Occupancy Types

Eligible Occupancy Types

Eligible occupancy types are Owner-Occupied, Second Homes and Investment Properties. The feasibility of a Borrower occupying the mortgaged property must be examined when the Borrower indicates the mortgaged property will be their primary residence. The originator must compare the current address reported on the mortgage loan application to the addresses listed on or within borrower provided documents, the credit report, and/or the fraud report. A full explanation and/or supporting documentation (when available) is required to resolve any red flags or inconsistencies noted in the last 12 months.