What is the definition of a 1-4 family owner-occupied residential property?

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What is the definition of a 1-4 family owner-occupied residential property?

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In accordance with the Bank’s definition for collateral purposes, a 1-4 family owner-occupied residential property is a dwelling that is the borrower’s primary residence. Second homes, vacation homes, or other investor-type properties do not qualify under this collateral category. These non-owner occupied 1-4 family residential loans must be individually listed with the FHLB, and are subject to individual review and acceptance.