(2) Preapproval programs. A request for preapproval for a home purchase loan, other than a home purchase loan that will be an open-end line of credit, a reverse mortgage, or secured by a multifamily dwelling, is an application under this section if the request is reviewed under a program in which the financial institution, after a comprehensive analysis of the creditworthiness of the applicant, issues a written commitment to the applicant valid for a designated period of time to extend a home purchase loan up to a specified amount. The written commitment may not be subject to conditions other than:
I don't see business purpose listed under the "other than" category. If you have a preapproval program for covered transactions in the commercial loan area then you would report accordingly.
The opinions expressed are mine and they are not to be taken as legal advice.