COLT SECURITIZATION DEPOSITOR, LLC ABS-15G

Exhibit 99.17

Loan ID

Mapped Id

Deal ID

Customer Loan ID

Seller Loan ID

Note Date

Original Loan Amount

Last Name

Property State

Occupancy

Purpose

Originator QM Status

TPR QM Status

Exception ID

Exception Number

Exception Date

Exception Type

Exception Subcategory

Exception

Exception Remedy

Rebuttal

TPR Response

Compensating Factors

Status Update Date

Finding Status

Initial Exception Grade

Final Exception Grade

Initial Loan Grade

Final Loan Grade

XXXX

4350115640

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115640

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Credit

Credit Documentation - Mortgage History

The loan file did not contain sufficient mortgage payment history. Missing documentation that the borrower, XXXX, paid the following mortgage payment on XXXX: XXXX

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115640

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Subject property Short Term Rental Income does not meet qualification

Short term rental income is not properly documented and/or does not meet guidelines. Short term rentals require DSCR >= 1.25. A formal exception is in the file.

The exception was approved based on housing payment history of 0x30x24, and LTV less than 70%, LTV is 5% less than guideline maximum, monthly reserves are verified and at least 4 months more than guideline minimum.

XXXX

Waived

XXXX

4350115640

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115641

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115641

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115641

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Foreign national cash out allowed by exception only. A formal exception is in the file.

The exception was approved based on all other terms and conditions to be met as submitted, no further exceptions.

XXXX

Waived

XXXX

4350115642

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115642

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115642

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115643

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Third Party Fraud Report not Provided

Missing third party fraud report. Unable to locate the fraud documentation.

Document Uploaded. - XXXX

Third party fraud report is provided - XXXX

XXXX

Resolved

XXXX

4350115643

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115643

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115644

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115644

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115644

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115645

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. The borrower is a foreign national and the loan was approved with a DSCR less than 1. Per guidelines, DSCR less than 1 for foreign nationals are allowed as an exception. The exception is located in the loan file, but the compensating factors are missing. Please provide the updated exception.

Document Uploaded. - XXXX

Compensating factors indicate that reserves are four months above guideline requirements. The required reserves were twelve months, but the file contains fifteen months. - XXXX

LTV less than 70%, and at least 5% less than guidelines max, reserves verified and at least 4 months more than guideline minimum. Required 12 months, XXXX months verified.

XXXX

Waived

XXXX

4350115645

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115645

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115646

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Credit

Borrower 1 3rd Party VOE Prior to Close Missing

Borrower 1 3rd party VOE prior to close missing. File does not contain verification of self employment for 2 years.

Document Uploaded. - XXXX

Received XXXX verbal VOE with CPA verifying business existence. - XXXX
Borrower 1 3rd Party VOE prior to close was provided. - XXXX

XXXX

Resolved

XXXX

4350115646

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115646

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

Missing Other Required mortgage rider

Renewal and Extension Rider noted on Deed of Trust is missing.

Document Uploaded. - XXXX

Renewal and Extension Rider received. - XXXX

XXXX

Resolved

XXXX

4350115647

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 7

XXXX

Compliance

The Initial 1003 is Missing

The Initial 1003 is missing.

Document Uploaded. - XXXX

The Initial 1003 is present. - XXXX

XXXX

Resolved

XXXX

4350115647

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 7

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115647

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 7

XXXX

Compliance

Missing Doc - Homeownership Counseling Disclosure/Missing

Homeownership Counseling Disclosure is missing.

Document Uploaded. - XXXX

Homeownership Counseling Disclosure was provided. - XXXX

XXXX

Resolved

XXXX

4350115647

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

4 of 7

XXXX

Compliance

Missing Service Provider List

The loan file does not contain the Service Provider List.

Document Uploaded. - XXXX

Received Service Provider's list. - XXXX

XXXX

Resolved

XXXX

4350115647

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

5 of 7

XXXX

Compliance

Federal - Finance Charge Disclosure Tolerance (Closed End)

The disclosed finance charge ($XXXX) is ($XXXX) below the actual finance charge($XXXX). The Truth in Lending Act considers the disclosed finance charge inaccurate if it is more than $100 below the actual finance charge. (12 CFR 1026.18(d)(1); OSC 17(c)(2)(ii)-1) Unable to determine fees included in Finance Charge. Provide itemization of fees included.

Document Uploaded. - XXXX

Received initial Disclosures - XXXX
Resolved - XXXX

XXXX

Resolved

XXXX

4350115647

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

6 of 7

XXXX

Compliance

Federal - Loan Estimate Mailed/Delivered Within Three Business Days of Application

The Initial Loan Estimate Disclosure Date (XXXX) is more than 3 business days from the Application Date (XXXX). Three business days from the Application Date is (XXXX). Under Regulation Z, a Loan Estimate must be delivered or placed in the mail not later than the third business day after receiving a consumer's application. (12 CFR 1026.19(e)(1)(iii)) Unable to determine creditor's application date. Provide initial 1003/ actual application date and/or earlier issued LE

Document Uploaded. - XXXX

Received initial LE - XXXX

XXXX

Resolved

XXXX

4350115647

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

7 of 7

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115648

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per guidelines short term rental DSCR calculations are only permissible when the DSCR ratio is greater than or equal to 1.25. A formal exception is located in the loan file for a DSCR of 1.

Payment History exceeds guideline requirements. Reserves exceeds guidelines.

XXXX

Waived

XXXX

4350115648

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115648

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115649

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115649

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 5

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115649

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 5

XXXX

Credit

Audited CLTV Exceeds Guideline CLTV

Audited CLTV exceeds guideline CLTV. Audited LTV of 70% for DSCR loans with DSCR 0.75 ≤ DSCR < 1 , exceeds guideline LTV of 65%.

Document Uploaded. attached - XXXX

An exception was provided for the CLTV greater than 65%. - XXXX

XXXX

Resolved

XXXX

4350115649

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 5

XXXX

Credit

Audited HCLTV Exceeds Guideline HCLTV

Audited HLTV exceeds guideline HCLTV. Audited LTV of 70% for DSCR loans with DSCR 0.75 ≤ DSCR < 1 , exceeds guideline LTV of 65%.

Document Uploaded. - XXXX

An exception was approved for the CLTV greater than 65%. - XXXX

XXXX

Resolved

XXXX

4350115649

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 5

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Audited LTV of 70% for DSCR loans with DSCR 0.75 ≤ DSCR < 1 , exceeds guideline LTV of 65%.

Document Uploaded. - XXXX

An exception was provided due to the guideline LTV> 65%. - XXXX

XXXX

Resolved

XXXX

4350115650

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 2

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115650

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 2

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115651

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per guidelines, DSCR ratio less than 1 is allowed as exception only. A formal exception is located in the loan file.

DSCR> .74- exception approved.

XXXX

Waived

XXXX

4350115651

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115651

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115652

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115652

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115652

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115653

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

1 of 5

XXXX

Compliance

Missing evidence of rate lock

Missing evidence of Rate Lock.

Document Uploaded. attached. - XXXX

Rate Lock Agreement received. - XXXX
Evidence of Rate Lock Provided - XXXX

XXXX

Resolved

XXXX

4350115653

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

2 of 5

XXXX

Credit

Borrower 1 Executed 4506-T Missing

Borrower 1 Executed 4506-T missing from the file. Unable to locate the 4506C in the file.

Lender clarification received, this loan is not a full doc and is a WVOE loan and does not have the 4506C requirement. - XXXX

XXXX

Resolved

XXXX

4350115653

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

3 of 5

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary. Unable to locate the Final 1008 in the file. The 1008 in the file is showing an inaccurate P&I payment of $XXXX. Underwriter did not provide an analysis for the income.

Document Uploaded. Attached approval and income analysis. Our LOS system, XXXX, is only printing on primary and not the subject. - XXXX

documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115653

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

4 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115653

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

5 of 5

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Acknowledge LOE pg XXXX from borrower in regards to rent payment history. Nothing in file meeting guidelines.
§ Housing history evidenced by Twelve-month proof of payment via cancelled checks, bank debits or VOR

Document Uploaded. Attached. - XXXX

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing - XXXX
documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115654

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115654

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115654

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115655

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115655

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

Credit Profile - Mortgage Payment History

A mortgage payment history reflected at least one 30-day late in the last 12 months, which exceeds guidelines. Missing a mortgage statement for loan #XXXX with XXXX.

A mortgage statement for loan XXXX with XXXX Finance not required as per lender the loan has not yet closed with them. - XXXX

XXXX

Resolved

XXXX

4350115655

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115656

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115656

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Credit

DSCR does not meet Guidelines

The subject DSCR does not meet guideline requirements. Per guidelines- Rental income = lower of Lease agreement or market rent survey from appraisal report. Market rent $XXXX, loan approved using actual lease rent $XXXX (lease not in file).

Compensating factors-Actual lease rent is $XXXX which would translate to 0.8x DSCR, XXXX FICO and XXXX years PPP. High FICO over program requires.

XXXX

Waived

XXXX

4350115656

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115656

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Final 1003 has no primary housing. There is a lease with borrower signed as tenant for primary. There is no VOR, 12 mos validation, or letter stating rent free.

Document Uploaded. Attached. - XXXX

documentation meet guideline requirements - XXXX
Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing - XXXX

XXXX

Resolved

XXXX

4350115657

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115657

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115657

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Audited Reserves are less than Guideline Required Reserves (Number of Months)

Audited reserves months are less than the guideline required reserve months. The loan requires 9 months of reserves. An additional $XXXX for reserves must be verified.

Document Uploaded. - XXXX
Document Uploaded. - XXXX

The reserves are short for the 9 months required. A formal exception is in the file to allow XXXX months. - XXXX
The loan closed on XXXX per the Note. The guidelines provided were dated after closing. Please document sufficient reserves as per the guidelines in place as of the date of closing. - XXXX

The exception was approved with XXXX months of reserves.

XXXX

Waived

XXXX

4350115657

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Business Purpose - Loan Guaranty/Missing

The Personal Loan Guaranty is missing. Please provide the executed personal guaranty.

Document Uploaded. - XXXX
Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX
Unable to open the document provided. - XXXX

XXXX

Resolved

XXXX

4350115658

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115658

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115658

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115659

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Letter in file on page XXXX from the borrower stating that he resides in current residence and only signed by borrower. Guidelines stated that the housing history has to be evidenced by 12 month proof of payments via cancelled checks, bank debits or VOR. The letter is not signed by the person or persons that borrower is renting from.

Document Uploaded. attached. - XXXX

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing - XXXX
documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115659

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115659

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115660

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. DSCR is XXXX which is under the 1.25 requirement. A formal exception is located in the loan file.

Reserves exceed guideline minimum.

XXXX

Waived

XXXX

4350115660

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115660

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115660

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Corporation/LLC: Certificate of Good Standing Doc is Missing

The loan file does not contain the Corporation/LLC: Certificate of Good Standing.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115661

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 5

XXXX

Property

Subject property appraisal is not on an as-is basis (Primary Value)

Primary value subject property appraisal is not on an as-is basis. The appraisal is subject to but there is no update to the appraisal in the file.

Document Uploaded. - XXXX

1004D has been provided. - XXXX
Primary Value Subject Property Appraisal is completed on an As-Is Basis or Not Applicable - XXXX

XXXX

Resolved

XXXX

4350115661

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 5

XXXX

Credit

FEMA Declared Disaster Area Post Closing Review

The subject property was located in a FEMA declared disaster area. Post closing property inspection report required. The disaster happened prior to the appraisal completion. Appraiser did not note on the appraisal in regards to the adverse event and certify that there has been no change in the valuation. The appraisal was completed on XXXX and the disaster occurred on XXXX. At the time of closing the appraisal was expired. Please provide the updated appraisal and/or the 1004D.

Document Uploaded. - XXXX

- XXXX

XXXX

Resolved

XXXX

4350115661

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 5

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115661

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 5

XXXX

Property

Appraisal is Expired

Primary value appraisal is expired. The appraisal is dated XXXX and the Note date is XXXX, making the appraisal greater than 120 days old.

Document Uploaded. - XXXX

The 1004D inidcating the value hasn't changed has been provided. - XXXX

XXXX

Resolved

XXXX

4350115661

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 5

XXXX

Credit

Credit Documentation - Letter of Explanation

The loan file did not contain a letter of explanation as required. The letter explaining the purpose of the cash out is missing from the loan file.

Document Uploaded. - XXXX

Cash out letter has been received. - XXXX

XXXX

Resolved

XXXX

4350115662

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115662

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115662

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115663

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. For Short-Term rentals guidelines require a DSCR ratio greater than 1.25 and Purchase transactions only. A formal exception is located in the loan file.

Compensating factors listed as Depth of the prior housing history is XXXX years. and Reserves exceed guideline minimum.

XXXX

Waived

XXXX

4350115663

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115663

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115664

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. A formal exception is located in the loan file for a DSCR ratio less than 1 for a Foreign National Borrower.

Minimum required reserves exceeded. 12 month reserves are required.

XXXX

Waived

XXXX

4350115664

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

Missing Other Required mortgage rider

Missing Assignments of Rents and Leases Rider.

Document Uploaded. - XXXX

The executed assignment of leases and rent rider was provided. - XXXX

XXXX

Resolved

XXXX

4350115664

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115665

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

QM: Safe Harbor APOR (APOR SH)

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115665

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

QM: Safe Harbor APOR (APOR SH)

XXXX

2 of 3

XXXX

Compliance

The Deed of Trust is Incomplete

The Deed of Trust is incomplete. The DOT is missing page XXXX, XXXX, and XXXX.

Document Uploaded. - XXXX

The Deed of Trust is present and complete - XXXX
Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115665

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

QM: Safe Harbor APOR (APOR SH)

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115666

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115666

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115666

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

Assignment of Rents Doc is Missing

The loan file does not contain the Assignment of Rents. The Deed details an Assignments of Rents and Leases Rider attached. However, the loan file is missing the Assignments of Rents and Leases Rider.

Document Uploaded. - XXXX

The missing/ executed Assignment of Lease and Rents rider provided. - XXXX

XXXX

Resolved

XXXX

4350115667

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115667

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115667

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Missing Fraud Product

The LexisNexis in the file is for the business name. The guidelines require the report to be on the guarantor.

Document Uploaded. Please see the attached. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115667

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Document receipt of the 1st months rent and the security deposits as per the lease of $XXXX and $XXXX. Per the guidelines the property is considered unleased if not provided and 90% of the market rent must be used to qualify. This would result in a DSCR below 1.0.

Document Uploaded. Please see the attached from borrower outlining the receipt of XXXX on XXXX. Market rent of $XXXX (lesser of actual and market) used to calculate DSCR. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115668

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

Federal - Right of Rescission (Loan Disbursement Violation) (TILA)

The loan disbursement date (XXXX) is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" (XXXX). Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) FCD discloses disbursement date as XXXX, however docs were not executed until XXXX and not eligible for disbursement until XXXX

Document Uploaded. Hi team,
The actual closing date is XXXX and the disbursement date is XXXX. - XXXX

Received PCCD correcting disbursement date - XXXX
Resolved - XXXX

XXXX

Resolved

XXXX

4350115668

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115668

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115669

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 7

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115669

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 7

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Provide documentation that taxes and insurance on XXXX is $XXXX as listed on URLA REO.

XXXX and XXXX are attached and on the same lot. See attached – XXXX is in front and XXXX attached to back.

Owned by company – XXXX – and tax bill and insurance are in company name for XXXX.
XXXX does not have a separate parcel. Street addresses on XXXX end at XXXX.
- XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115669

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 7

XXXX

Credit

Potential Occupancy/Current Address Issues identified in the file

Provide clarification as the URLA 1003 has the primary current address XXXX, however it is listed as investment in the real estate owned section of the 1003.

Document Uploaded. Updating income to use most recent 12 mos.  XXXX was closed XXXX and XXXX – so UW used XXXX and XXXX to get a full 12 mos. calculation.
We should have excluded those and used the minimal deposits in XXXX and XXXX -  DTI only increases slightly and still works 29% DTI.

XXXX and XXXX are attached and on the same lot.  See attached – XXXX is in front and house attached to back.

Owned by company – XXXX – and tax bill and insurance are in company name for XXXX.
XXXX does not have a separate parcel.  Street addresses on XXXX end at XXXX.

- XXXX

Documentation provided is sufficient.
- XXXX

XXXX

Resolved

XXXX

4350115669

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 7

XXXX

Credit

Income - General

The loan file reflected additional income issues. Provide letter of explanation for low deposits in the month of XXXXXXXX and XXXX (letter in file have date XXXX)

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115669

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

5 of 7

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. The subject is 12 months Bank Statement however the letter in file states the restaurant closed for XXXX months due to restorations and therefore provided an additional XXXX months statement for XXXX for the months business was closed. Per the guidelines business bank statements must be consecutive and from the most recent period. No Exception was provided for use of non-consecutive bank statements.

Income calculation updated to include the XXXX & XXXX statements and exclude XXXX & XXXX. Updated income worksheet, updated XXXX&XXXX provided. DTI under 33% - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115669

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

6 of 7

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115669

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

7 of 7

XXXX

Credit

DTI - Missing Debts/ DTI Exceeds Tolerance

The DTI did not reflect all of the borrower's debts resulting in a DTI that exceeds allowable tolerances. The audit DTI is 25.43% which exceeds tolerance. Audit income excluded a $XXXX deposit as per guidelines being 50% more than monthly income, resulting in qualifying income of $XXXX. It appears the lender's final DTI did not include all debts showing on the credit report, however documentation for exclusion was not provided. Please provide the final income and liabilities to support the DTI used to qualify.

Please provide which liabilities are not included - even after backing out $XXXX deposit - DTI would not exceed 50% - XXXX

Clarification and explanation provided is sufficient for higher DTI than initial 1008 in the file. - XXXX

XXXX

Resolved

XXXX

4350115670

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115670

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115670

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115671

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115671

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115671

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115672

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 7

XXXX

Compliance

Federal - Right of Rescission (Loan Disbursement Violation) (TILA)

The loan disbursement date (XXXX) is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" (XXXX). Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) The loan wasn't signed until XXXX and the Final CD shows a disbursement date of XXXX.

Document Uploaded. - XXXX

Received PCCD - XXXX
Resolved - XXXX

XXXX

Resolved

XXXX

4350115672

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 7

XXXX

Property

Appraisal is Missing

The file is missing the appraisal.

Document Uploaded. - XXXX

Received appraisal report. - XXXX
Appraisal is Present or is Waived - XXXX

XXXX

Resolved

XXXX

4350115672

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 7

XXXX

Property

Missing Doc - 3rd Party Valuation Product/Missing

The loan file did not contain the required 3rd party valuation product.

Document Uploaded. - XXXX

Received Collateral Underwriter report with XXXX score. - XXXX

XXXX

Resolved

XXXX

4350115672

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

4 of 7

XXXX

Credit

Corporate OR Partnership: Names and ownership percentages for Partners & Limited Partners is Incomplete

The documentation in file to verify the corporate or partnership names and ownership percentages for partners and limited partners is incomplete. Provide verification bank statement XXXX is same business listed on XXXX

Document Uploaded. - XXXX

Received email correspondence from CPA who provided CPA letter in file who confirmed that XXXX is one and the same as XXXX. (XXXX) as XXXX is the parent company. - XXXX

XXXX

Resolved

XXXX

4350115672

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

5 of 7

XXXX

Credit

Eligibility - Borrower Identity

The loan file reflected potential identity issues. Borrower driver's licence expired

Document Uploaded. - XXXX

Proof of interim license provided, condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115672

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

6 of 7

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Primary residence mortgage originated XXXX; however, only XXXX months credit history was reported. Please provide a complete 12 months primary housing mortgage history per guideline requirements.

Document Uploaded. - XXXX

Received remaining proof of payments. XXXX demand showed loan was due for XXXX. LTV and DTI are well below program maximum. - XXXX

XXXX

Resolved

XXXX

4350115672

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

7 of 7

XXXX

Credit

FEMA Declared Disaster Area Post Closing Review

The subject property was located in a FEMA declared disaster area. Post closing property inspection report required. Subject property located in XXXX which was impacted by the XXXX XXXX and Straight-line Winds (XXXX) FEMA-declared disaster, with incident period end date of XXXX. Missing appraisal report, so unable to determine if the appraiser commented on the adverse event and if there was any effect on marketability or value per guideline requirements.

Guidelines for disaster areas should be followed for 90 days from the disaster period end date or the date of the event, whichever is later. The end date of XXXX fires is XXXX and the effective date of appraisal report is XXXX, more than 90 days away from the end date of XXXX fires. Please kindly review and waive this purchase condition. - XXXX
Document Uploaded. - XXXX

Guidelines for disaster areas should be followed for XXXX days from the disaster period end date or the date of the event, whichever is later. The end date of XXXX fires is XXXX and the effective date of appraisal report is XXXX, more than XXXX days away from the end date of XXXX fires, condition resolved. - XXXX
Received appraisal report with XXXX. No specific comments or addenda were found that specifically addresses the XXXX fires from XXXX and how the subject structure and immediate area were impacted by the aforementioned disaster, if any. Please provide the requested documentation. - XXXX

XXXX

Resolved

XXXX

4350115673

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115673

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

Closing Detail Statement Indicator is Missing

Closing Detail Statement Indicator is Missing. Per prepayment addendum: If within TWELVE ( 12 ) months from the date the Security Instrument is executed I make a full Prepayment or one or more partial Prepayments, and the total of all such Prepayments in any 12-month period exceeds TWENTY percent 20.000 %) of the original principal amount of the loan, I will pay a Prepayment charge in an amount equal to FIVE AND 000/1000 percent ( 5.000% ) of the amount prepaid. This equates to $XXXX. Review is recommended. The Closing Disclosure states max prepayment $XXXX. Missing the Final Closing Disclosure that shows accurate prepayment max.

Document Uploaded. - XXXX
Document Uploaded. - XXXX

The executed copy of the Final CD with the accurate prepayment penalty max was provided and acceptable. - XXXX
Closing Detail Statement Indicator is not Missing. - XXXX
The Final CD with the accurate prepayment max is not executed. Provide the executed copy. - XXXX

XXXX

Resolved

XXXX

4350115673

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Missing Lease Agreement

DSCR is calculated using lower of lease agreement or rent survey. The lender used stated lower lease amount $XXXX. Missing the subject lease agreement that details rent $XXXX.

Document Uploaded. - XXXX

The explanation of the rent used is acceptable per guidelines. - XXXX

XXXX

Resolved

XXXX

4350115674

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115674

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115674

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Guidelines require a maximum of 1x30 late occurrence total within the previous 12 months for the primary housing and subject property. Missing evidence of the XXXX and XXXX mortgage payments to the primary residence lender, which would be a 2x30 late occurrence worst case and outside guideline requirements.

Document Uploaded. attached. - XXXX

Received primary housing payment history 0x30x12 due for XXXX. - XXXX
Housing history meets guideline requirements. - XXXX

XXXX

Resolved

XXXX

4350115675

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115675

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115675

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115676

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115676

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X. Open compliance condition

XXXX

Cleared

XXXX

4350115676

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Final Settlement Statement Missing.

The final Settlement Statement document is missing. Prepayment discrepancy: Per prepayment addendum, If within TWENTY-FOUR ( 24 ) months from the date the Security Instrument is executed I make a full Prepayment or one or more partial Prepayments, and the total of all such Prepayments in any 12-month period exceeds TWENTY percent 20.000 %) of the original principal amount of the loan, I will pay a Prepayment charge in an amount equal to FIVE AND 000/1000 percent ( 5.000%) of the amount prepaid. This equates to $XXXX. The Closing Disclosure provided states the max prepayment is $XXXX. Review recommended.

Document Uploaded. - XXXX

Settlement statement version does not have this info, condition resolved. - XXXX
The Settlement Statement provided does not detail the prepayment penalty max or that it has been reviewed. - XXXX

XXXX

Resolved

XXXX

4350115677

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115677

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. File does not contain proof of new mortgage with Fundloans #XXXX for property located at XXXX.

Document Uploaded. Copy of Note verifying P&I on XXXX attached along w/HOI and property tax information and corrected 1008 and 1003 showing correct P&I payment. Please clear condition. - XXXX

Received PITI documentation for XXXX property with no debt ratio issue. Also, property profile for XXXX showed property previously owned free & clear. - XXXX

XXXX

Resolved

XXXX

4350115677

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115678

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

Missing HUD-1 Closing Statement

Final HUD-1 Document is Missing. The Settlement Statement is cutoff; therefore, some of the fees/charges are not visible.

Document Uploaded.  - XXXX
The FSS is the Final so if you are comparing it to an estimate and there were changes the Final is the Final.  I'm not following what you need from us?  Please advise. - XXXX
Document Uploaded.  - XXXX

The signed final settlement statement has been received - XXXX
Please provide the signed final refinance statement. - XXXX
Settlement Statement provided does not match the signed Final Settlement Statement provided in loan docs. - XXXX

XXXX

Resolved

XXXX

4350115678

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115678

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. The loan was approved under the 24 month business bank statement program. 2 different business were used in the income calculation, but only 12 months of bank statements for each business have been provided. Please provide the additional 12 months of business bank statements for XXXX and XXXX.

Document Uploaded. Attached is the corrected lock form. This is a 12 mo bk stmt program not 24mos. as reported in error previously. Middle score has also been corrected to XXXX as new credit pulled vs gap report and scores dropped. Please clear conditions. - XXXX

Received the updated lock to show 12 month bank statements were used instead of 24 months. - XXXX

XXXX

Resolved

XXXX

4350115678

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Borrower 1 Gap Credit Report is Missing The borrower was approved with a FICO score of XXXX. Per guidelines, a gap report is required and should be dated within 1 O business days of the Note date. This documentation is missing from the loan file.

Document Uploaded. Original credit report attached. Please clear condition - XXXX
Document Uploaded. Attached is the corrected lock form. This is a 12 mo bk stmt program not 24mos. as reported in error previously. Middle score has also been corrected to XXXX as new credit pulled vs gap report and scores dropped. Please clear conditions. - XXXX

Documentation is sufficient - XXXX
Please provide the XXXX credit report that coincides with the Loan Estimate. - XXXX

XXXX

Resolved

XXXX

4350115679

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115679

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115679

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Missing 12 months housing history for departing residence. Per credit report borrower rented for $XXXX monthly. Guidelines require a 12 month housing history on the primary residence. Housing history does not meet guideline requirements.

Document Uploaded. attached LOE. - XXXX
Document Uploaded. attached loe. - XXXX
Please go off updated guidelines version of XXXX. - XXXX
A 12 month lease agreement was provided. This should satisfy the 12 month requirement. - XXXX

Received explanation regarding housing history for departing residence at XXXX.  - XXXX
Received borrower rent free explanation for previous residence at XXXX. However, no verification of rent or cancelled checks provided for departing residence at XXXX. Per lease agreement in file, borrower began lease XXXX, and subject loan closed XXXX per final Closing Disclosure. Please provide verification of rent or cancelled checks to evidence $XXXX monthly lease payment for XXXX or approved exception addressing the matter (borrower is not a first time home buyer).  - XXXX
Received explanation. Subject loan closed XXXX, and the referenced guideline is well after the loan lock and closing dates. Please provide approved exception to address the matter.  - XXXX
The lease started in XXXX, there is not a full 12 months history provided. The history should be documented with a payment history/VOR. - XXXX

XXXX

Resolved

XXXX

4350115679

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Credit Profile - FTHB with Mortgage History

The declarations section of the loan application reflected first time homebuyer however the credit report in file documented an active mortgage tradeline in the past XXXX years. No evidence in file borrower is not a first time home buyer. Guidelines require an approved exception for first time home buyers which was not found in file.

On fraud report, it shows borrower owning an investment property. Borrower is not a first time home buyer. - XXXX
The borrower is not a first time homebuyer. Which line item specifically on the 1003 that you're seeing that borrower declared as such? - XXXX

Received explanation. Per XXXX, borrower owns property at XXXX, which was acquired XXXX and no evidence that property has transferred ownership since then. This property is not noted as a primary residence on the loan application. - XXXX
Section 5a, A and then the XXXX years of address history all showing renting, does not appear the borrower has a mortgage history. - XXXX

XXXX

Resolved

XXXX

4350115680

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

The Initial 1003 is Missing

The Initial 1003 is missing. Provide signed and dated initial 1003.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX
The Initial 1003 is present. - XXXX

XXXX

Resolved

XXXX

4350115680

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115680

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. The property was owned since XXXX by XXXX parties. The borrower obtained title to the property in XXXX; however the Deed was not recorded until XXXX. The prior loan in the other 2 party's names remains on the property. Documentation in the file shows several 30-day late payments since XXXX. The subject cash out loan is paying off the other party's loan and a water UCC lien, along with cash back. It appears the mortgage on the property, since the borrower has taken title, is not acceptable per guidelines. Please provide documentation or exception to allow.

Document Uploaded. See attached. - XXXX
Document Uploaded. Please see the payment history attached. The previous loan’s due date is the 24th of each month. The mortgage due on XXXX was paid on XXXX, and the mortgage due on XXXX was paid on XXXX. There are no 30-day mortgage lates. - XXXX
Document Uploaded. - XXXX

Explanation including the 5% LTV reduction and no 60 day lates, is acceptable. - XXXX
The reference to "XXXX" is not the XXXX, it's the month of XXXX in the year XXXX, the credit provided shows the borrower as late, the payment history does not meet guidelines and would require an exception. Condition remains. - XXXX
Based on the Customer Account Activity Statement the due dates are on the 1st of the month. The payment due XXXX was not paid until XXXX. The next payment made shows it was paid on XXXX, which would appear to be the XXXX payment due. Going forward each statement reflects at least one past due monthly payment in the Explanation of Amount Due. - XXXX

XXXX

Resolved

XXXX

4350115681

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 6

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115681

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 6

XXXX

Credit

Eligibility - Borrower Identity

The loan file reflected potential identity issues. Co-borrower did not submit a photo ID. Interim driver licenses are not acceptable forms of identification.

Document Uploaded.  - XXXX
Document Uploaded.  - XXXX
Document Uploaded.  - XXXX

Received current identification for B2. - XXXX
Received XXXX Act customer identification verification which documents identification using a non-photo, temporary ID and homeowner insurance, both of which are not valid forms of identification. Please provide the previously-requested documentation. - XXXX
Received explanation with Escrow Officer letter regarding B2 identity verification. XXXX Act Customer Identification Verification document is in file; however, Credible Witness #1 identity expiration shows as XXXX. Need Credit Witness #1 correct identity expiration date on the XXXX Act Customer Identification Verification document. - XXXX

XXXX

Resolved

XXXX

4350115681

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 6

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115681

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 6

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Borrower 1 Gap Credit Report is Missing Guidelines require a gap credit report when the credit report date exceeds 30 days from the Note Date.

Document Uploaded. - XXXX

Received explanation. Re-reviewed guidelines and section 6.4 states the DSCR program does not require a gap credit report. - XXXX

XXXX

Void

XXXX

4350115681

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 6

XXXX

Credit

Borrower 2 Gap Credit Report is Missing

Borrower 2 Gap Credit Report is Missing Guidelines require a gap credit report when the credit report date exceeds 30 days from the Note Date.

Document Uploaded. - XXXX

Received explanation. Re-reviewed guidelines and section 6.4 states the DSCR program does not require a gap credit report. - XXXX

XXXX

Void

XXXX

4350115681

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

6 of 6

XXXX

Credit

Hazard Insurance Coverage Amount is less than Required Coverage Amount

Coverage Amount - Hazard insurance amount is less than required coverage amount. Missing Replacement Cost Estimate ,and insurance coverage including extended replacement cost is insufficient to cover the loan amount.

Document Uploaded. - XXXX

Received Replacement Cost Estimate showing cost to rebuild of $XXXX and supports coverage on evidence of insurance is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115682

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115682

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Credit

Hazard Insurance - Other Insurance Missing

The policy verifying other property insurance is missing from the loan file. The condo insurance is walls- in. However, per guidelines Rent Loss Insurance for the subject property is required and must equal at least 6 month of local average monthly rents or actual loss. Missing rent loss documentation.

Document Uploaded. Please see attached about HO6 insurance, "coverage of D-Loss of use: $XXXX ", which fully meets 6 months rental income. could you please help me clear this condition in your convience? Thank you for your help. - XXXX

HO6 policy provided and details $XXXX loss of use. $XXXX market rent x 6 months required = $XXXX and meets the guideline requirement. - XXXX

XXXX

Resolved

XXXX

4350115682

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115682

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Condo - Documentation

The loan file did not contain required condo documentation (ie. Master HOI, Condo Questionnaire, Condo Budget, Project Review). The loan file did not contain required condo documentation. Missing the Condo Questionnaire.

Document Uploaded. - XXXX

Fannie Mae Condo project approval provided. The approval expiration date XXXX satisfies the condition. - XXXX

XXXX

Resolved

XXXX

4350115683

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115683

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115683

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115684

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115684

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115684

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115685

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115685

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115685

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Approval - Lender Income Calculation Missing

The loan file did not contain the lender income calculation worksheet as required. Per guidelines, the loan file should include income calculation worksheet detailing income calculations. The loan was approved with a DSCR of XXXX. The audited DSCR is XXXX (market rent - $XXXX/ PITIA - XXXX). Please provide the DSCR calculator.

Document Uploaded. - XXXX

1008 with DSCR calculation provided, condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115686

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115686

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115686

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115687

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Excessive Seller Contributions

Seller Contributions XXXX%, per guidelines contribution no greater than 3%

Document Uploaded. Attached exception was provided. - XXXX

Guideline- Max 3% IPC/seller concession and rural property. Loan approved with XXXX% IPC/seller concession. A formal exception is in file. - XXXX

Compensating factors- XXXX months reserves greater than program requirement. High FICO over program requirements. XXXX FICO with XXXX years PPP. XXXX months reserve

XXXX

Waived

XXXX

4350115687

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115687

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115688

XXXX

Second Home

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115688

XXXX

Second Home

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115688

XXXX

Second Home

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115689

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115689

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115689

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115690

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115690

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115690

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115691

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115691

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115691

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115692

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 6

XXXX

Compliance

TRID: Missing Loan Estimate

The Loan Estimate(s) are missing from the documents therefore I was unable to run compliance. Upon receipt additional findings may be present.

Document Uploaded. - XXXX

Received LE - XXXX

XXXX

Resolved

XXXX

4350115692

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 6

XXXX

Compliance

Missing Service Provider List

The loan file does not contain the Service Provider List. The Service Provider List is missing from the loan documents.

Document Uploaded. - XXXX

Received Service Provider's list. - XXXX

XXXX

Resolved

XXXX

4350115692

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 6

XXXX

Compliance

Missing Doc - Homeownership Counseling Disclosure/Missing

Homeownership Counseling Disclosure is missing. The Homeownership Counseling Disclosure is missing from the Loan documents.

Document Uploaded. - XXXX

Received Homeownership Counseling Disclosure. - XXXX

XXXX

Resolved

XXXX

4350115692

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

4 of 6

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115692

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

5 of 6

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115692

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

6 of 6

XXXX

Compliance

Federal - Right of Rescission (Loan Disbursement Violation) (TILA)

The loan disbursement date (XXXX) is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" (XXXX). Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) FCD discloses disbursement date of XXXX, however docs were not executed until XXXX and not eligible for disbursement until XXXX. Provide PCCD correcting dates.

Document Uploaded. - XXXX

Finding resolved - XXXX
Resolved - XXXX

XXXX

Resolved

XXXX

4350115693

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115693

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115693

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Program Parameters - Property Type

The subject loan does not meet program parameters for property type. Assisted living property - A formal exception is in file.

Compensating factors used were Excellent FICO XXXX, Low LTV 28.947%, and Experienced investor.

XXXX

Waived

XXXX

4350115694

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115694

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Property Issue - Ineligible Property

The subject is an ineligible property and not allowed per guidelines. Subject property is a assisted living facility. Per guidelines assisted living properties are ineligible. A formal exception was done to allow.

The exception was approved due to great LTV, borrower has owned property for some time. FICO and DTI in line with guidelines.

XXXX

Waived

XXXX

4350115694

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115695

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115695

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

Corporation/LLC: Certificate of Good Standing Doc is Missing

The loan file does not contain the Corporation/LLC: Certificate of Good Standing. Unable to locate documentation verifying XXXX is in good standing. Please provide evidence of good standing.

Document Uploaded. - XXXX

Received satisfactory documentation - XXXX

XXXX

Resolved

XXXX

4350115695

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115696

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115696

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115696

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115697

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115697

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115697

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115698

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115698

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115698

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115699

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115699

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115699

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. File does not have VOR for primary housing

Document Uploaded. attached exception. - XXXX
Document Uploaded. Attached lease that was provided. Does this not suffice? - XXXX
Please waive condition per XXXX guidelines. - XXXX

Guidelines-Credit/Payment History § 1x30x12 mortgage on the subject property and borrower’s primary residence; Any mortgages reported on the credit report must reflect a 1x30x12 payment history. All other REOs are not required to be disclosed on the 1003. § Forbearance, loan modifications, or deferrals are not considered as a credit event. If these are completed or reinstated ≥ 12 months from the Note date and having a 1x30x12 housing history, no restrictions apply Housing History § No Derogatory Housing Event allowed within one year. § LOE or rent-free letter from property owner is required for FTHB only to verify twelve-month housing history. A formal exception is in file. - XXXX
Lease does not validate 12 mos of rent paid/housing history per the required guidelines listed below. - XXXX
Per guidelines this is required. Please provide reason guideline requirement doesn't apply.
Credit/Payment History
§ 1x30x12 mortgage on the subject property and borrower’s primary residence; Any mortgages reported on the credit report must reflect a 1x30x12 payment history. All other REOs are not required to be disclosed on the 1003.
§ Forbearance, loan modifications, or deferrals are not considered as a credit event. If these are completed or reinstated ≥ 12 months from the Note date and having a 1x30x12 housing history, no restrictions apply
Housing History
§ No Derogatory Housing Event allowed within one year.
§ LOE or rent-free letter from property owner is required for FTHB only to verify twelve-month housing history.
- XXXX

Compensating factors-High FICO over program requires. High DSCR.

XXXX

Waived

XXXX

4350115700

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per guidelines- Maximum LTV per guideline is 65% for Cash out DSCR less than 1. A formal exception is located in the loan file for an LTV of 75%.

Compensating factors-Reserves greater than program requirements. High FICO scores over program requirements.

XXXX

Waived

XXXX

4350115700

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115700

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115701

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115701

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115701

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115702

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115702

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115702

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115703

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115703

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115703

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

Closing Detail Statement Indicator is Missing

Closing Detail Statement Indicator is Missing. The Final CD is missing. Per prepayment addendum, SIXTY ( 60 ) months from the date the Security Instrument is executed I make a full Prepayment or one or more partial Prepayments, and the total of all such Prepayments in any 12-month period exceeds twenty percent (20%) of the original Principal amount of the loan, I will pay a Prepayment charge in an amount equal to FIVE AND 000/1000 percent ( 5.000%) of the amount prepaid. This equates to $XXXX. The Final Closing Disclosure states max prepayment $XXXX. Missing the final CD.

Document Uploaded. - XXXX
Document Uploaded. - XXXX

The executed copy of the Final CD with the accurate prepayment penalty max $XXXX provided. This satisfies the condition.  - XXXX
Closing Detail Statement Indicator is not Missing. - XXXX
Final executed CD provided, condition resolved.  - XXXX
The Final Cosing Disclosure provided is not executed. Please provide the executed copy.  - XXXX

XXXX

Resolved

XXXX

4350115704

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Credit Profile - Other

There are additional observations that could impact the credit decision and/or quality of the loan. The borrower is a First Time Home Buyer (FTHB). Guidelines allow FTHB, but on exception basis only. Please provide a formal exception.

First time home buyer doesn't need any additional compensating factors. It is our own internal exception approval. - XXXX
Document Uploaded. attached exception. - XXXX

The borrower is a First Time Home Buyer (FTHB). Guidelines allow FTHB, but on exception basis only. A formal exception was provided. - XXXX
The compensating factors on the formal exception appear to be inaccurate. The audited reserves for the borrower is XXXX months and the DSCR score is XXXX. Please provide an updated formal exception form with accurate compensating factors. - XXXX
Disregard - condition remains open. - XXXX

Compensating Factors located in the file: 65% LTV, maximum allowed is 70%; XXXX credit score, minimum allowed is 700.

XXXX

Waived

XXXX

4350115704

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115704

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115705

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115705

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115705

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Income - Rental Property

Rental income is not properly documented and/or supported. The borrower's exit property is being converted to an investment property. The loan was approved with a rental loss of -$XXXX. The audited loss is -$XXXX based on rent of $XXXX with a 25% vacancy factor and PITI of $XXXX and HOA dues of $XXXX. This increases the DTI from XXXX to XXXX. Please provide the updated approval.

Document Uploaded. Attached updated approval. - XXXX
Our UW is inquiring where you got these numbers from. - XXXX

Updated approval provided, condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115706

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115706

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115706

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115707

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115707

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115707

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115708

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115708

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115708

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115709

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115709

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115709

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115710

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115710

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115710

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Program Parameters - LTV

The subject loan does not meet program parameters for LTV. The subject LTV does not meet guidelines. Loan was approved as a XXXX% LTV refinance. However, per guidelines, maximum 70% LTV if any subject property unit of a refinance is vacant. Per appraisal report, one of the subject units was vacant. Although a lease is in file, no proof of receipt of rents provided. No approved exception was provided to address this matter.

Document Uploaded. - XXXX

Re-reviewed guidelines. Appraisal report was completed XXXX and lease for unit #XXXX became effective XXXX. Per final Closing Disclosure, the subject loan closed XXXX. Guidelines only require evidence of receipt is required if the actual rents are higher than market rents. In this case, actual rents and market rents are the same. - XXXX

XXXX

Void

XXXX

4350115710

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Title - Ownership Issue

Title documents provided in the loan file reflected potential ownership issues. Vesting on security instrument does not match vesting on the title commitment. A non-borrower is vested on title per the title commitment; however, this individual did not join in the execution of the subject security instrument and no transfer deed was provided to address the matter.

Document Uploaded. Please find the quit claim whereby the party was transferred to the borrower from the other owner. Please accept. thank you. - XXXX

Received executed Quit Claim Deed vesting title in borrower's name. Spouse joined in the execution of the Quit Claim Deed, as well as the Security Instrument. No issues noted. - XXXX

XXXX

Resolved

XXXX

4350115711

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115711

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -XXXX% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115711

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Guidelines require two months proof of receipt of rent in the event the actual rents are being used to derive the DSCR score. However, only one month rent receipt was documented, for the XXXX payment. Per lease agreement, lease began XXXX with first month rent of $XXXX and was not documented. Guidelines cap the use of higher, actual rents at XXXX% of the market rent estimate. If not documented, borrower's credit score of XXXX is insufficient to meet minimum XXXX FICO score for DSCR scores between 0.75 and 1.0. No approved exception was provided to address the matter.

Document Uploaded. Hello, please find the lease agreement. The last page reflects the deposit and first months rent of $XXXX Or $XXXX + $XXXX=$XXXX. It appears to have been remitted prior to the execution of the lease, which can happen. The remitter of XXXX XXXX XXXX XXXX is the same party on the lease. Pay to the order of XXXX XXXX. Same format as the XXXX rent check. Please clear the condition. Thank you.
Please accept. - XXXX

Received proof of first month's rent and security deposit due at lease signing in the total amount of $XXXX. - XXXX

XXXX

Resolved

XXXX

4350115712

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Income was based on comingled personal and business bank statements. Guidelines state if both personal and business accounts present income must be based on only business account deposits. Formal exception was done to allow.

The exception was approved due to credit score XXXX+ points > minimum required - XXXX (GL XXXX); LTV 10% less than max- 65% (GL XXXX); self-employed for XXXX yrs 4XXXX month> 5 years; current primary home ownership XXXX years> 2 years.

XXXX

Waived

XXXX

4350115712

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Property Issue - Neighborhood Location

The subject appraisal verified a neighborhood location not allowed per guidelines. Subject is a rural property. There are no comps within 5 miles of the subject. Formal exception was done to allow.

XXXX

Waived

XXXX

4350115712

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115713

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. The 12 month mortgage history for borrower's primary residence is missing from the file. Please provide a 12 month mortgage history.

Document Uploaded. Please see the certification regarding the primary residence is in the name of other parties'. The borrower has been residing rent free for a couple of years. I have provided an updated 1003 as well. Please clear. Thank you. - XXXX

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing - XXXX
Received satisfactory documentation. - XXXX

XXXX

Resolved

XXXX

4350115713

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115713

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115713

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Hazard insurance dwelling coverage is not sufficient

Unable to locate a Replacement Cost Estimate for the subject property to determine if the coverage is sufficient. Please provide evidence confirming sufficient coverage.

Document Uploaded. - XXXX

Lender provided correspondence indicating they are using the lower cost new estimate of $XXXX to determine sufficient hazard insurance coverage. - XXXX

XXXX

Resolved

XXXX

4350115714

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115714

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115714

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

DSCR does not meet Guidelines

The subject DSCR does not meet guideline requirements. Per review of tax & ins information sheet in file County tax quarterly $XXXX*4/12=$XXXX; city tax quarterly $XXXX*4/12=$XXXX..Total monthly tax $XXXX vs originator/approval $XXXX. Due to the huge discrepancy rent $XXXX/pitias $XXXX=XXXX. This is below 1.00, which per guidelines max LTV 75% for purchase.

Will need to clarify the correct tax amount to be used and/or provide exception for LTV exceeding guidelines.

Document Uploaded. Hello i have confirmed only one set of taxes associated with the property. Please see their email/tax bill sent by them (matches tax bill in file). Please see the certification and there is sufficient rent loss insurance. Please accept. Thank you. - XXXX

documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115714

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Mortgage Insurance - Insufficient

The mortgage insurance certificate in the loan file was not sufficient. Per guidelines 6 mos rent loss insurance required. $XXXX.

With the correct amount of taxes, the piti is $XXXX. $XXXXx 6 months yields $XXXX. On the first page of the hazard insurance policy, the rent loss insurance is $XXXX. This amount is sufficient. Please clear the condition. Thank you. - XXXX
Document Uploaded. Hello i have confirmed only one set of taxes associated with the property. Please see their email/tax bill sent by them (matches tax bill in file). Please see the certification and there is sufficient rent loss insurance. Please accept. Thank you. - XXXX

Per guidelines-Rent Loss Insurance: 6 months rent loss insurance required. This guideline is interpreted per approval/rebuttal based on XXXX's, therefore will clear/resolve finding. Typically this is based on the rents received, but being there isn't a specific on what is used to calculate moving fwd with XXXX's. - XXXX

XXXX

Resolved

XXXX

4350115715

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115715

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115715

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115716

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115716

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115716

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115717

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115717

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115717

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Condo - Master Policy Insufficient

The master hazard insurance policy verified total coverage which was not sufficient to cover total required coverage. Insufficient property coverage for total number of units in project on Master Policy for XXXX. The file has a formal exception.

Loan approved based on credit score XXXX+ points > then the minimum required of 680, LTV/CLTV is 10% or more below the maximum allowed under applicable guidelines 60% (85%), 0x30x48+, residual income is 2x minimum requirement of $XXXX.

XXXX

Waived

XXXX

4350115717

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Income and Employment Do Not Meet Guidelines

Income and employment do not meet guidelines. It appears the borrower had a gap in employment from XXXX - XXXX. Please provide a letter of explanation regarding the borrower's gap in employment.

Document Uploaded. Please find the additional paystub and gap letter. My apologies. thank you. XXXX - XXXX
Document Uploaded. Please find gap letter. Please clear condition. Thank you. - XXXX

Income and Employment Meet Guidelines - XXXX
Received satisfactory documentation. - XXXX
Correspondence indicate the gap in employment letter and an additional paystub was provided, but they were not included with the condition. - XXXX

XXXX

Resolved

XXXX

4350115718

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. A formal exception is located in the loan file to allow Borrower who does not own a primary residence (living rent free with Spouse; mortgage is in Spouse's name) but does own other investment properties. Per guidelines Borrowers are required to own a primary residence when subject is vacant.

Compensating factors listed as Depth of the prior housing history and no derogatory credit history.

XXXX

Waived

XXXX

4350115718

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115718

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115719

XXXX

Second Home

Purchase

QM: Higher Priced APOR (APOR HP)

XXXX

1 of 6

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115719

XXXX

Second Home

Purchase

QM: Higher Priced APOR (APOR HP)

XXXX

2 of 6

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115719

XXXX

Second Home

Purchase

QM: Higher Priced APOR (APOR HP)

XXXX

3 of 6

XXXX

Property

Property Issue - Condo Ineligible

The subject condo project is ineligible. Per guidelines, the minimum square footage of a condotel is XXXX square feet. The subject property is XXXX. A formal exception is located in the loan file.

Credit score is XXXX+ points greater than the minimum required. LTV/CLTV is 10% or more below the maximum allowed under applicable guidelines. DTI of 42% when the guideline requirement is 50%. Reserves XXXX+ months greater than the minimum required. Residual income of $XXXX is greater than the guideline requirement of $2500.

XXXX

Waived

XXXX

4350115719

XXXX

Second Home

Purchase

QM: Higher Priced APOR (APOR HP)

XXXX

4 of 6

XXXX

Credit

Borrower - Residency Alien Documentation

The borrower indicates Resident Alien status, however, the file contains no evidence documenting status as legally. The borrower is a Permanent Resident and has a I-512 that expires XXXX. Guidelines require expiration greater than 3 years. Formal exception done to allow.

XXXX

Waived

XXXX

4350115719

XXXX

Second Home

Purchase

QM: Higher Priced APOR (APOR HP)

XXXX

5 of 6

XXXX

Credit

Condo - Master Policy Insufficient

The master hazard insurance policy verified total coverage which was not sufficient to cover total required coverage. Condo insurance is less that $XXXX for hurricanes and water damage deductible is $XXXX per unit equal to only 21% of policy face value. Formal exception was done to allow.

XXXX

Waived

XXXX

4350115719

XXXX

Second Home

Purchase

QM: Higher Priced APOR (APOR HP)

XXXX

6 of 6

XXXX

Credit

Gift Letter - No Evidence for Transfer of Funds

No evidence of the transfer of gift funds from the donor to the borrower was located in the file. The transfer of gift funds from XXXX to the borrower is missing from the loan file.

Document Uploaded. Please see the certification. There is sufficient documentation in file to confirm transfer of the funds from the donor to the recipient. Please clear. Thank you. - XXXX

Documentation is sufficient - XXXX

XXXX

Resolved

XXXX

4350115720

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 4

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115720

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 4

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per guidelines, unique properties are not allowed. The subject property is considered a unique property in that the appraisal comps are not similar to the subject property. A formal exception is located in the loan file.

The borrower's credit Score is XXXX+ points greater than the minimum required. Residual income is XXXX times the minimum required.

XXXX

Waived

XXXX

4350115720

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 4

XXXX

Credit

Missing VVOE dated within 10 days consummation

The current VOE is dated XXXX and the Note date is XXXX.

Document Uploaded. Please see re-verification showing borrower has remained employed. Thank you! - XXXX

updated verification has been received. - XXXX

XXXX

Resolved

XXXX

4350115720

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

4 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115721

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115721

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115721

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115722

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115722

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 5

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115722

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 5

XXXX

Credit

Corporation/LLC: Certificate of Good Standing Doc is Missing

The loan file does not contain the Corporation/LLC: Certificate of Good Standing. The certificate of good standing for XXXX is missing from the loan file.

Document Uploaded. Please find attached certification indicating the printout from the Secretary of State signifies the company is in good standing. Please accept. thank you. - XXXX

Documentation provided is sufficient - XXXX

XXXX

Resolved

XXXX

4350115722

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 5

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. The fraud report indicates a mortgage with the XXXX, but the payment history is missing, as is other documentation showing that the property was paid in full, from the loan file.

The property report provided shows no open liens. Documentation is sufficient. - XXXX
Document Uploaded. Hello, per Fraudguard the property in question is XXXX. I am uploading an open lien report for the property. There are no open liens noted for this property. There are no mortgages noted on the credit report, either. There is sufficient documentation in file to clear the condition. Please clear. Thank you. - XXXX
Please confirm that the property in question is XXXX. This is the property that has a mortgage with XXXX. Thank you. - XXXX

The property report provided shows no open liens. Documentation is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115722

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 5

XXXX

Credit

Credit Documentation - Letter of Explanation

The loan file did not contain a letter of explanation as required. The letter explaining the reason for the cash out is missing from the loan file.

Document Uploaded. Please find attached the certification indicating that a cash out letter is not required per guidelines. The Business Affidavit and Occupancy is required-I have attached. Please clear the condition. Thank you. - XXXX

documentation provided is sufficient - XXXX

XXXX

Resolved

XXXX

4350115723

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115723

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 5

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115723

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 5

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. The borrower does not own the primary residence when the subject transaction is a purchase of an investment property - A formal exception is in file. However, the following compensating factor was cited but cannot be supported by the documents in file: Mortgage history no late payments for XXXX months on the subject mortgage. The subject transaction is a purchase. Provide a revised Exception Report omitting the aforementioned compensating factor.

Document Uploaded. XXXX disagrees with the finding. The XXXX months of mortgage history is reflected on the credit report and is associated with the primary residence. So the compensating factor is met. An updated exception form is not required. Thank you. - XXXX

Primary residence is not owned on an investment transaction - A formal exception is in file. - XXXX

Compensating factors used were Credit score is over XXXX points more than the minimum required score of 700, Mortgage history XXXX months paid as agreed per credit report, and Loan to Value is 5% or more below the maximum allowed under the applicable guidelines at 65% LTV.

XXXX

Waived

XXXX

4350115723

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 5

XXXX

Credit

Hazard Insurance Policy is Partial

Hazard insurance policy partially provided. The subject transaction is an investment property purchase and the homeowner insurance does not specifically state XXXX months of rental loss coverage is included in the policy. However, the following compensating factor was cited but cannot be supported by the documents in file: Mortgage history no late payments for XXXX months on the subject mortgage. The subject transaction is a purchase. Provide a revised Exception Report omitting the aforementioned compensating factor.

Rental loss insurance coverage not specifically state 6 months of rental loss coverage is included in the policy - A formal exception is in file. - XXXX

XXXX

Waived

XXXX

4350115723

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

5 of 5

XXXX

Credit

Program Parameters - Property Type

The subject loan does not meet program parameters for property type. Per appraisal report, the subject property is identified as "rural". The guidelines state rural properties are ineligible per guidelines, and no approved exception was provided to address the matter.

Document Uploaded. Please find the exception form approving the rural property. Thank you. - XXXX

Rural property ineligible per guidelines - A formal exception is in file. - XXXX

Compensating factors used are XXXX months mortgage history paid as agreed per credit report, Credit Score over XXXX points more than the minimum requirement, LTV/CLTV 5% or more below the maximum allowed under applicable guidelines.

XXXX

Waived

XXXX

4350115724

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

Closing Detail Statement Indicator is Missing

Closing Detail Statement Indicator is Missing. Final Closing Disclosure or Final Alta Settlement Statement.

Document Uploaded. Hello please find the final CD and Final Alta. Thank you. - XXXX

Received final Alta Settlement Statement. - XXXX
Closing Detail Statement Indicator is not Missing. - XXXX

XXXX

Resolved

XXXX

4350115724

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Credit

Credit Profile - Other

There are additional observations that could impact the credit decision and/or quality of the loan. Missing borrower's current identification as of subject loan close date.

Document Uploaded. Please find the XXXX Disclosure. Thank you. - XXXX

Received executed Patriot Act Disclosure reflecting current identification. - XXXX

XXXX

Resolved

XXXX

4350115724

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115724

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Assets - Insufficient Cash to Close or Reserves

Borrower(s) total verified assets are insufficient for cash to close or reserves. $XXXX in total assets was verified, when per final Alta Settlement Statement, the borrower was required to bring in $XXXX to close and $XXXX was required for reserves. As a result, $XXXX minimum assets still need to be verified. Per loan application, the cash value of life insurance was to be used as an asset source; however, documentation was not found in file.

Document Uploaded. Please find the certification regarding heloc funds. I have attached the heloc statement, bank statement where transferred, check for closing. Please accept and clear the condition. Thank you. - XXXX
Document Uploaded. Please see the attached certification. I have provided a breakdown of assets, the remaining reserves noted. There are sufficient reserves for the 3 months required guideline. Please accept. Thank you. - XXXX

Received explanation with documentation to show $XXXX deposited from borrower account to the settlement agent. $XXXXdeposit included in asset count as guidelines do not require large deposits to be sourced and it is clear the $XXXX deposit was part of the $XXXX that was deposited with the settlement agent. - XXXX
Received explanation with documentation. $XXXX of the assets noted in explanation are coming from a HELOC secured on the primary residence. Please provide documentation to show the $XXXX disbursement from the HELOC account transferring to the borrower or wired to the settlement agent. - XXXX

XXXX

Resolved

XXXX

4350115725

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115725

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115725

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Calculated DSCR does not meet the Minimum DSCR allowed

The calculated DSCR is .617 ($XXXX/$XXXX). The minimum DSCR allowed is .750. It appears the lender used a higher rent value from a partial appraisal report, which was not provided in full. Please provide a full copy of the appraisal report and clarify how the lender felt comfortable using the higher rent of $XXXX.

There is no full appraisal report to go with this order.  The first appraiser completed the 1007- using only XXXX% of annual rents- and would not make any changes. This is not accurate for the market and cut annual leases in half.  Therefore, we obtained a separate 1007 to support annual market rents which is the accurate assessment and was used in the DSCR. Please clear.  Rationale has been sufficiently provided.  - XXXX
Document Uploaded.  - XXXX
Please see attached and this is the Underwriter's rationale for using $XXXX/mo: The 1007 that reflected $XXXX/mo used rental comparable which is based on annual leases and cut the annual lease in half and then divided by 12 months.  Since these are annual leases, the thought process to reduce by 50% does not make sense. That and knowledge of the local market in XXXX, support using the $XXXX/mo market rents.  - XXXX
Document Uploaded. Please find the attached updated appraisal reflecting market rent of $XXXX.  It appears that rent comparables reflecting higher rents were provided. Please accept and clear the condition. thank you. - XXXX

Lender confirmed there is no full appraisal report; only a 1007 was completed.  - XXXX
Received lender's rationale regarding the use of the higher rental income of $XXXX, but missing a full copy of the appraisal report completed by XXXX.  - XXXX
Received the same partial appraisal report, which reflects an estimated value of $XXXX. The rental comps on the 1007 completed by XXXX are actually lower than the 1007 completed by the original appraiser, XXXX (Appraised Value of $XXXX). Please provide a complete copy of the appraisal report completed by XXXX and clarify how the lender felt comfortable using the higher rent of $XXXX to qualify.  - XXXX

XXXX

Resolved

XXXX

4350115725

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Escrow Account - Missing

The loan file did not verify an established escrow account for taxes and insurance as required. The final Closing Disclosure reflects the hazard insurance were not impounded. Guidelines require an exception to waive impounds. Please provide an exception waiving the impounds for the hazard insurance.

Sending over the updated guidelines for DSCR Investor Solutions 1 as well.  This program also does not require an escrow waiver.  Thank you.  - XXXX
Please utilize XXXX DSCR Investor Solutions 3 Program guidelines dated XXXX that do not require an exception.  There is no exception form needed in this case.  If the criteria is met, the loan can proceed without an exception forms processed.  Please clear.  Thank you. - XXXX
Document Uploaded. Please find a certification regarding escrow waiver.  The loan meets the criteria for an escrow waiver. Please clear the condition. Thank you.  - XXXX

Received confirmation using DSCR Investor Solutions 1 Program Guidelines rev 133 dated XXXX.
- XXXX
The loan approval and the tape reflect the subject loan was approved under the DSF30 loan program. The guidelines cited in the correspondences are referring to XXXX DSCR Investor Solutions 3 Program (DS3F30) dated XXXX. The DSCR Investor Solutions 1 Program Guidelines (DSF30) dated XXXX require an exception to waive the escrow account. Please provide clarification if the subject loan has been switched to the XXXX DSCR Investor Solutions 3 Program (DS3F30). - XXXX

XXXX

Resolved

XXXX

4350115726

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115726

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115726

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115727

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115727

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115727

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Missing Property Tax Cert

Missing property tax cert. The tax cert supporting monthly taxes of XXXX/month is missing from the loan file.

Document Uploaded. The tax bill provided is lower at $XXXX annually. If you look at the 2nd page, taxes without exemptions are: XXXX $XXXX, XXXX $XXXX, XXXX $XXXX, XXXX $XXXX. Total of $XXXX. $XXXX/12 months is $XXXX monthly. Matches the amount used. Please clear the condition. Thank you. - XXXX
Document Uploaded. The tax bill provided is lower at $XXXX annually. If you look at the 2nd page, taxes without exemptions are: XXXX $XXXX, XXXX $XXXX, XXXX $XXXX, XXXX $XXXX. Total of $XXXX. $XXXX/12 months is $XXXX monthly. Matches the amount used. Please clear. Thank you. - XXXX

Tax bill provided, value used is supported and condition is resolved. - XXXX

XXXX

Resolved

XXXX

4350115728

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115728

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115728

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Per guidelines, A primary residence owned free & clear requires a Property Profile Report or similar documentation to verify no payment. This documentation is missing from the loan file for XXXX.

Document Uploaded. Hello, please find a certification regarding vom for the primary residence. There is a heloc with XXXX that is associated with the primary residence. The history is on the credit report and there is an April statement validating payment as well. Please clear. Thank you. - XXXX

Clarification provided, primary residence has a HELOC associated to it and there is sufficient history on the credit report, condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115729

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115729

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

Delinquent Credit History Does Not Meet Guideline Requirements

Delinquent Credit History does not meet guideline requirements. The mortgage statement and payoff letter reflect a deferred balance of $XXXX. Unable to determine if the deferral meets guidelines. Please provide documentation verifying the deferral meets the 48 months seasoning requirement.

Document Uploaded. This is related to a Covid Forbearance. Please see attached. There is no seasoning issue on this file. All seasoning is met. Please clear condition. Thanks
New note date XXXX = XXXX LOE states
“ Your monthly mortgage payment amount of $XXXX has been placed on a temp forbearance for a period of XXXX month, beginning date XXXX - XXXX

Satisfactory document received - XXXX

XXXX

Resolved

XXXX

4350115729

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

PUD Rider is Missing

PUD Rider is missing.

Document Uploaded. Please find attached Intent to Record for the signed Pud Rider. Please clear. Thank you - XXXX
Document Uploaded. Hello, please find the signed PUD Rider. Please clear the condition. Thank you. - XXXX

Received - XXXX

XXXX

Resolved

XXXX

4350115730

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115730

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115730

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115731

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115731

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115731

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete

Per loan approval-If we are unable to obtain 12 months from MRC/United Wholesale, we will need a VOR for the previous residence. CBR only validates XXXX mos for address XXXX. Will need VOR for XXXX mos on XXXX rent $XXXX

Document Uploaded. Hello please find attached the certification verifying that there is 12 months of payment history. 10 months noted on the credit report, 1 month on the bank statement and 1 month of the mortgage statement. Total 12 months. Please clear the condition. Thank you. - XXXX

documentation meet guideline requirements - XXXX
Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present. - XXXX

XXXX

Resolved

XXXX

4350115732

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115732

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115732

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Eligibility - Investor Experience

The borrower(s) investor experience does not meet guideline requirements. Mortgage Eligibility: Loan purpose seasoning does not meet guideline requirements - A formal exception is in file.

Compensating factors used are primary mortgage history paid as agreed since XXXX and DSCR score exceeds 1.25.

XXXX

Waived

XXXX

4350115733

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115733

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115733

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115734

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115734

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115734

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Inadequate Hazard Insurance Coverage - Hazard Insurance Coverage is less than all Subject Lien(s)and Replacement Cost Estimator by Insurer was not Provided

Provide insurance company correspondence indicating the policy coverage is sufficient to replace the structure. The subject loan amount exceeds the stated insurance coverage amount on the insurance policy. The appraisal report provided did not include the estimated cost new of the structure, and the evidence of insurance provided did not state the dollar amount of the structure replacement cost.

Document Uploaded. Please see the cost estimator and part of the homeowner's policy regarding replacement cost. The homeowner's policy reflects sufficient coverage. Please clear the condition. Thank you. - XXXX

Received Checklist of Coverage for hazard policy which specifies $XXXX coverage is based on replacement cost. Also, received CoreLogic SwiftEstimator which estimated the replacement cost of the structure as $XXXX. - XXXX

XXXX

Resolved

XXXX

4350115735

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115735

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115735

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115736

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115736

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115736

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Guidelines require for 1099 income that if the 1099 reporting period is greater than 90 days from the Note date, then year-to-date earnings must be documented and support the ongoing receipt of income shown on the 1099's. Please provide year-to-date evidence of income receipt for XXXX, XXXX, and XXXX to support earnings used to qualify.

Document Uploaded. Please see documentation of year to date earnings for XXXX, XXXX and XXXX. Please accept and clear the condition. Thank you. - XXXX
Document Uploaded. Please find the certification regarding the income for the three sources. Please accept. Thank you. - XXXX

Received YTD earnings information for XXXX, XXXX, and XXXX along with explanation regarding XXXX and XXXX fluctuations. Concur that drivers will work for the service that is offering better incentives at the time. XXXX and XXXX earnings combination supports the combined earnings calculated in qualifying for XXXX and XXXX driving. WVOE for XXXX year to date earnings supports qualifying earnings for this income source.
- XXXX

XXXX

Resolved

XXXX

4350115737

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 7

XXXX

Compliance

The Deed of Trust is Missing

The Deed of Trust is missing. The DOT is in the file but is not legible.

Document Uploaded. Please find a better copy of the mortgage and attachments. Please clear the condition. Thank you. - XXXX

documentation meet guideline requirements - XXXX
The Deed of Trust has been provided. - XXXX

XXXX

Resolved

XXXX

4350115737

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 7

XXXX

Credit

Final Settlement Statement Missing.

The final Settlement Statement document is missing. The Final HUD is in the file but it is not legible. Final HUD-1 Document is Missing. Final HUD-1 Document is Missing.

Document Uploaded. Please find the attached signed final closing disclosure. Please clear the condition. Thank you - XXXX

Final HUD-1 Document is not missing or estimated only. - XXXX
documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115737

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 7

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115737

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 7

XXXX

Credit

DTI - Missing Debts/ DTI Exceeds Tolerance

The DTI did not reflect all of the borrower's debts resulting in a DTI that exceeds allowable tolerances. Calculated DTI is greater than DTI underwriter has. Appears underwriter did not include rental income or count all liabilities.

Documentation meet guideline requirements. Final DTI 42.49% vs 38.98% variance in updated originator is the amount of PITIAS used for subj XXXX and REO XXXX. Still within guideline DTI approval. - XXXX
Document Uploaded. Please find documentation for XXXX for $XXXX.  Also, please find the lease for XXXX and 1007 for XXXX.  Please clear the condition.  Thank you.  - XXXX
Document Uploaded.  - XXXX
Document Uploaded. Please find attached the breakdown for the properties as requested.  Please clear the condition.   Thank you. - XXXX
Please clarify what debts/rental income are not included in the calculation. Thank you - XXXX
Please clarify what debt or properties were not included in the DTI calculation. Please advise of the recalculated Dti.  Thank you.  - XXXX

Documentation meet guideline requirements. Final DTI 42.49% vs 38.98% variance in updated originator is the amount of PITIAS used for subj XXXX and REO XXXX. Still within guideline DTI approval. - XXXX
Audit DTI current 47.32%. No lease/rent for XXXX $XXXX in file. Correct Pitias $XXXX (PI XXXX + tax XXXX + Ins XXXX + HOA XXXX). Please provide rental agreement for $XXXX. Subject XXXX Pitias $XXXX (PI XXXX + tax XXXX + Ins XXXX + HOA XXXX), rent $XXXX/($XXXX) negative rent subject property does not match originator. All other properties were match/in line with originator calculation.

With current updates DTI below guideline 50%, but doesn't match originator updated 38.98% - XXXX
1. XXXX-negative rent ($XXXX)
2. XXXX-negative rent ($XXXX)
3. XXXX-negative rent ($XXXX)
4. XXXX-negative rent ($XXXX)
5.XXXX-negative rent ($XXXX)
6. XXXX-positive rent ($XXXX)
7.XXXX-positive rent ($XXXX)
8. XXXX-positive rent ($XXXX)
9. XXXX-positive rent ($XXXX)
10. XXXX-positive rent ($XXXX)
11. XXXX-positive rent ($XXXX)
Other REO Total rent loss-$XXXX
Subj rent loss-$XXXX
CBR liaibilities-$XXXX
Primary Pitias-$XXXX
Total liaiblities-$XXXX vs $XXXX (XXXX + XXXX) used on final 1008
- XXXX

XXXX

Resolved

XXXX

4350115737

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 7

XXXX

Credit

Missing Lease Agreement

Originator to provide lease agreements for rental properties or tax returns if applicable.
1. XXXX
2. XXXX
3. XXXX
4. XXXX

Document Uploaded. Please see lease on XXXX and XXXX - XXXX

documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115737

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

6 of 7

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. 1. mortgage statement for XXXX is missing
2. hazard insurance statement for primary XXXX

Document Uploaded. Please find the executed Hud1 for XXXX. Please see the master insurance policy for XXXX. There is no guidelines in file indicating that a H06 is required. There is no H06 for XXXX. Please clear the condition. Thank you. - XXXX

documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115737

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

7 of 7

XXXX

Credit

Audited DTI Exceeds Guideline DTI

Audited DTI exceeds guideline DTI. rental property income/loss was not factored into underwriter's income

Document Uploaded. Please find documentation for XXXX for $XXXX.  Also, please find the lease for XXXX and 1007 for XXXX.  Please clear the condition.  Thank you.  - XXXX
Document Uploaded.  - XXXX
Document Uploaded. Please find attached the breakdown of the properties and supporting the DTI used. Thank you.  - XXXX
Please clarify which rental property rental income/loss was not included.  Please provide the specific property not included in DTI.  Thank you.  - XXXX

Documentation meet guideline requirements. Final DTI 42.49% vs 38.98% variance in updated originator is the amount of PITIAS used for subj XXXX and REO XXXX. Still within guideline DTI approval. - XXXX
Audit DTI current 47.32%. No lease/rent for XXXX $XXXX in file. Correct Pitias $XXXX (PI XXXX + tax XXXX + Ins XXXX + HOA XXXX). Please provide rental agreement for $XXXX. Subject XXXX Pitias $XXXX (PI XXXX + tax XXXX + Ins XXXX + HOA XXXX), rent $XXXX/($XXXX) negative rent subject property does not match originator. All other properties were match/in line with originator calculation.

With current updates DTI below guideline 50%, but doesn't match originator updated 38.98% - XXXX
1. XXXX-negative rent ($XXXX)
2. XXXX-negative rent ($XXXX)
3. XXXX-negative rent ($XXXX)
4. XXXX-negative rent ($XXXX)
5.XXXX-negative rent ($XXXX)
6. XXXX-positive rent ($XXXX)
7.XXXX-positive rent ($XXXX)
8. XXXX-positive rent ($XXXX)
9. XXXX-positive rent ($XXXX)
10. XXXX-positive rent ($XXXX)
11. XXXX-positive rent ($XXXX)
Other REO Total rent loss-$XXXX
Subj rent loss-$XXXX
CBR liaibilities-$XXXX
Primary Pitias-$XXXX
Total liaiblities-$XXXX vs $XXXX (XXXX + XXXX) used on final 1008
- XXXX

XXXX

Resolved

XXXX

4350115738

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115738

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115738

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115739

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115739

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115739

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115740

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115740

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115740

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Credit Profile - Alerts

The credit report contain alerts which have not been adequately addressed in the loan file. There is a fraud alert on the credit report. Documentation that the borrower has been contacted is missing from the loan file.

Document Uploaded. Please see the certification where the borrower was contacted regarding the credit alert. Thank you. - XXXX

Documentation provided is sufficient - XXXX

XXXX

Resolved

XXXX

4350115740

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Assets - Miscellaneous

The loan file does not contain all required asset documentation. Documentation reflecting the ownership percentage of XXXX is missing from the loan file.

Document Uploaded. Please find attached certification, annual report and formation documents confirming that the borrower is the sole owner of the business. Please accept the documentation and clear the condition. Thank you. - XXXX

Evidence of business management and ownership provided, condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115741

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115741

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Provide clarification why the title, the recorded deed, and the fraud report online transaction history states the full purchase price of $XXXX of the contract for deed, versus VOM have original mortgage amount $XXXX, with a payoff amount of $XXXX.

Document Uploaded. Please find attached the certification explaining the discrepancy between the land contract price and payoff. Please clear. Thank you. - XXXX

Explanation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115741

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Property

Property Issue - Neighborhood Location

The subject appraisal verified a neighborhood location not allowed per guidelines. Rural property does not meet guidelines. A formal exception is in the file.

The exception was approved based on residual income of $XXXX, a credit score XXXX+ points above the maximum, and a DTI much less than 40%.

XXXX

Waived

XXXX

4350115742

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115742

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines. Condition added

XXXX

Cleared

XXXX

4350115742

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115743

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Final Settlement Statement Missing.

The final Settlement Statement document is missing. Unable to locate the HUD 1/ Closing Disclosure.

Document Uploaded. - XXXX

documentation meet guideline requirements - XXXX
Final HUD-1 Document is not missing or estimated only. - XXXX

XXXX

Resolved

XXXX

4350115743

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115743

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115744

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

Missing HUD-1 Closing Statement

Final HUD-1 Document is Missing. The Alta Settlement Statement is not signed by the borrowers.

Document Uploaded. Per escrow, the final settlement statement has never been a requirement to be signed. Please see attached signed estimated settlement statement - XXXX
Document Uploaded. - XXXX

Signed Estimated Settlement Statement and Certified Settlement Statement provided. - XXXX
The Alta Settlement Statement is not signed by the borrowers. - XXXX

XXXX

Resolved

XXXX

4350115744

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115744

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115745

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115745

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. There is no 12 month housing history in the last XXXX years. Exception was referenced for approval provided XXXX months reserves are verified; however, no formal approved exception was found in file. Also, please provide compensating factors on the formal exception.

Document Uploaded. - XXXX

Less than 12 months housing history on the subject property - A formal exception is in file. - XXXX

Compensating factors used are Experienced Investor, XXXX FICO, and No Mortgage Lates.

XXXX

Waived

XXXX

4350115745

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115745

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Assets - Insufficient Cash to Close or Reserves

Borrower(s) total verified assets are insufficient for cash to close or reserves. $XXXX of assets are verified; however, $XXXX in reserves plus funds to close were required ($XXXX reserves, $XXXX funds to close), resulting in an asset shortage of $XXXX. Per referenced exception, XXXX months of reserves were required due to insufficient mortgage history documented per guidelines.

Document Uploaded. - XXXX

Received approved Exception Report reflecting 6 months reserves. - XXXX

XXXX

Resolved

XXXX

4350115746

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115746

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115746

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. There were gifts given to the borrower totaling $XXXX, resulting in less than a 5% borrower contribution, and the LTV is 90%. Per guidelines, Gift funds are acceptable for loans >=75% LTV / CLTV however the underlying Borrower(s) must contribute at least 5% of the transaction from their own funds.

Document Uploaded. - XXXX

Response is sufficient - XXXX

XXXX

Resolved

XXXX

4350115747

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Credit

Evidence of Property Tax Missing

Missing evidence of property tax. Unable to locate the tax documentation for $XXXX annually used in the approval.

Document Uploaded. - XXXX
Document Uploaded. Please advise if the attached 1008 will suffice. If not, please advise the exact documentation to clear the findings. - XXXX
Per our team, this loan is a non-escrow account, and we will not make any disbursement. Please advise. - XXXX

documentation meet guideline requirements - XXXX
Provide documentation validating the tax amount used in approval $XXXX annually/$XXXX monthly - XXXX
Regardless of non escrow we are to still validate with documentation the PI, Taxes, HOI, and HOA if applicable. The full pitia's is used to determine DSCR calculation. - XXXX

XXXX

Resolved

XXXX

4350115747

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Credit

Fraud Report Shows Uncleared Alerts

Fraud Report shows uncleared alerts. There are several uncleared alerts shown on the fraud report.

Document Uploaded. - XXXX

per documentation high alerts cleared XXXX. documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115747

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115747

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115748

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115748

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115748

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115749

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115749

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115749

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Housing history evidenced by twelve (12) months proof of payment via cancelled checks, bank debits or institutional VOR. Private Party VORs / VOMs only will be considered on a case-by-case basis and will require an exception approval, subject to an LLPA. The file contained only XXXX months of proof of rent payments and no exception.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115750

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115750

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Missing Doc - 3rd Party Valuation Product/Missing

The loan file did not contain the required 3rd party valuation product. Unable to locate the 3rd party valuation.

Program guidelines did not require a CDA due to CU score being under 2.5. Attached CU report. - XXXX

FNMA property report provided, score XXXX is sufficient for secondary valuation product, condition is resolved. - XXXX

XXXX

Resolved

XXXX

4350115750

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115751

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 5

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115751

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115751

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 5

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary.

Hello - Our loans do not include an approval/UW summary - XXXX

Executed Loan Agreement is used in lieu of loan approval/1008. - XXXX

XXXX

Void

XXXX

4350115751

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 5

XXXX

Credit

Missing Property Tax Cert

Missing property tax cert.

Document Uploaded. Please see the attached - XXXX

Received subject property tax cert from XXXX County Tax Collector - no issues noted. - XXXX

XXXX

Resolved

XXXX

4350115751

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

5 of 5

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Missing XXXX months housing history to support 0x30 in the past 124 months per guideline requirements.

Hello - This is not a requirement per our guidelines - XXXX

Guideline clarification received XXXX which required subject property housing history only and not primary housing. - XXXX

XXXX

Void

XXXX

4350115752

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115752

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115752

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115753

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115753

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115753

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115754

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115754

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115754

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115755

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115755

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Missing HOA/Condo Certification

There appears to be discrepancies between the HOA Project Questionnaires and the appraisal report regarding the number of units in the project, owner occupied units, investor owned units and the number of units owned by a single entity. Unable to determine if the condo project is warrantable. Please provide clarification and confirm the condo project is warrantable.

Hello - Subject property should be marked as non-warrantable. Thank you - XXXX

Project is non-warrantable, condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115755

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115756

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115756

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115756

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Guidelines require 24 month history for primary residence, which was missing from file.

Hello - Guidelines do not require this. That is only if the credit in file does not meet age requirements which is not the case with the Education loans being open for XXXX months. - XXXX

Guideline clarification received XXXX which required subject property housing history only and not primary housing. - XXXX

XXXX

Void

XXXX

4350115757

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115757

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115757

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115758

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115758

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115758

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Missing XXXX month housing history for primary residence.

Hello - Guidelines do not require this. That is only if the credit in file does not meet age requirements which is not the case with the Education loans being open for XXXX months. - XXXX

Guideline clarification received XXXX which specified subject property housing history only required and not primary residence. - XXXX

XXXX

Void

XXXX

4350115759

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115759

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115759

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115760

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115760

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115760

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Program Parameters - Borrower/Business Entity Ineligibility

Missing the required Certificates of Formation (filed articles of organization/incorporation).

Document Uploaded. Please see the attached. - XXXX

Certificate of Formation provided. - XXXX

XXXX

Resolved

XXXX

4350115761

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115761

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115761

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Missing XXXX month housing history for primary residence.

Hello - This is a business purpose loan. There is no requirement in our guidelines based on the borrowers primary residence. - XXXX

Guideline clarification received XXXX that stated subject property housing history only required and not primary residence. - XXXX

XXXX

Void

XXXX

4350115761

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Inadequate Hazard Insurance Coverage - Hazard Insurance Coverage is less than all Subject Lien(s) and Replacement Cost Value Provided

Coverage amount noted is $XXXX when loan amount is $XXXX. Need replacement cost estimate to support coverage of $XXXX will rebuild subject structure.

Document Uploaded. Hello - Valuation provided as replacement cost (Per binder), confirmed by agent that XXXX is 100% replacement. - XXXX

Policy reflects in the coverage form section that includes replacement cost - XXXX
Received Insurance Binder which was already in file and reflects $XXXX coverage. The binder does not state the $XXXX is the replacement cost of the structure nor was a replacement cost estimate (RCE) provided to support $XXXX coverage was sufficient to cover structure rebuild. In addition, $XXXX coverage for Loss of Rent was noted, which is XXXX months of subject PITIA when guidelines require a minimum of 6 months rental loss coverage. Please provide RCE or written insurance company confirmation that the $XXXX is the replacement cost of the structure, in addition to providing documentation to support the subject has a minimum of 6 months rental loss coverage per guideline requirements. - XXXX

XXXX

Resolved

XXXX

4350115762

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Missing recent housing history verification for both Primary Residence and Subject Property.

Document Uploaded. VOM and Lease Affidavit for subject property attached. We do not require a VOM for the borrowers residence. - XXXX

Guideline clarification received XXXX which stated subject property housing history only required and not primary residence. - XXXX

XXXX

Void

XXXX

4350115762

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115762

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115763

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115763

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Unable to locate a 12 month mortgage history for XXXX (primary residence). Please provide a 12 month mortgage history.

Document Uploaded. Attached. - XXXX
Guideline per XXXX. - XXXX
Please waive per updated guidelines. - XXXX

Received 12 month mortgage history - XXXX
The Note Date is XXXX. The guidelines dated XXXX would not be applicable. Note: The guidelines dated XXXX require a payment history of 1x30x12 mortgage on the subject property and borrower’s primary residence. Please provide 12 month mortgage history for XXXX (primary residence). - XXXX
Unable to determine which updated guidelines lender is referring to. The guidelines dated XXXX require a 12 month payment history on the primary residence. - XXXX

XXXX

Resolved

XXXX

4350115763

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Compliance

Closing Detail Statement Indicator is Missing

Closing Detail Statement Indicator is Missing. Unable to locate the final settlement statement. Please provide the final settlement statement.

Document Uploaded. Attached was provided. - XXXX

Received settlement statement. - XXXX
Closing Detail Statement Indicator is not Missing. - XXXX

XXXX

Resolved

XXXX

4350115763

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Title Commitment - Other

There are additional findings regarding the title commitment. Missing a complete copy of the preliminary title report.

Document Uploaded. See attached. - XXXX
Could you clarify which part is missing? I provided the entire title report. - XXXX

Received complete copy of prelim. - XXXX
The file does not contain a preliminary title report. Please provide the preliminary title report. - XXXX

XXXX

Resolved

XXXX

4350115764

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115764

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115764

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Corporate OR Partnership: Names and ownership percentages for Partners & Limited Partners is Incomplete

The documentation in file to verify the corporate or partnership names and ownership percentages for partners and limited partners is incomplete. XXXX and XXXX and CPA letter do not specify Guarantor's percentage of ownership. A bank account in the name of this corporation is being used as an asset source. If this information is not confirmed, Guarantor will have insufficient assets documented for funds to close and reserves.

Document Uploaded. Attached. - XXXX

Received CPA letter indicating Guarantor is 100% corporate owner. - XXXX

XXXX

Resolved

XXXX

4350115765

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115765

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115765

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Property Title Issue

Property title issue. Provide title supplement or final title policy to show items #XXXX Vendor's Lien $XXXX, #XXXX Mechanic's Lien $XXXX, and Mechanic's Lien $XXXX have been removed. No evidence was in file to show the aforementioned liens were paid off and that subject would be in first lien position.

Document Uploaded. - XXXX
Document Uploaded. Please see the attached. - XXXX

Received demand for $XXXX mechanic's lien, which was settled for $XXXX. Payoff to Consolidated Reinforcement was padded showing in the amount of $XXXX on final XXXX for loan XXXX (Unit XXXX). Also received demand for $XXXX vendor's lien. Final Alta settlement statements for loans XXXX, XXXX, and XXXX show equal disbursements in the amount of $XXXX, totaling $XXXX which included padding, payable to XXXX per demand provided. Total payoff through XXXX was $XXXX with $XXXX per diem. $XXXX in padding does not impact LTV nor cash out requirements per guidelines.  - XXXX
Document Uploaded.  - XXXX
Received release for $XXXX mechanic's lien which is satisfactory to address this title item. However, the Lender's Closing Instructions and Ledger are insufficient to address the $XXXX mechanic's lien and $XXXX vendor's lien. Please provide any of the following in order to satisfactorily address the $XXXX mechanic's lien and $XXXX vendor's lien showing on the Title Commitment: 1) Title Supplement removing the liens from the Title Commitment, 2) Final Title Policy reflecting subject in first lien position and the aforementioned liens not on the Title Policy, 3) Executed and notarized releases that show evidence that the aforementioned liens have been satisfied; the amounts and the recording information on the releases must reconcile with the Title Commitment, 4) Demands with proof of payoff made on the aforementioned liens; the amounts and the recording information on the demands must reconcile with the Title Commitment and demands must be issued by authorized representatives. The proof of payoff must reconcile with the demands issued by authorized representatives.   - XXXX

XXXX

Resolved

XXXX

4350115766

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115766

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115766

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Property Title Issue

Document Uploaded. - XXXX
Document Uploaded. Please see the attached. - XXXX

XXXX

Resolved

XXXX

4350115767

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115767

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115767

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115768

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115768

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Compliance

Federal - Loan Estimate Disclosure Received and Intent To Proceed

The date the consumer indicated an intent to proceed with a transaction (XXXX) is before the date the consumer received the Loan Estimate (XXXX). A consumer cannot indicate an intent to proceed with a transaction until it receives the Loan Estimate. Under Regulation Z, neither a creditor nor any other person may impose a fee, other than a credit report fee, before the consumer has received the Loan Estimate and indicated to the creditor an intent to proceed with the transaction described by the Loan Estimate. (12 CFR 1026.19(e)(2)(i)(A)) Initial docs were issued on XXXX and received XXXX, however the earliest LE in the file was not issued until XXXX.

Document Uploaded. - XXXX

Received initial LE. Finding resolved - XXXX

XXXX

Resolved

XXXX

4350115768

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Corporation/LLC: Operating Agreement Doc is Missing

The loan file does not contain the Corporation/LLC: Operating Agreement. The operating agreement for XXXX or other documentation showing the borrower is 100% owner is missing from the loan file.

Document Uploaded. - XXXX

the documentation provided is sufficient - XXXX

XXXX

Resolved

XXXX

4350115769

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115769

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115769

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115770

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 6

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. The mortgage statement for the borrower's primary residence located at XXXX is missing from the loan file. Please provide the mortgage statement along with tax/insurance/HOA statements if the loan is not escrowed. Also provide the XXXX statement for the HELOC for XXXX/month.

Document Uploaded. - XXXX
Document Uploaded. - XXXX

Received VOM for XXXX. - XXXX
The mortgage statement for XXXX is missing. Please provide the mortgage statement along with tax/insurance/HOA statements if the loan is not escrowed. - XXXX

XXXX

Resolved

XXXX

4350115770

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 6

XXXX

Credit

Final Settlement Statement Missing.

The final Settlement Statement document is missing. Per the letter of explanation provided by the borrower, the following properties are being refinanced: XXXX. Please provide the final settlement statement/payment letter for these properties. If the loans are not escrowed, please provide the tax/insurance/HOA statements for these properties.

Document Uploaded. - XXXX
Document Uploaded. - XXXX

documentation provided is sufficient. - XXXX
Settlement statements for XXXX #XXXX & XXXX have been provided, but are still missing #XXXX and XXXX. - XXXX

XXXX

Resolved

XXXX

4350115770

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 6

XXXX

Credit

Corporation/LLC: Operating Agreement Doc is Missing

The loan file does not contain the Corporation/LLC: Operating Agreement. The operating agreement for XXXX is missing from the loan file.

Document Uploaded. - XXXX

The operating agreement for XXXX has been provided. - XXXX

XXXX

Resolved

XXXX

4350115770

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 6

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. There is a mortgage reflected on the credit report for NR/SMS/CAL that was omitted from the DTI. Please provide the mortgage statement for this loan. If the loan is not escrowed, please provide the tax/hazard/HOA statement.

Document Uploaded. - XXXX

Documentation showing the mortgage reflected on the credit report for NR/SMS/CAL should have been deleted has been provided. - XXXX

XXXX

Resolved

XXXX

4350115770

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 6

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115770

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

6 of 6

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115771

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115771

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115771

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115772

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115772

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115772

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115773

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

1 of 3

XXXX

Property

Subject property appraisal is not on an as-is basis (Primary Value)

Primary value subject property appraisal is not on an as-is basis. 1004D is missing from the loan file.

Document Uploaded. - XXXX

1004D provided, condition resolved. - XXXX
Primary Value Subject Property Appraisal is completed on an As-Is Basis or Not Applicable - XXXX

XXXX

Resolved

XXXX

4350115773

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

2 of 3

XXXX

Compliance

TRID: Missing Initial Closing Disclosure

The loan file does not contain the initial Closing Disclosure. The initial CD is not present in the loan documents. I did not run compliance due to this; therefore, additional findings may be added upon receipt.

Document Uploaded. - XXXX

Received initial CD. Finding resolved - XXXX

XXXX

Resolved

XXXX

4350115773

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115774

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115774

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115774

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115775

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Foreign National guideline is Max 75% CLTV and No Cash out. A formal exception is located in the loan file.

Monthly reserves is verified and at least XXXX months more than guideline minimum, 70 LTV max. Cash out funds can be used as reserves, DSCR to remain above 1.

XXXX

Waived

XXXX

4350115775

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115775

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115776

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115776

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115776

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

Missing Closing/Final Verbal VOE

Guidelines require the borrower's current employment status and can be established with a year-to-date paystub dated within 30 days of Note date or a verbal VOE dated no more than 10 calendar days prior to the Note date. Per Note, the Note date was XXXX. B1 most recent pay stub in file was dated XXXX which is over 30 days prior to the Note Date, and VOE in file was verified on XXXX which was over 10 days prior to the Note Date.

Document Uploaded. - XXXX

Received Equifax Verification of Employment verified on XXXX for B1. - XXXX

XXXX

Resolved

XXXX

4350115777

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Borrower 2, XXXX, lives rent free with no ownership of any real estate. A formal exception is in the file.

The exception was approved based on all terms and conditions to be met as submitted.

XXXX

Waived

XXXX

4350115777

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115777

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115778

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115778

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115778

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115779

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. The loan for the subject property is not escrowed. Per guidelines, escrow/impound accounts may be waived when the following requirements are met: Minimum credit score of 720 and a minimum of 12 months of reserves. A formal exception is located in the loan file.

Not HPML. LTV is 64, which is below the guideline maximum of 80%. FICO of XXXX is greater than the 720 minimum requirement. XXXX months of reserves, which is greater than the 12-month minimum requirement. Not in a flood zone.

XXXX

Waived

XXXX

4350115779

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115779

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115780

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115780

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Business bank statements are being used to document income. Guidelines allow 5 NSF transactions in the last 12 months. The borrower has XXXX. A Formal exception was done to allow.

The exception was approved based on a FICO higher than 740, and at least XXXX points higher than guideline minimum, LTV less than 70%, and at least 5% less than guideline maximum, qualifying DTI less than 35%, and at least 10% less than guideline maximum.

XXXX

Waived

XXXX

4350115780

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115781

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115781

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115781

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115782

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115782

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115782

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115783

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

1 of 3

XXXX

Property

Appraisal - Miscellaneous

The subject appraisal reflected issues. Subject is a rural property and is an ineligible property type. A formal exception is in the file, but one of the compensating factors indicate the LTV is 5% or more below the maximum allowed. Please provide an updated formal exception as the LTV is actually 80%, which is the maximum. Guidelines require using the lesser of the appraised value or purchase price for a rate/term refinance when the property was acquired <6 months from the note date; borrower purchased subject for $XXXX on XXXX.

Document Uploaded. Please find updated exception form. Please clear the condition. Thank you. - XXXX

Guidelines require using the lesser of the appraised value or purchase price for a rate/term refinance when the property was acquired <6 months from the note date; borrower purchased subject for $XXXX on XXXX. A formal exception was provided. - XXXX

Loan approved based on residual income 1.5x required $XXXX 18 GL $XXXX); Reserves XXXX mo (GL 6); Credit score XXXX+ points minimum required XXXX(XXXX).

XXXX

Waived

XXXX

4350115783

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

2 of 3

XXXX

Credit

Transaction is not arm's length

Borrower previously rented subject before purchasing on XXXX. Formal exception in file for a Non-Arms Length transaction, but one of the compensating factors indicate the LTV is 5% or more below the maximum allowed. Please provide an updated formal exception as the LTV is actually 80%, which is the maximum. Guidelines require using the lesser of the appraised value or purchase price for a rate/term refinance when the property was acquired <6 months from the note date; borrower purchased subject for $XXXX on XXXX.

Document Uploaded. Please find updated exception form. Please clear the condition. Thank you. - XXXX

Borrower previously rented subject before purchasing on XXXX. Formal exception in file for a Non-Arms Length transaction. - XXXX

Loan approved based on residual income 1.5x required $XXXX 18 GL $XXXX); Reserves XXXX mo (GL 6); Credit score XXXX+ points minimum required XXXX(XXXX).

XXXX

Waived

XXXX

4350115783

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115784

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 5

XXXX

Credit

Approval - Lender Income Calculation Missing

The loan file did not contain the lender income calculation worksheet as required. Per the audit review the income calculation is $XXXX, originator closed with $XXXX and the 1003 states income used was $XXXX. Originator will need to provided their final income worksheet to support the income of $XXXX used in the approval

Document Uploaded. Please see the certification regarding use of audited income. Thank you. - XXXX

Response from lender okay to proceed using audit income of $XXXX. DTI ratios still in guideline limits at 38.91/49.77%. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115784

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 5

XXXX

Credit

Income - Mismatch

Identifying information on the W2's or paystubs do not match information on the 1003. Need an exception to use the higher income of $XXXX rather that what the originator calculated at $XXXX.

Document Uploaded. Please see the certification regarding use of audited income. Thank you. - XXXX

Response from lender okay to proceed using audit income of $XXXX. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115784

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115784

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

4 of 5

XXXX

Compliance

Charges That In Total Cannot Increase More Than 10% Test (XXXX)

The total amount of the 10% category fees on the last Closing Disclosure ($XXXX) has increased by more than 10% over the current baseline value of ($XXXX). The total amount of fees in the 10% category cannot exceed ($XXXX). The following fee(s) have either increased from their baseline disclosure or have been recently added: (Recording Fees – Mortgage/Deed of Trust). Any increase to an existing fee and/or the addition of a new fee that causes the 10% category threshold to be exceeded cannot occur unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee(s) or new fee(s). (12 CFR 1026.19(e)(3)(ii); 12 CFR 1026.19(e)(3)(iv)). The Recording Fee on line 01 in Section E on the initial Closing Disclosure dated XXXX increased by 20.8%, from $XXXX to $XXXX, on the final Closing Disclosure dated XXXX without a valid change of circumstance.

Document Uploaded. Hello, please find attached the PCCD. As the recording fee was less than the initial Le, no refund is required. Please clear the condition. Thank you. - XXXX

Received PCCD. - XXXX
Resolved - XXXX

XXXX

Resolved

XXXX

4350115784

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

5 of 5

XXXX

Compliance

Charges That In Total Cannot Increase More Than 10% Test (XXXX)

The total amount of the 10% category fees ($XXXX) has increased by more than 10% over the current baseline value of ($XXXX). The total amount of fees in the 10% category cannot exceed ($XXXX). The following fee(s) have either increased from their baseline disclosure or have been recently added: (Recording Fees – Mortgage/Deed of Trust). Any increase to an existing fee and/or the addition of a new fee that causes the 10% category threshold to be exceeded cannot occur unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee(s) or new fee(s). (12 CFR 1026.19(e)(3)(ii); 12 CFR 1026.19(e)(3)(iv)). The Recording Fee on line 01 in Section E on the initial Closing Disclosure dated XXXX increased by 20.8%, from $XXXX to $XXXX, on the final Closing Disclosure dated XXXX without a valid change of circumstance.

Document Uploaded. Hello, please find attached the PCCD. As the recording fee was less than the initial Le, no refund is required. Please clear the condition. Thank you. - XXXX

Received PCCD. - XXXX
Resolved - XXXX

XXXX

Resolved

XXXX

4350115785

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115785

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115785

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115786

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 4

XXXX

Property

Missing Doc - 3rd Party Valuation Product/Missing

The loan file did not contain the required 3rd party valuation product. Per the guidelines, a UCDP with a score of 2.5 or less is required, if the score is higher a desk review, field review or 2nd appraisal is required. The UCDP scores for this property are XXXX and XXXX.

Document Uploaded. - XXXX

CDS with acceptable Low Risk received. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115786

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 4

XXXX

Property

Loan Purpose is Purchase but Purchase Contract Doc is Missing

Loan purpose is purchase and valuation type of purchase contract has not been selected. Unable to locate the purchase contract in the loan file.

Document Uploaded. - XXXX

Purchase Contract Doc is not Missing, or is Not Applicable. - XXXX

XXXX

Resolved

XXXX

4350115786

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 4

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115786

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

4 of 4

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115787

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115787

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115787

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115788

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 2

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115788

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 2

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115789

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115789

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115789

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115790

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Credit

Assets - Earnest Money Deposit

The earnest money deposit was not properly documented and/or sourced. The total deposited, per the final CD is $XXXX. Documentation of the $XXXX and the $XXXX deposits are located in the loan file, but documentation of the additional $XXXX is missing from the loan file along with proof that the funds cleared the account.

Document Uploaded. The Emd check for $XXXX has been provided and dated in XXXX. AS this is XXXX years ago and the amount was noted on the XXXX purchase contract and CD, is it possible to waive the source account. Please accept. Thank you. - XXXX

Documentation is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115790

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115790

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per the appraisal, the builder is in control of the project. Per guidelines, the HOA should be in control, and projects under Developer or Builder control will be considered on a case-by-case basis only. Also, per the appraisal, not all common areas are complete. Per guidelines, all common elements in the project or legal phase must be 100% complete. A formal exception is located in the loan file.

Good FICO. Low DTI. Good property and high residual income

XXXX

Waived

XXXX

4350115790

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115791

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115791

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115791

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115792

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115792

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

Missing Doc - Affiliated Business Disclosure/Missing

Required Affiliated Business Disclosure missing

Document Uploaded. please see attached - XXXX

ABD received, no affiliates. Condition resolved. - XXXX
Required Affiliated Business Disclosure Resolved - XXXX

XXXX

Resolved

XXXX

4350115792

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115793

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Loan Package - Trust Agreement Missing

The loan file did not contain the Trust Agreement as required. The XXXX created under trust instrument dated XXXX, for the benefit of XXXX and XXXX was not provided. Additionally, the Living Trust Checklist is incomplete.

Document Uploaded. Please see the living Trust checklist and executed Trust Certificate. Please clear the condition. Thank you. - XXXX

Certification or Trust and Trust review checklist received. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115793

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Appraisal - Other

There are additional appraisal findings. Provide disaster inspection report appraisal dated XXXX - disaster date XXXX

Document Uploaded. Please find the post inspection disaster. No damage noted. Please clear. Thank you. - XXXX

PCDI received XXXX showing free and clear of any damages. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115793

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

Mortgage not properly executed

There is no signature for non-borrower Trustee at line "XXXX, AS TRUSTEE OF THE XXXX UNDER TRUST INSTRUMENT DATED XXXX FOR THE BENEFIT OF XXXX".

Document Uploaded. Please see page XXXX of the mortgage. XXXX's signature as trustee is noted. Please clear the condition. Thank you. - XXXX

Received mortgage with all signature liens executed properly. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115794

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115794

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115794

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115795

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115795

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

2 of 4

XXXX

Compliance

Missing evidence of rate lock

Missing evidence of Rate Lock.

Document Uploaded. - XXXX

Received lock confirm. - XXXX

XXXX

Resolved

XXXX

4350115795

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

3 of 4

XXXX

Credit

Approval - Lender Income Calculation Missing

The loan file did not contain the lender income calculation worksheet as required.

Document Uploaded. Income worksheet was in file. Please refer at page XXXX. - XXXX

documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115795

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

4 of 4

XXXX

Credit

Income - LOE Missing

The loan file did not contain a letter of explanation as required. Missing business narrative

Document Uploaded. - XXXX

documentation meet guideline requirements - XXXX

XXXX

Resolved

XXXX

4350115796

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115796

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115796

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115797

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115797

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115797

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115798

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115798

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115798

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115799

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Compliance

Missing evidence of rate lock

Missing evidence of Rate Lock.

Document Uploaded. ATTACHED IS THE RATE LOCK. - XXXX

Evidence of Rate Lock Provided - XXXX

XXXX

Resolved

XXXX

4350115799

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115799

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Assets - Insufficient Source Seasoning

The loan file does not contain all required asset documentation. Assets required for closing were not sufficiently seasoned. Online bank statement for XXXX #XXXX were used without meeting 60 day seasoning requirement. Formal exception in file to allow.

Housing History: 0x30 Other compensating and/or common sense factors: As borrower has sufficient funds in other accounts this was just a mechanical accommodation as borrower wanted to use this single account for required funds at close. Borrower's excellent history of significant income and deposits makes this exception easily common sense.

XXXX

Waived

XXXX

4350115800

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per guidelines, properties recently listed for sale are ineligible. A formal exception is in the loan file for a recently listed property.

Minimum required credit score exceeded by over XXXX points. Depth of the prior housing history is XXXX years.

XXXX

Waived

XXXX

4350115800

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115800

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115801

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Property Issue - Neighborhood Location

The subject appraisal verified a neighborhood location not allowed per guidelines. Per guidelines-Ineligible Properties: Rural Properties. A property is considered rural if: o The appraiser indicates in the neighborhood section of the report a rural location. A formal exception is in file.

Compensating factors-Credit score XXXX+ points > minimum required- XXXX(XXXX). LTV/CLTV 10% or more below the maximum allowed under applicable guidelines- 69.56% (GL = 90%). Reserves exceed by 2 months or more XXXXmonth (6 GL ). RESIDUAL INCOME 100x required -$XXXX(GL $XXXX).

XXXX

Waived

XXXX

4350115801

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115801

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115802

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115802

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115802

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115803

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115803

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Credit

Audited Reserves are less than AUS Required Reserves (Number of Months)

Audited reserves months are less than the AUS required reserve months. Guidelines require 6 month reserves. Formal exception was done to allow 5.

The exception was approved based on disposable income of $XXXX, and XXXX years on job for primary borrower.

XXXX

Waived

XXXX

4350115803

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115804

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115804

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115804

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115805

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115805

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115805

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115806

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115806

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115806

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115807

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Borrower 1 Deed of Trust Signature does not match Note

Borrower 1 Signature does not match Note Signature. Loan file does not contain a borrower signed DOT. Page XXXX was notarized without borrower signature.

Document Uploaded. Please find the mortgage, page XXXX, signed by the borrower and notarized. The signature on the mortgage matches the note's signature. Thank you. - XXXX

Executed DOT received. Condition resolved. - XXXX
Borrower 1 Signature matches Note - XXXX

XXXX

Resolved

XXXX

4350115807

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115807

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115808

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115808

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115808

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115809

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115809

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115809

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Credit

Missing Property Tax Cert

Missing property tax cert. Please provide documentation to support the $XXXX in monthly taxes.

Document Uploaded. Lender calculated the monthly taxes based on 1.25% of the sales price which is $XXXX*1.25% = XXXX / 12 = $XXXX/Month - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115810

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115810

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115810

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 3

XXXX

Compliance

Federal - Closing Disclosure and Consummation Date

The Initial Closing Disclosure was provided on (XXXX) via (XXXXFirstClassMail). Under Regulation Z, a consumer must receive the Initial Closing Disclosure reflecting the actual terms of the transaction not later than three business days prior to the consummation date of (XXXX). Since the Initial Closing Disclosure was not provided in person, a consumer is considered to have received it on (XXXX), which is three business days after it was delivered or placed in the mail. Since the Initial Closing Disclosure was not provided to the consumer in person, it should have been provided to the consumer no later than (XXXX), for consummation to occur on (XXXX). (12 CFR 1026.19(f)(1)(ii)(A)); 1026.19(f)(1)(iii)) The Initial CD is not signed and there isn't any electronic tracking in the file to show it was sent.

Please find the wet signed CD.  Please accept and clear the condition. Thank you. - XXXX
Document Uploaded. Please see the signed CD.  Please clear. Thank you.  - XXXX
Document Uploaded. Hello please find a certification regarding the condition.  We have the mailbox and e consent which confirms the 3 day requirement was met.  Please clear the condition. Thank you. - XXXX

Received signed CD. Finding resolved - XXXX
Resolved - XXXX
Concur with the certification letter provided, in that if the CD is mailed, the 3-business-day waiting period starts three business days after the mailing date. If the CD was mailed on XXXX, then 3 business days would include XXXX, XXXX and XXXX. Three days after XXXX is XXXX. Earliest possible closing date is XXXX. Provide proof of the date the borrower received the initial CD - XXXX

XXXX

Resolved

XXXX

4350115811

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115811

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115811

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Fraud Report Shows Uncleared Alerts

Fraud Report shows uncleared alerts.

Document Uploaded. Fraud clearance is attached.
- XXXX

Documentation provided is sufficient. - XXXX
All Fraud Report Alerts have been cleared or None Exist - XXXX

XXXX

Resolved

XXXX

4350115811

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Evidence of Property Tax Missing

Missing evidence of property tax. Please document the property taxes in the amount of $XXXX as used in DTI. The tax cert in the file does not align with this amount.

Document Uploaded. Please see the attached email from Title regarding the tax calculation. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115812

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 5

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Credit report does not meet guideline requirements due to recent late payments. A formal exception is located in the loan file.

Compensating factors listed as Low LTV on Rate and Term refinancing.

XXXX

Waived

XXXX

4350115812

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 5

XXXX

Credit

Program Parameters - Property Type

The subject loan does not meet program parameters for property type. A formal exception is located in the loan file for a unique subject property.

Compensating factors listed as Low LTV with Rate and Term refinancing.

XXXX

Waived

XXXX

4350115812

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115812

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 5

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115812

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 5

XXXX

Credit

Income - Rental Property

Rental income is not properly documented and/or supported. 2008 provided states originator used Short Term Rental Income. The loan file is missing evidence of the income used.

Document Uploaded. Please see attached market rent for the subject property. Fair market rent $XXXX. The underwriter used $XXXX x 80%=$XXXX. Please accept and clear the condition. Thank you. - XXXX

Originator calculation accepted. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115813

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. PITIA reserves do not meet guideline requirements. A formal exception is in the file.

The exception was approved due to verification of mortgage supports housing payment and year to date income is increasing per P&L.

XXXX

Waived

XXXX

4350115813

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115813

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115814

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115814

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115814

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

DTI - Missing Debts/ DTI Exceeds Tolerance

The DTI did not reflect all of the borrower's debts resulting in a DTI that exceeds allowable tolerances. The loan was approved with a DTI of 35.70%. Using the total debts reporting on the credit report (XXXX - $XXXX; XXXX - $XXXX; SXXXX/or- $XXXX; XXXX - XXXX); and XXXX - $XXXX - totaling $XXXX) along with the rental income for the investment properties including the subject property (XXXX - -XXXX; XXXX- -XXXX; and XXXX - -XXXX totaling $XXXX), the audited DTI is 26.86%. Please provide documentation to support the additional loss of XXXX.

Document Uploaded. - XXXX
Please see certification. Thank you. - XXXX
Document Uploaded. Hello, please find the attached certification regarding the DTI. Please clear the condition. Thank you. - XXXX

Per client there are no other debts to calculate and audit DTI is acceptable. - XXXX
No documents were uploaded. - XXXX
No documentation was loaded to address the condition, condition remains. - XXXX

XXXX

Resolved

XXXX

4350115815

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115815

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115815

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115816

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Title Coverage is Less than Subject Lien(s) Total

Title coverage is less than total amount of subject lien(s). Coverage is $XXXX and loan amount is $XXXX.

Document Uploaded. Please find the title commitment. Thank you - XXXX

documentation meet requirements - XXXX
Title coverage amount of $XXXX is equal to or greater than total amount of subject lien(s) $XXXX+0+0 - XXXX

XXXX

Resolved

XXXX

4350115816

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115816

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115817

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115817

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Credit

Final Settlement Statement Missing.

The final Settlement Statement document is missing.

Document Uploaded. - XXXX

Settlement statement dated XXXX received. Condition resolved. - XXXX
Final HUD-1 Document is not missing or estimated only. - XXXX

XXXX

Resolved

XXXX

4350115817

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115818

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115818

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115818

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115819

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115819

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115819

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115820

XXXX

Second Home

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

1 of 4

XXXX

Credit

Title Document is Partially Present

Title document is incomplete or only partially present. File is missing either a Quick EQ/Property Report or the RELP, MRELP, Transaction Cert, or E&O Policy. Please supply both required Title documents. The title commitment in the file reflects coverage of $XXXX. Please document sufficient title coverage for the full loan amount.

Document Uploaded. Please find the title commitment. Thank you. - XXXX

Title document has been provided. - XXXX

XXXX

Resolved

XXXX

4350115820

XXXX

Second Home

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115820

XXXX

Second Home

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

3 of 4

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350115820

XXXX

Second Home

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

4 of 4

XXXX

Credit

Program Parameters - Occupancy

The subject loan does not meet program parameters for occupancy. The final 1003 reflects the borrower's primary residence as XXXX, however in the real estate owned section of the 1003 it states investment with rental income. A lease is in the file for the XXXX. The property that is shown on the borrower's ID, XXXX, was sold. Please clarify and document the borrower's primary residence, including taxes and insurance as applicable.

Document Uploaded. Hello, the borrower resides at XXXX. The property is a XXXX unit property and rental income is being used for unit XXXX. Please find the 1003 and 1008. Also, XXXX is secured by XXXX. Per the attached credit supplement, piti is included in the payment. Please clear the condition. Thank you. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115821

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115821

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115821

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350115822

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 3

XXXX

Credit

Asset Qualification Does Not Meet Guideline Requirements

Asset Qualification does not meet guideline requirements. Per guidelines, an access letter from the additional owner of the asset account being used for reserves is required. This letter could not be found in the loan documents.

Document Uploaded. Access letter is attached. - XXXX

Letter granting full access received. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115822

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 3

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115822

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 3

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115823

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Unable to locate mortgage statements for the borrowers' properties located at. XXXX, XXXX and XXXX

Document Uploaded. DOCS ARE ATTACHED. - XXXX

Final CDs for the REOs received. Rent loss updated, DTI remains in tolerance. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350115823

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115823

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115823

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Business Purpose - Loan Guaranty/Missing

The Personal Loan Guaranty is missing. Loan closed in LLC, missing Guaranty Agreement.

Document Uploaded. With lender signature - XXXX
Document Uploaded. Correct document is attached.  - XXXX
Personal loan guaranty is attached.  - XXXX
Document Uploaded. PERSONAL GUARANTY IS ATTACHED.  - XXXX

Received Gauranty with all signatures - XXXX
Lender Signature & Date missing. Provide fully executed document with all required signatures completed. - XXXX
Lender Signature & Date missing, as well as guarantor/borrower 2nd signature missing. Provide fully executed document with all required signatures completed. - XXXX
Borrower executed Loan Guaranty on only 1 of 2 lines, lender has not executed at all. Please provide a completely executed Guaranty doc. - XXXX

XXXX

Resolved

XXXX

4350115824

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

1 of 5

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115824

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

2 of 5

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115824

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

3 of 5

XXXX

Credit

PITIA miscalculated/exceeds tolerance

Lender used county taxes only $XXXX quarterly. The property is new construction and has not been assessed. However, the appraisal shows $XXXX per appraiser notations. The DSCR variance is significant 0.83 vs 0.570. Review of the property taxes and DSCR is recommended.

Hi team, This is a purchase loan, the vacancy factor should not be applied, the market rent $XXXX should be used to calculate the DSCR ratio.  $XXXX Gross rent / $XXXX PITIA= 0.79 ratio - XXXX
Document Uploaded.  - XXXX
The appraiser noted unter Tax mill/ Rate: "Property taxes have not been assessed as the subject is new construction. XXXX recorded on page one of the report are based on sale #XXXX ($XXXX). Per XXXX records, the current tax rate for the subject tax district is XXXX (Tax District XXXX)." The higher taxes should be used as guidelines do not have specific rates to be used for new construction. Provide clarification or documentation that the lower 0.570 ratio is acceptable. - XXXX
Document Uploaded.  - XXXX

Resolved PITIA using XXXX value per explanation provided $XXXX x XXXX% appraiser tax rate = $XXXX/12= $XXXX monthly tax. $XXXX Market Gross rent / $XXXX PITIA= XXXX. Rounds to XXXX- this is sufficient.
- XXXX
Using $XXXX value per explanation provided $XXXX x XXXX% appraiser tax rate = $XXXX/12= $XXXX monthly tax. $XXXX Gross rent / $XXXX PITIA= XXXX ratio. The ratio is still well below the 0.830 lender ratio. Provide explanation if this lower ratio is acceptable. - XXXX
The appraiser noted unter Tax mill/ Rate: "Property taxes have not been assessed as the subject is new construction. R.E. Taxes recorded on page one of the report are based on sale #XXXX ($XXXX). Per XXXX County records, the current tax rate for the subject tax district is XXXX (Tax District XXXX)." The higher taxes should be used as guidelines do not have specific rates to be used for new construction. Provide clarification or documentation that the lower 0.570 ratio is acceptable. - XXXX
The appraiser noted unter Tax mill/ Rate: "Property taxes have not been assessed as the subject is new construction. R.E. Taxes recorded on page one of the report are based on sale #XXXX ($XXXX). Per XXXX records, the current tax rate for the subject tax district is XXXX (Tax District XXXX)." The higher taxes should be used as guidelines do not have specific rates to be used for new construction. Provide clarification or documentation that the lower 0.570 ratio is acceptable. - XXXX

XXXX

Resolved

XXXX

4350115824

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

4 of 5

XXXX

Credit

W2 Is Missing Copy Type

All foreign national borrowers must complete IRS form W-8BEN. Missing complete W-8BEN.

Document Uploaded. - XXXX

The completed W-8BEN was received and fully executed by the borrower. - XXXX

XXXX

Resolved

XXXX

4350115824

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

5 of 5

XXXX

Credit

Borrower - Residency Alien Documentation

The borrower indicates Resident Alien status, however, the file contains no evidence documenting status as legally. Borrower is a Foreign National living in XXXX. XXXX passport on file. Per guidelines, To be eligible, the borrower must live and work in another country and be a legal resident of that same country. Missing XXXX valid passport.

The borrower is a legal resident of XXXX. Per the explanation provided, the borrower is only working in XXXX at this time and not a legal resident of XXXX. This is sufficient. - XXXX
Document Uploaded. - XXXX

The borrower is a legal resident of XXXX. Per the explanation provided, the borrower is only working in XXXX at this time and not a legal resident of XXXX. This is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115825

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 4

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115825

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 4

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115825

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 4

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary.

Hello - Our loans do not include an approval/UW summary. - XXXX

Executed Loan Agreement used in lieu of Loan Approval/1008. - XXXX

XXXX

Void

XXXX

4350115825

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 4

XXXX

Credit

Property Title Issue

Property title issue. Provide title supplement or final title policy to show items #XXXX Vendor's Lien for $XXXX, #XXXX Mechanic's Lien for $XXXX, and #XXXX Mechanic's Lien for $XXXX have been removed. No evidence was in the file to show the aforementioned liens were paid off and that the subject would be in first lien position.

Document Uploaded. - XXXX
Document Uploaded. Please see the attached. - XXXX

XXXX

Resolved

XXXX

4350115826

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

1 of 7

XXXX

Credit

Missing Business Purpose Affidavit

File is missing statement of business purpose. Unable to locate the business purpose and occupancy affidavit.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115826

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

2 of 7

XXXX

Credit

Borrower 2 Citizenship Documentation Not Provided

Borrower 2 Citizenship Documentation is missing. Unable to locate citizenship documentation for borrower 2. The file contains the extension documentation, but not the VISA as required per guidelines for H1B.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115826

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

3 of 7

XXXX

Credit

Final Settlement Statement Missing.

The final Settlement Statement document is missing. Unable to locate the Alta statement, closing disclosure or the HUD-1 statement.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX
Final HUD-1 Document is not missing or estimated only. - XXXX

XXXX

Resolved

XXXX

4350115826

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

4 of 7

XXXX

Credit

Fraud Report Shows Uncleared Alerts

There are uncleared alerts shown on the fraudguard. Fraud Report shows uncleared alerts.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX
All Fraud Report Alerts have been cleared or None Exist - XXXX

XXXX

Resolved

XXXX

4350115826

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

5 of 7

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115826

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

6 of 7

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115826

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

7 of 7

XXXX

Credit

Eligibility - Citizenship Requirements

The documented citizenship does not meet guideline requirements. The file contains an Employment Authorization card for Borrower 1, however per the guidelines a VISA is required with an EAD code XXXX.

Document Uploaded. - XXXX

Documentation provided is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115827

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

1 of 6

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350115827

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

2 of 6

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350115827

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

3 of 6

XXXX

Credit

Missing VOM or VOR

Document Uploaded.  - XXXX
Document Uploaded.  - XXXX
Document Uploaded.  - XXXX

vom has been received - XXXX
The mortgage statement for XXXX is missing. Please provide the mortgage statement along with tax/insurance/HOA statements if the loan is not escrowed. - XXXX

XXXX

Resolved

XXXX

4350115827

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

4 of 6

XXXX

Credit

Liabilities - REO

Document Uploaded. - XXXX

Per communication attached , "these should have been set up as BPLs, but we hadn’t made that distinction early on. We will promptly remove any prior credit reporting." Documentation is sufficient. - XXXX

XXXX

Resolved

XXXX

4350115827

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

5 of 6

XXXX

Credit

Final Settlement Statement Missing.

Document Uploaded. - XXXX
Document Uploaded. - XXXX

Dcoumentation has been received. - XXXX
The settlement statement for XXXX is still missing. - XXXX

XXXX

Resolved

XXXX

4350115827

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

6 of 6

XXXX

Credit

Corporation/LLC: Operating Agreement Doc is Missing

The loan file does not contain the Corporation/LLC: Operating Agreement. The operating agreement for XXXX is missing from the loan file.

Document Uploaded. - XXXX

The operating agreement for XXXX has been received. - XXXX

XXXX

Resolved