Is there any guidance that defines mixed use property to include any property that has both residential and commercial units? Would that include an apartment building with 5+ units and a convenient store or other retail space?

Thank you!

On the same tract/building, yes.

Thank you!

So a building with 15 units and 3 retail space units will still be classified as mixed use and we would apply either square footage or income to determine whether we would report it for HMDA. Correct?

You can apply any reasonable standard to determine whether it is HMDA reportable. The commentary does offer square footage or income as examples, but it isn't limited to that. You can also use a different standard on a loan by loan basis as applicable for the determination.

Thank you.

Some folks around my office are arguing that a mixed use property should only classified as mixed use if it has less than 5 units and retail space. Properties with 5+ units should always be classified as multi-family even if there is a retail space attached.

Others (like myself) are arguing that multifamily properties with retail space should also be considered mixed use properties if they have a retail space.

Any thoughts?

They are likely confusing themselves over the fact there are entirely different rules for multi-family, mixed-use properties vs just mixed use [not multi-family] properties.