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#1258969 - 09/30/09 12:19 AM Definition of Owner-Occupied
EmilyAnn Offline
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Joined: Jul 2007
Posts: 273
Does anyone know of a regulatory or otherwise "official" definition of an "owner-occupied" commercial real estate loan?

Thanks!

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#1258972 - 09/30/09 12:26 AM Re: Definition of Owner-Occupied EmilyAnn
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
In what regulatory context?
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#1259181 - 09/30/09 03:18 PM Re: Definition of Owner-Occupied rlcarey
EmilyAnn Offline
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Joined: Jul 2007
Posts: 273
I think I've found it in the December 2006 Interagency CRE Guidance - "loans secured by nonfarm nonresidential properties where the primary source of repayment is the cash flow from the ongoing operations and activities conducted by the party,
or affiliate of the party, who owns the property."

If you know of any other official definition, please let me know.

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#1259379 - 09/30/09 05:49 PM Re: Definition of Owner-Occupied EmilyAnn
Dan Persfull Offline
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Dan Persfull
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Posts: 46,951
Bloomington, IN
As Randy asked, in what regulatory context?

I buy a condo in FL to rent to vacationers but I stay more than 14 days (and they do not have to be consecutive days) in the condo the condo is considered owner-occupied for Reg Z purposes. For a loan subject to HMDA reporting that same condo is reported as non-owner occupied.
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