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#2256960 - 07/20/21 04:40 PM B & B
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,175
Does the Appraisal rule apply to loans secured by a 1st lien on a Bed & Breakfast (4 units)? is it considered residential or commercial property like a hotel/motel?

Thank You

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Interagency (Reg Z) and CFPB Reg B Appraisal Rules
#2256962 - 07/20/21 04:53 PM Re: B & B banker-12
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 76,788
Galveston, TX
Most bed and breakfasts are residential structures - at least the ones I have stayed in.

(2) Dwelling. The term "dwelling" means a residential structure that contains one to four units whether or not that structure is attached to real property. The term includes, but is not limited to, an individual condominium or cooperative unit, and a mobile or other manufactured home.
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#2256963 - 07/20/21 05:01 PM Re: B & B banker-12
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,175
Thank you. This one is a house used as a B & B.

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