We have a loan where we refinanced 2 properties in one loan. Here is the hitch: One is commercial and one is residential 1-4 family. How do we report this? The properties are in 2 different counties. We are leaning towards just the residential but if so, how do we separate the amounts? There is no clear division in the file but the HUD may help with the amounts listed there.

Thanks!

When you say commercial I assumed you mean non-residential, therefore that property would not be a consideration for reporting. You report the residential property and you report the full loan amount.

If both properties are residential then you have the option to report both properties with unique identifiers and allocating the loan amount between them, or you can choose to only report one of the properties, and you would report the full loan amount.

Yes, I did mean non-residential. We searched Getting It Right but could not find the answer. Is there a reference to reporting the entire amount?

Thanks You!

From pg A-2 of GIR:

7. Loan Amount. Enter the amount of the loan or application...