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How long are area exception payment standards in effect? What happens to the exception payment standards when new FMRs are issued?

April 26, 2017area exception fmrs happens issued payment Standards

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How long are area exception payment standards in effect? What happens to the exception payment standards when new FMRs are issued?

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HUD’s Answer: An area exception payment standard remains in effect until it is exceeded by the basic range for setting payment standards – 110 percent of the current FMR. At that point, the exception payment standard is no longer needed.