Bank Owned Owner Occupant Requirement?

[Mike Smith]

I have a question for all the BP experts.

I am fully aware (and abide by) all owner occupant requirements when dealing with any type of government owned/marketed homes (HUD, Homepath, etc).

However - I ran across a new listing today that is simply bank owned (national lender) in which they are forcing a 14-day owner occupant only period.  Again, it is not a government owned/listed property - just a regular ole' bank.  

Is this typical?  Do investors actually adhere to these rules, if paying cash? I spoke with the listing agent today, who confirmed there is nothing placed on the title to prevent the buyer from re-selling the home.  I understand (and agree with) not engaging in mortgage fraud and not fibbing when buying a government owned home...but just a regular ole' bank?  I (myself) have never seen a bank force an owner occupant period.

Disclaimer:  I am not suggesting anyone should ever misrepresent or be deceptive...