Which housing transaction type isn't covered under the NMLS comprehensive definitions?

The classification of housing transaction types under the NMLS definitions primarily focuses on residential transactions, including government-backed loans and VA loans. Residential property loans, which encompass loans for single-family homes, condos, and other forms of housing meant for individual occupancy, are included in these definitions. Government-backed loans, which are loans that the government insures or guarantees, such as FHA loans or VA loans, fall under the NMLS's jurisdiction as they pertain to residential lending.

Commercial property loans, however, differ significantly. They are intended for financing income-producing properties such as office buildings, retail spaces, and other commercial enterprises, not meant for residential occupancy. Because of this distinction, commercial property loans are typically outside the scope of NMLS definitions, which are designed to address residential lending practices and regulations. Understanding this separation is crucial when navigating the various types of mortgage loan transactions regulated under the NMLS framework.