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#1545414 - 05/04/11 03:26 PM Multi-family apartment complex
ougirl Offline
Junior Member
ougirl
Joined: Apr 2009
Posts: 49
oklahoma
I have a man and wife that just did a loan to refi an apartment building. When reporting on my LAR I put a property type of 3, purpose 3 (refi) and occupancy 2 (not owner occ). First question.. do I need to chg the occ to a 3 (NA)? I got the govt monitoring info and income amt and it is giving me a validity error saying property type = 3 therefore income must = NA. Do I still need to collect the gmi?

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#1545422 - 05/04/11 03:29 PM Re: Multi-family apartment complex ougirl
RR Becca Offline
Power Poster
RR Becca
Joined: Sep 2004
Posts: 5,245
out of the frying pan...
Originally Posted By: ougirl
do I need to chg the occ to a 3 (NA)?
Yes.

Quote:
I got the govt monitoring info and income amt and it is giving me a validity error saying property type = 3 therefore income must = NA.
That is correct.

Quote:
Do I still need to collect the gmi?
Yes.
_________________________
You call it ADD. I call it multi-tasking.

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#1545446 - 05/04/11 03:41 PM Re: Multi-family apartment complex RR Becca
ougirl Offline
Junior Member
ougirl
Joined: Apr 2009
Posts: 49
oklahoma
Thank you RR

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#1545448 - 05/04/11 03:42 PM Re: Multi-family apartment complex ougirl
RR Becca Offline
Power Poster
RR Becca
Joined: Sep 2004
Posts: 5,245
out of the frying pan...
No problem. smile
_________________________
You call it ADD. I call it multi-tasking.

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