Remind me again: in a purchase, property type relates to what the borrower plans on purchasing and not what is being used as collateral, correct?

Example: Customer cashing out on investment property (collateral) to purchase a "mobile home" to place on land they already own.

Property type would be manufactured housing, right?

In this case it would be the collateral property. Hint - it should always be the same property that you're geocoding.

For a purchase you would report the collateral. That includes geocoding, property type, and occupancy.

For Home Improvement you would report the property being improved (thankfully going away under the new rules)