Hud Form 2880 PDF Details

If you're a homeowner, there's a good chance you'll need to fill out Hud Form 2880 at some point. This form is used to request a reduction in your monthly mortgage payment, and it can be helpful if you're struggling to make ends meet. However, the process of filling out Hud Form 2880 can be tricky, so it's important to know what to do. In this article, we'll provide an overview of the form and explain how to complete it. We'll also discuss the eligibility requirements for requesting a payment reduction.

Here are some facts you might want to check out before working with the hud form 2880.

QuestionAnswer
Form NameHud Form 2880
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other names2880 hud form, hud 1 pdf form, hud form 2880 word document fillable form, hud form 2880 pdf

Form Preview Example

Applicant/Recipient Disclosure/Update Report

U.S. Department of Housing

OMB Approval No. 2510-0011 (exp. 11/30/2018)

and Urban Development

 

Instructions. (See Public Reporting Statement and Privacy Act Statement and detailed instructions on page 2.)

Applicant/Recipient Information

Indicate whether this is an Initial Report

or an Update Report

1.

Applicant/Recipient Name, Address, and Phone (include area code):

2.

Social Security Number or

 

 

 

Employer ID Number:

 

 

 

 

3.

HUD Program Name

4.

Amount of HUD Assistance

 

 

 

Requested/Received

 

 

 

 

5.

State the name and location (street address, City and State) of the project or activity:

 

 

Part I Threshold Determinations

1.Are you applying for assistance for a specific project or activity? These terms do not include formula grants, such as public housing operating subsidy or CDBG block grants. (For further information see 24 CFR Sec. 4.3).

Yes

No

2.Have you received or do you expect to receive assistance within the jurisdiction of the Department (HUD) , involving the project or activity in this application, in excess of $200,000 during this fiscal year (Oct. 1 - Sep. 30)? For further information, see 24 CFR Sec. 4.9

Yes

No.

If you answered “No” to either question 1 or 2, Stop! You do not need to complete the remainder of this form. However, you must sign the certification at the end of the report.

Part II Other Government Assistance Provided or Requested / Expected Sources and Use of Funds.

Such assistance includes, but is not limited to, any grant, loan, subsidy, guarantee, insurance, payment, credit, or tax benefit.

Department/State/Local Agency Name and Address

Type of Assistance

Amount

Requested/Provided

Expected Uses of the Funds

(Note: Use Additional pages if necessary.)

Part III Interested Parties. You must disclose:

1.All developers, contractors, or consultants involved in the application for the assistance or in the planning, development, or implementation of the project or activity and

2.any other person who has a financial interest in the project or activity for which the assistance is sought that exceeds $50,000 or 10 percent of the assistance (whichever is lower).

Alphabetical list of all persons with a reportable financial interest in the project or activity (For individuals, give the last name first)

Social Security No. or Employee ID No.

Type of Participation in

Project/Activity

Financial Interest in

Project/Activity ($ and %)

(Note: Use Additional pages if necessary.)

Certification

Warning: If you knowingly make a false statement on this form, you may be subject to civil or criminal penalties under Section 1001 of Title 18 of the United States Code. In addition, any person who knowingly and materially violates any required disclosures of information, including intentional non- disclosure, is subject to civil money penalty not to exceed $10,000 for each violation.

I certify that this information is true and complete.

Signature:

Date: (mm/dd/yyyy)

X

Form HUD-2880 (3/13)

Public reporting burden for this collection of information is estimated to average 2.0 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may not conduct or sponsor, and a person is not required to respond to, a collection information unless that collection displays a valid OMB control number.

Privacy Act Statement. Except for Social Security Numbers (SSNs) and Employer Identification Numbers (EINs), the Department of Housing and Urban Development (HUD) is authorized to collect all the information required by this form under section 102 of the Department of Housing and Urban Development Reform Act of 1989, 42 U.S.C. 3531. Disclosure of SSNs and EINs is voluntary. HUD is authorized to collect this information under the Housing and Community Development Act of 1987 42 U.S.C.3543 (a). The SSN or EIN is used as a unique identifier. The information you provide will enable HUD to carry out its responsibilities under Sections 102(b), (c), and (d) of the Department of Housing and Urban Development Reform Act of 1989, Pub. L. 101-235, approved December 15, 1989. These provisions will help ensure greater accountability and integrity in the provision of certain types of assistance administered by HUD. They will also help ensure that HUD assistance for a specific housing project under Section 102(d) is not more than is necessary to make the project feasible after taking account of other government assistance. HUD will make available to the public all applicant disclosure reports for five years in the case of applications for competitive assistance, and for generally three years in the case of other applications. Update reports will be made available along with the disclosure reports, but in no case for a period generally less than three years. All reports, both initial reports and update reports, will be made available in accordance with the Freedom of Information Act (5 U.S.C. §552) and HUD's implementing regulations at 24 CFR Part 15. HUD will use the information in evaluating individual assistance applications and in performing internal administrative analyses to assist in the management of specific HUD programs. The information will also be used in making the determination under Section 102(d) whether HUD assistance for a specific housing project is more than is necessary to make the project feasible after taking account of other government assistance. You must provide all the required information. Failure to provide any required information may delay the processing of your application, and may result in sanctions and penalties, including

imposition of the administrative and civil money penalties specified under 24 CFR §4.38.

Note: This form only covers assistance made available by the Department. States and units of general local government that carry out responsibilities under Sections 102(b) and (c) of the Reform Act must develop their own procedures for complying with the Act.

Instructions

Overview.

A. Coverage. You must complete this report if:

(1)You are applying for assistance from HUD for a specific project or activity and you have received, or expect to receive, assistance from HUD in excess of $200,000 during the during the fiscal year;

(2)You are updating a prior report as discussed below; or

(3)You are submitting an application for assistance to an entity other

Part I contains information to help the applicant determine whether the remainder of the form must be completed. Recipients filing Update

Reports should not complete this Part.

If the answer to either questions 1 or 2 is No, the applicant need not complete Parts II and III of the report, but must sign the certification at the end of the form.

than HUD, a State or local government if the application is required

Part II. Other Government Assistance and Expected Sources and

by statute or regulation to be submitted to HUD for approval or for

Uses of Funds.

any other purpose.

A. Other Government Assistance. This Part is to be completed by both

B. Update reports (filed by “Recipients” of HUD Assistance):

applicants and recipients for assistance and recipients filing update

General. All recipients of covered assistance must submit update

reports. Applicants and recipients must report any other government

reports to the Department to reflect substantial changes to the initial

assistance involved in the project or activity for which assistance is

applicant disclosure reports.

sought. Applicants and recipients must report any other government

 

Line-by-Line Instructions.

assistance involved in the project or activity. Other government

assistance is defined in note 4 on the last page. For purposes of this

Applicant/Recipient Information.

definition, other government assistance is expected to be made

All applicants for HUD competitive assistance, must complete the

available if, based on an assessment of all the circumstances involved,

information required in blocks 1-5 of form HUD-2880:

there are reasonable grounds to anticipate that the assistance will be

1. Enter the full name, address, city, State, zip code, and telephone

forthcoming.

Both applicant and recipient disclosures must include all other

number (including area code) of the applicant/recipient. Where the

government assistance involved with the HUD assistance, as well as

applicant/recipient is an individual, the last name, first name, and

any other government assistance that was made available before the

middle initial must be entered.

request, but that has continuing vitality at the time of the request.

2. Entry of the applicant/recipient's SSN or EIN, as appropriate, is

Examples of this latter category include tax credits that provide for a

optional.

number of years of tax benefits, and grant assistance that continues to

3. Applicants enter the HUD program name under which the assistance is

benefit the project at the time of the assistance request.

being requested.

 

4. Applicants enter the amount of HUD assistance that is being

The following information must be provided:

requested. Recipients enter the amount of HUD assistance that has

1. Enter the name and address, city, State, and zip code of the

been provided and to which the update report relates. The amounts

government agency making the assistance available.

are those stated in the application or award documentation. NOTE: In

2. State the type of other government assistance (e.g., loan, grant,

the case of assistance that is provided pursuant to contract over a

loan insurance).

period of time (such as project-based assistance under section 8 of the

3. Enter the dollar amount of the other government assistance that is,

United States Housing Act of 1937), the amount of assistance to be

or is expected to be, made available with respect to the project or

reported includes all amounts that are to be provided over the term of

activities for which the HUD assistance is sought (applicants) or

the contract, irrespective of when they are to be received.

has been provided (recipients).

5. Applicants enter the name and full address of the project or activity for

4. Uses of funds. Each reportable use of funds must clearly identify

which the HUD assistance is sought. Recipients enter the name and

the purpose to which they are to be put. Reasonable aggregations

full address of the HUD-assisted project or activity to which the update

may be used, such as "total structure" to include a number of

report relates. The most appropriate government identifying number

structural costs, such as roof, elevators, exterior masonry, etc.

must be used (e.g., RFP No.; IFB No.; grant announcement No.; or

 

contract, grant, or loan No.) Include prefixes.

B. Non-Government Assistance. Note that the applicant and recipient

Part I. Threshold Determinations - Applicants Only

disclosure report must specify all expected sources and uses of funds -

both from HUD and any other source - that have been or are to be,

 

made available for the project or activity. Non-government sources of

 

 

 

Form HUD-2880 (3/13)

funds typically include (but are not limited to) foundations and private contributors.

Part III. Interested Parties.

This Part is to be completed by both applicants and recipients filing update reports. Applicants must provide information on:

1.All developers, contractors, or consultants involved in the application for the assistance or in the planning, development, or implementation of the project or activity and

2.any other person who has a financial interest in the project or activity for which the assistance is sought that exceeds $50,000 or 10 percent of the assistance (whichever is lower).

Note: A financial interest means any financial involvement in the project or activity, including (but not limited to) situations in which an individual or entity has an equity interest in the project or activity, shares in any profit on resale or any distribution of surplus cash or other assets of the project or activity, or receives compensation for any goods or services provided in connection with the project or activity. Residency of an individual in housing for which assistance is being sought is not, by itself, considered a covered financial interest.

The information required below must be provided.

1.Enter the full names and addresses. If the person is an entity, the listing must include the full name and address of the entity as well as the CEO. Please list all names alphabetically.

2.Entry of the Social Security Number (SSN) or Employee Identification Number (EIN), as appropriate, for each person listed is optional.

3.Enter the type of participation in the project or activity for each person listed: i.e., the person's specific role in the project (e.g., contractor, consultant, planner, investor).

4.Enter the financial interest in the project or activity for each person listed. The interest must be expressed both as a dollar amount and as a percentage of the amount of the HUD assistance involved.

Note that if any of the source/use information required by this report has been provided elsewhere in this application package, the applicant need

not repeat the information, but need only refer to the form and location to incorporate it into this report. (It is likely that some of the information required by this report has been provided on SF 424A, and on various budget forms accompanying the application.) If this report requires information beyond that provided elsewhere in the application package, the applicant must include in this report all the additional information required.

Recipients must submit an update report for any change in previously disclosed sources and uses of funds as provided in Section I.D.5., above.

Notes:

1.All citations are to 24 CFR Part 4, which was published in the Federal Register. [April 1, 1996, at 63 Fed. Reg. 14448.]

2.Assistance means any contract, grant, loan, cooperative agreement, or other form of assistance, including the insurance or guarantee of a loan or mortgage, that is provided with respect to a specific project or activity under a program administered by the Department. The term does not include contracts, such as procurements contracts, that are subject to the Fed. Acquisition Regulation (FAR) (48 CFR Chapter 1).

3.See 24 CFR §4.9 for detailed guidance on how the threshold is calculated.

4."Other government assistance" is defined to include any loan, grant, guarantee, insurance, payment, rebate, subsidy, credit, tax benefit, or any other form of direct or indirect assistance from the Federal government (other than that requested from HUD in the application), a State, or a unit of general local government, or any agency or instrumentality thereof, that is, or is expected to be made, available with respect to the project or activities for which the assistance is sought.

5.For the purpose of this form and 24 CFR Part 4, “person” means an individual (including a consultant, lobbyist, or lawyer); corporation; company; association; authority; firm; partnership; society; State, unit of general local government, or other government entity, or agency thereof (including a public housing agency); Indian tribe; and any other organization or group of people.

Form HUD-2880 (3/13)

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