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#2248640 - 02/03/21 07:32 PM collateral is multifamily 3 buildings 1 doublewide
Melissa S Offline
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Melissa S
Joined: Jan 2015
Posts: 374
Maine
I have a loan that is collateralized by 3 buildings on one lot; total units = 7. Two of the buildings are stick-built, one is a doublewide. Am I correct in assuming that as this qualifies as multi-family, it is not reportable under either the Manufactured Home Secured line item or the Manufactured Home Land Property Interest line item?
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#2248864 - 02/08/21 06:10 PM Re: collateral is multifamily 3 buildings 1 doublewide Melissa S
Compliance NABW Offline
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Joined: Oct 2015
Posts: 1,669
It depends on whether you have a "complex" here or not. How does the doublewide interact with the 3-unit buildings? Do the different buildings and the double wide have completely separate addresses?

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#2248867 - 02/08/21 07:10 PM Re: collateral is multifamily 3 buildings 1 doublewide Compliance NABW
Melissa S Offline
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Melissa S
Joined: Jan 2015
Posts: 374
Maine
as it turned out, when I dove deeper, the double wide DID have a separate address. So i reported the address of the stick built and counted the double wide only in the number of units collateralizing the loan request.

Thank you!
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