Loan Number

Seller Loan Number

Borrower 1 Last Name

Borrower 1 First Name

Borrower 2 Guarantor Flag

Borrower 2 Last Name

Borrower 2 First Name

Borrower 3 Guarantor Flag

Borrower 3 Last Name

Borrower 3 First Name

Borrower 4 Guarantor Flag

Borrower 4 Last Name

Borrower 4 First Name

Borrowing Entity Name

Borrower 2 Borrowing Entity Name

Address Street

Address Street 2

Address City

Address State

Address Zip

Loan Type

Product Type

Amortization Type

Note Status

Original Principal Balance

Note Date

First Payment Date

Note Rate

Note P&I

Payment Frequency

Maturity Date

Note Term

Amortized Term

Balloon

Balloon Term

Interest Only Period

Interest Only Term

Prepayment Penalty

Prepayment Penalty Term

Prepayment Penalty Type

Buydown

Buydown Period

Index

Look Back Period

Margin

Rounding Method

Max Rate At First Adj

Min Rate At First Adj

Rate Change Frequency

Payment Change Frequency

First Rate Change Date

First Payment Change Date

Next Rate Change Date

Next Pay Change Date

Periodic Rate Cap

Negative Amortization Principal Cap

Periodic Payment Cap Code

Maximum Rate

Minimum Rate

Lender Name

Origination Channel

Loan Modified

Reason For Modification

Mod Product Type

Modified Note Status

Modified Note Date

Note Amort Type Mod

Loan Amount Mod

Note Rate Mod

Note P&I Mod

Payment Frequency Mod

First Payment Date Mod

Maturity Date Mod

Loan Term Mod

Balloon Mod

Balloon Term Mod

Interest Only Period Mod

Interest Only Term Mod

Index Mod

Lookback Period Mod

Margin Mod

Rounding Method Mod

Max Rate At First Adj Mod

Min Rate At First Adj Mod

Rate Change Frequency Mod

Pay Change Frequency Mod

First Rate Change Date Mod

First Payment Change Date Mod

Next Rate Change Date Mod

Next Pay Change Date Mod

Periodic Rate Cap Mod

Negative Amortization Principal Cap Mod

Periodic Payment Cap Code Mod

Maximum Rate Mod

Minimum Rate Mod

Occupancy

Loan Purpose

Cash To Borrower At Close

Total Cash Out

Appraisal Status

Appraisal Form

Appraisal Date

Appraised Value

Sales Price

Value for LTV

Property Type

Number of Units

Year Built

Location

Occupancy Status

Appraisal Made

Site Value

Appraisal Review Type

Appraisal Review Value

LTV

CLTV

HCLTV

Mortgage Status

County

MIN Number

Transaction Date

Assumable

Mandatory Arbitration

Mortgage Insurance Required Indicator

Mortgage Cert in File

MI Paid By Borrower or Lender

MI Cert Number

MI Company

MI Percent of Coverage

MI Monthly Payment

Lien Position

Title Status

Other Liens

Other Lien Balance

Other Lien Payment

Title Doc Type

Title Interest Type

Property Tax Amount

Hazard Insurance Premium Amount

Flood Insurance Issuer

Flood Insurance Policy Mandatory

Flood Insurance Premium Amount

HOA Monthly Premium Amount

Application Status

Application Date

Number In Household

Relocation Loan

Credit Report Status

Credit Report Date

Longest Tradeline

Max Tradeline Amount

Number of Tradelines Open

Late Payments x30

Late Payments x60

Late Payments x90

Borrower 1 SSN

Borrower 1 Date of Birth

Borrower 1 Age

Borrower 1 Occupation

Borrower 1 Years On Job

Borrower 1 Years In Field

Borrower 1 Self Employed

Borrower 1 First Time Home Buyer

Borrower 1 Gender

Borrower 1 US Citizen

Borrower 1 Permanent Resident

Borrower 1 Non Permanent Resident

Borrower 1 Residency Basis Type

Borrower 1 Residency Duration Years

Borrower 1 Ethnicity

Borrower 1 Race

Borrower 1 Race 2

Borrower 1 Race 3

Borrower 1 Race 4

Borrower 1 Race 5

Borrower 1 Equifax Credit Score

Borrower 1 Experian Credit Score

Borrower 1 Transunion Credit Score

Borrower 1 Total Income

Borrower 2 SSN

Borrower 2 Date Of Birth

Borrower 2 Age

Borrower 2 Occupation

Borrower 2 Years On Job

Borrower 2 Years In Field

Borrower 2 Self Employed

Borrower 2 First Time Home Buyer

Borrower 2 Gender

Borrower 2 US Citizen

Borrower 2 Permanent Resident

Borrower 2 Non Permanent Resident

Borrower 2 Residency Basis Type

Borrower 2 Residency Duration Years

Borrower 2 Ethnicity

Borrower 2 Race

Borrower 2 Race 2

Borrower 2 Race 3

Borrower 2 Race 4

Borrower 2 Race 5

Borrower 2 Equifax Credit Score

Borrower 2 Experian Credit Score

Borrower 2 Transunion Credit Score

Borrower 2 Total Income

Current Balance

Current P&I

Representative Credit Score

Total Monthly Income

Total Remaining Gross Monthly Income

DTI (Front)

DTI (Back)

Total Monthly Expenses

Primary Residence Expense

Total Assets

Effective Amount (Assets Used)

Liquid Assets

Total Cash Required From Borrower

Cash Reserves

Months PITI Reserves

Months PITI Reserves (Qual Rate)

Qualification Method

Qualifying Rate

Qualifying P&I

DTI Qualifying (Front)

DTI Qualifying (Back)

Loan Doc Type

AUS Underwritten

What AUS Was Used

AUS Grade

HUD 1 Status

Disbursement Date

Good Faith Estimate Status

ROR Status

Early TIL Status

Corrected TIL Status

Final TIL Status

Active Material Exceptions

Active Non-Material Exceptions

Satisfied Exceptions

Waived Exceptions

Compensating Factors

General Comments

Loan Level ATR/QM Status

Initial Securitization Overall Grade

Initial Securitization Credit Grade

Initial Securitization Property Valuation Grade

Initial Securitization Compliance Grade

Final Securitization Overall Grade

Final Securitization Credit Grade

Final Securitization Property Valuations Grade

Final Securitization Compliance Grade

Initial S&P Overall Grade

Initial S&P Credit Grade

Initial S&P Property Valuation Grade

Initial S&P Compliance Grade

Final S&P Overall Grade

Final S&P Credit Grade

Final S&P Property Valuations Grade

Final S&P Compliance Grade

Borrower 1 Income Doc Type Summary

Borrower 2 Income Doc Type Summary

Borrower 3 Income Doc Type Summary

Borrower 4 Income Doc Type Summary

80000110434

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX )

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Title Report

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX% versus XXX higher priced loan XXX rate of XXX% for a variance of XXX% exceeding the XXX higher priced loan rate spread trigger of XXX%.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing AVM to support the value of $XXX.

- Client/Seller Response Comments: XXX - XXX supporting origination value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower with same employer for XXX years.

INCOME

XXX- Borrower is XXX-see attached income worksheet. Using only XXX income to qualify. Using lenders calcs. as most conservative.

Assets-N/A

QM: Rebuttable Presumption

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80000111805

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX% versus XXX higher priced loan XXX rate of XXX% for a variance of XXX% exceeding the XXX higher priced loan rate spread trigger of XXX%.

XXX: Documentation: Missing Rider

- Initial XXX Comments: Missing XXX Rider.

- Client/Seller Response Comments: XXX Lender provided only a LOE stating that the property is not a XXX; it is not from the XXX. Exception remains. XXX - After further review at client request, exception remains. XXX in file reflects that subject is located in XXX. However, there is no XXX Rider noted or attached to the Deed of Trust.XXX: Lender provided a corrected, fully executed recorded mortgage with the XXX rider attached.Exception satisfied.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years at current employer

XXX: Good credit history

- XXX Comments: No late payments in borrower's history

XXX: Significant time in profession

- XXX Comments: Borrower has XXX years in the industry

Income: Borrower paid XXX-monthly of XXX = XXX monthly

QM: Rebuttable Presumption

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80000111681

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX)

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Title Search

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Income/Employment: Verbal verification of employment missing

- Initial XXX Comments: Missing verbal VOE dated within XXX days of mortgage date as required by guidelines.

- Client/Seller Response Comments: XXX Lender provided the XXX dated XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Ability to Repay/Qualified Mortgage: XXX - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status.

- Initial XXX Comments: Missing verbal VOE supporting XXX-year employment history.

- Client/Seller Response Comments: XXX Lender provided the XXX dated XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: XXX Lender provided the Verbal VOE however it is dated XXX of which is > XXX from disbursement date of XXX.

- Client/Seller Response Comments: XXX Lender provided the Verbal XXX however it is dated XXX of which is > XXX from disbursement date of XXX. Exception remains.XXX Lender provided the XXX dated XXX

- XXX Conclusion Comments: XXX Exception satisfied.

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower has been on current job for XXX years.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been on current job for XXX years.

INCOME:

Borrower earns $XXX per hour. $XXX = $XXX per month, plus per XXX receives $XXX per month in child support for a total of XXX per month.

Assets not required.

QM: Rebuttable Presumption

Award Letter - XXX months;

Paystub - XXX months;

W2 - XXX months

(No Data)

80000111365

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Abstract of Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX - AVM supporting origination value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: The borrower has been self employed for XXX years.

XXX: Additional documented income not used in qualifying

- XXX Comments: The borrower has partnership income that was not used to qualify because it was not needed

XXX: Credit score exceeds guidelines

- XXX Comments: The borrower's credit score is XXX, XXX points above the required XXX score.

Income:

The borrower's self-employed income averaged over XXX & XXX was calculated to be : (XXX) / XXX = $XXX per month. The lender used XXX so this figure was used since it is a more conservative estimate

Assets:

Reserves are not required

QM: Rebuttable Presumption

Business Tax Return - XXX months;

P & L - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80000114386

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Title Search

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: XXX verification found Loan Originator Name does not match the loan documents. XXX has middle name.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrowers have lived in the subject property for XXX years.

CFCFS1735: Co-Borrower has significant time at current job

- XXX Comments: Co-borrower has been with current employer for XXX years.

Income:

- B1 has Social Security income of $XXX/month using an award letter provided in the file. Gross monthly amount $XXX with XXX% non-taxable portion grossed up by XXX%.

- B1 has XXX distribution income of $XXX/month using XXX month average of XXX XXX and supported by XXX XXX provided in the file. XXX years continuance verified with XXX account statements provided in the file.

B2 is paid $XXX/hour at XXX hours/week or XXX/month using paystubs and supported by XXX W2's provided in the file.

Assets:

Assets not required or verified. Product matrix does not indicate any reserve requirements.

QM: Rebuttable Presumption

Award Letter - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80000116539

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX)

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: Qualifying LTV/CLTV is XXX%; max per guidelines is XXX%

INCOME-

Borrower is retired and receives pension in the amount of $XXX monthly.

ASSETS-

N/A

REO-

No addtl XXX

QM: Safe Harbor

Award Letter - XXX months

(No Data)

80000118802

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been with current employer for XXX years

XXX: Significant time at current residence

- XXX Comments: Borrower has been at current residence for XXX years

Income WVOE in file shows paid $XXX paid biweekly XXX= $XXX

LAST XXX YEARS XXX SUPPORTS. ALSO HAS BONUS INCOME NOT USING

NO ASSETS IN FILE OR NEEDED.

QM: Safe Harbor

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80000118876

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Abstract of Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Terms/Guidelines: Missing lender's loan approval/underwriting form

- Initial XXX Comments: Provide the Lender's loan approval/underwriting form

- XXX Conclusion Comments: XXX - After further review by XXX, exception graded B. Ratios taken from Compliance Ease.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation to support appraised value of $XXX

- Client/Seller Response Comments: XXX - XXX received with value of $XXX supporting appraised value.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: XXX years at XXX Systems

XXX: Postive mortgage payment history

- XXX Comments: XXX mos. mtg history reviewed XXX days. Paid as agreed

XXX: Significant time at current residence

- XXX Comments: XXX years current residence

Income: Borrowers hourly rate is $XXX weekly x XXX =XXX base plus XXX XXX income averaged over XXX months YTD= XXX monthly

Assets not required

QM: Rebuttable Presumption

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80000119141

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value of $XXX.

- Client/Seller Response Comments: XXX - XXX received with value of $XXX.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX with value of $XXX does not support origination value of $XXX. Variance of -XXX%. A XXX is required.

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%.

XXX: Significant time at current residence

- XXX Comments: Borrowers have resided at the subject property for XXX years.

XXX: Consumer credit history exceeds guidelines

- XXX Comments: Borrowers have a credit history dating back to XXX with no derogatory accounts or late payments.

INCOME:

B1: Per XXX and XXX statement, Borrower earns pension income of $XXX and XXX income of XXX per month. Total monthly income is XXX.

B2: Per XXX and XXX statement, Co-Borrower earns pension income of $XXX and XXX income of XXX per month. Total monthly income is XXX.

QM: Safe Harbor

Award Letter - XXX months;

W2 - XXX months

Award Letter - XXX months;

W2 - XXX months

(No Data)

80000120398

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Start Rate

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Borrower's credit score is XXX, guideline maximum is XXX.

XXX: LTV below guideline requirements

- XXX Comments: CLTV is XXX%. Guideline maximum CLTV is XXX%.

XXX: Postive mortgage payment history

- XXX Comments: Credit report reflects no mortgage delinquency for XXX months. Guidelines requires no mortgage delinquency for XXX months.

XXX: Significant time at current residence

- XXX Comments: Borrower is at current residence for XXX years.

XXX: Significant time in profession

- XXX Comments: Borrower is in profession for XXX years.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Mortgage payment history of XXX months exceeds guidelines of XXX months.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has significant time at current job of XXX years.

Income of $XXX per month. Income is based on the borrower's XXX schedule C- income calculation in file.

Income is supported by: XXX and XXX personal tax returns and XXX and verbal verification of employment.

Asset/reserves- not required per guidelines.

QM: Safe Harbor

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80000120797

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Desk Review

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Abstract of Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX with value of $XXX does not support origination value of $XXX. Variance of -XXX%. A XXX is required.

- Client/Seller Response Comments: XXX XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-Borrower has been on current job for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrowers have been at current residence for XXX years.

XXX: Postive mortgage payment history

- XXX Comments: Positive mortgage payment history in the last XXX months XXX.

Income:

Borrower1: Borrower is paid a base annual salary of XXX monthly; supported by XXX

Borrower1: Borrower is paid Bonus income; calculated using XXX average income of XXX due to declining income from XXX from XXX; XXX monthly.

Borrower2: Borrower is paid hourly on a base bi-weekly salary of XXX monthly; supported by XXX pay stubs and XXX's.

Assets/reserves not verified. Product matrix does not indicate any reserve requirements.

QM: Rebuttable Presumption

Verbal VOE with Income - XXX months;

Written VOE - XXX months

Paystub - XXX months;

W2 - XXX months

(No Data)

80000122228

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Enhanced Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Consumer Protection: XXX - No Evidence that XXX was delivered to the borrower

- Initial XXX Comments: No Evidence that XXX was delivered to the borrower

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: XXX is not an exact match to the file documents.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: FICO score of XXX is XXX points higher than the required score of XXX.

XXX: LTV below guideline requirements

- XXX Comments: CLTV XXX% is XXX% lower than the maximum CLTV of XXX%.

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% is XXX% lower than the maximum DTI of XXX%.

Income: B1: Salary $XXX per XXX=XXX, XXX YTD paystub XXX, XXX XXX and XXX XXX XXX. Used YTD + XXX years XXX.

B2: XXX Weekly Salary XXX, XXX YTD XXX, XXX XXX and XXX XXX. Used the XXX XXX earnings of XXX.

Assets: CD required $XXX. No Assets Required.

QM: Rebuttable Presumption

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

W2 - XXX months

(No Data)

80000123271

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: Originator name on loan documents includes first and last name only. Name in XXX includes variations but not an exact match.

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX dated XXX with value of $XXX is > XXX% of origination value of $XXX. A XXX is required.

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Borrower Credit Score is XXX, minimum is XXX.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been with current employer for XXX years.

Income:

Base

XXX

Commission

XXX (XXX and W2 XXX when acquisition occurred)+XXX (XXX XXX) /XXX=XXX

Base + Commission

XXX

Lender total is XXX. Used lender total to be conservative.

XXX years tax returns provided as borrowers commission income is >XXX% of total income. Note in file from lender stating per search, Clarivate Analytics acquired XXX.

Assets:

No assets/reserves required per guidelines.

QM: Rebuttable Presumption

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80000123785

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: Provide VVOE for B2 within XXX days prior to closing date.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value $XXX.

- Client/Seller Response Comments: XXX - XXX supporting origination value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Co-Borrower has significant time at current job

- XXX Comments: B2 has XXX years in same job.

XXX: DTI below guideline requirement

- XXX Comments: DTI at XXX% below guideline requirement of XXX%.

XXX: LTV below guideline requirements

- XXX Comments: LTV/CLTV is XXX%; guidelines allow XXX%.

Income: B1 Social Security XXX per the XXX XXX and XXX pension per the Lifetime Benefit Pension statement. B2 XXX per month per the pay stub dated XXX.

Assets; Not required.

QM: Safe Harbor

Award Letter - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

Paystub - XXX months;

W2 - XXX months

(No Data)

80000125979

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Loan Estimate: An XXX is missing at least XXX required data point

- Initial XXX Comments: XXX dated XXX was missing the XXX, State and the Contact information.

- XXX Conclusion Comments: XXX, Exception Satisfied since corrected on Final CD Dated XXX.

(No Data)

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Credit report reflects mortgage history of XXX payments with no delinquency.

XXX: Significant time in profession

- XXX Comments: Borrower in same profession for XXX years. Co-borrower in same profession for XXX years.

Income- B1 base XXX per month. Borrower is paid XXX-weekly (XXX) per paystub dated XXX in file.

Borrower disability per letter in file dated XXX XXX per month

Borrower retirement per XXX XXX in file XXX per month.

Co-borrower base income of $ XXX per month is verified by written verification of employment dated XXX

Co-borrower overtime is XXX per month and bonus is XXX, divided by XXX months per written verification of employment. XXX XXX & Bonus is declining year-over-year.

Assets: Not required.

QM: Rebuttable Presumption

Award Letter - XXX months;

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80000126687

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value $XXX.

- Client/Seller Response Comments: XXX - XXX received with value of $XXX supporting appraised value.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been on current job for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrower has owned the subject property for XXX years.

XXX: Consumer credit history exceeds guidelines

- XXX Comments: Borrower has had a credit history dating back to XXX with not derogatory accounts or late payments.

INCOME:

Per pay stub XXX XXX per month. Lender used XXX.

Assets are not required. Cash-Out.

QM: Rebuttable Presumption

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80000126381

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Desk Review

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Short Form Limited Final

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value $XXX.

- Client/Seller Response Comments: XXX - XXX received with value of $XXX supporting appraised value.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: The borrowers have lived in the subject property for XXX years.

XXX: LTV below guideline requirements

- XXX Comments: The CLTV is XXX%. XXX% maximum allowed.

XXX: Credit score exceeds guidelines

- XXX Comments: The borrower's credit score is XXX, or XXX points above the required XXX score.

Income:

B1 receives XXX per month in Social Security income and a monthly pension of XXX

XXX = XXX per month

B2 receives XXX per month in Social Security income

Assets:

Reserves are not required

The borrower's have XXX in verified assets

QM: Safe Harbor

Award Letter - XXX months;

Personal Bank Statements - XXX months

Award Letter - XXX months

(No Data)

80000126953

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Title Report

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Significant time in profession

- XXX Comments: The borrower has worked in the same profession for XXX years

XXX: Credit score exceeds guidelines

- XXX Comments: The borrower's credit score is XXX, XXX points higher than the required XXX score need for XXX% CLTV financing

XXX: DTI below guideline requirement

- XXX Comments: The DTI is XXX%; up to XXX% is allowed

Income:

The borrower's annual salary is XXX = XXX per month. Income supported by XXX paystub and XXX.

Assets: Assets/Reserves not required per program guidelines.

QM: Rebuttable Presumption

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80000127779

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: XXX reflects loan origination middle name, and loan documents have XXX and last name only. Can tie name to ID.

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX with value of $XXX does not support origination value of $XXX. Variance of -XXX. A XXX is required.

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX. Value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI at XXX% below guideline requirement of XXX%.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Mortgage payment history of XXX months exceeds guidelines XXX months

XXX: Significant time at current residence

- XXX Comments: Borrower resided at subject for XXX years.

Iincome: XXX in file.Commission , bonus and other income. Base salary (XXX) $XXX= XXX per month... Commission income $XXX... Bonus : XXX... Other $XXX For a total income XXX

Assets are not required.

QM: Rebuttable Presumption

IRS Transcripts – Tax Return(s) - XXX months;

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80000128977

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX to support origination value of $XXX

- Client/Seller Response Comments: XXX - XXX supporting origination value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

INCOME - Borrower paystub shows base pay $XXX to support the income

Co-Borrower income XXX shows annual pay XXX per month . Looks like borrower gets commission income this year only did not use to qualify

No Assets in file or needed , is Cash out XXX

QM: Rebuttable Presumption

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80000129874

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX)

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX% versus XXX higher priced loan XXX rate of XXX% for a variance of XXX% exceeding the XXX higher priced loan rate spread trigger of XXX%.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value $XXX

- Client/Seller Response Comments: XXX XXX received supporting origination value.

- XXX Conclusion Comments: XXX Exception satisfied.

- Related Compensating Factors:

- Significant time at current residence - Borrower resided for XXX years at subject.

- Credit score exceeds guidelines - Borrowers credit score of XXX exceeds guideline of XXX.

- Initial XXX Comments: Missing SSI award letter for co borrower to support monthly income of $XXX.

- Client/Seller Response Comments: XXX - Lender provided the SSI Award Letter for the Co-Borrower of $XXX monthly SSI pay.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Income/Employment: Income Amount is Unsupported by Documentation in File

- Initial XXX Comments: Missing SSI award letter for co borrower to support monthly income of $XXX

- Client/Seller Response Comments: XXX - Lender provided the SSI Award Letter for the Co-Borrower of $XXX monthly SSI pay.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Mortgage payment history of XXX months exceeds guidelines of XXX months

XXX: Significant time at current residence

- XXX Comments: Borrower resided for XXX years at subject.

XXX: Credit score exceeds guidelines

- XXX Comments: Borrowers credit score of XXX exceeds guideline of XXX.

INCOME:

B1: Per the loan file, Borrower is retired and receives Pension and SSI income. Pension income of XXX and SSI income of XXX for a total monthly income of XXX. Each supported by award and benefit letters.

B2: Per loan file, Co-Borrower is retired and receives Pension and SSI income. Pension income of XXX and SSI income of $XXX for a total monthly income of XXX. Pension is supported by award letter, SSI is not supported, using lender value.

QM: Rebuttable Presumption

Award Letter - XXX months;

W2 - XXX months

Award Letter - XXX months

(No Data)

80000130999

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Enhanced Automated Valuation Model

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Abstract of Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Terms/Guidelines: Missing lender's loan approval/underwriting form

- Initial XXX Comments: Provide the Lender's loan approval/underwriting form

- XXX Conclusion Comments: XXX - After further review by XXX, exception graded B. Not a guideline requirement and ratios taken from Compliance Ease.

XXX: XXX: XXX, no subsequent inspection (XXX & XXX)

- Initial XXX Comments: No inspection since the XXX XXX- XXX.

- Client/Seller Response Comments: XXX- Lender provided property inspection report reflecting no damages.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX - XXX received with value of $XXX supporting origination value

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score of XXX exceeds Program Guidelines of XXX.

XXX: DTI below guideline requirement

- Clayton Comments: DTI of XXX% is below Program Guidelines of XXX%

The Borrower's total monthly income of XXX consists of:

Income - per XXX dated XXX - Annual Salary - XXX monthly base pay. Borrower also receives bonus income in XXX of XXX and XXX of XXX - Totaling - XXX monthly.

Assets / Reserves - Not required per quidelines

QM: Rebuttable Presumption

Written VOE - XXX months

(No Data)

80000131786

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Abstract of Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Terms/Guidelines: Missing lender's loan approval/underwriting form

- Initial XXX Comments: Missing lender's loan worksheet

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value $XXX

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned home for XXX years

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Borrower has XXX past XXX mos. Min XXX mos. review per guides.

Income verified per pension award letter as XXX monthly

SSI income verified per XXX award letter $XXX monthly X XXX% =XXX.

Assets/Reserves: Verified assets of $XXX or .XXX months PITI reserves. No reserves required

QM: Rebuttable Presumption

Award Letter - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months

(No Data)

80000131863

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX)

XXX

(No Data)

XXX

Not Applicable

As-Is

Missing

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: Loan originator name reflects middle name in consumer access. Loan documents do not reflect middle name.

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX returned value of $XXX which does not support appraised value of $XXX, variance of -XXX%. A XXX is required.

- Client/Seller Response Comments: XXX XXX received XXX valued at $XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years on current job.

XXX: Significant time in profession

- XXX Comments: Borrower has XXX years in profession.

INCOME:

B1- Borrower is paid a base hourly rate of XXX hrs./XXXmo.

ASSETS: N/A

QM: Rebuttable Presumption

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80000131639

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Terms/Guidelines: Missing lender's loan approval/underwriting form

- Initial XXX Comments: Missing the loan approval worksheet.

- XXX Conclusion Comments: XXX - After further review by XXX, exception graded B. Not a guideline requirement and ratios taken from Compliance Ease.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing the XXX supporting appraised value of $XXX

- Client/Seller Response Comments: XXX XXX received valued at $XXX.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score XXX is XXX points higher than the required score of XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% is XXX% below the maximum DTI of XXX%.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Mortgage rated XXX months with XXX.

XXX: Significant time in profession

- XXX Comments: Has been in his profession for XXX years.

Income: Hourly XXX, supported with a XXX.

Bonus Income: XXX YTD XXX and XXX XXX. Used XXX YTD/XXX.

Income Used XXX.

Assets: CD Required XXX. No reserves required.

QM: Safe Harbor

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80000132519

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: Middle name missing on loan documents as opposed to XXX. Name can be tied to ID.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX supporting Appraised Value of $XXX.

- Client/Seller Response Comments: XXX XXX received value supported. $XXX

- XXX Conclusion Comments: XXX - Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score of XXX is below maximum of XXX.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower at current job for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrower resided at current residence for XXX years.

Income:

B1: Borrower is a salaried employee. His income is a XXX month average of ytd earnings per paystub ended XXX $XXX plus XXX W2 $XXX plus XXX w2 $XXX = $XXX months = $XXX per month income.

B2: Co-Borrower earns SSI. Per Social Security Award letter in file, she earns $XXX per month.

Assets: No assets were verified as they were not required.

QM: Rebuttable Presumption

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

Award Letter - XXX months

(No Data)

80000132372

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Other

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX% verse XXX higher priced loan XXX rate of XXX% for a variance of XXX% exceeding the XXX higher priced loan rate spread trigger of XXX%.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - XXX received with value of $XXX supporting origination value.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: XXX years at current residence

XXX: LTV below guideline requirements

- Clayton Comments: XXX. Max allowed is XXX%.

Income: $XXX per SSI, annuity and retirement statements.

ssi: XXX

calpers: XXX

civil service annuity: XXX

Assets: Assets not required.

QM: Rebuttable Presumption

Award Letter - XXX months

(No Data)

80000137147

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX received with value of $XXX which does not support origination value of $XXX. Variance of -XXX%. A XXX is required.

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%. Maximum allowable of XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years on job.

XXX: Significant time at current residence

- XXX Comments: Borrowers resided at subject for XXX years.

Income: Borrower is paid $XXX per hour x XXX monthly

Overtime used XXX (through XXX) and last XXX years average; XXX; XXX monthly.

Total income used is; XXX monthly

ASSETS: N/A

QM: Safe Harbor

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80000137604

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX)

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Income/Employment: Income docs do not meet guidelines

- Initial XXX Comments: Lender used overtime and bonus income to qualify; however, this income has not been received for a full XXX years. Per client guidelines, bonus or overtime will be accepted if it has been received for at least XXX consecutive years.

- Related Compensating Factors:

- LTV below guideline requirements - CLTV XXX% less than max XXX% CLTV

- Credit score exceeds guidelines - Credit Score XXX exceeds minimum score XXX.

XXX: Ability to Repay/Qualified Mortgage: XXX - Loan subject to Ability to Repay/Qualified Mortgage rule; XXX status determination places loan in a riskier status than the Lender's status determination.

- Initial XXX Comments: Compliance Ease report provided in the file reflects ATR/QM status determination of XXX; however, XXX review resulted in XXX status of non-QM: Lender documented all ATR factor which is due to recalculated DTI of XXX% DTI. Lender used overtime income of $XXX/month to qualify based on XXX month average of XXX and XXX overtime earnings. However, overtime income has significantly declined from XXX to XXX. Recalculated overtime income using XXX amount only averaged over XXX months is $XXX/month.

- Client/Seller Response Comments: XXX: Lender provided a response stating we are using the XXX W2 which was supported by the XXX earnings. The borrower received a $XXX base pay increase from XXX to XXX, and even through their overtime has decreased their bonus and base salary has increased to cover the difference. Their XXX earnings are slightly ahead of their XXX earnings. However, since the overtime income is significantly declining, prior year's overtime earnings cannot be considered in the average. Recalculated overtime income was based on XXX amount only averaged over XXX months (thru XXX).- Exception remains.XXX- Lender responded that they used the total income average of XXX which was less then the average of XXX since the borrower base income was higher.Income recalculated and DTI is now XXX%

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX supporting appraisal value of $XXX.

- Client/Seller Response Comments: XXX - XXX received with value of $XXX supporting origination value

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: DTI: Debt Ratio Exception XXX% or Less

- Initial XXX Comments: Recalculated DTI of XXX% exceeds max allowable DTI of XXX%. Lender used overtime income of $XXX/month to qualify based on XXX month average of XXX and XXX overtime earnings. However, overtime income has significantly declined from XXX to XXX. Recalculated overtime income using XXX amount only averaged over XXX months is $XXX/month.

- Client/Seller Response Comments: XXX- Lender responded that they used the total income average of XXX which was less then the average of XXX since the borrower base income was higher.Income recalculated and DTI is now XXX%

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: CLTV XXX% less than max XXX% CLTV

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds minimum score XXX.

Income -

Borrower base income supported by WVOE XXX

Overtime XXX months and Bonus XXX/month averaged XXX months.

Neither Overtime or Bonus has XXX year history as not received XXX current job. Overtime declined from XXX to XXX YTD. Will need exception for less than XXX month history receiving and declining XXX from XXX to XXX. Per guidelines -

Assets -

Not required

QM: Safe Harbor

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80000139745

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX)

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX to support the appraised value of $XXX.

- Client/Seller Response Comments: XXX - XXX received with value of $XXX supporting origination value

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score XXX exceeds XXX score

XXX: LTV below guideline requirements

- XXX Comments: CLTV of XXX% is below maximum CLTV of XXX%.

XXX: Significant time in profession

- XXX Comments: Borrower has XXX years in profession

Cash Out Refinance Primary Residence, XXX

Income -

Income $XXX supported by YTD paystub and XXX.

Assets -

None verified or required for transaction

QM: Safe Harbor

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80000139408

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: Loan documents reflects XXX full first name and middle names which does not match exactly to names listed on the loan documents.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - XXX received with value of $XXX

- XXX Conclusion Comments: XXX- Exception satisfied. However, additional exception generated since XXX does not support origination value.

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX received with value of $XXX which does not support origination value of $XXX. Variance of -XXX%. A XXX is required.

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: CLTV of XXX% below max CLTV XXX%

Income -

Borrower Income $XXX/month from YTD stub the XXX and XXX W-2. Base and XXX Combined

Assets -

No reserves required.

QM: Rebuttable Presumption

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80000142800

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Unavailable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Terms/Guidelines: Missing lender's loan approval/underwriting form

- Initial XXX Comments: Provide lenders approval worksheet.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraised value of $XXX

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: XXX Years in the same residence.

XXX: Co-Borrower has significant time at current job

- XXX Comments: On the job for XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX score.

Income:

B1: SSA income from award letter $XXX. Grossing up XXX% to bring DTI in line

B2: Weekly pay per paystub dated XXX XXX. Lender qualified with XXX month average of $XXX monthly income. YTD amt.does not support monthly amt. used to qualify by lender.XXX /XXX and YTD XXX averaged over XXX mos. =XXX. based on W-2's in file.

Assets:

No cash required.

QM: Safe Harbor

Award Letter - XXX months

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80000143557

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX Ext Only (XXX)

XXX

(No Data)

XXX

As-Is

Missing

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: XXX does not match, documents in file show name as first and last. XXX shows name with middle name and middle initial. Able to identify that the loan originator are is one and the same.

XXX: Value: Value Not Supported

- Initial XXX Comments: XXX received with no value stated. A XXX supporting origination value of $XXX is required.

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX supporting origination value of $XXX.

- Client/Seller Response Comments: XXX - XXX received with no value stated.

- XXX Conclusion Comments: XXX - Exception satisfied. However, additional exception generated since XXX does not support origination value of $XXX

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has been in same profession for XXX years.

Income was verified by paystubs and W2s XXX = XXX

Assets are not required and borrower received XXX in funds cash out at closing.

QM: Safe Harbor

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80000143115

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: The borrower has been self-employed for XXX years

XXX: Significant time in profession

- XXX Comments: The borrower has worked in the same profession for XXX years

XXX: Consumer credit history exceeds guidelines

- XXX Comments: The borrower's credit score is XXX, XXX points above the required XXX score

Income:

The borrower's income decreased from XXX to XXX so just XXX W2, XXX, & XXX were used to calculate an average monthly income of XXX. He has XXX on his XXX XXX of XXX = XXX per month

He also receives child support of XXX monthly XXX per month

Assets:

Reserves are not required and asset statements were not provided

QM: Rebuttable Presumption

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80000146347

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

Automated Valuation Model

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

Other

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing Desk Review to support the appraised value of $XXX

- Client/Seller Response Comments: XXX XXX XXX received valued at $XXX dated XXX value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: XXX years at current job.

XXX: LTV below guideline requirements

- XXX Comments: CLTV XXX. Max allowed is XXX%

XXX: Postive mortgage payment history

- XXX Comments: XXX mos. reviewed XXX days. Paid as agreed. Exceeds min of XXX mos review.

Loan Summary:

XXX mortgage home equity

Income:

B1 base-XXX. Bonus $XXX XXX Using base pay only to qualify.

Assets: Not required

QM: Safe Harbor

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80020064218

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Applicable

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Missing

(No Data)

XXX: State Prepayment Penalty: XXX - State law prohibits XXX if paid by insurance proceeds; provision not disclosed

- Initial XXX Comments: Prepayment penalty does not include a provision for being paid by insurance proceeds. Only provision is for a XXX sale but this is not effective until after the prepay penalty period.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Missing Verification of mortgage for XXX with XXX. Guidelines require all mortgages be XXX.

- Client/Seller Response Comments: XXX- Advised Lender (XXX) exceptions remaining.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned primary residence XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has owned his business for XXX years.

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves of $XXX exceed the requirement of $XXX by $XXX /XXX months.

XXX: Per appraisal, market rent is XXX

Assets: Verified post close cash reserves of XXX months. XXX months are required, XXX. Verified cash reserves of XXX exceed the requirement of XXX months.

Borrower is closing on XXX other property refinances as well. Total required reserves for all three are XXX.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Lease Agreement - XXX months

(No Data)

80020064504

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Applicable

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Not Applicable

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Missing

(No Data)

XXX: State Prepayment Penalty: XXX - State law prohibits XXX if paid by insurance proceeds; provision not disclosed

- Initial XXX Comments: Per Prepay addendum, only provision is a XXX sale. Provision for paid by insurance proceeds not present.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Missing supporting documents for VOM or cancelled checks for XXX with XXX. Have only documentation for XXX , the XXX . Both being paid on XXX.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV XXX% below guideline requirements XXX%

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds guidelines XXX.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX. XXX months reserves required ($XXX) Remaining $XXX.

Income not used for Investor Cash Flow loans. DSCR XXX% (Fair Market Rent XXX)

Assets -

Post Close Reserves XXX. XXX months reserves required XXX Remaining XXX.

Borrower is closing on XXX other property refinances as well. Total required reserves for all three are XXX.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80080704113

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: Lender provided the Verbal VOE dated XXX of which is after the note signing date of XXX.

- Client/Seller Response Comments: XXX Lender provided the approved exception form due to low DTI, low LTV and Residual Income of XXX. Approved exception noted; however, exception remains.

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - Assets: Verified XXX , Required XXX Reserves of XXX , Required Reserves XXX months PITIA subject: XXX

- LTV below guideline requirements - Maximum LTV XXX% current LTV XXX%

- DTI below guideline requirement - Maximum DTI XXX% Current DTI XXX%

XXX: XXX Integrated Disclosure: XXX - CD: Monthly XXX Amount in Projected Payments is inconsistent with annual cost in Loan Disclosure section

- Initial XXX Comments: The final CD XXX, monthly XXX amount of $XXX does not equal the XXX property costs over XXX year amount of $XXX. The monthly amount $XXX. CD reflects different value.

- Client/Seller Response Comments: XXX: Lender provided post close CD dated XXX with the correct XXX Property Costs Over Year XXX value and a letter of explanation to the borrower.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting original value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Income/Employment: Verbal verification of employment missing

- Initial XXX Comments: Missing XXX within XXX days of closing . CPA letter in file date XXX is over XXX days. Closing date XXX

- Client/Seller Response Comments: XXX- Lender provided the Verbal XXX.

- XXX Conclusion Comments: XXX - Exception satisfied. However, exception XXX created since verbal XXX completed after the note date.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets: Verified $XXX , Required $XXX Reserves of $XXX , Required Reserves XXX months PITIA subject: $XXX

XXX: LTV below guideline requirements

- XXX Comments: Maximum LTV XXX% current LTV XXX%

XXX: DTI below guideline requirement

- XXX Comments: Maximum DTI XXX% Current DTI XXX%

B1 INCOME: XXX months bank statement deposits minus overdraft and transfers from other accounts XXX Lender used XXX due to transposed number on deposit amount ion XXX deposits.

Assets: Verified XXX , Required XXX Reserves of XXX , Required Reserves XXX months PITIA subject: XXX

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080804288

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Per XXX- Loan is assumable with Lender approval

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD's dated XXX- Other Costs Section- XXX - Transfer Tax is missing payee

XXX: XXX Integrated Disclosure: XXX - CD: The value for Funds for Borrower in the XXX column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: XXX dated XXX-Calculating Cash to Close format used was XXX versionCD dated XXX-Calculating Cash to Close format used was Alternate version

XXX: XXX Integrated Disclosure: XXX - CD: The value for Total Payoffs and Payments in the XXX column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: XXX dated XXX Calculating Cash to Close format used was Standard versionCD dated XXX-Calculating Cash to Close format used was Alternate version

XXX: XXX Integrated Disclosure: XXX - CD: The value for Cash to Close in the LE column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: XXX dated XXX -Calculating Cash to Close format used was Standard versionCD dated XXX-Calculating Cash to Close format used was Alternate version

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: There is a VOE for the borrower's self-employed business but not for his W2 job with Imagine Communication

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: The borrower has been self employed for over XXX years

XXX: Significant time in profession

- XXX Comments: The borrower has worked in the same profession for XXX years

XXX: LTV below guideline requirements

- XXX Comments: The LTV is XXX; up to XXX% is allowed

XXX: Verified cash reserves exceed guidelines

- XXX Comments: The borrower needs XXX months PITI for their primary and XXX months PITI for the subject property XXX home:(XXX) + (XXX) = $XXX The borrower has $XXX in verified assets

Income:

The borrower is paid bi-weekly XXX per month

The borrower's SE income averaged from XXX & XXX K1s & XXX was calculated to be $XXX per month

The lender used $XXX so this figure was used since it is more conservative

Assets:

The borrower needs XXX months PITI for their primary and XXX months PITI for the subject property XXX home:

XXX

The borrower has XXX in verified assets

Non-QM: Lender documented all ATR UW factors

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Paystub - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80080904937

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: The value for Total Closing Costs in the XXX column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: File is missing a revised XXX dated XXX, per the Disclosure Tracking Summary on page XXX of the file.LE: XXX Calculating Cash To Close, Total Closing Costs (J), Value: XXX Calculating Cash to Close, Total Closing Costs (J) - Loan Estimate, Value: XXX

XXX: XXX Integrated Disclosure: XXX - CD: The value for Adjustments and Other Credits in the LE column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: File is missing a revised XXX dated XXX, per the Disclosure Tracking Summary on page XXX of the file.XXX: XXX Calculating Cash To Close, - Adjustments and Other Credits, Value: XXX Calculating Cash to Close, Adjustments and Other Credits - Loan Estimate, Value: -XXX

XXX: XXXIntegrated Disclosure: XXX - CD: The value for Cash to Close in the LE column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: File is missing a revised XXX dated XXX, per the Disclosure Tracking Summary on page XXX of the file.XXX: XXX : Calculating Cash To Close, Estimated Cash to Close, Value: XXX Calculating Cash to Close, Cash to Close - Loan Estimate, Value: XXX

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: XXX allows assumption after the fixed period changes to an adjustable rate. XXX does not allow.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Consumer credit history exceeds guidelines

- XXX Comments: Borrower has a credit history dating back to XXX with no XXX accounts or late payments.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been on current job for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below the guideline maximum of XXX%.

INCOME

B1: XXX months bank statements with XXX% expense factor is XXX per month.

ASSETS:

XXX; XXX required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080904809

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Error #XXX discovered on Closing Disclosure

- Initial XXX Comments: Final CD Issued XXX. Seller Address for the Additional Seller is missing on the XXX.

XXX: XXX Integrated Disclosure: XXX - Error discovered on the Loan Estimate

- Initial XXX Comments: XXX Issued XXX and Final LE XXX. Section Additional Information About this Loan. The License ID is missing the State. Satisfied per the final XXX being correct

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting value of $XXX.

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has XXX years in same profession.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Reserves $XXX; XXX months. Guidelines require XXX months.

INCOME: XXX bank statements dated XXX thru XXX provided.

See the Bank statement calculator- XXX month average is XXX monthly amount used for income.

Assets: Reserves XXX months PITI. Guidelines require XXX months.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80081004728

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Final Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for XXX appraised value of $XXX.

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Good credit history

- XXX Comments: XXX, has good credit history reflecting XXX within the last (XXX) months.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX credit score of XXX, exceeds the minimum credit score of XXX, required per guidelines.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: B1 has verified assets in the amount of $XXX and Post Closed reserves in the amount of XXX(PITIA $XXX

B1: Self Employed and income was calculated using a XXX (Schedule C XXX) Reflected Net Profit earnings in the amount of XXX monthly. B1’s income was also supported by copy of the XXX Personal Tax Return, Business License, XXX, and Proof of Business existence.

Per the Final CD dated XXX, funds in the amount of XXX were required for closing costs. B1 has verified assets in the amount of XXX and Post Closed reserves in the amount of XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080804552

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX [Last CD], Section: Other Costs, XXX, Prepaids. County/City Taxes is missing the months.

XXX: Income/Employment: Income Documentation Missing

- Initial XXX Comments: Provide the Residual Income worksheet.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX- Lender provided XXX value $XXX supporting appraisal value.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - CD: Loan consummated before end of waiting period

- Initial XXX Comments: CD Issue date is XXX ,Closing date is XXX, and the XXX day waiting period was not met. Please provide proof the initial CD was received by the borrower XXX days before the consummation date of XXX.

- Client/Seller Response Comments: XXX: Lender provided disclosure tracking for initial CD dated XXX. However, the initial CD dated XXX is not in file. Provide CD XXX. Exception remains.XXX: Lender provided initial CD dated XXX

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Co-Borrower has significant time at current job

- XXX Comments: Borrower has been S/E for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below the guideline max of XXX%.

INCOME:

Income: Borrower is Self-Employed, income derived using XXX months Bank Statements, XXX monthly pay. Income supported by Bank Statements, License and CPA Letter.

Assets:

Verified post close assets of $XXX months PITIA reserves. XXX months reserves @ XXX per month =XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081104994

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self employed for XXX years.

XXX: LTV below guideline requirements

- XXX Comments: LTV below guideline requirements XXX% vs. XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score exceeds guidelines. Min fico required XXX, mid fico is XXX

Income: Borrower is Self-Employed @ XXX% ownership, income derived using XXX months Business bank statements from XXX # XXX from XXX thru XXX monthly pay, used more conservative income using P & L Statement gross XXX

Assets/Reserves: Verified post closing XXX months PITIA reserves. XXX months PITIA reserves are required.

XXX months pitia reserves required. XXX required

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80090304123

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX - XXX months reserves required ($XXX) Remaining $XXX.

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years at current residence.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds guidelines XXX

No income used on Investor Cash Flow loans.

Market rents $XXX/ PITIA XXX DSCR

Assets -

Post Close Reserves XXX months reserves required ($XXX) Remaining XXX.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Lease Agreement - XXX months

(No Data)

80090304895

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX XXX received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years at current residence.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower at current job for XXX years.

Loan submitted under the Investor Cash XXX.

Calculation for DSCR: Lease $XXX/ PITIa $XXX= XXX DSCR

Assets:

Post Closing Assets: $XXX or XXX months pitia reserves.

XXX months pitia $XXX = $XXX required reserves.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80090304999

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Including subject loan, borrower has XXX total investor cash flow loans with XXX being the maximum. Lender approved exception in file.

- Client/Seller Response Comments: Client required approved exception.

- Clayton Conclusion Comments: Clayton final Grade XXX.

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - Post Close Reserves $XXX - XXX months reserves required ($XXX) Remaining $XXX

- Credit score exceeds guidelines - Credit Score XXX exceeds guidelines XXX.

- Significant time at current residence - Borrower has XXX years at current residence

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: HOA has < XXX% reserves in their budget. Lender approved exception in file.

- Client/Seller Response Comments: Client required approved exception.

- Clayton Conclusion Comments: Clayton final Grade XXX.

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - Post Close Reserves $XXX - XXX months reserves required ($XXX) Remaining $XXX

- Credit score exceeds guidelines - Credit Score XXX exceeds guidelines XXX.

- Significant time at current residence - Borrower has XXX years at current residence

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX - XXX months reserves required ($XXX) Remaining $XXX

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds guidelines XXX.

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years at current residence

Income not used on Investor Cash Flow loans. DSCR XXX% (using Rent $XXX/$XXX PITIA = XXX%)

Post Close Reserves $XXX months reserves required ($XXX) Remaining $XXX

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Lease Agreement - XXX months

(No Data)

80081004363

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Missing

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided XXX with a value of $XXX supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX Insurance: XXX documentation in file is incomplete

- Initial XXX Comments: The XXX in file is missing the XXX amount, and evidence of XXX coverage XXX at closing. Lender to provide XXX policies which support lender's monthly XXX payments for: 1) Hazard insurance at $XXX, 2) Hazard insurance at $XXX, and 3) XXX at $XXX

- Client/Seller Response Comments: XXX Lender provided the XXX of which every premium is in line.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Missing completed HOA Certification and valid project approval, required per Client guidelines for condominium transactions.

- Client/Seller Response Comments: XXX - Lender provided the approved exception form dated XXX.

- XXX Conclusion Comments: XXX - After further review by a XXX, exception downgraded to non-material. Borrower has been on same job and in same profession for XXX years, Co-Borrower at present employer for XXX years, with a FICO of XXX, LTV of XXX%. XXX Final Grade XXX

- Related Compensating Factors:

- Significant time at current residence - Primary residence owned XXX years.

- Borrower has significant time at current job - Primary borrower employed XXX years with current employer.

- LTV below guideline requirements - LTV is XXX%; maximum permitted is XXX% for non-owner occupies.

- Additional documented income not used in qualifying - Borrower earns $XXX/month bonus income, based on XXX-month average of VOE XXX YTD + XXX earnings, which was not used for qualifying.

- DTI below guideline requirement - DTI is XXX%; maximum permitted is XXX%.

- Verified cash reserves exceed guidelines - Cash reserves are XXX months PITI; minimum required is XXX months.

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Vesting is in the name of LLC. Missing the LLC tax identification number, required per Client guidelines.

- Client/Seller Response Comments: XXX - Lender provided the approved exception form dated XXX.

- Related Compensating Factors:

- Significant time at current residence - Primary residence owned XXX years.

- Borrower has significant time at current job - Primary borrower employed XXX years with current employer.

- LTV below guideline requirements - LTV is XXX%; maximum permitted is XXX% for non-owner occupies.

- Additional documented income not used in qualifying - Borrower earns $XXX/month bonus income, based on XXX-month average of VOE XXX YTD + XXX earnings, which was not used for qualifying.

- DTI below guideline requirement - DTI is XXX%; maximum permitted is XXX%.

- Verified cash reserves exceed guidelines - Cash reserves are XXX months PITI; minimum required is XXX months.

XXX: Significant time at current residence

- XXX Comments: Primary residence owned XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Primary borrower employed XXX years with current employer.

XXX: LTV below guideline requirements

- XXX Comments: LTV is XXX%; maximum permitted is XXX% for non-owner occupies.

XXX: Additional documented income not used in qualifying

- XXX Comments: Borrower earns $XXX/month bonus income, based on XXX-month average of VOE XXX YTD + XXX earnings, which was not used for qualifying.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%; maximum permitted is XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Cash reserves are XXX months PITI; minimum required is XXX months.

Income:

- The primary Borrower earns XXX/month based on Semi-Monthly paystub at XXX.

- The Co-Borrower's employment was not used for qualifying.

Assets: Verified post close assets of XXX months PITIA reserves. XXX months PITIA reserves are required.

ATR/QM: Not Applicable

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081004838

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX, Section: Other Costs (XXX) does not list the number of months for XXX due.

XXX: LTV/CLTV: LTV Exceeds Guideline Requirement by less than XXX%

- Initial XXX Comments: XXX% LTV shortfall. LTV is XXX% using $XXX loan amount, XXX appraised value. Max allowed for Interest Only loan is XXX%

XXX: XXX Integrated Disclosure: XXX - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least XXX business days prior to closing

- Initial XXX Comments: There is only XXX CD in the file dated XXX. Per Disclosure Tracking Details on page XXX, the file is missing the Initial CD issued on XXX.

- Client/Seller Response Comments: XXX Lender provided initial CD dated XXX and the disclosure tracking confirming same day delivery.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: XXX Integrated Disclosure: XXX - CD: Loan consummated before end of XXX

- Initial XXX Comments: CD XXX is the final CD that was provided. There is only one CD in the file dated XXX. Per Disclosure Tracking Details on page XXX, the file is missing the Initial CD issued on XXX.

- Client/Seller Response Comments: XXX: Lender provided initial CD dated XXX and the disclosure tracking confirming same day delivery.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: Assets: Asset Verification In File is Incomplete Per Requirements

- Initial XXX Comments: Missing pages for XXX statements for all XXX months used for income to qualify- XXX through XXX and XXX statements are missing pages XXX and XXX through XXX statements are missing page XXX

- Client/Seller Response Comments: XXX - Lender provided the complete bank statements for #XXX all pages.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - Loan Estimate: An XXX is missing at least XXX required data point

- Initial XXX Comments: LE XXX is missing page XXX of the disclosure.

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on last XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Lender provided XXX, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Loan score of XXX exceeds minimum required score of XXX by XXX points

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrower has XXX months reserves, XXX months required per guidelines.

XXX: Significant time at current residence

- XXX Comments: Borrowers have occupied the subject property as their current residence for XXX years.

Income:

XXX months personal bank statement program. Net deposits minus excluded =XXX. Income to each borrower is XXX per month.

Assets:

Post close reserves of XXX for XXX months, guidelines require XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Personal Bank Statements - XXX months

(No Data)

80081004287

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Current XXX minimum XXX

XXX: DTI below guideline requirement

- XXX Comments: Current DTI is XXX% max allowed is XXX% per guides

XXX: LTV below guideline requirements

- XXX Comments: Current XXX% max XXX%

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITIA reserves. XXX months PITIA reserves are required $XXX ($XXX)

Income: Borrower is Self-Employed, income derived using XXX months Business Bank Statements total net deposits less XXX% expense factor or XXX ownership = XXX - less XXX% expense factor XXX.

Assets/Reserves: Verified post close assets of XXX months PITIA reserves. XXX months PITIA reserves are required $XXX

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081104864

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: XXX month XXX statements require minimum FICO XXX. Actual XXX.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been S/E for XXX years

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum allowed of XXX%.

INCOME: Borrower is aXXX. XXX month bank statements using XXX% expense ratio per P&L = XXX per month.

ASSETS: Verified post close reserves of XXX months. XXX months required per lender 1008. XXX total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081104580

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period.

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has XXX years in same line of work

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Reserves sourced:Months PITI Reserves (Qual Rate) XXX Cash Reserves $XXX

XXX months business bank statements, XXX% owner

p/l / XXX = XXX monthly

Reserves sourced:

Months PITI Reserves (Qual Rate) XXX

Cash Reserves XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081104458

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: TRID - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CDs XXX and XXX Section Other Costs, Section Prepaids: The amount of months property taxes is prepaid is missing.

- Client/Seller Response Comments: XXX - Client provided corrected post close CD. Exception remains.

XXX: XXX Integrated Disclosure: XXX - CD: Inconsistency between the amounts disclosed for the XXX in XXX or more sections of the CD

- Initial XXX Comments: Final CD does not list the HOI that is paid outside of closing, so it appears to be collecting the wrong amount for XXX months in Other Costs, Section F.

- Client/Seller Response Comments: XXX - Client sent corrected PC CD. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Postive mortgage payment history

- XXX Comments: B1's Mortgage payment history reflects XXX within the last XXX months, which exceeds guidelines.

XXX: Borrower has significant time at current job

- XXX Comments: B1, has been Self Employed for XXX years and XXX months.

XXX: Credit score exceeds guidelines

- XXX Comments: B1's credit score of XXX, exceeds the minimum credit score of XXX, required per guidelines.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Per the Final CD dated XXX, B1, received cash back in the amount of $XXX at closing. B1, had post closed reserves in the amount of $XXX (PITIA $XXX).

B1, is Self Employed and income was calculated using a (XXX) month Business bank statement review. B1’s total wages earned from XXX was XXX Monthly. The Profit and Loss statement dated XXX reflected net income of XXX monthly. However the Lender used XXX monthly to qualify B1. B1’s income was also supported by copy of the XXX, VOE, and Proof of Business existence.

Per the Final CD dated XXX, XXX, received cash back in the amount of XXX at closing. B1, had post closed reserves in the amount of XXX (PITIA XXX).

QM: Rebuttable Presumption

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80090204555

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: The XXX month in section F of Other Costs on CDs XXX and XXX are missing the month value.

- Client/Seller Response Comments: XXX Lender provided corrected Post CD XXX with LOX and proof of delivery to borrower. Tested with no issue. Exception satisfied

- XXX Conclusion Comments: XXX Exception satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrower's have verified post closing reserves of $XXX; per guidelines, XXX months subject PITIA ($XXX)reserves are required or $XXX.

XXX: Borrower does not have any major mortgage related occurrences during the past XXX years

- XXX Comments: Borrower has perfect payment history on the subject property over the last XXX months reported on credit

XXX: DTI below guideline requirement

- XXX Comments: Max dti per guideline is XXX%, borrowers dti is XXX%

Income

B1: Bank statement income of XXX monthly, supported by XXX months personal bank statements.

Assets:

Borrower's have verified post closing reserves of XXX; per guidelines, XXX months subject PITIA XXX reserves are required or XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080704936

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Loan is assumable upon completion of fixed rate period per Note and Mortgage. Per CD not assumable. XXX and post-consummation CD within XXX days of consummation.

XXX: Appraisal: Completed "Subject To" w/o Completion Cert in File

- Initial XXX Comments: Provide completion report/addendum.

- Client/Seller Response Comments: XXX Lender provided the XXX form for renovations being completed XXX

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI below guideline requirement. DTI XXX at note rate. Max allowed is XXX%.

XXX: Good credit history

- XXX Comments: Both borrowers have good consumer credit history. XXX

XXX: Significant time in profession

- XXX Comments: Both borrowers in same line of work. B1 since XXX / B2 since XXX

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post closing $XXX or XXX months. XXX months PITI required: XXX x XXX = XXX total required reserves.

XXX MONTHS PERSONAL BANK STATEMENTS. XXX% deposits; B1: XXX/month; XXX/month; total income $XXX, verified with bank statements from XXX.

Assets: Post closing XXX months. XXX months PITI required: XXX total required reserves.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080904664

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX:XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: For CD dated XXX:]1. Other Costs section, Taxes and Other Government Fee- State Tax Stamps, are missing payee.2. Section- F Prepaid, County/City Taxes are missing number of months collected.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: XXX% LTV is XXX% below maximum LTV of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX is XXX points higher than minimum score of XXX.

XXX: Significant time in profession

- XXX Comments: Borrower has been in same business for XXX years.

XXX- XXX XXX uw

Income:

B1: Borrower paid per XXX months bank statements XXX – expenses XXX and XXX% Expense Ratio XXX.

Assets:

Borrower has XXX verified cash reserves; XXX months PITI cash reserves.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080804746

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD dated XXX- Other Costs section F Prepaids - County/City Taxes month value is missing.

XXX: XXX Integrated Disclosure: XXX - Closing Disclosure; Optional designation missing from optional insurance product

- Initial XXX Comments: CD dated XXX- Other Costs section- XXX- XXX Fee missing Optional designation when it is Borrower-paid. Provide a post close CD with the correction.

XXX: XXX Integrated Disclosure: XXX - CD: The difference between the adjustments and credits per sections XXX and XXX does not equal the Adjustments and Other Credits in the Calculating Costs to Close section

- Initial XXX Comments: CD dated XXX- Calculating Cash to Close section- Adjustments and Other Credits- Final column- amount of $XXX does not match the Adjustments and Other Credits calculation of $XXX from Summaries of Transactions. The Payoffs and Payments amount should not be calculated in the value on the Calculating Cash to Close table. Provide a post close CD with the correct Adjustments and Other Credits value on the Calculating Cash to Close table.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting the $XXX value.

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: XXX qualifying score exceeds required score of XXX by XXX points.

XXX: Significant time in profession

- XXX Comments: Borrower has worked in the current profession for XXX years.

Income B1: Borrower is Self-Employed, income derived using XXX months Personal Bank Statements of XXX (total deposits of XXX minus all unsourced deposits of XXX averaged over XXX months = XXX). Income is supported by the XXX months personal bank statements in the loan file.

Assets/Reserves: Verified post close assets of XXX reserves after closing or XXX months PITIA meeting the guidelines requirement of XXX months reserves.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081104278

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Affiliate Business Disclosure missing.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraisal value $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned his home XXX years.

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is XXX% below maximum DTI of XXX% DTI

B1: XXX months bank statements totaling XXX (excluded) – XXX% expenses per CPA Letter/XXX = XXX

Assets: Borrower has XXX in reserves;XXX months.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080904242

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: Ability to Repay/Qualified Mortgage: XXX - Loan subject to Ability to Repay/Qualified Mortgage rule; XXX status determination places loan in a better status than the Lender's status determination.

- Initial XXX Comments: Lender status is non QM. XXX reflect Rebuttable Presumption.

XXX: XXX Integrated Disclosure: XXX - CD: Monthly XXX Amount in Projected Payments is inconsistent with annual cost in Loan Disclosure section

- Initial XXX Comments: CD: XXX [Last CD], Section: Projected Payments, Message: The Estimated Monthly XXX Payment for XXX is $XXXCD: XXX [Last CD], Section: Loan Disclosures, Field: XXX Costs Over Year XXX, Value: XXX

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX correcting the XXX Costs Over Year XXX value, a letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - CD: Inconsistency between the amounts disclosed for the components of the XXX amount in Other Costs and the total XXX amount disclosed in Loan Disclosures

- Initial XXX Comments: CD: XXX [Last CD], Section: Other Costs, Message: Field: XXX AmountPerMonth, Value: $XXX CD: XXX [Last CD], Section: Other Costs, Message: Field: Property Tax AmountPerMonth, Value: $XXXCD: XXX [Last CD], Section: Other Costs, Message: Field: Mortgage insurance AmountPerMonth, Value: CD: XXX [Last CD], Section: Loan Disclosures, Field: XXX Costs Over Year XXX, Value: XXX

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX correcting the XXX Costs Over Year XXX value, a letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: Income/Employment: Income verification does not meet guidelines

- Initial XXX Comments: Co-borrower has been self employed less than XXX years due to went from W2 to XXX employee. Lender exception in file.

- Client/Seller Response Comments: XXX - Lender provided the approved exception form self employed less than XXX years due to went from W2 to XXX employee.

- XXX Conclusion Comments: XXX - After further review by a XXX, exception downgraded to non-material. Borrower has $XXX or XXX months PITIA reserves with a FICO of XXX. XXX Final Grade XXX.

- Related Compensating Factors:

- Credit score exceeds guidelines - Credit score of XXX exceeds minimum score of XXX by XXX points.

- Postive mortgage payment history - XXX months mortgage history with no late pays.

- Verified cash reserves exceed guidelines - Verified post closing cash reserves of $XXX or XXX months which exceeds minimum required of XXX.

XXX: Terms/Guidelines: Property issues indicated

- Initial Clayton Comments: Lender Exception: XXX Project ineligible; XXX conversion.

- Client/Seller Response Comments: XXX - Lender provided approved exception form for XXX Project ineligible; XXX conversion.

- XXX Conclusion Comments: XXX - After further review by a XXX, exception downgraded to non-material. Borrower has $XXX or XXX months PITIA reserves with a FICO of XXX. Clayton Final Grade XXX.

- Related Compensating Factors:

- Credit score exceeds guidelines - Credit score of XXX exceeds minimum score of XXX by XXX points.

- Postive mortgage payment history - XXX months mortgage history with no late pays.

- Verified cash reserves exceed guidelines - Verified post closing cash reserves of $XXX or XXX months which exceeds minimum required of XXX.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds minimum score of XXX by XXX points.

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post closing cash reserves of $XXX or XXX months which exceeds minimum required of XXX.

Income:

Borrower 1: paid YTD income for XXX

Borrower 2: XXX tax returns confirmed XXX mos income at XXX

*Exception in file, co-borrower as self-employed physician for XXX year. Prior years as XXX employee as a XXX, earning XXX per year. Brw went from XXX to XXX employee.

Assets:

Verified post closing cash reserves of XXX months.

Lender Exception: XXX Project ineligible; XXX conversion.

QM: Rebuttable Presumption

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Paystub - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

Business Tax Return - XXX months;

CPA Letter with Income - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80080904488

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review to support appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied.

- Initial XXX Comments: Loan was approved on XXX which is non-QM. the loan approval dated XXX shows loan is not XXX eligible. XXX report run XXX shows loan to be Safe XXX.

- Client/Seller Response Comments: XXX - Lender provided the updated XXX Report showing loan is Non-QM.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: Calculated LTV of XXX% is XXX points below maximum LTV of XXX%

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrower has XXX months excess verified reserves.

Income:

Borrower income calculated to XXX per month but using lender calculated XXX as more conservative. Please see uploaded bank statement calculation.

Assets:

Borrower has XXX in verified reserves or XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080410112

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

- Client/Seller Response Comments: Acknowledgement does not XXX.

XXX: DTI: Debt Ratio Exception XXX% or Less

- Initial XXX Comments: DTI XXX%; max per guidelines XXX%

XXX: Terms/Guidelines: Payment shock does not meet guidelines

- Initial XXX Comments: Payment shock XXX%; max per guidelines XXX%

XXX: XXX Integrated Disclosure: XXX - CD: Inconsistency between the amounts disclosed for the XXX in one or more sections of the CD

- Initial XXX Comments: CD dated XXX [Last CD], Other Costs, Prepaids Homeowner Insurance Amount, Value is $ $XXX, based on XXX months at $XXX per month. However, $XXX = $XXX. Amount disclosed is incorrect. Please provide corrected Post-Closing CD with proof of delivery.

- Client/Seller Response Comments: XXX: Lender provided a PCCD dated XXX correcting the XXX in section F. Prepaids and LOX.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Finance Charge Tolerance: Finance charge understated by more than $XXX (Pmt Stream)

- Initial XXX Comments: XXX understated by $XXX. Lender itemization not in file. Borrower paid XXX% origination fee. No evidence provided that this fee reduced the interest rate.

- Client/Seller Response Comments: XXX Lender responded if XXX is sufficient to cure the exception. Exception remains active - per XXX compliance department, this is not fee issue, this is due to lender used Index of XXX%. Lowest allowed per our look back is XXX%.XXX: Lender provided a PCCD dated XXX, a Loan Modification Agreement, LOX, Proof of delivery and re-opened rescission with a new expiration date of XXX Exception will satisfy after the new rescission period is over.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: XXX Integrated Disclosure: XXX - CD: The Total Payment Amount on the Loan Calculation section of the Final Closing Disclosure is less than the XXX Calculated Total Payment Amount

- Initial XXX Comments: Finance charge understated by $XXX. Lender itemization not in file. Borrower paid XXX% origination fee. No evidence provided that this fee reduced the interest rate.

- Client/Seller Response Comments: XXX Lender responded if XXX is sufficient to cure the exception. Exception remains active - per XXX compliance department, this is not fee issue, this is due to lender used Index of XXX%. Lowest allowed per our look back is XXX%.XXX: Lender provided a PCCD dated XXX, a Loan Modification Agreement, LOX, Proof of delivery and re-opened rescission with a new expiration date of XXX. Exception will satisfy after the new rescission period is over.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: XXX Integrated Disclosure: XXX - CD: The Total Interest Percentage on the Loan Calculation section of the Final Closing Disclosure is less than the XXX Calculated Total Interest Percentage

- Initial XXX Comments: Finance charge understated by $XXX. Lender itemization not in file. Borrower paid XXX% origination fee. No evidence provided that this fee reduced the interest rate

- Client/Seller Response Comments: XXX: Lender provided a PCCD dated XXX, a Loan Modification Agreement, LOX, Proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Home Equity: XXX Equity - Total fees greater than the allowable XXX

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

- Client/Seller Response Comments: XXX: Lender responded that Assumptions are not allowed. Initial XXX Comment is incorrect. The Exception is due to the XXX Equity fees being over the tolerance. The charges are $XXX and are over the XXX% threshold by $XXX. The fees included in this calculation are the Credit Report $XXX, Doc Review fee $XXX, Processing $XXX, Final Inspection $XXX, XXX fee $XXX, Tax Certificate $XXX, Recording-mortgage $XXX, Title Courier $XXX, Title Recording Service $XXX, Texas guarantee $XXX and Discount $XXX: Lender provided the undiscounted rate documentation.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX - Exception Satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified $XXX; XXX months reserves required (XXX) XXX months verified

Income - B1 receives SSI of $XXX monthly.

B2 receives a monthly XXX of $XXX.

Assets: Verified XXX; XXX months reserves required XXX months verified

Non-QM: Lender documented all ATR UW factors

Award Letter - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

Award Letter - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

(No Data)

80080611647

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Post closing reserves of XXX are in sufficient to meet Client guideline requirement of XXX (XXX months x XXX). Verified assets total XXX, less XXX not sourced of XXX, less cash to close of XXX. Reserves are short XXX.

XXX: Assets: Asset Verification In File is Incomplete Per Requirements

- Initial XXX Comments: Missing evidence of XXX deposit of XXX, required per Client guidelines. The purchase contract indicates the funds were wired. Provide copy of bank statement which shows the wired funds cleared borrower's account.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Primary residence owned XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Self-employed owner of same business XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score is XXX; minimum required is XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%; maximum permitted is XXX%.

Income: Borrower earns XXX/month self-employed income based on XXX-month average of business bank statement deposits reduced by XXX% expense ratio.

Assets: XXX months PITI post closing reserves.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080611102

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: The Assumption selection in Loan Disclosures on CD XXX is will not allow assumption of this loan. This selection does not match the assumption terms on the XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review to support the original appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: XXX Integrated Disclosure: XXX - CD: Either both options or neither option was checked for the Liability after XXX topic in the CD Other Disclosures section

- Initial XXX Comments: CD:XXX Loan Disclosure Section: Will not have XXX does not indicate where they declined or lender does not offer XXX.

- Client/Seller Response Comments: XXX: Client requested clarification since there is an XXX account and it is disclosed properly. After further review, the initial XXX comment was incorrect. The section that is missing information is the Liability After Foreclosure statement in the Other Disclosures section on CD XXX. XXX of the boxes needs the have a check mark in it. Provide a corrected CD and letter of explanation to borrower. Exception remains.XXX Client provided a CD dated XXX correcting the Liability After Foreclosure statement, a letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower self-employed for XXX years

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-Borrower has XXX years with current employer

Income

B1: self-employed

Assets base, used XXX mo business statement

used average of XXX mo deposit XXX

XXX

Review P&L statement

Gross receipts from XXX is $XXX,- total expense XXX

Used XXX mo average $XXX to qualify

Expense factor XXX%

Lender qualified with monthly income of XXX. Used Lender more conservative income $XXX

Ss award letter $XXX/mo

Lender qualified with monthly income of $XXX

B2:

XXX

review wvoe dated XXX

YTD as of XXX

XXX

Lender qualified with monthly income of $XXX. Used Lender more conservative income $XXX

XXX

YTD as of XXX

XXX

Used average of ytd $XXX

Lender qualified with monthly income of $XXX. Used Lender more conservative income $XXX.

XXX

Paystub dated XXX

XXX

Used average of YTD XXX

Lender qualified with monthly income of XXX.

Assets verified of XXX

XXX PITI

Non-QM: Lender documented all ATR UW factors

Award Letter - XXX months;

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

IRS Transcripts – W2(s) - XXX months;

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80080611311

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX Other Costs section, Field E: Mortgage/Deed portion of recording fees are required to be itemized

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption not allowed per guides.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing Updated Valuation supporting original value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Missing XXX months Cancelled Checks confirming rental history due to First Time Homebuyer.

- Client/Seller Response Comments: XXX Client requested waiver of cancelled checks for rental history

- XXX Conclusion Comments: XXX After further review, exception is non material. Borrowers have DTI of XXX% and XXX years on job. XXX Waiver applied

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - Assets: Verified $XXX, Required $XXX , Reserves $XXX . Reserves Required XXX months PITIA. $XXX

- LTV below guideline requirements - Maximum LTV XXX% current LTV XXX%

- Borrower has significant time at current job - Borrower has been XXX for XXX Years.

XXX: Application: Undisclosed non-arm's length transaction

- Initial XXX Comments: Per appraisal, Transaction is Non Arms Length, Per Guidelines not permitted. Missing evidence of Exception granted and XXX appraisal .

- Client/Seller Response Comments: XXX Lender requested waiver of Non Arms Length transaction.

- XXX Conclusion Comments: XXX After further review, exception is non material. Borrowers have DTI of XXX% and residual income of $XXX XXX Waiver applied.

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - Assets: Verified $XXX, Required $XXX , Reserves $XXX . Reserves Required XXX months PITIA. $XXX

- LTV below guideline requirements - Maximum LTV XXX% current LTV XXX%

- Borrower has significant time at current job - Borrower has been SE for XXX Years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets: Verified $XXX, Required $XXX , Reserves $XXX . Reserves Required XXX months PITIA. $XXX

XXX: LTV below guideline requirements

- XXX Comments: Maximum LTV XXX% current LTV XXX%

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been SE for XXX Years.

B1 Income: Most recent XXX months Deposit Balance used in Qualifying. XXX, Lender used lower figure $XXX. Using Lender lower figure

Assets: Verified $XXX, Required XXX , Reserves XXX . Reserves Required XXX months PITIA. XXX

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080611626

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: The XXX does not include the XXX middle initial. I am able to tie the name to the i.d.

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Missing Affiliate Business Disclosure

XXX: XXX Integrated Disclosure: XXX - Error discovered on the Loan Estimate

- Initial XXX Comments: LE: XXX and XXX Creditor Section: Creditors address is missing.

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on final CD.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: The borrower has been self employed for XXX years

XXX: Significant time in profession

- XXX Comments: The borrower has worked in the same profession for XXX years

XXX: Significant time at current residence

- XXX Comments: The borrower has lived in the subject property for XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: The borrower is required XXX months PITI reserves: XXX x $XXX = $XXX The borrower has $XXX in verified assets

Income: The borrower's income calculated from XXX months bank statements was calculated to be XXX. The lender used XXX for income so this figure was used

Assets:

The borrower is required XXX months PITI reserves: XXX

The borrower has XXX in verified assets

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Business Tax Return - XXX months;

P & L - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080611615

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing third party updated valuation to support value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: XXX - CD: Loan consummated before end of waiting period

- Initial XXX Comments: Last CD XXX was signed on XXX, waiting period was not met. Need evidence CD was signed XXX days prior to closing.

- Client/Seller Response Comments: XXX: Lender provided the disclosure tracking for initial CDXXX.

- XXX Conclusion Comments: XXX: Exception satisfied. However, exception XXX generated as a result.

XXX: XXX Integrated Disclosure: XXX - CD delivered only via XXX but there is no prior e-sign consent in file; by regulation, CD must be treated as not delivered

- Initial XXX Comments: Initial CD delivered XXX without e-consent in file. Provide the borrower's XXX.

- Client/Seller Response Comments: XXX Lender provided the XXX.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: owned current company last XXX years XXX years same line of business

XXX: Significant time at current residence

- XXX Comments: owned prior home for last XXX years just sold

Income used XXX months bank statements with income deposits totaling $XXX input XXX% expense factor for a total income $XXX in income Lender used $XXX which I will put as more conservative income

Assets in file XXX XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080611859

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of XXX is not in file- cannot determine if compliant. Provide the list of ten counseling agencies that was provided to the borrower.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX- The Refundable XXX Pad Fee disclosed in Other section of Other Costs is missing the payee name.

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on subsequent CD dated XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Borrower credit score of XXX is XXX points above minimum required score of XXX.

XXX: DTI below guideline requirement

- XXX Comments: Lender calculated DTI of XXX% is XXX points below maximum DTI of XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed in her current job for XXX years XXX months.

Income:

Borrower has documented income from bank statements of XXX per month. Income calculated from all deposits in XXX months (less any transfers or refunds). Using lender calculated income of XXX per month as more conservative and to avoid a discrepancy.

Assets:

Borrower has $XXX in verified reserves, XXX months required per guidelines, borrower has XXX months.

Non-QM: Lender documented all ATR UW factors

DSCR - w/rent schedule - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711848

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: LTV/CLTV: LTV Exceeds Guideline Requirement by less than XXX%

- Initial XXX Comments: Loan exceeds LTV guideline by XXX%, borrower Fico is XXX which limits LTV to XXX% and XXX% LTV reduction must be applied for Cash in Hand >$XXX.

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Required Affiliate Business Disclosure missing

XXX: XXX Integrated Disclosure: XXX - Error discovered on the Loan Estimate

- Initial XXX Comments: XXX Issued XXX and Final LE XXX. Borrower Address for the Additional Borrower is missing on the XXX.

- Client/Seller Response Comments: XXX- Client responded that borrowers are married. Address is identical. Exception cancelled due to input correction.

- XXX Conclusion Comments: XXX- Exception cancelled due to input correction.

XXX: XXX: XXX - XXX of Fair Market Value not signed by lender

- Initial XXX Comments: XXX Equity - XXX of Fair Market Value not signed by lender

- Client/Seller Response Comments: XXX- Client provided XXX of Fair Market Value signed by lender.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: XXX XXX : XXX - Fees w/in tolerance, borrower elects to waive new fee disclosure

- Initial XXX Comments: Test XXX is XXX%, XXX rate is XXX% a variance of XXX%. Maximum variance allowed is XXX%.

- Client/Seller Response Comments: XXX - Client provided XXX of Fair Market Value signed by lender.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraisal value of $XXX

- Client/Seller Response Comments: XXX - Lender provided XXX, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrowers have owned home XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX in total reserves or months XXX PITI; per guidelines, XXX months PITI reserves required or $XXX.

Income: XXX months personal bank statements reviewed. Deposits of XXX monthly. Lender removed large deposits even-though guidelines do not require, their worksheet in file indicates XXX monthly. Clayton underwriter used lenders figure to be conservative and consistent

Assets; Borrowers have verified effective assets of XXX; per final CD, borrower funds received at closing was XXX which is acceptable to be used as post-closing reserves. XXX in total reserves or months XXX PITI; per guidelines, XXX months PITI reserves required or XXX

Remaining Income Certification is in the file; guideline requires XXX; worksheet approximates XXX; actual XXX uw calculated XXX

Note: XXX which is another trade name for XXX

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80080711962

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Yes

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Borrower is short reserves to close. Guidelines require XXX months PITI reserves, borrower has XXX. Required reserves XXX - documented reserves of XXX = XXX short reserves. Approved exception in the file.

XXX: XXX Consumer Protection: XXX verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: XXX XXX site states XXX, documents in file show XXX, can associate but not an exact match.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Provide XXX party valuation to support appraised value of $XXX

- Client/Seller Response Comments: Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: Calculated LTV of XXX% is XXX points below maximum LTV of XXX%

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been employed at his current job for XXX years.

Income:

Borrower has XXX per month in verified income from XXX months bank statements average deposits less unverified and transfer deposits.

Assets:

Borrower has XXX in verified reserves, XXX months required per guidelines, borrower has XXX months.

Non-QM: Lender documented all ATR UW factors

DSCR - w/rent schedule - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711586

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX party valuation supporting the original appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years in same line of work

XXX: DTI below guideline requirement

- XXX Comments: DTI below guideline requirement XXX%

XXX: Good credit history

- XXX Comments: Borrower has satisfactory mortgage/consumer credit history with no lates

XXX months biz bank stmts from XXX.

Total XXX

XXX (XXX% of monthly)

Using lenders lower income calculation of XXX to qualify.

Assets liquid: XXX required: XXX

XXX months reserves required: XXX

XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711770

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Income/Employment: Missing Profit and Loss statement for XXX or more Self Employed borrowers (#XXX)

- Initial XXX Comments: Missing P/L Statement from XXX to XXX for XXX and XXX. XXX months bank statements for each are from XXX to XXX.

- Client/Seller Response Comments: XXX- Lender provide Profit and loss statements for XXX. Exception remains. Bank statement provide cover the time period from XXX through XXX and P&L provided is from XXX. XXX- Lender provided approved exception for missing profit and loss statement Exception remains. Exception approval form acknowledged.

- XXX Conclusion Comments: XXX- After further review by XXX, exception downgraded to non-material. Borrower has FICO score of XXX, DTI is XXX% and borrower has XXX months reserves or XXX PITIA.

- Related Compensating Factors:

- Additional documented income not used in qualifying - XXX for both not used for qualifying

- Credit score exceeds guidelines - Mid fico XXX

- LTV below guideline requirements - LTV below guideline requirements Max XXX% LTV is XXX%

XXX: XXX Integrated Disclosure: XXX - XXX delivered only via XXX but there is no prior XXX in file; by regulation, XXX must be treated as not delivered

- Initial XXX Comments: Provide e-Consent for LE dated XXX. Disclosure summary details were not provided.

- Client/Seller Response Comments: XXX: Lender provided the borrower's E-consent form dated XXX

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - CD: Loan consummated before end of waiting period

- Initial XXX Comments: Please provide receipt of confirmation for initial CD XXX. Disclosure summary details was not provided

- Client/Seller Response Comments: XXX: Lender provided the disclosure tracking for CD XXX confirming same day delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Additional documented income not used in qualifying

- XXX Comments: XXX for both not used for qualifying

XXX: Credit score exceeds guidelines

- XXX Comments: Mid fico XXX

XXX: LTV below guideline requirements

- XXX Comments: LTV below guideline requirements Max XXX% LTV is XXX%

B1:XXX $XXX (XXX% income used)

B2: XXX $XXX (XXX% income used)

Used lenders lower income calculation of XXX per borrower to qualify.

Asset: Liquid XXX - Cash to Close XXX

XXX months PITIA reserves required: XXX

XXX months reserves

NOTE: SSI award letters were provided, but income not used.

Non-QM: Lender documented all ATR UW factors

Award Letter - XXX months;

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Award Letter - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711591

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Payment shock is XXX% per Client guidelines maximum is XXX%. Exception approval in file.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated Valuation to support appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX : XXX - Itemized disclosure of fees not provided prior to closing

- Initial XXX Comments: Itemized disclosure is dated XXX. The closing date is XXX

- Client/Seller Response Comments: XXX- Lender provided signed document that borrower did received itemized disclosure prior to closing.

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

Income: XXX months bank statements yielded XXX in deposits. XXX had to be deducted. Year over XXX increasing. XXX. P&L evidences Expense ratio of XXX%. XXX.

Assets- Proceeds allowed to be used for reserves on Cash Out. Proceeds exceed $XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711995

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: XXX higher priced loan based on test XXX XXX% with a XXX rate of XXX%, resulting in a difference of XXX% which exceeds maximum threshold of XXX%.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX Other Costs section, Field XXX: Mortgage/Deed portion of recording fees are required to be itemized

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated Valuation to support appraised value of $XXX

- Client/Seller Response Comments: Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Self employed for over XXX years at current job

XXX: Verified cash reserves exceed guidelines

- XXX Comments: $XXX, XXX required: $XXX Balance $XXX reserves. XXX months PITIA required.

XXX months bank statements - XXX XXX

Assets verified: XXX, liquid

CTC required: XXX

BalanceXXX reserves. XXX months PITIA required.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711836

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation to support appraised value $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years with self-employed.

XXX: Significant time at current residence

- XXX Comments: Borrower has owned departure residence for XXX years.

XXX: Good credit history

- XXX Comments: Borrower's credit history spans XXX years with no reported lates, no derogatory remarks, and no public records.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX credit score exceeds the minimum required XXX.

XXX Business Bank Statement XXX

Income:

Borrower is self employed; XXX% ownership interest. XXX month business bank statements Bank statements in file cover XXX. P&L dated XXX in file. The P&L has gross receipts of $XXX - expenses XXX. P&L expenses result in an expense factor of XXX%. This is less than the minimum of XXX%. Gross receipts of XXX. Gross receipts less $XXX months = $XXX/month. Business bank statements show deposits totaling XXX.

Assets:

Borrower has XXX months post closing reserves of XXX; guidelines require minimum XXX months reserves.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711606

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Missing

XXX

(No Data)

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided XXX, value supporting appraised value.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned current residence for XXX years.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: GL's require a XXX VOM history. CR supports a XXX VOM history.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months reserves required $XXX ($XXX); Verified post closing reserves $XXX; XXX months.

XXX: LTV below guideline requirements

- XXX Comments: The qualifying LTV is XXX%, XXX% below the max allowed of XXX%.

DSCR rents per Rent Schedule XXX

XXX months reserves required XXX; Verified post closing reserves XXX months.

This Borrower has XXX loans in this deal.

XXX

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80080711966

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: The Recording fees in Other Costs are not itemized on CD XXX. Provide a post close CD with correction and a letter of explanation to the borrower.

- Initial XXX Comments: Lender and XXX determination is Non-QM: Lender documented all XXX UW factors.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX party valuation that supports the appraised value of $XXX

- Client/Seller Response Comments: Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: $XXX, cash to close $XXX with remaining reserves of $XXX. or XXX months, XXX months required.

XXX: DTI below guideline requirement

- XXX Comments: XXX% DTI, max per guidelines is XXX%

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has more than XXX years at current job.

Income B-1 XXX, XXX months business bank statements in file, P&L of XXX monthly.

Coborrower income base pay rate XXX average XXX hours per week would be XXX per month

Assets in file shows XXX XXX XXX and XXX, cash to close $XXX with remaining reserves of XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Lease Agreement - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80080711844

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

Not Applicable

XXX

(No Data)

Not Applicable

XXX

(No Data)

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX party valuation to support original appraised value of $XXX

- Client/Seller Response Comments: Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has been in current profession for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrower has resided at current residence for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves of $XXX or XXX months which exceeds minimum required per guidelines of XXX months plus XXX additional for borrowers other financed property.

INCOME:

Borrower is a XXX and is self employed. Monthly income of $XXX verified using XXX letter on company letterhead translated by certified translator that provides XXX and YTD net profits and borrowers % of those profits. Borrower is XXX% owner. Business license provided to confirm SE for XXX plus years; CPA was also verified from copy of XXX.

ASSETS: Verified post closing reserves of $XXX months which meets the minimum required per guidelines of XXX months plus XXX months for each additional financed property. Borrower has two properties. Each non XXX statement was converted to XXX and translated by certified translator.

Credit: Due to being a XXX, borrower does not have a credit report in file. Translated letters are in file from one revolving account, one auto and a VOM for current primary residence. Per guidelines, for XXX borrowers, can use letters from creditors and can also use mortgage as a tradeline. Borrower meets minimum of XXX tradeline requirement.

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80080711377

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

- Initial XXX Comments: CD XXX Section: Summaries of Transactions: Adjustments and Other Credits Calculation is XXX.Section Calculating Cash to Close: Adjustments and Other Credits reflects $XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Income/Employment: Income verification does not meet guidelines

- Initial XXX Comments: Provide the retirement deposits for the Co-Borrower as only the retirement income was deposited into the XXX account ending #XXX

- Client/Seller Response Comments: XXX- Lender provided evidence of SSI payments into XXX account #XXX

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: XXX years.

XXX: LTV below guideline requirements

- XXX Comments: The LTV of XXX% is XXX% < maximum LTV of XXX%.

Income: B1 SSI $XXX monthly per award letter. B1 Pension is XXX per XXX provided.

B2: SSI $XXX monthly per award letter.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves are required.

Assets: .XXX months PITI reserves.

Non-QM: Lender documented all ATR UW factors

Award Letter - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Bank Statements - XXX months;

W2 - XXX months

Award Letter - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

W2 - XXX months

(No Data)

80080711605

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Good credit history

- XXX Comments: B1, has good credit history. Oldest trade line is dated XXX with no derogatory remarks or public records.

XXX: LTV below guideline requirements

- XXX Comments: B1's LTV of XXX% is below the maximum allowable LTV of XXX% allowed per guidelines.

XXX: Credit score exceeds guidelines

- XXX Comments: B1's credit score of XXX, exceeds the minimum credit score allowed of XXX, per guidelines.

B1 is an Investor and is being qualified using Investor Cash Flow income.

Market rents XXX DSCR

Per the Final CD dated XXX, funds in the amount of XXX were required for closing costs. B1 had verified assets in the amount of XXX and Post Closed reserves in the amount of XXX for XXX months; required XXX months.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80080711218

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

Not Applicable

XXX

(No Data)

Not Applicable

XXX

(No Data)

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Short Funds for RESERVES in the amount of XXX: Per XXX XXX. XXX mo. reserves required. XXX verfied assets (minus) Cash to close per XXX CD XXX = XXX. Required reserves= XXX PITIA x XXX months = XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX party valuation supporting the appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: XXX

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% from XXX%

XXX: Significant time at current residence

- XXX Comments: XXX yrs

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: XXX yrs XXX lates

INCOME:

B1 income supported by WVOE LTR: XXX/ YTD ending of XXX (XXX)

ASSETS:

Post close reserves of XXX, guidelines require XXX

ATR/QM: Not Applicable

Personal Bank Statements - XXX months;

Written VOE - XXX months

(No Data)

80080711762

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated Valuation to support appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX Loan Costs section, Field B: XXX is missing payee.

- XXX Conclusion Comments: Exception satisfied since corrected on Final CD dated XXX

XXX: DTI: Debt Ratio Exception XXX% or Less

- Initial XXX Comments: DTI is XXX; DTI maximum is XXX%. Exception approval in file.

- Client/Seller Response Comments: XXX - Waiver requested by Client.

- XXX Conclusion Comments: XXX- After further review by XXX, compensating factors such as DTI XXX% and credit score of XXX. XXX - Waiver applied.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified Cash Reserves in the amount of $XXX; XXX months PITI. XXX months reserves required ($XXX)

XXX: Credit score exceeds guidelines

- XXX Comments: Qualifying FICO is XXX, minimum required is XXX

Income:

Borrowers income determined by using XXX hourly @ XXX hours weekly for a total of XXX for a total monthly income of XXX.

Assets:

Verified Cash Reserves in the amount of $XXX months PITI. XXX months reserves required XXX

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80080711443

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Loan is XXX high priced loan

XXX: XXX Integrated Disclosure: XXX - CD: Loan consummated before end of waiting period

- Initial XXX Comments: Per XXX and disclosure tracking in file, initial CD was disclosed on XXX. Only final CD issued XXX in file. Provide initial CD issued on XXX

- Client/Seller Response Comments: XXX: Lender provided initial CD dated XXX.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated XXX party valuation to support value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower has been in same line of work for XXX years

- DTI below guideline requirement - Current DTI XXX; Max DTI XXX%

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been in same line of work for XXX years

XXX: DTI below guideline requirement

- XXX Comments: Current DTI XXX; Max DTI XXX%

Income based on P&L XXX net income of $XXX monthly income supported by XXX months business bank statements.

Assets: none verified.

Proceeds from transaction may be used for reserves. Cash to borrower XXX mos reserves

XXX months PITI required. XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711567

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Final Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX : XXX Equity - Total fees greater than the allowable XXX

- Initial XXX Comments: XXX - Total fees greater than the allowable

- Client/Seller Response Comments: XXX - Per XXX regulations, the discount points are excluded if they are used to reduce the interest rate. The undiscounted rate is XXX% therefore the discount points are XXX fide and should not be included in the XXX% fee calculation.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Provide the prior XXX months Mortgage payment history for the XXX lien mortgage ( #XXX) as only the payoff was included in the file.

- Client/Seller Response Comments: XXX- Lender provided credit report dated XXX reflecting XXX months history for XXX #XXX

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraised value $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Legal Documents: Missing proof that XXX has been paid and closed to future draws

- Initial XXX Comments: Provide evidence the Chase XXX account ending #XXX has been closed to future draws and satisfied of record.

- Client/Seller Response Comments: XXX- Lender provided XXX reflecting only XXX lien against property.

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years, XXX months self employed

XXX: DTI below guideline requirement

- XXX Comments: Guidelines require XXX% DTI, borrower has XXX%

Income:

XXX months Business bank Statements XXX per month at XXX% expense rate = XXX, used more conservative approach, excluding deposits for various reasons of XXX and using an expense ratio of XXX%. XXX monthly

Assets: XXX reserves for XXX months; required XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711864

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: LTV/CLTV: LTV Exception XXX% or Less

- Initial XXX Comments: Borrower credit score XXX which is max XXX% LTV - Loan Submitted XXX%. Lender used broker credit score for qualifying but that report was not included in file.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Per Note, loan is assumable when the initial fixed period ends. CD indicates loan is not assumable.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower is Self Employed XXX years

XXX: Significant time at current residence

- XXX Comments: Borrower has been at current residence XXX years

Purchase XXX - XXX months bank statements

Income -

Income of $XXX supported by XXX months business bank statements - deducted deposits to be excluded less XXX% expenses per CPA Letter

Assets -

Post Close Reserves XXX months. XXX months reserves required over XXX% XXX surplus

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711110

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated Valuation to support appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: XXX - Corrected CD should have been provided; XXX is less than XXX XXX business days prior to closing by more than allowable tolerance

- Initial XXX Comments: Non-numerical error: The closing CD XXX was signed on XXX. The closing date is XXX. The Cd XXX has an XXX of XXX. The initial CD was emailed signed on XXX has an XXX of XXX

- Client/Seller Response Comments: XXX: Lender provided the XXX disclosing the change in XXX due to borrower request of loan terms.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: XXX Higher-Priced: XXX Higher-priced mortgage loan - No evidence that copy of appraisal provided at least XXX days prior to closing.

- Initial XXX Comments: Signed Waiver is imaged.

- Client/Seller Response Comments: XXX- Lender provided evidence that appraisal was sent to borrower.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Property: Missing XXX Certificate/Questionnaire

- Initial XXX Comments: Several copies of the XXX cert were provided on pages XXX, XXX, and XXX but file is missing the Project Approval in addition to the cert as required per XXX

- Client/Seller Response Comments: XXX - Lender provided the full XXX certification along with Certificate of XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrower has $XXX in verified post clsg reserves or XXX months PITI. G/L require XXX months ($XXX)

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below guideline maximum of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX representative credit score exceeds guideline requirement of XXX.

Income

XXX months business bank statement

$XXX%= $XXX month

Lender qualified with XXX month

Assets:

Borrower has XXX in verified post clsg reserves. G/L require XXX months XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711977

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX% verse XXX higher priced loan XXX rate of XXX% for a variance of XXX% exceeding the XXX higher priced loan rate spread trigger of XXX%.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD dated XXX(XXX) Loan Costs - (C) Line XXX - Missing paid to information for the Notary CD dated XXX corrected the error.

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on subsequent CD.

XXX: XXX Integrated Disclosure: XXX - CD: Inconsistency between the amounts disclosed for the Property Taxes in one or more sections of the CD

- Initial XXX Comments: CD XXX-The Property Taxes in the F. Prepaids section disclose XXX months for a total of $XXX paid by borrower. The Property XXX in the G. Initial XXX Payment at Closing section discloses XXX months at $XXX per month. The Prepaids value calculates out to $XXX per month. Please provide a revised CD that corrects the Monthly Property XXX in the XXX Payment section. Revised CD and LOX to borrower

- Client/Seller Response Comments: XXX: Lender provided CD dated XXX with correction of the Property Taxes payment in Prepaid section and a letter of explanation to the borrower.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - XXX delivered only via e-mail but there is no prior e-sign consent in file; by regulation, XXX must be treated as not delivered

- Initial XXX Comments: The loan file is missing evidence the XXX disclosure was delivered to the borrower for the XXX dated XXX. Please provide

- Client/Seller Response Comments: XXX: Lender provided the borrower's e-consent.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Borrower is short reserves in the amt. of $XXX. Lender exception for shortage is located in file.

- XXX Conclusion Comments: XXX Final Grade XXX

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been at current job for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrower has been in current departing residence for XXX years.

INCOME:

XXX program XXX mos. Using P&L XXX mos. XXX gross receipts less XXX% expense $XXX mos. =XXX/mo. Lender income worksheet reflects monthly qualifying income of XXX. All docs provided in file reflect qualifying income of XXX/mo. i.e. final 1003/1008. Unsure of where this calc. came from.

ASSETS

Verified reserves in the amt. of XXX mos. PITIA required = to XXX Short reserves in the amt. of XXX. less cash back at close $XXX total shortage. Lender exception located in file.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080711556

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Start Rate

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Terms/Guidelines: Payment shock does not meet guidelines

- Initial XXX Comments: Loan does not meet maximum payment shock requirement of XXX%, subject payment shock XXX%.

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Missing evidence of hazard expense for XXX to support Tax/Insurance expense $XXX per mo. No evidence of hazard expense in file. Evidence of hazard to support property owned XXX.

- Client/Seller Response Comments: XXX- Lender provided XXX report reflecting that borrower purchase property there was no mortgage so no XXX is need.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraisal value of $XXX

- Client/Seller Response Comments: XXX- Clear Capital value of $XXX support appraisal value.

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: Qualifying DTI XXX% below program requirement XXX%.

XXX: LTV below guideline requirements

- XXX Comments: Qualifying LTV XXX% below program requirement XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrowers have verified assets totaling $XXX. Final CD reflects required funds to close, $XXX. Post close reserves $XXX. Guidelines require reserves of $XXX.

Income:

B1: Borrower qualified with XXX mos. business bank statements. Total deposits from statement ending XXX through XXX total XXX. P&L reflects a XXX% expense ratio or XXX. $XXX.

No rental income was used to qualify. Full PITI expense for XXX departing residence, XXX were included in DTI calculation.

Assets:

Borrowers have verified assets totaling XXX. Final CD reflects required funds to close,XXX. Post close reserves $XXX. Guidelines require XXX mos. reserves for subject or XXX and XXX mos. PITI reserves or XXX for conversion of primary residence to investment. Total required reserves XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711233

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd if amt prepd is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Start Rate

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation to support appraisal value $XXX.

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Legal Documents: Missing pre-payment penalty addendum

- Initial XXX Comments: Per NOTE dated XXX there is a XXX. This is missing from file.

- Client/Seller Response Comments: XXX Lender provided executed Prepayment addendum to note.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Consumer credit history exceeds guidelines

- XXX Comments: B1 has Consumer credit history that exceeds guidelines and reflects XXX in the last XXX months.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Mortgage payment history exceeds guidelines

XXX: Postive mortgage payment history

- XXX Comments: B1; has owned several properties and has XXX in the last XXX months.

B1: Income

B1 is paid a salary in the amount of XXX. B1 is also paid bonus income of YTD XXX Monthly (Prior year Bonus Income $XXX), (XXX Bonus income $XXX). a XXX year history was established.

XXX

Rental Income: XXX

Rental Losses – XXX

Assets:

BI has verified assets In the amount of XXX; funds required for closing costs needed per the Final CD were $XXX. B1 has verified reserves covering XXX months at $XXX

ATR/QM: Not Applicable

Lease Agreement - XXX months;

Paystub - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80080711180

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: Guidelines allow for a debt ratio of up to XXX%; subject transaction has a debt ratio of XXX%.

Income:

B1: Income was calculated using XXX mo bank statements and subtracting out XXX% for an expense factor. Assets calculated were $XXX Lender qualified with monthly income of $XXX. Used lender’s income due to it being less.

Assets:

Final CD required funds due to borrower in the amount of XXX. Statements in file support assets in the amount of $XXX including C/O to be used for reserves. XXX months reserves required on loans with payment shock >XXX% with a loan amount (XXX).

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711989

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest of amt prepaid in XXX mos if amt prepd >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Unavailable

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated Valuation to support appraised value $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Income/Employment: Missing Profit and Loss statement for XXX or more Self Employed borrowers

- Initial XXX Comments: Missing P/L statement for XXX from XXX thru XXX

- Client/Seller Response Comments: XXX- Lender provided business expense statement from XXX stating company expense do not exceed XXX% of gross revenue.

- XXX Conclusion Comments: XXX- Exception satisfied

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower has XXX years in same line of work

- Credit score exceeds guidelines - XXX credit score is above the minimum required XXX

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years in same line of work

XXX: Credit score exceeds guidelines

- XXX Comments: XXX credit score is above the minimum required XXX

XXX: Significant time at current residence

- XXX Comments: Borrowers have owned their primary residence XXX years.

Portfolio Select XXX month Business Bank Statements

XXX

Invest Purch

Income:

B1 is self employed; XXX% ownership.

XXX months business bank statements support income qualifying income of XXX/month.

Assets:

Borrowers have XXX months PITI reserves of $XXX; guidelines require minimum

XXX months reserves XXX.

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080711739

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Note is assumable after the fixed rate period. CD states that loan is not assumable.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation to support the appraised value of $XXX.

- Client/Seller Response Comments: Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: $XXX in reserves or XXX months PITI. XXX months required.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score XXX exceeds minimum of XXX

INCOME:

B1: Borrower is S/E and the average of XXX months bank statements minus excluded deposits is XXX per month.

ASSETS:

Final CD required funds to close of XXX. Statements in file supported assets of $XXX with reserves of XXX. XXX months reserves required (XXX).

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080711644

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD dated XXX The Property Taxes in Other Costs are the month value.The Recording Fee in Other Costs are not itemized. Provide a post close CD with corrections and a letter of explanation to the borrower. The Loan Costs formatting issue is replaced with XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated Valuation to support appraised value.

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: XXX - Curable issue related to the Closing Disclosure in file

- Initial XXX Comments: The XXX fee in Loan Costs on CD XXX is missing the payee name.

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on final CD XXX

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower been with same company last XXX years , owns it

XXX: Significant time at current residence

- XXX Comments: Borrower has been at primary residence for last XXX years

Income shows XXX month bank statement for a total of XXX in deposits - expenses XXX. Lenders shows total income $XXX I will use this as most conservative.

Assets Citi XXX

XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

DSCR - w/rent schedule - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811549

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: XXX allows assumption after the fixed period rate changes to adjustable.

XXX: XXX Integrated Disclosure: XXX - XXX delivered only via e-mail but there is no prior e-sign consent in file; by regulation, XXX must be treated as not delivered

- Initial XXX Comments: The loan file is missing evidence the XXX disclosure was delivered to the borrower for the XXX dated XXX and must be treated as not delivered. File is missing the e-Consent or Disclosure Tracking Summary.

- Client/Seller Response Comments: XXX- Client sent valid XXX Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - Error discovered on Closing Disclosure

- Initial XXX Comments: CD dated XXX Projected payment section: Estimated Taxes, Insurance & Assements - Missing the HOA dues in the "XXX" box.

- Client/Seller Response Comments: XXX - Client sent PC CD correcting this issue. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Lender provided XXX, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Legal Documents: Missing proof that XXX has been paid and closed to future draws

- Initial XXX Comments: Missing proof that XXX with Specialized Loan Services has been closed to future draws.

- Client/Seller Response Comments: XXX - Client sent proof XXX was closed. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: The LTV is XXX%; up to XXX% would be allowed

XXX: Significant time at current residence

- XXX Comments: The borrower has owned/lived in the subject property for XXX years

XXX: Borrower has significant time at current job

- XXX Comments: The borrower has been self-employed for XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: The borrower is required XXX months PITI reserves: XXX The borrower has $XXX in post closing assets

Income:

The borrower's XXX income decreased from XXX to XXX so only XXX XXX were used to calculate an average monthly income of $XXX. The borrower's schedule C income was also decreasing and XXX showed an average monthly income of $XXX. He receives $XXX monthly from Social Security and $XXX per month from the XXX. XXX per month

Assets:

The borrower is required XXX months PITI reserves: XXX

The borrower has $XXX in post closing assets

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

(No Data)

80080811513

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review to support appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum guideline requirement of XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been at current job and same profession for XXX years.

Income: B1: Borrower iis self employed. Qualified using XXX month XXX program. Total deposits (less excluded deposits) are XXX. P&L covering same time period shows $XXX. P&L income used for qualifying.

Assets: Verified post closing reserves of XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811726

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Closing Disclosure indicates the loan is not assumable; however, the XXX indicates the loan may be assumed after the fixed rate period expires.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraisal value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Application: Missing or incomplete documentation related to XXX/XXX

- Initial XXX Comments: File is missing a current, legible copy of the co-borrower's XXX. Copy provided in the file is illegible and expired.

- Client/Seller Response Comments: XXX- Lender provided the XXX . expired XXX along with Notice of Action stating that the expired card will last XXX months from the expiration date.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed with the same business for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITIA reserves; XXX months required.

XXX: DTI below guideline requirement

- XXX Comments: XXX.XXX% DTI ratios are below the maximum allowed DTI ratios of XXX%.

Income:

- B1 income of XXX/month was supported using average deposits from XXX months personal bank statements provided in the file. Lender used XXX/month to qualify due to not deducting unallowable deposits from the XXX and XXX bank statements.

- B1 has Social Security income of XXX/month using an Award letter and supported by bank statements provided in the file. Lender used $XXX/month to qualify due to grossing up the net amount; however, non-taxable portion unknown since tax returns not available.

Assets:

Borrowers have XXX months of PITIA reserves; XXX months PITIA reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080811349

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: CD dated XXX The Assumption selection in Loan Disclosures on CD is " will not allow assumption of this loan." This selection does not match the assumption terms on the XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX to support he appraisal value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score of XXX exceed minimum XXX

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below max XXX%

Income -

Borrower income XXX supported XXX months personal bank statement deposits less excluded figures

Assets -

Post Close Reserves XXX months reserves - XXX months reserves required XXX

NOTE - Discrepancy in DTI on Ratio XXX - XXX not picking up Qualifying P&I of $XXX - it is using Note Rate P&I XXX. DTI is still Within XXX%

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811916

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraised value $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: XXX LTV ; Program allows XXX%

XXX: Significant time at current residence

- XXX Comments: XXX yrs

XXX: Borrower has significant time at current job

- XXX Comments: XXX+ yrs with current employer

XXX: Significant time in profession

- XXX Comments: XXX yrs

Income:

B1 has income of $XXX per month supported by Written VOE and Verbal VOE in file

B-2 Income is negative for XXX (XXX). Lender didn't consider.

Assets:

Post close reserves of XXX, guidelines require XXX

Non-QM: Lender documented all ATR UW factors

Paystub - XXX months;

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80080811983

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX, Loan Costs, XXX Document Review Fee does not list a provider.

- XXX Conclusion Comments: Exception satisfied since corrected on subsequent CD XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: Max DTI XXX%, current DTI XXX%

XXX: LTV below guideline requirements

- XXX Comments: Max LTV XXX% current LTV XXX%

XXX: Significant time in profession

- XXX Comments: Borrower has been Self Employed for XXX years

Income: Borrower is Self-Employed, income derived using XXX% of deposits from XXX account from XXX average XXX monthly pay.

Assets/Reserves: Verified post close XXX months PITIA reserves. XXX months PITIA reserves are required.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811816

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Curable issue related to the Closing Disclosure in file

- Initial XXX Comments: CD XXX Projected payments section, Estimated taxes and Insurance "other" is marked however does not list what for.

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: Qualifying credit score of XXX is below the minimum required score of XXX.

- Related Compensating Factors:

- DTI below guideline requirement - XXX% DTI ratios are below the maximum allowed DTI ratios of XXX%.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: XXX indicates the loan is assumable after the fixed rate period expires; however, all CDs issued indicate loan assumption is not allowed.

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Required minimum borrower contribution of XXX%, or $XXX in this case, was not met. Total cash required to close was $XXX. Borrower received XXX in the amount of $XXX, leaving $XXX total cash from borrower to close.

- Related Compensating Factors:

- DTI below guideline requirement - XXX% DTI ratios are below the maximum allowed DTI ratios of XXX.

XXX: Credit/Mtg History: Length of mortgage/rental history in file does not meet guideline requirement

- Initial XXX Comments: File is missing verification of XXX and XXX rent payments verifying no more than XXX in the past XXX months.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX Loan Costs section, Field B: Final Inspection fees are missing payee, Other Costs section Field H:Home Warranty fee is missing payee.

- XXX Conclusion Comments: Exception satisfied since corrected on Final CD XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation.

- Client/Seller Response Comments: XXX Lender provided XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: XXX/XXX% DTI ratios are below the maximum allowed DTI ratios of XXX%.

Income:

B1 income of XXX/month was supported using average deposits from XXX months personal bank statements provided in the file.

Assets:

Borrower has XXX or XXX months of PITIA reserves; XXX months PITIA reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80080811722

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of OPB

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Reserves $XXX for XXX months; XXX months required.

XXX: Good credit history

- XXX Comments: Credit history in file date is XXX XXX. No derogatory credit in past XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: Minimum credit score for DSCR is XXX. Borrower score is XXX.

Income: XXX. DSCR XXX

Assets: Reserves XXX months; XXX months required.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Lease Agreement - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080811945

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd if amt prepd is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: Assets: Asset documentation is insufficient per guideline requirements

- Initial XXX Comments: Missing complete bank statement for Account #XXX. XXX statement is missing pages XXX and XXX. Missing XXX month statement for Account #XXX when XXX months required.

- Client/Seller Response Comments: XXX: Lender provided portion of the guides stating only XXX days required which clears account #XXX. Still missing pages XXX and XXX. Exception remains.

- XXX Conclusion Comments: XXX- After further review by XXX, exception downgraded to Non-Material based on compensating factors such as Borrower's length of residence of XXX years at primary residence and verified post close reserves of XXX months.

- Related Compensating Factors:

- Significant time at current residence - XXX years at current residence

- Verified cash reserves exceed guidelines - Verified post closing cash reserves of XXX months. Minimum required is XXX months.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: LTV/CLTV: LTV Exception XXX% or Less

- Initial XXX Comments: Per Investor Cash Flow XXX dated XXX, max LTV for cash out transactions on condominiums with loan amounts <= to $XXX is XXX%; Subject loan LTV XXX%.

- Client/Seller Response Comments: XXX- Lender provided the approved exception based on reserves of XXX months and payment shock . Client requested waiver.

- XXX Conclusion Comments: XXX- Waiver applied.

- Related Compensating Factors:

- Significant time at current residence - XXX years at current residence

- Verified cash reserves exceed guidelines - Verified post closing cash reserves of $XXX or XXX months. Minimum required is XXX months.

XXX: Significant time at current residence

- XXX Comments: XXX years at current residence

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post closing cash reserves of $XXX or XXX months. Minimum required is XXX months.

Income: DSCR; Market Rent per appraisal $XXX.

Reserves: Verified post closing cash reserves (pending missing pages) of XXX months. Minimum required is XXX months.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080811435

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

SISA

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX party valuation supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: XXX years at current job

XXX: Significant time at current residence

- XXX Comments: XXX years at current residence

XXX: Good credit history

- XXX Comments: Good credit history

XXX, no income verified

Post close reserves of XXX, guidelines require XXX

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080811604

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Application: Application is incomplete

- Initial XXX Comments: Missing asset breakdown listing accounts and balances on final 1003; missing prior rent payment of XXX on final application.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD dated XXX- Other Costs Section- The Recording fee are not itemized. The Property Taxes are missing the number of months collected. Provide a post close CD with corrections and a letter of explanation to the borrower.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Per XXX, Loan is assumable after fixed period ends. Per CD, the Loan is not assumable.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: XXX - Curable issue related to the Closing Disclosure in file

- Initial XXX Comments: The XXX Residential Mortgage fee in Loan Costs on CD XXX is missing the payee name.

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on subsequent CD dated XXX

(No Data)

XXX: Additional documented income not used in qualifying

- XXX Comments: B1, has additional documented income of $XXX that's not being used to qualify.

XXX: Borrower has significant time at current job

- XXX Comments: B1, has been employed with current employer for XXX years, and XXX months.

XXX: DTI below guideline requirement

- XXX Comments: B1's DTI is XXX/XXX which is below the MAX approved DTI for this loan of XXX%/XXX%.

Income breakdown: Borrower 1 is a S/E using Alternative Income Documentation was used to qualify– XXX Month Business Bank Statement Income was used to qualify the borrower the total deposits calculated were $XXX and a P&L dated XXX $XXX Monthly; Income was also supported by a XXX and Secretary of State listing. The Lender used a more conservative income amount to qualify the Borrower of $XXX per month.

Assets:

Per the Final CD, funds in the amount of $XXX were needed for closing costs. B1 has verified Assets in the amount of $XXX. B1 has Post-Closing assets in the amount of XXX.

QM: Rebuttable Presumption

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811466

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender Provided XXX, Value Supporting Appraisal Value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: XXX: XXX -Loan secured by XXX, cannot determine if XXX is applicable b/c cannot verify if primary use of funds was XXX or XXX.

- Initial XXX Comments: Provide the XXX for the purpose of the cash out.

XXX: XXX: XXX, no subsequent inspection (XXX & XXX)

- Initial XXX Comments: No inspection since the XXX- XXX.

- Client/Seller Response Comments: XXX Lender provided the XXX Disaster Report effective date of XXX indicating no damages to the subject property.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: XXX: XXX, Subseq inspect prior to Disaster (XXX & XXX)

- Initial XXX Comments: No inspection since the XXX XXX- Wildfires.

- XXX Conclusion Comments: XXX- Per XXX the XXX in XXX have been XXX% contained. Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: The Borrowers' have a low LTV of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX. Minimum score is XXX.

Program: XXX

Cash Flow Ratio: (PITIA) / Monthly Rent = XXX

Assets/Reserves: Verified post close assets of XXX months PITI reserves. XXX months PITI reserves are required.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80080811851

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Not Applicable

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Terms/Guidelines: Property issues indicated

- Initial XXX Comments: XXX unit does not meet the minimum XXX square feet of living space, per guidelines. Subject only has XXX square feet of living space per appraisal.

- Client/Seller Response Comments: XXX- Lender provided the approved exception form with compensating factors such as low DTI, low LTV, Residual income > $XXX and President for XXX years. XXX- Client requested waiver.

- XXX Conclusion Comments: XXX- After further review by XXX, exception downgraded to Non-Material - compensating factors such as low DTI, low LTV, Residual income > $XXX and President for XXX years. XXX - Waiver applied.

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% is below maximum of XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower in current jot for XXX years.

Income:

B1: Borrower is Self Employed, income derived using the XXX month Business Bank Statements, deposits total XXX% expense factor = XXX. The YTD P & L Statement in file covers XXX which is equivalent to the bank statements of $XXX. It is within XXX% of deposits so P&L is income used in qualifying.

Assets: Verified post closing reserves of XXX months. Required reserves per guidelines are XXX months.

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811325

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: Property: Property Issues Indicated XXX

- Initial XXX Comments: The second full appraisal dated XXX of $XXX is missing the 1007 (Lender used the 1007 from the higher appraisal of $XXX).

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided XXX, value supports appraised value.

- XXX Conclusion Comments: XXX - After further review, invalid exception as XXX full appraisals in the file. Exception cancelled.XXX: Exception cancelled previously is now satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Cash reserves are XXX months PITI; minimum required is XXX months.

Program is XXX. Appraisal Market Rents at XXX.

Assets: $XXX months PITI post closing reserves. XXX months PITI reserves are required.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80080811209

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation to support the appraised value.

- Client/Seller Response Comments: XXX: Lender provided XXX, value supporting appraised value.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX, Section Loan Costs, Section B: Provider of final inspection is missing. Corrected on CD XXX and can be satisfied.

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on subsequent CD.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Median score of XXX is XXX points higher then the required score of XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% is XXX% lower than the maximum DTI of XXX%.

XXX: LTV below guideline requirements

- XXX Comments: LTV XXX% is XXX% lower then the maximum LTV of XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified Post Close assets of $XXX or XXX months PITIA reserves. XXX months PITIA reserves required ($XXX).

Income: Borrower is Self-Employed, income derived using XXX Months Personal Bank Statements XXX monthly pay, using more conservative income of XXX.

Assets/Reserves: Verified Post Close assets of XXX months PITIA reserves. XXX months PITIA reserves required XXX.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811246

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Not Applicable

XXX

(No Data)

Not Applicable

XXX

(No Data)

Not Applicable

XXX

Not Applicable

XXX

(No Data)

Not Applicable

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Insufficient number of months cash reserves for PITIA per guideline requirements. Cash reserves are XXX months. Guidelines require XXX months PITIA reserves (XXX) = XXX in reserves.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraiser value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Rental payments reflect no delinquency over XXX months. Guideline is XXX over XXX months.

XXX: Significant time in profession

- XXX Comments: Borrower is in profession for XXX years.

Income- income is verified by written verification of employment in file. YTD XXX - XXX per month.

Assets- XXX post-closing reserves or XXX months PITI reserves.

ATR/QM: Not Applicable

Written VOE - XXX months

(No Data)

80080811439

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD date XXX (1)Other Cost section is not properly formatted - missing Fee name in Section H.

- Client/Seller Response Comments: XXX Lender provided CD XXX; however, corrections to Section H not made. Exception remains.XXX: Lender provided a post close CD dated XXX. There is still an entry of $XXX paid to XXX on line XXX of section H. Other that has no fee listed. Provide a corrected CD with fee name included and a letter of explanation to borrower. Exception remains.

XXX: Legal Documents: Legal document incorrect or incomplete

- Initial XXX Comments: Incorrect property address. Property address per legal is: XXX XXX. Incorrect on NOTE, Mortgage, final 1003,1008, and final CD.

- Client/Seller Response Comments: XXX Lender provided Affidavit of XXX which was being file to correct Mortgage, however, affidavit does not contain corrective language to include Note. Additionally, corrected Final CD was not received.XXX- Exception remains. Loan escalated to XXX Compliance for further review.XXX- Per XXX Compliance we will require an Corrected PC CD reflecting the correct address.XXX: Client provided post close CD dated XXX with the corrected address.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has XXX years in the same profession.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX credit score exceeds the minimum required XXX score.

Portfolio Select XXX

Income:

B1's income of $XXX/month is supported by WVOE, paystubs, tax returns and W2s; BASE hourly rate $XXX.

Assets:

Final CD required $XXX at closing. Borrowers have XXX months PITI reserves of XXX.

Non-QM: Lender documented all ATR UW factors

Paystub - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80080811595

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Credit/Mtg History: Length of mortgage/rental history in file does not meet guideline requirement

- Initial XXX Comments: Missing XXX months housing history. Provide a VOR and/or cancelled rent checks from XXX to present.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing updated valuation to support the appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX reflecting supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds guideline of XXX

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Cash reserves exceed guidelines

Income used to qualify is the average of XXX months business bank statements -Less XXX% of expenses

Total deposits XXX

Total expenses XXX

Per CPA letter expenses are XXX%, per guidelines, the minimum is XXX%. XXX% of expenses are XXX

XXX

Using lenders more conservative figure $XXX

Post close reserves of XXX, guidelines require XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811266

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Missing Affiliate Business Disclosure

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: XXX Integrated Disclosure: XXX - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least XXX business days prior to closing

- Initial XXX Comments: Initial CD in file dated XXX reflects loan type as Adjustable. Final CD dated XXX, reflects fixed. No intermediate CD was found reflecting the change to a fixed rate loan.

- Client/Seller Response Comments: XXX: Client provided the CD dated XXX disclosing the change in Product from an adjustable rate to a fixed rate.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - Corrected CD should have been provided; XXX is less than XXX XXX business days prior to closing by more than allowable tolerance

- Initial XXX Comments: CD XXX XXX is XXX% - CD XXX XXX is XXX% = XXX% above tolerance.

- Client/Seller Response Comments: XXX: Client provided the CD dated XXX disclosing the XXX as XXX% which is more than XXX days prior to closing.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Good credit history

- XXX Comments: Borrower has no lates in his history

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Guidelines require XXX months reserves, the borrower has XXX months

Income; XXX month bank statements reviewed. Deposits of $XXX monthly.. Final 1003 Declaration of XXX. Used lesser of income from 1003 lender calcs.

Assets: Verified effective assets of $XXX; per final CD, borrower funds required for closing was XXX; post-closing reserves of $XXX months PITI; per guidelines, XXX months PITI reserves required or XXX.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080811732

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest of amt prepaid in XXX mos if amt prepd >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Not Applicable

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Lender provided XXX, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Income/Employment: Income docs do not meet guidelines

- Initial XXX Comments: Missing XXX of XXX. XXX

- Client/Seller Response Comments: XXX Lender provided the XXX Letter dated XXX

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Missing evidence of HOA $XXX per month , Tax of $XXX for property located in XXX, XXX . Letter in file states amounts however no evidence in file . Missing XXX month Housing payment history. Letter states home is free and clear. Missing evidence owned free and clear for XXX months or evidence of most recent XXX months payment history .

- Client/Seller Response Comments: XXX - Lender provided the Exception approved form dated XXX.

- XXX Conclusion Comments: XXX- After further review by XXX, exception downgraded to Non-Material - compensating factors such as Borrower's current employment of XXX years, DTI XXX% and reserves XXX. XXX Final Grade XXX.

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - Assets: Verified $XXX , Required $, Reserves $XXX , Required Reserves XXX months PITIA $XXX $XXX

- DTI below guideline requirement - Max DTI XXX% current DTI XXX%

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets: Verified $XXX , Required $, Reserves $XXX , Required Reserves XXX months PITIA $XXX $XXX

XXX: DTI below guideline requirement

- XXX Comments: Max DTI XXX% current DTI XXX%

B1 Income: using CPA letter in file evidencing income for previous XXX years XXX,

Current YTD through XXX XXX

total for all XXX, lender used XXX

Assets: Verified XXX, Required Reserves XXX, Required Reserves XXX months PITIA XXX

Other XXX: XXX in XXX is paid free and clear using only Tax and XXX in qualifying.

ATR/QM: Not Applicable

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811273

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX (XXX)

XXX

Not Applicable

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: XXX: XXX -Loan secured by XXX, cannot determine if XXX is applicable b/c cannot verify if primary use of funds was XXX or XXX.

- Initial XXX Comments: There is no evidence in the file of the purpose of the funds. Please provide evidence of the primary use of funds. XXX in file states funds to be used to consolidate debt and to close on new property. Borrower just purchased a new primary for XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV XXX% below guideline requirements XXX%

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds guidelines XXX

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX - XXX months. XXX months reserves required ($XXX) Surplus $XXX

Cash Out Investor Cash Flow.

DSCR: Leases XXX

Assets -

Post Close Reserves XXX months. XXX months reserves required XXX

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Lease Agreement - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080811487

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Loan Estimate: An XXX is missing at least XXX required data point

- Initial XXX Comments: XXX dated XXX & XXX Contact Information: Lender missing XXX, Loan Officer, XXX. Final CD dated XXX satisfied the errors.

- XXX Conclusion Comments: XXX- Exception satisfied. Corrected on Final CD dated XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Verified post closing cash reserves of $XXX or XXX months. Minimum of XXX months required. LENDER EXCEPTION in file for insufficient reserves compensated by credit score, DTI and LTV.

- Client/Seller Response Comments: XXX- Lender provided exception approval form for insufficient reserves with compensated by credit score, DTI and LTV

- XXX Conclusion Comments: XXX- XXX Final Grade XXX.

- Related Compensating Factors:

- LTV below guideline requirements - LTV of XXX% is below maximum allowed of XXX%.

- DTI below guideline requirement - DTI of XXX% is below maximum allowed per guidelines of XXX%.

- Credit score exceeds guidelines - Credit score of XXX exceeds minimum required of XXX.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been at current job XXX years

XXX: Significant time at current residence

- XXX Comments: borrower has owned current residence XXX years

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% is below maximum allowed of XXX%.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum allowed per guidelines of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds minimum required of XXX.

INCOME - XXX month bank statement showing gross receipts XXX total XXX with exp ratio XXX% for a total income XXX matches Lenders .

ASSETS: Verified post closing cash reserves of XXX months. Minimum of XXX months required. LENDER EXCEPTION in file for insufficient reserves compensated by credit score, DTI and LTV. XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080811578

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of XXX not in file

- Initial XXX Comments: Missing List of homeowners counseling organizations.

XXX: XXX/XXX Integrated Disclosure: TRID - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period. Final CD XXX says not assumable.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Satisfied by final CD 1XXX.CD: XXX Loan Costs, Section C Services Borrower Did Shop For, Title Attorney's Fee missing payee name.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: borrower has been with current job last XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITI reserves. XXX months PITI reserves are required.

INCOME - Borrower is Self-Employed, income derived using XXX months Business Bank Statements totaling $XXX monthly pay.

ASSETS - Verified post close assets of XXX months PITI reserves. XXX months PITI reserves are required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080811656

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: Income/Employment: Verbal verification of employment missing

- Initial XXX Comments: Missing borrower XXX verbal verification of employment dated within XXX days of closing, per Client guidelines.

- Related Compensating Factors:

- DTI below guideline requirement - DTI is XXX%; maximum permitted is XXX%.

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: Most current self-employed verification of borrower1's business is dated XXX which is greater than Note signing date of XXX. Client guidelines require verification within XXX calendar days of closing.

- Related Compensating Factors:

- DTI below guideline requirement - DTI is XXX%; maximum permitted is XXX%.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: Terms/Guidelines: Payment shock does not meet guidelines

- Initial XXX Comments: The payment shock of XXX% is > XXX% allowed.

- Related Compensating Factors:

- DTI below guideline requirement - DTI is XXX%; maximum permitted is XXX%.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Application: Missing or incomplete documentation related to citizenship/residency

- Initial XXX Comments: XXX expired XXX. Category is XXX which requires resident status to be renewed within XXX days of XXX of card. Provide front and back of unexpired XXX card, per Client guidelines.

- Client/Seller Response Comments: XXX- Lender provided the XXX expiring XXX

- XXX Conclusion Comments: XXX- Exception satisfied.

- Initial XXX Comments: Missing documentation to complete the ATR/QM status determination review:1) Evidence the XXX has been paid in full for the XXX income taxes. Lender did not include the installment payment of $XXX in the DTI, and file does not contain documentation on the any remaining balance.

- Client/Seller Response Comments: XXX - Lender provided a payment of $XXX dated XXX to the XXX however it does not state the original balance owed to the XXX. In addition, it does not provide where the payment was deducted from the Borrower's XXX account. Exception remains.XXX Lender provided the XXX documents dated XXX that full payment(s) were made in installment amounts of $XXX a month along with a one time payment of $XXX was made.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Application: Application is incomplete

- Initial XXX Comments: Final 1003 XXX section is incomplete. Missing the additional properties owned by borrowers: 1) XXX located on XXX, HI per XXX in file which shows borrowers purchased on XXX; 2) XXX located on XXX per property tax bill, deed, and owners title in file (located through internet search of parcel number in XXX).Note: XXX included the property tax and XXX payments in DTI; DTI within guidelines.

- Client/Seller Response Comments: XXX - Lender provided the updated Final 1003 to include the Land(s) not listed.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Income/Employment: Missing Profit and Loss statement for one or more Self Employed borrowers

- Initial XXX Comments: Missing YTD P&L statement for borrower1's XXX business, required per Client guidelines.

- Client/Seller Response Comments: XXX - Lender provided the approved exception form dated XXX.

- XXX Conclusion Comments:XXX - After further review by a XXX, exception downgraded to non-material. Borrower has back end DTI of XXX%, credit history with no lates payments. XXX Final Grade XXX.

- Related Compensating Factors:

- DTI below guideline requirement - DTI is XXX%; maximum permitted is XXX%.

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Borrowers have been living rent free for the prior XXX months per lender's 1008 comment. Client guidelines do not permit rent free housing history.

- Client/Seller Response Comments: XXX - Lender provided the Approved exception form dated XXX.

- XXX Conclusion Comments: XXX - After further review by XXX, exception downgraded to non-material. Borrower has DTI of XXX%. Clayton Final Grade B.

- Related Compensating Factors:

- DTI below guideline requirement - DTI is XXX%; maximum permitted is XXX%.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%; maximum permitted is XXX%.

Income:

Borrower1's income of XXX/month consists of:

XXX/month Schedule C income based on XXX XXX tax return

XXX/month XXX income based on XXX XXX and XXX tax return.

Borrower2 earns $XXX/month based on XXX-month average of XXX XXX paystub.

Assets: $XXX months PITIA post closing reserves. XXX months PITIA reserves are required.

Non-QM: Lender documented all ATR UW factors

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Lease Agreement - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80080811613

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: The Recording fees are not itemized in Other Costs of CD XXX. Provide a corrected CD and letter of explanation that includes itemized recording fees. please send revised CD and LOX to borrower.

XXX: Application: Missing 3rd-party anti-fraud report

- Initial XXX Comments: Provide all pages of the LoanSafe Fraud Manager as the first page is missing for the Borrower.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Property: Missing XXX/Questionnaire

- Initial XXX Comments: Provide the XXX.

- Client/Seller Response Comments: XXX Lender provided the Lender's approved XXX.

- XXX Conclusion Comments: XXX Exception satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower employed with same employer for over XXX years

XXX: DTI below guideline requirement

- XXX Comments: Current DTI XXX, Max XXX%

XXX: Significant housing expense reduction

- XXX Comments: Significant housing expense reduction. Switching from interest only XXX% rate to fixed XXX .XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITI reserves. XXX months reserves required ($XXX).

Income:

B1 W2 wages, paid XXX supported by WVOE dated XXX.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months reserves required (XXX).

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months;

Written VOE - XXX months

(No Data)

80080811286

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - There is at least XXX revised Loan Estimate or Closing Disclosure containing a change that is not documented or supported in the file

- Initial XXX Comments: The CD dated XXX was revised and the reason for the re-disclosure was not documented in the file. Provide missing XXX.

- Client/Seller Response Comments: XXX: Lender provided the XXX for CD XXX.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Significant time in profession

- XXX Comments: B1, has been with their current employer for XXX years and (XXX) months.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: B1's mortgage payment history reflects XXX within the last XXX months, which exceeds guidelines.

XXX: DTI below guideline requirement

- XXX Comments: B1's DTI of XXX%, is below the maximum DTI allowed of XXX%, per guidelines.

B1; is Self Employed and income was calculated using a XXX month XXX Bank Statement calculation. The total deposits received during the XXX month period was XXX monthly; however the Lender used $XXX monthly. Using lender calculation.

Per the Final CD dated 1XXX, B1, received cash back in the amount of XXX B1, has verified assets in the amount of $XXX; (XXX).

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080911797

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: LTV/CLTV: LTV Exceeds Guideline Requirement by at least XXX%, but less than XXX%

- Initial XXX Comments: Subject loan LTV of XXX% exceeds maximum allowable LTV of XXX% for cash out refinance per client guidelines.

- Related Compensating Factors:

- Significant time at current residence - Borrower has lived in his XXX for XXX years.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has lived in his primary residence for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITIA reserves; XXX months required.

Investor cash flow:

$XXX market rent using Form XXX DSCR.

Assets:

Cash proceeds of XXXor XXX months of PITIA reserves; XXX months PITIA reserves required by guidelines.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80080911138

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided XXX, value supports appraised value.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed for XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITI reserves verified, max per guidelines is XXX months

income

B1: self-employed

Assets base, reviewed XXX mo business statement

Review P&L statement

Gross receipts from XXX to XXX is $XXX,- total expense XXX

Used XXX mo average to qualify

Lender qualified with monthly income of $XXX, however income sheet shows XXX

Cash reserves XXX PITI

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080911713

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: The Assumption selection in Loan Disclosures on CD XXX is will not allow assumption of this loan." This selection does not match the assumption terms on the XXX.

- Initial XXX Comments: CD: XXX Summaries of Transactions Section: Adjustments and Other Credits Calculation is XXX and Calculating Cash to Close Section: Adjustments and Other Credits - Final, Value: XXX.

XXX: XXX Integrated Disclosure: XXX - Error discovered on the Loan Estimate

- Initial XXX Comments: LE: XXX and XXX Creditor Section: Creditors address is missing.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX - Lender provided XXX, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Property: Missing XXX/Questionnaire

- Initial XXX Comments: Missing evidence of XXX Project Approval .

- Client/Seller Response Comments: XXX Lender provided their XXX approved XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Income/Employment: Income verification does not meet guidelines

- Initial XXX Comments: Received five complete months of receipt, and partial statement for the month of XXX, (statement was dated XXX- XXX). Borrower receives $XXX twice a month. XXX statement only reflects one payment on XXX payment.

- Client/Seller Response Comments: XXX- Lender provided the approved exception form dated XXX.

- XXX Conclusion Comments: XXX - After further review by XXX, exception downgraded to non-material. Borrower has been on same job and in same profession for XXX years. XXX Final Grade XXX.

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower has been with current employer since XXX, XXX years.

- Verified cash reserves exceed guidelines - Reserves $XXX Required Reserves XXX months PITIA , have XXX months reserves.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been with current employer since XXX, XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Reserves $XXX Required Reserves XXX months PITIA , have XXX months reserves.

Income:

B1: Borrower paid XXX.

Borrower receives XXX support in the amount of $XXX per month. ($XXX)

Assets:

Reserves $XXX Required Reserves XXX months PITIA, have XXX months reserves .

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80080911153

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - XXX delivered only via XXX but there is no prior e-sign consent in file; by regulation, LE must be treated as not delivered

- Initial XXX Comments: Missing documentation of priorXXX consent and proof of delivery for XXX XXX

- Client/Seller Response Comments: XXX - Client sent evidence of delivery for XXX XXX

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: XXX Integrated Disclosure: XXX - CD delivered only via XXX but there is no prior e-sign consent in file; by regulation, CD must be treated as not delivered

- Initial XXX Comments: Missing documentation of prior e-sign consent for CD XXX.

- Client/Seller Response Comments: XXX - Client sent proof of e-sign consent for CD XXX

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided XXX, value supporting appraisal value.

- Clayton Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum allowed per guidelines of XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self employed for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post closing cash reserves of $XXX or XXX months.

Income-

Borrower is s/e used alt docs XXX months business bank statements to qualify. Bank statements XXX - XXX. Total deposits (less excluded) are $XXX% expense ratio confirmed by CPA = $XXX. Difference $XXX.

See worksheet- Lender qualified with monthly income of XXX. Proceeding with lender total as is more conservative.

Assets: Verified post closing cash reserves of $XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911299

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest of amt prepaid in XXX mos if amt prepd >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Provide missing desk review to support value of $XXX

- Client/Seller Response Comments: XXX Lender provided Clear Capital Desk Review, value supports appraised value.

- XXX Conclusion Comments: XXX - exception satisfied.

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Missing verification of: 1) Hazard Insurance for the property located at XXX 2) All components of the PITI for the following : a) XXX. b) XXX c) XXX d) XXX

- Client/Seller Response Comments: XXX - Lender (XXX inquiring of additional properties).XXX Lender provided the all of the PITI for the properties (XXX are free and clear- by XXX report- no HOI).

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score of XXX exceeds Program Guidelines of XXX.

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years XXX months at the current residence.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrower has XXX months PITI reserves; guidelines require XXX months

Appraisal Market Rent ; $XXX

DSCR - Lease - XXX

Assets : Final CD requires $XXX in funds to close. Statements in file supported assets of $XXX with reserves of XXX.

XXX months reserves required or $XXX.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Lease Agreement - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080911309

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Terms/Guidelines: Payment shock does not meet guidelines

- Initial XXX Comments: The payment shock of XXX% > maximum allowed payment shock of XXX%.

- Related Compensating Factors:

- DTI below guideline requirement - Calculated DTI of XXX% is < max allowed DTI of XXX%.

- Verified cash reserves exceed guidelines - Verified post close assets of XXX or XXX months PITI reserves. XXX months PITI reserves required per guidelines.

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Please provide copy of Affiliated Business Disclosure.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: Calculated DTI of XXX% is < max allowed DTI of XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITI reserves. XXX months PITI reserves required per guidelines.

Income: Borrower is Self-Employed, income derived using XXX months Business Bank Statements, income of $XXX per month.

Assets/Reserves: Verified post close assets of XXX months PITI reserves. XXX months PITI reserves required per guidelines.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

DSCR - w/rent schedule - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911897

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Missing Affiliate Business Disclosure.

XXX: State Consumer Protection: XXX Database - No Cert of Compliance or Cert of Exemption in file

- Initial XXX Comments: Missing Cert of Compliance or Cert of Exemption in file.

- Client/Seller Response Comments: XXX Lender provided the XXX of Compliance.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX- Exception Satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: The borrower has been self employed for over XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITIA reserves. XXX months PITIA reserves: (XXX)

Income: Borrower is Self-Employed, income derived using XXX months XXX Statements, from XXX to XXX show an income of XXX, using more conservative income of XXX. Borrower is also Retired, SSI income of $XXX monthly SSI pay.

Assets/Reserves: Verified post close assets of $XXX or XXX months PITIA reserves. XXX months PITIA reserves: XXX

Non-QM: Lender documented all ATR UW factors

Award Letter - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911156

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

AVM

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Property: Property Issues Indicated

- Initial XXX Comments: The subject property is a XXX with XXX square feet. XXX with less than XXX of XXX is an ineligible property type

XXX: Credit/Mtg History: # of Tradelines Does Not Meet Guideline Requirements

- Initial XXX Comments: Borrower has one open and active tradeline not included mortgage. Per guidelines, must have XXX tradellines with XXX active in the last XXX months.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has resided at the existing primary residence for XXX years

XXX: Credit score exceeds guidelines

- XXX Comments: Qualifying credit score XXX. Minimum credit score required XXX

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post closing cash reserves of $XXX or XXX months which exceeds minimum required of XXX months.

Income:

XXX: Market Rent $XXX

Assets:

Verified post closing cash reserves of XXX months which exceeds minimum required of XXX months.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80080911408

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Consumer Protection: XXX - XXX Disclosure after XXX days from application

- Initial XXX Comments: Provide evidence that the XXX disclosure was delivered to the borrower within XXX days of the application.

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Required Affiliate Business Disclosure missing.

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX [Last CD], Section: Other Costs Section "E" missing itemized amount.

XXX: XXX Integrated Disclosure: XXX - CD: The value for Total Closing Costs in the XXX column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: CD:1XXX & CD:XXX Calculating Cash to Close Table (Loan Estimate column) does not match figures on final XXX Calculating Cash to Close Table.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: XXX includes assumption option, CD:XXX does not. XXX does not allow.

XXX: DTI: Debt Ratio Exception XXX% or Less

- Initial XXX Comments: DTI XXX% higher than the maximum allowed per guidelines.

XXX: TILA/RESPA Integrated Disclosure: TRID - LE or CD does not meet TRID requirements

- Initial XXX Comments: LE:XXX LEXXX & LE:XXX, Section: Lender Name, missing address.Satisfied by initial CD:XXX

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on CD.

XXX: TILA/RESPA Integrated Disclosure: TRID - Error discovered on the Loan Estimate

- Initial XXX Comments: LE:XXX, LE:XXX & LE:XXX, Section: NMLS, missing state designation where state ID is listed.Satisfied by initial CD:XXX

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on CD.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has resided in their Current Residence for XXX years.

Income:

B1: Annual Salary per WVOE dated XXX is XXX Monthly Base Salary.

B1: XXX months Average Schedule C – XXX $XXX Monthly Income Loss (See S/E Worksheet)

Assets:

Verified reserves $XXX months in PITIA reserves, per guidelines 4XXX months and per Loan approval or XXX

Non-QM: Lender documented all ATR UW factors

Paystub - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80080911122

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of XXX.

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - Seller CD not in file; need in order to complete fee entry

- Initial XXX Comments: Seller CD not in file; need in order to complete fee entry.

- Client/Seller Response Comments: XXX: Lender provided the seller's CD.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has stable employment with XXX years at current job.

XXX: Significant time in profession

- XXX Comments: Borrower has been in same profession for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is less than maximum allowed per guidelines of XXX%.

Income-

Borrower is self employed. -used alt docs- XXX month average of business bank statements-see worksheet.

Used monthly income of XXX. Proceeding with lender/XXX calculations. Income supported by bank statements, license, and XXX (Verbal VOE for business).

Assets- Verified post close cash reserves of XXX months PITI reserves. XXX months reserves for subject property of XXX total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911308

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Loan is assumable upon completion of fixed rate period per Note/Mtg. CD states not assumable. Signed disclosure in file stating assumptions not permitted does not reference language on Note.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided clear capital desk review, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% is less than maximum allowed of XXX%.

XXX: Postive mortgage payment history

- XXX Comments: Positive mortgage payment history.XXX

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has significant time at current job since XXX

B1: Monthly income XXX as verified by lender from XXX months XXX bank statements. File missing XXX statement.

B2: Not employed

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911495

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Home Equity: XXX Equity - Affidavit of Fair Market Value not signed by lender

- Initial XXX Comments: XXX Equity - Affidavit of Fair Market Value not signed by lender

- Client/Seller Response Comments: XXX: Lender provided the copy of the Affidavit of Fair Market Value signed by both lender and borrower.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been in current job XXX years

XXX: Significant time at current residence

- XXX Comments: borrower has been in current residence XXX years

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum allowed per guidelines of XXX%.

INCOME - used XXX month bank statement and the P/L to show net profits XXX in income. Lender used $XXX per month to be conservative. Using lender total as well. Income supported by bank statements, business license, XXX letter and P&L.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911618

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: XXX - List of homeowners counseling organizations not compliant.

XXX: XXX Integrated Disclosure: XXX - CD: Closing Disclosure contains conflicting loan attributes

- Initial XXX Comments: CD: XXX Loan Disclosures>Is Demand Feature> there is no check in the boxes allotted

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

XXX: TILA/RESPA Integrated Disclosure: TRID - CD: The Total Payment Amount on the Loan Calculation section of the Final Closing Disclosure is less than the XXX Calculated Total Payment Amount

- Initial XXX Comments: The Total Payment Amount on the Loan Calculation section of the Final Closing Disclosure is less than the XXX Calculated Total Payment Amount

- Client/Seller Response Comments: XXX: Client requested another look and stated that they used an index rate of XXX and the XXX-day look back was XXX that they over disclosed which is in the borrower's favor. However, the index is not the issue. The Total of Payments value disclosed on the CD XXX is $XXX which is $XXX less than the review finding of $XXX. The XXX report in file on page XXX also shows a fail for the TOP. The cure for this exception is a copy of the refund to borrower in amount of $XXX, a corrected CD, a letter of explanation to borrower and proof of delivery. XXX: Lender responded "It was our understanding that your company did not look at our XXX report. Can you please advise as the condition is being created off of it." After review from the Compliance team, the exception is valid. This is not an Index error. The client's amortization schedule in file matches our calculations and the Index they provided is within the look up, so that is all correct. The rest of the TOP calculations is simple adding of the sections. Manual calculation below. Matches the system calculation. TOP Sum of Payments (from Amortization schedule in XXX)$XXXSection A$XXX.XXX XXX Section XXX Section F- Prepaid Interest$XXX Section F- Mtg Insurance$XXX Section G- Mtg Insurance$XXX Total of Payments$XXX : Lender provided a copy of the refund check in the amount of $XXX, corrected CD dated XXX, letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: B1's DTI of XXX%, is below the guideline requirement of XXX%, allowable per guidelines.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: B1 had verified assets in the amount of $XXX and Post Closed reserves in the amount of $XXX(PITIA $XXX).

XXX: Consumer credit history exceeds guidelines

- XXX Comments: B1's consumer credit history reflects XXX within the last XXX months, which exceeds guidelines.

XXX: Credit score exceeds guidelines

- XXX Comments: B1's credit score of XXX, exceeds the minimum allowable credit score of XXX, per guidelines.

B1, is Self Employed and income was calculated using (XXX) month Personal bank statements review. B1’s total wages earned from XXX to XXX totaled XXX (less) - $XXX = Net total $XXX = XXX Monthly. Also a Profit & Loss Statement was provided dated XXX reflecting Net earnings of XXX monthly. However the Lender used XXX to qualify B1. B1’s income was also supported by XXX, XXX, and Proof of Business existence, CPA Letter.

Post Closed reserves in the amount of $XXX months. (PITIA XXX)

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911592

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: TILA/RESPA Integrated Disclosure: TRID - Curable Issue #XXX related to the Closing Disclosure in file

- Initial XXX Comments: CD XXX Section Projected Payments, Estimated Taxes, Insurance & Assessments: Other box is checked but description is missing.

- Client/Seller Response Comments: XXX: Lender provided a PCCD dated XXX correcting the Projected Payments section, a letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: ASSETS: Verified post closing cash reserves of $XXX or XXX months which exceeds minimum required of XXX months.

XXX: Significant time at current residence

- XXX Comments: Borrower has resided at current residence of XXX years.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: XXX mortgages reviewed for XXX months with no late payments.

Income: Borrower is self employed. Qualified using XXX month bank statements. Profit and Loss in file from XXX matches timeframe covered on business bank statements. Gross Receipts on P&L are XXX less total expenses $XXX. Expense factor XXX%. Total deposits on bank statements less ineligible deposits are $XXX which matches P&L. Total qualifying income $XXX.

ASSETS: Verified post closing cash reserves of XXX months which exceeds minimum required of XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months;

Written VOE - XXX months

(No Data)

80080911545

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Error #XXX discovered on Closing Disclosure

- Initial XXX Comments: CD dated XXX Other Costs Section (E) Recording Fees are not itemized.

XXX: TILA/RESPA Integrated Disclosure: TRID - Error discovered on Closing Disclosure

- Initial XXX Comments: CD dated XXX (XXX) Loan Costs Section (B) XXX Questionnaire missing payee(XXX) Other Costs Section (H) HOA dues missing payee.CD dated XXX satisfied the error

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: Lender provided clear capital desk review, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Income/Employment: Income verification does not meet guidelines

- Initial XXX Comments: Per guidelines, need the most recent XXX year's tax returns; provide the XXX XXX tax return as only XXX XXX was located in the file.

- Client/Seller Response Comments: XXX - XXX allows only XXX year tax returns per the XXX (acknowledge seeing this on the XXX). The initial application date is XXX; Portfolio Select guidelines used XXX of which state Self-Employed Borrower(s) require a XXX year history of Self-Employment with the same business and at the same location. Exception remains.XXX - Lender provided the approved exception form dated XXX.

- XXX Conclusion Comments: XXX - After further review by a XXX, exception downgraded to non-material . Borrower has been on same job and in same profession for XXX years with a FICO of XXX and back end DTI of XXX%. XXX Final Grade XXX

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower Driver for XXX years.

- Credit score exceeds guidelines - Borrower's median credit score of XXX is XXX more points than minimum required score of XXX.

- LTV below guideline requirements - The LTV of XXX% is XXX% < maximum LTV of XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower Driver for XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: Borrower's median credit score of XXX is XXX more points than minimum required score of XXX.

XXX: LTV below guideline requirements

- XXX Comments: The LTV of XXX% is XXX% < maximum LTV of XXX%.

INCOME - Borrower is Self-Employed, income derived using only XXX Schedule C income (only XXX year was provided) used XXX month average for a total income of XXX, used more conservative income of XXX.

Assets/Reserves: Verified post close assets of XXX months PITIA reserves. XXX months PITIA reserves are required.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911969

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has almost XXX years at current job.

XXX: Good credit history

- XXX Comments: Borrower has good credit history with representative fico score of XXX.

Income- Borrower is S/E used XXX month bank statement for qualifying purposes-.see worksheet.

Used monthly income of XXX, lender used XXX.

Assets- Verified post closing cash reserves of $XXX or XXX months. XXX months are required per guidelines. LENDER APPROVED EXCEPTION in file for insufficient reserves based on assets of $ XXX, however, asset statement in file dated XXX shows $XXX. Statement in file is from a XXX account however, per guidelines, ok to use as statement is in within XXX days of closing and borrow is XXX% owner.

QM: Rebuttable Presumption

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911334

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Curable issue related to the Closing Disclosure in file

- Initial XXX Comments: CD XXX In Projected Payments the Other box is checked , No , Loan Disclosure states XXX is not being XXX. the word XXX Dues are missing from projected payments section Please Provide a corrected CD and letter of explanation. Revised CD and LOX to be sent to borrower.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been S/E for XXX years at the same business.

XXX: Significant time at current residence

- XXX Comments: Borrower has rented current residence for XXX years.

INCOME:

XXX month average of bank statements using XXX% expense factor is XXX per month.

ASSETS:

Per bank statement, Borrower has assets of $XXX with $XXX reserves. Reserve requirement is XXX months ($XXX).

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080911198

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: XXX credit score exceeds the minimum required XXX.

XXX: DTI below guideline requirement

- XXX Comments: XXX% DTI is below the maximum allowable DTI of XXX%.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Prior mortgage payment history reflects XXX in the last XXX months, which exceeds guidelines XXX in XXX months.

INCOME:

B1 is self-employed and income was calculated using XXX month XXX Bank Statement calculation. The total deposits received during the XXX month period was $XXX; However the Lender used XXX% of this amount to qualify at XXX monthly. The income was supported by a CPA Letter and a Verbal XXX.

XXX property is through the business. XXX is business, XXX and XXX units.

Departing primary is being rented. Lease in file. Confirmed on business bank statements mortgage is paid through business.

ASSETS:

Assets/Reserves: Verified post close assets of XXX months PITI reserves. XXX months PITI reserves required (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Lease Agreement - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80080911287

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Missing Affiliate Business Disclosure

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX [Last CD], Section: Other Costs, Field: Is the Other Cost section properly formatted?, Value: No. E. Recording Fees are not Itemized.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: Credit/Mtg History: Length of mortgage/rental history in file does not meet guideline requirement

- Initial XXX Comments: Missing rental history for CB (XXX). Lease for current address is only in name of borrower (XXX). Guidelines do not allow rent free borrowers.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing desk review supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Cash Reserves are in the amount of $XXX; PITI is $XXX ; XXX months PITI in reserves. Guidelines require XXX months.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self employed for XXX years.

Income: XXX month bank statements reviewed. Deposits of $XXX monthly. Tax Preparer states that expense ratio is XXX%. XXX monthly. Final 1003 Declaration of $XXX; used the lesser of income from 1003 declared income.

Assets: Reserves of $XXX or months XXX PITI; per guidelines, XXX months PITI reserves required or XXX.

Residual requirement is $XXX; borrower has $XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011205

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of OPB

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Provide leases for XXX; XXX.

- Client/Seller Response Comments: XXX Lender provided updated 1003 and CRE indication they are not using rental income and increased DTI.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time in profession

- XXX Comments: B1, has significant time of XXX years in profession.

XXX: Credit score exceeds guidelines

- XXX Comments: B1's credit score of XXX, exceeds the minimum credit score allowed of XXX. per guidelines.

XXX: DTI below guideline requirement

- XXX Comments: B1's DTI of XXX%, is below the maximum allowable DTI of XXX%, per guidelines.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: B1's Mortgage payment history reflects XXX within the last XXX months, which exceeds guidelines.

B1, is Self Employed and income was calculated using a (XXX) month XXX bank statement review. B1’s total wages earned from XXX to XXX was $XXX monthly. B1’s income was also supported by copy of the XXX, VOE, and Proof of Business existence.

Per the Final CD dated XXX, B1, received cash back in the amount of XXX at closing. B1, had post closed reserves in the amount of XXX (XXX).

ATR/QM: Not Applicable

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011297

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: TILA/RESPA Integrated Disclosure: TRID - CD: Inconsistency between the amounts disclosed for the components of the XXX amount in Other Costs and the total XXX amount disclosed in Loan Disclosures

- Initial XXX Comments: CD: XXX [Last CD], Section: Other Costs, Message: Field: Homeowner Insurance Amount Per Month, Value: $XXX and Section: Other Costs, Message: Field: Property Tax Amount Per Month, Value: $XXX and Section: Loan Disclosures, Field: XXX Costs Over Year XXX, Value: XXX. Loan is a Refinance.

- Client/Seller Response Comments: XXX - Client provided PC CD with correct figures. No conflicting loan information compared to the CD disclosure. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX : Ability to Repay/Qualified Mortgage: TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status.

- Initial XXX Comments: Missing some components of non subject PITI to ensure proper calculation of DTI. XXX: Missing HOI policy. Mortgage statement is P&I only. Taxes present. XXX: Missing mortgage statement and HOI. Taxes only in file.

- Client/Seller Response Comments: XXX - Lender provided the HOI for XXX. In addition, the Mortgage Statement for XXX P & I payment and separate HOI was provided of which is all in line with the final 1003.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: DTI: Missing verification of some or all components of non-subject PITI

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Income/Employment: Income docs do not meet guidelines

- Initial XXX Comments: Per guidelines, when using XXX, must have one month proof of receipt and an award letter. Missing award letter for both borrowers.

- Client/Seller Response Comments: XXX - Lender provided the approved exception form dated XXX.

- XXX Conclusion Comments: XXX- After further review by a XXX, exception graded XXX since a guideline requirement. Borrower has been on same job and in same profession for XXX years, Co-Borrower has been on same job and in same profession of XXX years, with a back end DTI of XXX%. Clayton Final Grade XXX.

- Related Compensating Factors:

- Borrower has significant time at current job - XXX years self employed barber

- Co-Borrower has significant time at current job - XXX years as attorney

XXX: Borrower has significant time at current job

- XXX Comments: XXX years self employed barber

XXX: Co-Borrower has significant time at current job

- XXX Comments: XXX years as attorney

Income: B1: XXX month XXX bank stmts gross receipts $ XXX not considered divided by XXX =$XXX.

Borrower XXX SSI XXX.

Total qualifying income XXX.

Assets/Reserves: $XXX months; required XXX months

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Personal Bank Statements - XXX months

(No Data)

80081011545

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest of amt prepaid in XXX mos if amt prepd >XXX% of OPB

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Missing

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: XXX years at current residence

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Cash reserves of $XXX exceed guidelines of $XXX

XXX Months bank statement program, statements used XXX, deposits totaling $XXX* expense ratio of XXX%= XXX

Post close reserves of $XXX , guidelines require $XXX

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081011550

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Not Applicable

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Application: Missing or incomplete documentation related to citizenship/residency

- Initial XXX Comments: Missing Borrower Valid Visa per guidelines. Have XXX only

- Client/Seller Response Comments: XXX Lender provided the XXX Waiver Countries list and the Borrower's country was XXX of them.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: XXX months reserves required - $XXX. Credit Risk Summary & Exception Approval states no exception required however lists $XXX in reserves. Reserves are short $XXX.

- Client/Seller Response Comments: XXX- Client required approved exception request as not meeting the required months of reserves.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception is now deemed Non-Material due to back end DTI XXX% and residual income of $XXX. XXX final grade XXX.

- Related Compensating Factors:

- DTI below guideline requirement - DTI of XXX% below guideline requirement XXX%

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below guideline requirement XXX%

Income -

Bwr receives annual interest. XXX month average income XXX month. CPA Letter provided breaking down XXX, XXX, XXX

Assets -

Reserves of XXX months; required XXX months. Borrower short required reserves XXX. No exception listed on Credit Risk Summary & Exception Approval. Large deposit $XXX XXX into XXX to be explained/sourced.

ATR/QM: Not Applicable

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081011711

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: The assumption selection on the CD does not match the clause in XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been S/E for XXX years.

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-Borrower has been S/E for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrowers have owned the subject property for XXX years.

INCOME:

Per W-2's $XXX per month. Borrower has XXX income of $XXX per month and Schedule income of $XXX per month. Total monthly income is XXX. Co-Borrowers income is $XXX, XXX% of the XXX income.

ASSETS:

Borrowers have $XXX in verified assets and received XXX at closing.

Non-QM: Lender documented all ATR UW factors

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

(No Data)

80081011487

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX and Last CD XXX , Section: Loan Costs, Field: Is the Loan Costs Details section properly formatted?, Value: No. Section C. Document Preparation are missing the Payee.

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Required Affiliate Business Disclosure missing

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: "Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk review which support appraisal value.

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: Final DTI is XXX%. Guidelines allows max XXX% DTI.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITI reserves. XXX months PITI reserves required for the subject property ($XXX) total reserves required.

-Income: Borrower is self employed. Income derived using XXX months business bank statements, (XXX) versus P&L(Gross Receipts $XXX less expenses $XXX which is a XXX% expense factor/XXX = $XXX). Total qualifying income $XXX supported by bank statements, P&L and XXX. Bank statement calculator uploaded to loan folder.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011454

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Final Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Start Rate

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Missing Affiliate Business Disclosure

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - LE or CD does not meet TRID requirements

- Initial XXX Comments: LE XXX formatting, missing address for Lender. Corrected by CD XXX Exception satisfied

- XXX Conclusion Comments: XXX: Upon further review this exception should be satisfied XXX.

XXX: Documentation: Missing Title

- Initial XXX Comments: Missing Title.

- Client/Seller Response Comments: XXX - Lender provided only the CPL, wiring instruction and property tax cert; no title located in ten pages of documents. Exception remains.XXX- Lender provided XXX policy

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX- XXX months reserves. XXX months reserves required ($XXX) Surplus $XXX

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds guidelines XXX.

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% is below guideline maximum of XXX%.

Income -

Income split between borrowers at XXX each - per 1003. XXX months XXX bank statements provided. Total qualifying income over XXX months is $XXX, used more conservative income of $XXX.

Assets/Reserves: Post Close Reserves XXX months reserves. XXX months reserves required XXX

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Personal Bank Statements - XXX months

(No Data)

80081011263

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX and CD: XXX [Last CD], Section: Loan Costs is improperly formatted due to B. Services Borrower Did Not Shop for - Processing fee missing payee.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value $XXX

- Client/Seller Response Comments: XXX- Lender Provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX-Exception Satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close reserves $XXX - XXX months reserves.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score XXX exceeds guidelines XXX score.

XXX: LTV below guideline requirements

- XXX Comments: LTV XXX% below guideline requirement XXX%

Rate/Term Refinance Primary Residence of Detached XXX

Income -

XXX months XXX #XXX XXX bank statements $XXX - not using Returns of $XXX

Exception granted to use other deposits supported by checks rather than bank statements averaged XXX months $XXX - am not using XXX check from XXX account XXX XXX (submitted as $XXX)

Total Income $XXX - Tape Discrepancy as total income used $XXX - DTI still within guidelines however XXX% Difference.

Assets -

Post Close reserves $XXX months reserves.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011441

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Missing Affiliate Business Disclosure

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Legal Documents: Missing XXX from sale of property

- Initial XXX Comments: Provide the Final CD from the sale of XXX, funds required for closing.

- Client/Seller Response Comments: XXX: Lender provided a copy of the final XXX showing sufficient net proceeds. Exception satisfied.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - LE delivered only via e-mail but there is no prior e-sign consent in file; by regulation, LE must be treated as not delivered

- Initial XXX Comments: XXX was not provided

- Client/Seller Response Comments: XXX - Client provided XXX. Exception satisfied.

- XXX Conclusion Comments: XXX - Client provided XXX. Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - CD delivered only via e-mail but there is no prior e-sign consent in file; by regulation, CD must be treated as not delivered

- Initial XXX Comments: XXX was not provided

- Client/Seller Response Comments: XXX- Client provided XXX. Exception satisfied.

- XXX Conclusion Comments: XXX - Client provided XXX. Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - LE or CD does not meet TRID requirements

- Initial XXX Comments: LE XXX and LE XXX formatting, missing address for lender. Corrected by CD XXX exception satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITIA reserves; XXX months required.

XXX: LTV below guideline requirements

- XXX Comments: Maximum LTV XXX%, current LTV is XXX%

Income:

B1: Schedule C Income - XXX Month Average XXX XXX. See income calculator uploaded to the file.

B1: XXX Income $XXX.

Rental Income – Positive rental income of $XXX for the property located at XXX.

Assets:

Borrowers have XXX months of PITIA reserves; XXX months PITI reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

(No Data)

80081011471

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period. Final CD XXX says not assumable.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX other cost section F line XXX missing the number of months.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower is Attorney for XXX years.

XXX: Good credit history

- XXX Comments: Borrower has good established credit not overextended in debt

Income: Borrower is Self-Employed, income derived using XXX month Personal Bank Statement as XXX monthly pay.

Assets/Reserves: Verified post close assets of XXX months PITIA reserves. XXX months PITIA reserves required.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011746

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section A. field XXX name - missing payee's nameFinal CD XXX, section E. field Recording - no amount entry for Deed/ Mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time in profession

- XXX Comments: XXX years in current profession per application.

XXX: LTV below guideline requirements

- XXX Comments: XXX%. Max allowed is XXX%.

Product: XXX m Business bank statement.

XXX year

Income:

B1: Self Employed: $XXX derived from XXX months XXX statements. (XXX, using more conservative income of $XXX.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011494

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Written List of Providers not provided or untimely

- Initial XXX Comments: Written List of Providers not provided.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Missing support docs for VOM/VOR (e.g. Cancelled checks) Please provided verification for rent/mortgage for the last XXX months.

- Client/Seller Response Comments: XXX- Lender responded that NonPrime loans does not required VOR/VOM.Exception remains- Per guidelines dated XXX, mortgage and rental payment not reflected on the original credit report must be documented with cancelled checks.XXX- Lender responded that lien was not an mortgage but and mechanic lien that was attach to title.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: Borrower had a XXX of employment as date of termination XXX from previous job and new job start date was XXX month from application date of XXX (VVOE does not state the start date with new employer). A letter of explanation is required if the XXX exceeds XXX days.

- Client/Seller Response Comments: XXX - Lender provided a VVOE for the current employer of which is before the termination date of the previous employer (no XXX).

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Ability to Repay/Qualified Mortgage: TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status.

- Client/Seller Response Comments: XXX- Lender responded which borrower that a XXX letter is required for. Exception remains- XXX letter required for primary borrower, XXX - Lender provided a VVOE for the current employer of which is before the termination date of the previous employer (XXX).

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: .XXX months reserves shortfall. Verified reserves of XXX is .XXX months short required XXX months PITI reserves.

- Client/Seller Response Comments: XXX Lender provided exception approval for reserves of XXX is .XXX months short required.

- XXX Conclusion Comments: XXX After further review by XXX exception downgraded to non-material. Borrower has residual income of $XXX monthly and co borrower has more than XXX years at current job. XXX final grade XXX.

XXX: Co-Borrower has significant time at current job

- XXX Comments: B2, has significant time of XXX years at current job.

XXX: DTI below guideline requirement

- XXX Comments: Borrowers DTI of XXX% is below the maximum allowable DTI of XXX%, per guidelines.

Income: B1 is a wage earner and is paid XXX-Monthly in the amount of $XXX monthly base pay. B1’s income is also supported by the VOE, (XXX) Years W2’s, (XXX) years XXX Tax Returns, (XXX) years tax transcripts, most recent paystubs. Schedule C Loss of (XXX).

B2: is a wage earner and is paid XXX-Weekly in the amount of $XXX monthly base pay, used a more conservative amount of XXX monthly to qualify B2. B2’s income is also supported by a VOE, WVOE, (XXX) Years Personal Tax Returns, (XXX) years transcripts, most recent pay stubs.

Assets/Reserves: .XXX months reserves shortfall. Verified reserves of XXX is .XXX months short required XXX months PITI reserves.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081011361

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Affiliate Business Disclosure was not provided

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX [Last CD], Section: Other Costs, Field: Is the Other Cost section properly formatted?, Value: No. E. Recording Fees are not Itemized.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing XXX valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided XXX with a value of $XXX, supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: borrower has been in current residence for the last XXX years

XXX: Significant time in profession

- XXX Comments: borrower has been in current profession last XXX years

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum allowed per lender approval of XXX%. Typical maximum DTI is XXX%.

INCOME - Self-Employed, income derived using XXX month Personal Bank Statements showing XXX in deposits / XXX, used more conservative income of XXX.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011970

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: TRID - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

XXX: Insurance: Missing XXX Document

- Initial XXX Comments: Missing XXX

- Client/Seller Response Comments: XXX Lender provided XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: Assets: Assets reflect unsourced deposits

- Initial XXX Comments: Please provide source of $XXX deposit dated XXX to checking account XXX. Check to borrower is on file but need reason/source borrower is receiving a check for $XXX such as XXX from sale of property or other documentation to verify source.

- Client/Seller Response Comments: XXX Lender provided letter of explanation and receipt from XXX where an individual sold $XXX in XXX yet there is nothing on receipt to tie borrower to the sale. The XXX address is the same but apartment is different from borrowers. Exception remains. XXX Lender provided another letter of explanation for assets. Please provide the bank account information as to where it was deposited and how it was received. Exception remains. XXX Lender provided bill of sale from purchaser of $XXX in XXX which is consistent with cashiers check and deposit.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Legal Documents: Loan File is Missing or Contains Insufficient Documentation for Basic Review

- Initial XXX Comments: Documentation from title company indicates borrower has been divorce, final 1003 shows a payment of $XXX for unknown. A copy of the divorce decree or separation agreement with all pages is missing. A processor cert is in the file stating that the divorce decree is for the borrowers current husband, who is not on the loan. However the final 1003 still states $XXX for XXX/XXX. Please supply sufficient evidence that this $XXX amount is for the husband and not the borrower.

- XXX Conclusion Comments: XXX - Added payment of $XXX to 1003 of which the back end DTI is XXX% < maximum DTI of XXX% Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - LE delivered only via e-mail but there is no prior e-sign consent in file; by regulation, LE must be treated as not delivered

- Initial XXX Comments: LE dated 1XXX confirmed receipt is eSigned, no evidence in file of an eSign Consent Disclosure present.

- Client/Seller Response Comments: XXX - Exception remains.XXX - Lender provided econsent form. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - CD: Loan consummated before end of waiting period

- Initial XXX Comments: Initial CD dated XXX confirmed receipt is not signed or XXX by borrower. Unable to determine if CD was confirmed or viewed my borrower's electronically. Final CD dated XXX confirmed receipt is hand signed on XXX, no evidence of an eSign consent disclosure provided in file.

- Client/Seller Response Comments: XXX - Lender provided evidence of borrower receipt. Exception satisfied.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - CD delivered only XXX but there is no prior e-sign consent in file; by regulation, CD must be treated as not delivered

- Initial XXX Comments: No e-sign consent in file.

- Client/Seller Response Comments: XXX - Exception remains.XXX - Lender provided econsent form. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Loan is short reserves. Guidelines require four months of reserves, however, the borrower only has $XXX or XXX months of PITI reserves.

- Client/Seller Response Comments: XXX Lender provided exception approval for reserves not met.

- XXX Conclusion Comments: XXX After further review by XXX exception downgraded to non-material. Borrower has residual income of $XXX and DTI% of XXX, max is XXX%. Clayton final grade XXX.

XXX: Credit score exceeds guidelines

- XXX Comments: Mid score = XXX. minimum per guidelines is XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI = XXX%, max per guidelines is XXX%.

Income: Bank stmt income from XXX ending in #XXX , worksheet has been uploaded to the file, monthly income of $XXX.

Assets: XXX and XXX , borrower had a large deposit of XXX on XXX , copy of the check is in file. The borrower has $XXX months of PITI reserves.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011926

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: CD XXX [Last CD], General CD Information, Date Issued,- XXX XXX [Last CD], Loan Disclosures, Can Allow Assumption, -CD XXX [Last CD], Loan Disclosures, CanNot Allow Assumption, - YesEntered information as disclosed. Please correct with LOX/PCCD.

XXX: XXX Integrated Disclosure: XXX - CD: The value for Funds for Borrower in the XXX column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: XXX dated XXXXXX [Last XXX], Calculating Cash To Close, Funds for Borrower, Value is -$XXX; however, CD dated XXX[Last CD], Calculating Cash to Close, Funds for Borrower - Loan Estimate, Value is -XXX. Values do not match. Please provide missing LE/CD with proof of delivery.

XXX: XXX Integrated Disclosure: XXX - CD: The value for Cash to Close in the XXX column of the CD's Calculating Cash to Close table is different from the value disclosed on the last XXX

- Initial XXX Comments: XXX dated XXX [Last XXX], Calculating Cash To Close, Estimated Cash to Close, Value is -XXX; however, CD dated XXX [Last CD], Calculating Cash to Close, Cash to Close - Loan Estimate, Value is XXX. Values are not a match. Please provide missing LE/CD and proof of delivery.

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: Provide a VOE within XXX days of closing.

XXX: XXX Integrated Disclosure: TRID - CD: The Total Minimum Payment disclosed in at least XXX column of the Projected Payments section of the Final Closing Disclosure does not match the Total Minimum Payment that XXX calculates.

- Initial XXX Comments: XXX: Lender provided a XXX Agreement changing the Margin to XXX%. This margin is used to calculate the minimum payments on the projected payments section of CD. The review calculates the total minimum payments for bands XXX to be $XXX and for band XXX to be $XXX

- Client/Seller Response Comments: XXX: Lender provided a Loan Modification Agreement changing the Margin to XXX%, letter of explanation and proof of delivery. Minimum Payment values on the CD match the system calculations.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: TRID CD: The Minimum Payment disclosed in at least XXX column of the Final Closing Disclosure does not match the Minimum Payment that XXX calculates based upon the Note Terms

- Initial XXX Comments: XXX: Lender provided a XXX Agreement changing the Margin to XXX%. This margin is used to calculate the minimum payments on the projected payments section of CD. The review calculates the minimum payments for bands XXX to be $XXX and for band XXX to be $XXX

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: The Margin on the XXX Table of the Final Closing Disclosure does not match the Margin on the Note

- Initial XXX Comments: XXX: Lender provided a XXX Agreement changing the Margin to XXX%. This margin does not match the margin of XXX% on the XXX table of PCCD XXX

- Client/Seller Response Comments: XXX: Lender provided a XXX Agreement changing the Margin to XXX% which matches the margin on the XXX table, letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: The Minimum Interest on the XXX Table of the Final Closing Disclosure does not match the Minimum Interest Rate on the Note

- Initial XXX Comments: XXX: Lender provided a XXX Agreement changing the Margin to XXX%. This margin does not match the minimum interest rate of XXX% on the XXX table of PCCD XXX

- Client/Seller Response Comments: XXX: Lender provided a XXX Agreement changing the Margin to XXX% which matches the Minimum Interest on the XXX table, letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: XXX: Finance charge understated by more than $XXX (XXX)

- Initial XXX Comments: Finance charge understated by more than $XXX (XXX)Finance Charge Difference - TRID: -XXX

- Client/Seller Response Comments: XXX: Lender requested clarification of this exception and the review calculations. XXX: After review from the Compliance team, the client appears to have used Fully Indexed Rate of XXX%, actual should have been XXX%, which caused the Finance Charge and TOP discrepancy. Exception remains. Cure via refund of the amount of the underdisclosure, or, if an XXX and the index is less than the lowest index during the lookback period, reduction in the margin to match the FIR disclosed; LOX; XXX rescission; Proof of delivery. Within XXX days of discovery. XXX: Lender requested a re-look at this exception and said the disclosed amount of $XXX is only $XXX under the correct amount of $XXX. However, based on the index the lender used, the XXX calculated finance charge is $XXX and under disclosed by $XXX. Exception remains. XXX: Lender sent email with margin of XXX% to review to see if it will work for a loan modification to clear exception. After review from the Compliance team, a reduction in the margin to XXX% on a loan modification would satisfy. Exception remains. XXX: Lender provided a Loan Modification Agreement changing the Margin to XXX% and a letter of explanation. However, the proof of delivery was not included. Exception remains.XXX: Lender provided a XXX Agreement changing the Margin to XXX%, letter of explanation and proof of delivery. Finance Charge is within tolerance.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: The Total Payment Amount on the Loan Calculation section of the Final Closing Disclosure is less than the XXX Calculated Total Payment Amount

- Initial XXX Comments: CD XXX [Last CD], Loan Calculation, Total of Payments, CD $ XXX, eCLAS $XXX Enter information as disclosed, Please correct with LOX/PCCD.

- Client/Seller Response Comments: XXX: Lender requested clarification of this exception and the review calculations. XXX: After review from the Compliance team, the client appears to have used Fully Indexed Rate of XXX%, actual should have been XXX%, which caused the Finance Charge and TOP discrepancy. Exception remains. Cure via refund of the amount of the underdisclosure, or, if an XXX and the index is less than the lowest index during the lookback period, reduction in the margin to match the FIR disclosed; LOX; Reopen rescission; Proof of delivery. Within XXX days of discovery. XXX: Lender requested a re-look at this exception and said the disclosed amount of $XXX is only $XXX under the correct amount of $XXX. However, based on the index the lender used, the XXX calculated finance charge is $XXX and under disclosed by $XXX. Exception remains. XXX: Lender sent email with margin of XXX% to review to see if it will work for a XXX to clear exception. After review from the Compliance team, a reduction in the margin to XXX% on a loan modification would satisfy. Exception remains. XXX: Lender provided a XXX Agreement changing the Margin to XXX% and a letter of explanation. However, the proof of delivery was not included. Exception remains.XXX: Lender provided a XXX Agreement changing the Margin to XXX%, letter of explanation and proof of delivery. XXX value is now within tolerance.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: The Total Interest Percentage on the Loan Calculation section of the Final Closing Disclosure is less than the XXX Calculated Total Interest Percentage

- Initial XXX Comments: CD XXX [Last CD], Loan Calculation, - TIP, CD -XXX, XXX - XXX Entered information as disclosed, Please correct with XXX

XXX: LTV/CLTV: LTV Exceeds Guideline Requirement by less than XXX%

- Initial XXX Comments: Cash out with FICO XXX and delinquency XXX+ is max XXX% LTV. XXX matured XXX.

- Client/Seller Response Comments: XXX- Client required approved exception request as not meeting the required maximum LTV of XXX%.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception deemed Non-Material due to back end DTI XXX% and XXX months of PITI. XXX final grade XXX.

- Related Compensating Factors:

- Significant time in profession - Borrower has been in the same profession for XXX years.

- Significant time at current residence - Borrower has owned the subject property for XXX years.

- DTI below guideline requirement - DTI is XXX%, the maximum DTI is XXX%.

XXX: Significant time in profession

- XXX Comments: Borrower has been in the same profession for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrower has owned the subject property for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%, the maximum DTI is XXX%.

INCOME: Per paystub, Borrower earns $XXX per hour. $XXX per month.

ASSETS: Borrower has verified assets of $XXX and received $XXX in hand at closing.

QM: Rebuttable Presumption

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081011398

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: The final CD reflects loan is not assumable, the arm rider reflects the loan is assumable. values do not match.

XXX: Finance Charge Tolerance: TILA/TRID-Disclosed Amount Financed is higher than XXX calculated Amount Financed

- Initial XXX Comments: Disclosed Amount Financed of $XXX is higher than the calculated Amount Financed of XXX with a difference of XXX.corrected by PC CD XXX Exception satisfied.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary Valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender Provided Clear Capital Desk Review, value supporting appraisal Value

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: TILA/RESPA Integrated Disclosure: TRID - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, loan costs, XXX missing payee. Corrected by PC CD XXX.Exception satisfied

- XXX Conclusion Comments: XXX: Exception satisfied since corrected on XXX

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: XXX years at current job

XXX: DTI below guideline requirement

- XXX Comments: The back end DTI of XXX% is < maximum DTI of XXX%.

Income: Borrower is Self-Employed, income derived using XXX months of XXX bank statements deposits. Statements verified from XXX

Total deposits $XXX- minus excluded deposits $XXX

Per P&L total income $XXX divided by expenses XXX% expense ratio. P&L deposits not within XXX% of deposits.

Expense ratio----$XXX

Total income---XXX, used more conservative income of XXX monthly pay.

Post close reserves of XXX, guidelines require XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081011797

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Verified post close cash reserves of $XXX or XXX months. Four months are required. Lender provided exception in file.

- Client/Seller Response Comments: XXX- Client required approved exception request to use XXX reserves required of XXX months.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception is now deemed non-material due to XXX years with employer, XXX% LTV and median credit score of XXX. XXX final grade XXX.

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower Paralegal for XXX years.

- Credit score exceeds guidelines - Borrower's median credit score of XXX is > minimum required score of XXX.

- LTV below guideline requirements - The maximum LTV of XXX% is < maximum of XXX%.

XXX: Property: Property Issues Indicated XXX

- Initial XXX Comments: Subject property is currently in pending litigation of which is deemed to be material as amount > $XXX. The solution to the problem must be deemed acceptable by XXX however it is not mentioned on the Credit Risk Summary Exception Worksheet.

- Client/Seller Response Comments: XXX - Lender provided the XXX for the pending litigation however it did not state the solution. Exception remains.XXX- Client required approved exception request as not XXX in pending litigation.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception is now deemed Non-Material due to the XXX budget has reserve funds of $XXX of which is enough to cover the amount. XXX final grade XXX.

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower Paralegal for XXX years.

- Credit score exceeds guidelines - Borrower's median credit score of XXX is > minimum required score of XXX.

- LTV below guideline requirements - The maximum LTV of XXX% is < maximum of XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower Paralegal for XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: Borrower's median credit score of XXX is > minimum required score of XXX.

XXX: LTV below guideline requirements

- XXX Comments: The maximum LTV of XXX% is < maximum of XXX%.

Income : Borrower is Self-Employed, income derived using XXX months personal bank statements. Total deposits (less excluded deposits) XXX are $XXX qualifying monthly income.

Assets: Verified post close cash reserves of $XXX months. XXX months are required. Lender provided exception in file.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011917

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Missing month of XXX payment to XXX to complete XXX months of consecutive payment history.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraisal of $XXX.

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrowers have XXX year at current residence.

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-Borrower in same profession XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower in same profession for XXX years.

Income:

Income: Borrower is paid Weekly, income derived using YTD XXX paystub (XXX) monthly base pay. Income supported by paystubs, W-2s and Verbal VOE.

Income: Borrower is paid XXX-Weekly, income derived using YTD XXX paystub (XXX) monthly base pay.

Income supported by paystubs, W-2s and Verbal VOE.

Borrowers also receive monthly rental income on XXX properties. See Rental income worksheet $XXX

Assets-

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required.

ATR/QM: Not Applicable

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80081011909

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX:XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX, XXX [Last CD], Section: Loan Costs, Is the Loan Costs Details section properly formatted?, Value: No- Service Provider not indicated for Third-Party Processing Fee.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.Updated:

- Client/Seller Response Comments: XXX- Lender Provided Clear Capital Desk Review, appraisal value is supported with a XXX% variance.

- XXX Conclusion Comments: XXX Exception satisfied

(No Data)

XXX: Significant time in profession

- XXX Comments: B1, has XXX year in the same profession.

XXX: Significant time at current residence

- XXX Comments: Borrowers have lived at current residence for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: Borrowers DTI of XXX% is below the maximum allowable DTI of XXX%.

XXX: Postive mortgage payment history

- XXX Comments: Borrowers have positive mortgage history, reflecting XXX within the last XXX months.

XXX - see uploaded income calc XXX monthly, used income from p&l of XXX monthly.

B2:XXX

reserves sourced:

Months PITI Reserves XXX

Months PITI Reserves (Qual Rate) XXX

Cash Reserves $XXX

required: XXX months piti, met

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Paystub - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

(No Data)

80081011531

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: Credit score of XXX is below required XXX score for use of XXX months XXX Bank Statements.

XXX: XXX Consumer Protection: XXX - Required XXX Disclosure missing

- Initial XXX Comments: XXX Disclosure missing

- Client/Seller Response Comments: XXX: Lender provided an Initial XXX Disclosure statement. However, Loan Changed to an Adjustable Rate on CD XXX and an XXX should have been provided to the borrower but is not in file. Exception remains.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX XXX. XXX full appraisals in file and support each other with XXX%.

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least XXX business days prior to closing

- Initial XXX Comments: Product change from LE XXX to Final CD XXX. Changed from XXX to ARM. Need evidence that product change was acknowledged XXX days prior to consummation.

- Client/Seller Response Comments: XXX: Lender provided revised CD dated XXX with product changed to an XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: Inconsistency between the amounts disclosed for the Homeowners' Insurance premium in one or more sections of the CD

- Initial XXX Comments: Final XXX, Section: Other Costs, Prepaids Homeowner Insurance Amount stated as $XXX over a number of XXX months = $XXX However in Section: Other Costs, Initial XXX Homeowner Insurance Amount Per Month is stated as $XXX

- Client/Seller Response Comments: XXX: Lender provided PCCD XXX with correction, letter of explanation to borrower and proof of delivery.

- XXX Conclusion Comments:XXX: Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX [Last CD], Section: Summaries of Transactions. Missing the attach page for the additional information.

- Client/Seller Response Comments: XXX: Lender provided PCCDXXX with payoff attachment.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrowers had Post Closed reserves available in the amount of $XXX; (PITIA $XXX)

XXX: Borrower does not have any major mortgage related occurrences during the past XXX years

- XXX Comments: Borrower does not have any major mortgage related occurrences during the past XXX years

XXX: High potential for increased earnings

- XXX Comments: Borrowers have a high potential for increased earnings.

B1, is Self Employed and income was calculated using (XXX) month XXX bank statement review. B1’s total wages earned from XXX totaled $XXX% profit margin / XXX = $XXX per month. A Profit & Loss Statement was also provided dated XXX reflecting Net earnings of XXX Monthly. B1’s income was also supported by a XXX, VOE, and Proof of Business existence.

Per the Final CD dated XXX, Borrowers received cash back in the amount of XXX at closing. Borrowers had Post Closed reserves available in the amount of $XXX; (XXX)

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011509

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section A. field Broker's fee - missing payee's name Final CD XXX. section E. field Recording - missing amounts for Deed/ Mortgage itemization

- Initial XXX Comments: CD XXX section Calculating Cash to Close, field - Adjustments and Other Credits is $XXX. section Summaries of Transactions Adjustments reflects Adjustments XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has been in same profession for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX%, max per guidelines is XXX%

Income-

borrower is self employed- used alt docs- XXX months business bank statements to qualify. Reviewed bank statements from XXX. total deposits $XXX-excluded=XXX.

Used lender monthly income of $XXX as its most conservative.

Income supported by bank statements, CPA letter, business license and incorporation documents, and verbal VOE.

Assets- Cash reserves of $ XXX months PITIA reserves, exceeds guide lines of XXX months XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011294

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest of amt prepaid in XXX mos if amt prepd >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Co-Borrower has significant time at current job

- XXX Comments: XXX years at current job per application.

XXX: LTV below guideline requirements

- XXX Comments: XXX%. Max allowed is XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX. Minimum required for current LTV is XXX.

Income:

B1: Base $XXX derived from XXX statements ($XXX months. Lender used $XXX, so I am using that figure to be conservative.

Assets/Reserves: Verified post close assets of $XXX, or XXX months PITI reserves. XXX months reserves are required. Credit summary mentions exception with approval signature, but no date on the approval.

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

Lease Agreement - XXX months

Personal Bank Statements - XXX months

(No Data)

80081011508

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Written List of Providers not provided or untimely

- Initial XXX Comments: Written List of Providers not provided

XXX: Appraisal: Completed "XXX" w/o Completion Cert in File

- Initial XXX Comments: Completion cert for subject to items on appraisal not in file. There are other "as is" appraisals in file but by same appraiser on same day. Photos indicate additional work is needed.

- Client/Seller Response Comments: XXX - Lender provided the XXX and the appraiser states that the permit is still open. Exception remains.XXX - Lender provided the XXX that the building permit is now closed; the pool clean and refilling cost to cure is $XXX

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender Provided Clear Capital Desk Review, value supporting appraisal Value

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: Ltv is XXX%, max per guidelines is XXX%

XXX: DTI below guideline requirement

- XXX Comments: Borrower's dti is XXX%, max per guideline is XXX%

Income: bank statement income XXX month . $XXX monthly . Calculator uploaded to file.

Assets:

XXX and XXX XXX. Borrower has cash reserves of XXX

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80081011264

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

Not Applicable

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: MISSING SECONDARY VALUATION FOR SECURITIZATION SUPPORTING APPRIASED VALUE OF $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital CDA supported value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Legal Documents: Missing Legal Document(s)

- Initial XXX Comments: Final 1003 reflects borrower pays child support/XXX. Per the guidelines, documentation requirements for XXX and child support payments a copy of a divorce decree, formal separation agreement, court order or any other written legal agreement to document amounts owed and the remaining term of the payments. Documents are missing from the credit file.

- Client/Seller Response Comments: XXX- Lender provided updated 1003 reflecting correction initial by borrower that they are not obligated to pay child support/XXX

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: Inconsistency between the amounts disclosed for the components of the XXX amount in Other Costs and the total XXX amount disclosed in Loan Disclosures

- Initial XXX Comments: Amount for XXX Costs Over Year XXX disclosed as $XXX only totals XXX months. Corrected post close CD required.

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX with the XXX Costs Over Year XXX value to reflect XXX months and a letter of explanation to the borrower.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned his home XXX years and XXX months.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years and XXX months at job

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

B2: Per XXX business bank statements,XXX% Expenses XXX

Used UW calculation of XXX

Assets: Borrower has $XXX in reserves; XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Lease Agreement - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011114

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX Desk review provided supports appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been at current job/profession for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrower has been at current residence for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: Borrower's dti of XXX is below guideline requirement of XXX%.

Income:

Borrower is Self-Employed, income derived using XXX months Business Bank Statements, (XXX% expense ratio = profit margin of XXX. Lender's monthly average qualifying income $XXX.Using XXX as is more conservative.

Assets/Reserves:

Verified post close assets of XXX.

Subject XXX months $XXX

XXX months piti $XXX for other rental at XXX XXX

Total reserves required on both subject and other rental = $XXX.

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

DSCR - w/rent schedule - XXX months;

Lease Agreement - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081011767

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD dated XXX - Loan Costs Section A: Broker's fee is missing payee's name.Final CD XXX, section E. field Recording - missing amounts fro Deed/ Mortgage itemization.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: XXX years at current residence per application.

XXX: Borrower has significant time at current job

- XXX Comments: XXX years at current job per application.

XXX: LTV below guideline requirements

- XXX Comments: XXX%. Max allowed is XXX%.

Product: Full doc, cash-out, Primary

Income:

B1: Base XXX derived from XXX XXX (XXX months). Lender used XXX month average; updated income calculation - income is declining used XXX month most recent year avg XXX

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. Minimum required is XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80081011907

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

Full Appraisal

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: 1. CD: XXX Other Costs is improperly formatted due to F:XXX. Prepaids - Property taxes missing # of months.2. CD: XXX Other Costs is improperly formatted due to E:XXX missing breakdown of recording fees.3. CD: XXX Summaries of Transactions K:XXX XXX XXX dues is missing payment through dates.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: XXX reflects the loan is assumable but the final CD reflects loan is not assumable, value do not match.

XXX:XXX Integrated Disclosure: XXX - Closing Disclosure; Optional designation missing from optional insurance product

- Initial XXX Comments: CD XXX Other Costs, XXX missing optional for XXX.

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has been In same profession XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been In current job for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below guideline of XXX%.

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% below guideline of XXX%.

Income: Borrower is Self-Employed, income derived using XXX months XXX Bank Statements.

Total Deposits XXXexpenses

$XXX expenses = $XXX average monthly income.

Lender's monthly average income calculation $XXX per month. This is being used as qualifying income

as it is more conservative.

Income supported by Bank Statements, CPA Letter and evidence of existence of business, i.e. XXX and secretary of state.

Assets/Reserves: Verified post close assets of $XXX or XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081011702

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: State Consumer Protection: XXX No acknowledgement of XXX Tax/Insurance Disclosure in file

- Initial XXX Comments: Missing Acknowledgement of XXX Tax/Insurance Disclosure

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value

- XXX Conclusion Comments: XXX: Exception satisfied

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is below guide line requirement of XXX% at XXX.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves exceed guidelines, of XXX months with XXX months PITI reserves.

Income-

Borrower is self employed. Used alt docs XXX months personal bank statements to qualify. Reviewed bank statements from XXX. total deposits of $ XXX. Used$ XXX as monthly income.

Income supported with bank statements, business license/documents, verbal VOE.

Assets- Cash reserves of $XXX months PITI reserves, exceeds guide lines of XXX months or $XXX.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111596

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Missing

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $1XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: LTV/CLTV: LTV Exceeds Guideline Requirement by at least XXX%, but less than XXX%

- Initial XXX Comments: Maximum LTV for DSCR per guidelines is XXX%.

- Client/Seller Response Comments: XXX- Client required approved exception request as over the maximum LTV for DSCR loan.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception is now deemed Non-Material due to XXX months of PITI reserves and median credit score of XXX. XXX final grade XXX.

- Related Compensating Factors:

- Credit score exceeds guidelines - Credit Score XXX exceeds guidelines XXX.

- Verified cash reserves exceed guidelines - Post Close Reserves $XXX for XXX months. XXX months reserves required ($XXX) Surplus $XXX

- Significant time at current residence - Borrower has XXX years XXX months at current residence.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds guidelines XXX.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX for XXX months. XXX months reserves required ($XXX) Surplus $XXX

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years XXX months at current residence.

DSCR XXX

Assets - Post Close Reserves XXX months. XXX months reserves required (XXX) Surplus $XXX

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

DSCR - w/rent schedule - XXX months

(No Data)

80081111414

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Credit/Mtg History: Length of mortgage/rental history in file does not meet guideline requirement

- Initial XXX Comments: File is missing verification of prior rental/mortgage payment history verifying residential pay history of no more than XXX in the last XXX months.

XXX: XXX Integrated Disclosure: TRID - XXX discovered on Closing Disclosure

- Initial XXX Comments: CD XXX Projected Payments Section. XXX Breakdown. Other is checked and description of Other is not listed. Projected Payments does not match Loan Disclosure XXX Section. Lender to provide LOE, Post Consummation CD correcting errors and Confirmation of Delivery within XXX Days.

- Client/Seller Response Comments: XXX - Client provided correct PC CD. Exception satisfied.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been with current employer for XXX years.

XXX: LTV below guideline requirements

- XXX Comments: XXX% LTV is XXX% below the maximum allowable LTV of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX is XXX points higher than the minimum required score of XXX.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITIA reserves; XXX months required.

XXX: DTI below guideline requirement

- XXX Comments: XXX/XXX% DTI ratios are below the maximum allowed DTI ratios of XXX%.

Income:

B1 self employment income of $XXX/month was supported using average deposits from XXX months personal bank statements less unallowable deposits. Lender used XXX/month to qualify.

Assets:

Borrower has XXX months of PITIA reserves; XXX months PITIA reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111584

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of XXX not compliant

- Initial XXX Comments: List of XXX not compliant - borrower's acknowledgment of receipt in file however actual list of XXX organizations is missing.

XXX: XXX Integrated Disclosure: TRID - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Per XXX , loan is assumable under certain conditions. Final CD indicates loan is not assumable. Values are not matching.

XXX: Credit/Mtg History: Length of mortgage/rental history in file does not meet guideline requirement

- Initial XXX Comments: Per XXX in file borrower lives rent free with spouse who is sole owner of free and clear property at XXX. Guidelines state rent free is not allowed. Documentation needed to allow rent free on subject loan. If prior housing expense remains $XXX, then payment shock exceeds guidelines.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Final 1003 shows other XXX located at XXX, XXX. There is no documentation in file for this property to validate PITI(XXX), to confirm borrower as owner and to validate a positive mortgage payment history. No mortgages show on credit report and no additional properties indicated on Loan Safe report.

- Client/Seller Response Comments: XXX - Lender provided a mortgage statement for what appears to be the spouse name with address of XXX. If not owned by the Borrower, provide an updated 1003 removing the REO from the 1003. Exception remains.XXX Lender provided 1003 with no XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: B1, has lived at current residence for XXX years.

XXX: Significant time in profession

- XXX Comments: B1, has been Self Employed for XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: B1, has been with current company for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close cash reserves of $XXX or XXX months. XXX months required. (XXX) total required reserves.

B1, is Self Employed and income was calculated using (XXX) month XXX bank statements review. B1’s total wages earned from XXX totaled XXX (Less deposits) of $XXX Monthly. B1’s income was also supported by a XXX, VOE, and Proof of Business existence.

Verified post close cash reserves of $XXX months. XXX months required. (XXX) total required reserves.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111954

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: On Final CD, Summaries of Transactions section does not include payoffs of prior mortgage and other debts included in the Payoff addendum to the CD. Please provide a correct post close CD.

- Client/Seller Response Comments: XXX - Client provided PC CD. Exception remains.

XXX: XXX: XXX - List of XXX not compliant

- Initial XXX Comments: Missing XXX List

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

- Client/Seller Response Comments: XXX - Client provided PC CD. Exception remains.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX.

- Client/Seller Response Comments: Lender provided clear capital desk review, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - CD: Inconsistency between the amounts disclosed for the Homeowners' Insurance premium in XXX or more sections of the CD

- Initial XXX Comments: $XXX. Homeowner Insurance Amount Per Month is $XXX

- Client/Seller Response Comments: XXX- Client provided PC CD. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Missing minimum XXX months reserves. Borrowers are short approximately $XXX in reserves.

- Client/Seller Response Comments: XXX- Client required approved exception request as not having sufficient reserves.

- XXX Conclusion Comments: XXX- Upon further review byXXX, exception is now deemed Non-Material due to XXX years significant time in profession and LTV < XXX%. XXX final grade XXX.

- Related Compensating Factors:

- LTV below guideline requirements - LTV is below guide line requirement of XXX% at XXX

- Significant time in profession - borrower has been in same line of work for XXX years.

XXX: LTV below guideline requirements

- XXX Comments: LTV is below guide line requirement of XXX% at XXX

XXX: Significant time in profession

- XXX Comments: borrower has been in same line of work for XXX years.

Income-

Borrower- used base XXX paystub ending XXX.

Income supported by paystubs, WVOE, w2s, tax returns, tax transcripts, and verbal VOE.

Co-borrower- lender didn't use co-borrower income to qualify.

Assets- Cash reserves of XXX months PITI reserves. Borrower needs a minimum of XXX months reserves or XXX. Borrowers are short approximately $XXX in reserves.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081111647

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: XXX: XXX -Loan secured by investment property, cannot determine if XXX is applicable b/c cannot verify if primary use of funds was XXX or XXX.

- Initial XXX Comments: Provide XXX for purpose of cash-out proceeds.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraisal of $XXX

- Client/Seller Response Comments: XXX Desk review provided supports appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Missing Verification of taxes for property located at XXX

- Client/Seller Response Comments: XXX Lender provided tax sheet for XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: Property: Property Issues Indicated

- Initial XXX Comments: Appraisal states that the subject is XXX. The 1003 states that the subject is an investment property.

- Client/Seller Response Comments: XXX Lender provided exception approval for property as owner occupied.

- XXX Conclusion Comments: XXX After further review by senior underwriter exception downgraded to non-material. Borrower has been at current residence for XXX years and the LTV of XXX% is below guideline of XXX%..

- Related Compensating Factors:

- Significant time at current residence - Borrower has been at current residence for XXX years.

- LTV below guideline requirements - LTV of XXX% is below guideline of XXX%.

XXX: Significant time at current residence

- XXX Comments: Borrower has been at current residence for XXX years.

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% is below guideline of XXX%.

Income:

Subject XXX is XXX. Market Rent $XXX.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80081111388

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Short Form Limited Final

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not in file

- Initial XXX Comments: Acknowledgement of receipt of XXX List in file however list is missing.

XXX: TILA/RESPA Integrated Disclosure: TRID - CD: Inconsistency between the amounts disclosed for the Homeowners' Insurance premium in one or more sections of the CD

- Initial XXX Comments: CD: XXX-Inconsistency between the amounts disclosed for the Homeowners' Insurance premium in sections prepaids HOI at XXX months documented totaling $XXX. In section Initial XXX at closing XXX shows month XXX XXX payment of XXX therefore section prepaids XXX should total $XXX instead of XXX.

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX, a letter of explanation and proof of delivery. A refund of $XXX to borrower for excess funds collected at closing is required. Provide a copy of the refund check to borrower and proof of delivery. Exception remains. XXX: Lender responded that they do not refund borrower the HOI. They let their accounting dept. make adjustments on monthly payments and send to borrower. After review from the Compliance team, the concern is if any payments were collected prior to change on PCCD. If not, then the PCCD along with a letter to the servicer reflecting the adjusted amount to be collected would be a sufficient cure. Exception remains.XXX: Lender stated the loan was transferred to their sub-servicer on XXX and they will do an XXX analysis within XXX days of boarding. Any overages will be refunded to the borrower. After review from Compliance, if the servicer has already done it, we would want the analysis instead of the letter. If the analysis is not available then a billing statement or something similar will work. Exception remains.XXX: Lender provided analysis and evidence of principal reduction. Exception satisfied.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Legal Documents: Missing proof that XXX has been paid and closed to future draws

- Initial XXX Comments: Provide documentation hat supports the closure of the XXX to future draws once paid.

- Client/Seller Response Comments: XXX- Lender provided a closed line of credit letter however does not state the Borrower's name, loan number or Bank that it belongs to. Exception remains.XXX - Lender provided the first pay of the payoff of XXX however the page whereas the Borrower signed the XXX is missing. Exception remains.XXX - Lender provided the fully executed XXX to close account.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: XXX: Employment verification does not meet guidelines

- Initial XXX Comments: Provide documentation of borrower's percentage of ownership of business.

- Client/Seller Response Comments: XXX- Lender provided the CRE for percentage of ownership not met; this will not suffice as the qualifying income must be multiplied by the percentage of ownership. Exception remains.XXX - Lender provided the Contractor's State License for XXX Construction dated XXX showing Borrower is the XXX. The license does not state the Borrower's name however can tie to the XXX as the license address and address on the bank statements are one in the same.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk review which support appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Missing support documents for VOM or canceled checks as proof of payments for XXX with XXX.

- Client/Seller Response Comments: XXX- Client required approved exception request as not meeting the documentation of proof of payments of the XXX.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception is now deemed Non-Material due to back end DTI XXX%, XXX years with employer, XXX months of PITIA reserves and median credit score of XXX. XXX final grade XXX.

- Related Compensating Factors:

- DTI below guideline requirement - DTI is below guide line requirement at XXX

- LTV below guideline requirements - LTV is below guide line requirements at XXX%.

- Verified cash reserves exceed guidelines - Verified cash reserves exceed guide lines with XXX months PITIA reserves.

XXX: DTI below guideline requirement

- XXX Comments: DTI is below guide line requirement at XXX

XXX: LTV below guideline requirements

- XXX Comments: LTV is below guide line requirements at XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves exceed guide lines with XXX months PITIA reserves.

Income: Borrower is Self-Employed, used XXX months XXX Bank statements. Reviewed bank statements from XXX. Total deposits as per P and L XXX-expenses=$XXX monthly pay.

Income supported with bank statements, business license/documents, P and L, and verbal VOE.

Assets- Cash reserves of $XXX months PITIA reserves, exceeds guide lines of XXX months of XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111541

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd if amt prepd is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Not Applicable

(No Data)

XXX

(No Data)

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: Lender provided clear capital desk review, Value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV XXX% below guideline requirements XXX%

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX - XXX months. XXX months reserves required ($XXX) Surplus $XXX.

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years at current residence

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% below guideline requirement XXX%

XXX: Co-Borrower has significant time at current job

- XXX Comments: Borrower has XXX years at current job.

Income -

Letter from XXX lists Borrower Gross Income Taxable Income XXX $XXX, XXX $XXX, YTD XXX $XXX. Income used XXX month average XXX $XXX

Assets -

Post Close Reserves $XXX months. XXX months reserves required (XXX) Surplus $XXX.

ATR/QM: Not Applicable

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111386

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment of receipt in file but actual list of XXX organizations missing in file.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section Summaries of Transactions XXX, field Assessments - missing dates

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% below guideline requirements

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years XXX months at current job ( Incorporated).

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below guideline requirements XXX%

Income: Borrower is Self-Employed, XXX month average although submitted Bank Statement Worksheet does not list XXX months bank statements (missing XXX, XXX, XXX stated as missing). Statements were provided giving XXX average. Using more conservative Income of $XXX/month. CPA letter states expenses do not exceed XXX% and that Borrower is XXX% Owner of business.

Assets -

Post Close reserves $XXX months PITIA reserves. XXX months PITIA reserves are required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111519

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: Qualifying credit score of XXX is below the minimum required score of XXX. An approved exception request was provided in the file.

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower has been self-employed with current business for XXX years.

- Verified cash reserves exceed guidelines - XXX months PITI reserves; XXXmonths required.

- DTI below guideline requirement - XXX DTI ratios are below the maximum allowed DTI ratios of XXX.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX, section E. field Recording - missing amounts for Deed/ Mortgage itemization. CD XXX, section F. field Property Taxes - missing payee's name

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Per XXX , loan is assumable under certain conditions, however final CD XXX is indicating loan is not assumable.

XXX XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's receipt in file however actual list of XXX organizations missing list.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed with current business for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITI reserves; XXX months required.

XXX: DTI below guideline requirement

- XXX Comments: XXX/XXX% DTI ratios are below the maximum allowed DTI ratios of XXX/XXX%.

Income:

B1 self-employment income of $XXX/month was supported using average deposits from XXX months XXX bank statements less unallowable deposits. Lender used XXX/month to qualify.

Assets:

Borrower has $XXX months of PITI reserves; XXX months PITI reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111593

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations is missing.

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Missing XXX documents, confirming $XXX per month at XXX, XXX, XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Significant time in profession

- XXX Comments: Borrower has been in same profession for XXX years.

XXX: Significant time at current residence

- XXX Comments: Borrower has owned and rented her home for XXX years and XXX months.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds minimum rate of XXX, XXX points.

B1: Per XXX W2 and XXX Paystub, dated XXX

Per documentation provided, borrower is in receipt of SS for disabled son, $XXX

Assets: Borrowers have XXX in reserves; XXX months

Non-QM: Lender documented all ATR UW factors

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081111932

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Income/Employment: Verbal verification of employment missing

- Initial XXX Comments: Missing independent confirmation of business for borrower.

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Affiliate Business Disclosure was not provided in the supporting documents in the file

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk review which support appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Income/Employment: Income Amount is Unsupported by Documentation in File

- Initial XXX Comments: Provide a XXX year work history for the Borrower's Self-Employed business.

- Client/Seller Response Comments: Lender provided the Credit Risk Summary and Exception Approval based on compensating factors of back end DTI of XXX%, high residual income of $XXX and reserves of XXX months PITI reserves.

- XXX Conclusion Comments: Upon further review by XXX borrower has been in the same line of work XXX+ years with XXX+ months reserves. Exception deemed non-material

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - Total cash reserves of $XXX/$XXX months PITI, exceeds XXX months PITI reserves

- DTI below guideline requirement - DTI is below guide line requirement at XXX%, maximum DTI of XXX%.

XXX: Verified cash reserves exceed guidelines

- Clayton Comments: Total cash reserves of $XXX/$XXX3=XXX months PITI, exceeds XXX months PITI reserves

XXX: DTI below guideline requirement

- Clayton Comments: DTI is below guide line requirement at XXX%, maximum DTI of XXX%.

Income: Borrower is Self-Employed, income derived using XXX months XXX Bank Statements to qualify. Reviewed bank statements from XXX. total deposits less excluded= $XXX monthly pay, used more conservative income of $XXX.

Assets- Total cash reserves of $XXX months PITI, exceeds XXX months PITI reserves

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80081111520

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Evidence XXX was delivered to borrower but actual list of XXX organizations is missing in file.

XXX: XXX Integrated Disclosure: TRID - Closing Disclosure; Optional designation missing from optional insurance product

- Initial XXX Comments: Final CD XXX. section H. field XXX - Optional designation missing from optional insurance product

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section A. field Broker's fee - missing payee's name

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX/XXX%. Guideline maximum is XXX/XXX%

XXX: LTV below guideline requirements

- XXX Comments: LTV is XXX%. Guideline maximum LTV is XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets/Reserves: Verified post close assets of $ XXX or XXX months PITIA reserves. XXX months PITIA reserves required for the subject property( XXX) total reserves required.

XXX: Significant time in profession

- XXX Comments: Borrowers are in profession for XXX+ years.

Income: Borrower is Self-Employed. Income is derived using P & L statement in file- gross receipts $XXX minus total expenses $XXX monthly pay (XXX expense ratio), used more conservative income of XXX. Income is supported by: XXX, Articles of incorporation, and XXX months of business bank statement.

Assets/Reserves: Verified post close assets of $XXX months PITIA reserves. XXX months PITIA reserves required for the subject property (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111736

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX formatting, other costs, E:XXX missing breakdown of fees.

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Homeownership Counseling Organization is missing the list counseling organizations.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Desk review provided supports appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

XXX: XXX Integrated Disclosure: TRID - Error discovered on the Loan Estimate

- Initial XXX Comments: XXX formatting, missing the state in the XXX section. Corrected by CD XXX. Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been with current employer for XXX years.

XXX: LTV below guideline requirements

- XXX Comments: XXX% LTV is XXX% below the maximum allowed LTV of XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITI reserves; XXX months required.

XXX: DTI below guideline requirement

- XXX Comments: XXX% DTI is below the maximum allowed DTI of XXX%.

Income:

- B1 is paid $XXX weekly or $XXX using paystubs and a written VOE provided in the file.

- Lender deducted unreimbursed expenses of ($XXX)/month from the income.

Assets:

Borrower has $XXX months of PITI reserves; XXX months PITI reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

P & L - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081111703

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months reserves required per guidelines (XXX = $XXX); total reserves verified XXX months

XXX: Significant time at current residence

- XXX Comments: Borrower has owned current residence for XXX years.

INCOME:

XXX. DSCR $XXX (from XXX)/XXX

ASSETS:

Borrower has $XXX in verified assets, and was required to bring $XXX to closing.; XXX months reserves required per guidelines (XXX); total reserves verified XXX months

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80081111980

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned her primary residence for XXX years XXX month.

XXX: LTV below guideline requirements

- XXX Comments: XXX% LTV is XXX% below the maximum allowed LTV of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX is XXX points higher than the minimum required score of XXX.

Investor cash flow:

Market rent $XXX/month using comparable rent schedule/PITI $XXX DSCR.

Assets:

Borrower received cash out of $XXX months of PITI reserves; XXX months reserves required by guidelines.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80081111195

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd that is >XXX% of XXX

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: Verbal Verification of Employment for XXX not provided. Have XXX copies of Accurate XXX.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Missing verification of PITI for XXX. Have only Credit Report listing mortgage with XXX however, unknown if loan is XXX.

- Client/Seller Response Comments: XXX- Lender provided the tax cert for the primary residence (XXX) however supplied the HOI for the subject property (XXX). Exception remains.XXX- Duplicate documents; the bottom of page XXX shows the described location of XXX

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% below guideline requirements XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post close reserves $XXX - XXX months after deducting balances of XXX XXX XXX day Accts ($XXX) $XXX. XXX months required ($XXX) total reserves required. Surplus $XXX

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% below guideline requirement XXX%

Income -

Borrower is XXX% owner of XXX and XXX with Co-Bwr. Used officer compensation only for both borrowers from XXX. Used XXX income for both borrowers from XXX. Borrower 1 - XXX month average $XXX; Borrower 2 - XXX month average $XXX.

XXX XXX schedule E. Used XXX only since is a negative number. Total loss $XXX.

Total qualifying income Borrower 1:XXX

Total qualifying income Borrower 2: XXX.

Assets -

Post close reserves $XXX months after deducting balances of XXX day Accts (XXX) $XXX, XXX months required (XXX) total reserves required. Surplus $XXX

ATR/QM: Not Applicable

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

Business Tax Return - XXX months;

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80081111637

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Credit/Mtg History: Length of mortgage/rental history in file does not meet guideline requirement

- Initial XXX Comments: XXX guidelines require a XXX month housing history.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied

(No Data)

XXX: Significant time at current residence

- XXX Comments: XXX years at current residence per application.

XXX: LTV below guideline requirements

- XXX Comments: XXX%. Max allowed is XXX%.

Product: XXX rate/term

Income:

B1: Base DSCR .XXX% (XXX).

Assets/Reserves: Verified post close assets of XXX months PITI reserves. Minimum required is XXX months.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111950

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Missing List of homeowners counseling organizations

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: Income/Employment: Verbal verification of employment missing

- Initial XXX Comments: Please provide for B2:Verbal Verification of Employment (XXX) completed within XXX (XXX) days of closing or at any point, post closing

XXX: Insurance: Insufficient Insurance Amount to Cover Loan Balance

- Initial XXX Comments: Insufficient Insurance Amount to Cover Loan Balance of $XXX. Only have XXX in amount of $XXX other structure = XXX.Provide proof of insurance with adequate coverage amount

- Client/Seller Response Comments: XXX - Lender provided evidence. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraisal of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: Terms/Guidelines: Loan documents do not meet guideline requirements

- Initial XXX Comments: Missing lox from borrowers acknowledging low appraised value.

- Client/Seller Response Comments: XXX Lender provided approved exception for missing lox acknowledging low appraisal vs purchase price.

- XXX Conclusion Comments: XXX After further review by XXX exception downgraded to non-material. Borrower has residual income of $XXX monthly and low DTI% of XXX. XXX final grade XXX.

- Related Compensating Factors:

- Significant time in profession - Co-Borrower in profession XXX years.

- LTV below guideline requirements - LTV of XXX% below guideline of XXX%.

- Credit score exceeds guidelines - Credit score of XXX above guideline

XXX: Significant time in profession

- XXX Comments: Co-Borrower in profession XXX years.

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% below guideline of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX above guideline

Income: Borrower is Self-Employed, income derived using XXX months Business Bank Statements, ($Gross Deposits $XXX average monthly income

Per cpa letter, borrower's expenses is no more than XXX% of gross revenue.

Income supported by Bank Statements and CPA letter.

Income: Borrower is paid Weekly, income derived using YTD XXX paystub (XXX) monthly base pay. Income supported by paystubs and W-2s.

Assets-

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

Paystub - XXX months;

W2 - XXX months

(No Data)

80081111207

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX [Last CD], Other Costs section is not properly formatted? Property tax does not contain months.Please correct With LOE/PCCD.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary Valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Desk review provided supports appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years XXX months at current residence.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds guidelines XXX.

XXX: LTV below guideline requirements

- XXX Comments: LTV XXX% below guideline requirements XXX%

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX - XXX months reserves. XXX months reserves required ($XXX) Surplus $XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% below guideline requirement XXX%

Cash Out Refinance primary residence - Detached XXX

Income -

XXX months XXX bank statements $XXX/month. CPA listed no greater than XXX% expenses. Have slight DTI discrepancies due to loan being submitted with higher income. Variance is less than XXX%

Assets -

Post Close Reserves $XXX months reserves. XXX months reserves required ($XXX) Surplus $XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111280

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Acknowledgement that borrowers received XXX list is in file but the list itself is missing.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV is XXX%, guideline maximum is XXX%

XXX: Credit score exceeds guidelines

- XXX Comments: Borrowers credit score is XXX. Guideline minimum is XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX/XXX%. Guideline maximum is XXX/XXX%.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Current mortgage (XXX) reflects no delinquency over XXX months. Guideline is XXX over XXX months.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets/Reserves: Verified post close assets of $ XXX or XXX PITI reserves. XXX months PITI reserves required for the subject property ( $ XXX) total reserves required.

Income: borrower is self -employed. Income is derived using XXX month personal asset statement. (XXX per month. Note: discrepancy between calculated income and lender income is due to: lender did not deduct large deposit of $ XXX dated XXX nor surcharge XXX of $XXX dated XXX.

Assets/Reserves: Verified post close assets of $XXX PITI reserves. XXX months PITI reserves required for the subject property ( XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111591

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

AVM

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: B1's credit score of XXX, exceeds the minimum credit score required of XXX, per guidelines.

XXX: LTV below guideline requirements

- XXX Comments: B1's LTV of XXX% is below the maximum allowable LTV of XXX%, per guidelines.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: B1, had verified assets in the amount of $XXX and Post Closed reserves in the amount of $XXX; (PITIA $XXX).

B1, is Self Employed and income was calculated using a (XXX) month Personal Bank statement review. B1’s total deposits were calculated from XXX thru XXX totaling XXX – excluded deposits of $XXX Monthly. B1’s income was also supported by a , VOE, and Proof of Business existence.

B2’s – income wasn’t used per the Final 1008.

Per the Final CD dated XXX, B1, received cash back in the amount of $XXX. B1, had verified assets in the amount of $XXX and Post Closed reserves in the amount of $XXX; (PITIA XXX).

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111295

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: XXX - Assumption selection on the CD does not match the clause in the mortgage.

XXX: XXX Consumer Protection: XXX - XXX Disclosure after XXX days from application

- Initial XXX Comments: XXX Disclosure dated XXX lender application dated XXX

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: homeowners counseling organizations provided to borrower on XXX, however missing list

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary Valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender Provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: XXX years at current job

XXX: Significant time at current residence

- XXX Comments: XXX years at current residence

Total income; $XXX, consists of base pay and auto allowance

Biweekly salary of XXX ($XXX)

Auto allowance; used the XXX-weekly auto allowance from the pay stub XXX.

Post close reserves of $XXX, guidelines require XXX. (XXX)

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081111369

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Ability to Repay/Qualified Mortgage: XXX - Loan subject to Ability to Repay/Qualified Mortgage rule; Residual income analysis does not meet client guidelines

- Initial XXX Comments: The residual income worksheet is not executed.

XXX: Credit/Mtg History: Length of mortgage/rental history in file does not meet guideline requirement

- Initial XXX Comments: Missing acceptable rental history. According to guidelines, maximum of XXX over XXX months.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Desk review provided supports appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Borrowers credit score is XXX. Minimum credit score per guideline is XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX%. Maximum guideline is XXX%

XXX: LTV below guideline requirements

- XXX Comments: LTV is XXX%. Maximum LTV per guidelines is XXX%

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITI reserves. XXX months PITI reserves required for the subject property

Income: Borrower is Self-Employed, income derived using XXX months personal bank statements (XXX) monthly pay. Income is supported by bank statements, license and CPA letter.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111261

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Missing

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has been at current residence for XXX years.

INCOME:

Investor Cash Flow Loan. No Income. DSCR= XXX

ASSETS: Borrower has $XXX verified in a XXX exchange. Per CD Borrower was required to bring XXX to closing.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80081111633

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Please provide List of homeowners counseling organizations

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: State Consumer Protection: XXX - No Evidence that XXX was delivered to the borrower

- Initial XXX Comments: Please provide XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Insurance: MissingXXX Document

- Initial XXX Comments: Missing XXXdocumentation

- Client/Seller Response Comments: XXX Lender provided XXX outside of XXX.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years at current residence.

XXX: LTV below guideline requirements

- XXX Comments: LTV at XXX% below guideline requirements of XXX%.

XXX: DTI below guideline requirement

- XXX Comments: Dti max is XXX%, borrower's dti is XXX%

Income: Borrower is a w2 wage earner. XXX monthly

Overtime : XXX

Assets: Cash Reserves XXX; Months PITI Reserves XXX; required XXX months.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081111264

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned previous residence for XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: FICO XXX; minimum XXX per DSCR guidelines

INCOME:

Investor Cash Flow Loan. DSCR XXX

ASSETS:

Borrower has $XXX in a verified XXX exchange. Borrower was required to bring XXX to closing. XXX months reserves verified - XXX months required

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80081111908

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not in file

- Initial XXX Comments: Acknowledgement of Receipt of XXX Homeownership Counseling Organization List dated and eSigned on XXX is present in the file. However, the actual list is missing. Please provide.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender Provided Clear Capital Desk Review, value supporting appraisal Value

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post close reserves of $XXX, guidelines require $XXX. ($ XXX)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years at current job

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years at current residence

XXX month XXX XXX program. Statements verified from XXX.

Total deposits of $XXX-minus excluded deposits of XXX

Post close reserves of XXX, guidelines require XXX.XXX

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111911

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Homeownership Counseling Organization is missing the list of counseling organizations.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied

XXX: XXX Integrated Disclosure: TRID - Error discovered on the Loan Estimate

- Initial XXX Comments: XXX, XXX and XXX formatting, missing state from XXX section. Corrected by CD XXX Exception satisfied

XXX: Credit/Mtg History: Debts/obligations not disclosed/accounted for at origination

- Initial XXX Comments: Provide documentation that XXX student loans of $XXX and $XXX, deferred to XXX have been satisfied.

- Client/Seller Response Comments: XXX. Lender provided 1008, approval summary and exception summary that they are including student loans in monthly debt. Debts added in Eclas, DTI% of XXX is in line with Lender.

- XXX Conclusion Comments: XXX. Exception satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Borrowers credit score is XXX. Minimum credit score required is XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX/XXX%. Maximum DTI per guidelines is XXX/XXX%.

XXX: LTV below guideline requirements

XXX Comments: LTV is XXX%. Maximum LTV per guidelines is XXX%.

XXX: Postive mortgage payment history

- XXX Comments: No mortgage delinquency over XXX months per verification of mortgage. Guideline requires XXXover XXX months.

XXX: Significant time in profession

- XXX Comments: Borrower is in profession for XXX years.

XXX: Verified cash reserves exceed guidelines

- v Comments: Assets/reserves: Verified post close reserves of $ XXX or XXX months PITIA reserves. XXX months PITIA reserves required for the subject property ( $ XXX) total reserves required.

Income: Borrowers are self employed. Income derived using profit and loss statement- gross receipts of XXX- expenses of XXX per month. Note lender used the monthly income of XXX per month. Income is supported by: bank statements and license.

Assets/reserves: Verified post close reserves of XXX months PITIA reserves. XXX months PITIA reserves required for the subject property ( XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111307

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: The List of homeowners counseling organizations not compliant, the ten organizations information is not provided.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD XXX formatting, other costs, XXX missing number of months and payee for taxes.

XXX: Credit/Mtg History: # of Tradelines Does Not Meet Guideline Requirements

- Initial XXX Comments: Per Matrix: Trade lines XXX trade lines reporting for XXX month; or XXX trade lines reporting for XXX months with activity in the past XXX months. Borrower only has one trade line in past XXX months with activity in past XXX months.

XXX: Application: Missing or incomplete documentation related to citizenship/residency

- Initial XXX Comments: Borrower appears to be a XXX per XXX yet indicates a non permanent resident alien on application. Per Business Bank Statements guideline, Non-permanent resident aliens are not eligible for loan program. Please provide updated application with correct residency or provide further documentation for citizenship and residency.

- Client/Seller Response Comments: XXX - Lender provided updated 1003 correcting to XXX.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Cancel Exception. Desk Review not required as lender has provided XXX full appraisals.

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk review which supports appraisal value.

- XXX Conclusion Comments: XXX-Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has been at current residence for XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds guideline of XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below guideline of XXX%.

Income: Borrower is Self-Employed, income derived using XXX months Business Bank Statements, (XXX) monthly pay.

Per P&L XXX months ended XXX

XXX

Income supported by Bank Statements.

Assets/Reserves: Verified post close assets of XXX or XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111912

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not in file

- Initial XXX Comments: Acknowledgement of Receipt of XXX Homeownership Counseling Organizations List is in the file; however, the actual List is missing.

XXX: XXX Integrated Disclosure: TRID - Closing Disclosure; Optional designation missing from optional insurance product

- Initial XXX Comments: Final CD dated XXX, Other Costs, Section H. Other, The portion of the XXX being paid by the borrower is missing the optional designation.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: The Assumption disclosure in the Loan Disclosures section of the Closing Disclosure indicates the loan is not assumable; however, the XXX to the mortgage indicates the loan may be assumed after the fixed rate period expires.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: Income/Employment: Employment is Unsupported by Documentation in File

- Initial XXX Comments: Provide documentation that borrower is XXX% owner of the business.

- Client/Seller Response Comments: XXX Lender provided XXX registration for XXX with borrower as registered agent and authorized signature dated XXX and prior.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed with current business for XXX years XXX months.

XXX: DTI below guideline requirement

- XXX Comments: XXX% DTI is below the maximum allowed DTI of XXX%.

Income:

B1 self-employment income of $XXX/month was supported using a XXX month P&L statement provided in the file.

XXX months business bank statements supported income of $XXX/month using XXX% of average deposits less unallowable deposits and less expenses of XXX% verified by the P&L statement.

Assets:

Borrower has $XXX months of PITI reserves; XXX months PITI reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081111485

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: XXX is present however list of at least XXX counselors was not provided

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender Provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrower have $XXX in verified reserves for XXX, XXX months required per guidelines

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has significant time at current job of XXX years.

INCOME:

XXX MONTHS PROFIT AND LOSS: XXX. Using this amount as it is slightly less than the XXX month average on the bank statements provided. No tax transcripts in file. Business license and CPA letter, with Sec of State provided.

Borrower have $XXX in verified reserves , $XXX required per guidelines.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Lease Agreement - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111514

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX% verse XXX higher priced loan XXX rate of XXX% for a variance of XXX% equaling or exceeding the XXX higher priced loan rate spread trigger of XXX%.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: The assumption selection on the CD does not match the clause in the Deed of Trust dated XXX. Per XXX loan is assumable upon approval after initial fixed period.

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: The List of homeowners counseling organizations not compliant, the ten organizations information is not provided

XXX: LTV/CLTV: LTV Exceeds Guideline Requirement by less than XXX%

- Initial XXX Comments: Loan amount is XXX, qualifying LTV is XXX%, exceeding max by XXX%Per guides: >XXX XXX Lesser of XXX% or LTV per credit score

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower has owned current business for XXX years XXX months

- DTI below guideline requirement - Max DTI is XXX%; Borrower's DTI is XXX%

- Credit score exceeds guidelines - Minimum Credit score per program is XXX; Borrower's Score is XXX

XXX: Income/Employment: Verbal verification of employment missing

- Initial XXX Comments: Per guidelines, please provide the following, may be subject to additional conditions upon review:Borrower must be at least XXX% owner of the business. Ownership percentage must be documented via CPA letter, Operating Agreement, or equivalent. All non-borrowing owners of the business must provide a signed and dated letter acknowledging the transaction and confirming the borrowers access to the account for income-related purposes. Qualifying Income must be multiplied by the ownership

XXX: XXX Integrated Disclosure: TRID - CD: Inconsistency between the amounts disclosed for the Homeowners' Insurance premium in one or more sections of the CD

- Initial XXX Comments: CD: XXX Other Costs, Prepaids Homeowner Insurance Amount for XXX months $XXX does not match Prepaids Homeowner Insurance Number Of Months XXX x Homeowner Insurance Amount Per Month $XXX

- Client/Seller Response Comments: XXX Lender provided Post CDXXX with LOE and e-tracking for delivery. Tested with no issues.

- XXX Conclusion Comments: XXX Exception satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has owned current business for XXX years XXX months

XXX: DTI below guideline requirement

- XXX Comments: Max DTI is XXX%; Borrower's DTI is XXX%

XXX: Credit score exceeds guidelines

- XXX Comments: Minimum Credit score per program is XXX; Borrower's Score is XXX

XXX Months Business Bank Statements

Expenses From XXX P&L $XXX

Expense Factor = XXX%

Income

(Total Deposits) XXX (Expense Ratio)=$XXX

Assets

Reserves sourced:

Months PITI Reserves (Qual Rate) XXX

Cash Reserves $XXX

required: XXX months, met

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - V months;

Personal Bank Statements - XXX months

(No Data)

80081111434

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Arm rider reflects the loan is assumable but the final CD reflects loan is not assumable, value do not match.

XXX: XXX: XXX: Required Affiliate Business Disclosure missing

- Initial XXX Comments: Missing Affiliate Business Disclosure

XXX: Terms/Guidelines: Payment shock does not meet guidelines

- Initial XXX Comments: Payment shock of XXX% does not meet guideline of XXX%. Exception approval in file.

(No Data)

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Verified XXX months reserves. XXX months required.

- Client/Seller Response Comments: XXX- Client required approved exception request as not meeting the required months of reserves.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception is now deemed Non-Material due to back end DTI XXX%, XXX years with employer and median credit score of XXX. XXX final grade XXX.

- Related Compensating Factors:

- Borrower has significant time at current job - XXX years at current job per application.

- Credit score exceeds guidelines - XXX. Minimum required for XXX% LTV is XXX.

XXX: Borrower has significant time at current job

- XXX Comments: XXX years at current job per application.

XXX: Credit score exceeds guidelines

- XXX Comments: XXX. Minimum required for XXX% LTV is XXX.

Product: XXX.

Income:

B1: Base $XXX derived from XXX($XXX months). Lender used $XXX; using that figure to be conservative.

Assets/Reserves: Verified post close assets of XXX months PITI reserves. Minimum required is XXX months.

XXX

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80081111143

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraisal of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: Credit/Mtg History: Credit report date greater than transaction date

- Initial XXX Comments: Credit report date greater than transaction date

- Client/Seller Response Comments: XXX- Client required approved exception request as not meeting the credit report within the note signing date.

- XXX Conclusion Comments: XXX- Upon further review by XXX, exception is now deemed Non-Material due to XXX years as Owner, XXX months of PITIA reserves and median credit score of XXX. XXX final grade XXX.

- Related Compensating Factors:

- Significant time at current residence - At current residence for XXX years.

- Significant time in profession - Co-Borrower in same profession for XXX years.

- Borrower has significant time at current job - Borrower in current job for XXX years.

XXX: Significant time at current residence

- XXX Comments: At current residence for XXX years.

XXX: Significant time in profession

- XXX Comments: Co-Borrower in same profession for XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower in current job for XXX years.

Income: Borrowers are Self-Employed, income derived using XXX months XXX Bank Statements, (XXX) monthly pay x XXX% profit margin = XXX.

P&L XXX at XXX% profit margin = $XXX.

Income supported by Bank Statements and P&L.

Assets-

Assets/Reserves: Verified post close assets of $XXX or XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Personal Bank Statements - XXX months

(No Data)

80081111884

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file but actual list of XXX organizations is missing.

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section A. field Broker's Fee - missing payee's name.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV is below guide line of XXX% at XXX.

XXX: Good credit history

- XXX Comments: Borrower has a good credit history with a representative fico score of XXX, and no late payments.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves exceeds guidelines with almost XXX months PITIA reserves.

Income- Borrower is self employed doctor. Used alt docs XXX months business bank statements to qualify. File has XXX months bank statements, but borrower qualifies for XXX months based on minimum fico of XXX and max LTV of XXX%.

Reviewed bank statements from XXX. Total deposits of XXX (minimum amount)=XXX.

Used monthly income of $XXX. Income is supported by bank statements, CPA letter, business documents, and verbal VOE.

Assets- total cash reserves of XXX months PITIA reserves, exceeds reserves requirement of XXX months PITIA or XXX.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111821

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Homeownership Counseling Organization is missing the list counseling organizations.

XXX: XXX Integrated Disclosure: TRID - Error discovered on the Loan Estimate

- Initial XXX Comments: LE XXX missing state in NMLS section. Corrected by CD XXX Exception satisfied

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has XXX years at current residence per application.

XXX: Significant time in profession

- XXX Comments: Co-borrower has XXX years in current profession, per application.

Income:

B1: Base XXX derived from XXX Third bank statements (XXX months).

B2: Base $XXX derived from WVOE (XXX months)

Assets/Reserves: Verified post close assets of $XXX or XXX months PITI reserves. Minimum required is XXX months.

XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

Paystub - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081111353

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Start Rate

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file however actual list of XXX organizations is missing.

XXX: Assets: Insufficient Funds to Close

- Initial XXX Comments: ($XXX) short to close.Provide sufficient liquid assets meeting guidelines, documenting borrowers had required assets to close. May be subject to additional conditions upon review

XXX: Income/Employment: Income Documentation Missing

- Initial XXX Comments: Borrower's are XXX owners in XXX business. Per XXX = loss. Provide documentation why this loss was excluded from income calc. May be subject to additional conditions upon review

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Per XXX, loan is assumable under certain condition. Final CD indicates loan is assumable. Values are not matching. Condition pending receiving corrected Post CD with XXX and proof of delivery to borrower.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk review which supports appraisal value.

- XXX Conclusion Comments: XXX-Exception satisfied.

(No Data)

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-borrower has been his job XXX years.

XXX: Significant time in profession

- XXX Comments: Borrower has been in same profession XXX 10 years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets: Borrowers has $XXX. in reserves; XXX months

B1: Per YTD, dated XXX, XXX

B2: Per YTD, dated XXX

Assets: Borrowers has XXX. in reserves; XXX months

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081111215

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

Not Applicable

XXX

(No Data)

Missing

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender Provided Clear Capital Desk Review, value supporting appraisal Value

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Borrower does not have any major mortgage related occurrences during the past XXX years

- XXX Comments: Borrower does not have any major mortgage related occurrences during the past XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: B1, had verified assets in the amount of $XXX and Post Closed reserves in the amount of $XXX; (PITIA $XXX).

XXX: DTI below guideline requirement

- XXX Comments: B1's DTI of XXX% is below the maximum allowable DTI of XXX%, per guidelines.

B1 was qualified using Social Security Income in the amount of $XXX monthly. B1 also receives Retirement/Pension income in the amount of $XXX monthly. B1’s social security and Retirement income was supported by an Award Letters, (XXX) months bank statements and (XXX years) XXX and (1) XXX Tax Return.

Per the Final CD dated XXX, funds in the amount of $XXX were required for closing costs. B1, had verified assets in the amount of XXX and Post Closed reserves in the amount of XXX; (XXX).

Non-QM: Lender documented all ATR UW factors

Award Letter - XXX months;

Personal Bank Statements - XXX months;

Personal Tax Return - XXX months

(No Data)

80081111772

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Missing List of homeowners counseling organizations

XXX: XXX Integrated Disclosure: XXX - Closing Disclosure; Optional designation missing from optional insurance product

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: At least XXX section contains formatting that does not comply with the Regulation

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has own his current business for XXX Years and XXX Months

XXX: DTI below guideline requirement

- XXX Comments: Max DTI is XXX%; Borrower DTI is XXX%

XXX: Credit score exceeds guidelines

- XXX Comments: Minimum Credit Score is XXX; Borrower Credit Score is XXX

XXX: LTV below guideline requirements

- XXX Comments: Max LTV is XXX%; Borrower's LTV is XXX

Income

Bor XXX

Total Deposit $XXX-(Excluded) $XXX

Bor XXX

Not Employed

Assets

XXX Verified; XXX Funds Required; XXX Short Funds to close.

***Adequate assets, actual funds to close $XXX plus additional XXX months reserves @ XXX

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80081111488

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of counseling organizations not included with XXX disclosure.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Review, value supporting appraisal valuation.

- XXX Conclusion Comments: XXX- Exception Satisfied.

- Related Compensating Factors:

- Borrower has significant time at current job - Borrower has been at current job for XXX years.

- Postive mortgage payment history - Borrower has maintained a lifetime XXX mortgage payment history.

XXX: Right of Rescission: XXX - Disbursement date is on/before disclosed "XXX" date

- Initial XXX Comments: "Midnight of" date is XXX. Disbursement date is XXX.

- Client/Seller Response Comments: XXX - New exception. Lender reopened rescission period. New "midnight of" date is 0XXX. Please provide corrected PC CD with updated disbursement dateXXX: Lender questioned how can the disbursement date be changed on a loan that has already closed and funds disbursed? After review from the Compliance team, the exception can be satisfied.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Right of Rescission: XXX - Expiration date on form prior to end of rescission period

- Initial XXX Comments: ROR/RTC expiration expires on XXX and was sign on XXX.

- Client/Seller Response Comments: XXX - Borrower reopened rescission period. New ROR issued, exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been at current job for XXX years.

XXX: Postive mortgage payment history

- XXX Comments: Borrower has maintained a lifetime XXX mortgage payment history.

Loan reviewed to Portfolio Select XXX year Fixed Guidelines (XXX months XXX Bank Statements). Final CD executed XXX Appraisal Review required

QM Status - Non-QM

**Income

-b1 - S/E - income verified with XXX months business bank statements -- Gross receipt of $XXX - XXX% expense ratio/XXX = $XXX

Income $XXX Lender verified $XXX

**Assets

Verified assets $XXX -- used cash-out proceeds of $XXX towards reserves (acceptable per product guidelines)

**Residual Income

XXX household member - $XXX; actual residual income $XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081111576

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

- Client/Seller Response Comments: Acknowledgement does not over XXX the mortgage

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX Lender Provided Clear Capital Desk Review, value supporting appraisal Value

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Borrower's credit score is XXX. Minimum credit score per guidelines is XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX/44XXX07. Maximum DTI is XXX/XXX%.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Rental payment history reflects XXX over XXX months. Guideline maximum is XXX over XXX months.

XXX: Significant time in profession

- XXX Comments: Borrower is in profession for XXX years.

Income: borrower is self-employed. Income derived using XXX months XXX bank statement with a XXX% expense factor = XXX monthly income

Assets/reserves : verified post close assets of $XXX months PITIA reserves. XXX months PITIA reserves required for the subject property ( $XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081211118

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: 2XXX Exception Satisfied.

XXX: Income/Employment: Employment verification does not meet guidelines

- Initial XXX Comments: Borrower must be at least XXX% owner of the business. Ownership percentage must be documented via XXX letter, Operating Agreement, or equivalentPlease provide above, may be subject to additional conditions upon review .

- Client/Seller Response Comments: XXX. Lender provided Articles of Organization and Secretary of State indication borrower as only officer.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months. Minimum required XXX months.

XXX: Good credit history

- XXX Comments: Borrower has only XXX on entire credit report.

Income:

B1: Base $XXX derived from XXX statements (XXX).

Assets/Reserves: Verified post close assets of $XXX or XXX months PITI reserves. Minimum required is XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081211224

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX: Other Costs, Section XXX Prepaids "Property Taxes" missing the number of months

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not in file.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the XXX

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: Qualifying DTI is XXX% exceeds guidelines of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Qualifying credit score is XXX; minimum required per guidelines is XXX.

INCOME-

Borrower is a w2 wage earner paid $XXX annually OR $XXX monthly

ASSETS-

Borrower has cash reserves in the amount of $XXX (Net proceeds from cash out + bank stmt). Minimum required per guidelines is $XXX (XXX months PITI)

QM: Rebuttable Presumption

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80081211792

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: XXX. Minimum required is XXX for cash out with LTV XXX%

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Acknowledgement in file does not over XXX mortgage

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: XXX years and XXX months at current job per application.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified post close assets of $XXX or XXX months PITI reserves. Minimum required is XXX months.

Income: Borrower is Self-Employed, income derived using XXX months XXX Bank Statements, derived from XXX statements ($XXX months) $XXX monthly pay

Assets/Reserves: Verified post close assets of XXX months PITI reserves. Minimum required is XXX months.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80081211197

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: The borrower's qualifying credit score was XXX. Per the Portfolio Select loan product guidelines, the required credit score was XXX for an investment property transaction when the LTV is over XXX%. The subject transaction LTV was XXX%. In addition, the borrower was qualified with XXX months business bank statements which per product guidelines required a XXX qualifying score. The borrower's qualifying credit score of XXX did not meet this requirement.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been at current job for XXX years.

XXX: Postive mortgage payment history

- XXX Comments: Borrower has maintained a XXX mortgage payment history since loan modification performed XXX

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum of XXX% per guidelines.

Loan reviewed to Investor Portfolio Select XXX guidelines. Final CD executed XXX Appraisal Review Required

QM Status – Non-QM

**Income

Bank statement analysis – XXX

XXX XXX XXX XXX XXX XXX

Total Deposits XXX minus total expenses (P/L) $XXX

Qualifying lessor of XXX for P/L – Gross receipts $XXX minus total expenses XXX

Expense ratio is XXX%

Income $XXX Lender verified XXX

**Assets

Verified reserves XXX Adequate for subject property and three additional XXX – reduced qualifying balance by $XXX for funds to close for XXX Way being purchase simultaneously

**Residual Income

XXX household members - $XXX; actual residual income $XXX

**XXX

Primary – XXX – XXX

XXX – XXX

XXX (Acquiring Simultaneous w/subject property) – PITI $XXX

**Misc

Product guidelines (Portfolio Select XXX) a XXX credit score is required for XXX purchase when LTV is over XXX%, in addition to uses XXX months business bank statements, a XXX qualifying credit score is also required. Credit report dated XXX reflected a XXX middle score.

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081211239

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX/XXX%. Guideline maximum is XXX/XXX%.

XXX: Significant time in profession

- XXX Comments: Borrower is in profession for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets/Reserves : verified post close assets of $ XXX or XXX months PITI reserves. XXX months PITI reserves required for the subject property ( $ XXX) total reserves required.

Income- borrower is self employed. Income derived using XXX months business bank statements, P & L ratio $ XXX= net income of $ XXX monthly income. Note: asset income statement is different from lender due to : XXX deposits of $XXX, XXX deposits of $XXX and missing XXX statement. Lender used lower stated income of $ XXX per month per 1008 in file.

Assets/Reserves : verified post close assets of $ XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081211417

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Missing components of non-subject as follows: XXX, Mortgage Statement and HOI; XXX, closing documents, if not Mortgage Statement, Tax Info and HOI; XXX, Mortgage Statement and Tax Information;XXX Mortgage, Tax Information and HOI; XXX, Mortgage Statement, HOI and Tax Information.

- Client/Seller Response Comments: XXX Lender provided XXX, Mortgage Statement and HOI;XXX, if XXX, closing documents, if not Mortgage Statement, Tax Info and HOI; XXX, Mortgage Statement and Tax Information; XXX, Mortgage Statement, HOI and Tax Information.Lender did not provided XXX, Mortgage, Tax Information and HOI/ Exception remains. XXX- Lender responded that PITIA information is on page 2 and 3 of the pdf document uploaded.

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% is below the maximum LTV.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has owned her business for XXX years and XXX months.

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

B1: Per Schedule XXX, XXX, $XXX

Assets: Borrower has $XXX in reserves; XXX months. XXX months reserves required.

ATR/QM: Not Applicable

Business Tax Return - XXX months;

CPA Letter with Income - XXX months;

Lease Agreement - XXX months;

Personal Tax Return - XXX months

(No Data)

80081211954

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not in file

- Initial XXX Comments: XXX list of homeowners counseling organizations was not provided.

- Client/Seller Response Comments: XXX - Lender provided the XXX website however, the list of XXX was not included. Exception remains.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period

- Client/Seller Response Comments: XXX - Lender provided the Acknowledgement that Loan Assumptions Are Not Permitted document. However, this document does not have the proper verbiage to override the XXX. Exception remains.

XXX: Application: Missing or incomplete documentation related to XXX

- Initial XXX Comments: Missing residency document for XXX.

- Client/Seller Response Comments: XXX - Lender provided LOE stating that B2 is a XXX along with corrected Final 1003.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Insurance: Missing XXX Document

- Initial XXX Comments: Missing XXX for subject property.

- Client/Seller Response Comments: XXX - Lender provided the XXX

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX Lender Provided Clear Capital Desk Review, value supporting appraisal Value

- XXX Conclusion Comments: XXX Exception Satisfied

XXX: RESPA: RESPA: Required Affiliate Business Disclosure missing

- Initial XXX Comments: The Affiliated Business disclosure is missing from file. Lender affiliate is referred to on Service Provider list or used for closing services. Provide Affiliated Business Disclosure.

- Client/Seller Response Comments: XXX - Lender provided LOE and Seller ABA. Exception satisfied.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI below guide line requirements at XXX max per guidelines is XXX%

XXX: Good credit history

- XXX Comments: borrower has a good credit history with representative score of XXX, and no late payments.

Income-

Borrower is self employed. Derived income from XXX months XXX bank statements to qualify. Reviewed statements from XXX. total Deposits of $XXX Used as monthly income.

Income supported by bank statements, p and l, business documents, and verbal VOE.

Assets/Reserves- Cash reserves of $ XXX months PITIA reserves ,exceed XXX months or XXX.

As per credit risk summary, there are no lender exceptions.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081211492

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX,value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Cash reserves of XXX; XXX months reserves required (XXX); total reserves verified XXX months

Income : DSCR Rental income is supported by the market analysis . Rent is XXX

Assets: XXX , access letter in file. XXX as of XXX; cash to borrower at closing $XXX; XXX months reserves required (XXX); total reserves verified XXX months

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80081211548

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

Yes

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

AVM

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not in file

- Initial XXX Comments: List of Homeowners Counseling organizations was not provided.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period..

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Review, value supporting appraisal valuation.

- XXX Conclusion Comments: XXX- Exception Satisfied.

XXX: XXX Integrated Disclosure: TRID - LE delivered only XXX but there is no prior XXX consent in file; by regulation, LE must be treated as not delivered

- Initial XXX Comments: XXX not provided. Provide missing document.

- Client/Seller Response Comments: XXX: Lender provided the borrower's XXX

- XXX Conclusion Comments: XXX: Exception satisfied

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score XXX. Min XXX.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower self-employed XXX years XXX months.

Income:

XXX month XXX. XXX.

Expense Ratio per P&L XXX%

Assets:

Cash-out for reserves $XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081211590

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file however actual list of XXX organizations is missing

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section E. field Recording - missing amounts for Deed/ Mortgage itemizations

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Per XXX, loan is assumable under certain condition. Final CD indicates loan is not assumable. Values are not matching. Condition pending receiving corrected Post CD with XXX and proof of delivery to borrower.

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: Credit score of XXX is below guideline of XXX. Since both borrower's are self employed the lower middle score is to be used.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has XXX years at current job

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-Borrower has XXX years at current job

INCOME:

XXX-month XXX. Each borrower is a XXX% owner and based on a XXX% profit margin B1 & B2 each earn $XXX per month. See bank statement calculator in file.

ASSETS:

Verified post close assets of $XXX months reserves. Guides require XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090111640

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraisal value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: At current residence for XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds guideline XXX.

XXX: LTV below guideline requirements

- XXX Comments: XXX% ltv below guideline of XXX%.

Loan submitted under the Investor Cash Flow/XXX.

DSCR Calculation: Market Rent $XXX ratio. Loan qualifies under the XXX.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property ($XXX) total reserves required.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80090111690

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-borrower has been on his job XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves of XXX months, exceed the requirement of XXX months, XXX months.

B1: YTD Paystub, dated XXX, bi-weekly $XXX, Lender used $XXX

B1: WVOE, XXX Bonus $XXX Bonus $XXX/Mo, Income not used.

B2: Per WVOE, XXX, lender used $XXX

B2: Per WVOE, Bonus XXX $XXX + Bonus XXX $XXX/Mo , Income not used.

Assets: Borrowers have $XXX in reserves; XXX months.

ATR/QM: Not Applicable

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

Verbal VOE with Income - XXX months;

W2 - XXX months;

Written VOE - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80090111387

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

SIVA

(No Data)

Present

XXX

Present

(No Data)

XXX: Compliance Manual: XXX -Loan secured by investment property, cannot determine if XXX is applicable b/c cannot verify if primary use of funds was personal or business

- Initial XXX Comments: XXX in file states use of funds will be for XXX XXX and XXX. XXX may need to be completed. .

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX.

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Review, value supporting appraisal valuation.

- XXX Conclusion Comments: XXX- Exception Satisfied.

XXX: LTV/CLTV: LTV Exceeds Guideline Requirement by at least XXX%, but less than XXX%

- Initial XXX Comments: Max LTV for XXX Cash-out is XXX%

- Client/Seller Response Comments: XXX Lender provided exception approval for XXX% LTV, XXX% over max.

- XXX Conclusion Comments: XXX After further review by senior underwriter exception downgraded to non-material. Borrower reserves required per guidelines XXX months (XXX) XXX months reserves verified. Borrower has been in current residence for XXX year. XXX final grade XXX.

- Related Compensating Factors:

- Verified cash reserves exceed guidelines - reserves required per guidelines XXX months (XXX) XXX months reserves verified

- Significant time at current residence - Borrower has been at current residence for XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: reserves required per guidelines XXX months (XXX) XXX months reserves verified

XXX: Significant time at current residence

- XXX Comments: Borrower has been at current residence for XXX years

XXX

DSCR = XXX% Rent per XXX $XXX/ PITIA $XXX

Assets

Funds to borrower at closing $XXX; reserves required per guidelines XXX months XXX months reserves verified

ATR/QM: Not Applicable

(No Data)

80090112362

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

AVM

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Post CD XXX section A. field Broker's Fee - missing payee's name. Provide CD with correct information within XXX days of consummation.

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file however actual list of XXX organizations is missing

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Compliance Manual: Missing disclosure

- Initial XXX Comments: Missing final CD in file which was presented to borrower on consummation day of XXX

- Client/Seller Response Comments: XXX: Lender provided PCCD datedXXX which is already in file. However, disclosure tracking in file reflects CD XXX was provided to borrower to be signed at closing on XXX. Exception remains. XXX: Lender provided CD dated XXX

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower at current job for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below guideline requirement of XXX%.

Income: Borrower is salaried. Per WVOE as of XXX, ytd base pay $XXX plus overtime income of XXX, based on XXX and XXX YTD / XXX months. Income supported by paystubs, W2s, XXX, WVOE and transcripts.

Assets: Post Closing Assets $XXX or XXX months piti.XXX months piti (XXX)

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)

80090112260

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file however actual list of XXX organizations is missing

XXX: XXX Integrated Disclosure: TRID - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section E. field Recording - missing amounts for Deed/ Mortgage itemization

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX with correction, letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Credit/Mtg History: Missing support docs for VOM/VOR (e.g. cancelled checks)

- Initial XXX Comments: Missing the mortgage history on the 1003. Please provide mortgage documentation that corresponds with the credit report.

- Client/Seller Response Comments:XXX - Lender provided the fully executed final XXX for the departing residence. Payoffs were also provided of which matches the final 1003.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: B1's credit score of XXX, exceeds the minimum credit score of XXX, required per guidelines.

XXX: Significant time at current residence

- XXX Comments: Borrowers have lived at their current residence for (XXX) years.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Borrowers Mortgage payment history reflects XXX within the last (XXX) months.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: B1 had verified assets in the amount of $XXX and Post Closed reserves in the amount of $XXX.

B1 was qualified using Asset Qualification Loan Amount - $XXX

Down Payment - $XXX

Closing Costs and Prepaid- XXX

XXX (XXX) of monthly debt expenditures - $XXX consumer debt + PITIA $XXX HOI + $XXX Tax = $XXX = $XXX

XXX (XXX) months PITIA Reserves - $ XXX

Minimum asset requirements of $XXX met.

B1, had total liquid assets of XXX less down payment and closing costs $XXX, post-closed reserves of $XXX

The Final CD dated XXX, funds in the amount of XXX were required for closing. B1 had verified assets in the amount of $XXX and Post Closed reserves in the amount of $XXX.

Non-QM: Lender documented all ATR UW factors

(No Data)

80090112439

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file however actual list of XXX organizations is missing

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Note allows for assumption once loan become adjustable. Final CD Loan Disclosure states loan is not assumable. Post Close CD Required

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Provide missing secondary XXX party valuation for securitization supporting the value on Origination Appraisal.

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Income/Employment: Missing Profit and Loss statement for one or more Self Employed borrowers

- Initial XXX Comments: File is missing a XXX Party tax preparer or CPA prepared Business Expense Statement or borrower prepared Profit and Loss Statements, which is less than XXX-days old at the time closing.

- Client/Seller Response Comments: XXX - Lender provided the updated guidelines stating that if Business expense use of XXX%, nothing else is required.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: LTV/CLTV: LTV Exception XXX% or Less

- Initial XXX Comments: Subject loan LTV of XXX% exceeds the maximum allowable LTV of XXX% due to cash-out loan with cash in hand over $XXX requiring a XXX% LTV reduction.

- Client/Seller Response Comments: XXX- Client provided approved exception request as not meeting the LTV allowed..

- XXX Conclusion Comments: XXX- XXX final grade XXX.

- Related Compensating Factors:

- Significant time at current residence - Borrowers have owned the subject property for XXX years.

- Borrower has significant time at current job - Borrower has been self-employed with current business for XXX years XXX months and co-borrower for XXX years XXX months.

- DTI below guideline requirement - XXX/XXX% DTI ratios are below the maximum allowed DTI ratios of XXX%.

XXX: Significant time at current residence

- XXX Comments: Borrowers have owned the subject property for XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed with current business for XXX years XXX months and co-borrower for XXX years XXX months.

XXX: LTV below guideline requirements

- XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

XXX: DTI below guideline requirement

- XXX Comments: XXX/XXX% DTI ratios are below the maximum allowed DTI ratios of XXX/XXX%.

Income:

B1/B2 self-employment income of $XXX/month was supported using XXX% of averaged deposits from XXX months XXX bank statements less unallowable deposits and less XXX% expense factor per lender's bank statement worksheet. Lender used $XXX/month for B1 to qualify.

Assets:

Borrowers received cash-out proceeds of $XXX or XXX months of PITIA to be used for reserves; XXX months PITIA reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090212633

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: The List of homeowners counseling organizations is not compliant, the XXX required organizations details is not disclosed.

XXX: XXX Integrated Disclosure: XXX - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX missing fees paid by seller. Per Seller's CD, several fees including in C. section : Settlement fee, courier fee etc. and H. section : commission, XXX, XXX etc. are paid by seller however are missing on final CD XXX. Condition pending receiving corrected Post CD with LOX and proof of delivery to borrower.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Income/Employment: Verbal verification of employment missing

- Initial XXX Comments: Provide a VVOE within XXX days of closing.

- Client/Seller Response Comments: XXX- Lender provided VVOE dated XXX of which is within XXX days of the Note date.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Borrower has XXX months of verified reserves which is short of the XXX months required per guidelines. Exception in file.

- XXX Conclusion Comments: XXX After further review by XXX exception downgraded to non-material. Borrower has DTI of XXX% is below the guideline maximum of XXX%. Borrower has been in the same profession for XXX years. XXX final grade XXX.

- Related Compensating Factors:

- Significant time in profession - Borrower has been in the same profession for XXX years.

- DTI below guideline requirement - DTI of XXX% is below the guideline maximum of XXX%.

- Credit score exceeds guidelines - Credit score of XXX exceeds guideline maximum of XXX.

XXX: Significant time in profession

- XXX Comments: Borrower has been in the same profession for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below the guideline maximum of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds guideline maximum of XXX.

INCOME: XXX month XXX Bank Statements. Monthly average is XXX.

ASSETS: Borrower has $XXX in verified reserves and was required to bring $XXX to closing, leaving $XXX months reserves, which is short of the XXX months required by guidelines. Exception in file.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80090212561

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Significant time at current residence

- XXX Comments: Co-Borrower has XXX years at current residence

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX - XXX months reserves required ($XXX) Remaining $XXX.

XXX: Credit score exceeds guidelines

- XXX Comments: Borrower Credit Score XXX exceeds guidelines XXX.

Loan Investor Cash Flow - No Income/Employment verified. DSCR XXX

Assets -

Post Close Reserves $XXX months reserves required (XXX) Remaining $XXX.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80090212496

XXX

(No Data)

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

AVM

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: XXX: Title Does Not Agree With Mortgage

- Initial XXX Comments: XXX borrowers are present on the mortgage, however, title only shows XXX borrower.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned his home XXX years.

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX exceeds the minimum of XXX for DSCR, XXX points.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves of $XXX exceed the requirement of $XXX by $XXX /XXX months.

DSCR: XXX

Assets: Verified post close cash reserves of XXX months. XXX months PITI reserves are required, XXX.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80090212637

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant due to only borrower's acknowledgment in file but actual list of XXX organizations missing.

XXXXXX: XXX Home Equity: XXX Equity - Total fees greater than the allowable cap

- Initial XXX Comments: Total fees greater than the allowable cap

- Client/Seller Response Comments: XXX: Lender provided the undiscounted rate.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Income/Employment: Verbal verification of employment completed outside the stated requirements and/or after closing/funding

- Initial XXX Comments: Provide verification of existance of Business within XXX days of closing.

- Client/Seller Response Comments: XXX - Lender provided a VVOE after the note signing date however < XXX days from it.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Income/Employment: Income verification does not meet guidelines

- Initial XXX Comments: Provide XXX Tax Returns. XXX years is required per XXX. Have XXX in file. Income calculation to be recalculated when received. However from XXX Transcripts it appears income may be lower than what was used

- Client/Seller Response Comments: XXX - Lender provided the XXX Schedule Worksheets however the 1040s were not sent. Review new calculations using XXX months average as income for year XXX lower, only to use XXX months average if current year in decline of which was not the case. Exception remains.XXX - Lender (XXX) wanted clarification on loan.XXX- Lender provided the XXX 1040s of which is income as has been calculated and is within tolerance of the guidelines.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Borrowers Mortgage payment history reflects XXX within the last (XXX) months, which exceeds guidelines.

XXX: LTV below guideline requirements

- XXX Comments: Borrowers LTV of XXX%, is below the maximum allowable LTV of XXX%, per guidelines.

XXX: Significant time at current residence

- XXX Comments: Borrowers have lived at their current residence for (XXX) years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: B1 had verified assets in the amount of $XXX; ($XXX).

B1, is Self Employed, income calculated using XXX year's average Schedule C income of XXX monthly base pay. B1’s income was also supported by a copy of the Business License, Profit & Loss Statement dated XXX.

The Final CD dated XXX, B1, received cash back in the amount of $XXX. B1 had verified assets in the amount of $XXX.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

(No Data)

80090212509

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file however actual list of XXX organizations is missing

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX and Post CD XXX, section A. field Broker's fee - missing payee's name

XXX: Repayment Ability: File does not contain a repayment ability worksheet

- Initial XXX Comments: File does not contain a repayment ability worksheet

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Legal Documents: Missing Legal Document(s)

- Initial XXX Comments: Missing initial signed 1003

- Client/Seller Response Comments: XXX - Lender provided the fully executed initial 1003.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below guideline of XXX%.

XXX: Significant time in profession

- XXX Comments: C0-borrower has XXX years in same profession.

Income: Borrower is Self-Employed, income derived using XXX month average of XXX and XXX XXX, schedule C.

XXX Schedule C net income $XXX plus use of home $XXX

plus XXX schedule C net income $XXX plus use of home $XXX

Total 4XXX average monthly income.

Income supported by XXX, Tax Transcripts.

Income: Borrower is paid Weekly, income derived using YTD XXX paystub (XXX) monthly base pay. Income supported by paystubs, W-2s, XXX and Tax Transcripts

Assets-

Assets/Reserves: Verified post close assets of $XXX months PITI reserves.

XXX months PITI Income: (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80090212324

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Not Applicable

XXX

(No Data)

XXX

(No Data)

Not Applicable

XXX

(No Data)

Not Applicable

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrowers at current residence for XXX years.

XXX: Co-Borrower has significant time at current job

- XXX Comments: Co-borrower at current job for XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower at current job for XXX years.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below guideline of XXX%.

Income: This is a XXX.

Both Borrowers are XXX. Per a Compilation Statement prepared by XXX, XXX,

borrowers net income as of XXX is $XXX plus XXX $XXX plus XXX $XXX each borrower.

Assets:

Post closing assets $XXX or XXX months PITIa. XXX months pitia (XXX) are required reserves.

ATR/QM: Not Applicable

Written VOE - XXX months

(No Data)

80090212870

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: Borrower's Interest: File does not contain a tangible net benefit worksheet

- Initial XXX Comments: Missing tangible net benefit worksheet.

XXX: TILA/RESPA Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: The Broker fee payee is missing on the Loan Costs section A.

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of Homeowners Counseling Organizations proof of receipt document was in the file however the actual list is not contained in the file this is not compliant. Please provide list of the XXX.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: TILA/RESPA Integrated Disclosure: TRID - CD: XXX percent tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within XXX days of consummation.

- Initial XXX Comments: XXX percent tolerance fee increase between CD XXX and CD XXX by $XXX. The recording- mortgage fee increased without valid documentation.

- Client/Seller Response Comments: XXX: Lender provided the COC for CD XXX.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned his home XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has owned his business for XXX years.

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves of $XXX exceed the requirement of $XXX by $XXX /XXX months.

B1: Per XXX months bank statements, deposits $XXX

Assets: Verified post close cash reserves of $XXX months. Four months are required, XXX. Verified cash reserves of $XXX exceed the requirement of XXX months.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090212465

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period.

- Client/Seller Response Comments: XXX: Lender provided the Acknowledgement that Loan Assumptions Are Not Permitted document. However, this document does not have the proper verbiage to override the XXX. Exception remains.

XXX: TILA/RESPA Integrated Disclosure: XXX: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX [Last CD], Section: Other Costs is improperly formatted due to E. Taxes and Other Government fees - Recording-Mortgage fee not itemized and F. Prepaids - # of months missing from Property taxes.

- Client/Seller Response Comments: XXX Lender provided corrected Post CD with LOX and proof of delivery. Tested with no issue. Exception satisfied

- XXX Conclusion Comments: XXX Exception satisfied

XXX: RESPA: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant due to only borrower's acknowledgment in file but actual list of XXX organizations missing.

- Client/Seller Response Comments: XXX: Lender provided a list of XXX agencies and a letter of explanation to borrower.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: Ltv is XXX with a max ltv of XXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% is below maximum allowed per guidelines of XXX%

Purchase primary residence - portfolio select

Income: Wage income XXX monthly base pay.

Sch C income : XXX. Borrower had an increase from XXX to XXX. Per XXX he worked with one company as an XXX in XXX but in XXX was working with several businesses.

Assets:

XXX months reserves required borrower has XXX post close reserves or XXX months.

Note: Lender exception in file stating reserve requirement not met as XXX months are required. Reviewed XXX Guidelines dated XXX and XXX dated XXX and both show XXX months required.

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80090212135

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: Please provide compliant List of homeowners counseling organizations .

XXX: Federal Consumer Protection: XXX License verification found Loan Originator Name does not match ID but can identify that the XXX is the same

- Initial XXX Comments: XXX database show middle name for originator, note/mortgage does not.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX/XXX%. Maximum DTI is XXX/XXX%.

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Rental history reflects XXX months with no delinquency. Maximum of XXX over XXX months.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets reserves: verified post close assets of $ XXX or XXX months PITIA reserves. XXX months PITIA reserves required for the subject property ( $XXX) total reserves required.

Income: borrower is self employed. Income derived using XXX months personal bank statements. ( XXX) monthly income. Income supported by bank statements, license, verbal and written VOE.

Note: Reviewer used bank statement in file dated-XXX. Lender used XXX.

Assets reserves: verified post close assets of $XXX months PITIA reserves. XXX months PITIA reserves required for the subject property ( $XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090212586

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

AVM

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of Homeowners counseling disclosure is present however list of XXX providers not provided

XXX: Income/Employment: Missing Profit and Loss statement for one or more Self Employed borrowers

- Initial XXX Comments: File is missing a XXX Party tax preparer or XXX prepared Business Expense Statement or borrower prepared Profit and Loss Statements, which is less than XXX-days old at the time closing.

- Client/Seller Response Comments: XXX - Lender is referring to Guidelines XXX Expense to Income Ratio of which is not from the XXX Guidelines dated XXX, page 82 Expense to Income Ratio is XXX of which does not have this verbiage (if business ratio of XXX%, no additional documentation is needed). Exception remains.XXX - Lender provided updated guidelines removing the requirement of the P & L Statement when XXX% Business expense is being used.

- XXX Conclusion Comments: XXX - Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX datedXXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: TRID - Curable Issue #XXX related to the Closing Disclosure in file

- Initial XXX Comments: CD Dated XXX - Summaries Transaction - Section K. Due from Borrower at Closing section contains an error. The adjustments for Items Paid by Seller in Advance field reflects the County taxes paid from 3XXX thru XXX iao $XXX. Start date should reflect XXX, not XXX

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX with correction, letter of explanation and proof of delivery.

- XXX Conclusion Comments: XXX Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed with current business for XXX years XXX months.

XXX: Significant time at current residence

- XXX Comments: Borrower has lived in the subject property for XXX years XXX months.

XXX: LTV below guideline requirements

- XXX Comments: XXX% LTV is XXX% below the maximum allowed LTV of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX is XXX points above the minimum required score XXX.

XXX: DTI below guideline requirement

- XXX Comments: XXX/XXX% DTI ratios are below the maximum allowed DTI ratios of XXX/XXX%.

Income:

B1 self-employment income of $XXX/month was supported using XXX% of average deposits from XXX months XXX bank statements less unallowable deposits and less XXX% expense factor per lender's bank statement worksheet. Lender used $XXX/month to qualify due to not deducting unallowable deposits.

Assets:

Borrower has $XXX months of PITIA reserves; XXX months PITIA reserves required by guidelines.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090212231

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

(No Data)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant - borrower's acknowledgment in file however actual list of XXX organizations is missing

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Borrower has XXX months reserves

XXX: DTI below guideline requirement

- XXX Comments: Dti max is XXX% per guideline, borrower's dt is XXX %

Income :

Paystub XXX

Reserves XXX months required , cashout maybe used to meet me reserve requirement. Borrower has XXX available for reserves. Borrower has XXX months available

Non-QM: Lender documented all ATR UW factors

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80090212559

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: The List of homeowners counseling organizations is not compliant, the XXX required organizations details is not disclosed.

- Client/Seller Response Comments: XXX Lender provided full list of XXX organizations. Exception satisfied

- XXX Conclusion Comments: XXX Exception satisfied

XXX: XXX Integrated Disclosure: TRID - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX section F. Prepaid, field Property Taxes paid by seller - missing number of XXX in ( ) Final CD XXX section E. field Recording - missing amounts fro Deed/ Mortgage itemization.

- Client/Seller Response Comments: XXX Lender provided corrected Post CD XXX wit LOX and proof of delivery. Tested with no issue. Exception satisfied

- XXX Conclusion Comments: XXX Exception satisfied

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX below guideline of XXX%

XXX: LTV below guideline requirements

- XXX Comments: LTV of XXX% below guideline of XXX%.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets/Reserves: Verified post close assets of $XXX1 or XXX months PITI reserves. XXX months PITI reserves required for the subject property ($XXX) total reserves required.

Income:

Borrower is Self-Employed, income derived using XXX months Business Bank Statements, (XXX) monthly pay.

Per P&L XXX

Total Income $XXX

XXX average monthly qualifying income

Income supported by XXX Bank Statements, P&L and WVOE.

Assets/Reserves: Verified post close assets of $XXX months PITI reserves. XXX months PITI reserves required for the subject property (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090312198

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CDs dated XXX and XXX section Loan Costs field A. Broker's fee is missing payee's name. Field B. and H. are missing the Payee information for Fee's in sections Loan Costs and Other Costs on initial CD dated XXX. Final CD dated XXX field H. is missing payee information for Fee's disclosed in section Other Costs. Provide CD with correct information within XXX days of consummation.

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: The List of homeowners counseling organizations is not compliant, the XXX required organizations details is not disclosed.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Consumer credit history exceeds guidelines

- XXX Comments: B1's consumer credit history reflects XXX, within the last (XXX) months, which exceeds guidelines.

XXX: Borrower has significant time at current job

- XXX Comments: B1, has been Self-Employed for (XXX) years.

XXX: LTV below guideline requirements

- XXX Comments: B1's LTV of XXX% is below the maximum allowable LTV of XXX%, per guidelines.

B1, is Self Employed and income was calculated using a (XXX) month Personal Bank statement review. B1’s total deposits were calculated from XXX thru XXX totaled $XXX –Excluded deposits of $XXX monthly. B1’s income was also supported by a copy of the XXX, CPA Letter.

Final CD dated XXX, funds in the amount of $XXX were required for closing costs. Borrower had verified assets in the amount of $XXX; and Post-Closed reserves of $XXX for XXX months; (XXX).

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090312183

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

XXX (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrower has owned her primary residence for XXX years.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been self-employed with current business for XXX years.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX is XXX points above the minimum required score of XXX.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITI reserves; XXX months required.

XXX: DTI below guideline requirement

- XXX Comments: XXX/XXX% DTI ratios are below the maximum allowed DTI ratios of XXX/XXX%.

Income: B1 self-employment income of $XXX/month was supported using average deposits from XXX months XXX bank statements less standard expense ratio of XXX%.

No rental income was used to qualify.

Assets:

Borrower has $XXX months of PITI reserves; XXX months PITI reserves required by guidelines.

ATR/QM: Not Applicable

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090312791

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest if amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Borrower has a mortgage history XXX for XXX months.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: $XXX in reserves XXX months PITI

XXX Loan. XXX

XXX Borrowers, closing loan in an XXX. LLC docs are in file. Credit usage calculator was based on B1.

Borrower have $XXX in verified assets and were required to bring $XXX to closing, leaving $XXX in reserves.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80090312912

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

Subject to Completion(cert in file)

XXX

AVM

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX - Desk review supporting appraisal value provided.

- XXX Conclusion Comments: XXX - Exception satisfied.

(No Data)

XXX: Postive mortgage payment history

- XXX Comments: Mortgage reflects no delinquency over XXX months. Guideline isXXX over XXX months.

XXX: Credit score exceeds guidelines

- XXX Comments: Borrowers credit score is XXX. Minimum credit score per guideline is XXX.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Assets/reserves: verified post close assets of $ XXX or XXX months PITI reserves. XXX months PITI reserves required for the subject property ( $ XXX) total reserves required.

DSCR of XXX (rental income of $ XXX per appraisal / PITI of $ XXX)

Assets/reserves: verified post close assets of $ XXX months PITI reserves. XXX months PITI reserves required for the subject property XXX total reserves required.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80090312300

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CDs dated XXX and XXX section Loan Costs field A. Broker's fee is missing payee's name. Field XXX, XXX, XXX, and F are missing the Payee information for Fee's in sections Loan Costs and Other Costs on initial CD dated XXX. Final CD dated XXX field C. is missing payee information for (Notary Fee) in section Loan Costs.

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX with the Notary fee corrected. However, the Broker fee is still missing the payee name. Exception remains.

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX% verse XXX higher priced loan XXX rate of XXX% for a variance of XXX% exceeding the XXX higher priced loan rate spread trigger of XXX%.

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: The List of homeowners counseling organizations is not compliant, the XXX required organizations details is not disclosed.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is below guide line requirement at XXX max per guidelines is XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been at current job for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves exceed guide lines with XXX months PITIA.

Income-

Borrower is self employed, used alt docs, XXX months business bank statements to qualify. Reviewed bank statements from XXX. Total deposits of $XXX%expense ratio= XXX. Used as monthly income.

Income supported by bank statements, business documents, CPA letter, and verbal VOE.

Assets/Reserves- Used cash out proceeds $XXX months PITIA months reserves, exceed guide line of XXX months or $XXX.

As per credit risk summary, there are no lender exceptions.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090312816

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Full Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Legal Documents: Missing pre-payment penalty addendum

- Initial XXX Comments: Missing pre-payment penalty addendum.

- Client/Seller Response Comments: XXX Lender provided XXX Addendum to Note and XXX Rider. Exception satisfied

- XXX Conclusion Comments: XXX Exception satisfied

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: Borrower's dti is XXX %, max dti is XXX%

XXX: Mortgage payment history exceeds guidelines

- XXX Comments: Borrower has perfect payment history over XXX months reviewed

XXX

Income : b1 no income used to qualify

B2: $XXX monthly supported by paystubs, and w2s

Reserves : $XXX after closing

ATR/QM: Not Applicable

IRS Transcripts – Tax Return(s) - XXX months;

Personal Tax Return - XXX months

IRS Transcripts – Tax Return(s) - XXX months;

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months

(No Data)

80090312762

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

Subject to Completion(cert in file)

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Indexed, Fully Amortized

(No Data)

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: State Rate Spread: XXX Higher-Priced Loan

- Initial XXX Comments: Test XXX is XXX%, XXX rate is XXX% a variance of XXX%. Maximum variance allowed is XXX%.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX.

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: XXX Integrated Disclosure: TRID - Written List of Providers not provided or untimely

- Initial XXX Comments: XXX not in file.

- Client/Seller Response Comments: XXX: Lender provided the Service Provider List.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Documentation: Missing Mortgage

- Initial XXX Comments: Mortgage is missing

- Client/Seller Response Comments: XXX: Lender provided the executed mortgage.

- XXX Conclusion Comments: XXX: Exception satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower with same business XXX years.

INCOME:

XXX months XXX bank cal of $XXX months = XXX monthly

ASSETS:

Verified post-closing funds of $XXX

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80090312777

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

Full Appraisal

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX: XXX - List of homeowners counseling organizations not compliant

- Initial XXX Comments: List of homeowners counseling organizations not compliant due to only borrower's acknowledgment in file but actual list of XXX organizations missing.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: The DTI is XXX% below the maximum allowed.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Reserves are XXX (XXX) months greater than the published guidelines.

XXX: Borrower has significant time at current job

- XXX Comments: The primary wage earner has XXX (XXX) years of their current job.

B1: Borrower is Self-Employed, income calculated to $XXX per month using XXX months XXX Bank Statements to qualify.

Assets:

Borrower has $XXX verified cash reserves; XXX months PITI cash reserves. Reserves required per guidelines $XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090312832

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk Review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Good credit history

- XXX Comments: Good credit history with no late payments

XXX: Postive mortgage payment history

- XXX Comments: Positive mortgage payment history XXX

XXX: Borrower has significant time at current job

- XXX Comments: Borrower with current employer for XXX years

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves exceed guidelines, verified post closing $XXX, required reserves $XXX

Borrower self employed, XXX . Using XXX months XXX statements from XXX from XXX. XXX% deposits. $XXX monthly income.

Assets: Post closing $XXX months reserves.

XXX months PITI required: XXX

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80090312979

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: TRID - CD: At least one section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD dated XXX- Loan Costs- Section C- Survey fee is missing the payee name. Corrected on the Final CD dated XXX.

- XXX Conclusion Comments: XXX, Exception Satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX is below lender's guide lines max of XXX%.

XXX: Credit score exceeds guidelines

- XXX Comments: Qualifying fico of XXX exceeds minimum required per guidelines of XXX.

XXX: Borrower has significant time at current job

- XXX Comments: borrower has been on current job for XXX years.

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Verified cash reserves exceeds lender's guide lines with XXX months PITI reserves.

Income-

Borrower is self employed. Used alt docs, XXX months business bank statements to qualify. Reviewed bank statements from XXX. total deposits of $ XXX expense ratio= $XXX. Used as monthly income.

Income supported by bank statements, business search, business documents, CPA letter, and verbal VOE.

Assets/Reserves- Cash reserves of $XXX months PITI reserves, exceed lender's guidelines.

As per credit risk summary, there are no lender exceptions.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090312737

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

Yes

XXX

XXX mos interest on amt prepd in XXX mos that is >XXX% of XXX

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

No Doc

(No Data)

Present

XXX

Present

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: XXX months PITI reserves; XXX months required.

XXX: Credit score exceeds guidelines

- XXX Comments: Credit score of XXX is XXX points above the minimum required score of XXX

Investor cash flow:

Monthly rent $XXX using lower actual rent amount from comparable rent schedule/PITI $XXX

Assets:

Borrower has $XXX months of PITI reserves; XXX months PITI reserves required by guidelines.

ATR/QM: Not Applicable

DSCR - w/rent schedule - XXX months

(No Data)

80090412928

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: Credit score exceeds guidelines

- XXX Comments: Credit Score XXX exceeds guidelines XXXXXX.

XXX: DTI below guideline requirement

- XXX Comments: DTI XXX% below guideline requirements XXX%

Income -

XXX months XXX bank statements less credits for Lottery, Returns, misc credits - XXX. Total deposits $XXX total monthly income.

Assets:

Verified $XXX after closing; XXX months reserves required XXX; XXX months reserves verified

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

Personal Bank Statements - XXX months

(No Data)

80090412768

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1073 XXX (XXX)

XXX

As-Is

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is XXX/XXX%. Maximum DTI is XXX/XXX%

XXX: LTV below guideline requirements

- XXX Comments: LTV is XXX%. Maximum LTV is XXX%.

XXX: Significant time in profession

- XXX Comments: Borrower is in profession for XXX years.

Income: Borrower is Self-Employed, income derived using XXX months XXX Bank Statements ($XXX) monthly pay. Income is supported by bank statements, CPA Letter and business verification.

Assets/Reserves: Verified post close assets of $XXX months PITIA reserves. XXX months PITIA reserves required for the subject property (XXX) total reserves required.

Non-QM: Lender documented all ATR UW factors

Personal Bank Statements - XXX months

(No Data)

80090412442

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Preliminary Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage. Per XXX loan is assumable upon approval after initial fixed period.

XXX: Credit/Mtg History: Credit score below guidelines

- Initial XXX Comments: credit score of XXX is below guideline minimum of XXX.

XXX: Assets: Asset Amounts Are Unsupported by Documentation in File

- Initial XXX Comments: Missing XXX for wire in to acct. XXX on XXX in the amt. of XXX ( if sale of departure, provide signed XXX closing statement).

XXX: XXX Integrated Disclosure: TRID - CD delivered only XXX but there is no prior e-sign consent in file; by regulation, CD must be treated as not delivered

- Initial XXX Comments: Econsent not in file, per Disclosure Tracking Summary XXX signed XXX

- Client/Seller Response Comments: XXX: Lender provided the borrower's XXX

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX Clear Capital Desk review received valued at $XXX dated XXX, value supported.

- XXX Conclusion Comments: XXX Exception Satisfied.

XXX: Assets: Insufficient # of months cash reserves for PITI per guideline requirements

- Initial XXX Comments: Missing sufficient number of months cash reserves. Borrower has only XXX months piti reserves.Lender granted exception for not meeting reserves requirement.

- Client/Seller Response Comments: XXX, Lender provided exception to reduce reserves to XXX months.

- XXX Conclusion Comments: XXX. After further review by XXX exception downgraded to non-material. Borrower has DTI of XXX is below guide line requirement of max XXX%.Borrower has residual income of $XXX. XXX final grade XXX.

- Related Compensating Factors:

- Good credit history - Borrower has a good credit history with one minor XXX in the past XXX months.

- DTI below guideline requirement - DTI of XXX is below guide line requirement of max XXX%.

- Borrower has significant time at current job - Borrower has been on current job for XXX years.

XXX: Good credit history

- XXX Comments: Borrower has a good credit history with one minor XXXin the past XXX months.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX is below guide line requirement of max XXX%.

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been on current job for XXX years.

Income-

Borrower is self employed. Used alt docs, XXX months business bank statements to qualify. Reviewed bank statements from XXX. Total deposits of $XXX% expense ratio=$XXX

Used as monthly income.

Income supported by bank statements, CPA letter, business search/documents, and verbal VOE.

Credit-fico score XXX, just shy on XXX minimum requirement.

Assets/Reserves- Cash reserves of $XXX months PITI reserves, doesn't meet lender's guide line requirements. XXX

As per credit risk summary, there is an lender exception for reserves.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months

(No Data)

80080804339

XXX

(No Data)

XXX

Not Applicable

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Consumer Protection: XXX - Required XXX Disclosure missing

- Initial XXX Comments: Required XXX Disclosure missing in file

XXX: XXX Integrated Disclosure: XXX - Written List of Providers not compliant

- Initial XXX Comments: Written List of Providers not compliant - insufficient information to allow the consumer to contact the provider ( XXX forms of contact needed). Missing email address with / or telephone number for several closing agents and translator

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section C. field Title- Settlement Fee - missing payee's nameFinal CD XXX, section E. field both Tax Stamps - missing payee's names

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Review, value supporting appraisal valuation.

- XXX Conclusion Comments: XXX- Exception Satisfied.

(No Data)

XXX: Borrower has significant time at current job

- XXX Comments: Borrower has been with same employment for XXX years.

XXX: Significant time in profession

- XXX Comments: Borrower has been in same profession XXX years.

Income:

B1: XXX month business assets averaged for $ XXX monthly income however the lender used $XXX.

Assets:

Post closing assets $XXX; XXX months PITI reserves.

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081004512

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: Final CD XXX, section F. field County Taxes - missing number of months ( ) Condition pending receiving corrected Post CD with XXX and proof of delivery to borrower.

XXX: XXX Integrated Disclosure: XXX - Written List of Providers not compliant

- Initial XXX Comments: Written List of Providers not compliant - only mailing address for several Closing Agents and Translator servicer provided - insufficient information to allow the consumer to contact the provider ( XXX forms of contact needed). Missing email address with / or telephone number

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $ XXX.

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied

(No Data)

XXX: DTI below guideline requirement

- XXX Comments: DTI is below guide line requirement at XXX% max per guidelines is XXX%.

XXX: Good credit history

- XXX Comments: borrower has good credit history with a minor late from XXX/XXX , and representative fico score of XXX.

Income-

Borrower is a self employed attorney. Income derived from XXX months business bank statements to qualify. Reviewed bank statements from XXX. As per p and l, gross receipts of $XXX (less expenses) XXX. Used XXX as monthly income. Income supported by bank statements, business documents, p and l, and Verbal VOE.

Assets- Cash reserves of $XXX months PITIA reserves ,exceed guide line requirements of XXX months reserves or $XXX

Non-QM: Lender documented all ATR UW factors

Business Bank Statements - XXX months;

P & L - XXX months;

Personal Bank Statements - XXX months

(No Data)

80081004196

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Not Applicable

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Alt Doc/Bank Statements

(No Data)

XXX

(No Data)

XXX: XXX Integrated Disclosure: TRID - CD: Inconsistency between the amounts disclosed for the components of the escrow amount in Other Costs and the total XXX amount disclosed in Loan Disclosures

- Initial XXX Comments: Total XXX amount disclosed in Loan Disclosures total XXX months worth of XXX. Corrected post close CD required with the XXX month amount of $XXX.

- Client/Seller Response Comments: XXX: Lender provided PCCD dated XXX with the XXX Costs Over Year XXX value reflecting XXX months and a letter of explanation to the borrower.

- XXX Conclusion Comments: XXX: Exception satisfied.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX: Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX: Exception satisfied

(No Data)

XXX: Verified cash reserves exceed guidelines

- XXX Comments: Post Close Reserves $XXX - XXX months reserves.

XXX: DTI below guideline requirement

- XXX Comments: DTI of XXX% below guideline requirement XXX%

XXX: Significant time in profession

- XXX Comments: B1 has XXX years in same profession.

Income -

XXX month average XXX bank statements. Using XXX months starting XXX. Loan submitted with Bank Statement Worksheet with XXX statement however was not provided. XXX statement used as was part of assets. Income $XXX as submitted

Assets -

Post Close Reserves $XXX months reserves. XXX months reserves required (XXX). Have tape discrepancy in reserves as loan submitted with total assets $XXX however $XXX verified using balance of XXX $XXX just prior to pulling out funds for closing.

Non-QM: Lender documented all ATR UW factors

CPA Letter with Income - XXX months;

Personal Bank Statements - XXX months;

Verbal VOE with Income - XXX months

(No Data)

80081004711

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

Fixed

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not Assumable

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Fully Amortized

XXX

Asset Depletion

(No Data)

XXX

(No Data)

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital desk review supporting appraisal value.

- XXX Conclusion Comments: XXX- Exception satisfied.

XXX: DTI: Missing verification of some or all components of non-subject PITI

- Initial XXX Comments: Provide property, that loan to XXX******XXX, with payment of $XXX, is attached to, along with Mortgage Statement, HOI, Tax Information and HOA, if applicable.

- Client/Seller Response Comments: XXX- Lender responded that debt reflect has an revolving account and is not tied to an property.

- XXX Conclusion Comments: XXX- Exception satisfied.

(No Data)

XXX: Significant time at current residence

- XXX Comments: Borrowers have owned their home XXX years.

XXX: Postive mortgage payment history

- XXX Comments: XXX months mortgage history with no late pays.

XXX: Credit score exceeds guidelines

- Clayton Comments: Credit score of XXX exceeds the required score of XXX, XXX points XXX

Verified net assets, $XXX which exceeds minimum residual income of XXX

Assets: Borrower has $XXX in reserves; XXX months

Non-QM: Lender documented all ATR UW factors

Equity Income - XXX months

(No Data)

80081104287

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Conventional

XXX

ARM

Present

XXX

(No Data)

XXX

XXX Month XXX XXX (daily) (DISCONTINUED)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Present

1004 SFR (XXX)

XXX

(No Data)

XXX

As-Is

XXX

(No Data)

XXX

Present

XXX

Not for fixed period; upon credit approval for adj period

(No Data)

XXX

Present

XXX

(No Data)

Commitment Title

Fee Simple

XXX

(No Data)

XXX

Present

XXX

Present

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

(No Data)

XXX

Qualifying Rate, Fully Amortized

XXX

Full Doc

(No Data)

XXX

(No Data)

Present

(No Data)

XXX: XXX Integrated Disclosure: XXX - CD: At least XXX section contains formatting that does not comply with the Regulation

- Initial XXX Comments: CD: XXX, CD: XXX and Final CD: XXX Other Costs, Prepaids, Property tax is missing the number of months.

XXX: XXX Integrated Disclosure: XXX - Assumption selection on the CD does not match the clause in the mortgage.

- Initial XXX Comments: Assumption selection on the CD does not match the clause in the mortgage.

XXX: XXX Integrated Disclosure: XXX - CD: The stated Closing Costs Financed (Paid from Your Loan Amount) amount in the CD Calculating Cash to Close section (Alt Version) does not equate to the amount based on the XXX .

- Initial XXX Comments: CD: XXX [Last CD], Section: Calculating Cash to Close, Field: Closing Costs Financed - Final, Value: XXX and Field: XXX Calculation, Value: XXX. Values does not match.

XXX: Appraisal: Missing updated valuation

- Initial XXX Comments: Missing secondary valuation for securitization supporting appraised value of $XXX

- Client/Seller Response Comments: XXX- Lender provided Clear Capital Desk Review, value supporting appraisal value.

- XXX Conclusion Comments: XXX Exception Satisfied

(No Data)

XXX: LTV below guideline requirements

- XXX Comments: Qualifying LTV of XXX% is less than the maximum allowed of XXX%.

XXX: Co-Borrower has significant time at current job

- XXX Comments: Borrower has been on her job XXX years and XXX months

Income:

B1 is self employed Schedule C XXX. Income calculated at $XXX monthly. Calculation in folder.

B2 earns variable income. Average was taken using the last XXX months from XXX in file

XXX monthly

reserves:

sourced:

Months PITI Reserves XXX

Months PITI Reserves (Qual Rate) XXX

Cash Reserves $XXX

required:

XXX months PITI, met

Non-QM: Lender documented all ATR UW factors

Personal Tax Return - XXX months

Paystub - XXX months;

Personal Tax Return - XXX months;

W2 - XXX months;

Written VOE - XXX months

(No Data)