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#2266490 - 02/16/22 09:07 PM Proper Coding - Single or Multifamily?
Niesey Offline
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Joined: Jan 2022
Posts: 9
When dealing with townhomes, twinplexes and duplexes what is the proper coding - is it multifamily or single family?

I have a property that is a 56 townhome style units that each have their own individual unit entries.

I am being told that if there are 5 or more townhomes with each unit having is own entrance and there is a common entrance to the building - similar to an apartment building - that the property type would be multifamily, but if each unit has is own entrance and there is not a common entrance to the building, then the property type would be single family.

I'm not familiar with the 'common entrance' distinction and want to make sure that I'm coding it properly.

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#2266494 - 02/16/22 09:33 PM Re: Proper Coding - Single or Multifamily? Niesey
Melissa S Offline
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Melissa S
Joined: Jan 2015
Posts: 322
Maine
I would look to this statement in the regs

Based on Reg C 1003.4(a)(9)-3:
3. Multifamily dwellings. A single multifamily dwelling may have more than one postal address. For example, three apartment buildings, each with a different street address, comprise a single multifamily dwelling that secures a covered loan.

There is also the definition of Dwelling in 1003.2(f)-2
2. Multifamily residential structures and communities. A dwelling also includes a multifamily residential structure or community such as an apartment, condominium, cooperative building or housing complex, or a manufactured home community. A loan related to a manufactured home community is secured by a dwelling for purposes of § 1003.2(f) even if it is not secured by any individual manufactured homes, but only by the land that constitutes the manufactured home community including sites for manufactured homes. However, a loan related to a multifamily residential structure or community that is not a manufactured home community is not secured by a dwelling for purposes of § 1003.2(f) if it is not secured by any individual dwelling units and is, for example, instead secured only by property that only includes common areas, or is secured only by an assignment of rents or dues.

If your townhomes are all part of a housing complex, then together they are a multifamily dwelling.

The BOL thread titled HMDA Multifamily Property or Not, posted 10/19/18 by DixieLee provides some great discussion on this topic,
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#2266495 - 02/16/22 09:40 PM Re: Proper Coding - Single or Multifamily? Niesey
Niesey Offline
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Joined: Jan 2022
Posts: 9
How could I find this thread?

The BOL thread titled HMDA Multifamily Property or Not, posted 10/19/18 by DixieLee provides some great discussion on this topic,

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#2266499 - 02/16/22 09:52 PM Re: Proper Coding - Single or Multifamily? Niesey
rlcarey Offline
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Galveston, TX
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