Compliance File Audit Reviews
Tenant File Review Services for Affordable Multifamily Housing Programs
Low Income Housing Tax Credit, HOME, RD, HUD and Fair Housing Compliance can be challenging to maintain and failure to ensure that compliance is met can entail real risk to an organization. Regulations and guidance are always evolving which requires special care to stay up to date on the most current requirements and methods of verification. E&A offers an advantageous and timely file review service to assist owners, syndicators, HFA’s and management agents in mitigating risk by reviewing files at different stages of a project’s life cycle.
- With scarcity of funds in programs, multiple programs are now leveraged together or layered to secure the necessary funding to finance a project.
- All these programs have their own compliance requirements.
- Sometimes those requirements don’t mesh well together.
- This often creates duplicate work in maintaining compliance as they have different methods for calculating income or assets or determining student eligibility among others.
- Staffing with the experience and knowledge is often difficult to locate and then retain.
- Compliance requires significant expense to manage and can create burdens on already strapped property budgets.
- Confidence in the compliance status of your portfolio.
- Opportunities to identify potential process improvements and areas of risk.
- Provides support for staff so they know someone is working with them to make sure nothing is missed.
- Allows for the continuing education of staff using real world files to provide feedback and educational opportunities.
THE PROCESS
E&A Team begins the process with each client by executing an initial discovery period where we establish a portfolio compliance profile for each property in the portfolio that is to be monitored. We identify, collect, and maintain these documents in our database that ensures we know what obligations apply to each property.
Review of files includes verification that the documentation collected by the site managers meets the necessary requirements for content and timeliness. E&A staff also verify that the calculations to determine eligibility for income are correct and that other compliance issues such as student eligibility, handling of trusts and other unique situations have been properly addressed.
After the completion of the file reviews, E&A delivers a report outlining any issues that were identified during the review for a particular property. E&A works alongside the client's designated staff to correct issues to ensure the file meets the compliance requirements. E&A can also provide periodic reporting on the overall status of the portfolio by aggregating the data obtained through the reviews and giving clients visual representations of their portfolio's performance and status.
The service is customizable based on each client’s unique needs. Some examples of how this service can be applied include, but are not limited to:
•A one-time 100% file audit for a property or whole portfolio.
•A one-time sample audit.
•Routine, recurring monitoring.
•Initial certification reviews.
•Pre-certification review for new acquisitions.
•And more!
Meet The Team
Josh Brown has experience with a wide range of professional skills, including file reviews, plan reviews, and training, and previously served as the Senior Manager of Asset Management for his former employer. Mr. Brown's experience includes the development and implementation of compliance monitoring policies and procedures to ensure that programmatic requirements are met and maintained. In the past, Mr. Brown has been responsible for overseeing the compliance monitoring for LIHTC, HUD, HOME, USDA, and various other federal and state-sponsored affordable housing programs that required review of multiple criteria for determining tenant or applicant eligibility. In his role as E&A’s Director of Strategic Initiatives, Mr. Brown coordinates some of E&A’s largest client contracts while also strategizing new ideas and investigating potential areas of expansion.
Josh Brown
Director of Strategic Initiatives
Matt Cameron
Lesley DeVaughn
Emily English
E&A offers a team of highly-trained examiners that are committed to providing advantageous and timely file review services to owners, syndicators, HFAs, and management agents in an effort to mitigate risk by reviewing files at different stages of a project’s life cycle. E&A understands the complexity of compliance that comes from layering multiple limited sources of funds to finance projects and is well-equipped to help ensure that compliance is maintained across all programs.
LET'S
WORK
TOGETHER.
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Email Address
Josh@EandATeam.com
Phone Number
888-504-7483 ext. 6020
info@eandateam.com
888-504-7483
E&A Team has been trusted for more than 30 years to provide the highest quality compliance solutions and training for the multifamily housing industry.