Loan to borrower who purchased a home in home state. He lives abroad the majority of his time and this home is basically a landing pad for when he is in the states. For Occupancy I am tipping towards not owner occupied because he truly does not live there. Just wanted to see what the consensus would be out there.

I would agree this is a second home for the borrower which would be reported as non owner occupied.

Just throwing this out there, since principal residence is not defined in HMDA as far as I can tell. Would it not be his principal residence within the States? It is not a second home. Thoughts??

I see what you're getting at Randy, but I wouldn't call this a "principal residence" even though it's the only home they have in the U.S. I think to do so would lead to other arguments.

I too see where you might argue this as a primary dwelling since the residence located outside the U.S. would not be considered a dwelling under HMDA.

But as stated HMDA does not define a primary residence and based on the information provided I would consider the U.S. dwelling to be a secondary residence.

Sounds good to me

That is the rub rlcarey. Its his principal residence in that he has no other residence outside the residence that is provided to him outside the states. But at the same time, to say he occupies it doesn't seem accurate either.

Thanks Dave and Dan, I am definitely tilting towards the secondary residence as well. He simply isn't an occupant.