{"data":{"id":"us/12-cfr-1291.51","jurisdiction":"us","citation":"12 CFR 1291.51","heading":"Monitoring under Homeownership Set-Aside Programs.","body":"(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:\n(1) The AHP subsidy was provided to households meeting all applicable eligibility requirements in § 1291.42(b) and the Bank's Homeownership Set-Aside Program policies; and\n(2) All other applicable eligibility requirements in § 1291.42 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), where the AHP subsidy was used for purchase of the unit, or for purchase of the unit in conjunction with rehabilitation.\n(b) Member certifications; back-up and other documentation. The Bank's written monitoring policies shall include requirements for:\n(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;\n(2) Bank review of back-up documentation regarding household incomes maintained by the member; and\n(3) Maintenance and Bank review of other documentation in the Bank's discretion.\n(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) of this section. The sampling plan and its basis shall be in writing.","path":["Title 12—Banks and Banking","CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY","SUBCHAPTER E—HOUSING GOALS AND MISSION","PART 1291—FEDERAL HOME LOAN BANKS' AFFORDABLE HOUSING PROGRAM","Subpart E—Monitoring"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"a69f767eb4f719949d7906c00f1906244df7ec10980f5dfcdc73d232c458450b","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-1291.50","next":"us/12-cfr-1291.60"},"notice":"GroundRules: Original legal text. Not legal advice."}