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#1622001 - 10/31/11 02:01 PM Occupancy/Property Type Question
ComplianceGrl15 Offline
Gold Star
Joined: Apr 2011
Posts: 257
West Virginia
Is this correct......

If you are funding a loan that is made for the purpse of purchase a rental propety but is secured by the borrower's primary residence would you report the Occupancy and Property Type of the primary residence since that is what is securing the loan??

If you are funding a loan that is made for the purpose of improving (home improvement loan) a rental property but is secured by the borrower's primary residence would you report the Occupancy and Property Type of the property that the home improvements are being made to?

Thank you!

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#1622077 - 10/31/11 03:37 PM Re: Occupancy/Property Type Question ComplianceGrl15
Brent B Offline
Member
Joined: Jul 2011
Posts: 60
Champaign, IL
You are correct.

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#1622110 - 10/31/11 04:16 PM Re: Occupancy/Property Type Question Brent B
ComplianceGrl15 Offline
Gold Star
Joined: Apr 2011
Posts: 257
West Virginia
Thank you.

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