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New rules on non-borrower-owned property

Question: 
Will collateral properties owned by a borrower’s relative continue to be reported as owner-occupied under the January 2018 HMDA rules?
Answer: 

HMDA occupancy reporting is changing; a property will be reported as the applicant or borrower’s primary or secondary residence. All other properties will be reported as investment properties, whether or not the property is a rental property.
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Learn more about Kathleen Blanchard’s webinar
HMDA and Dwellings – What’s New for 2018

First published on 07/02/2017

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