I have a loan with a condo-association that will be for home-improvement purposes, therefore there is no lien against an actual dwelling. What is the best way to report this as far as property type & occupancy status? I have been thinking it might be like a multi-family loan because there would be more than one condo involved and then a 3 for Occupancy. However, in thinking this through, it looks like it would be a 1-4 family dwelling, because the condos are all individually owned, with an occupancy code of a 2. Does any one have any thoughts or suggestions on this? I have looked through the HMDA Guide and I cannot find any direct mention of this type of loan, only individual condo units. Any help will be greatly appreciated!

Non-dwelling secured HI loans must also be classified as a HI loan to be reportable. If you are classifying it and reporting it as a HI loan then treat it as a non-dwelling secured loan (you would not have a lien on each individual unit).

Property Type = 1 (multiple 1-4 family units are being improved)

Occupancy = 2 (the properties are not occupied as the associations principal residence)

Lien status = 3

Thank you!