| Loan Number | Loan ID | Finding # | Last Name | Note Date | Audit Category | Audit Issue | Finding ID | Exception Finding | Remediation Status | Exception Rebuttal | Exception Response | Status Comment | Compensating Factors | Initial Findings Grade | Final Findings Grade | Initial Loan Grade | Final Loan Grade |
| XXXX | 257NQM0773 | 1 of 3 | XXXX | XX/XX/XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | 1 | 1 | 3 | 2 | |||||
| XXXX | 257NQM0773 | 2 of 3 | XXXX | XX/XX/XXXX | Credit | Credit - Other | XXXX | Lender exception (SLV) in file from the correspondent for 2 mortgage lates within the last 12 months on the co-signed second for the subject property. Guidelines state only 1 late is allowed in the last 12 months. (Waived) | Waived | Compensating factors: residual income of $XXXX, low DTI of XXXX%, and XXXX years in same business. | 3 | 2 | 3 | 2 | |||
| XXXX | 257NQM0773 | 3 of 3 | XXXX | XX/XX/XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | 1 | 1 | 3 | 2 | |||||
| XXXX | 257NQM0705 | 1 of 3 | XXXX | XX/XX/XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | 1 | 1 | 2 | 2 | |||||
| XXXX | 257NQM0705 | 2 of 3 | XXXX | XX/XX/XXXX | Credit | Program Parameters - Other | XXXX | The loan file contains a lender exception for payment shock over 350% Guidelines state payment shock must not exceed 350%. (Waived) | Waived | Compensating factors: FICO of XXXX, residual income of $XXXX, and reserves of $XXXX. | 2 | 2 | 2 | 2 | |||
| XXXX | 257NQM0705 | 3 of 3 | XXXX | XX/XX/XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.1. | 1 | 1 | 2 | 2 | |||||
| XXXX | 257NQM0774 | 1 of 3 | XXXX | XX/XX/XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | 1 | 1 | 1 | 1 | |||||
| XXXX | 257NQM0774 | 2 of 3 | XXXX | XX/XX/XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | 1 | 1 | 1 | 1 | |||||
| XXXX | 257NQM0774 | 3 of 3 | XXXX | XX/XX/XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | 1 | 1 | 1 | 1 | |||||
| XXXX | 257NQM0772 | 1 of 4 | XXXX | XX/XX/XXXX | Compliance | TRID - CD - Closing Information/Disbursement Date | XXXX | The CD issued on XX/XX/XXXX does not reflect the correct Disbursement Date when compared to the ALTA Statement. Truth in Lending Act (Regulation Z) 12 CFR 1026.38(a)(3)(iii) | Resolved | Rebuttal 1 (XX/XX/XXXX XXXXAM) Docs uploaded. Rebuttal 2 (XX/XX/XXXX XXXXPM) DOos uploaded. Rebuttal 3 (XX/XX/XXXX XXXXPM) Docs uploaded. |
Response 1 (XX/XX/XXXX XXXXAM) The Loan Fraud Report provided in rebuttal does not address defect. (Upheld) Response 2 (XX/XX/XXXX XXXXPM) The documentation provided is not sufficient to cure the finding. The updated CD provided has the corrected information, however it was issued the same date as the closing date. This creates a new timing issue. Please provide evidence the borrower received this updated CD on the closing date or evidence the CD was issued post-settlement. (Upheld) Response 3 (XX/XX/XXXX XXXXPM) The documentation provided is sufficient to cure the finding. (Resolved) |
2 | 1 | 2 | 1 | ||
| XXXX | 257NQM0772 | 2 of 4 | XXXX | XX/XX/XXXX | Compliance | TRID - CD/Payee Not Listed | XXXX | The loan contains the following fee, Real Estate Closing fee, where 'compensation to' does not reflect a Payee on the revised CD. | Resolved | Rebuttal 1 (XX/XX/XXXX XXXXAM) Docs uploaded. Rebuttal 2 (XX/XX/XXXX XXXXPM) Docs uploaded. Rebuttal 3 (XX/XX/XXXX XXXXPM) Docs uploaded. Rebuttal 4 (XX/XX/XXXX XXXXPM) Docs uploaded. |
Response 1 (XX/XX/XXXX XXXXAM) The Loan Fraud Report provided in rebuttal does not address defect. (Upheld) Response 2 (XX/XX/XXXX XXXXPM) The documentation provided is not sufficient to cure the finding. The updated CD provided has the corrected information, however it was issued the same date as the closing date. This creates a new timing issue. Please provide evidence the borrower received this updated CD on the closing date or evidence the CD was issued post-settlement. (Upheld) Response 3 (XX/XX/XXXX XXXXPM) The documentation provided is sufficient to cure the finding. (Resolved) |
2 | 1 | 2 | 1 | ||
| XXXX | 257NQM0772 | 3 of 4 | XXXX | XX/XX/XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | 1 | 1 | 2 | 1 | |||||
| XXXX | 257NQM0772 | 4 of 4 | XXXX | XX/XX/XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | 1 | 1 | 2 | 1 | |||||