We have a loan for the refinance of an assisted living facility. This facility houses 6 individuals for long term care. This is the individuals primary residence. They rent the rooms, and share common living space,kitchen and bathroom. What would you consider the property type to be for this dwelling?

1-4 family.

For this scenario, what occupancy code?

1. Nonowner occupied - assuming the borrower doesn't also occupy the property?

Second scenario:

1. Borrower is LLC that owns/operates the adult family home. Would this make the loan be coded as owner occupied?

So would love some help with how others code these for owner occupancy. I need help with deciding if the borrower runs the business of operating the adult family home, then in the commercial real estate world I'd call that "owner occupied" CRE. But not so sure on this for HMDA?

You need to look at the owner of the property and determine if they live there. A business can't live in a property, so if a business owns the property, it would be non owner occupied.

That's a nice simple answer... thank you!

The assisted living facilities we have are owned by a businesses and they all have more than 4 units. I report them as mutifamily and not owner occupied.