Answer:
From the HMDA Getting it Right:
Occupancy. For a onetofourfamily dwelling, indicate whether the property to which the loan or application relates will be the borrower’s principal dwelling. For multifamily dwellings (housing five or more families), and for any dwellings located in MSAs where you do not have home or branch offices or located outside MSAs, you may either enter the code for “not applicable” or the code for the actual occupancy status.
First published on BankersOnline.com 11/18/2002
print
share