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#1454197 - 10/12/10 05:53 PM Owner Occupancy - Loan to an LLC
yomama Offline
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Joined: Mar 2001
Posts: 25
I have a HMDA reportable refi to an LLC. The LLC is owned by two individuals. The two individuals are not applicants. The loan is secured by the one of the individuals home. What owner occupancy code should we report?

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#1454200 - 10/12/10 05:58 PM Re: Owner Occupancy - Loan to an LLC yomama
hmdagal Offline
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hmdagal
Joined: Dec 2002
Posts: 3,841
If the home is the primary residence of the owner of the home, report it as owner-occupied.

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#1454543 - 10/13/10 03:19 PM Re: Owner Occupancy - Loan to an LLC hmdagal
yomama Offline
Junior Member
Joined: Mar 2001
Posts: 25
So the owner occupancy data has nothing to do with the "applicant"?

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#1454584 - 10/13/10 03:47 PM Re: Owner Occupancy - Loan to an LLC yomama
hmdagal Offline
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hmdagal
Joined: Dec 2002
Posts: 3,841
No, just the owner.

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