Non-Subject Property Rental Income FAQ

Unlike several other competitor systems where the users have multiple places to enter subject rent (in both REO and income sections) causing confusion & inconsistencies, LendingPad streamlines entry of non-subject rental income to one location - REO section.

Simply enter non-subject rental income in Loan Application → REO → “Gross Rental” and “Occupancy Rate” amounts as shown below. “Gross Rental” and “Occupancy Rate” fields will only be available for editing when Disposition is “Rental” and “Subject” flag is set to No.

Loan Application → Borrower → Income section will then auto-populate the net rental data from REO section. This number represents the monthly total net rental amount for all rental & non-subject REO’s.

“Net Rental” number, as shown above, can be positive or negative. If "Net Rental" is positive, it will be added as income in DTI calculation. If "Net Rental" is negative, it will be added as an expense in DTI calculation. For DTI calculation, mouse over " i " info icon next to the "Income and "Expense" lines to see the breakdown as shown below.