verification

                                                                                    ACCEPTABLE SOURCES
                                                                   a
                                                        Third Party                           Documents Provided by
       Factor to be Verified               Writtenb                       Oralc                    Applicant                        Self-Declaration                    Verification Tips

     Current family assets.        Verification forms,        Telephone or in-person      Passbooks, checking, or         Notarized statement or           Use average monthly balance in
                                     letters or documents        contact with appropriate     savings account                  signed affidavit stating cash     savings accounts for the last 3
                                     received from financial     source, documented in        statements, certificates of      value of assets or verifying      months and average monthly
                                     institutions, stock         file by the owner.           deposit, property                cash held at applicant’s          balance in checking accounts for
                                     brokers, real estate                                     appraisals, stock or bond        home or in safe deposit box.      last 3 months
                                     agents, employers          NOTE: For all oral           documents, or other
                                     indicating the current      verification, file           financial statements                                              Use cash value of all assets (the
                                     value of the assets and     documentation must           completed by financial                                             net amount the applicant would
                                     penalties or reasonable     include facts, time and      institution.                                                       receive if the asset were
                                     costs to be incurred in     date of contact, and                                                                            converted to cash).
                                     order to convert            name and title of third     Copies of real estate tax
                                     nonliquid assets into       party.                       statements, if tax authority
                                     cash.                                                                                                                      NOTE: This information can
                                                                                              uses approximate market                                            usually be obtained
                                                                                              value.                                                             simultaneously when verifying
                                                                                                                                                                 income from assets and
                                                                                             Quotes from attorneys,                                             employment (e.g., value of
                                                                                              stockbrokers, bankers,                                             pension).
                                                                                              and real estate agents that
                                                                                              verify penalties and
                                                                                              reasonable costs incurred
                                                                                              to convert asset to cash.

                                                                                             Copies of real estate
                                                                                              closing documents that
                                                                                              indicate distribution of
                                                                                              sales proceeds and
                                                                                              settlement costs.


b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                     3-12
                     WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL
                                                               Appendix            : Acceptable Forms of Verification

                                                                                      ACCEPTABLE SOURCES
                                                          Third Partya                           Documents Provided by
       Factor to be Verified               Writtenb                        Oralc                      Applicant                       Self-Declaration            Verification Tips

     Dividend income and           Verification form           Telephone or in-person        Copies of current              Not appropriate.         Local Administering Agency and
      savings account interest       completed by bank.            contact with appropriate      statements, bank                                          Landlord must obtain enough
      income.                                                      party, documented in file     passbooks, certificates of                                information to accurately project
                                                                   by the owner.                 deposit, if they show                                     income over next 12 months.
                                                                                                 required information (i.e.,
                                                                 NOTE: For all oral             current rate of interest).                               Verify interest rate as well as
                                                                  verification, file                                                                       asset value.
                                                                  documentation must            Copies of Form 1099 from
                                                                  include facts, time and        the financial institution,
                                                                  date of contact, and           and verification of
                                                                  name and title of third        projected income for the
                                                                  party.                         next 12 months.

                                                                                                Broker’s quarterly
                                                                                                 statements showing value
                                                                                                 of stocks/bonds and
                                                                                                 earnings credited to the
                                                                                                 applicant.`




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                        4-12
                                WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL


                                                               Appendix           : Acceptable Forms of Verification

                                                                                    ACCEPTABLE SOURCES
                                                                   a
                                                        Third Party                          Documents Provided by
        Factor to be Verified               Writtenb                      Oralc                   Applicant                      Self-Declaration                     Verification Tips

     Employment Income              Verification form         Telephone or in-person     W-2 Forms, if applicant       Notarized statements or           Always verify: frequency of gross
      including tips, gratuities,     completed by employer.     contact with employer,      has had same employer          affidavits signed by applicant     pay (i.e., hourly, biweekly,
      overtime.                                                  specifying amount to be     for at least two years and     that describe amount and           monthly, bimonthly); anticipated
                                                                 paid per pay period and     increases can be               source of income.                  increases in pay and effective
                                                                 length of pay period.       accurately projected.                                             dates; overtime.
                                                                 Document in file by the
                                                                 owner.                     Paycheck stubs or earning                                        Require most recent 6-8
                                                                                             statements (6 to 8 check                                          consecutive pay stubs; do not
                                                                NOTE: For all oral          stubs).                                                           use check without stub.
                                                                 verification, file
                                                                 documentation must                                                                           For a fee, additional information
                                                                 include facts, time and                                                                       can be obtained from The Work
                                                                 date of contact, and                                                                          Number 800-996-7556; First
                                                                 name and title of third                                                                       American Registry 800-999-
                                                                 party.                                                                                        0350; and Verifax 800-969-5100.
                                                                                                                                                               Fees are valid project expenses.
                                                                                                                                                               Information does not replace
                                                                                                                                                               third-party verification.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                   5-12
                      WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL
                                                                   Appendix           : Acceptable Forms of Verification

                                                                                        ACCEPTABLE SOURCES
                                                            Third Partya                           Documents Provided by
        Factor to be Verified                 Writtenb                        Oralc                          Applicant         Self-Declaration           Verification Tips
                                                                                                   Birth certificates
     Household Composition.          Head of House Provides       None required.                Divorce actions                                Local Administering Agency and
                                                                                                                                                    Landlord may seek verification
                                                                                                   Drivers’ licenses
                                                                                                                                                    only if Local Administering
                                                                                                   Employer records
                                                                                                                                                    Agency and Landlord has a clear
                                                                                                   Income tax returns                              written policy.
                                                                                                   Marriage certificates
                                                                                                   School records
                                                                                                   Social Security
                                                                                                    Administration records
                                                                                                   Social service agency
                                                                                                    records
                                                                                                   Support payment records
                                                                                                   Utility bills
                                                                                                   Veterans Administration
                                                                                                    (VA) records

     Full-time student status (of    Verification from the        Telephone or in-person     School records, such as
      family member 18 or older,       Admissions or                 contact with these          paid fee statements that
      excluding head, spouse,          Registrar’s Office or         sources documented in       show a sufficient number
      or foster children).             dean, counselor,              file by the owner.          of credits to be considered
                                       advisor, etc., or from VA                                 a full-time student by the
                                       Office.                      NOTE: For all oral          educational institution
                                                                     verification, file          attended.
                                                                     documentation must
                                                                     include facts, time and
                                                                     date of contact, and
                                                                     name and title of third
                                                                     party.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                        6-12
                               WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL


                                                              Appendix           : Acceptable Forms of Verification

                                                                                   ACCEPTABLE SOURCES
                                                                  a
                                                       Third Party                          Documents Provided by
       Factor to be Verified               Writtenb                      Oralc                   Applicant              Self-Declaration                Verification Tips

     Income maintenance            Award or benefit          Telephone or in-person     Current or recent check                             Checks or automatic bank
      payments, benefits,            notification letters       contact with income         stubs with date, amount,                             deposit slips may not provide
      income other than wages        prepared and signed by     source, documented in       and check number                                     gross amounts of benefits if
      (i.e., welfare, Social         authorizing agency.        file by the owner.          recorded by the owner.                               applicant has deductions made
      Security [SS],                                                                                                                             for Medicare Insurance.
      Supplemental Security                                    NOTE: For all oral         Award letters or computer
      Income [SSI], Disability                                  verification, file          printout from court or                              Pay stubs for the most recent four
      Income, Pensions).                                        documentation must          public agency.                                       to six weeks should be obtained.
                                                                include facts, time and
                                                                date of contact, and       Most recent quarterly                               Copying of U.S. Treasury checks
                                                                name and title of third     pension account                                      is not permitted.
                                                                party.                      statement.
                                                                                                                                                Award letters/printouts from court
                                                                                                                                                 or public agency may be out of
                                                                                                                                                 date; telephone verification of
                                                                                                                                                 letter/printout is recommended.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                  7-12
                       WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL
                                                                 Appendix           : Acceptable Forms of Verification

                                                                                      ACCEPTABLE SOURCES
                                                           Third Partya                         Documents Provided by
        Factor to be Verified                 Writtenb                      Oralc                    Applicant                Self-Declaration            Verification Tips

     Interest from sale of real      Verification form          Telephone or in-person       Copy of the contract.                            Only the interest income is
      property (e.g., contract for     completed by an             contact with appropriate                                                        counted; the balance of the
      deed, installment sales          accountant, attorney,       party, documented in file    Copy of the amortization                          payment applied to the principal
      contract, etc.)                  real estate broker, the     by the owner.                 schedule, with sufficient                         is merely a liquidation of the
                                       buyer, or a financial                                     information for the owner                         asset.
                                       institution which has      NOTE: For all oral            to determine the amount
                                       copies of the               verification, file            of interest to be earned                         Local Administering Agency and
                                       amortization schedule       documentation must            during the next 12 months.                        Landlord must get enough
                                       from which interest         include facts, time and                                                         information to compute the
                                       income for the next 12      date of contact, and                                                            actual interest income for the
                                       months can be                                            NOTE: Copy of a check
                                                                   name and title of third       paid by the buyer to the                          next 12 months.
                                       obtained.                   party.                        applicant is not
                                                                                                 acceptable.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                       8-12
                               WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL


                                                            Appendix             : Acceptable Forms of Verification

                                                                                   ACCEPTABLE SOURCES
                                                                 a
                                                       Third Party                          Documents Provided by
       Factor to be Verified               Writtenb                     Oralc                    Applicant                 Self-Declaration            Verification Tips

     Net Income for a business.    Not applicable.          Not applicable.             Form 1040 with Schedule
                                                                                            C, E, or F.

                                                                                           Financial Statement(s) of
                                                                                            the business (audited or
                                                                                            unaudited) including an
                                                                                            accountant’s calculation of
                                                                                            straight-line depreciation
                                                                                            expense if accelerated
                                                                                            depreciation was used on
                                                                                            the tax return or financial
                                                                                            statement.

                                                                                           Any loan application listing
                                                                                            income derived from
                                                                                            business during the
                                                                                            preceding 12 months.

                                                                                           For rental property, copies
                                                                                            of recent rent checks,
                                                                                            lease and receipts for
                                                                                            expenses, or IRS
                                                                                            Schedule E.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                   9-12
                     WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL
                                                               Appendix           : Acceptable Forms of Verification

                                                                                    ACCEPTABLE SOURCES
                                                         Third Partya                         Documents Provided by
       Factor to be Verified                Writtenb                      Oralc                    Applicant                    Self-Declaration                      Verification Tips

     Recurring contributions       Notarized statement or     Telephone or in-person       Not applicable.            Notarized statement or             Sporadic contributions and gifts
      and gifts.                     affidavit signed by the     contact with source                                       affidavit signed by applicant       are not counted as income.
                                     person providing the        documented in file by the                                 stating purpose, dates, and
                                     assistance giving the       owner.                                                    value of gifts.
                                     purpose dates, and
                                     value of gifts.            NOTE: For all oral
                                                                 verification, file
                                                                 documentation must
                                                                 include facts, time and
                                                                 date of contact, and
                                                                 name and title of third
                                                                 party.




     Self-employment, tips,       None available.             None available.                Form 1040/1040A showing    Notarized statement or
      gratuities, etc.                                                                         amount earned and           affidavit signed by applicant
                                                                                               employment period.          showing amount earned and
                                                                                                                           pay period.




     Unborn children.              None required.             None required.               None required.             Applicant/tenant self-certifies    Local Administering Agency and
                                                                                                                           to pregnancy.                       Landlord may not verify further
                                                                                                                                                               than self-certification.


b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                   10-12
                               WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL


                                                            Appendix            : Acceptable Forms of Verification

                                                                                  ACCEPTABLE SOURCES
                                                                 a
                                                       Third Party                         Documents Provided by
       Factor to be Verified               Writtenb                     Oralc                   Applicant                Self-Declaration               Verification Tips

     Unemployment                  Verification form        Telephone or in-person     Copies of checks or                                  Frequency of payments and
      compensation.                  completed by source.      contact with agency         records from agency                                   expected length of benefit term
                                                               documented in a file by     provided by applicant                                 must be verified.
                                                               an owner.                   stating payment amounts
                                                                                           and dates.                                           Income not expected to last full
                                                              NOTE: For all oral                                                                12 months must be calculated
                                                               verification, file         Benefit notification letter                           based on 12 months and interim
                                                               documentation must          signed by authorizing                                 recertification completed when
                                                               include facts, time and     agency.                                               benefits stop.
                                                               date of contact, and
                                                               name and title of third
                                                               party.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                 11-12
                     WRITTEN THIRD PARTY VERIFICATION IS REQUIRED THIS IS NOT OPTIONAL
                                                             Appendix             : Acceptable Forms of Verification

                                                                                    ACCEPTABLE SOURCES
                                                        Third Partya                         Documents Provided by
       Factor to be Verified                Writtenb                     Oralc                    Applicant                      Self-Declaration                Verification Tips

     Welfare payments (as-paid     Verification form         Telephone or in-person      Maximum shelter               Not appropriate.             Actual welfare benefit amount
      states only).                  completed by welfare       contact with income          allowance schedule with                                      not sufficient as proof of income
                                     department indicating      source, documented in        ratable reduction schedule                                   in “as-paid” states or localities
                                     maximum amount             file by the owner.           provided by applicant.                                       since income is defined as
                                     family may receive.                                                                                                  maximum shelter amount.
                                                               NOTE: For all oral
                                    Maximum shelter            verification, file
                                     schedule by household      documentation must
                                     size with ratable          include facts, time and
                                     reduction schedule.        date of contact, and
                                                                name and title of third
                                                                party.




     Zero Income.                  Not applicable.           Not applicable.             Not applicable.               Applicant/Household self-    Local Administering Agency and
                                                                                                                            certifies to zero income.     Landlord may require
                                                                                                                                                          applicant/household to sign
                                                                                                                                                          verification release of information
                                                                                                                                                          forms for state, local, and federal
                                                                                                                                                          benefits programs.

                                                                                                                                                         Local Administering Agency and
                                                                                                                                                          Landlords may require the
                                                                                                                                                          household to reverify zero
                                                                                                                                                          income status.




b
 NOTE: If the original document is witnessed but is a document that should not be copied, Local Administering Agencies and Landlords should record the type of document, any
control or serial numbers, and the issuer. Local Administering Agencies and Landlords should also initial and date this notation in the file.
c
  NOTE: For all oral verification, file documentation must include facts, time and date of contact, and name and title of third party.


Rental Housing Support Program
Acceptable Forms of Verification
April 2008                                                                                                 12-12

				
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