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#312295 - 02/03/05 08:36 PM HMDA Occupancy
Suzie Offline
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Suzie
Joined: Apr 2002
Posts: 662
Far North
Borrower is an LLC and property is SFR. Is Occupancy code a 3 (Not Applicable)?

Help BOL as I can't find this in GIR! Thanks in advance -
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Lending Compliance
#312296 - 02/03/05 09:18 PM Re: HMDA Occupancy
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
Code 2, Not owner-occupied, it's not the LLC's principal dwelling. Code 3 would only be for a multi-family dwelling or dwelling located within a MSA where you don't have a branch office.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#312297 - 02/03/05 10:01 PM Re: HMDA Occupancy
Suzie Offline
Platinum Poster
Suzie
Joined: Apr 2002
Posts: 662
Far North
Sooo glad that I asked. Thanks much Dan.
_________________________
"Whales get harpooned because they surface to spout."

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