EF MORTGAGE DEPOSITOR III LLC ABS-15G
Exhibit 99.03
| 223198256 | XXX | 33228229 | Credit | Insurance | Insurance Analysis | Insurance | Insufficient Coverage: Hazard insurance coverage amount is insufficient. | Verified dwelling coverage plus extended replacement coverage is smaller than appraised value minus site value per appraisal. | Reviewer Comment (2025-04-14): Sufficient hazard coverage provided Seller Comment (2025-04-14): The second appraisal was used for value - value [redacted]. minus the site value of [redacted]= [redacted]. The dwelling coverage is $[redacted] as per hazard insurance policy along with replacement cost is sufficient coverage. |
04/14/2025 | 1 | C | A | C | A | C | A | C | A | C | A | XXX | Primary | Refinance | C | A | C | A | A | A | No | ||||||||||||||||
| 223268640 | XXX | 33310160 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Missing housing history payment on subject property. | Reviewer Comment (2025-04-21): Payment history provided Seller Comment (2025-04-21): document is for [redacted] but labeled as [redacted] in error Seller Comment (2025-04-21): please see attached |
04/21/2025 | 1 | C | A | C | A | C | A | C | A | C | A | XXX | Primary | Refinance | C | A | C | A | A | A | No | ||||||||||||||||
| 223316275 | XXX | 33387165 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | File does not meet minimum RI of $[redacted] due to the use of dissipating income from net proceeds per FA using $[redacted] as per HUD there is only $[redacted] available causing a shortage. | Reviewer Comment (2025-05-07): Corrected FA worksheet provided. Required residual income corrected to $[redacted] based off [redacted] household members per guidelines. Seller Comment (2025-05-06): Please see attached updated FAW with correct assets dissipated. |
05/07/2025 | 1 | C | A | C | A | C | A | C | A | C | A | XXX | Primary | Refinance | C | A | C | A | A | A | No | ||||||||||||||||
| 223363539 | XXX | 33427727 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Insurance Verification document is missing for REO property "[redacted]" | Reviewer Comment (2025-05-16): Insurance Verification received and associated. Exception cleared. Seller Comment (2025-05-15): please see attached Reviewer Comment (2025-05-13): Missing proof of monthly hazard insurance fee. Not looking for payment history but still need proof of amount used to determine residual income. Seller Comment (2025-05-12): HOI history only required for subject property on Plat loans |
05/16/2025 | 1 | C | A | C | A | C | A | C | A | C | A | XXX | Primary | Refinance | C | A | C | A | A | A | No | |||||||||||||||
| 223469657 | XXX | 33547731 | Credit | HECM | General | HECM | The FACTA Disclosure was not provided. | - | Reviewer Comment (2025-06-16): FACTA provided Seller Comment (2025-06-13): Please see attached Reviewer Comment (2025-06-09): Required FACTA Disclosure with FICO score to clear the exception. Exception Remains. Seller Comment (2025-06-06): Please see attached |
06/16/2025 | 1 | B | A | B | A | B | A | B | A | B | A | XXX | Primary | Refinance | B | A | B | A | A | A | No | ||||||||||||||||
| 223553671 | XXX | 33684396 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Required residual income is $[redacted] and verified residual income is $[redacted]. FA worksheet is grossing up social security income and guidelines do not state grossing up income is allowed to qualify, | Reviewer Comment (2025-06-24): Lender exception approved with comp factors of FICO is above [redacted] which exceed guidelines by at least [redacted]points, borrower owned subject property at least[redacted] years, LTV is less than or equal to[redacted]% and property charge payment history. Seller Comment (2025-06-24): Please see attached exception |
06/24/2025 | 1 | C | A | C | A | C | A | C | A | C | A | XXX | Primary | Refinance | C | A | C | A | A | A | No | ||||||||||||||||
| 223553677 | XXX | 33674166 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. Secondary valuation is missing. Sec ID: 2 | Exception fired for missing Secondary valuation. | Reviewer Comment (2025-06-20): Desk review provided Reviewer Comment (2025-06-20): Guideliens state: [redacted] appraisal with estimated value up to $[redacted] plus an independent Collateral Desktop Analysis. Seller Comment (2025-06-20): please clarify [redacted] appraisal is less than [redacted] million |
06/20/2025 | 1 | D | A | D | A | D | A | D | A | D | A | XXX | Primary | Refinance | D | A | C | A | D | A | No |