Exhibit 99.3
Exception Grades | ||||
Run Date - 1/26/2023 4:06:30 PM |
SitusAMC Loan ID | Customer Loan ID | Seller Loan ID | Investor Loan Number | Loan Exception ID | Exception ID | Exception Date | Exception Type | Exception Category | Exception Subcategory | 15E Category |
219416321 | [redacted] | 27665684 | Credit | Missing Document | General | Missing Document | ||||
219416321 | [redacted] | 27665690 | Credit | Credit | Credit Documentation | Missing Document | ||||
219416321 | [redacted] | 27665697 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation | ||||
219416321 | [redacted] | 27665721 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation | ||||
219416321 | [redacted] | 27665776 | Credit | Credit | Credit Calculation / Analysis | Credit | ||||
219416321 | [redacted] | 27665875 | Credit | Income / Employment | Income Documentation | Income / Employment | ||||
219416321 | [redacted] | 27665885 | Credit | Income / Employment | Income Documentation | Missing Document | ||||
219416321 | [redacted] | 27666060 | Credit | Credit | Miscellaneous | Guideline | ||||
219416321 | [redacted] | 27671828 | Credit | HECM | General | HECM | ||||
219416323 | [redacted] | 27657625 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation | ||||
219416324 | [redacted] | 27658675 | Credit | Credit | Miscellaneous | Guideline | ||||
219416669 | [redacted] | 27668301 | Credit | Borrower and Mortgage Eligibility | Mortgage / Program Eligibility | Borrower and Mortgage Eligibility | ||||
219416669 | [redacted] | 27668330 | Credit | Income / Employment | Income Documentation | Income / Employment | ||||
219416669 | [redacted] | 27668363 | Credit | Income / Employment | Income Documentation | Missing Document | ||||
219444657 | [redacted] | 27668678 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation | ||||
219444697 | [redacted] | 27671987 | Credit | Legal / Regulatory / Compliance | Title / Lien Defect | Title | ||||
219444697 | [redacted] | 27672138 | Credit | Insurance | Insurance Analysis | Insurance | ||||
219444697 | [redacted] | 27672240 | Credit | Property - Appraisal | Appraisal Documentation | Property - Appraisal | ||||
219444697 | [redacted] | 27672322 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation | ||||
219444697 | [redacted] | 27689203 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |
SitusAMC Loan ID | Exception | Exception Detail | Exception Information | Compensating Factors | Compensating Factor Information | Applying Party |
219416321 | Missing Document: Flood Certificate - Life of Loan not provided | |||||
219416321 | Missing Document: Credit Report not provided | |||||
219416321 | Missing Document: Photo ID not provided | |||||
219416321 | FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date. | Disaster Name: ___ Disaster Declaration Date: ___ |
Property inspected post disaster but pre-FEMA declaration of disaster end date. | Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [redacted] | SitusAMC | |
219416321 | Missing Document: Alternative Credit Documentation not provided | Missing Verification of Mortgage or Bank Statements to verify Payment History. | ||||
219416321 | Income Docs Missing: | - ___ | ||||
219416321 | REO Documents are missing. | - ___ | Missing Statement, Insurance and Tax Verification and Schedule E for REO property. | |||
219416321 | Credit Exception: | Residual Income is not met. Once all documentation is provided then the Residual Income can be recalculated. D0194 states several rental properties borrower owns but none ore listed on FA worksheet or final 1009 application addendum. Provided all income documents used to qualify for this loan along with lender income calculation worksheets. | ||||
219416321 | Missing/Incomplete Condo HOA History | Appraisal states $[redacted]/month HOA fee but not stated on FA worksheet or 24 months verification of HOA payment history. | ||||
219416323 | FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster. | |||||
219416324 | Credit Exception: | Please supply correct Reverse Mortgage Comparison document in file dated the same day as the Note. Reverse mortgage comparison document in file states loan is a fixed rate and not a ARM. | ||||
219416669 | Fully Funded Life Expectancy Set-aside is required for borrowers where the Residual income requirement was not met. | The required residual income for a household of [redacted] in the [redacted] is $[redacted]. The residual income at audit for subject loan is $[redacted]. The loan file does not contain income documentation for the Borrower's partnership income and is missing REO documentation for one of the listed REOs. | ||||
219416669 | Income Docs Missing: | - | The loan file is missing two years: 1040s, partnership business returns (1065s), K-1s, balance sheet and a YTD P&L for the Borrower's partnership that income is being used to qualify. | |||
219416669 | REO Documents are missing. | - ___ | The loan file is missing evidence of insurance, property tax, HOA dues and a mortgage statement for the REO [redacted] that is listed on the Borrower's schedule E of the personal tax return. This property has mortgage interest being written off but no mortgage statement provided in file. | |||
219444657 | FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster. | Appraisal completed prior to disaster declaration. Will need a post disaster property inspection showing no damage to the subject property. | ||||
219444697 | Title Policy is Preliminary or Commitment, and not a Final Title Policy. | Title Evidence: ___ | ||||
219444697 | Insufficient Coverage: Hazard insurance coverage amount is insufficient. | Exception fired due missing appraisals and unable to verify total estimated cost new value. | ||||
219444697 | Missing Document: Appraisal not provided | |||||
219444697 | FEMA Disaster Issue: Property is located in a FEMA Disaster area and has not been inspected. | Appraisal completed prior to disaster declaration. Will need post disaster property inspection showing no damage to the subject property. | ||||
219444697 | FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster. | PDI report still required as hurricane [redacted] date is [redacted] and appraisal effective date is [redacted]. |
SitusAMC Loan ID | Follow-up Comments | Cleared Date | Cured Date | Waived Date | Exception Level Grade | DBRS Initial Exception Rating | DBRS Final Exception Rating | Fitch Initial Exception Rating | Fitch Final Exception Rating | Kroll Initial Exception Rating | Kroll Final Exception Rating | Moody's Initial Exception Rating |
219416321 | Reviewer Comment (2023-01-24): Flood certificate provided Buyer Comment (2023-01-23): Flood Cert |
01/24/2023 | 1 | C | A | C | A | C | A | C | ||
219416321 | Reviewer Comment (2023-01-24): Credit report provided Buyer Comment (2023-01-23): Credit Report |
01/24/2023 | 1 | D | A | D | A | D | A | D | ||
219416321 | Reviewer Comment (2023-01-24): Driver license provided Buyer Comment (2023-01-24): ID Reviewer Comment (2023-01-24): Still missing photo ID for [redacted]. Only driver license provided was for [redacted]. Buyer Comment (2023-01-23): IDs |
01/24/2023 | 1 | C | A | C | A | C | A | C | ||
219416321 | Reviewer Comment (2023-01-26): Post disaster inspection report, shows no damage, dated [redacted], but the disaster does not have an end date yet. Buyer Comment (2023-01-26): CDAIR |
01/26/2023 | 2 | C | B | C | B | C | B | C | ||
219416321 | Reviewer Comment (2023-01-26): FAR unable to clear prior to securitization filing date. Reviewer Comment (2023-01-24): Borrower have lived in subject property for one year and mortgage statement provided only verifies 4 months mortgage payment history for subject property. Buyer Comment (2023-01-23): Income/Statements |
3 | C | C | C | C | C | C | C | |||
219416321 | Reviewer Comment (2023-01-26): FAR unable to clear prior to securitization filing date. Reviewer Comment (2023-01-24): Still missing last two years complete 1040 tax returns. Award letter and 1099-SSA was provided. Buyer Comment (2023-01-23): Income |
3 | C | C | C | C | C | C | C | |||
219416321 | Reviewer Comment (2023-01-24): Mortgage statement, taxes and insurance provided Buyer Comment (2023-01-23): REO docs |
01/24/2023 | 1 | C | A | C | A | C | A | C | ||
219416321 | Reviewer Comment (2023-01-26): FAR unable to clear prior to securitization filing date. Reviewer Comment (2023-01-24): Still missing last two years 1040 tax returns all schedules along with lender rental income worksheets to determine rental income. FA worksheet states other housing payment of $[redacted] which is the $[redacted] and $[redacted] mortgage payment listed on credit report. The $[redacted] payment belong to property located at [redacted] but the $[redacted] payment belongs to property located at [redacted] which is an address list on LOX (D0457 Real Estate Owned Schedule) of addresses that should not be included in FA worksheet as they are owned under business name. As of right now the residual income is -$[redacted] and well short of required $[redacted] Rental income still not verified and what other housing debt needs to be clarified but all other income and debts have been entered correctly. Buyer Comment (2023-01-23): Income |
3 | C | C | C | C | C | C | C | |||
219416321 | Reviewer Comment (2023-01-26): FAR unable to clear prior to securitization filing date. |
3 | C | C | C | C | C | C | C | |||
219416323 | Reviewer Comment (2023-01-26): PDI, dated [redact[redacted] shows no damage from FEMA disaster declaration. Buyer Comment (2023-01-26): CDAIR |
01/26/2023 | 1 | C | A | C | A | C | A | C | ||
219416324 | Reviewer Comment (2023-01-20): Page two of disclosure has correct program used to qualify. Buyer Comment (2023-01-20): See attached Comparison, the product selected is on page 2 (font is bold on product selected) |
01/20/2023 | 1 | C | A | C | A | C | A | C | ||
219416669 | Reviewer Comment (2023-01-22): All income documents provided that were used to determine income to qualify and residual income meets requirements. Buyer Comment (2023-01-20): Income WS |
01/22/2023 | 1 | C | A | C | A | C | A | C | ||
219416669 | Reviewer Comment (2023-01-22): Personal tax returns, Partnership tax returns, transcripts, K-1, P&L and balance sheet provided. Buyer Comment (2023-01-20): K-1 Buyer Comment (2023-01-20): tax transcripts Buyer Comment (2023-01-20): business tax return Buyer Comment (2023-01-20): personal tax return |
01/22/2023 | 1 | C | A | C | A | C | A | C | ||
219416669 | Reviewer Comment (2023-01-26): FAR unable to clear prior to securitization filing date. Reviewer Comment (2023-01-22): Still missing the mortgage statement for other REO [redacted]. Mortgage interest stated on Sch E and no mortgage payment used in rental income calculation for this property. We will determine if loan meets residual income requirements once additional documents are received and reviewed. Buyer Comment (2023-01-20): Rental Income |
3 | C | C | C | C | C | C | C | |||
219444657 | Reviewer Comment (2023-01-26): PDI showing no damage, dated [redacted], has been received Buyer Comment (2023-01-26): CDAIR |
01/26/2023 | 1 | C | A | C | A | C | A | C | ||
219444697 | Reviewer Comment (2023-01-23): Appraisal provided and exception is being deleted and a new exception is being open requiring a PDI report |
01/23/2023 | 1 | A | A | A | A | A | A | A | ||
219444697 | Reviewer Comment (2023-01-23): Verified dwelling coverage plus extended replacement coverage is greater than appraised value minus site value per appraisal. Buyer Comment (2023-01-23): Missing appraisal uploaded |
01/23/2023 | 1 | C | A | C | A | C | A | C | ||
219444697 | Reviewer Comment (2023-01-26): second appraisal has been provided Buyer Comment (2023-01-26): Appraisal Reviewer Comment (2023-01-23): Only one of the two required updated appraisals provided. Please provide second appraisal that is not expired. Buyer Comment (2023-01-23): 3rd appraisal dated [redacted] Reviewer Comment (2023-01-22): Two appraisals required since value is greater than $[redacted]. The two appraisals provided are both expired. Please provide the two appraisals used to qualify for this loan. |
01/26/2023 | 1 | D | A | D | A | D | A | D | ||
219444697 | Reviewer Comment (2023-01-23): Exception deleted and a new one set for PDI report since appraisal effective date is prior to disaster date. Buyer Comment (2023-01-23): Missing appraisal uploaded |
01/23/2023 | 1 | C | A | C | A | C | A | C | ||
219444697 | Reviewer Comment (2023-01-26): PDI, dated [redacted], shows no damage to the subject property Buyer Comment (2023-01-26): Disaster Inspection |
01/26/2023 | 1 | A | A | A |
SitusAMC Loan ID | Moody's Final Exception Rating | S&P Initial Exception Rating | S&P Final Exception Rating | Note Date | Property State | Occupancy | Purpose | Exception Remediation | Overall Initial Loan Grade |
Overall Final Loan Grade |
219416321 | A | C | A | CA | Primary | Refinance | D | C | ||
219416321 | A | D | A | CA | Primary | Refinance | D | C | ||
219416321 | A | C | A | CA | Primary | Refinance | D | C | ||
219416321 | B | C | B | CA | Primary | Refinance | D | C | ||
219416321 | C | C | C | CA | Primary | Refinance | D | C | ||
219416321 | C | C | C | CA | Primary | Refinance | D | C | ||
219416321 | A | C | A | CA | Primary | Refinance | D | C | ||
219416321 | C | C | C | CA | Primary | Refinance | D | C | ||
219416321 | C | C | C | CA | Primary | Refinance | D | C | ||
219416323 | A | C | A | CA | Primary | Refinance | C | A | ||
219416324 | A | C | A | CA | Primary | Refinance | C | A | ||
219416669 | A | C | A | CA | Primary | Refinance | C | C | ||
219416669 | A | C | A | CA | Primary | Refinance | C | C | ||
219416669 | C | C | C | CA | Primary | Refinance | C | C | ||
219444657 | A | C | A | FL | Primary | Refinance | C | A | ||
219444697 | A | A | A | FL | Primary | Refinance | D | A | ||
219444697 | A | C | A | FL | Primary | Refinance | D | A | ||
219444697 | A | D | A | FL | Primary | Refinance | D | A | ||
219444697 | A | C | A | FL | Primary | Refinance | D | A | ||
219444697 | A | A | FL | Primary | Refinance | D | A |
SitusAMC Loan ID | Credit Initial Loan Grade |
Credit Final Loan Grade |
Compliance Initial Loan Grade |
Compliance Final Loan Grade |
Property Initial Loan Grade |
Property Final Loan Grade |
Originator QM ATR Status | TPR QM ATR Status | Is Curable |
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416321 | D | C | A | A | No | ||||
219416323 | C | A | A | A | No | ||||
219416324 | C | A | A | A | No | ||||
219416669 | C | C | A | A | No | ||||
219416669 | C | C | A | A | No | ||||
219416669 | C | C | A | A | No | ||||
219444657 | C | A | A | A | No | ||||
219444697 | D | A | A | A | No | ||||
219444697 | D | A | A | A | No | ||||
219444697 | D | A | A | A | No | ||||
219444697 | D | A | A | A | No | ||||
219444697 | D | A | A | A | No |