Exhibit 99.18

Loan Number

Loan ID

Finding #

Last Name

Note Date

DD Start Date

DD Delivery Date

Audit Category

Audit Issue

Finding ID

Exception Finding

Remediation Status

Exception Rebuttal

Exception Response

Status Comment

Compensating Factors

SOL Expiration Date

Initial Findings Grade

Final Findings Grade

Initial Loan Grade

Final Loan Grade

XXXX

2031425

1 of 6

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

There is no evidence the Borrower received The Notice of Right to Receive Copy of Appraisal within 3 business days from application. Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.14 Truth In Lending Act (Regulation Z) [HPML] 12 CFR 1026.35(a),(c). Informational only.

Acknowledged

XXXX

2031425

2 of 6

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument cannot be verified as accurate due to Title Commitment missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
please see title commitment

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031425

3 of 6

XXXX

XX/XX/XXXX

Credit

Credit Report - Alerts

XXXX

The credit report contains a fraud alert which has not been adequately addressed in the loan file. The guidelines require all Fraud Alerts must be properly addressed and resolved. The actions must be reasonable and compliant with applicable laws. An underwriting decision cannot be made without full resolution of the alert. The loan file was missing any evidence that the fraud alert had been adequately addressed.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Is the ask here a letter of explanation? this is the second loan we have done with this borrower.

Rebuttal 2 (XX/XX/XXXX XXXX)
processor cert attached

Response 1 (XX/XX/XXXX XXXX)
Processor to clear the alert by calling the borrower at number on the credit report. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031425

4 of 6

XXXX

XX/XX/XXXX

Credit

FEMA

XXXX

FEMA Search completed reflecting a declared disaster after appraisal date. FEMA Declaration declared XX/XX/XXXX for XXXX Severe Storms, Straight-Line Winds, Tornadoes, Flooding, Landslides, And Mudslides (DR-4864-XX) with an incident date of XX/XX/XXXX and continuing which is after original appraisal date XX/XX/XXXX. Please provide Property Inspection to confirm no damage for the address located at XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Post disaster inspection attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031425

5 of 6

XXXX

XX/XX/XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
title commitment attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031425

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX which support the appraised values.

Cleared

XXXX

2034753

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2034753

2 of 4

XXXX

XX/XX/XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
final app attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2034753

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The maximum LTV for a portfolio (crossed collateral) cash-out refinance with a qualifying credit score of XXX is XX%. The subject closed with an LTV of XX%, which exceeds the guidelines.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
XXXX approval attached.

Rebuttal 2 (XX/XX/XXXX XXXX)
Please see attached lock conformation.

Response 1 (XX/XX/XXXX XXXX)
The email chain provided does not specify that the Investor is granting an exception for the 75% LTV. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Exception for 75% LTV not specified. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Investor has approved to waive based on compensating factors. (Waived)

Comp factors - experienced investor and reserves of XXXX.

XXXX

2034753

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX and XX/XX/XXXX which support the appraised values. Further, a 2055 exterior additional appraisal was provided dated XX/XX/XXXX which supports the value.

Cleared

XXXX

2031424

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031424

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument is inconsistent with Title. The Security Instrument was vested in an Entity; however, Title reflects current vested interest as individuals. There is no evidence of a Transfer Deed in the loan file to support the change in vested interest.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
on page one of the prelim title commitment it states that it is "to be vested XXXX name of the borrower XXXX LLC"

Rebuttal 2 (XX/XX/XXXX XXXX)
Quit claim deed attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. There has to be a chain of title connecting those who are taking out the new deed with who was on title at the time the transaction took place. XXXX LLC did not have vested interest XXXX the property to be able to be on the new mortgage. A deed transferring ownership from the Individuals to the LLC is required. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031424

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031424

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037672

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037672

2 of 3

XXXX

XX/XX/XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The borrower was required to evidence XXXX in reserves. This is in addition to the required funds to close and earnest money deposit in the amount of XXXX. The borrower was required to evidence total funds for closing in the amount of XXXX. The loan file contained a bank statement which evidence available funds in the amount of $XXX. Therefore the borrower is short closing funds in the amount of XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
see attached, borrower did a C/O refi received funds and then did this purchase.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037672

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs dated XX/XX/XXXX and XX/XX/XXXX, which support the original appraised values.

Cleared

XXXX

2037677

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037677

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Appraisal Missing

XXXX

Missing required appraisal from file. Appraisal to be provided to include the rent schedule in order to determine market rent for accurate DSCR calculation. Noted, the file was reviewed as a prefund and the appraisal was included in that file for review. Full appraisal not provided post fund for review. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Doc provided.

Response 1 (XX/XX/XXXX XXXX)
Appraisal provided and market rent used validated. (Resolved)

XXXX

2037677

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CDA provided and supports original appraised value.

Cleared

XXXX

2037676

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037676

2 of 3

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The current hazard insurance policy on the subject property reflects the policy as a rental dwelling policy; however, is missing evidence of at least 6 months rent loss insurance. Rent loss insurance was provided at prefund review.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Doc provided.

Response 1 (XX/XX/XXXX XXXX)
Document provided as required. (Resolved)

XXXX

2037676

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037674

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037674

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037674

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037675

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037675

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037675

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037678

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037678

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037678

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037673

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037673

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037673

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037671

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider is missing: SFR Entity Borrower Rider

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037671

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037671

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037667

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The loan is a 30 year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2037667

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037667

3 of 3

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain a CDA to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
CDA provided.

Response 1 (XX/XX/XXXX XXXX)
CDA provided and supports original appraised value. (Resolved)

XXXX

2037669

1 of 5

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037669

2 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Lender exception provided to allow a prepayment penalty on a XXXX loan not closing in an Entity. Determined non-material based on compensating factors (waived).

Waived

Compensating factors: XXXX months reserves and extremely experienced investor.

XXXX

2037669

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Lender exception provided to allow the loan to close in a personal name. Determined non-material based on compensating factors (waived).

Waived

Compensating factors: 85 months reserves and extremely experienced investor.

XXXX

2037669

4 of 5

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. The file contained Quotes for both the Hazard Insurance policy and the Flood Insurance policy. The final policies with all required information, including the correct mortgagee clause, were not provided. Noted, comments on the Audit 1008 for the prefund review stated these final policies would be required at closing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
CDA attached

Response 1 (XX/XX/XXXX XXXX)
Polices for both the HOI and Flood provided as required. (Resolved)

XXXX

2037669

5 of 5

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain a CDA from XXX, XXXX Reconciliation Report, or AVM from XXXX to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
CDA attached

Response 1 (XX/XX/XXXX XXXX)
CDA provided and supports original appraised value. (Resolved)

XXXX

2037668

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider is missing: Business Loan Rider

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
see attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037668

2 of 3

XXXX

XX/XX/XXXX

Credit

Final Application - Missing

XXXX

The application is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
see attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037668

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037666

1 of 4

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2037666

2 of 4

XXXX

XX/XX/XXXX

Credit

Appraisal - Borrower Info

XXXX

The borrower's name on the appraisal XXXX does not match the borrowers listed on the loan XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Investor has approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Comp factors - XXXX is XXXX-owner of subject LLC but was removed as a guarantor. FICO XXX and reserves of XXXX.

XXXX

2037666

3 of 4

XXXX

XX/XX/XXXX

Credit

Assets - Other

XXXX

The loan file requires $XXXX in verified assets ($XXX funds to close plus $XXX reserves). The loan file contains documentation supporting $XXX in IRA accounts which are allowed per investor guidelines to be used for reserves only without liquidation. The loan file also contains a XXX #XXXX CK account in a business name with an access letter however Investor guidelines state if a business account is not in the same name as the borrowing entity the following requirements must be met: Natural borrower must have 25% or greater ownership of the entity and they must have an access letter. The documentation in the loan file indicates XXX is XX% owned by XXXX who is XX% owner of the borrowing entity but not a borrower on this loan. The loan file is short $XXXX in liquid funds to close.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Investor has approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Investor has approved to waive based on compensating factors. (Waived)

Comp factors - XXX is XXXX-owner of subject LLC but was removed as a guarantor. FICO XXX and reserves of XXXX.

XXXX

2037666

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037670

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037670

2 of 4

XXXX

XX/XX/XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
see attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037670

3 of 4

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
See attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037670

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037679

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider(s) / Legal Addendum(s) are missing: Business loan rider and the Business purpose and Environmental Rider.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037679

2 of 3

XXXX

XX/XX/XXXX

Credit

Condo - Liability Insurance

XXXX

The subject property is a Condominium, and the file does not contain evidence of sufficient Project Liability Insurance coverage. Per program guidelines all condo projects must carry a Master Insurance Policy that incorporates a minimum $XXXX General Liability policy. The loan file included a Master Insurance policy that only had building coverage and no Liability coverage. Additionally, the Master Insurance Policy reflects the borrower name as XXXX, however the borrowers name is XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Doc provided.

Response 1 (XX/XX/XXXX XXXX)
Updated master policy provided. (Resolved)

XXXX

2037679

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs dated XX/XX/XXXX, which support the original appraised values.

Cleared

XXXX

1916106

1 of 6

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

1916106

2 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Acknowledged

XXXX

1916106

3 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Appraisal Missing

XXXX

Missing required appraisal from file. The mortgage included a land only property with an address of XXXX; however, the loan file contained no valuation for this property.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Its a vacant parcel that we collateralized but gave no value to

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

1916106

4 of 6

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The property located at XXXX appears on the final HUD and title documentation as part of the blanket; however, does not appear on the subject mortgage as one of the listed properties. Confirmation of the properties included in the blanket is required. Additional documentation may be required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Per our legal team we believe that all parcels are properly recorded and searchable within the county land records. An affidavit should be able to suffice to correct the mistake, omitting the full address within page 2 and 3. Can you confirm if this proposal is acceptable before we draw up docs?

Rebuttal 2 (XX/XX/XXXX XXXX)
Re-recorded mtg

Response 1 (XX/XX/XXXX XXXX)
The correction will need to be recorded. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

1916106

5 of 6

XXXX

XX/XX/XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters for Property Type. The mortgage reflects a parcel ID of XXXX which according to the loan terms and commitment in the loan file, is a property located at XXX. This property also appears on the final HUD-1 settlement statement in the property list and an escrow reserve for taxes also appears on the HUD for the property. The title commitment reflects the same property as well. The loan terms sheet reflects that there is no partial release for this property. The loan file does not contain any other property report documentation as required. According to the plat map provided in the appraisal for the property located at XXXX, this property is next door and is vacant land. This property is land only and is not allowed per the guidelines.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Its a vacant parcel that we collateralized but gave no value to

Rebuttal 2 (XX/XX/XXXX XXXX)
re-recorded mtg

Rebuttal 3 (XX/XX/XXXX XXXX)
Please waive.

Response 1 (XX/XX/XXXX XXXX)
An exception is required. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Property is still referenced XXXX description section A of the mortgage. Please provide an Investor exception. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. Experienced Investor. XXX months of reserves.

XXXX

1916106

6 of 6

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at 2.5 or under to support the origination appraised value. The CDA for the property located at XXXX had a XX% variance.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The Deal structured using Lesser CDA value i,e XXXX

Response 1 (XX/XX/XXXX XXXX)
Used XXXX CDA to determine value. Finding downgraded to EV2. (Resolved)

XXXX

2031268

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031268

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Notary acknowledgment page on the loan agreement is not completed.

Acknowledged

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The Loan Agreement provided has not been executed by the lender on pg.16 of 16. (Acknowledged)

XXXX

2031268

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The subject property is vacant per the appraisal andthe loan file does not contain documentation supporting the property is currently leased as required per investor guidelines for a refinance transaction for a single family residence.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached Rehab & SLV

Rebuttal 2 (XX/XX/XXXX XXXX)
Investor exception granted.

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. XXXX DSCR. XXXX months of reserves.

XXXX

2031268

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2022595

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

The Notice of Right to Receive Copy of Appraisal, issued on XX/XX/XXXX was not disclosed within 3 days of the application date, XX/XX/XXXX. Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.14 Truth In Lending Act (Regulation Z) [HPML] 12 CFR 1026.35(a),(c) Informational Only.

Acknowledged

XXXX

2022595

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2022595

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2022595

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX which support the appraised values.

Cleared

XXXX

2022594

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2022594

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2022594

3 of 4

XXXX

XX/XX/XXXX

Credit

Appraisal - Borrower Info

XXXX

The borrower's name on the appraisal does not match other loan file documentation. The appraisal reflects a borrower name of XXXX, LLC. The note reflects a borrower name of XXXX, LLC.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Two appraisals with Borrower field updated to XXXX

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022594

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX and XX/XX/XXXX which support the appraised values.

Cleared

XXXX

2022589

1 of 6

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2022589

2 of 6

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2022589

3 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

Per the investor guidelines, appraisal must contain at least 3 comparable sales in the same zip code or within 1 mile of the subject property. Subject's appraisal contained 4 comparable sales with distance of comps ranging from X to X miles from the subject and all located in a different zip code than the subject property.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Appraiser confirmed on page 4 of the appraisal that there was a lack of recent sales XXXX the immediate area of XXXX, XXXX and had to expand his search to the neighboring town of XXXX, XXXX. The CDA also confirmed there was a lack of REO sales XXXX the village of XXXX on the top of page 2 of their report. Loan was also leveraged at 70 LTV when the borrower qualified for 75 given his FICO and experience.

Rebuttal 2 (XX/XX/XXXX XXXX)
Exception request attached

Rebuttal 3 (XX/XX/XXXX XXXX)
Investor has approved to waive.

Response 1 (XX/XX/XXXX XXXX)
An Investor exception will be required. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Awaiting Investor exception approval. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Comp factors - FICO XXX, reserves XXXX, DSCR XXXX and experienced investor.

XXXX

2022589

4 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines for XXXX LLC to include criminal and judgement searches.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
We were unable to pull XX on each entity because they did not have an EIN number attached to them because it is the disregarded structure. We got the XX on the primary entity to compensate. The current entity is solely owned by XXXX LLC, it was formed on XX/XX/XXXX, as a Disregarded Entity - Single Member LLC so the sub entities owned by it will not have their own EIN and report taxes through the parent company/owner onto their personal federal tax return. Both the XXX LLC have clean background checks and are XXXX good standing. Supporting information can be found here https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022589

5 of 6

XXXX

XX/XX/XXXX

Credit

Hazard Insurance deductible over allowed 5% of coverage amount.

XXXX

Deductible over the allowed X% of coverage amount. The Summary of Insurance coverage confirmed hazard insurance amount of insurance in the amount of $XXXX. The deductible was reported as $XXXX or as defined in the policy, which exceeds the maximum allowable of X%. The summary of insurance coverage confirmed all coverage amounts and other required information; however the full policy was not provided to determine if deductible was less than the $XXXX shown.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The borrower has a large master policy covering all of his rental loans under one umbrella policy. On each EOI provided by XXXX the hazard insurance master policy code is XXXX. He has millions of dollars XXXX coverage on this policy and would only need $XXXX XXXX coverage for the deductible to not breach the 5% threshold required by XXXX.

Rebuttal 2 (XX/XX/XXXX XXXX)
Master Insurance Policy attached

Response 1 (XX/XX/XXXX XXXX)
Please provide a copy of the master policy. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022589

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

1916056

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

1916056

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

1916056

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

According to guidelines the maximum LTV for a purchase transaction is XX%. The subject closed at XX% LTV which exceeds the maximum allowable.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please check the attached SLV doc

Rebuttal 2 (XX/XX/XXXX XXXX)
Loan was based off a XXXX purchase price, XXXX base +XX assignment. This gives an LTV of XXXX

Rebuttal 3 (XX/XX/XXXX XXXX)
Please waive.

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The CD reflects a XXXX price with assignment fees as costs. The loan was not set up to support a XXXX purchase price. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXXX score. Experienced Investor. XXXX DSCR.

XXXX

1916056

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2031269

1 of 6

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031269

2 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Acknowledged

XXXX

2031269

3 of 6

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The Title Commitment for XXXX, XXXX, and XXXX are missing and no transfer deeds were provided. The Vested Interest on the Security Instrument cannot be verified as accurate due to missing title commitments, it will require an executed Deeds showing the transfer in title.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
mtg

Rebuttal 2 (XX/XX/XXXX XXXX)
Attached TCOM

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The Mortgage has been provided. The Vested Interest on the Security Instrument cannot be verified as accurate due to missing title commitments, it will require an executed Deeds showing the transfer XXXX title. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031269

4 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The guidelines require valid Certificates of Formation (Articles of Organization / Incorporation). The Articles of Organization or formation are not present in the loan file for the borrowing entity XXXX, LLC.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please check attached

Rebuttal 2 (XX/XX/XXXX XXXX)
This is an exception for articles of organization not an address defect, please elaborate

Rebuttal 3 (XX/XX/XXXX XXXX)
Articles of Origination for Property Mavens

Response 1 (XX/XX/XXXX XXXX)
Name change received does not address defect. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The document received was not an Articles of Organization. It was a request for address change. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031269

5 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The Borrower's credit report reflects 3x30 mortgage late dated XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. The loan file is missing a letter of explanation from the Borrower as required per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
please check attached

Rebuttal 2 (XX/XX/XXXX XXXX)
LOX for XX and XX lates

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031269

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2022592

1 of 6

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2022592

2 of 6

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2022592

3 of 6

XXXX

XX/XX/XXXX

Credit

Credit Missing - One XXXX More Reports Missing

XXXX

The origination credit report was not provided as required. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Borrower credit report attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022592

4 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines for XXXX LLC to include criminal and judgement searches.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
We were unable to pull XX on each entity because they did not have an EIN number attached to them because it is the disregarded structure. We got the XX on the primary entity to compensate. The current entity is solely owned by XXXX LLC, it was formed on XX/XX/XXXX, as a Disregarded Entity - Single Member LLC so the sub entities owned by it will not have their own EIN and report taxes through the parent company/owner onto their personal federal tax return. Both the XXXX LLC have clean background checks and are XXXX good standing. Supporting information can be found here https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Resolved)

XXXX

2022592

5 of 6

XXXX

XX/XX/XXXX

Credit

Hazard Insurance deductible over allowed 5% of coverage amount.

XXXX

Deductible over the allowed 5% of coverage amount. The Summary of Insurance coverage confirmed hazard insurance amount of insurance in the amount of $XXXX. The deductible was reported as $XXXX or as defined in the policy, which exceeds the maximum allowable of 5%. The summary of insurance coverage confirmed all coverage amounts and other required information; however the full policy was not provided to determine if deductible was less than the $XXXX shown.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The borrower has a large master policy covering all of his rental loans under one umbrella policy. On each EOI provided by XXXX the hazard insurance master policy code is XXXX. He has millions of dollars XXXX coverage on this policy and would only need $XXXX XXXX coverage for the deductible to not breach the 5% threshold required by XX.

Rebuttal 2 (XX/XX/XXXX XXXX)
Master Insurance Policy attached

Response 1 (XX/XX/XXXX XXXX)
Please provide a copy of the master policy. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022592

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2022593

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2022593

2 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2022593

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines for XXXX LLC to include criminal and judgement searches.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
We were unable to pull XX on each entity because they did not have an EIN number attached to them because it is the disregarded structure. We got the XX on the primary entity to compensate. The current entity is solely owned by XXXX LLC, it was formed on XX/XX/XXXX, as a Disregarded Entity - Single Member LLC so the sub entities owned by it will not have their own EIN and report taxes through the parent company/owner onto their personal federal tax return. Both the XXXX LLC have clean background checks and are XXXX good standing. Supporting information can be found here https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Resolved)

XXXX

2022593

4 of 5

XXXX

XX/XX/XXXX

Credit

Hazard Insurance deductible over allowed 5% of coverage amount.

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The borrower has a large master policy covering all of his rental loans under one umbrella policy. On each EOI provided by XXXX the hazard insurance master policy code is XXXX. He has millions of dollars XXXX coverage on this policy and would only need $XXXX XXXX coverage for the deductible to not breach the 5% threshold required by XX.

Rebuttal 2 (XX/XX/XXXX XXXX)
Master Insurance Policy attached

Response 1 (XX/XX/XXXX XXXX)
Please provide a copy of the Master Policy. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022593

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2022591

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2022591

2 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2022591

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines for XXXX LLC to include criminal and judgement searches.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
We were unable to pull XX on each entity because they did not have an EIN number attached to them because it is the disregarded structure. We got the XX on the primary entity to compensate. The current entity is solely owned by XXXX LLC, it was formed on XX/XX/XXXX, as a Disregarded Entity - Single Member LLC so the sub entities owned by it will not have their own EIN and report taxes through the parent company/owner onto their personal federal tax return. Both the XXXX LLC have clean background checks and are XXXX good standing. Supporting information can be found here https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Resolved)

XXXX

2022591

4 of 5

XXXX

XX/XX/XXXX

Credit

Hazard Insurance deductible over allowed 5% of coverage amount.

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The borrower has a large master policy covering all of his rental loans under one umbrella policy. On each EOI provided by XXXX the hazard insurance master policy code is XXXX. He has millions of dollars XXXX coverage on this policy and would only need $XXXX XXXX coverage for the deductible to not breach the 5% threshold required by XX.

Rebuttal 2 (XX/XX/XXXX XXXX)
Master Insurance Policy attached

Response 1 (XX/XX/XXXX XXXX)
Please provide a copy of the Master Policy. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022591

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2022590

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2022590

2 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2022590

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines for XXXX LLC to include criminal and judgement searches.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
We were unable to pull XX on each entity because they did not have an EIN number attached to them because it is the disregarded structure. We got the XX on the primary entity to compensate. The current entity is solely owned by XXXX LLC, it was formed on XX/XX/XXXX, as a Disregarded Entity - Single Member LLC so the sub entities owned by it will not have their own EIN and report taxes through the parent company/owner onto their personal federal tax return. Both the XXXX LLC have clean background checks and are XXXX good standing. Supporting information can be found here https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Resolved)

XXXX

2022590

4 of 5

XXXX

XX/XX/XXXX

Credit

Hazard Insurance deductible over allowed 5% of coverage amount.

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The borrower has a large master policy covering all of his rental loans under one umbrella policy. On each EOI provided by XXXX the hazard insurance master policy code is XXXX. He has millions of dollars XXXX coverage on this policy and would only need $XXXX XXXX coverage for the deductible to not breach the 5% threshold required by XX.

Rebuttal 2 (XX/XX/XXXX XXXX)
Master Insurance Policy attached

Response 1 (XX/XX/XXXX XXXX)
Please provide a copy of the master policy. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2022590

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

1947953

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

1947953

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

1947953

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

Subject loan closed at an LTV of XX%. The maximum LTV on a cash out refinance was XX% and exceeded the max LTV per the guidelines.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
SLV request Doc attached

Rebuttal 2 (XX/XX/XXXX XXXX)
This loan is a rate term refi. Rate/terms are allowed to go up to 80%. This is not a cash out

Rebuttal 3 (XX/XX/XXXX XXXX)
This is the same thing that happened on XXXX. Same story.

Rebuttal 4 (XX/XX/XXXX XXXX)
Investor approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Line 1306 reflects a XXXX unsecured loan paid off with proceeds. This translates into cash back of XXXX. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Awaiting Investor exception. (Upheld)

Response 4 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Comp factors - FICO XXX, DSCR XXXX & experienced investor.

XXXX

1947953

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2031266

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031266

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Acknowledged

XXXX

2031266

3 of 5

XXXX

XX/XX/XXXX

Credit

Appraisal - Borrower Info

XXXX

The borrower's name on the appraisal does not match other loan file documentation. The appraisal for the property located at XXXX reflects a borrower name of XXXX, LLC. The note reflects a borrower name of XXXX, LLC.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Property was deeded over before closing after appraisal was completed. The guarantor owns both companies.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031266

4 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The Borrower's credit report reflects 3x30 mortgage late dated XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. The loan file is missing a letter of explanation from the Borrower as required per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please check attached

Rebuttal 2 (XX/XX/XXXX XXXX)
LOX for lates

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031266

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs dated XX/XX/XXXX - XX/XX/XXXX, which support the original appraised values.

Cleared

XXXX

2031267

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031267

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031267

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

According to guidelines the maximum LTV for a cash out refinance is XX%. The subject closed with an XX% LTV which exceeds to maximum allowable.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please check the attached SLV doc.

Rebuttal 2 (XX/XX/XXXX XXXX)
this is a rate/term and not a cash out; rate/terms are XXXX to 80%

Rebuttal 3 (XX/XX/XXXX XXXX)
I'm not seeing any cash out to the borrower, seeing they came to table with XXXX.

Rebuttal 4 (XX/XX/XXXX XXXX)
LOE provided explaining the XX and payoff provided paying the loan off.

Rebuttal 5 (XX/XX/XXXX XXXX)
Client approved request to waive.

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
It was cash-out. XXXX XXXX proceeds was used to pay off an unsecured loan to XXXX LLC. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Please see line 1303 on the HUD. XXXX unsecured paid to XXXX LLC. This appears to be cash-out. (Upheld)

Response 4 (XX/XX/XXXX XXXX)
Client approved request to waive based on compensating factors. (Waived)

Comp factors - FICO XXX, reserves XXXX, DSCR XXXX and experienced investor.

XXXX

2031267

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2031265

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031265

2 of 3

XXXX

XX/XX/XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

According to guidelines all refinance transactions require both a payoff letter and pay history. The payoff is provided; however, no pay history was provided in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
pay history

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031265

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2031259

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031259

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031259

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the validation document for borrower entity: XXXX, LLC. The Certificate of Formation/Articles of Organization is missing. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031259

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031264

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031264

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031264

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2031262

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031262

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031262

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031262

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2007294

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2007294

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2007294

3 of 3

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at 2.5 or under to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached field review

Rebuttal 2 (XX/XX/XXXX XXXX)
field review attached

Response 1 (XX/XX/XXXX XXXX)
Documentation not received. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031263

1 of 10

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031263

2 of 10

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The loan agreement is not signed by the lender.

Acknowledged

XXXX

2031263

3 of 10

XXXX

XX/XX/XXXX

Credit

Appraisal - Borrower Info

XXXX

The borrower's name on the appraisal does not match other loan file documentation. The appraisal reflects a borrower name of XXXX. The note reflects a borrower name of XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The loan documents were donecorrectly at the time that the loans were closed. At the time these loanswere closed, XXXX, XXXX and XXXX were members,but only XXXX was the manager. As the manager, under the OperatingAgreement, he was the proper person to execute the loan documents on behalf ofthe entity. Under our guidelines, he was not required to guarantee theloan and, therefore, did not. XXXX signed the guaranty asthe majority member.

Response 1 (XX/XX/XXXX XXXX)
Upon further review,according to the correspondent guidelines a Guarantor must own at least 51% ofthe entity and XXXX this case, it was XX that signed the guaranty agreementrequired by GL’s. The operating agreement states the manager has the authority tomanage business and affairs. They are the only ones authorized to sign onbehalf of the entity. GL’s state the Guarantor needs to qualify and the operatingagreement states only the manager can sign the legal documents and this is whatoccurred. (Resolved)

XXXX

2031263

4 of 10

XXXX

XX/XX/XXXX

Credit

Borrower - Identification

XXXX

The photo identification for XXXX, whom signed the note, is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The loan documents were done correctly at the time that the loans were closed. At the time these loanswere closed, XXXX, XXXX and XXXX were members,but only XXXX was the manager. As the manager, under the Operating Agreement, he was the proper person to execute the loan documents on behalf ofthe entity. Under our guidelines, he was not required to guarantee theloan and, therefore, did not. XXXX signed the guaranty asthe majority member.

Response 1 (XX/XX/XXXX XXXX)
Upon further review,according to the correspondent guidelines a Guarantor must own at least 51% ofthe entity and XXXX this case, it was XXXX that signed the guaranty agreementrequired by GL’s. The operating agreement states the manager has the authority tomanage business and affairs. They are the only ones authorized to sign onbehalf of the entity. GL’s state the Guarantor needs to qualify and the operatingagreement states only the manager can sign the legal documents and this is whatoccurred. (Resolved)

XXXX

2031263

5 of 10

XXXX

XX/XX/XXXX

Credit

Credit - OFAC Screening

XXXX

The loan file does not contain evidence the Borrower, XXXX, whom signed the note, passed the OFAC screening process.

Resolved

XXXX

2031263

6 of 10

XXXX

XX/XX/XXXX

Credit

Credit Missing - One XXXX More Reports Missing

XXXX

Not all required credit reports are within the file. The credit report for XXXX, whom signed the note, is missing from the loan file.

Resolved

XXXX

2031263

7 of 10

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background check and lien and judgment search for XXXX, whom signed the note, is missing from the loan file.

Resolved

XXXX

2031263

8 of 10

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The Guaranty signed by the Borrower XXXX, manager of the entity whom signed the note, is missing from the loan file.

Resolved

XXXX

2031263

9 of 10

XXXX

XX/XX/XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing for the borrower XXXX, whom signed the note.

Resolved

XXXX

2031263

10 of 10

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031260

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031260

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2031260

3 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The date that the borrower executed the mortgage was not reflected on page 14 of the security instrument.

XXXX

2031260

4 of 5

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031260

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2031255

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031255

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: Page 1 of the Note was missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031255

3 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2031255

4 of 5

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031255

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2031261

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031261

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2031261

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The guidelines indicate the Guarantor background report must be dated within 90 days of the loan’s closing date. The XXXX Background Report in file for the Guarantor is dated XX/XX/XXXX which is 205 days from the XX/XX/XXXX Note Date.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031261

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2031258

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031258

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The loan agreement is not signed by the lender.

Acknowledged

XXXX

2031258

3 of 5

XXXX

XX/XX/XXXX

Credit

Assets - Large Deposits/Unacceptable

XXXX

Guidelines define a large deposit as more than XX% of the monthly average deposit balance which exceeds $XXXX must be sourced. The XXXX business asset XXX XX/XX/XXXX reflects recent large deposits which were not sourced and/or documented as follows: (1) XX/XX/XXXX in the amount of $XXXX with description XXXX (2) XX/XX/XXXX in the amount of $XXXX originating name XXXX Bank (3) XX/XX/XXXX in the amount of $XXXX originating name XXXX Bank (4) XX/XX/XXXX in the amount of $XXXX originating name XXXX Bank, and (5) XX/XX/XXXX in the amount of $XXXX remote online deposit. Total verified assets with XXXX business asset XXXX and business savings asset XXXX $XXXX. Total required assets $XXXX (funds to close $XXXX plus 9 months reserves on the subject $XXXX). Reduction in assets by the large deposits results in a funds to close/reserve shortage.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please waive this exception on compensating factors.

Rebuttal 2 (XX/XX/XXXX XXXX)
LOX for large deposits

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031258

4 of 5

XXXX

XX/XX/XXXX

Credit

Sales Contract - Missing/Incomplete

XXXX

The Settlement Statement reflects a seller credit of $XXXX not reflected in the purchase contract or otherwise in the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Addendum w/ seller credits

Rebuttal 2 (XX/XX/XXXX XXXX)
LOX regarding the XXXX

Response 1 (XX/XX/XXXX XXXX)
Addendum provided does not belong to the transaction. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031258

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031256

1 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: Page 4 of the Note is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Note

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031256

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2031256

3 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Pages 10 and 11 of the Mortgage are missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Deed

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031256

4 of 5

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031256

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2031252

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031252

2 of 3

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The mortgagee clause on the homeowner's insurance was not updated to reflect the current transaction/lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Updated HOI

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031252

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031254

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031254

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2031254

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Subject transaction is a refinance of a SFR property. Per the guidelines for refinance transactions, the property must be leased at time of closing unless newly renovated. The appraiser indicates subject property has been remodeled and is occupied by a tenant, however, did not indicate the monthly rent. The file is missing a lease agreement for current tenants. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached SLV

Rebuttal 2 (XX/XX/XXXX XXXX)
Investor approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Comp factors - FICO XXX, Reserves XXXX and experienced investor.

XXXX

2031254

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2031253

1 of 5

XXXX

XX/XX/XXXX

Compliance

HUD1 - Missing (All)

XXXX

There is no evidence of a HUD-1 Settlement Statement provided in the loan file. As a result the following reviews could not be performed: Federal Threshold, State Threshold, and final HUD-1 accuracy.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031253

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following sections of the Note are incomplete: The Note was not fully executed by the notary. Additionally, page 5 of the Note did not reflect the date that the borrower executed the document.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031253

3 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2031253

4 of 5

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031253

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031250

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031250

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031250

3 of 5

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The subject appraisal was completed "As Is" with no repairs noted. However, a review of the photographs provided by the appraiser reflected standing water in the unfinished basement. The appraiser did not provide any comments regarding the leak. In addition, the loan file did not contain an inspection or other documentation reflecting the issue had been resolved.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Pics of basement and gutters/drainage added. Property did not have gutters at the time of purchase. Gutters and drainage have been added to take the water away from the house.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031250

4 of 5

XXXX

XX/XX/XXXX

Credit

Credit Missing - One XXXX More Reports Missing

XXXX

The loan file did not contain the required credit report. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached Credit Report

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031250

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031251

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031251

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031251

3 of 4

XXXX

XX/XX/XXXX

Credit

Assets - Large Deposits/Unacceptable

XXXX

The guidelines indicate any Large Deposits, defined as any deposit representing more than XX% of the monthly average deposit balance which exceeds $XXXX, must be sourced/evaluated. The asset statements provided reflect an unsourced Large Deposit on XX/XX/XXXX (transfer from unsourced account) in the amount of $XXXX and $XXXX (transfer from unsourced account) on XX/XX/XXXX. Deducting these deposits would leave the borrower with no verified assets resulting in a total asset shortage of $XXX ($XXXX cash to close and reserves of $XXXX).

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached LOX

Rebuttal 2 (XX/XX/XXXX XXXX)
Settlement statement and entity docs

Response 1 (XX/XX/XXXX XXXX)
Settlement Statement and Entity Documents as referenced were not attached. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031251

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2031249

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031249

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Legal Description (Exhibit A)

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
MTG

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031249

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031249

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031247

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031247

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: Missing page 16 of the Loan Agreement.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2031247

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031247

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031248

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031248

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2031248

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031248

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2031246

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031246

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Acknowledged

XXXX

2031246

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. No more than one unit of a 2-unit or 3-unit property may be vacant at origination. The subject property located at XXXX is a XXXX unit property and both units are vacant.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached SLV

Rebuttal 2 (XX/XX/XXXX XXXX)
Investor has approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Exception must be granted by Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Comp factors - FICO XXX. Reserves XXXX, DSCR XXXX and experienced investor.

XXXX

2031246

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX and XX/XX/XXXX which supports the appraised values.

Cleared

XXXX

1695941

1 of 7

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XX% and the calculated APR XX%, the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Cleared

XXXX

1695941

2 of 7

XXXX

XX/XX/XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within 3 days of the change, the increase to the following fees was not accepted as valid: Points increased on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Response 1 (XX/XX/XXXX XXXX)
The loan reviewed contains a note dated more than 12 months old, outside the applicable statute of limitations.

XXXX

1695941

3 of 7

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

According to guidelines all appraisals must be ordered through an approved XXXX. The subject appraisal was not ordered through an XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please waive this condition.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: XXXX% DTI vs max 50% DTI; 10 months reserves vs 6 months required; 40 years at present address

XXXX

1695941

4 of 7

XXXX

XX/XX/XXXX

Credit

Income - Pay Stubs Missing

XXXX

Borrower is self-employed and also receives self-employed wage income. A YTD paystub is required per the guidelines and was not provided.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Documents attached

Response 1 (XX/XX/XXXX XXXX)
Still missing YTD paystub. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Investor request to waive based on compensating factors. (Waived)

Comp factors - Low DTI of XXXX%, LTV under 80% at XXXX% and reserves of XXXX.

XXXX

1695941

5 of 7

XXXX

XX/XX/XXXX

Credit

Income - Tax Return Documentation Incomplete

XXXX

The XXXX tax return extensions for 1040s, 1120, and 1065 not provided. An exception provided in the file. Waive extensions - alt doc/used XXXX income to qualify.

Waived

Compensating factors: XXXX% DTI vs max 50% DTI; 10 months reserves vs 6 months required; 40 years at present address

XXXX

1695941

6 of 7

XXXX

XX/XX/XXXX

Credit

Income - Tax Transcripts Missing

XXXX

Borrower is self-employed. Tax Transcripts were not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Tax Transcripts attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

1695941

7 of 7

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

1906251

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

1906251

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Appraisal Missing

XXXX

The appraisal reflecting a value of $XXXX with a comparable rent schedule supporting market rents of $XXXX was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

1906251

3 of 3

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at 2.5 or under to support the origination appraised value. A CDA and Field review were provided and do not support original appraised value of $XXXX. Appraisal also was not in file. Tape reflects the value of the Field Review for $XXXX is being used but guidelines do not speak to that being allowed.

Upheld

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Rebuttal 2 (XX/XX/XXXX XXXX)
Please note, per our Final Loan Approval, As-is value is supposed to be XXXX. XX% LTV

Response 1 (XX/XX/XXXX XXXX)
Field Review of XXXX does not support the XXXX appraised value within 10%. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Securitizations require that the CDA support the appraised value. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Upon Senior Management review, for the lower of the valuation value to be used for LTV purposes it has to state this XXXX the guidelines per the rating agencies. If so, then would be graded an EV2. Client guidelines do not speak to using the lower of the valuation product value over the original appraisal when valuation does not support original appraisal. Remains Upheld. (Upheld)

XXXX

2024116

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Name Discrepancy

XXXX

The Entity Name is missing above and/or within the signature line on the Note and Note addendum-Prepayment Penalty.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Corrected Note

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024116

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow borrower to proceed with purchase of subject property with having deed restrictions, it does not prevent foreclosures or resale in the event of foreclosure. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, five years at present address, excess reserves XXXX. plus.

XXXX

2024116

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027292

1 of 3

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2027292

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027292

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2027291

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027291

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027291

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 2.5.

Cleared

XXXX

2027293

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027293

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027293

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

1989443

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

1989443

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The Notary Acknowledgment was not completed.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The commissioner of the court does not have an end date. Please see another commissioner deed that was completed with no end date listed

Rebuttal 2 (XX/XX/XXXX XXXX)
Notary pg. uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The Notary section of the Mortgage is missing the day, month , and year the borrower personally appeared before the Notary. Please provide an updated Mortgage with the date of who appeared before the Notary initialed by the Notary XXXX a Scriveners Affidavit. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The notary page provided has been updated to disclose the date the notarization took place; however, the updates have not been initialed by the Notary. Please provide the Mortgage with the updates to the Notary section initialed by the notary. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

1989443

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

1989443

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024115

1 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024115

2 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

All guarantors are required to provide 1) limited application that includes name, address, date of birth, social security number, and citizenship, 2) authorization for credit report and 3) background check. The loan file is missing the required documentation for the non-borrowing guarantor XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
guarantor docs

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024115

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow investor concentration at XX% which is XX% over the maximum allowable concentration of XX%. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%, borrower has 3 investment properties.

XXXX

2024115

4 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow a condo conversion. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%, borrower has 3 investment properties.

XXXX

2024115

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024113

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024113

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender Exception provided to proceed with borrower living rent free and unable to verify two months rent. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX, Cash Back greater than XXXX months reserves excess.

XXXX

2024113

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024118

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024118

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024118

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

1998372

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement is missing pages 3 and 4.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
loan agreement

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

1998372

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

1998372

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lender provided an exception to allow for a mixed use property. Considered non-material based on compensating factors (waived).

Waived

Compensating factors: Experienced investor, XXXXmos reserves

XXXX

1998372

4 of 4

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at 2.5 or under to support the origination appraised value. Secondary valuation product was not present in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Rebuttal 2 (XX/XX/XXXX XXXX)
Commercial Appraisal Clerical Review

Rebuttal 3 (XX/XX/XXXX XXXX)
CDA provided.

Response 1 (XX/XX/XXXX XXXX)
Due to securitization requirements, an exception cannot be applied. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
CDA provided and supports original appraised value. (Resolved)

XXXX

2020207

1 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however it should be Conventional. Truth in Lending Act (Regulation Z) 12 CFR 1026.38(a)(5)(iv)

Acknowledged

XXXX

2020207

2 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2020207

3 of 4

XXXX

XX/XX/XXXX

Credit

Assets - Minimum Reserves

XXXX

The subject is a purchase with a loan amount of $XXXX. Guidelines state 12 months reserves are required for all loans over $XXXX. The borrower has only 10 months cash reserves. A lender Exception was provided for the insufficient cash reserves. Determined non-material based on compensating factors. (waived)

Waived

Compensating Factors: Borrower has a XXX credit score. The LTV is XX%. Borrower has over $XXXX XXXX residual income.

XXXX

2020207

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a full second appraisal, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2029621

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029621

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029621

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029624

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029624

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029624

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2033570

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033570

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033570

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024114

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024114

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024114

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2029623

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029623

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029623

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2033573

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033573

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033573

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029622

1 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029622

2 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required entity background search for the entity, XXXX, LLC, to include liens and judgments search. Additional conditions may apply..

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached is the background check for XXXX

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029622

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to move forward with the current parcel ID that matches the other XXXX properties for this borrower. Determined non- material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXXX, fico score 40 points greater than minimum fico score, LTV is 10% less than maximum LTV, experienced investor.

XXXX

2029622

4 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan filecontains a lender exception to move forward with sub 1.0 DSCR with properties being vacant. Brand new builds with construction just completed. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXXX, fico score 40 points greater than minimum fico score, LTV is 10% less than maximum LTV, experienced investor.

XXXX

2029622

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033571

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033571

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033571

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which did not support the original appraised value within -10%. Client used the lower value of the CDA for LTV/CLTV purposes which is allowed per their guidelines and rating agencies require this to be graded an EV2.

Cleared

XXXX

2024117

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2024117

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024117

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029626

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029626

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The file contains a lender exception to move forward with current parcel ID matching other XXXX properties for this borrower. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX, LTV of XX% being 5% less than max LTV,

XXXX

2029626

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The file contains a lender exception to proceed with DSCR <1 with property being vacant, new construction just completed. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX, LTV of X% being 5% less than max LTV,

XXXX

2029626

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDA which supports appraised value.

Cleared

XXXX

2029627

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029627

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029627

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2020311

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2020311

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Missing required 1004 D

XXXX

The loan file is missing the required 1004 to validate that the required repairs have been made.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached 1004.

Rebuttal 2 (XX/XX/XXXX XXXX)
Please see attached exception.

Rebuttal 3 (XX/XX/XXXX XXXX)
Client request to waive.

Response 1 (XX/XX/XXXX XXXX)
The Certification of Completion section is blank and repair photos were not provided. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Client request to waive based on compensating factors. (Waived)

Comp factors - FICO XXX. reserves $XXXX, XXXX year credit history and no late pays & LTV XXXX%. Repairs minor and did not affect value.

XXXX

2020311

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024119

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024119

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024119

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024128

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024128

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024128

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024131

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024131

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow for two (2) months’ reserves. XX guidelines require six (6) months’ reserves with DSCR ratio over 1. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024131

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024131

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024134

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024134

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024134

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024135

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024135

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024135

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024132

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024132

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024132

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024129

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024129

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024129

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan flie contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024133

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: Missing the loan agreement.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
See attached for review

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024133

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024133

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value

Cleared

XXXX

2024130

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024130

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024130

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024144

1 of 4

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2024144

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2024144

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024144

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024146

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024146

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024146

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024148

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024148

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow for two (2) months reserves. XXXX guidelines state six (6) months required. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024148

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024148

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024149

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024149

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024149

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024147

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024147

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024147

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024151

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024151

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024151

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024145

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024145

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow two (2) months reserves. XXXX guidelines require six (6) months required with raio over 1. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024145

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title-dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024145

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024150

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024150

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow borrower that lives within 25 miles of subject and currently renting (waived).

Waived

Compensating factors: XXX FICO, excess reserves

XXXX

2024150

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2024153

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024153

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow for two (2) months’ reserves. XXXX guidelines state six (6) months required. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024153

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024153

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan flie contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024157

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024157

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file has a lender exception to allow gap for the title expiring, title dated XX/XX/XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Fico score XXX, DSCR XXXX%. years at present address 4, borrower has the same employment for five + years.

XXXX

2024157

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024158

1 of 5

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2024158

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024158

3 of 5

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The appraisal SSR's are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024158

4 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The background check for XXXX is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024158

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2029629

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029629

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029629

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024159

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024159

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024159

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033572

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan agreement addendum is missing the lenders signature.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033572

2 of 3

XXXX

XX/XX/XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached flood cert.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033572

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029628

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029628

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required entity background search for the entity, XXXX, A protected Series of XXXXX LLC, to include liens and judgments search. Additional conditions may apply..

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
background

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029628

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Waived

Compensating Factors: Fico score XXXX, fico score 40 points greater than minimum fico score, LTV is 10% less than maximum LTV, experienced investor

XXXX

2029628

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024160

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024160

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024160

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2033575

1 of 8

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033575

2 of 8

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

Per the guidelines, SSRs are required for non-transferred appraisals. The file is missing the required documentation.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
SSR

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033575

3 of 8

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Per the guidelines, a background search including a liens and judgments search is required on the entity. The file is missing the required documentation for XXXX LLC reflected on the Note as a borrower.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
background

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033575

4 of 8

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see the attached guarantor docs for XXXX.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033575

5 of 8

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception for modification to entity's ownership structure after the initial application date. Determined non-material based on compensating factors (waived).

Waived

XXX score. XXX DSCR. Experienced Investor.

XXXX

2033575

6 of 8

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

Per the guidelines, liability coverage in the minimum amount of $XXXX is required. The hazard policy reflects only $XXXX of liability coverage.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
dwelling liability coverage is XXXX we are good on coverage. replacement cost also attached to show we have enough coverage.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033575

7 of 8

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

Subject loan is for a cash-out refinance. The appraisal and CDA reflect a value of $XXXX. The lender used a value of $XXXX, however, the file does not contain documentation to support the higher value. Using the appraised value, the LTV is XX% which exceeds the maximum allowed of XX% per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXX score. XXX DSCR. Experienced Investor.

XXXX

2033575

8 of 8

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2024178

1 of 5

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XX% and the calculated APR XX%, the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was: XX/XX/XXXX The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2024178

2 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

Acknowledged

XXXX

2024178

3 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report Fee paid to the Broker. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2024178

4 of 5

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Lender's Exception - Lender allowed the appraisal to be accepted without having the AMC company not approved by the Lender. Compensating factors deems as non-material. (waived)

Waived

Compensating factors - XXX months reserves, XXXX years self-employed, XXX mid score

XXXX

2024178

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2020206

1 of 3

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2020206

2 of 3

XXXX

XX/XX/XXXX

Credit

Assets - Minimum Reserves

XXXX

The subject loan amount is $XXXX. Guidelines state 12 months reserves are required for loan amounts of over $XXXX. The borrower has 7.4 months reserves. A lender Exception was provided for the insufficient cash reserves. Determined non-material based on compensating factors. (waived)

Waived

Compensating Factors: The LTV is XXXX%. The borrowers have $XX XXXX residual income.

XXXX

2020206

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a full appraisal, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024155

1 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing the lenders signature and information.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024155

2 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The loan file is missing the XXXX SSRs.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
SSRs and supporting documents

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024155

3 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the background check for the entity, XXXX, LLC.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Entity UCC search

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024155

4 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender Exception provided for less than 12 month history of owning a vacation rental. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICOs XXX/XXX, Long Term Rental experience

XXXX

2024155

5 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender Exception provided for modification to an entity's structure after the application date. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICOs XXX/XXX, Experienced Investor, 12+ months reserves

XXXX

2024155

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2024156

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement and exhibit A were missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
Please see the attached Agreement with Exhibits

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The lender executed pg. 12 of the loan agreement has been provided; however, the borrower executed loan agreement and exhibit A to the agreement are missing. Please provide complete loan agreement for review. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024156

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: 1) A limited application that includes their name, address, date of birth, social security number, and citizenship and 2) An authorization to obtain a credit report and background. The file is missing the required documentation for XXXX (50% ownership of LLC).

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached are the guarantor docs for XXXX

Rebuttal 2 (XX/XX/XXXX XXXX)
Attached is the No Hit for XXXX

Response 1 (XX/XX/XXXX XXXX)
Still missing lien/judgement search for XXXX. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024156

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The file contains a lender exception to allow XX% LTV with XX% investor concentration and proceed with HOA questionnaire as is. Determined non-material based on compensating factors (waived).

Waived

Compensating Factor: FICO XXX, assets exceed required reserves by 6+ months, borrower has lived XXXX primary for 5+ years

XXXX

2024156

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024154

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing the lenders signature and information.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024154

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024154

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2033574

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033574

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow 95 days for credit report. XXXX Guidelines credit report only good for 90 days. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: DSCR XXXX%, borrower has investment experience as she currently owns two investment properties for over 3 years and over $XXX XXXX excess reserves.

XXXX

2033574

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow borrower to purchase investment property within 25 miles of their primary (rental) allow 10 months canceled checks. XXXX guidelines borrower to have history of owning 1 rental property within 25 miles of home when they do not own primary 12 months cancelled checks. Determined non-material based on compensating factors (waived).

Waived

Compensating factors: DSCR XXXX%, borrower has investment experience she currently owns two investment properties for over 3 years and over $XXX XXXX excess reserves.

XXXX

2033574

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033576

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033576

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider is missing: Page 1 of the PUD rider is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033576

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow the borrower to purchase an investment property within 25 miles of their primary (rental) allow 10 months cancelled checks. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: DSCR XXXX% excess reserves $XXX, borrower has investment experience as she currently owns two investment properties for over 3 years.

XXXX

2033576

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2020317

1 of 7

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Non-Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XX% and the calculated APR XX%, the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was: XX/XX/XXXX. The loan is a non-compliant HPML. Appraisal requirements have not been met.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
proof of delivery

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2020317

2 of 7

XXXX

XX/XX/XXXX

Compliance

State HPML

XXXX

This loan failed the XX AB 260 higher-priced mortgage loan test. (XX AB 260, XXXX Financial Code Division 1.9 4995(a)). Using the greater of the disclosed APR XX% and the calculated APR XX%, the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was: XX/XX/XXXX. The loan is a non-compliant HPML. Appraisal requirements have not been met.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
app delivery proof

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2020317

3 of 7

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

Acknowledged

XXXX

2020317

4 of 7

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2020317

5 of 7

XXXX

XX/XX/XXXX

Credit

Income - Miscalculated/DTI Exceeds Tolerance

XXXX

The loan was approved with monthly income of $XXXX and a DTI of XX%. The guidelines state the 12 month bank statement program is subject to an expense factor. The lender stated no expense factor was used. Utilizing the required XX% expense decreases the monthly income to $XXXX and increases the DTI to an excessive XX%.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Subject file was reviewed as Business Bank statement loan and should be Personal Bank statements therefore expense factor does not apply.

Response 1 (XX/XX/XXXX XXXX)
Upon further review subject loan income has been recalculated using the personal bank statements and DTI is XXXX% and within guidelines. (Void)

XXXX

2020317

6 of 7

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

The guidelines state the 12 months bank statement program requires 2 years of self-employment. The borrower has only been self employed for 15 months. A lender exception was provided to allow for the missing 2 years self-employment history. Due to a miscalculation of income, the DTI increased from XX%, to XX%. The exception is invalid.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception for work history.

Response 1 (XX/XX/XXXX XXXX)
Income has been recalculated using personal bank statements and DTI is within guidelines therefore Lender Exception is valid. (Waived)

Compensating Factors: Borrower living XXXX subject for XXXX years. Borrower had a verified DTI of XXXX%.

XXXX

2020317

7 of 7

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024161

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024161

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024161

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024167

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024167

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024167

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024164

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024164

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024164

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value

Cleared

XXXX

2024168

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024168

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024168

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024165

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2024165

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Loan Agreement is not signed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024165

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, SSRs are required. The file is missing the required documentation.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024165

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029630

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
page 12 of XXXX

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. Pg. 11 of the loan agreement has been provided; however, the lender executed pg. 12 of the loan agreement has not been provided. Please provide executed Loan Agreement for review. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029630

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per guidelines if the appraisal is in XXXX LLC's name the XXXX, and XXXX SSR's are required, regardless of property type but the reports are not in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ssr

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029630

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024163

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement addendum is missing the lenders signature.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024163

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024163

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024162

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024162

2 of 4

XXXX

XX/XX/XXXX

Credit

Assets - Minimum Reserves

XXXX

A total of $XXXX is required to be verified in reserves. The loan file contains asset documentation confirming $XXXX in assets. The borrower is short reserves by $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
We used proceeds from cashout for reseves.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024162

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the Certificate of Good Standing. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024162

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024169

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024169

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains an exception for 1st time investor to purchase STR. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: DSCR greater than XXXX, LTV 5% less than max LTV, Assets exceed 11 mons reserves

XXXX

2024169

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains an exception for a XXX to purchase a STR, XXX minimum required. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: DSCR greater than XXXX, LTV 5% less than max LTV, Assets exceed 11 mons reserves

XXXX

2024169

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029619

1 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD/Payee Not Listed

XXXX

The loan contains the following fee or fees where 'compensation to' does not reflect a Payee on the revised CD issued XX/XX/XXXX.

Acknowledged

XXXX

2029619

2 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

The loan failed the Initial Closing Disclosure delivery date test due to the following: The Initial Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
CD issued on XX/XX/XXXX uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029619

3 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Appraisal Fee, Transfer Taxes, and Administrative fees on the CD issued XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 3 (XX/XX/XXXX XXXX)
See attached COC provided by client

Rebuttal 4 (XX/XX/XXXX XXXX)
See Attached documentation for cure

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The Initial CD issued on XX/XX/XXXX has been provided and updated testing results XXXX a 0% tolerance violation. The following fees changed on the CD issued XXXX XX/XX/XXXX without a valid COC. Therefore, the increase to the following fees was not accepted: Appraisal Fee and Transfer Taxes on the CD issued XX/XX/XXXX. A cost to cure XXXX the amount of XXXX is required. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. A CD issued on XX/XX/XXXX has been provided and a COC issued on XX/XX/XXXX. The COC is not considered valid without more details. The COC for the increased Appraisal fee does not say why the Appraisal fee increase, please say what caused the fee to increase to determine if it is a valid reason. The COC also says Title Fees increased. The CD issued on XX/XX/XXXX discloses the addition of Transfer Taxes; however, the Purchase Contract was signed by the Borrower on XX/XX/XXXX and lender should have known at time of application on XX/XX/XXXX that Transfer Taxes were to be paid by Buyer and disclosed on the LE issued on XX/XX/XXXX. A cost to cure XXXX the amount of XXXX is required. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029619

4 of 5

XXXX

XX/XX/XXXX

Credit

Program Parameters - Property Type

XXXX

The appraisal state the subject property is a XXXX acre rural property. The guidelines state rural property with over 10 acres are ineligible. A lender exception was provided to allow for the rural property and excessive acreage. Determined non-material based on compensating factors. (Waived)

Waived

Compensating Factors: Borrowers have an XXX credit score. LTV XX%. Borrower has more than 12 months reserves.

XXXX

2029619

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024172

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024172

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception for a purchase from a family member, guides require full doc only, exception to go DSCR. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: XXX FICO w/ 15+ yr credit history. 12 months reserves, DSCR greater than XXXX

XXXX

2024172

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains an exception for the purchase of a rural property on DSCR which is full doc only per guidelines. Determined non-material based on compensating factors (waived),

Waived

Compensating Factors: XXX FICO w/ 15+ yr credit history. 12 months reserves, DSCR greater than XXXX

XXXX

2024172

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024171

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024171

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024171

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033578

1 of 4

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the Settlement statement provided in the loan file was the FINAL binding Settlement statement, as it was not signed, stamped or certified. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A.

Acknowledged

XXXX

2033578

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033578

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033578

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2037711

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing the lenders signature.

Acknowledged

XXXX

2037711

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required XXXX and XXXX SSR's per XXXX guidelines. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached is the SSR report

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037711

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024175

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024175

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Missing required 1004 D

XXXX

Missing required 1004D to validate required repairs have been completed.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached are pics and LOE showing proof of stove working

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024175

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2029631

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029631

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guidelines require all cash out refinance transactions with an LTV greater than 70% to have a completed ACH form. Subject closed at 75% LTV and no completed ACH form was provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029631

3 of 4

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

According to guidelines liability coverage equal to $XXXX is required. The hazard policy provided for our review does not reflect liability coverage.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please note the liability coverage is at XXXX

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029631

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2029632

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029632

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The required appraisal SSR's are not in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
SSR

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029632

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033577

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033577

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033577

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2037712

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037712

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037712

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024173

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024173

2 of 4

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The loan file is missing the XXXX/XXXX SSRs.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached SSRs.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024173

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The loan file is missing a background search to include judgment and lien search for the borrowing entity XXXX LLC, per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached search for SUD.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024173

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2024174

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not completed by the Notary.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
XXXX signed by notary and lender

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024174

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024174

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the Business Purpose and Occupancy Affidavit. Page 1 is copied over and not legible.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
occupancy affidavit attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024174

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2024170

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024170

2 of 4

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

Per guidelines if the appraisal has not been transferred the XXXX, and XXXX SSR's are required, but the reports are not in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached are the SSR reports

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024170

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file appears to contain an exception for the hazard not including 6 months rental loss, has enough in assets to cover. Deemed non-material based on compensating factors (waived).

Waived

Compensating Factors: High FICO XXX, >24 months reserves, experienced 3 rentals

XXXX

2024170

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029633

1 of 4

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2029633

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029633

3 of 4

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The XXXX SSR is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ssr

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029633

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2033605

1 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however, it should be Conventional. Truth in Lending Act (Regulation Z) 12 CFR 1026.38(a)(5)(iv)

Acknowledged

XXXX

2033605

2 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2033605

3 of 5

XXXX

XX/XX/XXXX

Credit

Program Parameters - Property Type

XXXX

Lender's Exception - Lender allowed the subject property to be located in a rural area. Compensating factors deems as non-material. (waived)

Waived

Compensating factors - XXXX months reserves, XXX mid score, XXXX residual income

XXXX

2033605

4 of 5

XXXX

XX/XX/XXXX

Credit

Verification Documentation - VOE Self-Employed/Missing

XXXX

Lender's Exception - Lender allowed the borrower's business not to be verified by a third-party as required. Compensating factors deems as non-material. (waived)

Waived

Compensating factors - XXXX months reserves, XXX mid score, XXXX residual income

XXXX

2033605

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024176

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024176

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024176

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024104

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024104

2 of 3

XXXX

XX/XX/XXXX

Credit

Program Parameters - Cash-Out, Delayed Financing

XXXX

Subject property was purchased for cash on XX/XX/XXXX. The loan transaction was completed as delayed financing. Per the guidelines, the maximum LTV is to be based upon the lower of the current appraised value or the total cost of the property (purchase price + settlement costs + any improvements made after purchase). The file is missing the costs of improvements to calculate the maximum LTV.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. XXXX DSCR. Experienced Investor.

XXXX

2024104

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024109

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing the lenders signature and information.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024109

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: 1) A limited application that includes their name, address, date of birth, social security number, and citizenship 2) An authorization to obtain a credit report and background report 3) Identification documentation as in a driver's license, passport, or similar. The loan file is missing the required documentation for XXXX (25% ownership of LLC) and XXXX (25% ownership of LLC).

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Rebuttal 2 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Samuel Patterson's qualifying credit score was below the 660 minimum. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX Borrower score. Experienced Investor. XXXX months of reserves.

XXXX

2024109

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037713

1 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037713

2 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2037713

3 of 5

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The loan file is missing the required XXXX and XXXX SSR's per XXXX guidelines. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached SSRs.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037713

4 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The Lender's Guidelines required a background check on the entity that included a lien and judgement search. The loan file contained a business search but this search did not contain a lien and judgement search.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached UCC Search.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037713

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2037714

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement is missing Exhibit A.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached is Exhibit A

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037714

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037714

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037714

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CDA provided and supports original appraised value.

Cleared

XXXX

2033579

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033579

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033579

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024107

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024107

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024107

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024111

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing the lenders signature and information.

Acknowledged

XXXX

2024111

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, a criminal history is required to be obtained on the borrower. The file is missing the required documentation.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Rebuttal 2 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation not received.

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024111

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: 1) A limited application that includes their name, address, date of birth, social security number, and citizenship 2) An authorization to obtain a credit report and background report 3) Identification documentation as in a driver's license, passport, or similar. The loan file is missing the required documentation for XXXX (25% ownership of LLC), XXXXX, and XXXX (25% ownership of the LLC).

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Rebuttal 2 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
XXXX qualifying credit score is below the 660 minimum. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX Borrower score. Experienced Investor. XXXX DSCR.

XXXX

2024111

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024108

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024108

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024108

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024106

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024106

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The borrower received gift funds in the amount of $XXXX. Gift funds are permitted after a minimum 10% borrower contribution. The loan file is missing assets to confirm ten percent (10%) contribution made by the borrower from their own funds.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
please see attached - borrower is also listed on the bank account

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024106

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan fileis missing the liability coverage. XXXX guidelines state borrower is required to obtain liability coverage equal to $XXXX. The hazard insurance policy provided does not reflect any liability coverage. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024106

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024177

1 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

Acknowledged

XXXX

2024177

2 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2024177

3 of 4

XXXX

XX/XX/XXXX

Credit

Income - Insufficient Documentation

XXXX

Per Lender's guides, the borrower is required to verify 2 years history of 1099 income. However, Lender allowed the borrower with 11 months history of 1099 income. Compensating factors deems as non-material. (waived)

Waived

Compensating factors - XXX mid score, XXXX residual income per month, 12 months reserves.

XXXX

2024177

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024179

1 of 5

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2024179

2 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

Acknowledged

XXXX

2024179

3 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2024179

4 of 5

XXXX

XX/XX/XXXX

Credit

Program Parameters - DTI

XXXX

The subject loan does not meet Investor Program Parameters for DTI. The Maximum allowed DTI for a First Time Homebuyer was XX%. The loan file contained an Exception for DTI up to XX%; However, the subject loan was approved at XX%, in excess of the guideline and the Exception.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XX% LTV. XXXX months of reserves.

XXXX

2024179

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2020202

1 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

Acknowledged

XXXX

2020202

2 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Appraisal Fee and Credit Report Fee. However, these fees should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2020202

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

The borrower has been employed as a 1099 employee since XX/XX/XXXX. Guidelines require 1099 employees to be employed for 2 years. A lender Exception was provided for the borrower to be in the same line of work for 10 months. Determined non-material based on compensating factors. (waived)

Waived

Compensating Factors: Credit score of XXX. Borrower has over XXXX months cash reserves.

XXXX

2020202

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2033581

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033581

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033581

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2024110

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024110

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024110

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2024105

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024105

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The loan file is missing a background check for XXXX LLC per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see the attached

Rebuttal 2 (XX/XX/XXXX XXXX)
Please see the attached

Response 1 (XX/XX/XXXX XXXX)
Please provided the No Hit results. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024105

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2029635

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029635

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow financing for a new project with >20% of the total units (currently) 60 days past due (XX%). XXXX guidelines state no more than 20% of the total units in a project may be 60 days + past due on the condominium/HOA fees. Determined non-material based on compensating factors (waived).

Waived

Compensating factors: Fico score XXX, borrower has lived at primary residence for 10+ years, borrower has ten + years credit history.

XXXX

2029635

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan filecontains a lender exception to allow a borrower (with previous experience LTR experience) to purchase a STR (subject is part of a 1031 exchange previous rental sold XX/XX/XXXX with not having recent STR management experience. Determined non-material based on compensating factors (waived).

Waived

Compensating factors: Fico score XXX, borrower has lived at primary residence for 10+ years, borrower has ten + years credit history.

XXXX

2029635

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029634

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029634

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029634

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024120

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024120

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024120

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2024125

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Loan Agreement is not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024125

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The file contains a lender exception for borrower living rent free within 25 miles of subject. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX is 40 points > than minimum required, LTV is 10% less than max LTV, Assets exceed required reserves by more than 12 months.

XXXX

2024125

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024122

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024122

2 of 4

XXXX

XX/XX/XXXX

Credit

Assets - Minimum Reserves

XXXX

The loan require 6 mos PITIA ($XXXX) to be held in reserves as well as funds to close from the borrower of $XXXX totaling $XXXX. Assets provided of $XXXX leave a shortfall of $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Request to revisit condition. XX account XXX exceeds requirements. I have reuploaded to previous statements including XXXX

Rebuttal 2 (XX/XX/XXXX XXXX)
Request to revisit Funds to close as of now : XXXX PITIA for the loan as of now : XXXX 6-month reserves of PITIA : 6,XXXX Total assets to be verified : XXXX + 6,XXXX = XXXX Total assets verified = XXXX (from borrower’s personal checking a/c XX #XXXX as of XX/XX/XXXX valid till XX/XX/XXXX) Asset Requirement : XXXX Asset verified : XXXX --------------------------------------------- Excess Assets : XXXX

Rebuttal 3 (XX/XX/XXXX XXXX)
Attached is the exception for XXXX

Response 1 (XX/XX/XXXX XXXX)
Account statements provided are prior to the most recent statement that creates the shortfall. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Available assets of XXXX reflected XXXX rebuttal are not accurate. Those assets are from #XXXX dated XX/XX/XXXX. Assets XXXX file from #XXXX dated XX/XX/XXXX are only XXXX. Shortage stands. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: XXX FICO, Experienced investor

XXXX

2024122

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lender provided an exception to allow more than 20% of units being 60 days + delinquent on HOA dues. Considered non-material based on compensating factors (waived).

Waived

Compensating factors: XXX FICO, Experienced investor

XXXX

2024122

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2024124

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024124

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024124

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024180

1 of 6

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2024180

2 of 6

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

Acknowledged

XXXX

2024180

3 of 6

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2024180

4 of 6

XXXX

XX/XX/XXXX

Credit

Program Parameters - Credit Score

XXXX

The borrower's credit scores are below the minimum of XXX as stated in the guidelines. The primary borrower has a credit score of XXX. A lender Exception was provided to allow for the XXX credit score. Determined non-material based on compensating factors. (waived)

Waived

Compensating Factors: Borrower is 0x30 on prior mortgage. Borrower has $XX XXXX residual income.

XXXX

2024180

5 of 6

XXXX

XX/XX/XXXX

Credit

Verification Documentation - VVOE Salaried/Missing

XXXX

The file is missing the required VVOE within 10 days of the note to verify the co-borrowers employment with the XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXXX per month residual income. XXXX months of reserves.

XXXX

2024180

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2029636

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2029636

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029636

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029637

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029637

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender Exception provided to proceed with the purchase of STR with borrower not having STR experience. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Bwr has lived XXXX primary for 5+ years, FICO XXX

XXXX

2029637

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2029638

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029638

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2029638

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029638

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029639

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029639

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2029639

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029639

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024126

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024126

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024126

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraisal value.

Cleared

XXXX

2024103

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024103

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024103

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2024123

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing the lenders signature and information on page 12.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024123

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024123

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037717

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2037717

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037717

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029642

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029642

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The file contains a lender exception for Operating Agreement amendment post application. Determined non-material based on compensating factors (waived).

Waived

Factors: FICO XXX, experienced investor, repeat AHL investor

XXXX

2029642

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024112

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2024112

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The background check for XXXX is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Background check for XXXX provided

Rebuttal 2 (XX/XX/XXXX XXXX)
Attached is the No Hit report for XXXX

Rebuttal 3 (XX/XX/XXXX XXXX)
Please see the No Hit for XXXX

Response 1 (XX/XX/XXXX XXXX)
Please provide the No Hit results. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Please provide No Hit results for XXXX. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Please provide No Hit results for XXXX. (Upheld)

Response 4 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024112

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2024127

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024127

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024127

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2024121

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: Exhibit B of the Loan Agreement is missing the date of execution.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached is the exhibit

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024121

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024121

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024121

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2033580

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033580

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033580

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024136

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024136

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2024136

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2029640

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029640

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029640

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA which supports the appraised value.

Cleared

XXXX

2037716

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2037716

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains an exception for a loan amount of $XXXX, minimum is $XXXX. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO 40 points greater than min, Assets exceed reserve requirement by 12 mons.

XXXX

2037716

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024139

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing the lenders signature and information.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024139

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guidelines require the hazard insurance policy include rent loss coverage equal to 6 months of qualifying rent. Insurance provided does not reflect rent loss coverage.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
borrower has enough XXXX reserves to cover. per guideline we can use proceeds and reserves.

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Resolved)

XXXX

2024139

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037744

1 of 6

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2037744

2 of 6

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

Acknowledged

XXXX

2037744

3 of 6

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Appraisal Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2037744

4 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

A lender Exception was provided as rural properties require management review which is allowing to proceed with 2 comps less than 5 miles from subject. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Borrower has a XXX credit score. Borrower is XXXX on mortgage history.

XXXX

2037744

5 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

Lender exception provided to accept the Accessory Dwelling Unit as is. Determined non-material based on compensating factors (waived).

Waived

Compensating factors: FICO score, stable employment history.

XXXX

2037744

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024138

1 of 5

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2024138

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024138

3 of 5

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The SSR's are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024138

4 of 5

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

Guidelines require liability coverage equal to $XXXX. The insurance provided in the loan file for our review did not reflect any liability coverage.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024138

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2037715

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2037715

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037715

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024140

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024140

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The file contains a lender exception for less than 6 months seasoning for a cash-out refinance transaction. Determined non-material based on compensating factors (waived). .

Waived

Compensating Factors: FICO XXX, DSCR XXXX

XXXX

2024140

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024137

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024137

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lender provided an exception to allow a cash out refi with less than 6 months ownership. Considered non-material based on compensating factors (waived).

Waived

Compensating factors: XXX FICO, 27 mos reserves

XXXX

2024137

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2029641

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2029641

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

Security Instrument - Incomplete. The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Page 1 of the 1-4 Family Rider was cutoff and does not show the full page.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
family rider

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2029641

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lender provided an exception to allow for a property with multiple ADU’s. Considered non-material based on compensating factors (waived).

Waived

Compensating factors: XXX FICO, 24 mos reserves

XXXX

2029641

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2033582

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033582

2 of 3

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan file contains the evidence of property insurance for the subject property; however, it is missing details needed to verify the liability insurance is equal to or greater than $XXXX and rent loss coverage equal to 6 months of qualifying rent. The hazard insurance policy that contains the policy details or verifying documentation is needed to verify the guideline requirement has been met.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached is the insurances that have enough coverage. . ...borrower has enough reserves/cash out to cover the rent loss coverage.

Response 1 (XX/XX/XXXX XXXX)
Explanation and documentation received is sufficient. (Resolved)

XXXX

2033582

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024152

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024152

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception for less than 6 months seasoning on a cash-out refinance. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: DSCR XXXX, XXX FICO

XXXX

2024152

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037718

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037718

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037718

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024141

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Loan Agreement is not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024141

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

An approved loan exception is in the loan file to use the higher of lease amounts without evidence of receipt for transferred leases with purchase. Compensating factors deem non-material (waived).

Waived

Compensating Factors: FICO score of XXX, XXXX months reserves.

XXXX

2024141

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029643

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029643

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029643

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2024143

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2024143

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

All guarantors are required to provide 1) A limited application that includes their name, address, date of birth, social security number, and citizenship. 2) An authorization for a credit report and background report. 3) Identification documentation must be provided as in a driver's license, passport, or similar. The loan file contains Identification documentation; however, none of the other required documents were provided for the non borrowing guarantors XXXX and XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
guarantor docs

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024143

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2033584

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2033584

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The background check for XXXX is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
background

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033584

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lender provided an exception as the borrower lacks a 12month history of real estate ownership. Considered non-material based on compensating factors (waived).

Waived

Compensating factors: XXX FICO, 38 mos reserves

XXXX

2033584

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2037720

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037720

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037720

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2029644

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029644

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception for the subject being listed for sale in the past 90 days and wants a cash out refinance. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO 40 points higher than minimum, The DSCR is greater than XXXX

XXXX

2029644

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains an exception for a rural property which is not allowed per guidelines. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO 40 points greater than minimum, DSCR greater than XXXX

XXXX

2029644

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037721

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2037721

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037721

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2037719

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2037719

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037719

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033583

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan agreement addendum is missing the lenders signature.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033583

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender Exception provided for extension of expired appraisal. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX, Experienced Investor

XXXX

2033583

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2033585

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033585

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required background check which includes judgment and liens search on the entity, XXXX, LLC, per XXXX guidelines. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033585

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required XXXX and XXXX SSR's per XXXX guidelines. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033585

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037722

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037722

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037722

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2033588

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2033588

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2033588

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033588

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033586

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033586

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument is inconsistent with the Title. The Vested Interest on the Security Agreement reflects XXXX; however, Title reflects current Vested Interest as XXXX. The Loan File did not contain a transfer deed to support the change in Vested Interest.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please note the updated title commitment. The name XXXX XXXX XXXX LLC was a clerical error that has been corrected. The vesting is correct.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033586

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: 1) A limited application that includes their name, address, date of birth, social security number, and citizenship 2) An authorization to obtain a credit report and background report. The loan file is missing the required documentation for XXXX (51% ownership of LLC).

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033586

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029645

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029645

2 of 3

XXXX

XX/XX/XXXX

Credit

Assets - Other

XXXX

The guidelines indicate eligible assets should be supported by two consecutive months of bank statements, dated within 90 days of the loan note date. The loan file is missing an additional bank statement for XXXX #XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached are the XXXX and XXXX statements

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029645

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2037724

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2037724

2 of 3

XXXX

XX/XX/XXXX

Credit

Verification Documentation - VOR

XXXX

The final loan application reflects the borrower's primary residence is rented. Per the guidelines a 12 month rental payment history/VOR is required. The verification of rents verifying the borrower's rental history is missing from the loan file.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. XXXX% LTV. Experienced Investor.

XXXX

2037724

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2033587

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033587

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033587

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2024142

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2024142

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

A personal Guaranty is required from one or more owners representing a majority ownership interest and any individual whose assets were used to qualify for the loan. (51% or more). The following are missing for XXXX 1) A limited application that includes their name, address, date of birth, social security number, and citizenship 2) An authorization for a credit report and background report. 3) Identification documentation must be provided as in a driver's license, passport, or similar

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
all guarantor docs including background

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2024142

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2029648

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029648

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The loan file is missing a liens and judgements background check for XXXX LLC, per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
background

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2029648

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033590

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Exhibit B to the Loan Agreement is missing the execution date.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033590

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033590

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033590

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037723

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037723

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

A personal Guaranty is required from one or more owners representing a majority ownership interest and any individual whose assets were used to qualify for the loan. (51% or more). The following are missing for XXXX 1) A limited application that includes their name, address, date of birth, social security number, and citizenship. 2) An authorization for a credit report and background report. 3) Identification documentation must be provided as in a driver's license, passport, or similar

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached guarantor docs.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037723

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2033589

1 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033589

2 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow XXXX square foot condo when minimum square footage is 500. Deemed non material based on compensating factors (waived).

Waived

Compensating Factors – Assets exceed required reserves by XXXX months; FICO score is 40 points greater than minimum requirement; Borrower has XXXX investment properties

XXXX

2033589

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow use of transferred appraisal that is in the non borrowing entity member name and does not reflect borrowing member or borrowing entity. Deemed non material based on compensating factors (waived).

Waived

Compensating Factors – Assets exceed required reserves by 6 months; FICO score is 40 points greater than minimum requirement; Borrower has 3+ investment properties

XXXX

2033589

4 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The maximum LTV for a condo project over XX% and up to XX% investor concentration is XX%. Lender exception provided to allow for a XX% LTV-plus stacking fees included for a max XX%. Deemed non material based on compensating factors (waived).

Waived

Compensating Factors – Assets exceed required reserves by 6 months; FICO score is 40 points greater than minimum requirement; Borrower has 3+ investment properties

XXXX

2033589

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037725

1 of 6

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

Acknowledged

XXXX

2037725

2 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037725

3 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

Per the guidelines, SSRs are required for non-transferred appraisals. The file is missing the required documentation.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached SSRs.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037725

4 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

Per the guidelines, a background search including a liens and judgments search is required on the entity. The file is missing the required documentation for XXXX LLC.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached no hit search for Real Signature

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037725

5 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The file contains a lender exception for no STR history. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX, Experienced Investor currently owning 3+ investment properties, property XXXX great location

XXXX

2037725

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2033591

1 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033591

2 of 5

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Notary section on the Loan Agreement was completed incorrectly. It was not marked in the correct spot whether the borrower appeared before them personally or remotely online, and the date that the borrower appeared. Additionally, where it states the borrower name should reflect the notary name. It states that XXXX appeared before XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached Note with corrected Notary.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033591

3 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The Notary section was completed incorrectly. It was not marked in the correct spot whether the borrower appeared before them personally or remotely online, and the date that the borrower appeared. Additionally, where the notary name is crossed out and the borrower's name is added instead is incorrect. This should reflect the Notary name as originally listed. Notary to initial changes made.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please see attached Mortgage with corrected notary

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033591

4 of 5

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033591

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033592

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033592

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033592

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2037726

1 of 4

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

Acknowledged

XXXX

2037726

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037726

3 of 4

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

Per the guidelines, SSRs are required for non-transferred appraisals. The file is missing the required documentation.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ssr

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037726

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037727

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037727

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037727

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037728

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037728

2 of 3

XXXX

XX/XX/XXXX

Credit

Assets - Minimum Reserves

XXXX

Funds required for closing were $XXXX ($XXXX EMD + POC $XXXX + $XXXX funds due at closing + $XXXX reserves). Assets were verified in the amount of $XXXX (XXXX acct XXXX). The file contains a XXXX statement for account XXXX with a balance of $XXXX in which the lender included in qualifying assets. The account is in the borrower’s spouse’s name. Per the guidelines, to use the account as qualifying assets, it must be a joint account with the borrower, or the owner of the account must be a member of the LLC and a guarantor. The account is only in the spouse’s name and the spouse did not sign as a guarantor. As a result, the borrower is short reserves in the amount of $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XX% LTV. Experienced Investor. XXXX DSCR.

XXXX

2037728

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

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

Cleared

XXXX

2037729

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037729

2 of 4

XXXX

XX/XX/XXXX

Credit

Assets - Other

XXXX

There are additional asset findings. The XXXX assets are in the name of XXXX LLC; however, there is nothing in the loan file that verifies XXXX has ownership interest in the business including the percentage of ownership. Without these funds, the borrower is short funds to close in the amount of $XXXX and reserves of $XXXX for a total asset shortage of $XXXX. The account in the XXXX account amount to $XXXX. Total funds required to close $XXXX, EMD of $XXXX (which also came from the XX account), POC $XXXX, and reserves $XXX for a total required assets of $XXXX. Without the XXXX account, total assets verified are $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Doc provided.

Response 1 (XX/XX/XXXX XXXX)
Document provided to tie borrower to other entity the assets are XXXX the name of. (Resolved)

XXXX

2037729

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains an exception for first time short term rental investor purchase. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: Experienced LTR investor, owns 2 rentals

XXXX

2037729

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037730

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Acknowledged

XXXX

2037730

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037730

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033594

1 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following sections of the note are incomplete: The loan agreement addendum is missing the lenders signature.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033594

2 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Missing background check

XXXX

The loan file is missing a liens and judgements background check for XXXX LLC per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033594

3 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

12 months reserves were required to meetthe conditions of the lender exceptions provided, however reserves and assets used to qualify were insufficient. In addition, the XXXX asset printouts were missing the date, confirming thecurrent balance.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033594

4 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender Exception provided for appraisal acceptance as-is. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX, Reserves Exceed 12 months

XXXX

2033594

5 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender Exception provided for less than 12 months ownership of primary residence. Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: FICO XXX, Reserves Exceed 12 months

XXXX

2033594

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2037733

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037733

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037733

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033593

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033593

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033593

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037732

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037732

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037732

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2037731

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037731

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037731

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033595

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2033595

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per guidelines if the appraisal is in XXXX LLC's name the XXXX, and XXXX SSR's are required, but the reports are not in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ssr

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033595

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037734

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037734

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037734

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2033597

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033597

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Fema Declaration declared XX/XX/XXXX, for XXXX Severe Storms, Straight-line Winds, Tornadoes, and Flooding (DR-4877-XX), with an incident period of XX/XX/XXXX. Guidelines require an inspection after the incident date and our appraisal is dated the same date XX/XX/XXXX. Please provide a Property Inspection to confirm no damage.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033597

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029646

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029646

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029646

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2037735

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037735

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037735

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2029647

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2029647

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2029647

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2033606

1 of 4

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Non-Compliant

XXXX

Using the greater of the disclosed APR XX% and the calculated APR XX%, the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was: XX/XX/XXXX. The loan is a non-compliant HPML. There is no evidence that the appraisal report was provided to the borrower at least 3 days prior to consummation.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
appraisal delivery within 3 days

Response 1 (XX/XX/XXXX XXXX)
The loan is a compliant Federal HPML, Appraisal requirements have been met. (Resolved)

XXXX

2033606

2 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2033606

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033606

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that support the value.

Cleared

XXXX

2037736

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037736

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037736

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2037738

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037738

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037738

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033596

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement was not signed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2033596

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033596

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2037740

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2037740

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The appraisal listed the property as legal non-conforming zoning. The appraisal did not contain verbiage indicating that the improvements could be rebuilt if destroyed by fire or other hazard, and specifically stated that the appraiser did not comprehensively examine zoning. This verbiage was required by guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please refer to p.27.

Rebuttal 2 (XX/XX/XXXX XXXX)
The update from XX does correctly note that there arelimitations on when a property can be rebuilt if more than XX% has been destroyed. However, I believe XXXX this case the statute allows the rebuild here.Part D item 3 states it cannot be rebuilt if over XX% is destroyed unless itmeets all requirements XXXX XX. I read the below verbiage to state that we can rebuild even if more than XXXX% is destroyed if we comply with this section. Ihave pasted the section XXXX its entirety and highlighted what I believe are thecontrolling sections.

Response 1 (XX/XX/XXXX XXXX)
It appears the subject cannot be rebuilt if over 75% of the structure is destroyed. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Upon review of provided Code XXXX Ordinances property can be rebuilt based on meeting specifications on the Code of Ordinance. (Resolved)

XXXX

2037740

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2037742

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2037742

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: 1) A limited application that includes their name, address, date of birth, social security number, and citizenship 2) An authorization to obtain a credit report and background report 3) Identification documentation as in a driver's license, passport, or similar. The file is missing the required documentation for XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Rebuttal 2 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Still missing lien/judgement searches for XXXX. She is only a Loan Participant on the Drive Report provided. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2037742

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2037739

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2037739

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2037739

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2036249

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2036249

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2036249

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2036253

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The top of page 1 wasn't circled as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Please note this was corrected prior to recording. Also, please note I was unable to upload the whole mortgage due to size restrictions. Attached is page 1.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2036253

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2036253

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2036250

1 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

New finding based on rebuttal documents provided. The security instrument was not completed accurately. The loan is a 30 year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2036250

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2036250

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2036250

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is 2.1.

Cleared

XXXX

2027294

1 of 3

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

The Notice of Right to Receive Copy of Appraisal, issued on was not disclosed within 3 days of the application date, XX/XX/XXXX. Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.14 Truth In Lending Act (Regulation Z) [HPML] 12 CFR 1026.35(a),(c) Informational Only

Acknowledged

XXXX

2027294

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027294

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2036252

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2036252

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2036252

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2036247

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The Security Instrument was not completed accurately. The loan is a 40 year fixed Close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2036247

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Borrower Info

XXXX

The borrower's name on the appraisal does not match other loan file documentation. The appraisal reflects a borrower name of XXXX. The note reflects a borrower name of XXX, LLC by XXXX, sole member.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Updated appraisal attached.

Rebuttal 2 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
Borrower name is still incorrect on the appraisal. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2036247

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is 2.5.

Cleared

XXXX

2027295

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2027295

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Missing the OFAC searches for XXXX and XXXX as required per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2027295

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is 1.1.

Cleared

XXXX

2036245

1 of 6

XXXX

XX/XX/XXXX

Compliance

Flood Insurance Required

XXXX

The loan was subject to Flood Insurance and the file contains no evidence that the Flood Hazard Notice was provided to the borrower.

Acknowledged

XXXX

2036245

2 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Appraisal Missing

XXXX

Missing required appraisal from file. The loan file contains an appraisal update report for an appraisal performed on XX/XX/XXXX and transferred to the lender with an appraised value of $XXXX; however, the actual appraisal report is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2036245

3 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The loan file is missing the 1007 market rent analysis from the appraisal.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2036245

4 of 6

XXXX

XX/XX/XXXX

Credit

Assets - Cash to Close

XXXX

The file did not containevidence the borrower had the proper amount of funds required to close. The borrower was required to evidence $XXXX in reserves. This is inaddition to the requirement of $XXXX in funds to close. Therefore, the borrower was required to evidence a totalof $XXXX in funds for the subject transaction. The loan file contained no evidence of assets. As a result, there is a $XXXX shortagein verified assets.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Assets attached. XXXX Bank Checking: XXXX and Escrow Acct: XXXX

Rebuttal 2 (XX/XX/XXXX XXXX)
Funds XXXX question sourced. Escrow deposit letter and wire out attached which matches the original lender on the promissory Note.

Response 1 (XX/XX/XXXX XXXX)
Escrow funds held were not sourced. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2036245

5 of 6

XXXX

XX/XX/XXXX

Credit

DSCR - Missing required STR Documents

XXXX

Missing required short term rental docs per guidelines. The loan file does not contain any evidence of a lease or short term rental documentation. The application reflects that the property is a short-term rental; however, the 1007 comparable rent form was missing from the loan file which typically includes comments from the appraiser on the subject's current rental information. The appraisal indicates that the property is tenant occupied and photos do not accurately reflect the status of a short-term rental, with personal items about the property and in the closets. Short-term rental documentation or a lease is required for a tenant occupied property in a DSCR program is required. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Rebuttal 2 (XX/XX/XXXX XXXX)
1007 rents were used for qual and adjusted accordingly to guidelines. Verification of actual rents received should only be required if qualifying rents is greater than 1007.

Response 1 (XX/XX/XXXX XXXX)
Still missing 12 months of STR rent receipts. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Explanation and documentation received is sufficient. (Resolved)

XXXX

2036245

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027296

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: page 23 is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027296

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The Articles of Organization/Formation and current Operating Agreement are required and not in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2027296

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is 1.

Cleared

XXXX

2036246

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2036246

2 of 3

XXXX

XX/XX/XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters for Property Type. The guidelines require a minimum 700 square feet gross living area (GLA). The subject property consisted of only XXXX sq. ft. GLA.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Subject property SQFT was reviewed and approved by underwriter and credit committee. Small square foot properties do not appear to be an anomaly for this market area and Rental comp 2 is less than 1 mile away with similar SQFT.

Rebuttal 2 (XX/XX/XXXX XXXX)
Investor has approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Investor exception required. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Comp factors - XX% LTV, No tradelines lates XXXX last 24 months and reserves of XXXX.

XXXX

2036246

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is 2.2.

Cleared

XXXX

2027297

1 of 4

XXXX

XX/XX/XXXX

Compliance

Flood Insurance Required

XXXX

The loan was subject to Flood Insurance and the file contains no evidence that the Flood Notice was provided to the borrower.

Acknowledged

XXXX

2027297

2 of 4

XXXX

XX/XX/XXXX

Credit

Credit Missing - One XXXX More Reports Missing

XXXX

Not all required credit reports are within the file. The credit report is missing as required by guides for the co-borrower XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please note XXXX is not a XXXX borrower. They are a Non Qualifying Guarantor and signed the Note as a member under the true borrower XXXX. Application/Credit report not required.

Rebuttal 2 (XX/XX/XXXX XXXX)
Client approval to waive.

Response 1 (XX/XX/XXXX XXXX)
Individuals that sign the Note are borrowers. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Client has approved to waive based on compensating factors. (Waived)

Comp factors - FICO XXX, DSCR XXXX, Reserves XXXX and experienced investor.

XXXX

2027297

3 of 4

XXXX

XX/XX/XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides for the co-borrower XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please note XXXX is not a XXXX borrower. They are a Non Qualifying Guarantor and signed the Note as a member under the true borrower XXXX . Application/Credit report not required.

Rebuttal 2 (XX/XX/XXXX XXXX)
Client approval to waive.

Response 1 (XX/XX/XXXX XXXX)
Individuals that sign the Note are borrowers. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Client has approved to waive based on compensating factors. (Waived)

Comp factors - FICO XXX, DSCR XXXX, Reserves XXXX and experienced investor.

XXXX

2027297

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027298

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027298

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027298

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027299

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027299

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027299

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is 1.

Cleared

XXXX

2031274

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031274

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031274

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027300

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027300

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027300

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.

Cleared

XXXX

2027301

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027301

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027301

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2031272

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031272

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031272

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027302

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027302

2 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027302

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027302

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2027303

1 of 3

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2027303

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027303

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 2.0.

Cleared

XXXX

2027304

1 of 3

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2027304

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027304

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027305

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

The Notice of Right to Receive Copy of Appraisal, issued on was not disclosed within 3 days of the application date, . Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.14 Truth In Lending Act (Regulation Z) [HPML] 12 CFR 1026.35(a),(c) Informational Only

Acknowledged

XXXX

2027305

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The loan is a 40 year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2027305

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027305

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027306

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2027306

2 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement is missing page 20.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027306

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027306

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU, dated XX/XX/XXXX which supports the appraised value with a risk score of 1.

Cleared

XXXX

2027307

1 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2027307

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The legal description is missing on page 25 of 25.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached. Please note only the legal description was uploaded due to file size restrictions.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027307

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027307

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.3.

Cleared

XXXX

2036248

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2036248

2 of 3

XXXX

XX/XX/XXXX

Credit

Borrower - Residency Alien Documentation

XXXX

The borrower indicates Non Permanent Resident Alien status; however, the file is missing copies of a valid VISA, as required. The file contains only copies of the Borrower drivers license and Employment Authorization Card.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
C10 EAD was approved at the time of lock.

Rebuttal 2 (XX/XX/XXXX XXXX)
Investor approval prior to funding attached. Will notify investor to review and address.

Response 1 (XX/XX/XXXX XXXX)
Absence of a valid visa on the acceptable list will require an Investor exception. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. XXXX DSCR.

XXXX

2036248

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2036254

1 of 5

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Late

XXXX

Acknowledged

XXXX

2036254

2 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2036254

3 of 5

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The Mortgage have been signed by both the individual and Member of the LLC. The borrower is the entity only, not the individual and the entity based on pg.1 of the Mortgage and Title Policy. A new Mortgage (1-4 and Business Purpose) executed only as the member of the entity is required.?

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
This is an individual acknowledgement from notary - corporate acknowledgement is what i believe you're referring to but that's when an appointed agent is signing something validated through notary these are qualified loans and title settlement agent executed (notary is signing the individual).

Response 1 (XX/XX/XXXX XXXX)
Finding voided.

XXXX

2036254

4 of 5

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2036254

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031275

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031275

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031275

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 1.0

Cleared

XXXX

2031273

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031273

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031273

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 1.

Cleared

XXXX

2027308

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan and Security Agreement was initial by the Borrower on page 21.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027308

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower’s name on the Security Instrument is inconsistent with the Title. Title reflects that current vested interest is in the name of XXXX LLC, however the mortgage lists XXXX. A deed transferring ownership interest from XXXX LLC to XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Warranty Deed attached.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027308

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027308

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.6.

Cleared

XXXX

2027309

1 of 3

XXXX

XX/XX/XXXX

Compliance

HMDA - Government Monitoring

XXXX

The Government Monitoring Section on the application was missing. Home Mortgage Disclosure Act (Regulation C) 12 CFR 1003.4(b) Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.13

Acknowledged

XXXX

2027309

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027309

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 1.8.

Cleared

XXXX

2031276

1 of 3

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2031276

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031276

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2036251

1 of 4

XXXX

XX/XX/XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2036251

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2036251

3 of 4

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2036251

4 of 4

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at 2.5 or under to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2000479

1 of 7

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2000479

2 of 7

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The origination appraisal was completed for XXXX. The appraisal transfer letter was not provided as required.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Our guidelines do not require a transfer letter, please clear this condition

Response 1 (XX/XX/XXXX XXXX)
A review of the guidelines dated XXXX do not require a transfer letter for an appraisal transfer. (Void)

XXXX

2000479

3 of 7

XXXX

XX/XX/XXXX

Credit

Assets - Minimum Reserves

XXXX

Total required funds for the transaction were $XXXX. Required reserves were $XXXX. Required closing funds, including the EMD and the POC's were $XXXX, resulting in remaining funds for reserves in the amount of $XXXX. Borrower's funds were short $XXXX in reserves.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
As per Final signed closing Disclosure, the required assets including closing cost XXXX Total assets verified : XXXX Reserves required: XXXX (6 months subject PITI) Assets after closing: XXXX

Rebuttal 2 (XX/XX/XXXX XXXX)
Client has approved exception to waive.

Response 1 (XX/XX/XXXX XXXX)
Total funds required: XXXX POC + XXXX EMD + XXXX cash to close + XXXX reserves = Total required funds of XXXX. Total funds available: XXXX Savings XXXX + XXXX Checking XXXX + Cleared EMD XXXX = XXXX Total available funds. Shortage of XXXX. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Client approved to waive based on compensating factors. (Waived)

Comp factors - FICO XXX and LTV XXXX%

XXXX

2000479

4 of 7

XXXX

XX/XX/XXXX

Credit

Borrower - Residency Alien Documentation

XXXX

The borrower indicates Non-Permanent Resident Alien status; however, the file did not contain borrower's acceptable Visa or unexpired employment authorization (EAD, Form I-766) as required per the guidelines. The file indicated there was an exception made for not having the required form; however, the actual exception is not reflected in the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
EAD documentation provided showing XXXX expiring XXXX

Response 1 (XX/XX/XXXX XXXX)
Document provided as required. (Resolved)

XXXX

2000479

5 of 7

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Subject is a purchase transaction with borrower being a First-Time Investor and DSCR .922. Per the guidelines, the minimum DSCR allowed is 1.0 for First-Time Investors. The loan file indicated there was an exception made for DSCR <1; however, the actual exception is not reflected in the file.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Approved exception provided

Rebuttal 2 (XX/XX/XXXX XXXX)
Emailed exception provided

Rebuttal 3 (XX/XX/XXXX XXXX)
The exception states for the DSCR being less than 1, XXXX which it was still approved

Rebuttal 4 (XX/XX/XXXX XXXX)
The email states an exception request for "Non-Perm Res Alien with DSCR score less then XXXX" and email confirming investor was XXXX with it

Response 1 (XX/XX/XXXX XXXX)
Documentation received does not illustrate an exception from Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Email chain does not contain Investor exception for FTHB with DSCR less than 1. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Most recent documentation received XX/XX/XXXX. Specific exception not approved by Investor. (Upheld)

Response 4 (XX/XX/XXXX XXXX)
The only exception specified on the email is the XXXX asset shortage. There needs to be a request for FTHB non-perm with DSCR less than 1, not only Non-perm but FTHB as well. The person granting the exception must grant that specific exception. (Upheld)

Response 5 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Comp factors - FICO XXX and LTV XXXX%

XXXX

2000479

6 of 7

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Subject property is located in XXXX. The investor's prepayment penalty guidelines for XXXX allowed a prepayment penalty of X% of the original principal balance. The prepay addendum to the Note required 6 months of interest on the amount prepaid that exceeds 20% of the original principal balance of the loan.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Correct guidelines provided.

Response 1 (XX/XX/XXXX XXXX)
Guidelines dated XXXX were provided and allow for a prepay XXXX XXXX of 6 months interest on amount prepaid XXXX excess of 20% of the original principle balance. (Resolved)

XXXX

2000479

7 of 7

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2033624

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033624

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Lender Exception in file as the subject loan does not meet Program Parameters for seasoning requirements. The subject transaction is a cash-out refinance and has not been owned for at least 6 months. Property owned for 122 days from application date of XX/XX/XXXX. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Credit score above minimum by 20 points XXXX greater; XXXX month housing history; PITIA reserves above minimum by 6 months XXXX greater

XXXX

2033624

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.5.

Cleared

XXXX

2000542

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2000542

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2000542

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is 1.

Cleared

XXXX

2002108

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2002108

2 of 4

XXXX

XX/XX/XXXX

Credit

Income - Rental Property Income

XXXX

The lease on the subject property expired the day of the subject loan closing on XX/XX/XXXX. The lease does reflect the option of renewal. Current lease or evidence lease went month-go-month along with 2 months bank statements supporting rental income of at least $XXXX not provided. Further, the lease not executed by tenant(s) and landlord.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Lease provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2002108

3 of 4

XXXX

XX/XX/XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

A title commitment to contain a 24-month title history is required for all loans and must be dated within 90 days of the note date which is missing from the file. The file does contain the title policy.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Title policy provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2002108

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027372

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027372

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

The investor guidelines required either a gap credit or undisclosed debt monitoring report no more than 10 days prior to loan closing or any time after closing. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2027372

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2002103

1 of 5

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2002103

2 of 5

XXXX

XX/XX/XXXX

Credit

Assets - Bank Statements

XXXX

The borrower received gift funds in the amount of $XXXX reflected on the Closing Disclosure. Gift letter was provided; however, investor guidelines required proof of 60 days seasoning and sourcing of funds. The file did not contain the required proof of the source account supporting sufficient funds to provided the gift.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
We have flexibility with spouses - they can do a gift and document as such with a gift letter and transfer of funds XXXX we can treat it as NOT a gift and pooled funds by fully documenting the source.

Response 1 (XX/XX/XXXX XXXX)
Gift Letter and funds directly to the table documented XXXX the file. (Void)

XXXX

2002103

3 of 5

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

The lender guidelines required a gap credit or Undisclosed Debt Monitoring report no more than 10 days prior to loan closing or any time after closing. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Monitoring attached

Rebuttal 2 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Referenced documentation not received. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2002103

4 of 5

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Subject is a bank statement program and accounts from 3 different businesses were provided to support the qualifying income. The Underwriter summary reflected a lender exception was approved to utilize 3 business; however, the actual lender exception with the approval signature and comp factors was not provided as required.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please waive.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: XXXX months of post closing PITIA reserves. Borrower has XXXX years self-employed XXXX the same 3 businesses XXXX the same industry. LTV is 10% below the maximum allowable.

XXXX

2002103

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2005419

1 of 4

XXXX

XX/XX/XXXX

Compliance

Note - Trust Not Executed

XXXX

The Note states the name of the trust is XXXX trust, but the only executed trust agreement in the file says the name is XXX trust. There is a XXXX trust agreement in the file but it is not executed. Unable to verify accuracy of signatures on the Note. Either the Note on page 3, and Note Addendum pages 1 and 2 needs to be corrected to reflect XXXX trust and not XXXX trust, or an executed agreement for XXXX trust is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
tracking for corrected note #XXXX will be received X/XX

Rebuttal 2 (XX/XX/XXXX XXXX)
Tracking #XXXX

Rebuttal 3 (XX/XX/XXXX XXXX)
attached

Rebuttal 4 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The information provided is not sufficient to cure the finding. Please provide a copy of the executed, corrected Note for review. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The information provided is not sufficient to cure the finding. Please provide a copy of the executed, corrected Note for review. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The corrected Note has been provided updating the Trust name and is acceptable; however, the Note addendum correcting the Trust name on page 1 and was not provided with the corrected Note. (Upheld)

Response 4 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2005419

2 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Trust Not Executed

XXXX

The Mortgage and Mortgage Trust Rider states the name of the trust is XXXX trust, but the only executed trust agreement in the file says the name is XXXX trust. There is a XXXX trust agreement in the file but it is not executed. Unable to verify accuracy of signatures on the Note. Either the Mortgage on pages 1, 13, and 14 as well as Trust Rider pages 1 and 2 needs to be corrected to reflect XXXX trust and not XXXX trust, or an executed agreement for XXXX trust is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Document is getting recorded

Rebuttal 2 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The corrective deed has been provided. Please provide evidence of when the document has been recorded. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2005419

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Lender Exception to not require all non-borrowing owners to provide a signed and dated letter acknowledging the transaction and confirming the borrower's access to the account for income-related purposes. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Credit Score above minimum by 20 points XXXX greater (XXX), time on job of 5 years XXXX greater (XXXX), DTI below max by 5% XXXX greater (XXXX%)

XXXX

2005419

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2000505

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

Security Instrument - Missing Rider/Addendum. The following Rider is missing: PUD Rider. In addition, the Rider Section on page 2 does not reflect the PUD Rider is applicable; however, per the Appraisal the subject is located in a PUD.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2000505

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2000505

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1

Cleared

XXXX

2026694

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026694

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Missing required 1004 D

XXXX

Missing required 1004 to validate value or required repairs. The appraisal provided was made subject-to repairs with no completion certification provided. The appraiser noted unit XXXX has security bars without quick release mechanism in all windows including bedrooms. Without this certification, Auditor was unable to verify if property was completed and/or repairs made.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Docs provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2026694

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CDA provided and supports original appraised value.

Cleared

XXXX

2018551

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2018551

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The photos of the front of the subject property reflect security bars on the front windows. The appraisal did not address the bars or whether they had quick release latches. The appraisal was not subject to removal of the security bars.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Pictures provided the bars were removed

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2018551

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2005423

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2005423

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2005423

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.0.

Cleared

XXXX

2000488

1 of 6

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2000488

2 of 6

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Subject is a XXXX unit dwelling with 1 unit currently vacant which is unit XXXX. Guidelines allow up to 2 units to be vacant; however, any vacant unit must provide evidence of a recent lease within the last 2 months, and is missing from the file. Further, vacant units must be actively marketed for rent by providing a screenshot of listing or other documentation. Additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Please review guidelines - guidelines referenced are for Investment properties 5-9 units XXXX mixed use 2-8 units

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Void)

XXXX

2000488

3 of 6

XXXX

XX/XX/XXXX

Credit

Income - Rental Property Income

XXXX

The loan closed XX/XX/XXXX with the borrower purchasing the subject property XX/XX/XXXX. The file contains month-to-month lease agreements for 3 of the XXXX units from the prior owner(s) while unit XXXX is vacant. The appraisal reflects unit 1 lease from XX/XX/XXXX to XX/XX/XXXX in the amount of $XXX, unit XXXX lease from XX/XX/XXXX to XX/XX/XXXX in the amount of $XXXX, and unit 2 month-to-month in the amount of $XXXX. Please provide current lease agreements and current month-to-month agreement. Proof of receipt of security deposit for new lease(s) required. Month-to-month requires proof of rent for at least 3 consecutive months prior to the note date. Additional conditions may apply.

Upheld

Rebuttal 1 (XX/XX/XXXX XXXX)
Please rereview guidelines, it appears this is from the wrong section. Also proof of rent is not needed unless: To use rents higher than is reflected on the 1007 - per guidelines on page 29-30

Response 1 (XX/XX/XXXX XXXX)
Leases XXXX place are not expired. LTV reduction due to vacancy portion will remain open since the current LTV is over 100%. (Upheld)

XXXX

2000488

4 of 6

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

According to the appraisal/title, the subject was purchased XX/XX/XXXX. The subject refinance closed XX/XX/XXXX which is less than 6 months. The appraisal does not reflect any improvements to the subject property, and the file does not contain any documented improvements. The LTV must be based off the purchase price of $XXXX which results in a XX% LTV. The LTV does not meet the program eligibility guidelines.

XXXX

2000488

5 of 6

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

The appraisal reflects the property location as rural. Guidelines do not allow rural properties.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Please review guidelines - guidelines referenced are for Investment properties 5-9 units XXXX mixed use 2-8 units

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Void)

XXXX

2000488

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2000489

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2000489

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2000489

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.4.

Cleared

XXXX

2023946

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023946

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023946

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2026676

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026676

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026676

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2000475

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider is missing: Inter Vivos Revocable Trust Rider for XXXX Living Trust. One was provided for in the loan file for XXXX Living Trust and one was provided in the loan file for XXXX Living Trust.

Upheld

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Rebuttal 2 (XX/XX/XXXX XXXX)
Docs uploaded.

Response 1 (XX/XX/XXXX XXXX)
The referenced documentation was not received. The CDA report was provided. Please provide the Rider for review. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The Inter Vivos Revocable Trust Rider for XXXX Living Trust has been provided and will be acceptable when executed by all parties. Please provide an executed copy for review. (Upheld)

XXXX

2000475

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2000475

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2023923

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023923

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Lender Exception in file as the subject loan does not meet Program Parameters for minimum DSCR equal to or greater than 1. The DSCR for the subject transaction was XX%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Exception provided

Response 1 (XX/XX/XXXX XXXX)
Investor approved lender exception to waive based on compensating factors. (Waived)

Compensating factors: Monthly reserves are verified and at least 4 months more than guideline minimum; Housing payment history is 0x30x24 XXXX better; Borrower has real estate investment experience as seasoned investor with more than 2 prior investments displaying at least 0x30x12 pay history

XXXX

2023923

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 2.1.

Cleared

XXXX

2013707

1 of 3

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XX%) and the calculated APR (XX%), the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2013707

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2013707

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2002091

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2002091

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2002091

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score 1.7.

Cleared

XXXX

2013706

1 of 6

XXXX

XX/XX/XXXX

Compliance

HMDA - Government Monitoring

XXXX

The Government Monitoring Section on the application was missing. Home Mortgage Disclosure Act (Regulation C) 12 CFR 1003.4(b) Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.13

Acknowledged

XXXX

2013706

2 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement on Exhibit B, is missing the Borrower's signature on the Natural Person Section.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2013706

3 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2013706

4 of 6

XXXX

XX/XX/XXXX

Credit

Appraisal - Repairs

XXXX

The guidelines indicate if the appraiser has marked the appraisal “Subject to the following repairs…”, then the appraiser must perform a final inspection after the completion of work. The appraisal was made subject to the installation of CO detectors. The loan file is missing the 442 updated / completion report from the original appraiser. It should be noted the loan file contains an LOE from the borrower that the CO detectors were installed and photos to support.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
LOE from borrower and photos provided showing the XXXX detectors were installed.

Response 1 (XX/XX/XXXX XXXX)
Documentation was provided to show XXXX Detectors were installed. (Resolved)

XXXX

2013706

5 of 6

XXXX

XX/XX/XXXX

Credit

Final Application - Missing

XXXX

The guidelines indicate a complete URLA signed and dated by interviewer and Borrower(s) is required. The loan file is missing an application executed by the borrower.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
XX loan - 1003 is not required. Attached for information only

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2013706

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2018552

1 of 3

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Disclosures/Escrow Account

XXXX

The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: A box was not checked stating whether the reason they will not have an escrow account is because they declined it or because the lender does not offer one. Truth in Lending Act (Regulation Z) 12 CFR 1026.38(l)(7)

Acknowledged

XXXX

2018552

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2018552

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is 2.1

Cleared

XXXX

2016528

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The file includes an executed Prepayment Rider. However, Section (E) "Riders" of the Security Instrument does not reflect the Prepayment Rider. Please provide a revised mortgage document, which includes the necessary corrections on page 3. The borrower is required to initial the changes made.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Document provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2016528

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2016528

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2023924

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023924

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Subject closed in the name of XXXX LLC. The investor guidelines required Certification of Good Standing for the subject entity. The required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
COGs provided

Response 1 (XX/XX/XXXX XXXX)
Document provided as required. (Resolved)

XXXX

2023924

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception in file as the subject does not meet the Program Parameters for LTV. Subject is a 2 unit cash out refinance and both units are vacant which required an LTV reduction of 5%. Subject closed at 75% and with the reduction of 5% maximum would be 70%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Approved exception provided

Response 1 (XX/XX/XXXX XXXX)
Investor has approved Lender Exception to waive based on compensating factors. (Waived)

Compensating Factors: Fico of XXX is higher than XXX and at least 20 points higher than guidelines minimum, post closing reserves of 47 months PITIA reserves, housing payment history is 0x30x24 XXXX better, borrower has real estate investment experience as a seasoned investor with more that 2 prior investments displaying at least 0x30x12 pay history

XXXX

2023924

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2016530

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Doc provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2016530

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2016530

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2026672

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026672

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026672

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2002092

1 of 6

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR 8.188 and the calculated APR 8.123, the loan is a higher-priced mortgage loan, as defined in Regulation Z. The Date Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2002092

2 of 6

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following Rider is missing: PUD Rider. Per the Appraisal and Title the property is located in a Planned Unit Develop therefore a PUD Rider is required to be attached with the Security Instrument. Please provide the executed Rider and a revised Security Instrument, which includes the necessary corrections on page 2. The Borrower is required to initial the changes made.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2002092

3 of 6

XXXX

XX/XX/XXXX

Credit

Credit Missing - One XXXX More Reports Missing

XXXX

Guidelines require a gap credit or undisclosed debt monitoring report no more than 10 days prior to loan closing or any time after closing and is missing from the file as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2002092

4 of 6

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

Purchase transaction. The borrower is currently living rent free. Guidelines require max LTV of XX% and max DTI of XX%. Loan closed with a DTI of XX% which meets the guideline; however, LTV of XX% exceeds the LTV guideline.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please waive.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. XXXX% DTI. XXXX months of reserves.

XXXX

2002092

5 of 6

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

The borrower is a first-time home buyer. Per letter from spouse, the borrower is not on the mortgage or title. A first time home buyer is an ineligible borrower per the Bank Statement/Flex income program guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
FTHB is allowed on a primary purchase - per guidelines they are not allowed on Investments - please re-review

Rebuttal 2 (XX/XX/XXXX XXXX)
Processor cert provided

Response 1 (XX/XX/XXXX XXXX)
The guide does not differentiate between primary and investment with respect to FTHB ineligibility. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2002092

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.

Cleared

XXXX

2033625

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033625

2 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The subject loan does not meet Program Parameters for continuity of obligation. To satisfy the continuity of obligation requirement, at least one borrower is obligated on the new loan who was also a borrower obligated on the existing mortgage loan being refinanced. When title is held in the name of a natural person or an entity, as long as the borrower was a member of the entity prior to any transfer. 50% ownership of an entity is considered to meet continuity of obligation. The existing mortgage loan being refinanced was in the name of XXXX and originated on XX/XX/XXXX. The property was transferred from XXX, as Grantor to XXXX and XXXX, XXXX Trust, Trustees, on XX/XX/XXXX by Deed of Gift. The beneficiaries of the trust are XXXX LLC 50% and XXXX, LLC 50%. On XX/XX/XXXX XXXX sold her remaining interest in the subject property to XXX LLC and XXXX, LLC. Therefore, the borrowers/entity were not obligated on the existing mortgage prior to the transfer of ownership.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
The borrowers are 100% owners of XXXX llc which is verified by the operating agreement XXXX file for XXXX and gives 50% ownership XXXX the property since XX/XX/XXXX and meets continuity requirements per guide as seen below, to satisfy “it must meet one of the following” and this does, I see what they are saying but I don’t believe they realized the borrowers own XXXX XXXX that b1 is a trustee and all is verified with docs XXXX file, the property was gifted to the trust that borrower 1 has been on since inception as trustee so we not only meet continuity by B1 being a trustee but also by the borrowers owning XXXX at 100% meeting 50% ownership and guides on either case, please resubmit with explanation and docs to support if needed as they are all XXXX file.

Response 1 (XX/XX/XXXX XXXX)
Explanation and documents XXXX file to support continuity of obligation. (Resolved)

XXXX

2033625

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Lender Exception in file as the subject loan does not meet Program Parameters for long term rental. The lease agreement reflects the subject property is being leased for 9 months versus 12 months as required. In addition, the co-borrower has no primary housing expense. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Approved exception provided

Response 1 (XX/XX/XXXX XXXX)
Investor has approved to waive based on compensating factors. (Waived)

Compensating factor: Monthly reserves are verified and at least 4 months more than guideline minimum.

XXXX

2033625

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.

Cleared

XXXX

2009843

1 of 7

XXXX

XX/XX/XXXX

Compliance

HMDA - Government Monitoring

XXXX

The Government Monitoring Section on the application was not completed or acknowledged. Home Mortgage Disclosure Act (Regulation C) 12 CFR 1003.4(b) Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.13

Acknowledged

XXXX

2009843

2 of 7

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The subject property is a short term rental. The comparable rental schedule was included and market rents were based on short term rental properties. Per the investor guidelines, no daily or weekly vacation rentals should be used in the market rent survey. Origination form 1007 did not meet the guide requirements.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
That section of guides is specific to long term rentals; short term rentals allow 1007 and does not specify it can't be short term rental comp

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Resolved)

XXXX

2009843

3 of 7

XXXX

XX/XX/XXXX

Credit

Contract Addendum - Missing

XXXX

The HUD for the subject transaction reflected a seller credit for repairs in the amount of $XXXX. The addendum to the contract supporting these seller contributions was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Addendum provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2009843

4 of 7

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The subject property is a short term rental. The investor guidelines required anXXXX report to include 5 comparison properties within 2 miles of subject or same zip code, and generally in similar size, room count, availability and occupancy. The first page of an XXXX report was provided; however was not complete with all of the required information.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
All pages provided

Rebuttal 2 (XX/XX/XXXX XXXX)
All pages provided showing X/X

Rebuttal 3 (XX/XX/XXXX XXXX)
Docs provided.

Response 1 (XX/XX/XXXX XXXX)
The full report is still missing. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
All pages of the XXXX have been provided. (Resolved)

XXXX

2009843

5 of 7

XXXX

XX/XX/XXXX

Credit

Final Application - Missing

XXXX

The final loan application was incomplete. The only pages provided were the Lender Loan Information page.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
1003 provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2009843

6 of 7

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The subject's hazard insurance did not include wind coverage and an invoice was provided for the separate wind policy. The wind policy was not provided to support the coverage information to include the mortgagee clause.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Doc with correct mortgagee provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2009843

7 of 7

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.9 was provided and supported the appraised value.

Cleared

XXXX

2013716

1 of 4

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2013716

2 of 4

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

There loan application is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
XX loan 1003 is not required, attaching for information only

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2013716

3 of 4

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines.The borrower purchased the subject property XX/XX/XXXX for $XXX which is within 6 months of the subject rate and term transaction. Subject is new construction. The LTV calculation based on the purchase price increases to XX%. Max LTV for a rate/term refinance is XX%.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please waive.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. XXXX DSCR. XXXX months of reserves.

XXXX

2013716

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

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

Cleared

XXXX

2013712

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2013712

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM closed day of closing provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2013712

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2033626

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033626

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033626

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.

Cleared

XXXX

2023925

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023925

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The subject Note was a 10 year interest only then 20-year amortization. Per the lender guidelines, interest only loan qualification is based on the fully amortized payment calculated over the fully amortized period. At origination, the DSCR was calculated using the interest only payment. Using the full amortizing payment in the qualifying DSCR, the DSCR reduced to .92. Investor guidelines allowed for DSCR <1; however, subject would not qualify under those guidelines.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Our guidelines state to use the ITIA payment for DSCR calculation (Page 9 of 95)

Response 1 (XX/XX/XXXX XXXX)
A review of guidelines does allow the DSCR to be calculated using the IO payment. (Void)

XXXX

2023925

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2018557

1 of 3

XXXX

XX/XX/XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Loan Discount Fee (Points) and Appraisal Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Appraisal invoice provided; dated X/X, XXXX which lender was not made aware until then of increase XXXX fee; re-disclosed X/X and is within days of discovery Please confirm the fee XXXX question for discount points, and the tolerance it is exceeding.

Rebuttal 2 (XX/XX/XXXX XXXX)
Lock confirmation showing an Exception was approved, so the XXXX exception adjustment was applied to the file.

Rebuttal 3 (XX/XX/XXXX XXXX)
PCCD and check provided for cure

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The Pricing Exception has been applied to the Points -Loan Discount fee increase on XX/XX/XXXX. The Appraisal Invoice provided does state a reason for the increase fee. Please provide details as to why the Appraisal fee increased to determine if it is valid reason. An updated cost to cure XXXX the amount of XXXX remains. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The Appraisal Invoice provided does not state a reason for the fee increase from XXXX to XXXX. Please provide details as to why the Appraisal fee increased to determine if it is valid reason. An updated cost to cure XXXX the amount of XXXX remains. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2018557

2 of 3

XXXX

XX/XX/XXXX

Credit

Income - Employment History

XXXX

Lender exception in file as borrowers have not been with current employer for a minimum 2 years. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Approved exception provided

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors - FICO of XXX and clean housing history 0x30x24 XXXX better.

XXXX

2018557

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of 1.3.

Cleared

XXXX

2016521

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2016521

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2016521

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2009846

1 of 7

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2009846

2 of 7

XXXX

XX/XX/XXXX

Credit

Contract - Parties

XXXX

The purchase contract reflects XXX, LLC as the "Buyer" and not XXXX, LLC as reflected on the Note.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Addendum to correct buyer provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2009846

3 of 7

XXXX

XX/XX/XXXX

Credit

Credit Missing - One XXXX More Reports Missing

XXXX

The loan file is missing a tri-merged credit report for Co-Borrower XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
This is a non-borrowing owner who has interest XXXX the vested LLC, this is not available.

Response 1 (XX/XX/XXXX XXXX)
Verification that other owner of LLC was only a non-borrower on subject loan and guidelines do not require a credit report on non-borrower owners of LLC. (Resolved)

XXXX

2009846

4 of 7

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The purchase agreement indicates the subject property is currently subject to a lease agreement and the appraisal indicates "tenant occupied." However the lease agreement was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Lease is not required for a purchase, we can utilize the 1007

Rebuttal 2 (XX/XX/XXXX XXXX)
Addendum correcting buyers name on the purchase contract provided

Rebuttal 3 (XX/XX/XXXX XXXX)
On a purchase, we do not require both the 1007 and lease agreement; XXXX to proceed with just the 1007

Rebuttal 4 (XX/XX/XXXX XXXX)
Lease provided

Response 1 (XX/XX/XXXX XXXX)
Please provide commentary from the appraiser that the lease was reviewed XXXX a copy of the lease. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Document received does not address defect. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Please clarify. XXXX this case the leases are transferred according to the CD. They are still active. (Upheld)

Response 4 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2009846

5 of 7

XXXX

XX/XX/XXXX

Credit

Final Application - Missing

XXXX

The loan file is missing a Final 1003/Application executed by XXXX and XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
This is a non-borrowing owner who has interest XXXX the vested LLC, this is not available.

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Resolved)

XXXX

2009846

6 of 7

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Lender Exception in file for the Borrower being the listing agent of the subject property and being a principal member of "XXXX", which is the entity represented as the "seller" on the purchase contract. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Investor has approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Compensating Factors: XXX Fico Score, Experienced Investor, > 6 months PITI reserves (135 months)

XXXX

2009846

7 of 7

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is 1

Cleared

XXXX

2023944

1 of 3

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Disclosures/Escrow Account

XXXX

The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: The No Escrow Table is inaccurate. There is no box checked as to if Escrow's were declined or your lender does not offer one. Truth in Lending Act (Regulation Z) 12 CFR 1026.38(l)(7)

Acknowledged

XXXX

2023944

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Inquiries

XXXX

The credit report XX/XX/XXXX shows a recent inquiry within 90 days with XXX Bank on XX/XX/XXXX that was not addressed as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023944

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2023936

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023936

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Per the lender's guidelines a valid Decision Credit score requires at least one (1) borrower to have a minimum of three (3) credit scores. The credit report dated XX/XX/XXXX reflected the borrower only had 2 credit scores.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Exception attached

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. Experienced Investor. XXXX DSCR.

XXXX

2023936

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2013715

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2013715

2 of 3

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Business Bank Statement program using asset statement from XXXX XXXX. The borrower is 90% owner of the business, XXXX Inc. Guidelines require non-borrowing owners of the business to provide a signed and dated letter acknowledging the transaction and confirming borrower's access to the account for income-related purposes, and is missing from the file as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2013715

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.

Cleared

XXXX

2026673

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026673

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Appraisal Missing

XXXX

The appraisal (including market rent) is missing from the loan file. The file contains only a CDA, dated XX/XX/XXXX, that reflects a value of $XXXX. DSCR could not be verified.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Appraisal provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2026673

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the $XXXX value; however, the original appraisal is missing from the file.

Cleared

XXXX

2023926

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023926

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception in the file to allow Cash out refinance with DSCR <1. Investor guidelines requires a second level review. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Approved exception provided

Response 1 (XX/XX/XXXX XXXX)
Investor approved Lender Exception to waive based on compensating factors.(Waived)

Compensating factors: LTV less than XX% and at lease 5% less than guideline maximum, XXXX months post closing reserves and housing payment history is XXXX.

XXXX

2023926

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2026692

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026692

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026692

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 1.8.

Cleared

XXXX

2013722

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2013722

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2013722

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.5 was provided and supported the appraised value.

Cleared

XXXX

2027368

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027368

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027368

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score 2.1.

Cleared

XXXX

2023927

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023927

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023927

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.4 was provided and supported the appraised value.

Cleared

XXXX

2013733

1 of 5

XXXX

XX/XX/XXXX

Compliance

State Regulations

XXXX

This loan failed the prohibited fees test. The loan charges a prohibited fee based on the following finding: The loan charged more than one appraisal fee. (XX Fin. Code §22317)

Acknowledged

XXXX

2013733

2 of 5

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The subject's appraisal was completed in the broker's name. The file did not contain the required appraisal transfer letter to the lender.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Guidelines do not require a transfer letter.

Response 1 (XX/XX/XXXX XXXX)
Upon further review the guidelines do not require an appraisal transfer letter. (Void)

XXXX

2013733

3 of 5

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2013733

4 of 5

XXXX

XX/XX/XXXX

Credit

Income - Other

XXXX

Lender exception provided to all the employment contract in process to meet the stability of income requirements. Borrower is on a temporary contract since XX/XX/XXXX and was contract was recently updated to extend employment to XX/XX/XXXX. Client to approve downgrading findings based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Investor approved Lender Exception.

Response 1 (XX/XX/XXXX XXXX)
Investor approved Lender Exception based on compensating factors. (Waived)

Compensating factors: Credit score of XXXX is 40 points higher than the minimum required, XXXX months of post closing reserves, housing history of XXXX for XXXX months. Borrower has worked XXXX the same industry for greater than 5 years.

XXXX

2013733

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A Field Review dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2023928

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023928

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023928

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2013723

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2013723

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The subject property is a XXXX-unit property located on a XXXX square foot lot and zoned Multi-Family (8) residential. The property zoning was legal-nonconforming use. The addendum provided appraiser's commentary stating current zoning allows for 8 units per acre. Based on the subjects site size, the subject could only be rebuilt as one unit.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Please waive.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XXX score. XXXX% LTV. XXXX DSCR.

XXXX

2013723

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2023929

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023929

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023929

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2026682

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026682

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Missing required 1004 D

XXXX

Missing required 1004 to validate value or required repairs. The appraisal provided was made subject to repairs with no completion certification provided. The appraiser noted smoke and CO Detectors were to be installed in both units and the basement. There is no evidence in the file that the repairs were completed.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Rebuttal 2 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The 1004 D required evidence of smoke detectors installed XXXX both units and XXXX the basement. There are 2 sets of photos that appear to be identical. The photos support installation XXXX 1 unit. The XXXX unit and the basement were not photographed. Please provide a 1004D. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2026682

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CDA provided and supports original appraised value.

Cleared

XXXX

2026691

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026691

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026691

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 1.

Cleared

XXXX

2023930

1 of 5

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023930

2 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Lender exception in file as the subject does not meet the DSCR guidelines for the required Operating Agreement for the entity, XXXX, LLC. Client to approve downgrading finding based on compensating factors.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
K1 provided showing borrower owns 100% therefor no Operating Agreement is needed

Rebuttal 2 (XX/XX/XXXX XXXX)
No OA as borrower is sole member

Response 1 (XX/XX/XXXX XXXX)
K-1 provided confirms 100% ownership of XXXX. Operating Agreement is still required for XXXX. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

Compensating factors: LTV of XXXX% is lower than maximum of XX%, DSCR of XXXX% is greater than XXXX%, Mortgage payments reflect 0/30 on 6 mortgages on the origination credit. Borrower has real estate investment experience as seasoned investor with more than 2 prior investments displaying at least 0x30x12.

XXXX

2023930

3 of 5

XXXX

XX/XX/XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The subject closed in the name of XXXX LLC. The investor guidelines required the EIN/W9 for the entity. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
EIN provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023930

4 of 5

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Subject property is located in XXXX. The investor's prepayment penalty guidelines for XXXX allowed a 3-year period max; 2 months advanced interest on the aggregate amount of all prepayments made in any 12 month period in excess of 1/3 of the original principal amount. The prepay addendum to the Note reflected a 2 year prepayment term and was equal to 6 months of interest on the amount prepaid that exceeds 20% of the original principal balance of the loan. Prepay penalty was outside of the allowable prepayment terms.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Doc provided.

Rebuttal 2 (XX/XX/XXXX XXXX)
Corrective statement and intent to re-record provided

Rebuttal 3 (XX/XX/XXXX XXXX)
The corrective statement reflects correction the note already and was approved by XX before sending.

Response 1 (XX/XX/XXXX XXXX)
Documentation not received. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
This covers the mortgage. Please provide a corrective addendum to the Note, which does not require recording. (Upheld)

Response 3 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023930

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2018554

1 of 3

XXXX

XX/XX/XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2018554

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2018554

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2026674

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026674

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026674

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2023945

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023945

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023945

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2033627

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033627

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033627

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.6.

Cleared

XXXX

2023931

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023931

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023931

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2023932

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023932

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023932

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2034748

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2034748

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2034748

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 3.7. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027374

1 of 6

XXXX

XX/XX/XXXX

Compliance

HUD1 - Missing (All)

XXXX

There is no evidence of a HUD-1 Settlement Statement provided in the loan file. As a result the following reviews could not be performed: TILA Accuracy, MDIA, Agency Points and Fees, QM Points and Fees, QM DTI Threshold, Federal Threshold, State Threshold, RESPA 2010 review, and final HUD-1 accuracy. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8(a).

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Hud SS provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2027374

2 of 6

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: Prepayment Addendum is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Addendum provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2027374

3 of 6

XXXX

XX/XX/XXXX

Credit

Borrower - Ineligible borrower

XXXX

Does not meet eligible borrower requirements per guidelines. Lender exception in the file as the subject loan does not meet the Program Parameters for Eligible Borrower. Borrower is a first-time homebuyer and a first-time investor, both of which investor guideline reflect as ineligible. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation uploaded.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Fico higher than XXX and at lease 20 points higher than guidelines minimum, 41 months of post closing PITIA reserves.

XXXX

2027374

4 of 6

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters. Lender exception in the file as loan does not meet the Program Parameters for LTV. The investor guidelines required a 5% LTV reduction for loan amounts less than $XXXX. Maximum LTV per the guidelines is XX% and with LTV reduction would be XX%. Loan amount was $XXXX and closed at XX% LTV. Client to approve downgrading based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation uploaded.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Fico higher than XXX and at lease 20 points higher than guidelines minimum, 41 months of post closing PITIA reserves.

XXXX

2027374

5 of 6

XXXX

XX/XX/XXXX

Credit

Verification Documentation - VOR

XXXX

Lender exception in the file as subject loan does not meet the requirement for private VOR with 12 months of canceled checks or bank statement supporting consistent payments in the amount used in qualifying. Client to approve downgrading based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation uploaded.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Fico higher than XXX and at lease 20 points higher than guidelines minimum, 41 months of post closing PITIA reserves, and screen shots from XXXX software reflecting payments made.

XXXX

2027374

6 of 6

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.4 was provided and supported the appraised value.

Cleared

XXXX

2027375

1 of 7

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2027375

2 of 7

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Prepayment Addendum was not found in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027375

3 of 7

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider is missing: Prepayment Rider

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027375

4 of 7

XXXX

XX/XX/XXXX

Credit

Borrower - Ineligible borrower

XXXX

Lender exception in the file as the subject loan does not meet the Program Parameters for Eligible Borrower. Borrower is a first-time homebuyer and a first-time investor, both of which investor guideline reflect as ineligible. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation uploaded.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Fico higher than XXX and at lease 20 points higher than guidelines minimum, 44 months of post closing PITIA reserves,

XXXX

2027375

5 of 7

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception in the file as loan does not meet the Program Parameters for LTV. The investor guidelines required a 5% LTV reduction for loan amounts less than $XX. Maximum LTV per the guidelines is XX% and with LTV reduction would be XX%. Loan amount was $XX and closed at XX% LTV. Client to approve downgrading based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation uploaded.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Fico higher than XXX and at lease 20 points higher than guidelines minimum, 44 months of post closing PITIA reserves.

XXXX

2027375

6 of 7

XXXX

XX/XX/XXXX

Credit

Verification Documentation - VOR

XXXX

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation uploaded.

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Fico higher than XXX and at lease 20 points higher than guidelines minimum, 44 months of post closing PITIA reserves, and screen shots from XXXX software reflecting payments made.

XXXX

2027375

7 of 7

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.4 was provided and supported the appraised value.

Cleared

XXXX

2023942

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023942

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023942

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.4.

Cleared

XXXX

2026681

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026681

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026681

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2026675

1 of 3

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A.

Acknowledged

XXXX

2026675

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026675

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2023933

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023933

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023933

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2026688

1 of 3

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2026688

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026688

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score 3.8. Subject property is a Flip transaction per client guidelines a second appraisal is required. A second appraisal was obtained which supported the value within 10%.

Cleared

XXXX

2016527

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2016527

2 of 3

XXXX

XX/XX/XXXX

Credit

Income - Other/Missing

XXXX

Qualifying income for the borrower was from 12 months of business checking account with XXXX Bank, account ending # XXXX. The statement ending XX/XX/XXXX was missing from the loan file. Income cannot be calculated/validated without the full 12 months of bank statements.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
X/X is not needed as there are 12 months from XX/XX/XXXX - XX/XX/XXXX

Rebuttal 2 (XX/XX/XXXX XXXX)
Stmt provided

Response 1 (XX/XX/XXXX XXXX)
The loan closed X/X. XX/XX/XXXX statement is required for aging. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2016527

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 2.1 was provided and supported the appraised value.

Cleared

XXXX

2013736

1 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. Page 10 of the mortgage is cutoff.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2013736

2 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2013736

3 of 4

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2013736

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2026677

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026677

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026677

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.3.

Cleared

XXXX

2023934

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023934

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023934

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2026678

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026678

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026678

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 1.

Cleared

XXXX

2023935

1 of 5

XXXX

XX/XX/XXXX

Compliance

ROR - Timing

XXXX

This loan failed the TILA right of rescission test. ,Closed-end (12 CFR §1026.23(a)(3), transferred from 12 CFR §226.23(a)(3)), Open-end (12 CFR §1026.15(a)(3), transferred from 12 CFR §226.15(a)(3). The funding date XX/XX/XXXX is before the third business day following consummation XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Final SS confirms funding date of XX/XX/XXXX

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2023935

2 of 5

XXXX

XX/XX/XXXX

Compliance

State Regulations

XXXX

This loan failed the prohibited fees test. The loan charges a prohibited fee based on one or more the following findings: The loan charged more than one appraisal fee. (XX Fin. Code §22317).

Acknowledged

XXXX

2023935

3 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Loan Disclosures/Escrow Account

XXXX

Acknowledged

XXXX

2023935

4 of 5

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2023935

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2020102

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2020102

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2020102

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.

Cleared

XXXX

2027369

1 of 4

XXXX

XX/XX/XXXX

Compliance

TRID - CD/Lender Credits that Cannot Decrease (No Valid COC)

XXXX

The loan failed the Lender Credits that Cannot Decrease Test. The lender credit decreased on the CD issued on XX/XX/XXXX without a valid change of circumstance. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
CIC and lock confirmation confirming the change was for a lock extension provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027369

2 of 4

XXXX

XX/XX/XXXX

Credit

Assets - Large Deposits/Unacceptable

XXXX

Total required funds for closing and reserves were $ XXXX. The total of the bank statements and EMD funds were documented as $XXXX. Included in the total assets verified was a XX Bank savings account ending in #XXXX which had a large deposit of $XXXX on XX/XX/XXXX and a large transfer from account ending in #XXXX in the amount of $XXXX. Documentation to support the source of this large deposit and transfer was not provided. With the source documented, the transaction would be short of the required funds for closing and reserves.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation provided

Response 1 (XX/XX/XXXX XXXX)
Bank statements and wire transfer provided to support deposits and transfers. (Resolved)

XXXX

2027369

3 of 4

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provide

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2027369

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.1 was provided and supported the appraised value

Cleared

XXXX

2036801

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. On page one where it says XXXX, XXX it should instead reflect XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2036801

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Subject is a short term rental. To calculate income, guidelines required a short term rental statement to include property identification by address with 12 months of rental income reflected. The 12 month rental income statement provided did not reflect the subject's property address as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation uploaded.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2036801

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2023939

1 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX . Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2023939

2 of 5

XXXX

XX/XX/XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Appraisal Fee. A cost to cure in the amount of $XX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
XX sent XX/XX/XXXX at XXXX, the fee was re-disclosed within 3 days at XXXX after receiving the invoice. Since the lender re-disclosed the initial fee within the original 3 days no cure needed.

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2023939

3 of 5

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The Homeowners Association Certification indicated that the subject property did not meet the community standards per site check on XX/XX/XXXX. Does not currently meet exterior or property maintenance standards. An architectural committee application for exterior renovation was required within 30 days of closing. General property maintenance to be complete within 30 days of closing or sooner. Further documentation with additional details or resolution of issue was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation provided

Response 1 (XX/XX/XXXX XXXX)
Approval letters provided. (Resolved)

XXXX

2023939

4 of 5

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023939

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2026680

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026680

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026680

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2027378

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027378

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027378

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2026679

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026679

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Lender Exception in file as the subject loan does not meet Program Parameters for LTV. Per the lender's guidelines a 5% reduction in LTV is required when the appraisal reflects a declining market which results in a maximum LTV of XX%. The subject transaction was approved at XX% LTV. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Approved exception provided

Rebuttal 2 (XX/XX/XXXX XXXX)
Title provided

Response 1 (XX/XX/XXXX XXXX)
The exception provided requires the Title to be Fee Simple. Email from Title Agent indicates the Title will be Fee Simple; however, Title XXXX file reflects Leasehold. Also, the HUD does not reflect ground rent redemption. It appears the Title is still Leasehold without evidence of ground rent redemption. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Investor has approved to waive based on compensating factors. (Waived)

Compensating factors: Monthly reserves are verified and at least 4 months more than guideline minimum; Qualifying DSCR higher than 1.1x and at least 0.1x higher than guideline minimum

XXXX

2026679

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.0.

Cleared

XXXX

2031240

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031240

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031240

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.3 was provided and supported the appraised value.

Cleared

XXXX

2033630

1 of 5

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033630

2 of 5

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Document provided as required. (Resolved)

XXXX

2033630

3 of 5

XXXX

XX/XX/XXXX

Credit

Hazard Insurance deductible over allowed 5% of coverage amount.

XXXX

Deductible over the allowed 5% of coverage amount. Subject H06 policy reflected dwelling coverage of $XXXX and a hurricane deductible of $XXXX which is XX% of the dwelling coverage, exceeding the maximum allowable of X%.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Policy states 5% of coverage A + coverage C which equals XXXX and 5% is XXXX therefore this is acceptable

Response 1 (XX/XX/XXXX XXXX)
Upon further review deductible meets overlay requirement. (Resolved)

XXXX

2033630

4 of 5

XXXX

XX/XX/XXXX

Credit

Verification Documentation - VOR

XXXX

A VOR from a private individual and lease on the borrower's departure residence was provided with copies of cashiers checks supporting payments for 11 months. The investor guidelines required 12 months of canceled checks or bank statements to support the monthly payments made. Cashiers checks for 11 months only were provided with one additional email reflecting an additional payment was set up to be paid on XX/XX/XXXX. Copy of the cashier's check or corresponding bank statement to support this payment was actually made was not provided. It should be noted that an email from XXXX to XXXX asking for an exception to use the 11 months proof of receipt and XXXX responded "Okay" to email; however, no actual lender exception form was provided.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Form provided

Rebuttal 2 (XX/XX/XXXX XXXX)
Original condition stated for form,, which was provided. Email confirmation from XXXX at XXXX also provided confirming he was Okay; with exception, this should be sufficient as we provided what was conditioned for.

Response 1 (XX/XX/XXXX XXXX)
It could not be determined if the exception form provided was from the Investor. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
XXXX email sufficient. Waiver granted by Investor. (Waived)

Compensating factors: Low DTI of XXXX%, XXXX months of post closing PITIA reserves, XXXX months of rent payments documented with no late payments.

XXXX

2033630

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.6 was provided and supported the appraised value.

Cleared

XXXX

2026684

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026684

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2026684

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.3 was provided and supported the appraised value.

Cleared

XXXX

2027370

1 of 3

XXXX

XX/XX/XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than 10% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Recording Fees. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Final SS provided showing the final recording fees of XXXX, therefore the borrower would have already been refunded the difference XXXX recording fees and no cure should be needed since the final fee is within tolerance

Rebuttal 2 (XX/XX/XXXX XXXX)
Final CD provided along with the final SS confirm the final recording fee was within tolerance so no cure is needed

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is not sufficient to cure the finding. The Final Settlement Statement has been provided to disclose the Final recording amount. Please provide a PCCD LOE and PCCD to borrower with final fees for review. A cost t cure XXXX the amount of XXXX remains. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027370

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027370

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of 1.0 with a date of XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2026683

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026683

2 of 4

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Credit report was issued 4 days prior to closing XXXX

Response 1 (XX/XX/XXXX XXXX)
Explanation received is sufficient. (Void)

XXXX

2026683

3 of 4

XXXX

XX/XX/XXXX

Credit

DTI - Exceeds Guidelines

XXXX

Lender exception in the file to allow DTI of XX% which is higher than the maximum of XX% allowed for borrower living rent free. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Approved exception provided

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating Factors: LTV of XXXX at least 5% less than guideline maximum, Fico of XXX is at lease 20 points higher than guideline minimum, borrower has a prior rental history with 0x30 through XX/XX/XXXX prior to current rent free,

XXXX

2026683

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2023941

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023941

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
udm provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023941

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2023937

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument is inconsistent with the Title. Title reflects current Vested Interest as XXXX and XXXX, whereas the Security Instrument reflects XXXX. There is no evidence of a transfer deed in the loan file for the change.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
deed provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2023937

2 of 3

XXXX

XX/XX/XXXX

Credit

Title Commitment - Other

XXXX

The title commitment reflects on Schedule B-1 #6 record satisfaction, release, or proof on non-identity relating to judgment and/or liens against XXXX (joint on title with borrower) recorded in XX Book XXXX, Page XX, Public Records of XXX County, XXXX. File does not contain proof of non-identity or satisfaction of judgment/lien(s) or updated title supplement to clear said judgment/lien(s) as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Affidavit and confirmation to be removed

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023937

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.6.

Cleared

XXXX

2034746

1 of 3

XXXX

XX/XX/XXXX

Compliance

TRID - CD/Lender Credits that Cannot Decrease (No Valid COC)

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
lock confirmation confirms change XXXX pricing due to non-warrantable condo

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2034746

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Document provided as required. (Resolved)

XXXX

2034746

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2027371

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following Rider is missing: PUD Rider. In addition, Page 2 was also not accurately marked.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
PUD rider with corrective affidavit provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2027371

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027371

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score 1.

Cleared

XXXX

2027379

1 of 3

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A.

Acknowledged

XXXX

2027379

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027379

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.5.

Cleared

XXXX

2031244

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031244

2 of 4

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Lender exception in file as credit report reflected a XXXX revolving account that is in dispute with a balance of $XXX and required a credit supplement to reflect account had been resolved. The required credit supplement was not provided. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Investor has approved Lender Exception.

Response 1 (XX/XX/XXXX XXXX)
Lender exception approved by investor to waive based on compensating factors. (Waived)

Compensating factors: LTV less than XX% and at least 5% less than the guidelines maximum, Fico of XXX at lease 20 points higher than guideline minimum, housing payment history 0x30x24, borrower worked XXXX same job for more than 3 years.

XXXX

2031244

3 of 4

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031244

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.5 was provided and supported the appraised value.

Cleared

XXXX

2031241

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031241

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031241

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2033628

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033628

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033628

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2023938

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023938

2 of 4

XXXX

XX/XX/XXXX

Credit

Income - Other/Missing

XXXX

Bank statement program. Underwriting Summary in the file reflects 12 month's business bank statements from 2 bank accounts with XX Bank used for qualifying income of $XXXX per month. The file only contains the 1st page (summary page) of the income worksheet and does not contain the break down of deposits and exclusions for each account for the 12 months. Please provide to confirm the qualifying monthly income. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
All pages provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023938

3 of 4

XXXX

XX/XX/XXXX

Credit

Property - Previously Listed for Sale

XXXX

The property was offered for sale XX/XX/XXXX and withdrawn on XX/XX/XXXX and the initial application date was XX/XX/XXXX which is acceptable per the guidelines (on or after the application date). Guidelines require the borrower to confirm in writing reason for the prior listing and intent to occupy the subject property and is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Can we proceed without? This is the borrowers only owned property and was part of a land contract with the previous owners. They were holding title until this transaction was complete. The borrowers signed an occupancy affidavit confirming occupancy

Rebuttal 2 (XX/XX/XXXX XXXX)
LOE provided

Response 1 (XX/XX/XXXX XXXX)
This is a guideline requirement. An Investor exception would be required. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023938

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score 1.5.

Cleared

XXXX

2034747

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2034747

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Subject closed in the name of an entity. The investor guides required a Certificate of Good Standing. Required documentation not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
COGs provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2034747

3 of 3

XXXX

XX/XX/XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at 2.5 or under to support the origination appraised value. CU did not provide a score due to non-UAD property.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
CDA provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2026685

1 of 3

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2026685

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026685

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2026686

1 of 3

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2026686

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026686

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of 1.0 dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2026687

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026687

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026687

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.0.

Cleared

XXXX

2031242

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031242

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031242

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 2.2.

Cleared

XXXX

2034749

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2034749

2 of 4

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2034749

3 of 4

XXXX

XX/XX/XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The subject an attached home located in a Condo/Pud community. The master insurance policy for the homeowners association, XXXX was not provided as required. Additional conditions may apply upon receipt of policy.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Master provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2034749

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.1 was provided and supported the appraised value.

Cleared

XXXX

2027377

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027377

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027377

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2027376

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027376

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2027376

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2033629

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033629

2 of 3

XXXX

XX/XX/XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The subject loan was a purchase with a qualifying credit score of XXX and a DTI of XX%. The maximum allowable LTV was XX% with a DTI over XX%. The subject loan amount of $XXXX and property appraised value of $XXXX results in an LTV of XX% which exceeded program guidelines. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
exception provided

Response 1 (XX/XX/XXXX XXXX)
Investor has approved to waive based on compensating factors. (Waived)

Compensating Factors: Employed with the same employer as a XXXX for 8 years, XXXX post-closing reserves.

XXXX

2033629

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2031243

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031243

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provide

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2031243

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2026689

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026689

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026689

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

Cleared

XXXX

2036802

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2036802

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2036802

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2023943

1 of 4

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The notary section is missing the name of the county where the closing took place.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
recorded mortgage provided

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2023943

2 of 4

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Documentation provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2023943

3 of 4

XXXX

XX/XX/XXXX

Credit

DTI - Exceeds Guidelines

XXXX

Lender exception in file for DTI greater than XX% with LTV of XX%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Exception provided

Response 1 (XX/XX/XXXX XXXX)
Investor approved lender exception to waive based on compensating factors. (Waived)

Compensating factors: Fico higher than XXX and at least 20 points higher than guideline minimum, borrower has worked XXXX the same mob for more than 3 years and has worked XXXX the same industry more than 5 years. 20 months of 0x30 on mortgage.

XXXX

2023943

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2026690

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2026690

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026690

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.0.

Cleared

XXXX

2023940

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2023940

2 of 3

XXXX

XX/XX/XXXX

Credit

Appraisal - Other

XXXX

The subject is a SFR and has a full ADU with kitchen, bedroom bathroom and living area. None of the comparable sales had an ADU. Per the investor guidelines appraisal is required to have at least one comparable sale with similar use to be provided to demonstrate use is typical to the area. Appraisal did not contain a comparable sale with a similar ADU.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
The appraiser has addressed this request within the report. Please see the Addendum section on page 12. Thank you, PER APPRAISAL: Comments on Sales Comparison XX/XX/XXXX: THE SUBJECT HAS AN ADU. I EXTENDED THE SEARCH PARAMETERS FOR SALES XXXX THE LAST 2 YEARS AND XXXX XXXX. I WAS NOT ABLE TO FIND A SALE WITH AN ADU. THERE IS NO AFFECT ON ITS MARKETABILITY.

Rebuttal 2 (XX/XX/XXXX XXXX)
Approved exception provided

Response 1 (XX/XX/XXXX XXXX)
The appraiser may have to exceed sales timeframe and proximity XXXX order to provide a property with an ADU. Otherwise, an exception will be required. (Upheld)

Response 2 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

XX% LTV. XXX score. XXXX months of reserves.

XXXX

2023940

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 2.3 was provided and supported the appraised value.

Cleared

XXXX

2034752

1 of 5

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2034752

2 of 5

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Rebuttal 2 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2034752

3 of 5

XXXX

XX/XX/XXXX

Credit

Debts - Not Verified

XXXX

Borrower owns an additional property located on XXXX and XXXX Mortgage statement and payment history were provided. The mortgage history reflected balance and all payments in XXXX. The file did not contain a currency convertor to support the actual payment in US dollars. Monthly payment could not be verified.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Conversion provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2034752

4 of 5

XXXX

XX/XX/XXXX

Credit

Income - Other

XXXX

The qualifying income was documented utilizing XXX 1120s returns from XXXX Inc. and personal tax returns. Per the investor guidelines, when income from the most recently filed tax return with no tax transcripts, file must contain evidence the most recently filed tax return have been filed by copy of officially stamped tax returns by the IRS or proof of E-filing and proof of refund or tax payment. Required documentation was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
XXXX tax transcript showing a refund of XXXX which matches the refund on tax returns which evidences the same tax returns were used to file with IRS.

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2034752

5 of 5

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2031245

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2031245

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2031245

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score 2.1.

Cleared

XXXX

2034750

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2034750

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2034750

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.81 was provided and supported the appraised value.

Cleared

XXXX

2034751

1 of 3

XXXX

XX/XX/XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Prepayment Addendum to the Note is missing page 2 of 2.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
The documentation provided is sufficient to cure the finding. (Resolved)

XXXX

2034751

2 of 3

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Subject is a XXXX unit property and the appraisal indicated that both units were rented. The loan file did not contain copies of the leases to support the rent income used in the DSCR calculation.

Void

Rebuttal 1 (XX/XX/XXXX XXXX)
Please use the amounts on the appraisal

Response 1 (XX/XX/XXXX XXXX)
Rent confirmed on the appraisal rent schedule is sufficient. (Void)

XXXX

2034751

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2026693

1 of 3

XXXX

XX/XX/XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-1 provided in the loan file was the FINAL binding HUD-1. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8, Appendix A

Acknowledged

XXXX

2026693

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2026693

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is 1.0.

Cleared

XXXX

2027373

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2027373

2 of 3

XXXX

XX/XX/XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
UDM provided

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2027373

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2033631

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033631

2 of 4

XXXX

XX/XX/XXXX

Credit

Contract Addendum - Missing

XXXX

The final closing disclosure reflected $XXXX in interested party contributions. The addendum to the sales contract addressing the interested party contributions was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
Documentation received is sufficient. (Resolved)

XXXX

2033631

3 of 4

XXXX

XX/XX/XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception in the file approving the DSCR of .845 in lieu of the required 1.00. Investor guidelines allowed DSCRs less than 1%; however, required a second level review. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Attached

Response 1 (XX/XX/XXXX XXXX)
Waiver granted by Investor. (Waived)

Compensating factors: Housing payments XXXX better, XXXX months of post closing reserves, credit score of XXX higher than the guidelines minimum required.

XXXX

2033631

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.2 was provided and supported the appraised value.

Cleared

XXXX

2033632

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033632

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033632

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is 1.

Cleared

XXXX

2033634

1 of 3

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2033634

2 of 3

XXXX

XX/XX/XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2033634

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 2.4 was provided and supported the appraised value.

Cleared

XXXX

2036803

1 of 4

XXXX

XX/XX/XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2036803

2 of 4

XXXX

XX/XX/XXXX

Credit

Credit Report - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XXXX)
ATTACHED

Response 1 (XX/XX/XXXX XXXX)
Document provided as required. (Resolved)

XXXX

2036803

3 of 4

XXXX

XX/XX/XXXX

Credit

Income - Tax Transcripts Missing

XXXX

Lender exception in file for missing the current year 1099 tax transcript supporting income. Allowed the use of the 1099 NEC Summary report matching 1099 income in lieu of the transcripts. Client to approved down grading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Investor approved to waive.

Response 1 (XX/XX/XXXX XXXX)
Investor approved to waive based on compensating factors. (Waived)

Compensating factors: Post closing reserves of XXXX months PITIA, low DTI of XXXX%, housing payments on additional properties owned XXXX, more than 3 years with current employment, residual income of XXXX.

XXXX

2036803

4 of 4

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1 was provided and supported the appraised value.

Cleared

XXXX

2033633

1 of 3

XXXX

XX/XX/XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2033633

2 of 3

XXXX

XX/XX/XXXX

Credit

Program Parameters - Other

XXXX

Lender exception in file to allow bank statement income for self-employed borrower with only 17 months with current business without proof of being within the same field for 4 years prior as required by investor guidelines. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XXXX)
Exception provided

Response 1 (XX/XX/XXXX XXXX)
Investor has approved to waive based on compensating factors. (Waived)

Compensating factors: Residual income of XXXX, LTV is 5% less than guidelines max, 33 months of post closing PITIA reserves. Mortgage history on additional property owned 3x30x36 months.

XXXX

2033633

3 of 3

XXXX

XX/XX/XXXX

Valuation

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

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of 1.9 was provided and supported the appraised value.

Cleared