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#2147780 - 09/27/17 03:14 PM How do I report??
Winning Offline
Member
Joined: Sep 2015
Posts: 88
Scenario: purchasing a house at 123 Any Street using collateral at 355 Elm Street. Do I report this as a purchase with the occupancy being owner occupied and the Geocode being the house at 123 Any Street? If not..please tell me what is correct. Thanks!

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#2147782 - 09/27/17 03:23 PM Re: How do I report?? Winning
raitchjay Offline
Power Poster
Joined: Oct 2009
Posts: 9,108
OK
For purchase loans, you report the property taken as security....so you should geocode 355 Elm Street.
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#2147783 - 09/27/17 03:24 PM Re: How do I report?? Winning
raitchjay Offline
Power Poster
Joined: Oct 2009
Posts: 9,108
OK
Oh...and as for occupancy, you report the occupancy of the home you are geocoding....so you'd report the owner occupancy of 355 Elm Street too.
_________________________
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