We have made updates to our rental income screen and REO (Real Estate Owned) controls designed to improve efficiency, enhance clarity, and maintain compliance with agency guidelines.
Our first change is the consolidation of qualifying questions across properties. Previously, users were required to answer the same set of questions for each individual property—resulting in repetitive clicks and inefficiencies. With this update, your responses to the qualifying questions will now apply universally across all REO properties for a borrower.
A) Does the borrower have 12+ months of property management experience?
B) Does the borrower own a primary residence?
In our second change, we added a faster way to see our advisory that now clearly identifies when rental income is not being calculated due to missing PITI data. This alert appears prominently on the summary section of each rental property, making it easier to identify the issue and take corrective action without digging through each entry manually.
These updates are fully aligned with Fannie Mae and Freddie Mac’s rental income qualification standards.
These updates are part of our ongoing commitment to making your workflow faster, clearer, and fully compliant with ever-evolving lending guidelines. For a closer look, here is a quick video explaining these updates, and showing you how to use them in the REO screen.