---
kind: "section"
citation: "12 C.F.R. § 1291.51"
title: "12"
number: "1291.51"
heading: "Monitoring under Homeownership Set-Aside Programs."
url: "https://uscodex.org/cfr/12/1291.51"
---

# §1291.51. Monitoring under Homeownership Set-Aside Programs.

- (a) **Adoption and implementation.** Pursuant to written policies adopted by a Bank, the Bank shall monitor compliance with the requirements of its Homeownership Set-Aside Programs, including monitoring to determine, at a minimum, whether:
  - (1) The AHP subsidy was provided to households meeting all applicable eligibility requirements in [§ 1291.42(b)](/cfr/12/1291.42.md?p=b) and the Bank's Homeownership Set-Aside Program policies; and
  - (2) All other applicable eligibility requirements in [§ 1291.42](/cfr/12/1291.42.md) and the Bank's Homeownership Set-Aside Program policies are met, including that the AHP-assisted units are subject to retention agreements, as required under [§ 1291.15(a)(7)](/cfr/12/1291.15.md?p=a-7), where the AHP subsidy was used for purchase of the unit, or for purchase of the unit in conjunction with rehabilitation.
- (b) **Member certifications; back-up and other documentation.** The Bank's written monitoring policies shall include requirements for:
  - (1) Bank review of certifications by members to the Bank, prior to disbursement of the AHP subsidy, that the subsidy will be provided in compliance with all applicable eligibility requirements in [§ 1291.42](/cfr/12/1291.42.md);
  - (2) Bank review of back-up documentation regarding household incomes maintained by the member; and
  - (3) **Maintenance and Bank review of other documentation in the Bank's discretion.**
- (c) **Sampling plan.** The Bank may use a reasonable sampling plan to select the households to be monitored, and to review the back-up and any other documentation received by the Bank, but not the member certifications required in [paragraph (b)](#b) of this section. The sampling plan and its basis shall be in writing.

## Notes

### Authority

Authority: 12 U.S.C. 1430(j).

### Source

Source: 83 FR 61231, Nov. 28, 2018, unless otherwise noted.