HOMES 2025-NQM3 TRUST ABS-15G

 

 

Exhibit 99.4 Schedule 3

 

 

Client Name:      
Client Project Name: HOMES 2025-NQM3    
Start - End Dates: 9/6/2022 - 2/3/2025    
Deal Loan Count: 233    
         
Waived Conditions Summary

 

Review Scope Category Code Description Count
Credit Terms/Guidelines CRDTER110 Loan amount exceeds guideline maximum 1
Credit Terms/Guidelines CRDTER113 Loan amount is below guideline minimum 2
Credit Terms/Guidelines CRDTER127 Payment shock does not meet guidelines 2
Credit Terms/Guidelines CRDTER3256 Seller contributions exceed guideline requirements 1
Credit Terms/Guidelines CRDTER4631 Loan parameters do not meet guidelines 2
Credit Terms/Guidelines CRDTER4643 Borrower does not meet guideline requirements 2
Credit Credit/Mtg History CRDCRMH104 Credit score below guidelines 5
Credit Credit/Mtg History CRDCRMH120 Collections, charge offs, liens, etc. exceed guidelines 1
Credit Credit/Mtg History CRDCRMH124 Collections, Liens, etc. not paid as required by guidelines 1
Credit Credit/Mtg History CRDCRMH148 Credit report stale dated at closing 2
Credit Credit/Mtg History CRDCRMH2662 Number of mortgaged properties exceeds guideline limit 1
Credit Credit/Mtg History CRDCRMH3000 # of Tradelines Does Not Meet Guideline Requirements 16
Credit DTI CRDDTI187 Debt Ratio > 50% 1
Credit LTV/CLTV CRDLTV3026 LTV Exceeds Guideline Requirement by at least 5%, but less than 10% 8
Credit LTV/CLTV CRDLTV3028 LTV Exceeds Guideline Requirement by 10% or more 1
Credit Income/Employment CRDINC150 Income docs do not meet guidelines 1
Credit Income/Employment CRDINC2408 Income verification does not meet guidelines 1
Credit Income/Employment CRDINC2496 Verbal verification of employment completed outside the stated requirements and/or after closing/funding 1
Credit Insurance CRDINSR3792 Insurance policy missing Rent Loss/Business Interruption coverage 2
Credit Assets CRDAST205 Insufficient Funds to Close 1
Credit Assets CRDAST206 Asset Amounts Are Unsupported by Documentation in File 2
Credit Assets CRDAST3078 Insufficient # of months cash reserves for PITI per guideline requirements 3
Property Valuations FEMA PRVAFEMA856 Natural Disaster Area, no subsequent inspection (Public) 1
Property Valuations FEMA PRVAFEMA858 Natural Disaster Area, no subsequent inspection  (Individual & Public) 3
Property Valuations Property PRVAPROP241 Property Type unacceptable under guidelines 1
Property Valuations Appraisal PRVAAPPR169 Appraisal includes one or more issue(s) 1
Compliance TILA/RESPA Integrated Disclosure CMPTRID3492 TRID - Waiver of TRID waiting period in file 2
Compliance Right of Rescission  CMPROR117 ROR - Expiration date on form prior to end of rescission period 1
Compliance Federal Consumer Protection CMPFDCP4569 NMLS License verification found Loan Originator Name does not match ID but can identify that the LO is the same 1
Compliance Repayment Ability CMPSTRA1497 File does not contain a repayment ability worksheet 1
Total       68

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