In regards to how to report a loan with multiple properties taken as collateral, we want to make sure we are interpreting it correctly. Our situation:
A customer is using multiple investment properties as collateral to purchase a new home. We are NOT taking the new home as collateral in any way.
Therefore, we have the option to report either one of the investment properties being used as collateral, and we do NOT report the property being purchased, correct? Also, we would then report the occupancy based on the property being reported (in this case non-owner occupied) and not the occupancy of the property being purchased, correct?