This guide covers data entry for REO Investment Properties.




S = Sold
PS = Pending Sale
R = Retained

Each property on the REO should have a separate bucket in the eFolder.




Primary Residence


Primary Residence
Property Status must be left blank.

Do not lock Net Income/Loss





Second Home


Second Home
Property Status must be left blank.

Do not lock Net Income/Loss

Page 2 of the 1003 under present housing expenses; Input current housing for primary residence. 
Make sure tax/insurance and HOA fees are included there too (if not included in their first mortgage payment).





Investment Property


Investment Property

Property Status -
R (Retained)

If Subject Property
Mark Box if applicable

Page 2 of the 1003 under present housing expenses; Input current housing for primary residence.

Make sure tax/insurance and HOA fees are input separately if not included in their first mortgage payment as evidenced by their mortgage statement. 

Rental Income
The income should be entered on page 1 of the 1003. The income should come from the tax returns on a refinance or if using a lease, 75% of the lease amount.


The ratios are figured from the subject property rent LESS NEW mortgage payment.
On this example - it is taking $1,500 less $3,093.65 (new mortgage payment) = -$1,593.65 in ratios.