Client Name: [REDACTED]
Client Project Name: BRAVO 2025-NQM7
Start - End Dates: 11/14/2024 - 5/22/2025
Deal Loan Count: 349
   
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 3
Credit Terms/Guidelines CRDTER127 Payment shock does not meet guidelines 1
Credit Terms/Guidelines CRDTER3122 Loan documents do not meet guideline requirements 2
Credit Terms/Guidelines CRDTER4631 Loan parameters do not meet guidelines 5
Credit Terms/Guidelines CRDTER4643 Borrower does not meet guideline requirements 3
Credit Credit/Mtg History CRDCRMH104 Credit score below guidelines 2
Credit Credit/Mtg History CRDCRMH124 Collections, Liens, etc. not paid as required by guidelines 1
Credit Credit/Mtg History CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement 5
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 17
Credit DTI CRDDTI187 Debt Ratio > 50% 4
Credit LTV/CLTV CRDLTV3026 LTV Exceeds Guideline Requirement by at least 5%, but less than 10% 13
Credit LTV/CLTV CRDLTV3028 LTV Exceeds Guideline Requirement by 10% or more 5
Credit LTV/CLTV CRDLTV5736 LTV Exceeds Guideline Requirement by less than 5% 4
Credit Income/Employment CRDINC2408 Income verification does not meet guidelines 3
Credit Income/Employment CRDINC2488 Verbal verification of employment missing 1
Credit Insurance CRDINSR3792 Insurance policy missing Rent Loss/Business Interruption coverage 4
Credit Insurance CRDINSR5081 Insurance Policy missing required endorsements 1
Credit Insurance CRDINSR5351 Insurance Effective date is greater than the transaction date 1
Credit Assets CRDAST115 Cash reserves do not meet guidelines 1
Credit Assets CRDAST2354 Asset Verification In File is Incomplete Per Requirements 2
Credit Assets CRDAST2670 Asset documentation is insufficient per guideline requirements 1
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) 2
Property Valuations Property PRVAPROP177 Property Issues Indicated 2
Property Valuations Property PRVAPROP2558 Missing evidence of carbon monoxide detector, as required by CA State law 1
Property Valuations Property PRVAPROP277 Currently Listed for Sale 1
Property Valuations Appraisal PRVAAPPR151 Appraisal dated beyond acceptable date range per guidelines 1
Property Valuations Appraisal PRVAAPPR233 Comps or Adjustments Not Appropriate 1
Property Valuations Appraisal PRVAAPPR237 Appraisal is stale dated without recertification in file 1
Property Valuations Potential Misrepresentation PRVAPMR1807 Potential misrepresentation of property value 1
Compliance Right of Rescission  CMPROR1909 Incorrect ROR Form Used - H8 Form Used in Refinance With Original Creditor 2
Compliance County High Cost CMPCHC5381 XXX High-Cost Loan by exceeding APR threshold 1
Compliance State Consumer Protection CMPSTCP1151 XXX Home Loans -Broker 'Amounts Earned' Disclosure not in file 1
Compliance Documentation CMPDOC2500 Some funds escrowed based on written agreement for completion of improvements to property 1
Compliance Documentation CMPDOC5556 Note P&I doesn't equal Clayton's calculated P&I; payment schedule inaccuracy 1
Total       100

 
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