MORGAN STANLEY CAPITAL I INC. ABS-15G

Exhibit 99.2 - Schedule 1

 

                                                                                         
Exception Grades                                                                                      
Run Date - 9/3/2025 11:41:33 AM                                                                                          
SitusAMC Loan ID Customer Loan ID Seller Loan ID Investor Loan Number Loan Exception ID Exception ID Exception Date Exception Type Exception Category Exception Subcategory 15E Category Exception Exception Detail Exception Information Compensating Factors Compensating Factor Information Applying Party Follow-up Comments Cleared Date Cured Date Waived Date Exception Level Grade DBRS Initial Exception Rating DBRS Final Exception Rating Fitch Initial Exception Rating Fitch Final Exception Rating Kroll Initial Exception Rating Kroll Final Exception Rating Moody's Initial Exception Rating Moody's Final Exception Rating S&P Initial Exception Rating S&P Final Exception Rating Note Date Property State Occupancy Purpose Exception Remediation Overall
Initial Loan Grade		 Overall
Final Loan Grade		 Credit
Initial Loan Grade		 Credit
Final Loan Grade		 Compliance
Initial Loan Grade		 Compliance
Final Loan Grade		 Property
Initial Loan Grade		 Property
Final Loan Grade		 Originator QM ATR Status TPR QM ATR Status Is Curable
[Redact] 6505228 [Redact]   28120232     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - Mortgage Statement, Insurance verification and Tax certificate are missing for property '[Redact]'       Reviewer Comment (2023-03-21): Mortgage statement provided


Seller Comment (2023-03-17): REO


Reviewer Comment (2023-03-16): Received  Mortgage Statement with P&I Amount - [Redact] & in final  1003 P&I is [Redact]. Exception Remains.


Seller Comment (2023-03-15): REO
 03/21/2023     1 C A C A C A C A C A   [Redact] Investment Purchase   D B C A B B D A Exempt from ATR Exempt from ATR No
[Redact] 6505228 [Redact]   28120358     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status. Evidence of earlier borrower receipt was not found in file.       Buyer Comment (2023-03-20): Initial and Final Grade B, accepted
     03/20/2023 2 B B B B B B B B B B   [Redact] Investment Purchase   D B C A B B D A Exempt from ATR Exempt from ATR No
[Redact] 6505228 [Redact]   28120882     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2023-03-16): CDA provided. Exception cleared.
 03/16/2023     1 D A D A D A D A D A   [Redact] Investment Purchase   D B C A B B D A Exempt from ATR Exempt from ATR No
[Redact] 6505258 [Redact]   28122794     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.             03/14/2023 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B A A A A N/A Exempt from ATR No
[Redact] 6509701 [Redact]   28193109     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2023-04-05): Secondary valuation obtained
 04/05/2023     1 D A D A D A D A D A   [Redact] Investment Refinance - Rate/Term   D A A A A A D A Exempt from ATR Exempt from ATR No
[Redact] 6509702 [Redact]   28186057     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2023-04-04): Secondary valuation obtained
 04/04/2023     1 D A D A D A D A D A   [Redact] Investment Purchase   D B A A B B D A Exempt from ATR Exempt from ATR No
[Redact] 6509702 [Redact]   28186083     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. Provide Acknowledgement of Appraisal Report send to borrower and receipt of borrower received the report             03/24/2023 2 B B B B B B B B B B   [Redact] Investment Purchase   D B A A B B D A Exempt from ATR Exempt from ATR No
[Redact] 6936220 [Redact]   29574001     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Fraud Report not provided in the file.       Reviewer Comment (2023-11-01): Fraud Report received. Exception cleared


Buyer Comment (2023-10-31): fraud
 11/01/2023     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A N/A N/A No
[Redact] 6936220 [Redact]   29574003     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - Mortgage Statement missing for REO properties  "[Redact]" & "[Redact]".       Reviewer Comment (2023-11-20): Received HELOC agreement with Proof of withdrawal and Calculation of P&I along with updated 1003. Exception cleared


Buyer Comment (2023-11-17): HELOC Explanation/Information


Reviewer Comment (2023-11-16): Provide HELOC Agreement IAo [Redact] with Interest of [Redact].as available HELOC shows Limit of [Redact], Additionally Require updated 1003 with HELOC payment updated as it is showing free and clear. Exception Remains


Buyer Comment (2023-11-15): comment from lender: HELOC payment calculation. Would you like us to update 1003/1008 and AUS to reflect [Redact]?


Reviewer Comment (2023-11-13): As per 1008 shows Primary Property P&I  [Redact] is included in HTI calculation. Please provide Supporting document or explanation about [Redact] P&I payment. If primary property is Free and clear. Provide revised 1008 and AUS without considering Primary property P&I [Redact] in HTI/DTI calculation. Exception remains


Buyer Comment (2023-11-10): Our UW is requesting specific changes that need to be changed on AUS be provided for [Redact]. For [Redact], please see attached UW notes and property profile.


Buyer Comment (2023-11-10): Per Lender: Our UW is requesting specific changes that need to be changed on AUS be provided for [Redact]. For [Redact], please see attached UW notes and property profile


Reviewer Comment (2023-11-02): Refinanced Note, Security Instrument & Closing Statement provided for REO property "[Redact]" with new PITIA amount, which results in change in DTI. Provide revised 1008, AUS & Final 1003 with corrected changes.

Fraud Report shows Mortgage as [Redact] sale date [Redact] for REO property ""[Redact]", not able to identify closed history status for this Mortgage. Provide closed history for this Mortgage or provide Mortgage Statement if there is any active mortgage on the property.


Buyer Comment (2023-11-01): Property detail


Buyer Comment (2023-11-01): Deed
 11/20/2023     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A N/A N/A No
[Redact] 6936220 [Redact]   29574004     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - Evidence of Free & Clear missing for REO properties "[Redact]" & "[Redact]".       Reviewer Comment (2023-11-02): Received Fraud Report. Exception Cleared


Buyer Comment (2023-11-01): HOI [Redact]
 11/02/2023     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A N/A N/A No
[Redact] 6936220 [Redact]   29574005     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   The Title Commitment Report in file disclosed [Redact] of title insurance coverage; however this is less than the loan amount of [Redact]. Provide a copy of the final title policy or a supplemental title report verifying title insurance of at least the loan amount.       Reviewer Comment (2023-11-03): Title commitment provided.


Buyer Comment (2023-11-01): Title
 11/03/2023     1 B A B A B A B A B A   [Redact] Investment Purchase   C A C A A A A A N/A N/A No
[Redact] 6964516 [Redact]   29632924     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided           Reviewer Comment (2024-01-23): Provided and cleared.


Reviewer Comment (2024-01-22): Fraud report missing for 3rd borrower exception remains.
 01/23/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B A A A A N/A Exempt from ATR No
[Redact] 6964516 [Redact]   29697478     Credit Income / Employment Income Documentation Income / Employment The verification of employment is not within 10 business days of the Note. - VVOE is post-close. Miscellaneous

Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least [Redact].

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The Loan to Value (LTV) on the loan is less than or equal to 70%.

The representative FICO score is above 680.		 Months Reserves: 264.35

20 years in field

FICO: 730		 [Redact],Aggregator

Aggregator,[Redact]

[Redact]

[Redact]

[Redact]

[Redact]

Aggregator,[Redact]		 Reviewer Comment (2024-02-06): Client elected to waive the condition with the following compensating factors:
Months Reserves: 264.35
DTI: 38.761%
20 years in field
FICO: 730


Reviewer Comment (2024-01-07): Required VVOE no more than 10 business days prior to the note date to clear this condition. Exception Remains.


Seller Comment (2024-01-04): We agree that the VVOE was completed post-closing.  However, per DU cert item #16 "Lenders also have the option of obtaining the verbal verification of employment after the Note date (and prior to delivery of the loan to Fannie Mae)".  Since we are selling the loan to [Redact]  the loan has not yet been delivered to FNMA.  Therefore this VOE meet Agency standards.
     02/06/2024 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B A A A A N/A Exempt from ATR No
[Redact] 6964516 [Redact]   29697480     Credit Income / Employment Income Documentation Income / Employment The verification of employment is not within 10 business days of the Note. - VVOE is post-close. Miscellaneous

Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least [Redact].

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The Loan to Value (LTV) on the loan is less than or equal to 70%.

The representative FICO score is above 680.		 Months Reserves: 264.35

20 years in field

FICO: 730		 [Redact],Aggregator

Aggregator,[Redact]

[Redact]

[Redact]

[Redact]

[Redact]

Aggregator,[Redact]		 Reviewer Comment (2024-02-06): Client elected to waive the condition with the following compensating factors:
Months Reserves: 264.35
DTI: 38.761%
20 years in field
FICO: 730


Reviewer Comment (2024-01-07): Required VVOE no more than 10 business days prior to the note date to clear this condition. Exception Remains.


Seller Comment (2024-01-04): We agree that the VVOE was completed post-closing.  However, per DU cert item #16 "Lenders also have the option of obtaining the verbal verification of employment after the Note date (and prior to delivery of the loan to Fannie Mae)".  Since we are selling the loan to [Redact]  the loan has not yet been delivered to FNMA.  Therefore this VOE meet Agency standards.
     02/06/2024 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B A A A A N/A Exempt from ATR No
[Redact] 6989251 [Redact]   29945996     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   The file was missing a copy of the required fraud report including all interested parties to the transaction.       Reviewer Comment (2024-02-12): Fraud Report obtained
 02/12/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 6989251 [Redact]   29954146     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided   Final 1008 reflecting the terms of the Final AUS is missing from file.       Reviewer Comment (2024-02-26): Received 1008. Exception Cleared.


Seller Comment (2024-02-23): Please see attached


Reviewer Comment (2024-02-15): Required 1008 which matching loan terms and ratios with AUS. Exception Remains.


Seller Comment (2024-02-14): 1008 - DTI does not match approval, but that does not play a role in the approval process. Please clear
 02/26/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 6989382 [Redact]   29975829     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   The file is missing a copy of Fraud Report       Reviewer Comment (2024-02-15): Fraud Report obtained
 02/15/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 6989382 [Redact]   29975835     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - Missing verification of HOI for [Redact] and [Redact].       Reviewer Comment (2024-02-28): Mortgage is paid off hence no insurance required. Exception Cleared.


Seller Comment (2024-02-26): REO rebuttal
 02/28/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 6989382 [Redact]   29983990     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided           Reviewer Comment (2024-02-28): Received Loan Underwriting and Transmittal Summary (1008). Exception Cleared.


Seller Comment (2024-02-26): 1008
 02/28/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 8103939 [Redact]   30690103     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             06/04/2024 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 8877819 [Redact] [Redact] 32128344     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2024-12-06): Waived on Rate Lock: Collateral cleared by Custodian
 12/06/2024     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 8877819 [Redact] [Redact] 32300179     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               12/04/2024 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 8877819 [Redact] [Redact] 32300180     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               12/04/2024 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 8877819 [Redact] [Redact] 32303034     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Qual Method differs from ATR, DTI not Understated Ability to Repay (Dodd-Frank 2014): The Qualification Method used by the lender does not match the ATR payment calculation methods under 1026.43(c)(5), but the method did not render a DTI that is less than that prescribed under ATR.               12/04/2024 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 8991366 [Redact]   32302983     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   The File was Missing the Secondary Valuation required for Securitization purposes.       Reviewer Comment (2024-12-13): Secondary valuation provided.
 12/13/2024     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A A A     D A   N/A No
[Redact] 8991472 [Redact]   32322771     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2024-12-18): Secondary valuation provided.
 12/18/2024     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A A A     D A   N/A No
[Redact] 9025495 [Redact] [Redact] 32579300     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-03-26): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-03-24): (Rate Lock) [Redact]
 03/26/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9025495 [Redact] [Redact] 33096194     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided           Reviewer Comment (2025-05-30): Received Revised Note signed by borrowers Individual and as Member. Guarantor Agreement is not required. Exception Cleared.


Seller Comment (2025-05-29): The note was changed and the borrower signed as an individual instead of the LLC, therefore the Personal Guaranty is no longer required.


Reviewer Comment (2025-05-29): Required Guarantor Agreement to clear this condition. Exception Remains.


Seller Comment (2025-05-28): Attached the updated note in place of the Guarantor Agreement, Please Clear.
 05/30/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9028690 [Redact] [Redact] 32598815     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-02-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-02-04): (Rate Lock) Per attached, the original Note was delivered [Redact] per [Redact] [Redact]


Seller Comment (2025-02-03): (Rate Lock) NOTE SHIPPED [Redact] - TRACKING NUMBER
[Redact]
 02/05/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9028690 [Redact] [Redact] 32769199     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Second Appraisal Fee wasn't disclosed to the borrower on the LE, the final CD shows the fee as [Redact], however there was a lender credit to cover the cost to cure.       Reviewer Comment (2025-02-03): Sufficient Cure Provided At Closing
   02/03/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9028690 [Redact] [Redact] 32772537     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Qual Method differs from ATR, DTI not Understated Ability to Repay (Dodd-Frank 2014): The Qualification Method used by the lender does not match the ATR payment calculation methods under 1026.43(c)(5), but the method did not render a DTI that is less than that prescribed under ATR.               02/03/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9058479 [Redact] [Redact] 32814025     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-03-12): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-03-10): (Rate Lock) Collateral Tracking [Redact]
 03/12/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B B B B B A A Non QM Non QM No
[Redact] 9058479 [Redact] [Redact] 32976869     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage. Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             03/05/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B B B A A Non QM Non QM No
[Redact] 9058479 [Redact] [Redact] 32979256     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             03/05/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B B B A A Non QM Non QM No
[Redact] 9060808 [Redact] [Redact] 32828479     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-23): Waived on Rate Lock: Collateral cleared by Custodian
 04/23/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9060808 [Redact] [Redact] 33290821     Credit Credit Miscellaneous Guideline Credit Exception:   Non-Arms Length Transaction - borrower is purchasing property from aunt.  Client exception approval made; however fully executed exception approval is missing from the file. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.

The qualifying DSCR on the loan is greater than the guideline minimum.		 Post close reserves [Redact] liquid 19 months where 6 months is required (3X)

DSCR 1.14 where 1.0 is minimum		 Originator Pre-Close,Aggregator,[Redact]

[Redact]

[Redact]

[Redact],Originator Pre-Close,Aggregator		 Reviewer Comment (2025-04-22): Client elected to waive the condition with the following Compensating Factors:
Credit Depth: 19 years mortgage history 26 year trade history all paid as agreed.
DSCR 1.14 where 1.0 is minimum
Post close reserves [Redact] liquid 19 months where 6 months is required (3X)


Seller Comment (2025-04-21): (Rate Lock) exception form


Reviewer Comment (2025-04-21): The exception approval form is required.  The email provided is not sufficient.  The approval form, executed by the client, identifying the allowable tolerances and compensating factors is needed to downgrade and waive the condition.  Condition remains


Seller Comment (2025-04-18): (Rate Lock) approved exception
     04/22/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9061656 [Redact] [Redact] 32837070     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-07): Waived on Rate Lock: Collateral cleared by Custodian
 04/07/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C A C A C A A A Non QM Non QM No
[Redact] 9061656 [Redact] [Redact] 33178585     Credit Disclosure Missing Document Disclosure E-sign Consent Agreement is missing. - E-Sign Consent Agreement not provided.       Reviewer Comment (2025-04-06): Received E-Sign Consent. Exception Cleared.


Seller Comment (2025-04-04): econsent
 04/06/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C A C A C A A A Non QM Non QM No
[Redact] 9061656 [Redact] [Redact] 33178628     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Survey Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.  Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.       Reviewer Comment (2025-04-09): [Redact] received attestation is sufficient.


Seller Comment (2025-04-08): Please see attached
 04/09/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A C A C A A A Non QM Non QM Yes
[Redact] 9061656 [Redact] [Redact] 33185569     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Rider - PUD not provided   The appraisal identified the subject as a PUD.  The file is missing a copy of the PUD Rider attached to the Mortgage. Provide a copy of the PUD Rider and proof that the Mortgage will be re-recorded with the rider.  If the subject is not a PUD, provide a revised appraisal correcting the property type.       Reviewer Comment (2025-05-13): Revised Mortgage adding the PUD Rider and proof the revised Mortgage will be recorded was provided


Seller Comment (2025-05-13): Please see attached
 05/13/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C A C A C A A A Non QM Non QM No
[Redact] 9063591 [Redact] [Redact] 32844022     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-23): Waived on Rate Lock: Collateral cleared by Custodian
 05/23/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9075277 [Redact] [Redact] 32944189     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-09): Waived on Rate Lock: Collateral cleared by Custodian
 05/09/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9075277 [Redact] [Redact] 33423890     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.             05/07/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9075277 [Redact] [Redact] 33426212     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - ___ The file is missing the CD or other documentation to verify the new PITIA for the simultaneous refinance of the REO confirming a PITIA payment of [Redact].       Reviewer Comment (2025-06-19): CD from refi provided to verify the PITIA


Seller Comment (2025-06-19): (Rate Lock) CD
 06/19/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9075277 [Redact] [Redact] 33426213     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Investor qualifying total debt ratio discrepancy. Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___. The DTI exceeds the guideline max of 45.00%.  The difference is due to the lender did not include the [Redact] HOA dues in the PITIA for the borrower's  primary residence. The representative FICO score exceeds the guideline minimum by at least 40 points.

Borrower has been employed in the same industry for more than 5 years.

Borrower has worked in the same position for more than 3 years.		 FICO: 710 where 660 is required (50 points) [Redact],Aggregator

[Redact]

[Redact]		 Reviewer Comment (2025-06-06): Client elected to waive the condition with the following compensating factors:
Residual income of [Redact] where [Redact] is required (2X)
Credit Depth: Mortgage history 10 years (B1) and 19 years B2) all paid as agreed.
REO Equity [Redact]
FICO: 710 where 660 is required (50 points)
     06/06/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A Exempt from ATR Exempt from ATR No
[Redact] 8998182 [Redact]   32952021     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status. Right to Receive a Copy appraisal disclosure not provided within three business days of application.       Buyer Comment (2025-01-07): Acknowledged as non-material grade B per investor request.
     01/07/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 8998182 [Redact]   32952022     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided   Closing Protection Letter is missing in file.       Reviewer Comment (2025-01-14): CPL provided


Buyer Comment (2025-01-11): CPL
 01/14/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 8998182 [Redact]   32952023     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   1003 Final is missing in file.       Reviewer Comment (2024-12-18): Exception cleared - Property management questionnaire associated.
 12/18/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 8998182 [Redact]   32952024     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for borrowing Entity.       Reviewer Comment (2025-01-14): Provided OFAC Search result for borrowing business entity. Exception cleared.


Buyer Comment (2025-01-11): Ofac
 01/14/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 8998182 [Redact]   32952025     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided           Reviewer Comment (2024-12-26): Loan approval doc in file. exception cleared.


Buyer Comment (2024-12-21): Is document on page 522 D0262 sufficient to clear this exception?
 12/26/2024     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9076434 [Redact] [Redact] 32952939     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-20): Waived on Rate Lock: Collateral cleared by Custodian
 05/20/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   A A A A     A A   N/A No
[Redact] 9076434 [Redact] [Redact] 33441611     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Mortgagor Name(s) does not agree with Schedule SCH: [Redact]                NOTE:[Redact]       Buyer Comment (2025-05-20): Waived on Rate Lock: Collateral cleared by Custodian
 05/20/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Limited Cash-out GSE   A A A A     A A   N/A No
[Redact] 9076182 [Redact] [Redact] 32954266     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-04): Waived on Rate Lock: Collateral cleared by Custodian
 04/04/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9076182 [Redact] [Redact] 33149073     Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   HOI policy available in file is for different address       Reviewer Comment (2025-04-03): Received Hazard Insurance Policy. Exception Cleared.


Seller Comment (2025-04-02): HOI Binder
 04/03/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9076182 [Redact] [Redact] 33180321     Credit Hazard Insurance Document Error Hazard Insurance Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.   HOI policy does not reflects mortgagee clause.  Lender to provide updated policy reflecting "Lender its successors and assigns"       Reviewer Comment (2025-04-22): Updated declarations page provided.


Seller Comment (2025-04-22): Borrower had insurance, but cancelled it. This is their new HOI for the subject property.
 04/22/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9076182 [Redact] [Redact] 33329154     Credit Insurance Insurance Documentation Insurance Rent loss insurance is required on all properties and there is no evidence of this insurance in the file.   Updated declarations page provided.  There was no rent loss coverage verified and the policy dates are post-close.  Provide a copy of declaration page or policy in effect at or prior to closing, with sufficient coverage, rent loss coverage and includes the loss payee information.       Reviewer Comment (2025-05-21): Policy in effect post-close contains rental loss coverage


Reviewer Comment (2025-04-28): An additional copy of the binder that was provided initially as a trailing doc was provided.  The binder does not verify the loss payee information.  The updated declarations page provided on [Redact] included the loss payee information but was not in effect at closing and did not contain rent loss coverage.  A declaration page verifying sufficient coverage, rent loss coverage, loss payee information and is in effect at or prior to closing is required to clear the conditions.  We cannot pick and chose which fields to capture from the binder and the declaration page.  Condition remains


Seller Comment (2025-04-24): Hello, please see attached insurance that was effective at close.
 05/21/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9076182 [Redact] [Redact] 33329155     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing.   Updated declarations page provided.  The policy effective date is post-close.  Provide a copy of declaration page or policy in effect at or prior to closing, with sufficient coverage, rent loss coverage and includes the loss payee information.       Reviewer Comment (2025-05-21): Policy in effect at closing provided


Seller Comment (2025-05-21): Insurance effective at close.


Seller Comment (2025-05-21): Insurance effective at the time of close.


Seller Comment (2025-05-21): Insurance effective at the time of closing
 05/21/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9077534 [Redact] [Redact] 32966728     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-18): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-04-17): collateral delivered [Redact] via [Redact] tracking [Redact]
 04/18/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9077534 [Redact] [Redact] 33243975     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___. Lender Exception for both DSCR not meeting first time investor requirement and requirement to have 12 months of payment history. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves [Redact] 57 months reserves where 6 is required (9X)

FICO: 786 where 700 is minimum		 Originator Pre-Close,Aggregator,[Redact]

[Redact],Originator Pre-Close,Aggregator		 Reviewer Comment (2025-04-11): Client elected to waive the condition with the following Compensating Factors:
Reserves [Redact] months reserves where 6 is required (9X)
LTV 70 where 75 is maximum
FICO: 786 where 700 is minimum
     04/11/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9081478 [Redact] [Redact] 32988846     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-22): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-04-21): Collateral was delivered on [Redact] via [Redact] tracking [Redact]
 04/22/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9083317 [Redact] [Redact] 32996667     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-07): Waived on Rate Lock: Collateral cleared by Custodian
 05/07/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9083317 [Redact] [Redact] 33401766     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is renting their primary residence since [Redact].  Prior to that was living rent free. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 [Redact] post-close reserves (77 months; or 6x).

805 FICO is 105 points over min (700).		 Originator Pre-Close,Aggregator,[Redact]

[Redact]

[Redact]

Originator Pre-Close,Aggregator,[Redact]		 Reviewer Comment (2025-05-02): Client elected to waive the condition with the following Compensating Factors:
Property management experience including 5-year mtg history paid as agreed.
[Redact] post-close reserves (77 months; or 6x).
805 FICO is 105 points over min (700).
     05/02/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9083327 [Redact] [Redact] 32997620     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-09): Waived on Rate Lock: Collateral cleared by Custodian
 04/09/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9083329 [Redact] [Redact] 32997819     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-15): Waived on Rate Lock: Collateral cleared by Custodian
 04/15/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083329 [Redact] [Redact] 33233930     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business purpose certificate is not provided.       Reviewer Comment (2025-05-06): BPC provided


Seller Comment (2025-05-06): (Rate Lock) biz purpose
 05/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083329 [Redact] [Redact] 33236756     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact]  OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-04-23): RCE provided. Exception cleared.


Seller Comment (2025-04-22): (Rate Lock) coverage
 04/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083329 [Redact] [Redact] 33245335     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided   The file is missing a copy of the guaranty agreement.       Reviewer Comment (2025-05-16): Received Guarantor Agreement. Exception Cleared.


Seller Comment (2025-05-15): (Rate Lock) guar agrmnt
 05/16/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083329 [Redact] [Redact] 33245339     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   The file is missing the Corporate Resolution to confirm the guarantor has authority to sign on behalf of the LLC.       Reviewer Comment (2025-05-06): Resolution provided


Seller Comment (2025-05-06): (Rate Lock) resolution
 05/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083329 [Redact] [Redact] 33245344     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Employer Identification Number (EIN) not provided   The file is missing proof of the EIN for the LLC       Reviewer Comment (2025-04-23): EIN verification provided. Exception cleared.


Seller Comment (2025-04-22): (Rate Lock) tax ID [Redact]
 04/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083329 [Redact] [Redact] 33245345     Credit Insurance Insurance Documentation Insurance Hazard Insurance Error: Subject hazard insurance premium is missing from evidence of insurance.   Unable to determine the premium for the subject. Blanket policy in file includes 5 properties, but the premium is not broken down.       Reviewer Comment (2025-05-06): Premium provided


Seller Comment (2025-05-05): (Rate Lock) premium broken out


Reviewer Comment (2025-04-23): Trailing docs did not contain breakdown of premium for subject. Premium reflected is annualized over four properties.


Seller Comment (2025-04-22): (Rate Lock) premium
 05/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083330 [Redact] [Redact] 32997852     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-15): Waived on Rate Lock: Collateral cleared by Custodian
 04/15/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9083330 [Redact] [Redact] 33233482     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The Title Policy has a coverage amount of [Redact] this is less than the note amount of [Redact] Please provide an updated title Commitment or final title.             04/11/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9083330 [Redact] [Redact] 33233489     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Employer Identification Number (EIN) not provided           Reviewer Comment (2025-04-23): EIN verification provided. Exception cleared.


Seller Comment (2025-04-22): (Rate Lock) [Redact] tax id
 04/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9083330 [Redact] [Redact] 33233490     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided           Reviewer Comment (2025-05-16): Received Guarantor Agreement. Exception Cleared.


Seller Comment (2025-05-15): (Rate Lock) guar agrmnt
 05/16/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9083330 [Redact] [Redact] 33245346     Credit Insurance Insurance Documentation Insurance Hazard Insurance Error: Subject hazard insurance premium is missing from evidence of insurance.   Unable to determine the premium for the subject. Blanket policy in file includes 5 properties, but the premium is not broken down.       Reviewer Comment (2025-05-06): Premium provided


Seller Comment (2025-05-05): (Rate Lock) premiums broken out


Reviewer Comment (2025-04-23): Trailing docs did not contain verification of insurance premium for subject property.  The annual premium referenced is annualized for four locations.


Seller Comment (2025-04-22): (Rate Lock) premiums
 05/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9083330 [Redact] [Redact] 33245349     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact]  OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-04-23): RCE provided. Exception cleared.


Seller Comment (2025-04-22): (Rate Lock) coverage
 04/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9083340 [Redact] [Redact] 32998173     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-04-10): (Rate Lock) Delivered [Redact]via [Redact] [Redact]
 04/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083340 [Redact] [Redact] 33194647     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Employer Identification Number (EIN) not provided   The file was missing Employer Identification Number (EIN)       Reviewer Comment (2025-04-23): EIN verification provided. Exception cleared.


Seller Comment (2025-04-22): (Rate Lock) tax id
 04/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083340 [Redact] [Redact] 33194654     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided   The file was missing Guarantor Agreement       Reviewer Comment (2025-05-16): Received Guarantor Agreement. Exception Cleared.


Seller Comment (2025-05-15): (Rate Lock) guar agreemnt
 05/16/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083340 [Redact] [Redact] 33198260     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   The certificate of good standing is missing in the file.       Reviewer Comment (2025-04-23): Doc provided. Exception cleared.


Seller Comment (2025-04-22): (Rate Lock) [Redact] good standing


Reviewer Comment (2025-04-10): Certificate of good standing provided for different company. Exception Remains.


Seller Comment (2025-04-10): (Rate Lock) Good Standing
 04/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083370 [Redact] [Redact] 32998905     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-15): Waived on Rate Lock: Collateral cleared by Custodian
 04/15/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083370 [Redact] [Redact] 33241932     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Employer Identification Number (EIN) not provided           Reviewer Comment (2025-04-23): EIN verification provided. Exception cleared.


Seller Comment (2025-04-22): (Rate Lock) tax id
 04/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083370 [Redact] [Redact] 33241933     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided           Reviewer Comment (2025-05-15): Received guarantor agreement. Exception Cleared.


Seller Comment (2025-05-15): (Rate Lock) guar agrmnt
 05/15/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083370 [Redact] [Redact] 33242106     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard Policy coverage shortfall of [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current  coverage amount.       Reviewer Comment (2025-04-18): Received Replacement Cost Estimator. Exception Cleared.


Seller Comment (2025-04-17): (Rate Lock) coverages


Seller Comment (2025-04-17): (Rate Lock) coverage amounts
 04/18/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9083370 [Redact] [Redact] 33245352     Credit Insurance Insurance Documentation Insurance Hazard Insurance Error: Subject hazard insurance premium is missing from evidence of insurance.   Unable to determine the premium for the subject. Blanket policy in file includes 5 properties, but the premium is not broken down.       Reviewer Comment (2025-04-18): Received letter from Insurance Company. Exception Cleared.


Seller Comment (2025-04-17): (Rate Lock) premiiums


Seller Comment (2025-04-17): (Rate Lock) premium
 04/18/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9075303 [Redact]   33016125     Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Provide a copy of the credit report obtained at or prior to consummation for the guarantor. The only credit report in file for the guarantor was dated post-closing.       Reviewer Comment (2025-03-13): Received prior to consummation credit report. Exception Cleared.


Seller Comment (2025-03-12): Updated credit report uplaoded
 03/13/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Rate/Term   D A D A     A A   N/A No
[Redact] 9075304 [Redact]   33030995     Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Provide a copy of the credit report obtained at or prior to consummation for the guarantor.  The only credit report in file for the guarantor was dated post-closing.       Reviewer Comment (2025-03-14): Received prior to consummation credit report. Exception Cleared.


Seller Comment (2025-03-13): Credit report uploaded
 03/14/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9084421 [Redact] [Redact] 33006816     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-12): Waived on Rate Lock: Collateral cleared by Custodian
 05/12/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9084421 [Redact] [Redact] 33424043     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             05/07/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9097094 [Redact] [Redact] 33066014     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-20): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-19): (Rate Lock) Delivered [Redact]via [Redact] [Redact]
 05/20/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9099376 [Redact] [Redact] 33085664     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-24): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-24): NOTE TRACKING DELIVERED [Redact]
 06/24/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9099376 [Redact] [Redact] 33677063     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification of appraisal was delivered to borrower was not provided             06/18/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9013614 [Redact]   33088930     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   DSCR Calculation provided used [Redact] PITI and the actual PITI is [Redact]. Need updated DSCR Calculation Worksheet.       Reviewer Comment (2025-02-19): Corrected DSCR calculation worksheet received. Exception cleared


Buyer Comment (2025-02-19): 1008
 02/19/2025     1 C A C A C A C A D A   [Redact] Investment Refinance - Cash-out - Other   D B D B A A A A   N/A No
[Redact] 9013614 [Redact]   33088931     Credit Credit Miscellaneous Guideline Credit Exception:   The borrower has a credit freeze in place for Equifax. Please provide a credit report for borrower [Redact] (within 90 days prior to Note Date - [Redact]) that reflects the consumer requested security freeze has been removed for Equifax. A new report must be obtained to reflect current updated information for evaluation per DSCR Program [Redact] guidelines. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has owned the subject property for at least 5 years.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 92 vs 3 [Redact],Aggregator

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-03-04): Investor accepts and waives with compensating factors.


Buyer Comment (2025-03-02): Exception from [Redact]


Reviewer Comment (2025-02-20): Credit report provided is dated post closing. Report must have been pulled prior to the Note date.


Buyer Comment (2025-02-19): Credit Report
     03/04/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Cash-out - Other   D B D B A A A A   N/A No
[Redact] 9001590 [Redact]   33088933     Credit Loan Package Documentation Application / Processing Insurance Missing Document: Flood Certificate not provided   Flood Certificate is missing in file.       Reviewer Comment (2025-02-20): Received Flood Cert Exception cleared


Buyer Comment (2025-02-20): Flood Cert
 02/20/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9001590 [Redact]   33088934     Credit Insurance Insurance Documentation Insurance Rent loss insurance is required on all properties and there is no evidence of this insurance in the file.   Required rent loss insurance covering a minimum of 6 months for the subject property.       Reviewer Comment (2025-02-27): Received  Updated DSCR calculation and 1003.  Exception Cleared


Buyer Comment (2025-02-27): 1003


Buyer Comment (2025-02-27): 1008 with DSCR calculation


Reviewer Comment (2025-02-26): Received updated CD, still require updated 1003 and DSCR calculation with change in HOI amount. Exception Remains


Buyer Comment (2025-02-25): Final CD


Reviewer Comment (2025-02-24): Noted. Received HOI for [Redact] - [Redact] with the change in annual premium. Updated Final 1003, PCCD and updated DSCR calculation worksheet is required that reflects the correct monthly HOI amount. Exception remains


Buyer Comment (2025-02-21): HOI
 02/27/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9001590 [Redact]   33088935     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   DSCR calculation worksheet is missing in file, 1008 reflects DSCR calculation which is incorrect.       Reviewer Comment (2025-02-20): Received updated 1008 with correct PITIA. 1st unit Rent amount considered [Redact] as previous lease with rent amount of [Redact] was terminated on [Redact] and new lease started from [Redact]. Exception Cleared


Buyer Comment (2025-02-20): 1008


Buyer Comment (2025-02-20): Calculation
 02/20/2025     1 C A C A C A C A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9001590 [Redact]   33088936     Credit Credit Miscellaneous Guideline Credit Exception:   Missing evidence of 2 months rent deposits for the [Redact] lease. Copies of various checks noted but no deposits present.       Reviewer Comment (2025-03-04): Received 2 Months bank statement. [Redact] noted Deposit of [Redact] is [Redact] Rent + [Redact] pro rated Rent + Security deposit as new lease start from [Redact]. Exception Cleared


Buyer Comment (2025-03-03): Statement


Buyer Comment (2025-03-03): Bank statement


Buyer Comment (2025-03-03): LOX
 03/04/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9099873 [Redact] [Redact] 33090058     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-22): Waived on Rate Lock: Collateral cleared by Custodian
 05/22/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9099873 [Redact] [Redact] 33474024     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing a copy of the Hazard Insurance for the REO property.       Reviewer Comment (2025-05-22): HOI verification provided


Seller Comment (2025-05-21): Hazard
 05/22/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9099873 [Redact] [Redact] 33474074     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Extension Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Extension Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] on Final Closing Disclosure dated [Redact]. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-05-29): [Redact] received a valid COC.


Seller Comment (2025-05-28): COCs
 05/29/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C A C B A A Non QM Non QM Yes
[Redact] 9099873 [Redact] [Redact] 33474075     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Endorsement Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Title - Endorsement Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] on Final Closing Disclosure dated [Redact]. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-06-12): [Redact] received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD.


Seller Comment (2025-06-11): Tracking shows delivery today


Reviewer Comment (2025-06-10): [Redact] received LOE to borrower, Copy of Refund Check, proof of mailing, Corrected CD. [Redact] tracking indicates label has been created, but package has not been shipped. Proof of mailing required to cure.


Seller Comment (2025-06-09): PCCD with cure


Reviewer Comment (2025-05-29): [Redact] received change circumstance. The inclusion of a fee within Section C of the most recent LE provided to the consumer carries the primary basis for consideration of whether the consumer was permitted to shop.  As the title fee was included in section B of the most recent LE, the consumer was not allowed to shop and a cure is required.  Provide Corrected CD,  LOE to borrower, proof of mailing and copy of refund check.


Seller Comment (2025-05-28): COC
   06/12/2025   2 C B C B C B C B C B   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C A C B A A Non QM Non QM Yes
[Redact] 9099873 [Redact] [Redact] 33476188     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided   The file is missing a copy of the required 1008.       Reviewer Comment (2025-05-20): Received 1008. Exception Cleared.


Seller Comment (2025-05-20): 1008
 05/20/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9100005 [Redact] [Redact] 33091257     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian
 06/11/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   C A A A C A A A Non QM Non QM No
[Redact] 9100005 [Redact] [Redact] 33542572     Compliance Compliance Federal Compliance TRID Defect TRID Initial Loan Estimate Timing Electronically Provided TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application. File is missing a copy of the LE provided within 3 business days of the application date of [Redact].       Reviewer Comment (2025-06-04): [Redact] received LE dated [Redact]


Seller Comment (2025-06-03): Attached
 06/04/2025     1 C A C A C A C A C A   [Redact] Second Home Purchase   C A A A C A A A Non QM Non QM No
[Redact] 9100005 [Redact] [Redact] 33542574     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Verification Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-30): Sufficient Cure Provided At Closing
   05/30/2025   1 A A A A A A A A A A   [Redact] Second Home Purchase Final CD evidences Cure C A A A C A A A Non QM Non QM Yes
[Redact] 9100005 [Redact] [Redact] 33542576     Compliance Compliance Federal Compliance TRID ECOA Appraisal Disclosure - ECOA Timing ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date. File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date.  Note: File is missing a copy of the LE provided within 3 business days of the application date of [Redact].       Reviewer Comment (2025-06-04): [Redact] received LE dated [Redact]


Seller Comment (2025-06-03): Attached
 06/04/2025     1 B A B A B A B A B A   [Redact] Second Home Purchase   C A A A C A A A Non QM Non QM No
[Redact] 9100011 [Redact] [Redact] 33091761     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-09): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9100011 [Redact] [Redact] 33553118     Credit System General System Flood Certificate Subject Address does not match Note address.   Note reflects City as [Redact] and Flood Cert reflects [Redact].       Reviewer Comment (2025-06-04): Revised flood cert provided


Seller Comment (2025-06-03): flood
 06/04/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9100011 [Redact] [Redact] 33555158     Credit Loan Package Documentation Closing / Title Missing Document  Missing Document: Rider - Other not provided   The Licensee Info or Affidavit Rider in file is not executed.  Provide a copy of the fully executed Rider.       Reviewer Comment (2025-06-18): Licensee information indicated within the security instrument and the rider is not required to be executed unless it was not previously identified.


Seller Comment (2025-06-17): Per the title company page 21 of 22 of the mortgage serves as the same as the licensee info or affidavit rider
 06/18/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9100044 [Redact] [Redact] 33092648     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): (Rate Lock) [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9100044 [Redact] [Redact] 33709107     Credit Credit Miscellaneous Guideline Credit Exception:   Title shows the property is owned prior to closing by an LLC that is NOT majority-owned or controlled by the borrower.  Client exception approval made; however the file is missing a copy of the most recent exception approval.  The exception approval in file is dated [Redact] and required a minimum DSCR of 1.20 and the calculated DSCR is 1.18.  Note: client updated the exception approval on [Redact] and it appears the 1.18 DSCR is acceptable.  Provide a copy of the updated exception approval. The qualifying DSCR on the loan is greater than the guideline minimum.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 DSCR of 1.18 where 1.0 is required [Redact],Aggregator

[Redact]

[Redact]		 Reviewer Comment (2025-07-23): Client elected to waive the condition with the following Compensating Factors:
DSCR of 1.18 where 1.0 is required
Credit Depth: 19 years mortgage history 27 years trade history paid as agreed.
Property Management Experience: Landlord history dating back to 2004


Seller Comment (2025-07-22): (Rate Lock) [Redact] approved exception from [Redact]


Reviewer Comment (2025-07-18): Unable to locate exception approval dated [Redact] reflecting DSCR 1.18 is acceptable with minimum of 1.0. Please resend document if available.


Seller Comment (2025-07-16): See page 28 in [Redact] that shows the exception approval for the DSCR 1.18.
     07/23/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9101486 [Redact] [Redact] 33097103     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-02): [Redact] - Delivered [Redact]
 05/05/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9101486 [Redact] [Redact] 33368851     Credit Credit Miscellaneous Guideline Credit Exception:   The project is non-warrantable due to the flood insurance 78% coverage for the entire project.  Client exception approval in file.  However, the exception approval required 18 months PITIA reserve to be verified.  Currently there are 11.79 months reserves verified.  Note: the file was missing proof of the EMD of [Redact] and the paid invoices for the [Redact] closing costs paid prior to closing.  With the [Redact], the reserves are still insufficient, so additional assets are required. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: [Redact], 17 months where 6 months is required (2X) Originator Pre-Close,Aggregator,[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-06-04): Client elected to waive the condition with the following compensating factors:
LTV 70% where 80% is maximum
Reserves: [Redact], 17 months where 6 months is required (2X)
Credit Depth: 6 years mortgage history, 10 years trade history paid as agreed.
FICO: 792 where 700 is minimum


Reviewer Comment (2025-06-04): Proof of EMD provided; reserves updated to 17.44 months which still do not meet the required tolerances on the exception approval of 18 months.  The reserves are short [Redact].  Condition remains


Seller Comment (2025-06-03): EMD verification uploaded. Please review and confirm months of reserves verified. Thank you.


Reviewer Comment (2025-05-15): Per the 1003 in file, assets from savings account xx[Redact] of [Redact] were used to qualify.  The statement in file ending [Redact] verified [Redact].  Per the final CD, [Redact] was required to close ([Redact] cash to close + [Redact] EMD + [Redact] POC fees).  Based on the docs in file, there were reserves of [Redact] or 11.79 months.  The EMD and POC fees were not verified with the docs in file.  Proof of the EMD of [Redact] and paid invoices for the [Redact] POC fees would increase the number of months reserves to 17.76, which are still short the required 18 months.  Note: the bank statements in file verified an additional checking account xx[Redact] that was not used to qualify since it was not disclosed on the final 1003.  The condition is valid and remains open


Seller Comment (2025-05-14): The exception was submitted with 106,287 in assets. The exception was approved based on how it was submitted so there should have been 18 months of reserves after closing costs. Please advise.


Reviewer Comment (2025-05-08): The condition is valid.  The client's exception approval (doc id 0197) contains tolerances that must be met in order for the exception to be downgraded and waived.  The exception approval requires 18 months reserves.  Condition remains open


Seller Comment (2025-05-07): doc id 0252 states 70% LTV exception with no additional reserves required. Please advise.


Reviewer Comment (2025-05-05): The client exception approval provided in the initial file (doc id 0197) identified 18 months PITIA reserves are required.  Condition is valid and remains open


Seller Comment (2025-05-02): Please provide copy of client exception approval showing 18 months PITIA required.
     06/04/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9110558 [Redact] [Redact] 33138433     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-12): Waived on Rate Lock: Collateral cleared by Custodian
 05/12/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9111616 [Redact] [Redact] 33143888     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-04-29): Waived on Rate Lock: Collateral cleared by Custodian
 04/29/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   A A A A A A A A Non QM Non QM No
[Redact] 9111616 [Redact] [Redact] 33354844     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-04-25): Sufficient Cure Provided At Closing
   04/25/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9111616 [Redact] [Redact] 33354845     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Second Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-04-25): Sufficient Cure Provided At Closing
   04/25/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9113668 [Redact] [Redact] 33150599     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-06): Waived on Rate Lock: Collateral cleared by Custodian
 05/06/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9065720 [Redact]   33153322     Compliance Compliance State Compliance State Late Charge Note Error: Note late charge percentage exceeds maximum per state           Buyer Comment (2025-03-04): Acknowledged non material
     03/04/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9065720 [Redact]   33153323     Compliance Loan Package Documentation Closing / Title Loan Package Documentation Note Error: Note grace period days less than minimum per state           Buyer Comment (2025-03-04): Acknowledged non material
     03/04/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9115092 [Redact] [Redact] 33154767     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-09): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9115092 [Redact] [Redact] 33563603     Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   The hazard insurance policy is missing. The lender used a premium amount of [Redact], while the provided insurance policy indicates a premium of [Redact].       Reviewer Comment (2025-06-16): Clarification provided regarding the HOI premium.  Updated policy with sufficient coverage verified a lower premium.


Seller Comment (2025-06-16): Closing Team response: The attached is what was used on the CD and on the UW approval, however it looks like there was a different one uploaded after the CD was issued and assume the closer was not made aware.
The policy numbers are the same, but coverage was updated.
 06/16/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9115189 [Redact] [Redact] 33156112     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-02): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-28): Shipped [Redact] tracking [Redact]
 06/02/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9115189 [Redact] [Redact] 33514021     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Desk Review Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Sufficient cure was provided at closing.       Reviewer Comment (2025-05-23): Sufficient Cure Provided At Closing
   05/23/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9198443 [Redact] [Redact] 33183827     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9118352 [Redact] [Redact] 33185264     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-19): Waived on Rate Lock: Collateral cleared by Custodian
 05/19/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9118352 [Redact] [Redact] 33456552     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Property Inspection Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Property Inspection Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-05-14): Sufficient Cure Provided At Closing
   05/14/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9118352 [Redact] [Redact] 33469509     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Note Addendum - Interest Only not provided   The file is missing the Interest Only Addendum to the Note.       Reviewer Comment (2025-05-20): I/O addendum to the Note provided


Seller Comment (2025-05-19): (Rate Lock) Interest only addendum
 05/20/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9118367 [Redact] [Redact] 33186543     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-13): Waived on Rate Lock: Collateral cleared by Custodian
 05/13/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9118368 [Redact] [Redact] 33186555     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-29): Waived on Rate Lock: Collateral cleared by Custodian
 05/29/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9118368 [Redact] [Redact] 33508625     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             05/23/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9119170 [Redact] [Redact] 33193711     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-02): Waived on Rate Lock: Collateral cleared by Custodian
 06/02/2025     1 A A A A A A A A A A   [Redact] Second Home Refinance - Rate/Term   C A C A A A A A Non QM Non QM No
[Redact] 9119170 [Redact] [Redact] 33533863     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided           Reviewer Comment (2025-06-06): Received Loan Underwriting and Transmittal Summary (1008). Exception Cleared.


Seller Comment (2025-06-05): (Rate Lock) Final 1008 attached
 06/06/2025     1 C A C A C A C A C A   [Redact] Second Home Refinance - Rate/Term   C A C A A A A A Non QM Non QM No
[Redact] 9119486 [Redact] [Redact] 33195015     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-12): Waived on Rate Lock: Collateral cleared by Custodian
 05/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9119486 [Redact] [Redact] 33400930     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___. Client exception approval for .80 DSCR ratio where 1.0 is required.  The file is missing a copy of the fully executed client exception approval.  Once received and reviewed the condition will be downgraded and waived. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.		 LTV 56 is 24 below program maximum (80).

Post-close assets [Redact] (7.8x; subject [Redact]x6= [Redact]) are easily liquid (stock) borrowers can support negative cash flow.		 [Redact],Originator Pre-Close,Aggregator

Originator Pre-Close,Aggregator,[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-09): Client elected to waive the condition with the following Compensating Factors:
**LTV 56 is 24 below program maximum (80).
**Post-close assets [Redact] (7.8x; subject [Redact]x6= [Redact]) are easily liquid (stock) borrowers can support negative cash flow.
**Extensive mortgage history (17 years) including history of managing multiple mortgages concurrently all paid as agreed.


Seller Comment (2025-05-08): Approval


Reviewer Comment (2025-05-07): Provided Lender Exception form is not executed. Required signed Lender Exception form to clear this condition. Exception Remains.


Seller Comment (2025-05-06): Investor Approval
     05/09/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9120553 [Redact] [Redact] 33204299     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-30): (Rate Lock) [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9198441 [Redact] [Redact] 33204582     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-11): Note tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9198441 [Redact] [Redact] 33574396     Compliance Compliance Federal Compliance TRID Defect TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Insufficient or no cure was provided to the borrower. 10% tolerance was exceeded by [Redact] due to increase of Recording Fees.  No valid COC provided, nor evidence of cure in file. Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.       Reviewer Comment (2025-06-12): [Redact] received PCCD, LOE, proof of mailing & copy of refund check.


Seller Comment (2025-06-11): Check Copy, PCCD, LOX and Shipping Label
   06/12/2025   2 C B C B C B C B C B   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C A C B A A Non QM Non QM Yes
[Redact] 9198441 [Redact] [Redact] 33576351     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Issue:  Refinance seasoning requirements not met   Per the guidelines, a minimum of 6 months must have elapsed since the most recent mortgage transaction on the subject property (either the original purchase transaction or subsequent refinance). This timeframe is measured from the note date of the previous transaction to the note date of the current transaction.  The mortgage paid off was dated [Redact] which is less than 6 months from the Note date of the subject of [Redact].       Reviewer Comment (2025-06-12): Documentation provided verifying the initial lien containing 4 parcels and a revision of the original note separating the parcels out was received.  The original note was dated > 6 months from the subject loan.


Seller Comment (2025-06-11): Original DOT for [Redact]


Reviewer Comment (2025-06-10): Lender rebuttal reviewed.  Provide a copy of the original Deed of Trust for the [Redact] original loan in [Redact] including all 4 parcels.  The original Note from [Redact] in file did not identify the legal description and proof to support the loan was modified to 4 separate parcels is required.  Condition remains


Seller Comment (2025-06-09): The existing lien that was done [Redact] and paid off was only modified from the original recorded lien, which was seasoned over 6 months, so that the borrowers 4 parcels that were originally all on one deed could be separated out and subdivided allowing the new mortgage to be securitized only to two out of the original 4 parcels.  The first payoff of the original [Redact] lien was for [Redact] with the remaining [Redact] balance still owed.  Since cross collateralization of liens or blanket mortgages could not remain in place with the subject property, the parcels were separately deeded with a revision only of the pre-existing note. Please Review
 06/12/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9120625 [Redact] [Redact] 33205072     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-04): Waived on Rate Lock: Collateral cleared by Custodian
 07/04/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9121992 [Redact] [Redact] 33210866     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-02): (Rate Lock) [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9121992 [Redact] [Redact] 33528353     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Lender Exception(s) not provided   Missing fully executed Exception approval form from the client       Reviewer Comment (2025-06-02): Fully executed exception approval provided


Seller Comment (2025-06-02): Attached the Exception Approval from [Redact].
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9121992 [Redact] [Redact] 33528359     Credit Credit Miscellaneous Guideline Credit Exception:   Exception requested to vesting in a layered entity. Client exception made; however fully executed exception approval form was missing Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 [Redact] post-close mutual fund reserves (461 months or 153x). [Redact],Originator Pre-Close,Aggregator

[Redact]		 Reviewer Comment (2025-06-02): Client elected to waive the condition with the following Compensating Factors:
70 LTV is 5 below max (75).
[Redact] post-close mutual fund reserves (461 months or 153x).
Credit depth; 18-year mtg history and 19-year trade history paid as agreed.


Seller Comment (2025-06-02): Attached the Exception Approval from [Redact].
     06/02/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9121997 [Redact] [Redact] 33211355     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-04): Waived on Rate Lock: Collateral cleared by Custodian
 06/04/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9121997 [Redact] [Redact] 33542912     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-05-30): Client elected to waive the condition on the Non-QM 1st lien
     05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9121998 [Redact] [Redact] 33211426     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-12): Waived on Rate Lock: Collateral cleared by Custodian
 05/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9121998 [Redact] [Redact] 33421008     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___. Client exception provided for calculated Debt Service Coverage Ratio (Subject DSCR) of 0.92 does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) 1.00. The file is missing the fully executed Client Exception approval to downgrade and waive the condition. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.

Borrower's Experience/Track Record		 **Post-close reserves [Redact] (15.6x; subject [Redact]x6= [Redact]).

**Experienced investors (5+ years).		 [Redact],Originator Pre-Close,Aggregator

[Redact]

[Redact]

Originator Pre-Close,Aggregator		 Reviewer Comment (2025-05-15): Client elected to waive the condition with the following Compensating Factors:
**Experienced investors (5+ years).
**Post-close reserves [Redact] (15.6x; subject [Redact]x6= [Redact]).
**Extensive credit depth including mortgage history 23+ years all paid as agreed.


Seller Comment (2025-05-14): Exception attached


Reviewer Comment (2025-05-12): Required Lender Exceptions for to clear this condition. Exception Remains.


Seller Comment (2025-05-09): Exception approval attached
     05/15/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9122004 [Redact] [Redact] 33214474     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-06): Waived on Rate Lock: Collateral cleared by Custodian
 06/06/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term   A A A A A A A A Non QM Non QM No
[Redact] 9122004 [Redact] [Redact] 33527931     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-28): Sufficient Cure Provided At Closing
   05/28/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9122004 [Redact] [Redact] 33527932     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-28): Sufficient Cure Provided At Closing
   05/28/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9122767 [Redact] [Redact] 33224649     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-12): Waived on Rate Lock: Collateral cleared by Custodian
 05/12/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9123860 [Redact] [Redact] 33230723     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9123860 [Redact] [Redact] 33677033     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided   Loan Underwriting and Transmittal Summary (1008) not provided.       Reviewer Comment (2025-06-20): 1008 provided


Seller Comment (2025-06-20): (Rate Lock) 1008
 06/20/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9099687 [Redact]   33282506     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Calculated PITIA months reserves of 4.74 is less than Guideline PITIA months reserves of 6.00.       Reviewer Comment (2025-04-18): Additional assets provided and reserve requirement was met


Seller Comment (2025-04-17): Updated statements uploaded
 04/18/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9099687 [Redact]   33306515     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Additional bank statement provided; however only 1 month was provided and the guidelines require 2 months.  The statement in file had an end date of [Redact].  Provide a copy of the statement ending [Redact].       Reviewer Comment (2025-05-01): Additional statements provided


Seller Comment (2025-05-01): 2 months bank statements uploaded


Seller Comment (2025-04-24): Bank statements uploaded


Reviewer Comment (2025-04-22): An updated statement with an end date of [Redact] was provided.  This is post-close and cannot be used.  Provide a copy of the statement covering the period of [Redact] to [Redact].  Condition remains


Seller Comment (2025-04-22): Updated bank statements uploaded


Reviewer Comment (2025-04-21): Required bank statement for acct ending with #[Redact] to cover reserve requirement. Exception Remains.


Seller Comment (2025-04-21): 2 months consecutive bank statements provided for [Redact] ending with acc# [Redact] covers liquidity for cash to close. Please clear this
 05/01/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9125394 [Redact] [Redact] 33245053     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-12): (Rate Lock) Delivered [Redact]via [Redact] [Redact]
 06/13/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9125394 [Redact] [Redact] 33628711     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The Title Policy Amount of [Redact] is less than the note amount of [Redact] based on the Commitment in file. Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             06/11/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9125394 [Redact] [Redact] 33628740     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             06/11/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9126867 [Redact] [Redact] 33274363     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-02): [Redact]
 06/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9126867 [Redact] [Redact] 33512014     Credit Insurance Insurance Documentation Insurance Missing Document: Hazard Dec Page not provided   Hazard Insurance Declaration Page not provided.       Reviewer Comment (2025-05-28): Received Hazard Insurance. Exception Cleared.


Seller Comment (2025-05-27): Dec Page
 05/28/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9126871 [Redact] [Redact] 33275018     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9126871 [Redact] [Redact] 33579572     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing the following docs for the departure residence in order to exclude the debt from the DTI:  1.  Either the listing agreement for properties listed for sale or a letter of intent from the Applicant confirming they will list the property for sale within 90 days of the note date.  2. Copy of the Note/Statement for the bridge loan. 3. Copy of the HUD/Settlement statement for the Bridge loan to confirm the net proceeds.       Reviewer Comment (2025-06-18): Documentation to allow the departure residence PITIA to be excluded has been provided


Seller Comment (2025-06-17): See attached


Reviewer Comment (2025-06-12): CD and Note from Bridge loan provided.  The file is still missing either the listing agreement for properties listed for sale or a letter of intent from the Applicant confirming they will list the property for sale within 90 days of the note date in order to exclude the PITIA from the DTI.  Condition remains.


Reviewer Comment (2025-06-12): EXCEPTION HISTORY - Exception Explanation was updated on [Redact] PRIOR Exception Explanation: Other, Other, Statement


Seller Comment (2025-06-11): See attached Note


Reviewer Comment (2025-06-11): Required Copy of the HUD/Closing Settlement statement or Copy of the Note/Statement for the bridge loan to clear this condition. Exception Remains.


Seller Comment (2025-06-10): See attached
 06/18/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9126871 [Redact] [Redact] 33580215     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Investor qualifying total debt ratio discrepancy.   The file is missing either the listing agreement for property listed for sale or a letter of intent from the Applicant confirming they will list the property for sale within 90 days of the note date.       Reviewer Comment (2025-06-18): Documentation to allow the departure residence PITIA to be excluded has been provided


Seller Comment (2025-06-17): attached


Reviewer Comment (2025-06-10): Required final closing statement or LOX to clear this condition. Exception Remains.


Seller Comment (2025-06-10): See attached
 06/18/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9126871 [Redact] [Redact] 33580225     Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. Condition will be cleared when all ATR/Guideline conditions are cleared       Reviewer Comment (2025-06-18): Documentation to allow the departure residence PITIA to be excluded has been provided
 06/18/2025     1 B A C A B A C A B A   [Redact] Primary Purchase Lender to provide updated ATR/QM Loan Designation C A C A C A A A Non QM Non QM Yes
[Redact] 9126871 [Redact] [Redact] 33580226     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. Condition will be cleared when all ATR/Guideline conditions are cleared       Reviewer Comment (2025-06-18): Documentation to allow the departure residence PITIA to be excluded has been provided
 06/18/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9126871 [Redact] [Redact] 33580227     Compliance Compliance Federal Compliance ATR/QM Defect General ATR Provision Investor and Non QM DTIs match and both significantly exceed Guidelines Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 57.77430% significantly exceeds the guideline maximum of 50.00%. (DTI Exception requires compelling compensating factors to consider regrading to EV2-B.) The file is missing either the listing agreement for property listed for sale or a letter of intent from the Applicant confirming they will list the property for sale within 90 days of the note date.       Reviewer Comment (2025-06-18): Documentation to allow the departure residence PITIA to be excluded has been provided


Seller Comment (2025-06-17): attached
 06/18/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9126871 [Redact] [Redact] 33585345     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-06-16): Lender response identified to remove assets from qualification


Seller Comment (2025-06-13): Can you please remove those funds from the assets? Total funds without that account equal [Redact] Funds needed for close [Redact] + reserves [Redact] (this is comprised of 6 months PITIA for the subject property and 18 months PITIA for the departing primary residence) =[Redact]. This leaves [Redact] remaining funds leftover without the [Redact] xxx[Redact] account.
 06/16/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9128205 [Redact] [Redact] 33281885     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-01): Waived on Rate Lock: Collateral cleared by Custodian
 05/01/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   D B D B A A A A Non QM Non QM No
[Redact] 9128205 [Redact] [Redact] 33353554     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   Provide a copy of the final title policy or an addendum to the report verifying title insurance of at least the loan amount.             04/28/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   D B D B A A A A Non QM Non QM No
[Redact] 9128205 [Redact] [Redact] 33362068     Credit Loan Package Documentation Closing / Title Missing Document  Missing Document: Security Instrument - Subject Lien not provided   The file is missing a copy of the Deed of Trust executed at closing.  The loan contained a revised Note and final CD that increased the rate.  The Note is dated [Redact] and a copy of the re-executed Deed of Trust and riders on [Redact] was not provided.       Reviewer Comment (2025-06-04): Corrected Security Instrument provided


Seller Comment (2025-06-03): [Redact] The closing package from [Redact] was the incorrect closing package due to an invalid product and rate change. Please see attached correct closing package that was signed on [Redact], Lock confirmation and Change of circumstance.


Reviewer Comment (2025-04-29): An additional copy of the Deed of Trust executed and notarized on [Redact] was provided.  The loan did not close until [Redact], as per the updated Note in file where the interest rate was changed.  Condition remains


Seller Comment (2025-04-29): Please see attached
 06/04/2025     1 D A D A D A D A D A   [Redact] Primary Purchase   D B D B A A A A Non QM Non QM No
[Redact] 9128205 [Redact] [Redact] 33362076     Compliance Compliance Federal Compliance TRID TRID Seller Closing Disclosure Fees seller paid fees do not match Consumer's Final CD TILA-RESPA Integrated Disclosure: the Seller's final CD total seller paid fee amounts do not match the values used for compliance testing.         Reviewer Comment (2025-06-04): Corrected final CD provided
 06/04/2025     1 A A A A A A A A A A   [Redact] Primary Purchase Letter of Explanation & Corrected Closing Disclosure D B D B A A A A Non QM Non QM Yes
[Redact] 9128206 [Redact] [Redact] 33281886     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-14): Waived on Rate Lock: Collateral cleared by Custodian
 05/14/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9128206 [Redact] [Redact] 33412082     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-05-06): Client elected to waive the condition on the Non-QM 1st lien
     05/06/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9128206 [Redact] [Redact] 33412161     Compliance Compliance State Compliance State Defect [Redact] [Redact] [Redact] Predatory Lending Database Program ([Redact]) - Certificate of Compliance or Exemption not attached to mortgage for recording. Certificate of Compliance or Exemption not attached to mortgage for recording.       Reviewer Comment (2025-06-23): Cert of Compliance provided


Seller Comment (2025-06-20): [Redact]: Please see the attached [Redact] Pred Cert
 06/23/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9128290 [Redact] [Redact] 33282867     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-14): Waived on Rate Lock: Collateral cleared by Custodian
 05/14/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9115014 [Redact]   33313609     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   File is missing authorization to obtain consumer and credit reports and release document       Reviewer Comment (2025-04-29): Received Authorization to obtain consumer and credit reports. Exception Cleared.


Seller Comment (2025-04-28): Credit authorizationform uploaded
 04/29/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9129363 [Redact] [Redact] 33289106     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-12): Waived on Rate Lock: Collateral cleared by Custodian
 05/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9131159 [Redact] [Redact] 33315866     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9131294 [Redact] [Redact] 33316957     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-28): (Rate Lock) [Redact]
 06/10/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9131308 [Redact] [Redact] 33318006     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-28): (Rate Lock) [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A B B B A A Non QM Non QM No
[Redact] 9131308 [Redact] [Redact] 34031254     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-07-25): Client elected to waive the condition on the Non-QM 1st lien
     07/25/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A B B B A A Non QM Non QM Yes
[Redact] 9131308 [Redact] [Redact] 34109107     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.   Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least [Redact].

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.		 - Job stability: 17 years in industry [Redact],Aggregator

[Redact]

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-08-07): Client elected to waive the condition with the following compensating factors:
- [Redact] REO equity
- Job stability: 17 years in industry
- Credit depth: 15-year trade and 12-year mtg history paid as agreed.


Reviewer Comment (2025-08-06): Per the final 1003, the [Redact] account xx[Redact] was not identified on the final 1003 as being used to qualify, so it was not included in the calculations.  Provide a revised 1003 including this account and the condition will be cleared.  Condition remains


Seller Comment (2025-08-06): Borrower has [Redact] in [Redact] #[Redact] as of [Redact] located on page 644 in [Redact], [Redact] # [Redact] [Redact] as of [Redact] EMD cleared [Redact] #[Redact] on [Redact] located on page 613in [Redact], [Redact] #[Redact] [Redact] as of [Redact] located on page 661 in [Redact].  This gives the borrower [Redact] in verified assets.  Borrowers CTC was [Redact]; this leaves the borrower with [Redact] for reserves which is enough to cover the 9 months requirement.  Please cancel.
     08/07/2025 2   B   B   B   B   B   [Redact] Primary Purchase   B B A B B B A A Non QM Non QM No
[Redact] 9131467 [Redact] [Redact] 33318613     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9131467 [Redact] [Redact] 33710216     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-06-20): Client elected to waive the condition on the Non-QM 1st lien
     06/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9131467 [Redact] [Redact] 33710219     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The  Appraisal Fee was disclosed to the borrower on the LE as [Redact], however the final CD shows the fee as [Redact] There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-19): Sufficient Cure Provided At Closing
   06/19/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9131467 [Redact] [Redact] 33710220     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Second Appraisal Fee Amount wasn't doisclosed to the borrower on the LE, however the final CD shows the fee as [Redact]. There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-19): Sufficient Cure Provided At Closing
   06/19/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9131474 [Redact] [Redact] 33318616     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9131474 [Redact] [Redact] 33528252     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing documentation to verify the PITIA for the REO.       Reviewer Comment (2025-06-05): Revised 1003 and 1008 provided removing the property not owned by the borrower from the REO.


Seller Comment (2025-06-05): [Redact] - [Redact]: Please see the attached 1008. AUS findings cannot be provided due to a manual underwrite being completed for this file.


Reviewer Comment (2025-06-03): Required updated AUS and 1008.  Exception Remains.


Seller Comment (2025-06-03): [Redact] - [Redact]: Please see the attached loan application.


Reviewer Comment (2025-05-30): The final 1003 identified expenses of [Redact] per month for this property.  Lender provided documentation stating the borrower does not own the property.  If the borrower does not own the property, it should not be disclosed on the schedule of REO.  Provide either a revised 1003 removing the property or documentation to support the [Redact] expenses used to qualify.  Condition remains


Seller Comment (2025-05-30): [Redact] - [Redact]: Please see the attached property detail confirming the borrower does not personally own the property located at [Redact].
 06/05/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9131474 [Redact] [Redact] 33528267     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. Provide a copy of the final title policy or an addendum to the report verifying title insurance of at least the loan amount.             05/28/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9131475 [Redact] [Redact] 33318642     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-29): Waived on Rate Lock: Collateral cleared by Custodian
 05/29/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9131475 [Redact] [Redact] 33514232     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             05/27/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9131473 [Redact] [Redact] 33318660     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-12): (Rate Lock) Note Tracking [Redact]
 06/13/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   A A A A A A A A Non QM Non QM No
[Redact] 9131473 [Redact] [Redact] 33573769     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Review Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Appraisal Review Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-06-04): Sufficient Cure Provided At Closing
   06/04/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9131488 [Redact] [Redact] 33319124     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term   A A A A A A A A Non QM Non QM No
[Redact] 9131484 [Redact] [Redact] 33319214     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note tracking [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9131495 [Redact] [Redact] 33319736     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-10): Note tracking [Redact]


Seller Comment (2025-06-04): Asset Docs


Seller Comment (2025-06-04): Income Docs
 06/16/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   D B D A C B A A Non QM Non QM No
[Redact] 9131495 [Redact] [Redact] 33580441     Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   The file is missing the credit report for both borrowers.       Reviewer Comment (2025-06-09): Received Credit Report. Exception Cleared.


Seller Comment (2025-06-06): Credit Report
 06/09/2025     1 D A D A D A D A D A   [Redact] Primary Purchase   D B D A C B A A Non QM Non QM No
[Redact] 9131495 [Redact] [Redact] 33580613     Compliance Compliance Federal Compliance TRID Defect TRID Final Closing Disclosure Non Escrow Costs Year 1 Underdisclosed - October 2018 TILA-RESPA Integrated Disclosure - Loan Disclosures: Non Escrowed Property Costs over Year 1 of  on Final Closing Disclosure provided on [Redact] are underdisclosed. The final CD did not include the HOA Dues of [Redact] per month in the Estimated Taxes, Insurance & Assessments on page 1 nor in the Non-Escrowed Property Costs over Year 1 on page 4.       Reviewer Comment (2025-06-16): [Redact] received Letter of Explanation & Corrected Closing Disclosure.


Seller Comment (2025-06-12): LOX


Reviewer Comment (2025-06-11): [Redact] received corrected PCCD but missing LOE to borrower to accompanied CD. Please provide LOE to cure.


Seller Comment (2025-06-10): Please see updated docs
   06/16/2025   2 C B C B C B C B C B   [Redact] Primary Purchase Letter of Explanation & Corrected Closing Disclosure D B D A C B A A Non QM Non QM Yes
[Redact] 9131495 [Redact] [Redact] 33580615     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Verification Of Employment Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure D B D A C B A A Non QM Non QM Yes
[Redact] 9131495 [Redact] [Redact] 33580616     Compliance Compliance Federal Compliance TRID ECOA Appraisal Disclosure - ECOA Timing ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date. File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date.       Reviewer Comment (2025-06-09): Initial LE provided


Seller Comment (2025-06-06): Ecoa Rights
 06/09/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   D B D A C B A A Non QM Non QM No
[Redact] 9131495 [Redact] [Redact] 33580617     Compliance Compliance Federal Compliance TRID Defect TRID Loan Estimate Timing TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application. Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application. (Initial/[Redact])       Reviewer Comment (2025-06-09): Initial LE provided


Seller Comment (2025-06-06): ILE
 06/09/2025     1 C A C A C A C A C A   [Redact] Primary Purchase No Defined Cure D B D A C B A A Non QM Non QM No
[Redact] 9131495 [Redact] [Redact] 33581935     Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided           Reviewer Comment (2025-06-09): Received Hazard Insurance Policy. Exception Cleared.


Seller Comment (2025-06-06): HOI
 06/09/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   D B D A C B A A Non QM Non QM No
[Redact] 9131495 [Redact] [Redact] 33582032     Credit Insurance Insurance Documentation Insurance Hazard Insurance Error: Subject hazard insurance policy number is missing from evidence of insurance.   Hazard insurance policy is not in file.       Reviewer Comment (2025-06-09): HOI dec page with policy # provided
 06/09/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   D B D A C B A A Non QM Non QM No
[Redact] 9131496 [Redact] [Redact] 33319806     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783755     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Assignment of Leases/Rents not provided           Reviewer Comment (2025-07-06): Received security instrument. Exception Cleared.


Seller Comment (2025-07-03): [Redact]: please see attached


Reviewer Comment (2025-06-30): The condition is not asking for a lease agreement; but the language of the Assignment of Leases/Rents included in the Security Instrument which was not provided in the initial file.  Condition is valid and remains open


Seller Comment (2025-06-30): [Redact]: subject property was owner occupied and unleased per the appraisal. A copy of a lease agreement is not required.
 07/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783762     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Fraud report document was not provided in the file.       Reviewer Comment (2025-06-30): Fraud Report provided


Seller Comment (2025-06-30): [Redact]: please see attached
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783763     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided           Reviewer Comment (2025-06-30): Fraud Report provided


Seller Comment (2025-06-30): [Redact]: please see attached
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783765     Credit Loan Package Documentation Closing / Title Missing Document  Missing Document: Security Instrument - Subject Lien not provided   Security instrument was missing in the file.       Reviewer Comment (2025-07-06): Received security instrument. Exception Cleared.


Seller Comment (2025-07-03): Please see the attached SECI.
 07/06/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783770     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   Secondary valuation is missing for securitization purposes.       Reviewer Comment (2025-06-30): Secondary valuation provided


Seller Comment (2025-06-30): [Redact]: please see attached
 06/30/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783774     Credit Credit Credit Documentation Credit OFAC was not checked and required per guidelines. - fraud report was missing in the file.       Reviewer Comment (2025-06-30): Fraud Report provided


Seller Comment (2025-06-30): [Redact]: please see attached
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783775     Credit Credit Credit Documentation Credit No evidence of fraud report in file - fraud report was missing in the file.       Reviewer Comment (2025-06-30): Fraud Report provided


Seller Comment (2025-06-30): [Redact]: please see attached
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9131496 [Redact] [Redact] 33783777     Credit Investment Product General Exception Investment Product Security Instrument Error: Assignment of Leases/Rents is not in the file and required by guidelines -         Reviewer Comment (2025-07-06): Received security instrument. Exception Cleared.


Seller Comment (2025-07-03): [Redact]: please see attached


Reviewer Comment (2025-06-30): The condition is not asking for a lease agreement; but the language of the Assignment of Leases/Rents included in the Security Instrument which was not provided in the initial file.  Condition is valid and remains open


Seller Comment (2025-06-30): [Redact]: subject property was owner occupied and unleased per the appraisal. A copy of a lease agreement is not required.
 07/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A     D A   N/A No
[Redact] 9132460 [Redact] [Redact] 33324868     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-09): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-06): Please advise on the note review status


Seller Comment (2025-06-02): Note delivered via [Redact] [Redact]
 06/09/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A A A C A A A Non QM Non QM No
[Redact] 9132460 [Redact] [Redact] 33532304     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Lender's Title Insurance.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Title - Lender's Title Insurance was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.   Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.       Reviewer Comment (2025-06-03): [Redact] Received Valid COC dated [Redact] along with revised LE.


Seller Comment (2025-06-02): NOLC
 06/03/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Non QM Non QM Yes
[Redact] 9132518 [Redact] [Redact] 33326473     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/25/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9132518 [Redact] [Redact] 33944138     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-07-16): Client elected to waive the condition on the Non-QM 1st lien
     07/16/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9132520 [Redact] [Redact] 33326689     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9132520 [Redact] [Redact] 33535793     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-29): Sufficient Cure Provided At Closing
   05/29/2025   1 A A A A A A A A A A   [Redact] Second Home Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9132531 [Redact] [Redact] 33327874     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-02): Waived on Rate Lock: Collateral cleared by Custodian
 06/02/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B B B A A A A Non QM Non QM No
[Redact] 9132531 [Redact] [Redact] 33508633     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Verification Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-22): Sufficient Cure Provided At Closing
   05/22/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B B B A A A A Non QM Non QM Yes
[Redact] 9132531 [Redact] [Redact] 33511509     Credit Guideline Guideline Issue Guideline The property site acres is greater than 10 acres which does not meet guidelines. - Site Acres: ___ Lender approved exception for acreage ([Redact] ac zoned AG not a working farm). Compensating factors: 44.78% LTV id 35 below max, [Redact] post-close retirement reserves (70 months or 10x), 3 comparables with similar acreage supporting value and 20 year mortgage history paid as agreed Borrower's monthly reserves have been verified and exceed the guideline required amount by the equivalent of 4 months PITIA or more.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.		 [Redact] post-close retirement reserves (70 months or 10x).

44.78 LTV is 35 below max (80).		 Originator Pre-Close,Aggregator,[Redact]

[Redact],Originator Pre-Close,Aggregator		 Reviewer Comment (2025-05-23): Client elected to waive the condition with the following Compensating Factors:
44.78 LTV is 35 below max (80).
[Redact] post-close retirement reserves (70 months or 10x).
3 comps with similar acreage supporting value.
     05/23/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   B B B B A A A A Non QM Non QM No
[Redact] 9132529 [Redact] [Redact] 33327883     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-20): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9134041 [Redact] [Redact] 33329121     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian
 06/13/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9134041 [Redact] [Redact] 33583587     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-06): Client elected to waive the condition on the Non-QM 1st lien
     06/06/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9134041 [Redact] [Redact] 33584516     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             06/06/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9134030 [Redact] [Redact] 33334493     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9134030 [Redact] [Redact] 33571858     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-04): Client elected to waive the condition on the Non-QM 1st lien
     06/04/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9134030 [Redact] [Redact] 33572425     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided   Loan Underwriting and Transmittal Summary (1008) not provided.       Reviewer Comment (2025-06-06): Received Loan Underwriting and Transmittal Summary (1008). Exception Cleared.


Seller Comment (2025-06-05): (Rate Lock) 1003 and 1008
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9134030 [Redact] [Redact] 33573118     Credit Credit Miscellaneous Guideline Credit Exception:   Final 1003 does not reflect the subject property rental income.  Unable to determine the rental loss or income used to qualify the subject.       Reviewer Comment (2025-06-06): Received revised 1003. Exception Cleared.


Seller Comment (2025-06-05): (Rate Lock) 1003 and 1008
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9134030 [Redact] [Redact] 33576789     Credit Asset Asset Calculation / Analysis Asset Guideline Requirement: Available for Reserves discrepancy.   The lender excluded the open 30-day [Redact] account from the liabilities.  The guidelines are silent and default to FNMA.  Per the FNMA selling guide, for open 30-day charge accounts that do not reflect a monthly payment on the credit report, or 30-day accounts that reflect a monthly payment that is identical to the account balance, lenders must verify borrower funds to cover the account balance. The verified funds must be in addition to any funds required for closing costs and reserves.  The assets used to qualify did not support sufficient reserves removing the [Redact] balance from the assets.       Reviewer Comment (2025-06-06): The 30-day [Redact] 5% monthly payments were included in total liabilities. Exception cleared.


Seller Comment (2025-06-05): (Rate Lock) updated 1003 & 1008
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9134037 [Redact] [Redact] 33334811     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-29): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-23): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 05/29/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9134037 [Redact] [Redact] 33515965     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Monthly P&I does not agree with Schedule SCH: [Redact]               NOTE:[Redact]       Buyer Comment (2025-05-29): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-27): Please match the schedule to the note.
 05/29/2025     1   A   A   A   A   A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9134026 [Redact] [Redact] 33335586     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-04): Waived on Rate Lock: Collateral cleared by Custodian
 06/04/2025     1 A A A A A A A A A A   [Redact] Second Home Refinance - Rate/Term   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9134026 [Redact] [Redact] 33542467     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided             05/30/2025 2 B B B B B B B B B B   [Redact] Second Home Refinance - Rate/Term   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9134026 [Redact] [Redact] 33544319     Credit Loan Package Documentation Application / Processing Loan Package Documentation Mismatch of data related to Occupancy.   The loan was submitted and reviewed as a Second Home; however the appraisal identified the property in "Tenant" occupied.  The borrower executed an occupancy cert stating "The property will not be income producing".  A correct appraisal AND clarification regarding the Occupant information on the appraisal is required.       Reviewer Comment (2025-06-10): Revised appraisal provided


Seller Comment (2025-06-09): UPDATED APPRAISAL
 06/10/2025     1 C A C A C A C A C A   [Redact] Second Home Refinance - Rate/Term   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9134052 [Redact] [Redact] 33338618     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-02): (Rate Lock) [Redact]
 06/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9134052 [Redact] [Redact] 33543139     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   File was missing asset documentation.  Only the deposits on the CD from the two 1031 exchanges were captured.       Reviewer Comment (2025-06-02): Missing asset documentation provided


Seller Comment (2025-06-02): (Rate Lock) assets
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9134052 [Redact] [Redact] 33543205     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   File was missing asset documentation.  Only the deposits on the CD from the two 1031 exchanges were captured.       Reviewer Comment (2025-06-02): Missing asset documentation provided


Seller Comment (2025-06-02): (Rate Lock) assets
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9134052 [Redact] [Redact] 33543220     Credit Business Purpose General Business Purpose Insufficient funds for Reserves.   File was missing asset documentation.  Only the deposits on the CD from the two 1031 exchanges were captured.       Reviewer Comment (2025-06-02): Missing asset documentation provided


Seller Comment (2025-06-02): (Rate Lock) assets
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9134052 [Redact] [Redact] 33543221     Credit Asset Asset Documentation Asset Insufficient funds for Reserves. Guidelines require   File was missing asset documentation.  Only the deposits on the CD from the two 1031 exchanges were captured.       Reviewer Comment (2025-06-02): Missing asset documentation provided


Seller Comment (2025-06-02): (Rate Lock) assets
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9134052 [Redact] [Redact] 33544364     Credit Missing Document General Missing Document Missing Document: HUD/CD (Asset) not provided   File is missing the settlement statement HUD and exchange agreement for [Redact] and [Redact]       Reviewer Comment (2025-06-02): Missing asset documentation provided


Seller Comment (2025-06-02): (Rate Lock) 1
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9134052 [Redact] [Redact] 33574282     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   The seller has identified that there is a lease on the property in place.  The lease agreement was not located in the file.       Reviewer Comment (2025-06-05): Lease cannot be used; however DSCR meets the guideline requirements


Reviewer Comment (2025-06-05): Lease agreement provided was dated post-close and cannot be used to calculate the DSCR.  Per the guidelines, the lease must be in place and the lower of the lease amount or market rent is used to calculate the DSCR.  Since there was no lease in place at closing, 75% of the market rent is used to qualify.


Seller Comment (2025-06-05): (Rate Lock) lease
 06/05/2025     1   A   A   A   A   A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9134483 [Redact] [Redact] 33343989     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) note Tracking [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9134483 [Redact] [Redact] 33532747     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact]       Reviewer Comment (2025-05-29): Client elected to waive the condition on the Non-QM 1st lien
     05/29/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9134483 [Redact] [Redact] 33536762     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided             05/29/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9134488 [Redact] [Redact] 33344379     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9134488 [Redact] [Redact] 33515794     Credit Credit Credit Documentation Credit Insufficient Verification of Rental History.   Per the guidelines, rental history must be verified for 12 months.  The file contained a copy of the lease and 8 months bank statements verifying the rent from [Redact]-[Redact]; however missing proof of payments from [Redact]-[Redact].  Note: the LOE in file from the borrower states the landlord requested cash or money orders for rent prior to [Redact]; however this is not sufficient to meet the guideline requirement.       Reviewer Comment (2025-06-26): Documentation provided to verify rental history


Seller Comment (2025-06-25): [Redact]: Receipts attached


Reviewer Comment (2025-06-02): The ledger provided is not from the landlord but is a breakdown of the monthly deposits to the bank statements used to qualify.  The ledger is signed by the tax preparer.  Missing VOR from [Redact]-[Redact].  Condition is valid and remains open


Seller Comment (2025-05-30): [Redact]: Ledgers signed by the landlord were provided
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9134545 [Redact] [Redact] 33346529     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-21): Waived on Rate Lock: Collateral cleared by Custodian
 05/21/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B B B B B A A Non QM Non QM No
[Redact] 9134545 [Redact] [Redact] 33469380     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.             05/15/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B B B A A Non QM Non QM No
[Redact] 9134545 [Redact] [Redact] 33469423     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-05-15): Client elected to waive the condition on the Non-QM 1st lien
     05/15/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B B B B B A A Non QM Non QM Yes
[Redact] 9134545 [Redact] [Redact] 33470477     Compliance Compliance Federal Compliance Federal HPML (Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer) TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.         Reviewer Comment (2025-06-05): Client elected to waive the condition


Seller Comment (2025-06-04): [Redact] Please see attached appraisal from [Redact] showing the value was [Redact] and did not change.


Seller Comment (2025-06-04): [Redact] Please see attached Appraisal from [Redact] showing the value has always been [Redact]


Reviewer Comment (2025-06-04): An additional copy of the appraisal with a report date of [Redact] was provided.  This same appraisal has been provided three times.  A copy of the appraisal provided to the borrower on [Redact] is required to determine there was no change in value.  Condition is valid and remains open


Seller Comment (2025-06-03): [Redact] Please see attached appraisal from [Redact] showing the value of the home did not change and stayed at [Redact]. There was no material change and therefore the requirements are being met.


Reviewer Comment (2025-05-30): An additional copy of the appraisal with a report date of [Redact] was provided.  The appraisal dated [Redact] as mentioned in the sellers rebuttal was not provided.  Note: proof of receipt of the appraisal on [Redact] was in the initial file, so a copy of the appraisal received on [Redact] is required.  Condition remains


Seller Comment (2025-05-30): [Redact] Please see attached appraisal from [Redact] showing the value of the home did not change and stayed at [Redact]


Reviewer Comment (2025-05-19): Provide a copy of the initial appraisal to confirm the changes were clerical only.  Condition remains


Seller Comment (2025-05-16): [Redact] Disagree -  As long as all the requirements were met as they were on this loan. Please see the attached document that shows the borrower received the Appraisal on [Redact]. Revised appraisals simply due to clerical changes only with no change in value given at or prior to closing are considered HPML Compliant
     06/05/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B B B A A Non QM Non QM No
[Redact] 9081693 [Redact]   33347477     Credit Credit Miscellaneous Guideline Credit Exception:   Require current lease must be supported with two most recent bank statements showing consecutive rental payment.       Reviewer Comment (2025-04-11): Received bank statement and Bifurcation of Combined Deposits of all renal properties borrower owned which includes subject [Redact]. Exception Cleared


Buyer Comment (2025-04-10): rent
 04/11/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C A C A A A A A   N/A No
[Redact] 9081693 [Redact]   33347478     Credit Credit Credit Documentation Credit Absence of Business Purpose Certificate and/or Non-Owner Occupancy Declaration and/or UW Business Purpose Analysis and thus casts doubt on the business purpose of the loan.   Require business purpose certificate with property address, borrower current address signed and dated by borrower/guarantor.       Reviewer Comment (2025-04-11): Received 1st page with Require information on 1st page. 2nd page already with signature already provided in the file. Exception Cleared


Buyer Comment (2025-04-10): BPO
 04/11/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C A C A A A A A   N/A No
[Redact] 9135864 [Redact] [Redact] 33354213     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-16): Please advise if anything additional is needed on this one.


Seller Comment (2025-06-11): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9135943 [Redact] [Redact] 33355008     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-04): (Rate Lock) [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9135945 [Redact] [Redact] 33355355     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9135945 [Redact] [Redact] 33732560     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.             06/25/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9135945 [Redact] [Redact] 33732561     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-25): Client elected to waive the condition on the Non-QM 1st lien
     06/25/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9136049 [Redact] [Redact] 33355906     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9137324 [Redact] [Redact] 33356089     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-06): Waived on Rate Lock: Collateral cleared by Custodian
 06/06/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9137324 [Redact] [Redact] 33534780     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-05-29): Client elected to waive the condition on the Non-QM 1st lien
     05/29/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Non QM Non QM Yes
[Redact] 9137324 [Redact] [Redact] 33534877     Credit Title Document Error Title The Preliminary/Commitment does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.       Reviewer Comment (2025-06-03): Final title provided


Seller Comment (2025-06-02): Please see attached title policy.
 06/03/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9137324 [Redact] [Redact] 33534880     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.   The file was missing a copy of the final title policy.       Reviewer Comment (2025-06-03): Final title provided
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9137728 [Redact] [Redact] 33362993     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-25): Is anything additional needed on this one?


Seller Comment (2025-06-20): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9137958 [Redact] [Redact] 33363559     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-27): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9138010 [Redact] [Redact] 33363720     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-04): Waived on Rate Lock: Collateral cleared by Custodian
 06/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9138207 [Redact] [Redact] 33364363     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term   A A A A A A A A Non QM Non QM No
[Redact] 9138207 [Redact] [Redact] 33527563     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-05-28): Sufficient Cure Provided At Closing
   05/28/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9138207 [Redact] [Redact] 33527564     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-05-28): Sufficient Cure Provided At Closing
   05/28/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9138217 [Redact] [Redact] 33365060     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9138217 [Redact] [Redact] 33617541     Credit Credit Miscellaneous Guideline Credit Exception:   An exception approval has been provided by the lender to allow the utilization of unseasoned funds as assets utilization. Borrower has verified disposable income of at least [Redact].

Borrower's monthly reserves have been verified and exceed the guideline required amount by the equivalent of 4 months PITIA or more.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 [Redact] post-close reserves (98 months or 23x).

65 LTV is 15 below max (80).

33.70 DTI is 16 below max (50).		 [Redact]

Originator Pre-Close,Aggregator,[Redact]

[Redact]

[Redact]

Originator Pre-Close,Aggregator,[Redact]

Originator Pre-Close,Aggregator,[Redact]

[Redact]		 Reviewer Comment (2025-06-10): Client elected to waive the condition with the following Compensating Factors:
65 LTV is 15 below max (80).
[Redact] post-close reserves (98 months or 23x).
33.70 DTI is 16 below max (50).
     06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9138217 [Redact] [Redact] 33617653     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Not High Cost and Not Higher Priced The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). The declarations section of the initial 1003 identified the borrower would occupy the subject as a primary residence.             06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139676 [Redact] [Redact] 33369691     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-22): Waived on Rate Lock: Collateral cleared by Custodian
 05/22/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A B B B A A Non QM Non QM No
[Redact] 9139676 [Redact] [Redact] 33485262     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification of appraisal was delivered to borrower was not provided             05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A B B B A A Non QM Non QM No
[Redact] 9139676 [Redact] [Redact] 33488131     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The transfer tax fee was disclosed to the borrower on the LE as [Redact], the final CD shows the teransfer tax fee as [Redact], however there was a lender credit of [Redact] to cover the cost to cure       Reviewer Comment (2025-05-20): Sufficient Cure Provided At Closing
   05/20/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A B B B A A Non QM Non QM Yes
[Redact] 9139676 [Redact] [Redact] 33506595     Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Upon further review, per the guideline overlays, First Time Home Buyers are ineligible, The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Borrower has verified disposable income of at least [Redact].

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.		 DTI is 26 where 50 is maximum

FICO: 798 where the minimum is 720		 [Redact],Aggregator

[Redact]

[Redact]

[Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-06-23): Client elected to waive the condition with the following compensating factors:
DTI is 26 where 50 is maximum
FICO: 798 where the minimum is 720
LTV of 67 where maximum is 75


Reviewer Comment (2025-06-03): Per the definition of the guidelines, a First Time Home Buyer is defined as an individual who has not had individual ownership interest in a residential property within the last five years.  Documentation provided identifying the borrower is an member of an LLC that owns a property is not acceptable as the property was not individually owned.  The condition is valid and remains open


Seller Comment (2025-06-03): Please see rest of trailing documentation to support ownership of addtl property in LLC name, D0420 and D0424 are updated 1003.  D0423 is Property History Report showing [Redact] owned by [Redact], D0421 is COGS for [Redact], pg 787 is CPA letter confirming bwr is 50% owner of LLC, and D0422 is CPA license. Bwr is not FTHB


Reviewer Comment (2025-06-02): Revised 1003 provided identifying borrower is not a FTHB; however the other docs in file support the borrower being a FTHB.  The fraud report shows no properties in the REO section, the credit report identifies no prior mortgages, and there is no other documentation in file identifying the borrower owned a property within the last 3 years.  Note: the revised 1003 identified the borrower previously owned a primary residence, but page 1 of the 1003 identified the borrower has been renting for 6 years and 8 months.  Additional information is required to verify the borrower is not a FTHB.  Condition remains


Seller Comment (2025-06-02): Investment property showing not first time home buyer.
     06/23/2025 2   B   B   B   B   B   [Redact] Primary Purchase   B B A B B B A A Non QM Non QM No
[Redact] 9139677 [Redact] [Redact] 33370008     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian
 06/13/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9139725 [Redact] [Redact] 33370711     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-10): [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9122448 [Redact]   33391289     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business Purpose Certificate not provided       Reviewer Comment (2025-05-05): Document provided. Exception cleared.


Seller Comment (2025-05-05): Document uploaded
 05/05/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9122450 [Redact]   33396331     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-12): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-12): We UW incorrectly to the non tax abated property. The correct taxes as per the tax cert should be 1553.64. Please UW to that number. We will update our MLS


Reviewer Comment (2025-05-07): Documentation or a breakdown of how the higher taxes were calculated is required.  Condition remains


Seller Comment (2025-05-06): Agreed with AMC's tax value, Loan qualified with higher value to have a conservative terms


Reviewer Comment (2025-05-06): An additional copy of the tax cert in the initial file was provided.  The closing statement and the tape data identified qualifying property taxes of [Redact] per month and tax cert verified taxes of [Redact] per month.  Missing documentation or an explanation supporting the [Redact] per month taxes used to qualify.  Condition remains


Seller Comment (2025-05-05): Tax amount is [Redact], sourced from the uploaded tax cert
 05/12/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122454 [Redact]   33405393     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-05-13): Additional months statement provided


Seller Comment (2025-05-13): [Redact] _ [Redact] statement uplaoded


Reviewer Comment (2025-05-07): The Verification of Deposit provided is not belongs to borrower. Required 2 months consecutive bank statements. Exception Remains.


Seller Comment (2025-05-06): This is a newly opened account, Verification of Depositaary relationship uploaded.
 05/13/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122454 [Redact]   33405394     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-05-13): Additional months statement provided


Seller Comment (2025-05-13): [Redact] - [Redact] statement uploaded


Reviewer Comment (2025-05-07): The Verification of Deposit provided is not belongs to borrower. Required 2 months consecutive bank statements. Exception Remains.


Seller Comment (2025-05-06): This is a newly opened account, Verification of Depositaary relationship uploaded.
 05/13/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122454 [Redact]   33405395     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-05-13): Additional months statement provided


Seller Comment (2025-05-13): [Redact] - [Redact] statement uploaded


Reviewer Comment (2025-05-07): The Verification of Deposit provided is not belongs to borrower. Required 2 months consecutive bank statements. Exception Remains.


Seller Comment (2025-05-06): This is a newly opened account, Verification of Depositaary relationship uploaded.
 05/13/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122454 [Redact]   33405397     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-05-13): Additional months statement provided


Seller Comment (2025-05-13): Additionla liquidity uploaded


Seller Comment (2025-05-13): [Redact] - [Redact] statement uploaded


Reviewer Comment (2025-05-07): The Verification of Deposit provided is not belongs to borrower. Required 2 months consecutive bank statements. Exception Remains.


Seller Comment (2025-05-06): This is a newly opened account, Verification of Depositaary relationship uploaded.
 05/13/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122458 [Redact]   33403302     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-06): Seller provided detailed explanation of tax calculation which is higher than the tax cert in file


Seller Comment (2025-05-05): This is a newly built property, tax amount is calculated based on the average of the comparable properrites.

[Redact] - [Redact]
[Redact] - [Redact]
[Redact]=[Redact] - [Redact]
 05/06/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122458 [Redact]   33403310     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-06): Seller provided detailed explanation of tax calculation which is higher than the tax cert in file


Seller Comment (2025-05-05): This is a newly built property, tax amount is calculated based on the average of the comparable properrites.

[Redact]=[Redact] - [Redact]
[Redact]=[Redact] - [Redact]
[Redact]=[Redact] - [Redact]
 05/06/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122458 [Redact]   33403325     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-06): Seller provided detailed explanation of tax calculation which is higher than the tax cert in file


Seller Comment (2025-05-05): This is a newly built property, tax amount is calculated based on the average of the comparable properrites.

[Redact]=[Redact] - [Redact]

[Redact]=[Redact] - [Redact]

[Redact]=[Redact] - [Redact]
 05/06/2025     1 C A C A C A C A C A     Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122466 [Redact]   33406755     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Good standing document is missing in the file,       Reviewer Comment (2025-05-06): COGS provided


Seller Comment (2025-05-06): Entity status: Active as of [Redact] - Document uploaded
 05/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122466 [Redact]   33406800     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   OI coverage insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-05-07): Received Replacement Cost estimator. Exception Cleared.


Seller Comment (2025-05-06): Please see RCE attached.
 05/07/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122467 [Redact]   33406960     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided           Reviewer Comment (2025-05-06): Received business purpose certificate. Exception Cleared.


Seller Comment (2025-05-06): Business Purpose Certificate uploaded
 05/06/2025     1 C A C A C A C A C A     Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122467 [Redact]   33406974     Credit Missing Document General Missing Document Missing Document: Cash-Out Utilization not provided           Reviewer Comment (2025-05-06): Received business purpose certificate. Exception Cleared.


Seller Comment (2025-05-06): Uploaded HUD reflecting cash out to borrower
 05/06/2025     1 C A C A C A C A C A     Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122467 [Redact]   33406986     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   The Authorization to obtain consumer and credit reports and release is missing in the file.       Reviewer Comment (2025-05-06): Received borrower authorization. Exception Cleared.


Seller Comment (2025-05-06): Credit authorization uploaded
 05/06/2025     1 C A C A C A C A C A     Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122468 [Redact]   33413406     Credit Credit Miscellaneous Guideline Credit Exception:   Verification of Security Deposit of [Redact] reflected in the Residential Lease Agreement not provided.  Per the guides, a lease with a start data that falls within 30 days of the closing date of the loan, must contain proof of the security deposit: verified by a bank deposit statement.  Lease was executed on [Redact] and loan closed [Redact].       Reviewer Comment (2025-05-08): Proof of security deposit provided
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9122468 [Redact]   33413425     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___. Calculated Debt Service Coverage Ratio (Subject DSCR) of 0.84 does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) 1.00.  The PITIA was verified as [Redact] and the gross rent from the lease is [Redact]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 • Reserves: 52 months > 6m

• LTV: 61.5 < 80%

• FICO: 801 > 700		 [Redact],Aggregator

Aggregator,[Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-05-13): Client elected to waive the condition with the following Comp Factors:
• Reserves: 52 months > 6m
• FICO: 801 > 700
• LTV: 61.5 < 80%


Seller Comment (2025-05-09): Can we waive this exception with the below compensating factors.

High Fico: 801
Low LTV: 61.54
High liquidity:[Redact] verified liquidity
Market rent per the comparbles: [Redact]


Reviewer Comment (2025-05-08): Condition remains; doc loaded was for another condition.


Seller Comment (2025-05-07): Uploaded
     05/13/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9122469 [Redact]   33407081     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.           Reviewer Comment (2025-05-07): Received Closing Disclosure of Cash out transaction from another loan. Exception Cleared.


Seller Comment (2025-05-06): There are Two titles compeanies, one was enagaged by Attorney and 2nd was engaged by borrower earlier in the process

[Redact]: [Redact] in escrow proceed from another sale, holding for a purchase of subject property - HUD Attached
[Redact]: [Redact] in escrow, for the purchase of our subject property.
Borrowers Bank: [Redact]

Total liquidity: [Redact]
 05/07/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9122469 [Redact]   33407082     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.           Reviewer Comment (2025-05-07): Received Closing Disclosure of Cash out transaction from another loan. Exception Cleared.


Seller Comment (2025-05-06): There are Two titles compeanies, one was enagaged by Attorney and 2nd was engaged by borrower earlier in the process

[Redact]: [Redact] in escrow proceed from another sale, holding for a purchase of subject property - HUD Attached
[Redact]: [Redact] in escrow, for the purchase of our subject property.
Borrowers Bank: [Redact]

Total liquidity: [Redact]
 05/07/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9122473 [Redact]   33409566     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 • Reserves: 89 months > 6m

• LTV: 59.6% < 75%

• FICO: 788 > 700		 [Redact],Aggregator

Aggregator,[Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-05-13): Client elected to waive the condition with the following Comp Factors:
• Reserves: 89 months > 6m
• FICO: 788 > 700
• LTV: 59.6% < 75%


Seller Comment (2025-05-12): The property was previously owned by [Redact], hence it was tax exempt. [Redact] underwrote with [Redact] per year, to be conservative, can we clear this.


Reviewer Comment (2025-05-12): Condition is valid and remains open.  Lender included [Redact] per month for taxes in the PITIA and the appraisal verified taxes of [Redact] per month.  Unable to determine the lender's method to calculate the [Redact] per month taxes.


Seller Comment (2025-05-12): Appraisal uploaded


Reviewer Comment (2025-05-08): Required tax verification document to verify amount. Exception Remains.


Seller Comment (2025-05-07): The property was previously owned by [Redact], hence it was tax exempt. The property tax still shows zero in the county record. Appraisal report has RE tax as [Redact] but broker has stated approx tax as [Redact]. Hence [Redact] has been considered as property tax.
     05/13/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9122477 [Redact]   33406551     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-05-07): Received Replacement Cost estimator. Exception Cleared.


Seller Comment (2025-05-06): Please see RCE attached.
 05/07/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122480 [Redact]   33416384     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.           Reviewer Comment (2025-05-12): Received bank statement. Exception Cleared.


Seller Comment (2025-05-12): [Redact] statement uploaded


Seller Comment (2025-05-12): **


Seller Comment (2025-05-12): This is a newly opened account in [Redact], hence [Redact] staement is not available


Reviewer Comment (2025-05-08): Provided bank statement account #[Redact] only for 1 month. As per guideline required 2 months consecutive bank statements. Exception Remains.


Seller Comment (2025-05-07): bank staement uploaded, this is a newly opened account in [Redact], hence [Redact] staement is not available
 05/12/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122480 [Redact]   33416391     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.           Reviewer Comment (2025-05-12): Received bank statement. Exception Cleared.


Seller Comment (2025-05-12): **


Seller Comment (2025-05-12): This is a newly opened account in [Redact], hence [Redact] staement is not available


Reviewer Comment (2025-05-08): Provided bank statement account #[Redact] only for 1 month. As per guideline required 2 months consecutive bank statements. Exception Remains.


Seller Comment (2025-05-07): Bank statements
 05/12/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122483 [Redact]   33420529     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   Authorization to obtain consumer and credit reports and release not provided.       Reviewer Comment (2025-05-08): Received borrower authorization. Exception Cleared.


Seller Comment (2025-05-08): Credit authorization uploaded
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C A C A     A A   N/A No
[Redact] 9122484 [Redact]   33417899     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Documented qualifying Assets for Closing of  [Redact] is less than Cash From Borrower [Redact].       Reviewer Comment (2025-05-08): Received bank statement. Exception Cleared.


Seller Comment (2025-05-08): Bank statemetns uploaded
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122484 [Redact]   33417919     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Calculated PITIA months reserves of 1.89 is less than Guideline PITIA months reserves of 6.00.       Reviewer Comment (2025-05-08): Received bank statement. Exception Cleared.
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122485 [Redact]   33416521     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Provide additional 1 month Bank Statement for [Redact] Account Number Ending [Redact] (Month Ending [Redact] provided).       Reviewer Comment (2025-05-08): Received bank statement. Exception Cleared.


Seller Comment (2025-05-08): [Redact] statement of #[Redact]  uploaded
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9122486 [Redact]   33413633     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   Tax Certificate not provided.       Reviewer Comment (2025-05-08): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-08): Tax certificate uploaded
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122487 [Redact]   33420535     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   Authorization to obtain consumer and credit reports and release not provided.       Reviewer Comment (2025-05-12): Received Credit Authorization form. Exception Cleared.


Seller Comment (2025-05-09): Credit authorization form uploaded
 05/12/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122492 [Redact]   33421708     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount       Reviewer Comment (2025-05-08): RCE provided


Seller Comment (2025-05-08): [Redact] RCE
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122492 [Redact]   33425369     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   The file is missing the lease agreement for unit 2 verifying the gross rent of [Redact] beginning [Redact].  Per the appraisal, the current rent on unit 2 is [Redact] and the lease in file verified rent of [Redact] beginning [Redact].       Reviewer Comment (2025-05-08): Lease extension verifying the current rent was provided


Seller Comment (2025-05-07): Rent revision uploaded that states the lease amount as [Redact] per month
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9122494 [Redact]   33423855     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             05/07/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
[Redact] 9122514 [Redact]   33442209     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided   Upon further review, the file contained the Guaranty Agreement for only 1 of the 2 guarantors.  Provide a copy of the executed guaranty agreement for the guarantor [Redact].       Reviewer Comment (2025-05-12): Received guarantor agreement. Exception Cleared.


Seller Comment (2025-05-12): Document uploaded
 05/12/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9122517 [Redact]   33430416     Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Copy of Credit Report is missing for '[Redact]'.       Reviewer Comment (2025-05-12): Credit report provided


Seller Comment (2025-05-12): Credit report uploaded


Reviewer Comment (2025-05-12): Required Credit Report to clear this condition. Exception Remains.


Seller Comment (2025-05-09): Credit authorization form uploaded
 05/12/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9139730 [Redact] [Redact] 33371668     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-24): Waived on Rate Lock: Collateral cleared by Custodian
 06/24/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139730 [Redact] [Redact] 33716165     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             06/20/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139730 [Redact] [Redact] 33716916     Credit Credit Miscellaneous Guideline Credit Exception:   Number of financed properties is limited to 4 per guidelines.  Client approved exception provided in loan The Loan to Value (LTV) on the loan is less than or equal to 70%.

Borrower has been employed in the same industry for more than 5 years.

Borrower has worked in the same position for more than 3 years.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The qualifying DTI on the loan is less than or equal to 35%.

Borrower's monthly reserves have been verified and exceed the guideline required amount by the equivalent of 4 months PITIA or more.		 Low LTV

B1- job stability

low DT

low DT

great reserves		 [Redact],Aggregator

Aggregator,[Redact]

[Redact]

Aggregator,[Redact]

Aggregator,[Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-06-20): Client elected to waive the condition with the following Compensating Factors:
70 LTV is 15 below max (85).
32.78 DTI is 12 below max (45).
[Redact] post-close reserves (297 months or 18x).
     06/20/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139975 [Redact] [Redact] 33372120     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): (Rate Lock) [Redact]
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139975 [Redact] [Redact] 33704659     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-19): Client elected to waive the condition on the Non-QM 1st lien
     06/19/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9139976 [Redact] [Redact] 33372121     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-22): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-21): [Redact]
 05/22/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139976 [Redact] [Redact] 33485076     Credit Guideline Guideline Issue Guideline Missing required Transcript (1040) or W-2 Transcript. - The file is missing two years IRS tax transcripts supporting the tax returns in file used to qualify.       Reviewer Comment (2025-06-10): Transcripts provided


Seller Comment (2025-06-10): Record of Account


Reviewer Comment (2025-05-22): The docs referenced in the rebuttal are NOT tax transcripts.  They are account transcripts and does not verify the income disclosed on the tax returns.  Condition is valid and remains open


Seller Comment (2025-05-21): Pg 450-453 D0364-D0366, please cancel
 06/10/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139976 [Redact] [Redact] 33485403     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             05/20/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9139976 [Redact] [Redact] 33491822     Credit Asset Asset Calculation / Analysis Asset Guideline Requirement: Available for Reserves discrepancy.   Reserve requirement not met.  The difference is due to the lender excluded the 30-day [Redact] xx[Redact] account from the DTI.  Per the guidelines, deduct 30 day charge accounts from available liquid assets or use 5% of the balance as a payment.  If 5% of the balance was used to qualify, the DTI exceeds 60.00% and is not eligible.  When reducing the liquid assets by the balance of [Redact], there are insufficient reserves verified.  Note: per the guides, an authorized user account may be removed via supplement, and omitted from DTI/debt service, provided there is no evidence in the file the Applicant is paying the account in question.  The supplement did not remove the account.       Reviewer Comment (2025-05-29): Credit supplement provided removing authorized user account.  There are sufficient reserves verified


Seller Comment (2025-05-28): Credit Supplement


Reviewer Comment (2025-05-27): Per the guidelines, An authorized user account may be removed via supplement, and omitted from DTI/debt service, provided there is no evidence in the file the Applicant is paying the account in question.  The file does not contained a credit supplement removing the account.  Condition is valid and remains open


Seller Comment (2025-05-23): The debt account in question is an Authorized User account and should not be required to be included. Please cancel
 05/29/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9085466 [Redact]   33383617     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2           Reviewer Comment (2025-04-06): Received


Buyer Comment (2025-04-01): ARR
 04/06/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Rate/Term   D A A A A A D A   N/A No
[Redact] 9140884 [Redact] [Redact] 33386015     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-10): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9140984 [Redact] [Redact] 33387865     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-22): (Rate Lock) [Redact]
 05/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9141071 [Redact] [Redact] 33388077     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-26): Waived on Rate Lock: Collateral cleared by Custodian
 05/26/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C A A A C A A A Non QM Non QM No
[Redact] 9141071 [Redact] [Redact] 33481049     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Second Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-06-06): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Seller Comment (2025-06-05): Please see the Tolerance Cure Breakdown which shows there was a tolerance given at closing for the increase in the Appraisal 2 fee.
 06/06/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Non QM Non QM Yes
[Redact] 9141071 [Redact] [Redact] 33481050     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Transfer Tax. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-06-25): [Redact] received valid COC dated [Redact]


Seller Comment (2025-06-23): The change in loan amount was on the [Redact]CofC and was disclosed on the [Redact]CD. On [Redact]a cofc was submitted due to the loan amount change to increase the transfer taxes and the [Redact]CD shows both the increase in loan amount and taxes.


Reviewer Comment (2025-06-06): [Redact] Received COC [Redact] stating loan amount change; however, there is no change in loan amount compared to CD dated [Redact].  In order to determine if the changed circumstance is valid more information is necessary on reason fee increase/added and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check.


Seller Comment (2025-06-05): On [Redact]there was a Change in Circumstance to increase the loan amount from [Redact] to [Redact]. Due to this, in the state of [Redact], the transfer tax needed to increase as well. There was a CofC submitted to increase the transfer taxes on [Redact]and a CD went out to the borrower on the same day. Please see the attached CofCs and CD.
 06/25/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Non QM Non QM Yes
[Redact] 9141071 [Redact] [Redact] 33755316     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Sufficient cure provided at closing       Reviewer Comment (2025-06-25): Sufficient Cure Provided At Closing
   06/25/2025   1   A   A   A   A   A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure C A A A C A A A Non QM Non QM Yes
[Redact] 9141075 [Redact] [Redact] 33388482     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-22): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-19): (Rate Lock) [Redact]
 05/22/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9141077 [Redact] [Redact] 33388682     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-10): Note Tracking [Redact]
 06/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9141077 [Redact] [Redact] 33578304     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   The file is missing a copy of the Articles of Organization/Formation.       Reviewer Comment (2025-06-09): Received Article of Organization. Exception Cleared.


Seller Comment (2025-06-09): LLC docs
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9141077 [Redact] [Redact] 33578306     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   The file is missing a copy of the Certificate of Good Standing.       Reviewer Comment (2025-06-09): Received Article of Organization. Exception Cleared.


Seller Comment (2025-06-09): LLC docs All
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9141077 [Redact] [Redact] 33578310     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   The file is missing a copy of the Corporate Resolution.       Reviewer Comment (2025-06-09): Received operating agreement. Exception Cleared.


Seller Comment (2025-06-09): LLC docs all
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9141077 [Redact] [Redact] 33578312     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Employer Identification Number (EIN) not provided   The file is missing a copy of the Employer Identification Number (EIN).       Reviewer Comment (2025-06-09): Received EIN. Exception Cleared.


Seller Comment (2025-06-09): LLC docs
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9141077 [Redact] [Redact] 33578313     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   The file is missing a copy of the Operating Agreement.       Reviewer Comment (2025-06-09): Received operating agreement. Exception Cleared.


Seller Comment (2025-06-09): LLC docs all
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9146267 [Redact] [Redact] 33396795     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Delivered [Redact] via [Redact] [Redact]
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9146268 [Redact] [Redact] 33396897     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-26): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-23): Collateral delivered on [Redact] via [Redact] tracking [Redact]
 05/26/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9146271 [Redact] [Redact] 33397631     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9146271 [Redact] [Redact] 33744893     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Transfer Tax. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9146433 [Redact] [Redact] 33398161     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian
 06/30/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9146433 [Redact] [Redact] 33723472     Compliance Compliance Federal Compliance ATR/QM Self-Employed Tax Return Recency - ATR Ability to Repay (Dodd-Frank 2014): Self Employed Tax Returns - The business or personal tax returns provided are not the most recent. Application Date [Redact],  Most Recent Tax Return End Date [Redact], Tax Return Due Date [Redact]. Borrower filed extension for 2023 business returns for company [Redact].  File closed in [Redact]. Borrower is on a Fiscal year with date of [Redact].  Extensions for C-corps are due four months after fiscal year.  Thus, a more recent return is required.             06/23/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9215665 [Redact] [Redact] 33398473     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-01): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-30): Tracking ID #[Redact]


Seller Comment (2025-06-20): Note


Seller Comment (2025-06-18): Recorded Mortgage
 07/01/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9146439 [Redact] [Redact] 33398799     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33730701     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Disclosure) Federal High-Cost Mortgage Loan (Notice to Assignee) Truth in Lending Act (HOEPA): Required Statement was not provided to purchaser or assignee for loan that was sold or assigned. (Note: This notice only applies when selling or assigning a HOEPA loan and may not be found in the file for loans that have not been previously sold) The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-26): Proof of the undiscounted interest rate and the undiscounted interest rate price provided


Seller Comment (2025-06-25): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33730702     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Disclosure) Federal High-Cost Mortgage Loan (HOEPA Disclosure Not Provided) Truth in Lending Act (HOEPA):  HOEPA disclosure was not provided to the Borrower The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-26): Proof of the undiscounted interest rate and the undiscounted interest rate price provided


Seller Comment (2025-06-25): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33730703     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Financed Points and Fees) Truth in Lending Act (HOEPA): Mortgage loan financed Points and Fees. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-26): Proof of the undiscounted interest rate and the undiscounted interest rate price provided


Seller Comment (2025-06-25): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33730704     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Late Charge) Truth in Lending Act (HOEPA): Mortgage loan contains a late charge that exceeds the greater of 4% of the amount past due or grace period of less than 15 days. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-26): Proof of the undiscounted interest rate and the undiscounted interest rate price provided


Seller Comment (2025-06-25): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33730705     Compliance Compliance Federal Compliance Federal Defect (Fed High Cost) Federal High-Cost Mortgage Loan (Points and Fees) Truth in Lending Act (High-Cost Mortgage): Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of  5.00000% of the Federal Total Loan Amount. Points and Fees of [Redact] on a Federal Total Loan Amount of [Redact] vs. an allowable total of [Redact] (an overage of [Redact] or [Redact]).  Non-Compliant High Cost Loan. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-26): Proof of the undiscounted interest rate and the undiscounted interest rate price provided


Seller Comment (2025-06-25): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other (1) Signed letter from borrower indicating their choice to either (a) accept refund and make loan non-high-cost or (b) keep loan as high-cost and make loan compliant; (2) Assuming option (a) is selected, a copy of refund check and proof of mailing; (3) Assuming option (b) is selected, proof of cure for each of the prohibited practices violations noted. C B C B C B A A Non QM Non QM Yes
[Redact] 9146439 [Redact] [Redact] 33730706     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (2015 Counseling Requirement) Truth in Lending Act (HOEPA):  Pre-loan counseling requirements not met. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-26): Proof of the undiscounted interest rate and the undiscounted interest rate price provided


Seller Comment (2025-06-25): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33730707     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-24): Client elected to waive the condition on the Non-QM 1st lien
     06/24/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C B C B A A Non QM Non QM Yes
[Redact] 9146439 [Redact] [Redact] 33730783     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             06/24/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33731454     Compliance Compliance Federal Compliance TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form Incorrect Right To Cancel Form Used - H-9 Used on Non Same Lender Refinance Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinance by a creditor that is not considered the original creditor. The H-9 form was used, the H-8 form should have been used.         Reviewer Comment (2025-07-02): Letter of Explanation, Proof of Delivery, and Re-opened Rescission using the correct model form was provided


Seller Comment (2025-07-02): Please see the attached Letter of Explanation, Right to Cancel, Closing Disclosure, and proof of delivery.
   07/02/2025   2 C B C B C B C B C B   [Redact] Primary Refinance - Cash-out - Other TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form C B C B C B A A Non QM Non QM Yes
[Redact] 9146439 [Redact] [Redact] 33732029     Credit Missing Document General Missing Document Missing Document: Verification of Non-US Citizen Status not provided   The Patriort Act Form shows the borrower's [Redact]. Temporary ID and a Mexico Passport that expired [Redact] The final 1003 shows the borrower as a US Citizen. Please provide proof of the borrower's citizenship, if the borrower isn't a US Citizen a corrected 1003 and current  Passport is required.       Reviewer Comment (2025-07-02): Perm res card and revised 1003 provided


Seller Comment (2025-07-02): [Redact]: Borrower is a permanent resident, see attached green card and updated loan app
 07/02/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33732154     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - The operating agreement provided is not signed by both owners of the LLC, there was no CPA Letter in the file verifying the borrower's precentage of ownership.       Reviewer Comment (2025-07-02): CPA letter provided
 07/02/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146439 [Redact] [Redact] 33732212     Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. The file is missing verification of precentage of ownership in the LLC.       Reviewer Comment (2025-07-02): CPA letter provided


Seller Comment (2025-07-02): [Redact]: See attached CPA Letter
 07/02/2025     1 B A C A B A C A B A   [Redact] Primary Refinance - Cash-out - Other Lender to provide updated ATR/QM Loan Designation C B C B C B A A Non QM Non QM Yes
[Redact] 9146439 [Redact] [Redact] 33732213     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. The file is missing verification of precentage of ownership in the LLC.       Reviewer Comment (2025-07-02): CPA letter provided


Seller Comment (2025-07-02): [Redact]: See attached CPA Letter
 07/02/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9146445 [Redact] [Redact] 33399048     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-30): Waived on Rate Lock: Collateral cleared by Custodian
 05/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9146449 [Redact] [Redact] 33399178     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-06): Waived on Rate Lock: Collateral cleared by Custodian
 06/06/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B B B B B A A Non QM Non QM No
[Redact] 9146449 [Redact] [Redact] 33535697     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             05/29/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   B B B B B B A A Non QM Non QM No
[Redact] 9146449 [Redact] [Redact] 33535698     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             05/29/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   B B B B B B A A Non QM Non QM No
[Redact] 9146449 [Redact] [Redact] 33535701     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Second Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-05-29): Sufficient Cure Provided At Closing
   05/29/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B B B B B A A Non QM Non QM Yes
[Redact] 9146449 [Redact] [Redact] 33535702     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Credit Report Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-05-29): Sufficient Cure Provided At Closing
   05/29/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B B B B B A A Non QM Non QM Yes
[Redact] 9146449 [Redact] [Redact] 33536800     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             05/29/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   B B B B B B A A Non QM Non QM No
[Redact] 9147308 [Redact] [Redact] 33403094     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-29): Waived on Rate Lock: Collateral cleared by Custodian
 05/29/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9147312 [Redact] [Redact] 33403461     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-18): Waived on Rate Lock: Collateral cleared by Custodian
 06/18/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   A A A A A A A A Non QM Non QM No
[Redact] 9147315 [Redact] [Redact] 33403751     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9147320 [Redact] [Redact] 33404065     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-02): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-02): Note Tracking [Redact]
 06/02/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Limited Cash-out GSE   C A C A A A A A Non QM Non QM No
[Redact] 9147320 [Redact] [Redact] 33514175     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-05-23): Sufficient Cure Provided At Closing
   05/23/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Limited Cash-out GSE Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9147320 [Redact] [Redact] 33514466     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-06-09): Received updated hazard insurance. Exception Cleared.


Seller Comment (2025-06-06): Correct hazard
 06/09/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C A C A A A A A Non QM Non QM No
[Redact] 9147655 [Redact] [Redact] 33405024     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9147658 [Redact] [Redact] 33405236     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-01): (Rate Lock) [Redact]
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9147659 [Redact] [Redact] 33405267     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-09): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9149251 [Redact] [Redact] 33408885     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian
 06/10/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9149251 [Redact] [Redact] 33564084     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-03): Client elected to waive the condition on the Non-QM 1st lien
     06/03/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9149251 [Redact] [Redact] 33564089     Compliance Compliance Federal Compliance TRID Defect TRID Initial Closing Disclosure Timing without Waiver TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.  Note: file only contained the final CD.  The initial and any re-disclosed CD's were not in file.       Reviewer Comment (2025-06-05): [Redact] received [Redact] Initial CD, 3 business days prior to the consummation.


Seller Comment (2025-06-04): [Redact] Please see the attached TRID Disclosure History and initial Closing disclosure that shows the borrower was sent the initial Closing Disclosure on [Redact] and consented to it on [Redact] This meets the 3 business days before the closing date of [Redact]
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other No Defined Cure C B A A C B A A Non QM Non QM No
[Redact] 9150585 [Redact] [Redact] 33411453     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9150585 [Redact] [Redact] 33625931     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. (Type:Primary/[Redact])             06/11/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9150585 [Redact] [Redact] 33625932     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-06-11): Client elected to waive the condition on the Non-QM 1st lien
     06/11/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9151268 [Redact] [Redact] 33411685     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-06): Waived on Rate Lock: Collateral cleared by Custodian
 06/06/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9151268 [Redact] [Redact] 33552208     Compliance Compliance Federal Compliance TRID Defect TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Lender Credits. Final Lender Credit of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-06-04): [Redact] received rebuttal comment and rate lock to verify the pricing change.


Seller Comment (2025-06-03): "[Redact] Please see attached Rate Lock sheets and corresponding disclosure. On [Redact] the UW required a verification of 60 day bank statements, affecting the LLPA, negative pricing disclosed on the [Redact] CD
"
 06/04/2025     1 C A C A C A C A C A   [Redact] Second Home Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9151268 [Redact] [Redact] 33552210     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Second Appraisal Fee wasnt disclosed to the borrower on the LE, however the final CD shows the Fee Amount of [Redact], There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-04): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Seller Comment (2025-06-03): [Redact] Please see attached Closing Disclosure reflecting a tolerance credit of [Redact] for the Appraisal fee
 06/04/2025     1 C A C A C A C A C A   [Redact] Second Home Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9151268 [Redact] [Redact] 33554745     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             06/02/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9151268 [Redact] [Redact] 33554746     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             06/02/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9151268 [Redact] [Redact] 33570914     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-04): Sufficient Cure Provided At Closing
   06/04/2025   1   A   A   A   A   A   [Redact] Second Home Purchase Final CD evidences Cure C B A A C B A A Non QM Non QM Yes
[Redact] 9151269 [Redact] [Redact] 33411686     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C A A A C A A A Non QM Non QM No
[Redact] 9151269 [Redact] [Redact] 33521094     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Loan Discount Points Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] .. on Final Closing Disclosure dated [Redact]. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-06-27): [Redact] rate lock dated [Redact] for change in pricing.


Seller Comment (2025-06-25): on [Redact] the underwriters adjusted the loan level pricing adjusters to reflect 12 months of bank statements due to not receiving full 24 months of statements prior to being cleared to close. The loan still qualified to move forward with this change and discount point total increased to [Redact]


Reviewer Comment (2025-05-29): [Redact] Received Lock dated [Redact]; however, lock date is overridden on lock document. Kindly provide supporting COC for discount point increased or provide Cure Docs. A valid Changed Circumstance or cure is required.  Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check.


Seller Comment (2025-05-28): [Redact] Assets and liabilities were updated by underwriting on [Redact] which Decreased the DTI to 35.05% from 44.867% ([Redact]) which added a loan level pricing adjusters "Bank Statement Blue - 12 Months Bank Statement; CLTV 55.01-60%". A Closing Disclosure went out the same day to the borrower. Please see the attached Lock Confirmation and Closing Disclosure .
 06/27/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Non QM Non QM Yes
[Redact] 9151269 [Redact] [Redact] 33521095     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Second Appraisal Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact]on Final Closing Disclosure dated [Redact]. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-05-29): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Seller Comment (2025-05-28): Please see the attached Final Closing Disclosure and Tolerance Cure breakdown which shows the borrower was provided a credit at closing for the increase in the Appraisal Fee 2.
 05/29/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Non QM Non QM Yes
[Redact] 9151269 [Redact] [Redact] 33791972     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-27): Sufficient Cure Provided At Closing
   06/27/2025   1   A   A   A   A   A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure C A A A C A A A Non QM Non QM Yes
[Redact] 9152902 [Redact] [Redact] 33417429     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian
 06/10/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9152902 [Redact] [Redact] 33585502     Compliance Compliance Federal Compliance Federal HPML TIL Higher Priced Mortgage Loan Safe Harbor Test TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied. Safe Harbor requirements not satisfied due to Lender named on Appraisal differs from Lender on the Note.       Reviewer Comment (2025-06-18): Appraisal transfer letter provided


Seller Comment (2025-06-17): Please see the attached transfer letter.
 06/18/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9152902 [Redact] [Redact] 33585503     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-06): Client elected to waive the condition on the Non-QM 1st lien
     06/06/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9152902 [Redact] [Redact] 33590094     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-06): Sufficient Cure Provided At Closing
   06/06/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9152902 [Redact] [Redact] 33590095     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-06): Sufficient Cure Provided At Closing
   06/06/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9153152 [Redact] [Redact] 33417680     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-07): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9153152 [Redact] [Redact] 33817422     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business purpose certificate was missing in the file.       Reviewer Comment (2025-07-03): Business purpose cert provided


Seller Comment (2025-07-02): Please see attached business purpose certificate.
 07/03/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9153152 [Redact] [Redact] 33817424     Credit Missing Document General Missing Document Missing Document: Cash-Out Utilization not provided   Cash-out Utilization was not provided in the file.       Reviewer Comment (2025-07-03): Business purpose cert provided


Seller Comment (2025-07-02): Please see attached business purpose certificate.
 07/03/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9153152 [Redact] [Redact] 33817443     Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Minimum Loan Amount discrepancy. Note loan amount of ___ is less than Guideline minimum loan amount of ___. Client made an exception for the loan amount; however a copy of the Exception Approval was not in the file. Borrower has owned the subject property for at least 5 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 1.65 DSCR is 0.50 over min (1.15) [Redact]

[Redact]

Originator Pre-Close,Aggregator,[Redact]

[Redact]		 Reviewer Comment (2025-07-03): Client elected to waive the condition with the following Compensating Factors:
1.65 DSCR is 0.50 over min (1.15)
[Redact] REO equity
20 years property management experience.


Seller Comment (2025-07-02): Please see attached SLE.
     07/03/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9153152 [Redact] [Redact] 33819394     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   The file is missing a copy of the lease agreement used to qualify.       Reviewer Comment (2025-07-03): Lease agreement provided


Seller Comment (2025-07-02): Please see attached lease agreement.
 07/03/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
[Redact] 9153155 [Redact] [Redact] 33417902     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-20): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9153155 [Redact] [Redact] 33681728     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Note Addendum - Prepayment not provided   Upon further review, the file is missing a copy of the Executed Prepayment Penalty Addendum to the Note       Reviewer Comment (2025-06-19): Received Prepayment Penalty Note Addendum. Exception Cleared.


Seller Comment (2025-06-18): note
 06/19/2025     1   A   A   A   A   A   [Redact] Investment Purchase   A A A A     A A   N/A Yes
[Redact] 9153157 [Redact] [Redact] 33417987     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B B B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9153157 [Redact] [Redact] 33675993     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   Provide a copy of the final title policy or an addendum to the report verifying title insurance of at least the loan amount.             06/17/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B B B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9153159 [Redact] [Redact] 33418713     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-09): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
[Redact] 9153159 [Redact] [Redact] 33815925     Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Minimum Loan Amount discrepancy. Note loan amount of ___ is less than Guideline minimum loan amount of ___. Loan amount less than [Redact] to stay at 75% LTV on cash-out refinance. Compensating Factors: 767 FICO with 720 being minimum FICO for 75% LTV and 1.52 DSCR with 1.15 being the minimum for cash-out refinance. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50. :1.74 DSCR is .59 over min (1.15) Originator Pre-Close,Aggregator,[Redact] Reviewer Comment (2025-07-01): Client elect to waive with compensating factors:1.74 DSCR is .59 over min (1.15)
[Redact] REO equity
20 years property management experience.
     07/01/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
[Redact] 9153241 [Redact] [Redact] 33418867     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian
 06/13/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9153349 [Redact] [Redact] 33420097     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9153349 [Redact] [Redact] 33615339     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Not High Cost and Not Higher Priced The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). The declarations section of the initial 1003 identified the borrower would occupy the property as a primary residence.             06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9153353 [Redact] [Redact] 33420407     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9153353 [Redact] [Redact] 33615665     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___. Investor has reviewed and approved the exception for 80% LTV at 0.92 DSCR. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Liquid reserves of [Redact] 14 months where 6 is required 2X [Redact],Aggregator Reviewer Comment (2025-06-10): Client elected to waive the condition with the following Compensating Factors:
REO Equity of [Redact]
Credit Depth: 8 years mortgage history 8 years trade history paid as agreed
Liquid reserves of [Redact] 14 months where 6 is required 2X
     06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9153355 [Redact] [Redact] 33420510     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-26): Waived on Rate Lock: Collateral cleared by Custodian
 05/26/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33493178     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Disclosure) Federal High-Cost Mortgage Loan (Notice to Assignee) Truth in Lending Act (HOEPA): Required Statement was not provided to purchaser or assignee for loan that was sold or assigned. (Note: This notice only applies when selling or assigning a HOEPA loan and may not be found in the file for loans that have not been previously sold) The HOEPA Points and Fees were exceeded by [Redact].  The file is missing documentation identifying the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the remaining discount points are bona fide and can be excluded from the HOEPA Points and Fees testing.  Note: The lump sum seller credit of [Redact] was already excluded from the testing.       Reviewer Comment (2025-06-05): [Redact] received itemization of seller credit.


Seller Comment (2025-06-05): Disagree - Amount financed is [Redact]. Loan amount [Redact] - the prepaid finance charge of [Redact] = [Redact] + the seller credit of [Redact] = [Redact]. The Amount Finance * 5% = [Redact]. Total points and fees on this file is [Redact] as [Redact] on the discount points are covered by seller credit.


Reviewer Comment (2025-05-27): As mentioned in the initial comments, the [Redact] seller credit was already identified and reduced the HOEPA points and fees.  However, the total HOEPA points and fees of [Redact] exceeds the max allowable of [Redact] by [Redact].  [Redact] discount points, [Redact] loan origination fee to the broker, and [Redact] UW fee were the only fees included in the test.  Condition is valid and remains open


Seller Comment (2025-05-23): [Redact] A portion of the Discount charge are being covered by Seller Credits. Please see attached Itemization of Settlement Fees and Charges.
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33493179     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Disclosure) Federal High-Cost Mortgage Loan (HOEPA Disclosure Not Provided) Truth in Lending Act (HOEPA):  HOEPA disclosure was not provided to the Borrower The HOEPA Points and Fees were exceeded by [Redact].  The file is missing documentation identifying the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the remaining discount points are bona fide and can be excluded from the HOEPA Points and Fees testing.  Note: The lump sum seller credit of [Redact] was already excluded from the testing.       Reviewer Comment (2025-06-05): [Redact] received itemization of seller credit.


Seller Comment (2025-06-05): [Redact] Disagree - Amount financed is [Redact]. Loan amount [Redact] - the prepaid finance charge of [Redact] = [Redact] + the seller credit of [Redact] = [Redact]. The Amount Finance * 5% = [Redact]. Total points and fees on this file is [Redact] as [Redact] on the discount points are covered by seller credit.


Reviewer Comment (2025-05-27): As mentioned in the initial comments, the [Redact] seller credit was already identified and reduced the HOEPA points and fees.  However, the total HOEPA points and fees of [Redact] exceeds the max allowable of [Redact] by [Redact].  [Redact] discount points, [Redact] loan origination fee to the broker, and [Redact] UW fee were the only fees included in the test.  Condition is valid and remains open


Seller Comment (2025-05-23): [Redact] A portion of the Discount charge are being covered by Seller Credits. Please see attached Itemization of Settlement Fees and Charges.
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33493180     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Financed Points and Fees) Truth in Lending Act (HOEPA): Mortgage loan financed Points and Fees. The HOEPA Points and Fees were exceeded by [Redact].  The file is missing documentation identifying the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the remaining discount points are bona fide and can be excluded from the HOEPA Points and Fees testing.  Note: The lump sum seller credit of [Redact] was already excluded from the testing.       Reviewer Comment (2025-06-05): [Redact] received itemization of seller credit.


Seller Comment (2025-06-05): [Redact] Disagree - Amount financed is [Redact]. Loan amount [Redact] - the prepaid finance charge of [Redact] = [Redact] + the seller credit of [Redact] = [Redact]. The Amount Finance * 5% = [Redact]. Total points and fees on this file is [Redact] as [Redact] on the discount points are covered by seller credit.


Reviewer Comment (2025-05-27): As mentioned in the initial comments, the [Redact] seller credit was already identified and reduced the HOEPA points and fees.  However, the total HOEPA points and fees of [Redact] exceeds the max allowable of [Redact] by [Redact].  [Redact] discount points, [Redact] loan origination fee to the broker, and [Redact] UW fee were the only fees included in the test.  Condition is valid and remains open


Seller Comment (2025-05-23): [Redact] A portion of the Discount charge are being covered by Seller Credits. Please see attached Itemization of Settlement Fees and Charges.
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33493181     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Late Charge) Truth in Lending Act (HOEPA): Mortgage loan contains a late charge that exceeds the greater of 4% of the amount past due or grace period of less than 15 days. The HOEPA Points and Fees were exceeded by [Redact].  The file is missing documentation identifying the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the remaining discount points are bona fide and can be excluded from the HOEPA Points and Fees testing.  Note: The lump sum seller credit of [Redact] was already excluded from the testing.       Reviewer Comment (2025-06-05): [Redact] received itemization of seller credit.


Seller Comment (2025-06-05): [Redact] Disagree - Amount financed is [Redact]. Loan amount [Redact] - the prepaid finance charge of [Redact] = [Redact] + the seller credit of [Redact] = [Redact]. The Amount Finance * 5% = [Redact]. Total points and fees on this file is [Redact] as [Redact] on the discount points are covered by seller credit.


Reviewer Comment (2025-05-27): As mentioned in the initial comments, the [Redact] seller credit was already identified and reduced the HOEPA points and fees.  However, the total HOEPA points and fees of [Redact] exceeds the max allowable of [Redact] by [Redact].  [Redact] discount points, [Redact] loan origination fee to the broker, and [Redact] UW fee were the only fees included in the test.  Condition is valid and remains open


Seller Comment (2025-05-23): [Redact] A portion of the Discount charge are being covered by Seller Credits. Please see attached Itemization of Settlement Fees and Charges.
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33493182     Compliance Compliance Federal Compliance Federal Defect (Fed High Cost) Federal High-Cost Mortgage Loan (Points and Fees) Truth in Lending Act (High-Cost Mortgage): Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of  5.00000% of the Federal Total Loan Amount. Points and Fees of [Redact] on a Federal Total Loan Amount of [Redact] vs. an allowable total of [Redact] (an overage of [Redact] or [Redact]).  Non-Compliant High Cost Loan. The HOEPA Points and Fees were exceeded by [Redact].  The file is missing documentation identifying the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the remaining discount points are bona fide and can be excluded from the HOEPA Points and Fees testing.  Note: The lump sum seller credit of [Redact] was already excluded from the testing.       Reviewer Comment (2025-06-05): [Redact] received itemization of seller credit.


Seller Comment (2025-06-05): Disagree - Amount financed is [Redact]. Loan amount [Redact] - the prepaid finance charge of [Redact] = [Redact] + the seller credit of [Redact] = [Redact]. The Amount Finance * 5% = [Redact]. Total points and fees on this file is [Redact] as [Redact] on the discount points are covered by seller credit.


Reviewer Comment (2025-06-02): The lender lump sum credit of [Redact] for the discount points, a prepaid finance charge, reduced the Amount Financed to [Redact].  The max allowable points and fees is [Redact] (5% of the amount financed).  Condition is valid and remains open


Seller Comment (2025-05-30): [Redact] Disagree, the threshold for HOEPA is set off the amount financed of [Redact]. Loan amount of [Redact] minus the prepaid finance charge of [Redact] (due to [Redact] seller credit covering the discount points)  = [Redact]


Reviewer Comment (2025-05-27): As mentioned in the initial comments, the [Redact] seller credit was already identified and reduced the HOEPA points and fees.  However, the total HOEPA points and fees of [Redact] exceeds the max allowable of [Redact] by [Redact].  [Redact] discount points, [Redact] loan origination fee to the broker, and [Redact] UW fee were the only fees included in the test.  Condition is valid and remains open


Seller Comment (2025-05-23): [Redact] A portion of the Discount charge are being covered by Seller Credits. Please see attached Itemization of Settlement Fees and Charges.
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Purchase (1) Signed letter from borrower indicating their choice to either (a) accept refund and make loan non-high-cost or (b) keep loan as high-cost and make loan compliant; (2) Assuming option (a) is selected, a copy of refund check and proof of mailing; (3) Assuming option (b) is selected, proof of cure for each of the prohibited practices violations noted. C B B B C B A A Non QM Non QM Yes
[Redact] 9153355 [Redact] [Redact] 33493183     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Counseling Requirement) Truth in Lending Act (HOEPA): Borrower did not receive pre-loan counseling. The HOEPA Points and Fees were exceeded by [Redact].  The file is missing documentation identifying the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the remaining discount points are bona fide and can be excluded from the HOEPA Points and Fees testing.  Note: The lump sum seller credit of [Redact] was already excluded from the testing..       Reviewer Comment (2025-06-05): [Redact] received itemization of seller credit.


Seller Comment (2025-06-05): Disagree - Amount financed is [Redact]. Loan amount [Redact] - the prepaid finance charge of [Redact] = [Redact] + the seller credit of [Redact] = [Redact]. The Amount Finance * 5% = [Redact]. Total points and fees on this file is [Redact] as [Redact] on the discount points are covered by seller credit.


Reviewer Comment (2025-05-27): As mentioned in the initial comments, the [Redact] seller credit was already identified and reduced the HOEPA points and fees.  However, the total HOEPA points and fees of [Redact] exceeds the max allowable of [Redact] by [Redact].  [Redact] discount points, [Redact] loan origination fee to the broker, and [Redact] UW fee were the only fees included in the test.  Condition is valid and remains open


Seller Comment (2025-05-23): [Redact] A portion of the Discount charge are being covered by Seller Credits. Please see attached Itemization of Settlement Fees and Charges.
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33493184     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact].       Reviewer Comment (2025-05-22): Client elected to waive the condition on the Non-QM 1st lien
     05/22/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B B B C B A A Non QM Non QM Yes
[Redact] 9153355 [Redact] [Redact] 33493217     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             05/22/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33502161     Compliance Compliance Federal Compliance TRID Defect TRID Closing Disclosure Lump Sum Allocation Lump sum lender/seller credit disclosed on Closing Disclosure applied to offset finance charges based on separate itemization of credit pursuant to client's election. If there is not an itemization of credit in file, lump sum credit applied using waterfall (non-finance charges first, then finance charges).         Reviewer Comment (2025-06-05): [Redact] received itemization of seller credit.
 06/05/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B B B C B A A Non QM Non QM No
[Redact] 9153355 [Redact] [Redact] 33502162     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-21): Sufficient Cure Provided At Closing
   05/21/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C B B B C B A A Non QM Non QM Yes
[Redact] 9153355 [Redact] [Redact] 33502163     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-21): Sufficient Cure Provided At Closing
   05/21/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C B B B C B A A Non QM Non QM Yes
[Redact] 9154152 [Redact] [Redact] 33424199     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B B B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9154152 [Redact] [Redact] 33614477     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. Provide a copy of the final title policy or an addendum to the report verifying title insurance of at least the loan amount.             06/10/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9154213 [Redact] [Redact] 33424331     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-18): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/23/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9154403 [Redact] [Redact] 33425434     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-18): Waived on Rate Lock: Collateral cleared by Custodian
 06/18/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9154403 [Redact] [Redact] 33620154     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-10): Client elected to waive the condition on the Non-QM 1st lien
     06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9154403 [Redact] [Redact] 33623337     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Rider - PUD not provided   The appraisal identified the subject as a PUD.  The file is missing a copy of the PUD Rider attached to the Deed of Trust. Provide a copy of the PUD Rider and proof that the DOT will be re-recorded with the rider.  If the subject is not a PUD, provide a revised appraisal correcting the property type.       Reviewer Comment (2025-06-20): Revised appraisal and confirmation from the title company confirming the property is not a PUD


Seller Comment (2025-06-20): Property confirmed not in a PUD
 06/20/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9154405 [Redact] [Redact] 33425742     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian
 06/13/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9154405 [Redact] [Redact] 33586070     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided             06/06/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9154405 [Redact] [Redact] 33586073     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. No cure was provided to the borrower at Closing.       Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9154407 [Redact] [Redact] 33425744     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-05-26): Waived on Rate Lock: Collateral cleared by Custodian
 05/26/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9155632 [Redact] [Redact] 33431597     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-05): ORG Note tracking POD
 06/10/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9155632 [Redact] [Redact] 33562153     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided           Reviewer Comment (2025-06-06): Received Business Purpose Certificate. Exception Cleared.


Seller Comment (2025-06-05): Business Purpose and Non-Owner Occupancy Affidavit
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9155706 [Redact] [Redact] 33432048     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-04): Waived on Rate Lock: Collateral cleared by Custodian
 06/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9155706 [Redact] [Redact] 33549659     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-02): Client elected to waive the condition on the Non-QM 1st lien
     06/02/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A C B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9155706 [Redact] [Redact] 33554351     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - High Cost as Primary The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). If tested as primary residence, loan exceeds one or more high cost thresholds. The initial and final 1003 identified the co-borrower would occupy the subject as a primary residence.  The loan failed the High-Cost testing due to the prepayment penalty of 5% for 1 year, exceeds the max of 2% of the amount prepaid.       Reviewer Comment (2025-06-25): Client elected to waive the condition


Reviewer Comment (2025-06-25): Downgrade to EV2-B with borrower attestation.


Seller Comment (2025-06-25): attestation


Reviewer Comment (2025-06-19): LOE from the borrower provided; however as stated in the previous rebuttal comments, an attestation from the co-borrower in question identifying the reason why the declarations section identified the property would be occupied as a primary residence is required.  The LOE did not identify the reason for the selection in the declarations section.  Condition remains


Seller Comment (2025-06-18): LOE for occupancy.


Reviewer Comment (2025-06-10): The 1003 in the original file (doc id 0512) identified the property would be occupied as a primary residence.  The condition is valid.  In order to consider downgrading the condition, an attestation from the co-borrower in question identifying the reason why the declarations section identified the property would be occupied as a primary residence is required.  Without the attestation directly from the co-borrower, the condition will remain open and remain graded an EV3/C.  No other documentation besides the attestation will be acceptable.  Condition remains


Seller Comment (2025-06-09): This same initial 1003 can be found in the loan file - D0510 page 31.


Seller Comment (2025-06-09): This was a result of a system/clerical error when the initial disclosures were sent over from [Redact] and input into the system. As you can see with the initial disclosure package, and uploaded again for reference, the initial 1003 that was eSigned on [Redact] does have the correct subject occupancy declaration for [Redact] - as "NO". Unfortunately this was not caught prior to closing and the final 1003 showed an incorrect entry of 'YES', which was corrected post-close to match this initial 1003 with the correct answer. None of the borrowers occupy the subject property.


Seller Comment (2025-06-09): CB - Initial disclosure 1003 from [Redact] with the subject occupancy declaration completed correctly - as NO.


Reviewer Comment (2025-06-09): An attestation from the co-borrower ([Redact]) identifying the reason for the declarations section of the initial and final 1003 identified the property would be occupied as a primary residence is required.  The attestation will be reviewed when received to determine if the condition can be downgraded.  Condition remains


Seller Comment (2025-06-06): 1003
     06/25/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9155706 [Redact] [Redact] 33559013     Credit Loan Package Documentation Application / Processing Loan Package Documentation Mismatch of data related to Occupancy. - The initial and final 1003 identified the co-borrower would occupy the subject as a primary residence.  Provide a revised 1003 correcting the declarations section.       Reviewer Comment (2025-06-09): Revised 1003 correcting the declarations section was provided


Seller Comment (2025-06-06): Insurance Verification


Seller Comment (2025-06-06): 1003
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9155706 [Redact] [Redact] 33559015     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing documentation to verify the T&I for the REO.       Reviewer Comment (2025-06-09): Documentation to verify the housing expenses was provided
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9155706 [Redact] [Redact] 33559016     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing documentation to verify the taxes, insurance, and HOA if applicable for the REO property.       Reviewer Comment (2025-06-08): Received tax, insurance and HOA. Exception Cleared.


Seller Comment (2025-06-06): Verifications
 06/08/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9155708 [Redact] [Redact] 33432135     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-24): Waived on Rate Lock: Collateral cleared by Custodian
 06/24/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9155708 [Redact] [Redact] 33678932     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-18): Client elected to waive the condition on the Non-QM 1st lien
     06/18/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9155709 [Redact] [Redact] 33432158     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-11): (Rate Lock) [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9155772 [Redact] [Redact] 33432634     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-30): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9155773 [Redact] [Redact] 33432638     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): (Rate Lock) [Redact]
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9155773 [Redact] [Redact] 33676795     Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   Required the proof of access for the business account using to qualify, detailing the borrower's ownership percentage and access to available funds.       Reviewer Comment (2025-06-20): Evidence of access to the business funds was provided


Seller Comment (2025-06-20): Secretary of State search - 100% ownership


Seller Comment (2025-06-20): Proof of business ownership
 06/20/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9155776 [Redact] [Redact] 33433268     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9155776 [Redact] [Redact] 33747608     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             06/25/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9155776 [Redact] [Redact] 33747612     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Loan Discount Points Fee Amount was last disclosed to the borrower as [Redact], the final CD show the Fee as [Redact]. There was no valid Changed Circumstance in the file and no lender credit to cover the cost to cure.       Reviewer Comment (2025-06-27): [Redact] received a valid COC.


Seller Comment (2025-06-26): [Redact] On [Redact] there was a relock on the file that caused pricing to increase. On wholesale loans lock actions are acceptable changes and circumstance. A Closing Disclosure went out to the Borrower on the next day. Pricing for the rate ended at -1.259% or -[Redact] with lender paid compensation of [Redact] and a Final Cost to the Borrower of 0.443% or [Redact]. Please see attached lock confirmation and Closing Disclosure.
 06/27/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9155778 [Redact] [Redact] 33433271     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian
 06/13/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9155778 [Redact] [Redact] 33585036     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9155778 [Redact] [Redact] 33585037     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Re-Inspection Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9155786 [Redact] [Redact] 33433542     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B B B A A A A Non QM Non QM No
[Redact] 9155786 [Redact] [Redact] 33670941     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             06/17/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   B B B B A A A A Non QM Non QM No
[Redact] 9135963 [Redact]   33451393     Credit Credit Miscellaneous Guideline Credit Exception:   The lender qualified with a PITIA of [Redact].  The documentation in file verified a PITIA of [Redact] (P&I [Redact] + HOI [Redact] + Taxes [Redact]).  Unable to determine the taxes and insurance used by the lender to qualify.       Reviewer Comment (2025-05-19): PITIA calculated is accurate and lender agrees to diligence PITIA values.


Seller Comment (2025-05-19): [Redact] value of [Redact] is correct, [Redact] insurance value is based on the initial quote which was not accurate.

Agreed to [Redact] value and this will be addressed with [Redact]


Reviewer Comment (2025-05-16): Additional copies of the HOI and tax cert that were provided in the initial file were received.  The HOI verified a premium of [Redact]; however per the tape, the lender qualified with HOI of [Redact].  Please confirm if the tape contained an error and the actual premium of [Redact] is correct or if there is an additional policy not provided in the file to include in the PITIA and DSCR calculations. Condition remains


Seller Comment (2025-05-15): Insurance binder with premium and tax cert used to qualify the loan has been uploaded
 05/19/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9135979 [Redact]   33454060     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-06-09): Additional assets provided and this account was not used


Seller Comment (2025-06-06): Verification of account statement uploaded


Seller Comment (2025-05-29): Assets provided - moving to Buyer's


Reviewer Comment (2025-05-29): New assets provided from account xx[Redact] for [Redact] and [Redact]. However the complete statements were not provided.  The [Redact] statement provided were pages 8-16 of 22 and the [Redact] statement provided were pages 9-16 of 22.  Provide all 22 pages for the [Redact] and [Redact] statements and the assets will be updated.  Condition remains


Seller Comment (2025-05-29): provided bank statement covers sufficient liquidity to close and payment reserves, and operating agreemt to confirm the statements belongs to the borrower had already been uploaded.


Reviewer Comment (2025-05-29): Provided bank statement is not belongs to account #[Redact]. Required 2 months consecutive statements for asset verification. Exception Remains.


Seller Comment (2025-05-28): 2 months consecutive statements


Seller Comment (2025-05-28): 2 months consecutive statements uploaded


Reviewer Comment (2025-05-15): As per guideline, required 2 months consecutive statements to clear this condition. Exception Remains.


Seller Comment (2025-05-15): [Redact] account wirh Operatign agreement uploaded with enough liquidity
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9135979 [Redact]   33454066     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-06-06): Additional assets provided and this account was not used


Seller Comment (2025-06-06): Verification of account statement uploaded


Seller Comment (2025-05-29): Assets provided - moving to Buyer's


Reviewer Comment (2025-05-29): New assets provided from account xx[Redact] for [Redact] and [Redact]. However the complete statements were not provided.  The [Redact] statement provided were pages 8-16 of 22 and the [Redact] statement provided were pages 9-16 of 22.  Provide all 22 pages for the [Redact] and [Redact] statements and the assets will be updated.  Condition remains


Seller Comment (2025-05-29): provided bank statement covers sufficient liquidity to close and payment reserves, and operating agreemt to confirm the statements belongs to the borrower had already been uploaded.


Reviewer Comment (2025-05-29): Provided bank statement is not belongs to account #[Redact]. Required 2 months consecutive statements for asset verification. Exception Remains.


Seller Comment (2025-05-28): 2 months consecutive statements
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9135979 [Redact]   33454068     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-06-06): Additional assets provided and this account was not used


Seller Comment (2025-06-06): Verification of account statement uploaded


Seller Comment (2025-05-29): Assets provided - moving to Buyer's


Reviewer Comment (2025-05-29): New assets provided from account x[Redact] for [Redact] and [Redact]. However the complete statements were not provided.  The [Redact] statement provided were pages 8-16 of 22 and the [Redact] statement provided were pages 9-16 of 22.  Provide all 22 pages for the [Redact] and [Redact] statements and the assets will be updated.  Condition remains


Seller Comment (2025-05-29): provided bank statement covers sufficient liquidity to close and payment reserves, and operating agreemt to confirm the statements belongs to the borrower had already been uploaded.


Reviewer Comment (2025-05-29): Provided bank statement is not belongs to account #[Redact]. Required 2 months consecutive statements for asset verification. Exception Remains.


Seller Comment (2025-05-28): 2 months consecutive statements
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9135979 [Redact]   33454072     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-06-06): Additional assets provided and this account was not used


Seller Comment (2025-06-06): Verification of account statement uploaded


Seller Comment (2025-05-29): Assets provided - moving to Buyer's


Reviewer Comment (2025-05-29): New assets provided from account xx[Redact] for [Redact] and [Redact]. However the complete statements were not provided.  The [Redact] statement provided were pages 8-16 of 22 and the [Redact] statement provided were pages 9-16 of 22.  Provide all 22 pages for the [Redact] and [Redact] statements and the assets will be updated.  Condition remains


Seller Comment (2025-05-29): provided bank statement covers sufficient liquidity to close and payment reserves, and operating agreemt to confirm the statements belongs to the borrower had already been uploaded.


Reviewer Comment (2025-05-29): Provided bank statement is not belongs to account #[Redact]. Required 2 months consecutive statements for asset verification. Exception Remains.


Seller Comment (2025-05-28): 2 months consecutive statements
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9135979 [Redact]   33454074     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-06-06): Additional assets provided and this account was not used


Seller Comment (2025-06-06): Verification of account statement uploaded


Seller Comment (2025-05-29): Assets provided - moving to Buyer's


Reviewer Comment (2025-05-29): New assets provided from account xx[Redact] for [Redact] and [Redact]. However the complete statements were not provided.  The [Redact] statement provided were pages 8-16 of 22 and the [Redact] statement provided were pages 9-16 of 22.  Provide all 22 pages for the [Redact] and [Redact] statements and the assets will be updated.  Condition remains


Seller Comment (2025-05-29): provided bank statement covers sufficient liquidity to close and payment reserves, and operating agreemt to confirm the statements belongs to the borrower had already been uploaded.


Reviewer Comment (2025-05-29): Provided bank statement is not belongs to account #[Redact]. Required 2 months consecutive statements for asset verification. Exception Remains.


Seller Comment (2025-05-28): 2 months consecutive statements uploaded
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9135979 [Redact]   33454187     Credit Guideline Guideline Issue Guideline The borrower has Open Public Records/Collections/Charge Off accounts. - Public Record type:  ___; Account Status: ___ Collections Must Be Paid in Full or in Satisfactory Status and Borrower must provide evidence of being current on payment plan for a minimum of 6 months prior to close. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 • Reserves: 21.44m > 6m required

• LTV: 68% < 80% max

• FICO: 741 > 700 min		 [Redact],Aggregator

Aggregator,[Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-06-12): Client elected to waive the condition with the following Compensating Factors:
• LTV: 68% < 80% max
• FICO: 741 > 700 min
• Reserves: 21.44m > 6m required


Reviewer Comment (2025-06-06): Elevated to the client for review.  Guides require collections to be paid in full.


Seller Comment (2025-06-06): Verification of account statement uploaded


Seller Comment (2025-05-29): Its under [Redact] and bororwer has more in the bank than that. Elevating to Byuer's review


Reviewer Comment (2025-05-29): The guidelines do not specify that the collections < [Redact] are not required to be paid off and state all must be paid in full or in a satisfactory status prior to close.  Condition remains


Seller Comment (2025-05-22): Its under [Redact] and bororwer has more in the bank than that.
     06/12/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9135979 [Redact]   33454191     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.           Reviewer Comment (2025-06-06): Additional assets provided


Seller Comment (2025-06-06): Verification of account statement uploaded


Seller Comment (2025-05-29): Assets provided - moving to Buyer's


Reviewer Comment (2025-05-29): New assets provided from account xx[Redact] for [Redact] and [Redact]. However the complete statements were not provided.  The [Redact] statement provided were pages 8-16 of 22 and the [Redact] statement provided were pages 9-16 of 22.  Provide all 22 pages for the [Redact] and [Redact] statements and the assets will be updated.  Condition remains


Seller Comment (2025-05-28): 2 months consecutive statements covering payment reserves uploaded
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9135987 [Redact]   33440396     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Calculated PITIA months reserves of 3.48 is less than Guideline PITIA months reserves of 6.00.       Reviewer Comment (2025-05-14): Additional assets provided


Seller Comment (2025-05-13): Updated statement uploaded
 05/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C A C A     A A   N/A No
[Redact] 9135987 [Redact]   33440619     Credit Business Purpose General Business Purpose Insufficient funds for Reserves.   Guidelines require [Redact]  of reserves, and verified reserves are [Redact].       Reviewer Comment (2025-05-14): Additional assets provided


Seller Comment (2025-05-13): Updated statement uploaded
 05/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C A C A     A A   N/A No
[Redact] 9135987 [Redact]   33440629     Credit Asset Asset Documentation Asset Insufficient funds for Reserves. Guidelines require   Guidelines require [Redact]  of reserves, and verified reserves are [Redact].       Reviewer Comment (2025-05-14): Additional assets provided


Seller Comment (2025-05-13): Updated statement uploaded
 05/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C A C A     A A   N/A No
[Redact] 9135991 [Redact]   33442110     Credit Insurance Insurance Documentation Insurance Missing Document: Flood Insurance Policy not provided   Flood Insurance premium not verified on declarations page       Reviewer Comment (2025-05-22): Breakdown of the total premium verifying the HOI and flood premiums was provided


Seller Comment (2025-05-21): Breakdown of the premium from insurance agency uploaded
Flood insurance premium: [Redact]
Property insurance premium: [Redact]


Seller Comment (2025-05-21): Breakdown of the premium from insurance agency uploaded


Reviewer Comment (2025-05-19): Rebuttal reviewed; Invoice is for the combined premium of HOI and Flood;  however a breakdown of the HOI and Flood premiums is required.  Condition remains


Seller Comment (2025-05-16): we underwrote higher insurance value from the initial qoute to have a conservative DSCR and the final insurance is actually lesser than the initial quote, and this is a package which combines both property and flood insurance


Reviewer Comment (2025-05-16): Per the tape data, the lender qualified with annual insurance of [Redact].  The invoice for [Redact] was captured as the premium for the HOI, unable to determine the additional [Redact] in insurance costs included in the lender's PITIA calculation.  A breakdown of the premium for the Property/Liability/Flood coverage is required.  Condition is valid and remains open


Seller Comment (2025-05-15): The insurance file is a package through the same Insurance program, [Redact] the total of [Redact]. That is why we uploaded as a package property/Liability and Flood


Reviewer Comment (2025-05-14): An additional copy of the flood insurance dec page provided and the premium is still not identified. Provide proof of the premium for the Flood Insurance.  Condition remains


Seller Comment (2025-05-13): Flood insuance uploaded
 05/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C A C A     A A   N/A No
[Redact] 9135994 [Redact]   33452756     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Certified HUD dated [Redact] is illegible.       Reviewer Comment (2025-05-16): Legible HUD provided


Seller Comment (2025-05-15): HUD uploaded
 05/16/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9135994 [Redact]   33452961     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-05-15): Received bank statement. Exception Cleared.


Seller Comment (2025-05-15): 2 months bank statements uploaded
 05/15/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9136004 [Redact]   33458457     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   Authorization to obtain consumer and credit reports and release not provided.       Reviewer Comment (2025-05-18): Received Borrower Authorization. Exception Cleared.


Seller Comment (2025-05-16): Authorization uploade
 05/18/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9136006 [Redact]   33455764     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The tax cert in file states that taxes were issued on the Parent Parcel and no taxes nor individual assessments were yet issued for the subject.       Reviewer Comment (2025-05-15): Received appraisal. Exception Cleared.


Seller Comment (2025-05-15): The tax document provided is for the entire condo and has a total tax amount of [Redact] + [Redact] = [Redact] (for 120 units). File was underwritten using the tax value sourced from the appraisal. Appraisal uploaded
 05/15/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9136016 [Redact]   33442373     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-05-19): Insurance company confirmation verifying guaranteed replacement cost coverage provided


Seller Comment (2025-05-16): RCE uploaded
 05/19/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9136028 [Redact]   33472392     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing. Hazard Insurance Policy Effective Date ___, Disbursement Date: ___ The Hazard Insurance Policy Effective Date of [Redact]  is after the disbursement, note and transaction date of [Redact].       Reviewer Comment (2025-05-21): Received Insurance policy with effective date of [Redact]. Exception Cleared.


Seller Comment (2025-05-20): Binders uploaded


Seller Comment (2025-05-20): Two insuance binders one with effective date of [Redact] - [Redact] and [Redact] to [Redact] uploaded
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33473917     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Tax worksheet already uploaded, tax value is based on the average of the comparables, reuploading the tax worksheet in pdf.


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): This is a New construction, tax is based on the average of the comparable properties.
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33473970     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474042     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474067     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474085     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474093     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474103     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474110     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474147     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc


Seller Comment (2025-05-19): This is a New construction, tax is based on the average of the comparable properties.
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136029 [Redact]   33474158     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Address: [Redact] The file is missing the tax cert or other documentation to verify the taxes used to qualify. The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-20): Received tax certificate. Exception Cleared.


Seller Comment (2025-05-20): Doc


Reviewer Comment (2025-05-19): Required source document or tax calculation sheet to verify taxes used to qualify. Exception Remains.


Seller Comment (2025-05-19): Doc
 05/20/2025     1 C A C A C A C A C A     Investment Purchase   C A C A     A A   N/A No
[Redact] 9136040 [Redact]   33485226     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   The Authorization to obtain consumer and credit reports and release is missing in the file.       Reviewer Comment (2025-05-21): Received borrower authorization. Exception Cleared.


Seller Comment (2025-05-21): CAF


Seller Comment (2025-05-21): Revised document uploaded


Reviewer Comment (2025-05-21): Provided Borrower Authorization information is not visible. Please provide complete legible copy of Authorization. Exception Remains.


Seller Comment (2025-05-20): Credit authorizaion uploaded
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9136042 [Redact]   33481547     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Missing Final HUD.       Reviewer Comment (2025-05-27): HUD provided


Seller Comment (2025-05-23): HUD


Seller Comment (2025-05-23): HUD uploaded


Reviewer Comment (2025-05-21): The HUD provided was marked Preliminary and did not contain any lender charges or verify the PITIA reserves.  Also, the HUD did not match the terms of the loan.  The loan amount on the Note was [Redact] and the HUD shows a loan amount of [Redact]  Provide a copy of the final HUD matching the terms of the loan.  Condition remains


Seller Comment (2025-05-20): HUD uploaded
 05/27/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9136047 [Redact]   33481535     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-05-21): Received replacement cost estimate. Exception Cleared.


Seller Comment (2025-05-20): RCE


Seller Comment (2025-05-20): RCE uploaded
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9157021 [Redact] [Redact] 33437433     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): (Rate Lock) Delivered [Redact] via [Redact] # [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D B D A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9157021 [Redact] [Redact] 33709901     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   The file is missing a copy of Purchase Agreement.       Reviewer Comment (2025-06-24): Purchase agreement provided


Seller Comment (2025-06-23): (Rate Lock) Purchase Agreement
 06/24/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D B D A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9157021 [Redact] [Redact] 33709935     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             06/20/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   D B D A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9157021 [Redact] [Redact] 33709936     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             06/20/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   D B D A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9157229 [Redact] [Redact] 33438518     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian
 06/10/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9157229 [Redact] [Redact] 33579043     Credit Disclosure Missing Document Disclosure E-sign Consent Agreement is missing. - The file is missing copy of signed E-Sign Consent Agreement.       Reviewer Comment (2025-06-08): Received E-Sign consent. Exception Cleared.


Seller Comment (2025-06-06): [Redact] - [Redact]: Please see attached.
 06/08/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9158355 [Redact] [Redact] 33438881     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian
 06/16/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9158355 [Redact] [Redact] 33583708     Credit Loan Package Documentation Application / Processing Loan Package Documentation Mismatch of data related to Occupancy. - Final Loan Application Section 5 Declarations reflects to occupy as primary residence.  Provide a revised 1003 for the co-borrower, correcting the declarations section.       Reviewer Comment (2025-06-12): Revised 1003 provided


Seller Comment (2025-06-10): Revised 1003
 06/12/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9158355 [Redact] [Redact] 33583743     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact]       Reviewer Comment (2025-06-06): Client elected to waive the condition on the Non-QM 1st lien
     06/06/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A C B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9158355 [Redact] [Redact] 33584552     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - High Cost as Primary The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). If tested as primary residence, loan exceeds one or more high cost thresholds. The final 1003 identified the co-borrower would occupy the subject as a primary residence.  The loan failed the High-Cost testing due to the prepayment penalty of 3%, 2%, 1% for 3 years, exceeds the max of 2% of the amount prepaid.       Reviewer Comment (2025-07-02): Client elected to waive the condition


Reviewer Comment (2025-07-02): Downgrade to EV2-B with borrower attestation.


Seller Comment (2025-07-02): LOX


Reviewer Comment (2025-06-17): In order to downgrade the condition an attestation from the co-borrower, who executed the incorrect 1003, is required.  Without the attestation from the borrower, the condition will remain an EV3/C and is ineligible for purchase.  Condition is valid and remains open


Seller Comment (2025-06-16): An attestation from the borrower should not be required as this was a Rate error. This was incorrectly marked in our system for only the final 1003. The initial 1003 evidences this would not be a primary residence and our system incorrectly evidenced this as a primary on the final 1003. The borrower did not incorrectly advise us of the intended occupancy.


Reviewer Comment (2025-06-13): A revised 1003 will not clear this condition.  The loan failed High Cost testing when tested as a primary residence.  In order to consider a downgrade of the condition, an attestation from the BORROWER(s) detailing the reason for the error in the declarations section of the 1003 and confirming the occupancy is required.  Condition is valid and remains open


Seller Comment (2025-06-12): Please waive this condition as a revised 1003 was provided and this appears to be linked to the other conditions.
     07/02/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9158616 [Redact] [Redact] 33442628     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-18): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/18/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9158730 [Redact] [Redact] 33442859     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-05-23): [Redact]
 06/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B A A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9158730 [Redact] [Redact] 33497420     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-05-21): Client elected to waive the condition on the Non-QM 1st lien
     05/21/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9158730 [Redact] [Redact] 33502157     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Not Tested As Primary The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment).  Determination has not been made as to whether the loan would be High Cost and/or HPML if ran as a Primary Residence. The initial 1003 identified the borrower would occupy the subject as a primary residence.  The loan fails the high-cost testing due to the prepayment penalty is more than 2% of the amount prepaid.       Reviewer Comment (2025-06-19): Client elected to waive the condition.  An attestation from the borrower was provided verifying a clerical error on the initial 1003.  All other docs in file support the occupancy of investment.


Reviewer Comment (2025-06-19): Downgrade to EV2-B with borrower attestation.


Seller Comment (2025-06-18): LOX


Reviewer Comment (2025-05-28): The processors cert is not acceptable.  An Attestation from the borrower identifying the error in the declarations section is required.  Condition is valid and remains open


Seller Comment (2025-05-28): Processor Cert


Reviewer Comment (2025-05-23): An additional copy of the LOE included in the initial file was provided.  This will not clear the condition.  An attestation from the borrower identifying the reason the declarations section of the initial 1003 identifying the property would be occupied as a primary residence was an error.  Once provided, the attestation will be reviewed to determine if the condition can be downgraded.  Condition remains


Seller Comment (2025-05-23): LOX
     06/19/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B A A C B A A Exempt from ATR Exempt from ATR No
[Redact] 9158961 [Redact] [Redact] 33444585     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9158961 [Redact] [Redact] 33521152     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Second Appraisal Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] on Final Closing Disclosure dated [Redact]. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-05-27): Sufficient Cure Provided At Closing
   05/27/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9158971 [Redact] [Redact] 33445081     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): (Rate Lock) [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9158971 [Redact] [Redact] 33678129     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   The file was missing a copy of the Business Purpose Certificate.       Reviewer Comment (2025-07-27): Received business purpose certificate. Exception Cleared.


Seller Comment (2025-07-24): See attached Business Purpose Certificate.  Please cancel
 07/27/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9158971 [Redact] [Redact] 33678131     Credit Missing Document General Missing Document Missing Document: Cash-Out Utilization not provided   The file was missing a copy of the Cash-Out Utilization.       Reviewer Comment (2025-06-29): Received LOX. Exception Cleared.


Seller Comment (2025-06-27): Attached the LOE for the Cash Out.
 06/29/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9159051 [Redact] [Redact] 33445154     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9159699 [Redact] [Redact] 33448825     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9159699 [Redact] [Redact] 33678050     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-17): Client elected to waive the condition on the Non-QM 1st lien
     06/17/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9160226 [Redact] [Redact] 33448869     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9160227 [Redact] [Redact] 33449104     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-10): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/16/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9160227 [Redact] [Redact] 33905200     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Monthly P\&I does not agree with Schedule SCH: [Redact]               NOTE: [Redact] more info here       Buyer Comment (2025-07-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-11): Please match the schedule to the Note.
 07/16/2025     1   A   A   A   A   A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9160228 [Redact] [Redact] 33449400     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-01): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-26): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:57 am.
 07/01/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9160229 [Redact] [Redact] 33449401     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian
 06/10/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A C A A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9160229 [Redact] [Redact] 33592146     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing a copy of the Tax Certificate used to qualify the borrower,the lender used a higher amount than what is on the tax certificate provided.       Reviewer Comment (2025-06-18): Revised 1008 and AUS provided updating the taxes verified in the file


Seller Comment (2025-06-17): (Rate Lock) AUS


Reviewer Comment (2025-06-17): A revised DU approval was still not provided.  The 1008, tax cert and credit report were resent, but the file is missing a revised DU approval.  Condition remains


Seller Comment (2025-06-16): (Rate Lock) AUS


Seller Comment (2025-06-16): (Rate Lock) tax cert


Reviewer Comment (2025-06-16): Revised 1008 provided updating the tax amount used to qualify.  The file is missing a revised DU approval matching the terms of the loan, including the updated tax amount.  Condition remains


Seller Comment (2025-06-13): (Rate Lock) 1008 and AUS


Reviewer Comment (2025-06-09): An additional copy of the tax cert in the initial file was provided.  The lender qualified with taxes of [Redact] per month or [Redact] per year.  The tax cert in file verified the 2025 quarter 1 and quarter 2 taxes of [Redact] and [Redact] which calculates to [Redact] per year or [Redact] per month.  Provide documentation to verify the higher taxes used to qualify.  Condition remains


Seller Comment (2025-06-09): (Rate Lock) tax cert and le [Redact]
 06/18/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9160229 [Redact] [Redact] 33592165     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Survey Fee wasn't disclosed to the borrower on Loan Estimate, the final CD disclosed the survey fee as [Redact] on Final Closing Disclosure dated [Redact]. the File does not contain a valid COC for this fee, nor a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-16): [Redact] received Post CD, LOX and also lender attestation stating the survey was not required by lender.


Seller Comment (2025-06-13): (Rate Lock) LOX


Seller Comment (2025-06-13): (Rate Lock) Pccd and attestation


Reviewer Comment (2025-06-10): [Redact] receied LE dated [Redact].We are unable to determine from the file whether the lender or title company requried the survey.  If the lender required the survey fee then a cure is due to the borrower.  If the borrower-chosen service provider further outsourced the Survey Fee, an attestation or comment on exception from the seller is needed.  The attestation/letter should confirm that the service was outsourced by the borrower-chosen provider. This attestation would allow us to test the fee under the no tolerance category with the understanding that the new fee added on the CD was imposed by a provider through which the borrower indirectly selected.


Seller Comment (2025-06-09): (Rate Lock) tax cert and le [Redact]
 06/16/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A C A C A A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) Yes
[Redact] 9160480 [Redact] [Redact] 33451165     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9160480 [Redact] [Redact] 33528823     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-05-29): Client elected to waive the condition on the Non-QM 1st lien
     05/29/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9160480 [Redact] [Redact] 33538750     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-29): Sufficient Cure Provided At Closing
   05/29/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9160479 [Redact] [Redact] 33451222     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-18): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-18): please advise if there is anything else needed for this loan


Seller Comment (2025-06-09): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/18/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9160515 [Redact] [Redact] 33451370     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9162606 [Redact] [Redact] 33454773     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-10): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9162607 [Redact] [Redact] 33454814     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-17): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9162607 [Redact] [Redact] 33639476     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-07-16): Sufficient coverage provided. Exception Cleared.


Seller Comment (2025-07-15): Where are they getting coverage amount due on the property of [Redact]? The property is only worth [Redact] and there is no cost to rebuild data in the appraisal  Desk review shows [Redact] as well.
 07/16/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9155721 [Redact]   33468386     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy effective date is after the funds disbursed.   Hazard Insurance Policy effective date is [Redact] that is after the later of the disbursement, note or transaction date.       Reviewer Comment (2025-05-16): Revised dec page provided


Seller Comment (2025-05-16): Updated HOI - effective date [Redact]
 05/16/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155721 [Redact]   33468395     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Buyer Comment (2025-05-16): Initial and Final Grade B, accepted
     05/16/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Non QM Non QM Yes
[Redact] 9155732 [Redact]   33481416     Credit System General Appraisal Reconciliation Valuation address does not match Note address. - Appraisal and CDA street number of [Redact]. does not match the Note street number of [Redact].  Provide a revised appraisal and CDA.       Reviewer Comment (2025-06-06): Corrected CDA and appraisal provided


Seller Comment (2025-06-06): Revised CDA


Reviewer Comment (2025-06-03): Revised appraisal provided correcting the street address; however a revised CDA is also required.  Condition remains


Seller Comment (2025-06-02): Revised Appraisal
 06/06/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155732 [Redact]   33481487     Compliance Compliance Federal Compliance Federal HPML TIL Higher Priced Mortgage Loan Safe Harbor Test TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied. The appraisals are not in the name of the lender.  Transfer letter in file.       Buyer Comment (2025-05-20): Initial and Final Grade B, accepted
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155732 [Redact]   33481489     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Buyer Comment (2025-05-20): Initial and Final Grade B, accepted
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Non QM Non QM Yes
[Redact] 9155732 [Redact]   33481491     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-19): Sufficient Cure Provided At Closing
   05/19/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C B C A B B A A Non QM Non QM Yes
[Redact] 9155732 [Redact]   33482078     Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Borrower's own funds percent discrepancy.   Calculated borrower's own funds of 1.29% is less than Guideline required borrower's own funds of 5.00%.  Note: the gift funds and business funds are not considered the borrower's own funds.       Reviewer Comment (2025-06-11): Per the client, updated guidelines were used to qualify this loan.  The updated guides allow the business funds to be included in the percentage of the borrower's own funds.  Borrower is 100% owner of the business the funds used for closing were drawn on.


Reviewer Comment (2025-06-03): Guidelines do not specify that business funds are considered the borrower's own funds to determine the percentage of the borrower contribution.  The default method is to exclude business funds from the percentage of borrower's own funds, even if they are allowed to be used for the down payment and closing costs.  The condition is valid and remains open


Seller Comment (2025-06-02): It's been verified that the borrower is 100% owner of the business and those are his funds.  Please advise
 06/11/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155712 [Redact]   33478289     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing a copy of the Hazard Insurance for Property-[Redact]       Reviewer Comment (2025-05-21): Received insurance verification. Exception Cleared.


Seller Comment (2025-05-21): HOI
 05/21/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155712 [Redact]   33478476     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Buyer Comment (2025-05-20): Initial and Final Grade B, accepted
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Non QM Non QM Yes
[Redact] 9155712 [Redact]   33482331     Credit Missing Document General Missing Document Missing Document: Verification of Non-US Citizen Status not provided   Borrower is a Permanent Resident Alien. Missing documentation to verify this status.       Reviewer Comment (2025-06-13): Perm Resident card provided


Seller Comment (2025-06-13): CitizenshipDocs
 06/13/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155712 [Redact]   33485515     Credit System General Appraisal Reconciliation Valuation address does not match Note address. - The city name on the appraisal does not match the city name on the Note.  Provide a revised appraisal with the correct city name.       Reviewer Comment (2025-05-22): Revised appraisal provided


Seller Comment (2025-05-22): Revised Appraisal
 05/22/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155712 [Redact]   33485522     Compliance Compliance Federal Compliance Federal HPML TIL Higher Priced Mortgage Loan Safe Harbor Test TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied. The city name on the appraisal does not match the city name on the Note.  Provide a revised appraisal with the correct city name.       Reviewer Comment (2025-05-22): Revised appraisal provided


Seller Comment (2025-05-21): revised appraisal
 05/22/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9155725 [Redact]   33485410     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Buyer Comment (2025-05-20): Initial and Final Grade B, accepted.
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9155717 [Redact]   33487633     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The Title Policy has a coverage amount of [Redact] this is less than the note amount of [Redact] Please provide an updated title Commitment or final title.             05/20/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
[Redact] 9155716 [Redact]   33490177     Credit Credit Miscellaneous Guideline Credit Exception:   Guideline requirement not met.  Housing payments not verified; No housing history for [Redact]- [Redact] due to living out of country.  Lender made a pre-close exception and exception approval is in file. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. 425.07 months reserves [Redact],Originator Pre-Close,Aggregator Reviewer Comment (2025-05-22): Client elected to waive the condition with the following Comp Factor: 425.07 months reserves
     05/22/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9155716 [Redact]   33490185     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing.   Provide a copy of the dec page or policy in effect at or prior to closing (refinance).       Reviewer Comment (2025-06-09): Revised HOI policy in effect at closing was provided


Seller Comment (2025-06-05): HOI


Reviewer Comment (2025-06-02): Revised CD provided; however, the condition cannot be cleared.  This is a refinance transaction, HOI must be in effect at closing since the property was already owned by the borrower.  A copy of the policy in place in effect on or prior to the closing date of [Redact] is required.  Condition is valid and remains open


Seller Comment (2025-05-30): PC CD correcting disbursement date


Reviewer Comment (2025-05-22): EXCEPTION HISTORY - Exception Explanation was updated on [Redact] PRIOR Exception Explanation: Hazard Insurance Policy Effective Date [Redact], Disbursement Date: [Redact]


Reviewer Comment (2025-05-22): Revised CD provided; however, the condition cannot be cleared.  This is a refinance transaction, HOI must be in effect at closing since the property was already owned by the borrower.  Note: the HOI in file was identified as a policy change and increased coverage, updated the loss payee, etc....so an existing policy was already in place.  A copy of the policy in place prior to the change, that was in effect on or prior to the closing date of [Redact] is required.  Condition is valid and remains open


Seller Comment (2025-05-22): CD - disbursement date shows [Redact]
 06/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9155756 [Redact]   33493564     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The file is missing documentation from the seller confirming the condo is warrantable.  Note: the HOA questionnaire in file from the HOA is not acceptable.       Reviewer Comment (2025-05-21): Received project approval. Exception Cleared.


Seller Comment (2025-05-21): condo warranty
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9162892 [Redact] [Redact] 33455528     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-16): Please advise if anything additional is needed on this one.


Seller Comment (2025-06-11): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9162894 [Redact] [Redact] 33455997     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/04/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9162894 [Redact] [Redact] 34109890     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             07/31/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9162896 [Redact] [Redact] 33456102     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-24): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): (Rate Lock) [Redact]
 06/24/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9162896 [Redact] [Redact] 33708224     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             06/19/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9162981 [Redact] [Redact] 33456186     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-10): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9162980 [Redact] [Redact] 33456282     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9162980 [Redact] [Redact] 33794565     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-27): Client elected to waive the condition on the Non-QM 1st lien
     06/27/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9163003 [Redact] [Redact] 33456673     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 10:24 am.
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9163006 [Redact] [Redact] 33456933     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9163006 [Redact] [Redact] 33513223     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               05/23/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9163006 [Redact] [Redact] 33513224     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               05/23/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9163006 [Redact] [Redact] 33513955     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-28): Tax cert and clarification provided


Seller Comment (2025-05-27): [Redact]: Property taxes were miscalculated, they should be [Redact]/month based on the tax bill attached.
 05/28/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9104767 [Redact]   33469054     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception for [Redact] rule due to rural property with Compensating Factors DSCR > 1.25 and FICO of 731 more than 10 points above guideline requirement. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 DSCR of 1.76 greater than 1.25

FICO> 10 points above requirement		 Originator,[Redact]

Originator,[Redact]		 Reviewer Comment (2025-04-28): Client elects to downgrade and waive using compensating factors
DSCR of 1.76 greater than 1.25
FICO> 10 points above requirement
     04/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B     A A   N/A No
[Redact] 9165534 [Redact] [Redact] 33469274     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-18): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9155726 [Redact]   33490414     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Buyer Comment (2025-05-20): Initial and Final Grade B, accepted.
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C B C B A A Non QM Non QM Yes
[Redact] 9155726 [Redact]   33490418     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The survey fee wasnt disclosed to the borrower on the LE, the final CD shows the survey fee as [Redact], there is no COC in the file or lender credit to cover the cost to cure.       Reviewer Comment (2025-06-11): [Redact] received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD.


Seller Comment (2025-06-10): Refund package
   06/11/2025   2 C B C B C B C B C B   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C B C B A A Non QM Non QM Yes
[Redact] 9155726 [Redact]   33490430     Credit Credit Credit Calculation / Analysis Guideline Guideline Requirement: Representative FICO score discrepancy. Representative FICO score of ___ is less than Guideline representative FICO score of ___. The borrower's FICO score is 5 points less than the required 700 score for an LTV of 85.00%.  Lender's exception approval is in file. Borrower has verified disposable income of at least [Redact].

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score is above 680.		 Residual income of [Redact] monthly. [Redact],Originator Pre-Close,Aggregator

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-22): Client elected to waive the condition with the following comp factors: Residual income of [Redact] monthly.


Reviewer Comment (2025-05-21): Additional copy of the lender's exception approval provided.  Elevated to the client for review.


Seller Comment (2025-05-21): Exception from file
     05/22/2025 2 C B C B C B C B C B   [Redact] Primary Purchase   C B C B C B A A Non QM Non QM No
[Redact] 9155722 [Redact]   33491031     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Total cash-out discrepancy. HUD-1 total cash-out of ___ is greater than Guideline total cash-out of ___. Lender approved exception for greater than 70% LTV for Cash Out up to [Redact] (Borrower receiving [Redact]). Lender exception approval in file. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least [Redact].

Borrower has worked in the same position for more than 3 years.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 136.67 months reserves [Redact],Aggregator

[Redact]

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-22): Client elected to waive the condition with the following comp factors: 136.67 months reserves
     05/22/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9155737 [Redact]   33490568     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard Insurance Coverage Amount is insufficient. Coverage shortfall [Redact]. Provide updated Hazard Insurance Policy with Dwelling Coverage of at least [Redact] or Replacement Cost Estimator.       Reviewer Comment (2025-05-27): Confirmation from the insurance company received confirming guaranteed replacement cost coverage


Seller Comment (2025-05-23): agent email


Reviewer Comment (2025-05-21): The GSE method was used to determine the coverage requirement.  Since the appraisal did not provide the Total Estimate of Cost New, 80% of the appraised value is the insured value and coverage of at least [Redact] is required.  The insurance is insufficient by [Redact].  Provide a copy of the replacement cost estimator from the insurance company or documentation from the insurance company verifying the policy has Guaranteed Replacement cost coverage.  Note: "Similar Construction" verbiage does not verify guaranteed replacement cost coverage.  Condition remains


Seller Comment (2025-05-21): replacement cost listed on policy - similar construction
 05/27/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C A C A A A A A Non QM Non QM No
[Redact] 9155737 [Redact]   33491077     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided   Provided corrected 1008 reflecting Loan Amount of [Redact].       Reviewer Comment (2025-05-21): 1008 provided


Seller Comment (2025-05-21): 1008
 05/21/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C A C A A A A A Non QM Non QM No
[Redact] 9155755 [Redact]   33491026     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Buyer Comment (2025-05-20): Initial and Final Grade B, accepted.
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9155763 [Redact]   33490725     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Buyer Comment (2025-05-20): Initial and Final Grade B, accepted.
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9155729 [Redact]   33490402     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Fraud report was missing in the file.       Reviewer Comment (2025-05-21): Fraud report provided


Seller Comment (2025-05-21): [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9155729 [Redact]   33490404     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided           Reviewer Comment (2025-05-21): Fraud report provided


Seller Comment (2025-05-21): [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9155729 [Redact]   33490411     Credit Credit Credit Documentation Credit No evidence of fraud report in file - Fraud report was missing in the file.       Reviewer Comment (2025-05-21): Fraud report provided


Seller Comment (2025-05-21): [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9155727 [Redact]   33493632     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The file is missing documentation from the seller confirming the condo is warrantable.  Note: the HOA questionnaire in file from the HOA is not acceptable.       Reviewer Comment (2025-05-21): Received project approval. Exception Cleared.


Seller Comment (2025-05-21): condo warranty
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9155743 [Redact]   33488785     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-05-21): Communication from the insurance company verified "Guaranteed Replacement Cost" coverage


Seller Comment (2025-05-21): Agent email
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9155734 [Redact]   33491731     Credit Missing Document General Missing Document Missing Document: HUD/CD (Asset) not provided   The HUD-1 or closing statement for the refinance of the other REO verifying net proceeds of [Redact] was missing from the file.       Reviewer Comment (2025-05-21): Settlement statement from REO refinance provided verifying sufficient funds to close and meet the reserve requirement.


Seller Comment (2025-05-21): Settlement Stmt [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9155734 [Redact]   33491744     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   The HUD-1 or closing statement for the refinance of the other REO verifying net proceeds of [Redact] was missing from the file.       Reviewer Comment (2025-05-21): Settlement statement from REO refinance provided verifying sufficient funds to close and meet the reserve requirement.


Seller Comment (2025-05-21): Settlement Stmt [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9155734 [Redact]   33491849     Credit Asset Asset Documentation Asset Insufficient funds for Reserves. Guidelines require   The HUD-1 or closing statement for the refinance of the other REO verifying net proceeds of [Redact] was missing from the file.       Reviewer Comment (2025-05-21): Settlement statement from REO refinance provided verifying sufficient funds to close and meet the reserve requirement.


Seller Comment (2025-05-21): Settlement Stmt [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9155734 [Redact]   33491853     Credit Business Purpose General Business Purpose Insufficient funds for Reserves.   The HUD-1 or closing statement for the refinance of the other REO verifying net proceeds of [Redact] was missing from the file.       Reviewer Comment (2025-05-21): Settlement statement from REO refinance provided verifying sufficient funds to close and meet the reserve requirement.


Seller Comment (2025-05-21): Settlement Stmt [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9155734 [Redact]   33491865     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             05/20/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9155734 [Redact]   33491896     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   The HUD-1 or closing statement for the refinance of the other REO verifying net proceeds of [Redact] was missing from the file.       Reviewer Comment (2025-05-21): Settlement statement from REO refinance provided verifying sufficient funds to close and meet the reserve requirement.


Seller Comment (2025-05-21): Settlement Stmt [Redact]
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9165712 [Redact] [Redact] 33469918     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-20): collateral delivered [Redact] sent via [Redact] tracking [Redact]
 06/26/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9165721 [Redact] [Redact] 33470183     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9165721 [Redact] [Redact] 33639202     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Disclosure) Federal High-Cost Mortgage Loan (HOEPA Disclosure Not Provided) Truth in Lending Act (HOEPA):  HOEPA disclosure was not provided to the Borrower The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-17): Proof of undiscounted rate and price provided.  A portion of the discount points were bona fide.


Seller Comment (2025-06-16): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/17/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9165721 [Redact] [Redact] 33639203     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Financed Points and Fees) Truth in Lending Act (HOEPA): Mortgage loan financed Points and Fees. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-17): Proof of undiscounted rate and price provided.  A portion of the discount points were bona fide.


Seller Comment (2025-06-16): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/17/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9165721 [Redact] [Redact] 33639204     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Late Charge) Truth in Lending Act (HOEPA): Mortgage loan contains a late charge that exceeds the greater of 4% of the amount past due or grace period of less than 15 days. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-17): Proof of undiscounted rate and price provided.  A portion of the discount points were bona fide.


Seller Comment (2025-06-16): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/17/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9165721 [Redact] [Redact] 33639205     Compliance Compliance Federal Compliance Federal Defect (Fed High Cost) Federal High-Cost Mortgage Loan (Points and Fees) Truth in Lending Act (High-Cost Mortgage): Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of  5.00000% of the Federal Total Loan Amount. Points and Fees of [Redact] on a Federal Total Loan Amount of [Redact] vs. an allowable total of [Redact] (an overage of [Redact] or [Redact]).  Non-Compliant High Cost Loan. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-17): Proof of undiscounted rate and price provided.  A portion of the discount points were bona fide.


Seller Comment (2025-06-16): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/17/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other (1) Signed letter from borrower indicating their choice to either (a) accept refund and make loan non-high-cost or (b) keep loan as high-cost and make loan compliant; (2) Assuming option (a) is selected, a copy of refund check and proof of mailing; (3) Assuming option (b) is selected, proof of cure for each of the prohibited practices violations noted. C B A A C B A A Non QM Non QM Yes
[Redact] 9165721 [Redact] [Redact] 33639206     Compliance Legal / Regulatory / Compliance Anti-Predatory Violation Federal Defect (Fed High Cost Provision) Federal High-Cost Mortgage Loan (Counseling Requirement) Truth in Lending Act (HOEPA): Borrower did not receive pre-loan counseling. The file is missing proof of the undiscounted interest rate and the undiscounted interest rate price or the amount of discount points required to obtain the undiscounted rate, to determine if any of the discount points are bona fide.       Reviewer Comment (2025-06-17): Proof of undiscounted rate and price provided.  A portion of the discount points were bona fide.


Seller Comment (2025-06-16): [Redact]: Please see the attached Par Rate, The price of the undiscounted rate is [Redact], there is no charge for undiscounted (also known as PAR) rate.
 06/17/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9165721 [Redact] [Redact] 33639207     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-13): Client elected to waive the condition on the Non-QM 1st lien
     06/13/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9165719 [Redact] [Redact] 33470185     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9165719 [Redact] [Redact] 33612965     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-10): Client elected to waive the condition on the Non-QM 1st lien
     06/10/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9165719 [Redact] [Redact] 33612968     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded. Loan Discount Points Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] on Final Closing Disclosure dated [Redact]. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-06-10): Sufficient Cure Provided At Closing
   06/10/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9166140 [Redact] [Redact] 33473408     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9166140 [Redact] [Redact] 33985449     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/22/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9166140 [Redact] [Redact] 33985450     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/22/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9166194 [Redact] [Redact] 33473968     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-06): Waived on Rate Lock: Collateral cleared by Custodian
 06/06/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9166194 [Redact] [Redact] 33548814     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             06/02/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9166195 [Redact] [Redact] 33473969     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian
 06/10/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9166196 [Redact] [Redact] 33474044     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian
 06/11/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9166196 [Redact] [Redact] 33555212     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-02): Sufficient Cure Provided At Closing
   06/02/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9166196 [Redact] [Redact] 33555213     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Tax Certificate Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-02): Sufficient Cure Provided At Closing
   06/02/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9166196 [Redact] [Redact] 33555214     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-02): Sufficient Cure Provided At Closing
   06/02/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9166196 [Redact] [Redact] 33555215     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for HOA/Condo Questionnaire.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-02): Sufficient Cure Provided At Closing
   06/02/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9166196 [Redact] [Redact] 33555444     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided   Loan Underwriting and Transmittal Summary (1008) not provided.       Reviewer Comment (2025-06-03): Received 1008. Exception Cleared.


Seller Comment (2025-06-03): (Rate Lock) 1008
 06/03/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9166196 [Redact] [Redact] 33555589     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Insurance Certificate.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-02): Sufficient Cure Provided At Closing
   06/02/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9166198 [Redact] [Redact] 33474584     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-09): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9153168 [Redact]   33499159     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-05-30): Received Tax Certificate. Exception Cleared.


Seller Comment (2025-05-29): Tax cert uploaded
 05/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9153186 [Redact]   33507429     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-06-02): Received Tax Cert. Exception Cleared.


Seller Comment (2025-05-30): tax cert uploaded
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9153190 [Redact]   33507752     Credit Insurance Insurance Analysis Insurance Insurance address does not match Note address.   The city name on the Note does not match the city on the HOI.  Provide a revised HOI dec page or policy with the correct city name.       Reviewer Comment (2025-06-01): As per [Redact] lookup both city name refers to the same city. Exception Cleared.


Seller Comment (2025-05-30): Both the city name refers to the same city, [Redact] ziplook up uploaded.
 06/01/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9153190 [Redact]   33507753     Credit System General System Flood Certificate Subject Address does not match Note address.   The city name on the Note does not match the city on the Flood Cert.  Provide a revised Flood Cert with the correct city name.       Reviewer Comment (2025-06-01): As per [Redact] lookup both city name refers to the same city. Exception Cleared.


Seller Comment (2025-05-30): Both the city name refers to the same city, [Redact] ziplook up uploaded.
 06/01/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9153190 [Redact]   33507758     Credit System General Appraisal Reconciliation Valuation address does not match Note address. - The city name on the Note does not match the city on the appraisal.  Provide a revised appraisal with the correct city name.       Reviewer Comment (2025-06-01): As per [Redact] lookup both city name refers to the same city. Exception Cleared.


Seller Comment (2025-05-30): Both the city name refers to the same city, [Redact] ziplook up uploaded.
 06/01/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9153190 [Redact]   33507762     Credit System General Appraisal Reconciliation Valuation address does not match Note address. - The city name on the Note does not match the city on the CDA.  Provide a revised CDA with the correct city name.       Reviewer Comment (2025-06-01): As per [Redact] lookup both city name refers to the same city. Exception Cleared.


Seller Comment (2025-05-30): Both the city name refers to the same city, [Redact] ziplook up uploaded.
 06/01/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9153204 [Redact]   33522478     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   The file is missing a copy of the final HUD.  The Funding Statement in file has conflicting information and unable to determine the cash from or cash to the borrower as the payoff is different on page 1 vs page 2.       Reviewer Comment (2025-06-04): Seller verified funding worksheet is accurate


Seller Comment (2025-06-03): This is a rate term refinace and cash from borrower at closing is [Redact] and payoff to the previous servier is [Redact] (These values are from page 2) and the payoff in pg1 is the sum of this - [Redact]


Reviewer Comment (2025-06-02): An additional copy of the Funding Statement was provided.  The payoff on page 1 was identified as [Redact] and the payoff on page 2 is [Redact].  An accurate Funding Statement is required to determine if there was cash due from the borrower or to the borrower.  Condition remains


Seller Comment (2025-05-30): HUD uplaoded
 06/04/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9153212 [Redact]   33526668     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact]OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-05-30): Revised HOI dec page not included in the initial file was provided


Seller Comment (2025-05-30): Borrower is carrying [Redact] in total RC coverage
 05/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9153228 [Redact]   33526583     Credit Missing Document General Missing Document Missing Document: Verification of Non-US Citizen Status not provided   Verified cation of Non-US Citizenship Status not provided.       Reviewer Comment (2025-06-02): Received Permanent Resident Card. Exception Cleared.


Seller Comment (2025-05-30): Document uploaded
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9166216 [Redact] [Redact] 33475928     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian
 06/13/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9166216 [Redact] [Redact] 33612146     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-10): Client elected to waive the condition on the Non-QM 1st lien
     06/10/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9166219 [Redact] [Redact] 33475931     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-06): Waived on Rate Lock: Collateral cleared by Custodian
 06/06/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9166219 [Redact] [Redact] 33535222     Compliance Compliance Federal Compliance Federal HPML Federal HPML 2014 Non Compliant Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan. File is missing proof of the borrowers receipt of the valuations at least three business days prior to closing.  Proof of delivery in file, but unable to determine the date of the borrowers receipt.       Reviewer Comment (2025-06-02): proof of receipt of the appraisal provided


Seller Comment (2025-06-02): Disagree - Our Contract states that [Redact] will buy HPML as long as all the requirements were met as they were on this loan. Please see the attached documents which shows the borrower received the Appraisal on [Redact]
 06/02/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9166219 [Redact] [Redact] 33535224     Compliance Compliance Federal Compliance Federal HPML (Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer) TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.  File is missing proof of the borrowers receipt of the valuations at least three business days prior to closing.  Proof of delivery in file, but unable to determine the date of the borrowers receipt.       Reviewer Comment (2025-06-02): proof of receipt of the appraisal provided


Seller Comment (2025-06-02): Disagree - Our Contract states that [Redact] will buy HPML as long as all the requirements were met as they were on this loan. Please see the attached documents which shows the borrower received the Appraisal on [Redact]
 06/02/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9166219 [Redact] [Redact] 33535231     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-05-30): Client elected to waive the condition on the Non-QM 1st lien
     05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9166219 [Redact] [Redact] 33535241     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Originator Compensation.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Loan Originator Compensation. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-06-06): [Redact] Received Valid COC dated [Redact].


Seller Comment (2025-06-05): There was a CofC submitted on [Redact] to flip the comp from lender paid to borrower paid to reduce the discount points. Please see the attached CofC and Closing Disclosure that went out to the borrower the following day to redisclose the origination.
 06/06/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9166219 [Redact] [Redact] 33535242     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Second Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-06-06): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Seller Comment (2025-06-05): Please see attached Tolerance Cure Breakdown which shows the borrower was given a credit at closing for the Appraisal fee 2 at closing.
 06/06/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9166219 [Redact] [Redact] 33589655     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-06): Sufficient Cure Provided At Closing
   06/06/2025   1   A   A   A   A   A   [Redact] Primary Purchase Final CD evidences Cure C B A A C B A A Non QM Non QM Yes
[Redact] 9166218 [Redact] [Redact] 33475934     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-03): Waived on Rate Lock: Collateral cleared by Custodian
 06/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9166218 [Redact] [Redact] 33527532     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-05-29): Client elected to waive the condition on the Non-QM 1st lien
     05/29/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9166218 [Redact] [Redact] 33528214     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The 2nd appraisal fee of [Redact] wasnt disclosed to the borrower on the LE, however there was a lender credit to cover the cost to cure.       Reviewer Comment (2025-05-28): Sufficient Cure Provided At Closing
   05/28/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9166215 [Redact] [Redact] 33476111     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-06): (Rate Lock) [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9166215 [Redact] [Redact] 33581361     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - High Cost as Primary The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). If tested as primary residence, loan exceeds one or more high cost thresholds. The initial and final 1003 identified the co-borrower would occupy the subject as a primary residence.  The loan failed the High-Cost testing due to the prepayment penalty of 6 months interest, exceeds the max of 2% of the amount prepaid.       Reviewer Comment (2025-07-21): Corrected 1003 provided, exception cleared.


Reviewer Comment (2025-07-17): Loan number [Redact] does not come up.  Please have the borrower sign an attestation stating that it was checked in error.  Condition remains.


Seller Comment (2025-07-15): This property is not a primary residence, therefore the high cost test does not apply. The corrected 1003 reflecting the borrower will not occupy the property was provided for exception ID [Redact], which was cleared on [Redact]25.


Reviewer Comment (2025-07-14): Nothing comes up with the loan number that was provided.  However, section 4a reflects the subject property and the borrower did select yes they will occupy the property as their primary on the initial 1003.  Therefore, the condition remains.


Seller Comment (2025-07-10): Waterfall exception from [Redact], which has been cleared. Please cancel.
 07/21/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9166215 [Redact] [Redact] 33581966     Credit Credit Miscellaneous Guideline Credit Exception:   The lender included the subject prior housing payment in the borrower's DTI, the 1008 debt is [Redact] + [Redact] = [Redact]. review calculation of total debt is [Redact].  The difference is [Redact] which is the amount of the prior mortgage payment that was paid off at closing.Please provide a corrected 1008 with the correct DTI.       Reviewer Comment (2025-06-18): Revised 1008 provided


Seller Comment (2025-06-18): Attached the Updated and Final 1008
 06/18/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9166215 [Redact] [Redact] 33586770     Credit Loan Package Documentation Application / Processing Loan Package Documentation Mismatch of data related to Occupancy. - The final 1003 identified the borrowers would occupy the subject as a primary residence.  Provide a revised 1003 correcting the declarations section.       Reviewer Comment (2025-07-09): Revised 1003 provided


Seller Comment (2025-07-08): Updated 1003 showing occupancy added


Reviewer Comment (2025-06-18): The final 1003, doc id 730 identified the property would be occupied as a primary residence.  Condition is valid and remains open


Seller Comment (2025-06-17): The final 1003 starts on page 77 and has the correct occupancy on page 81.  Please Cancel.
 07/09/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9166221 [Redact] [Redact] 33476318     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-30): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9166224 [Redact] [Redact] 33476557     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-24): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9166224 [Redact] [Redact] 33725064     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - File does not contain documentation from lender/seller confirming the condo is warrantable.       Reviewer Comment (2025-06-24): Lender provided proof the project is warrantable


Seller Comment (2025-06-24): condo
 06/24/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9166224 [Redact] [Redact] 33725076     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business purpose certificate was not provided       Reviewer Comment (2025-06-24): Business purpose cert provided


Seller Comment (2025-06-24): business purpose
 06/24/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9166224 [Redact] [Redact] 33725078     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of identification was not provided.       Reviewer Comment (2025-06-24): Identification provided


Seller Comment (2025-06-24): id
 06/24/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9167255 [Redact] [Redact] 33481417     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-02): (Rate Lock) [Redact]
 06/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9167257 [Redact] [Redact] 33481424     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167257 [Redact] [Redact] 33604980     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167257 [Redact] [Redact] 33604981     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025)       Reviewer Comment (2025-06-10): Client elected to waive the condition on the Non-QM 1st lien
     06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9167257 [Redact] [Redact] 33606491     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing a copy of the final CD per the final 1003 the borrower is refinancing this REO.       Reviewer Comment (2025-06-12): CD from purchase of REO provided verifying the PITIA


Seller Comment (2025-06-11): [Redact]: please see attached
 06/12/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167257 [Redact] [Redact] 33620060     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Not High Cost and Not Higher Priced The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). The initial 1003 declarations section identified the subject would be occupied as a primary residence.             06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167253 [Redact] [Redact] 33481425     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167253 [Redact] [Redact] 33604749     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The borrower is refinancing the REO, please provide a copy of the final CD to verify the PITIA       Reviewer Comment (2025-06-10): CD from purchase provided to verify the PITIA


Seller Comment (2025-06-10): [Redact]: please see attached
 06/10/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167253 [Redact] [Redact] 33604759     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               06/09/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167253 [Redact] [Redact] 33604760     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-09): Client elected to waive the condition on the Non-QM 1st lien
     06/09/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9167253 [Redact] [Redact] 33611431     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Not High Cost and Not Higher Priced The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment).               06/09/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9167865 [Redact] [Redact] 33482239     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-02): Waived on Rate Lock: Collateral cleared by Custodian
 07/02/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9168146 [Redact] [Redact] 33483733     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-01): Waived on Rate Lock: Collateral cleared by Custodian
 07/01/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   D B D A B B A A Non QM Non QM No
[Redact] 9168146 [Redact] [Redact] 33719517     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   The file is missing a copy of Purchase Agreement.       Reviewer Comment (2025-07-06): Received purchase contract. Exception Cleared.


Seller Comment (2025-07-03): (Rate Lock) Purchase Contract attached
 07/06/2025     1 D A D A D A D A D A   [Redact] Second Home Purchase   D B D A B B A A Non QM Non QM No
[Redact] 9168146 [Redact] [Redact] 33719526     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification of appraisal was delivered to borrower was not provided             06/23/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   D B D A B B A A Non QM Non QM No
[Redact] 9168146 [Redact] [Redact] 33723066     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             06/23/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   D B D A B B A A Non QM Non QM No
[Redact] 9168364 [Redact] [Redact] 33484983     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9168364 [Redact] [Redact] 33781806     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Loan Discount Points changed to [Redact] on the Closing Disclosure dated [Redact], there is no valid change of circumstance provided for fee change, and no evidence of tolerance cure was in the file.       Reviewer Comment (2025-06-30): [Redact] received rate lock for the fee increased.


Seller Comment (2025-06-27): [Redact] On [Redact] there was a relock on the file that caused pricing to increase. On wholesale loans lock actions are acceptable changes and circumstance. A Closing Disclosure went out to the Borrower on the same day. Pricing for the rate ended at -1.150% or -[Redact] with lender paid compensation of [Redact] and a Final Cost to the Borrower of 0.299% or [Redact]. Please see attached lock confirmation and Closing Disclosure.
 06/30/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C B C B A A Non QM Non QM Yes
[Redact] 9168364 [Redact] [Redact] 33781807     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Appraisal fee changed to [Redact] on the Closing Disclosure dated [Redact]. A valid change of circumstance was not provided for fee change, and no evidence of tolerance cure was in the file.       Reviewer Comment (2025-06-30): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Seller Comment (2025-06-27): [Redact] Please see the attached Final Closing Disclosure and Tolerance Cure breakdown which shows the borrower was provided a credit at closing for the increase in the Appraisal Fee.
 06/30/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C B C B A A Non QM Non QM Yes
[Redact] 9168364 [Redact] [Redact] 33783635     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Title Preliminary not provided   The file is missing a copy of the Title Preliminary.       Reviewer Comment (2025-07-01): Title commitment provided


Seller Comment (2025-06-30): [Redact]: Please see attached copy of title
 07/01/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9168364 [Redact] [Redact] 33783646     Credit Missing Document General Missing Document Missing Document: Appraisal Transfer Letter not provided   The file is missing a copy of the Appraisal Transfer Letter.       Reviewer Comment (2025-07-01): Appraisal transfer letter provided


Seller Comment (2025-06-30): [Redact]: Please see attached document
 07/01/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9168364 [Redact] [Redact] 33783663     Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   The file is missing a copy of the Title Report.       Reviewer Comment (2025-07-01): Title commitment provided
 07/01/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9168364 [Redact] [Redact] 33783672     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               06/26/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9168364 [Redact] [Redact] 33783673     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               06/26/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9168364 [Redact] [Redact] 33805337     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-30): Sufficient Cure Provided At Closing
   06/30/2025   1   A   A   A   A   A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure C B C B C B A A Non QM Non QM Yes
[Redact] 9168364 [Redact] [Redact] 33818688     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.               07/01/2025 2   B   B   B   B   B   [Redact] Primary Refinance - Cash-out - Other   C B C B C B A A Non QM Non QM No
[Redact] 9168363 [Redact] [Redact] 33484985     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9168371 [Redact] [Redact] 33485518     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9168371 [Redact] [Redact] 33670805     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Loan Discount Points. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-06-30): [Redact] received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD.


Seller Comment (2025-06-27): Please see attached Letter of Explanation, Refund Check, Post-Closed Closing Disclosure, Proof of Delivery.
   06/30/2025   2 C B C B C B C B C B   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9155710 [Redact]   33504371     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   Please provide  the tax certificate used to qualify the borrower title shows the annual taxes as [Redact], the lender used [Redact] for the annual taxes.       Reviewer Comment (2025-05-27): Property tax calculator provided


Seller Comment (2025-05-23): LOE Tax calc
 05/27/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9155757 [Redact]   33504401     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business Purpose Certificate not provided.       Reviewer Comment (2025-05-27): Business purpose cert provided


Seller Comment (2025-05-23): Business Purpose
 05/27/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9155757 [Redact]   33504402     Credit Missing Document General Missing Document Missing Document: Verification of Non-US Citizen Status not provided   Verification of Non-US Citizens Status not provided.       Reviewer Comment (2025-05-27): Identification provided


Seller Comment (2025-05-23): Citizen Status and IDs
 05/27/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9155757 [Redact]   33504403     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   Fully executed and complete Purchase Agreement/Sales Contract not provided.       Reviewer Comment (2025-05-27): Purchase agreement provided


Seller Comment (2025-05-23): Contract
 05/27/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9155757 [Redact]   33504404     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of Identification not provided.       Reviewer Comment (2025-05-27): Identification provided


Seller Comment (2025-05-23): Citizen Status and IDs
 05/27/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9155757 [Redact]   33508967     Credit Asset Asset Eligibility Asset Guideline Issue: Seller concessions exceeds the amount allowed per credit guidelines   3.98% seller concessions > 3% maximum allowed per guidelines. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].		 166.52 months reserves, [Redact],Originator,Aggregator

[Redact]		 Reviewer Comment (2025-06-02): Client elected to waive the condition with the following Comp Factor: 166.52 months reserves,


Seller Comment (2025-05-30): Exception


Reviewer Comment (2025-05-27): The purchase contract will not clear the condition.  The final CD in file verified [Redact] seller credit which is 3.98% of the sales price of [Redact]. Condition is valid and remains open


Seller Comment (2025-05-23): Contract
     06/02/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   D B D B     A A   N/A No
[Redact] 9168916 [Redact] [Redact] 33490107     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9168916 [Redact] [Redact] 33677136     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-17): Client elected to waive the condition on the Non-QM 1st lien
     06/17/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9168916 [Redact] [Redact] 33677139     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-17): Sufficient Cure Provided At Closing
   06/17/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9168916 [Redact] [Redact] 33677141     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-17): Sufficient Cure Provided At Closing
   06/17/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9155744 [Redact]   33510162     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Buyer Comment (2025-05-27): Initial and Final Grade B, accepted
     05/27/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9155728 [Redact]   33509953     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Buyer Comment (2025-05-27): Initial and Final Grade B. accepted.
     05/27/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9155762 [Redact]   33510727     Credit Credit Miscellaneous Guideline Credit Exception:   IRA Distribution income used and the IRA was not set up prior to closing.  Lender exception approval in file. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Borrower has verified disposable income of at least [Redact].

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		 LTV 25%

Reserves of 109.30		 [Redact],Originator Pre-Close,Aggregator

[Redact]

Aggregator,[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-27): Client elected to waive the condition with the following Comp Factor: LTV 25% and reserves of 109.30
     05/27/2025 2 C B C B C B C B C B   [Redact] Primary Refinance - Cash-out - Other   C B C B A A A A Non QM Non QM No
[Redact] 9155767 [Redact]   33510821     Credit Credit Miscellaneous Guideline Credit Exception:   There is an approved lender exception to waive the document of automatic withdrawal from the borrower's IRA. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Borrower has verified disposable income of at least [Redact].

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The Loan to Value (LTV) on the loan is less than or equal to 70%.

The representative FICO score exceeds the guideline minimum by at least 40 points.

The representative FICO score is above 680.		 LTV 60.7981% [Redact],Originator Pre-Close,Aggregator

[Redact]

[Redact]

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-27): Client elected to waive the condition with the following Comp Factors: LTV 60.7981%
     05/27/2025 2 C B C B C B C B C B   [Redact] Primary Refinance - Rate/Term   C B C B A A A A Non QM Non QM No
[Redact] 9169272 [Redact] [Redact] 33491060     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-13): (Rate Lock) Note Tracking [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9169283 [Redact] [Redact] 33492844     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-09): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9169283 [Redact] [Redact] 33848349     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. No documentation in file to evidence receipt of the appraisal by the borrowers.             07/07/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9169289 [Redact] [Redact] 33493104     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C B A A C B A A Non QM Non QM No
[Redact] 9169289 [Redact] [Redact] 33725203     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-25): Client elected to waive the condition on the Non-QM 1st lien


Seller Comment (2025-06-24): [Redact]: Disagree - not subject to 3% and HPML passing
     06/25/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9169289 [Redact] [Redact] 33725207     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Loan Discount Points was last disclosed as [Redact], Then disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-06-25): [Redact] received a vlaid COC.


Seller Comment (2025-06-24): [Redact]: Please see attached Rate Lock sheets and corresponding disclosure. On 6-4 the loan was relocked, affecting the LLPA, negative pricing disclosed on the 6-4 LE
 06/25/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9169284 [Redact] [Redact] 33493105     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-06): Waived on Rate Lock: Collateral cleared by Custodian
 06/06/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9169284 [Redact] [Redact] 33539131     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-05-30): Client elected to waive the condition on the Non-QM 1st lien
     05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9169284 [Redact] [Redact] 33539135     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded. Appraisal Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] on Final Closing Disclosure dated [Redact]. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-05-30): Sufficient Cure Provided At Closing
   05/30/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9169284 [Redact] [Redact] 33542501     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9169288 [Redact] [Redact] 33493107     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-18): Waived on Rate Lock: Collateral cleared by Custodian
 06/18/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B B B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9169288 [Redact] [Redact] 33623174     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             06/11/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B A A A A Exempt from ATR Exempt from ATR No
[Redact] 9169286 [Redact] [Redact] 33493303     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-24): (Rate Lock) Delivered [Redact] via [Redact] [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9169286 [Redact] [Redact] 33725072     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The Title Policy Amount of [Redact] is less than the note amount of [Redact] based on the Commitment in file             06/23/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9169301 [Redact] [Redact] 33493536     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-14): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-11): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/14/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9169301 [Redact] [Redact] 33887543     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   The file was missing a copy of the Business Purpose Certificate.       Reviewer Comment (2025-07-14): Received Business Purpose Certificate. Exception Cleared.


Seller Comment (2025-07-10): Business Purpose Certificate
 07/14/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9169301 [Redact] [Redact] 33887551     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9169306 [Redact] [Redact] 33493576     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-05): (Rate Lock) Bailee letter and Note tracking information
 06/13/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9169306 [Redact] [Redact] 33576456     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Desk Review Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower.         Reviewer Comment (2025-06-04): Sufficient Cure Provided within 60 Days of Closing
   06/04/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35) C B C A B B A A Non QM Non QM Yes
[Redact] 9169306 [Redact] [Redact] 33579922     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal (Report Date [Redact]) was not provided at or before closing.             06/05/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9169306 [Redact] [Redact] 33580170     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Index Value Source not provided   Index Value Source not provided.       Reviewer Comment (2025-06-08): Received compliance report. Exception Cleared.


Seller Comment (2025-06-06): (Rate Lock) Compliance report
 06/08/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9169306 [Redact] [Redact] 33586898     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Qual Method differs from ATR, DTI not Understated Ability to Repay (Dodd-Frank 2014): The Qualification Method used by the lender does not match the ATR payment calculation methods under 1026.43(c)(5), but the method did not render a DTI that is less than that prescribed under ATR.               06/05/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9169307 [Redact] [Redact] 33493587     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9169307 [Redact] [Redact] 33612007     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025)       Reviewer Comment (2025-06-10): Client elected to waive the condition on the Non-QM 1st lien
     06/10/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9155751 [Redact]   33512773     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-23): Sufficient Cure Provided At Closing
   05/23/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9155751 [Redact]   33512774     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Processing Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-23): Sufficient Cure Provided At Closing
   05/23/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9171590 [Redact] [Redact] 33497935     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-10): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9171590 [Redact] [Redact] 33860554     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business purpose certificate is missing in the file.       Reviewer Comment (2025-07-14): Received Business Purpose Certificate. Exception Cleared.


Seller Comment (2025-07-10): Please see attached business purpose certificate.
 07/14/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9171590 [Redact] [Redact] 33860558     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   purchaser /Sales agreement is missing in the file.       Reviewer Comment (2025-07-14): Received Purchase Agreement. Exception Cleared.


Seller Comment (2025-07-10): Please see attached purchase contract.
 07/14/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9171590 [Redact] [Redact] 33860593     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of identification is missing in the file.       Reviewer Comment (2025-07-14): Received Driver License. Exception Cleared.


Seller Comment (2025-07-10): Please see attached identification.
 07/14/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9171590 [Redact] [Redact] 33860617     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               07/08/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9171606 [Redact] [Redact] 33499069     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-18): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9171606 [Redact] [Redact] 33950630     Credit Credit Miscellaneous Guideline Credit Exception:   The file is missing the previous 12 months payment history for the borrower's primary residence which is required per guidelines.       Reviewer Comment (2025-08-19): Clarification from the seller provided; the mortgage identified was satisfied.  The primary residence is owned free and clear
 08/19/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9171608 [Redact] [Redact] 33499128     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-04): Waived on Rate Lock: Collateral cleared by Custodian
 07/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9171608 [Redact] [Redact] 33819121     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-07-02): Client elected to waive the condition on the Non-QM 1st lien
     07/02/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9171892 [Redact] [Redact] 33500709     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-01): shipped [Redact] Tracking [Redact]
 07/04/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9171892 [Redact] [Redact] 33786047     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - HOA Verification, Insurance Verification, Tax Verification documents is missing in the file for the primary residence.       Reviewer Comment (2025-07-02): Documentation provided to verify the PITIA for the primary


Seller Comment (2025-07-02): REO docs
 07/02/2025     1 C A C A C A C A C A   [Redact] Second Home Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9171892 [Redact] [Redact] 33786945     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. ECOA Receipt of Appraisal Without Waive             06/27/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9171902 [Redact] [Redact] 33501449     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-17): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-11): collateral delivered [Redact] via [Redact] tracking [Redact]
 06/17/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9171902 [Redact] [Redact] 33610324     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   The file is missing a copy of the final 1003.  Per the guidelines, all real estate owned must be disclosed on the application with the full PITIA.  The initial 1003 in file did not have the REO section completed.       Reviewer Comment (2025-06-10): Received 1003. Exception Cleared.


Seller Comment (2025-06-10): 1003
 06/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9171910 [Redact] [Redact] 33501452     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-01): Waived on Rate Lock: Collateral cleared by Custodian
 07/01/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9171910 [Redact] [Redact] 33795264     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.               06/27/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9171901 [Redact] [Redact] 33501456     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9171900 [Redact] [Redact] 33501470     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-10): Waived on Rate Lock: Collateral cleared by Custodian
 06/10/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9171904 [Redact] [Redact] 33501471     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9171904 [Redact] [Redact] 33706674     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Second Appraisal Fee wasn't disclosed to the borrower on the LE,then disclosed as [Redact] on Final Closing Disclosure. However there was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-19): Sufficient Cure Provided At Closing
   06/19/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9171904 [Redact] [Redact] 33707137     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-19): Client elected to waive the condition on the Non-QM 1st lien
     06/19/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9171911 [Redact] [Redact] 33501758     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-26): (Rate Lock) [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9171911 [Redact] [Redact] 33783780     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The file is missing documentation from the seller confirming the condo is warrantable.       Reviewer Comment (2025-07-24): Seller identified condo is non-warrantable


Seller Comment (2025-07-22): Condo is non warrantable per [Redact] guidelines allowed on [Redact] Non-Warrantable Condominiums (condominiums that do not meet Fannie Mae warrantable guidelines) are allowed on Edge and Access products only. A Full Review Condo Questionnaire is required.
 07/24/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9171916 [Redact] [Redact] 33502103     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-24): (Rate Lock) Delivered [Redact] via [Redact] [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   D A D A A A A A Non QM Non QM No
[Redact] 9171916 [Redact] [Redact] 33725135     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   Purchase Agreement not provided.       Reviewer Comment (2025-06-24): Purchase agreement provided


Seller Comment (2025-06-24): (Rate Lock) Purchase Agreement
 06/24/2025     1 D A D A D A D A D A   [Redact] Second Home Purchase   D A D A A A A A Non QM Non QM No
[Redact] 9171920 [Redact] [Redact] 33502123     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9171920 [Redact] [Redact] 33607857     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-09): Client elected to waive the condition on the Non-QM 1st lien
     06/09/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9173194 [Redact] [Redact] 33505068     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-01): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9173456 [Redact] [Redact] 33507102     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9173456 [Redact] [Redact] 33748632     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Certification Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. TheCertification Fee was disclosed to the borrower on the LE as [Redact] the final CD shows the fee as [Redact] There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9173456 [Redact] [Redact] 33748633     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for HOA/Condo Questionnaire.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The HOA/Condo Questionnaire Fee was disclosed to the borrower on the LE as [Redact], the final CD shows the fee as [Redact]. There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9173540 [Redact] [Redact] 33508221     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A     A A   N/A No
[Redact] 9173541 [Redact] [Redact] 33508329     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-24): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-17): Tracking info
 06/24/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9173543 [Redact] [Redact] 33508406     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-01): Waived on Rate Lock: Collateral cleared by Custodian
 07/01/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9173968 [Redact] [Redact] 33508634     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9173972 [Redact] [Redact] 33508898     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9173972 [Redact] [Redact] 33638470     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             06/12/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9173972 [Redact] [Redact] 33638471     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-06-12): Client elected to waive the condition on the Non-QM 1st lien
     06/12/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9173972 [Redact] [Redact] 33638474     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Second Appraisal Fee wasn't disclosed to the boerrower on the LE, the final CD shows the Second Appraisal Fee  as [Redact], however the was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-12): Sufficient Cure Provided At Closing
   06/12/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9173973 [Redact] [Redact] 33508899     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9173973 [Redact] [Redact] 33732960     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-24): Client elected to waive the condition on the Non-QM 1st lien
     06/24/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9173973 [Redact] [Redact] 33732962     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Second Appraisal Fee wasn't disclosed to the borrower on LE, then it was disclosed as [Redact] on Final Closing Disclosure.  There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9131288 [Redact]   33509087     Credit Credit Miscellaneous Guideline Credit Exception:   Provide 3 months bank statements showing rental deposits ([Redact]/mo).       Reviewer Comment (2025-04-10): Received 2 months Bank statement Bank statement showing rental deposit. Exception Cleared


Buyer Comment (2025-04-09): Please see attached bank statement regarding two months receipt. Thank you.


Reviewer Comment (2025-04-03): Guideline does not states full bank statement, however Lender provided Screenshot which does not shows Borrower Name or evidence this statement belong to Borrower. Guideline Require 2 months Deposit to evidence continuance of lease in month to month Case. Exception Remains


Buyer Comment (2025-04-02): Per Lender : Please find a certification that only 2 months of receipts are required per guidelines. Moreover, no mention that full bank statements are required in guidelines.
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9131287 [Redact]   33509089     Credit Credit Miscellaneous Guideline Credit Exception:   Provide 3 months bank statements showing rental deposits ([Redact]/mo).       Reviewer Comment (2025-04-10): Received 2 Months Bank statement with deposit require for month to month Lease agreement. Exception Cleared


Buyer Comment (2025-04-09): Bank Statements


Reviewer Comment (2025-04-02): Noted. Received clarification about the rent deposit however the screen print does not reflect the account holder information. Therefore complete 2 months bank statement required that reflects the rental deposit. Exception remains.


Buyer Comment (2025-04-02): Per Lender: Please see attached certification
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9131287 [Redact]   33509090     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Missing DSCR Calculation Worksheet       Reviewer Comment (2025-04-07): Received DSCR Calculation worksheet. Exception Cleared


Buyer Comment (2025-04-07): 1008


Buyer Comment (2025-04-07): DSCR calc


Reviewer Comment (2025-04-02): Noted. Received DSCR worksheet however PITIA does not match. PITIA as per sourced document is [Redact] and DSCR worksheet reflects [Redact]orrected DSCR calculation worksheet is required. Exception remains.


Buyer Comment (2025-04-02): Calc
 04/07/2025     1 C A C A C A C A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9037049 [Redact]   33509092     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2025-05-02): Received CDA. Exception Cleared


Buyer Comment (2025-04-30): CDA


Buyer Comment (2025-04-30): [Redact] CDA


Buyer Comment (2025-04-30): CDA provided
 05/02/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Rate/Term   D A C A A A D A   N/A No
[Redact] 9037049 [Redact]   33509093     Credit Credit Credit Documentation Credit A credit report was not pulled for all members of the borrowing entity as required by guidelines.   Please provide Three months cancelled checks, deposit slips or bank records for all rental income.       Reviewer Comment (2025-04-18): Noted. Received copy of bank statement reflecting rental income for all 4 units for [Redact], [Redact] and [Redact]. Exception cleared.


Buyer Comment (2025-04-18): rental income
 04/18/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   D A C A A A D A   N/A No
[Redact] 9083337 [Redact]   33509116     Compliance Compliance Federal Compliance Missing Disclosure Notice of Special Flood Hazard Disclosure Not Provided Timely FDPA Notification Rule: Creditor did not provide a Notice of Special Flood Hazard Disclosure within a reasonable time prior to closing. Disclosure was provided at closing. Flood cert was dated [Redact]       Buyer Comment (2025-04-25): Lender acknowledged non material EV2


Buyer Comment (2025-04-25): LOX
     04/25/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9097956 [Redact]   33509118     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   Business funds can be used for down payment and cash reserves if the borrower(s) own 100% of the business and requires a letter from the accountant of the business or an underwriter cash flow analysis of the business balance sheet to confirm that the withdrawal will not negatively impact the business.       Reviewer Comment (2025-05-08): Received CPA letter confirming no negative impact for using Business fund up to [Redact]nly [Redact] tested for qualification. Exception Cleared


Buyer Comment (2025-05-07): CPA letter


Reviewer Comment (2025-04-28): Noted 1008 however as per guide  require cash flow analysis of business balance sheet to confirm that withdrawal will not negatively impact the business. else provide CPA letter that states funds  withdrawal will not negatively impact the business. exception remains.


Buyer Comment (2025-04-24): Updated 1008 with cash flow analysis.
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9087998 [Redact]   33509120     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   *****[Redact], need CPA letter confirming ownership by borrower and to confirm that the withdrawal will not negatively impact the business.       Reviewer Comment (2025-05-05): Received CPA letter confirm no negative impact for using business fund of business Envision Innovative Solution Inc. Exception Cleared


Buyer Comment (2025-05-01): CPA Lettert
 05/05/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9175010 [Redact] [Redact] 33513352     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-18): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9175014 [Redact] [Redact] 33513383     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:48 am.
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9175016 [Redact] [Redact] 33514033     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9175016 [Redact] [Redact] 33581300     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Second Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. No cure was provided to the borrower at Closing.       Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B B B A A A A Non QM Non QM Yes
[Redact] 9175016 [Redact] [Redact] 33583141     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             06/05/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9175021 [Redact] [Redact] 33514155     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-12): Waived on Rate Lock: Collateral cleared by Custodian
 06/12/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9155739 [Redact]   33525603     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Buyer Comment (2025-05-29): Initial and Final Grade B, accepted
     05/29/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9176099 [Redact] [Redact] 33520952     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9176099 [Redact] [Redact] 33716129     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-06-20): Client elected to waive the condition on the Non-QM 1st lien
     06/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9176099 [Redact] [Redact] 33716131     Compliance Compliance Federal Compliance TRID Defect TRID Initial Closing Disclosure Timing without Waiver TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. The file was missing a copy of the Initial Closing Disclosure       Reviewer Comment (2025-06-24): [Redact] received [Redact] CD, received 3 business days prior to consummation.


Seller Comment (2025-06-23): [Redact]: Please see the attached CD
 06/24/2025     1 C A C A C A C A C A   [Redact] Primary Purchase No Defined Cure C B A A C B A A Non QM Non QM No
[Redact] 9176099 [Redact] [Redact] 33716133     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Loan Discount Points. Fee Amount of [Redact] exceeds tolerance of [Redact]. No cure was provided to the borrower.       Reviewer Comment (2025-06-24): [Redact] received CD dated [Redact] and [Redact] along with the COCs.


Seller Comment (2025-06-23): [Redact]: Please see attached Rate Lock sheets, COC, and corresponding disclosure. On [Redact] the rate changed, negative pricing disclosed on the [Redact] CD
 06/24/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9176094 [Redact] [Redact] 33520953     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9176094 [Redact] [Redact] 33709460     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-19): Sufficient Cure Provided At Closing
   06/19/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9176094 [Redact] [Redact] 33709483     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-06-19): Client elected to waive the condition on the Non-QM 1st lien
     06/19/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9176107 [Redact] [Redact] 33521762     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-14): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/16/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924291     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.               07/14/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924302     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/14/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924304     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business Purpose not provided.       Reviewer Comment (2025-07-16): Received Business Purpose Certificate. Exception Cleared.


Seller Comment (2025-07-14): Business Purpose Certificate
 07/16/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924305     Credit Missing Document General Missing Document Missing Document: Cash-Out Utilization not provided   Cash-Out Utilization not provided.       Reviewer Comment (2025-07-20): Received business purpose certificate. Exception Cleared.


Seller Comment (2025-07-17): cpa letter
 07/20/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924306     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Corporate resolution not provided.       Reviewer Comment (2025-07-20): Received CPA. Exception Cleared.


Seller Comment (2025-07-17): cpa
 07/20/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924307     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided   Guarantor Agreement not provided.       Reviewer Comment (2025-07-16): Received Guarantor Agreement. Exception Cleared.


Seller Comment (2025-07-14): Guarantor Agreement
 07/16/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924309     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Operating Agreement not provided.       Reviewer Comment (2025-07-20): Received CPA. Exception Cleared.


Seller Comment (2025-07-17): business purpose
 07/20/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924310     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   Tax Certificate not provided.       Reviewer Comment (2025-07-16): Received Tax Certificate. Exception Cleared.


Seller Comment (2025-07-14): Tax Certificate
 07/16/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176107 [Redact] [Redact] 33924311     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of Identification not provided.       Reviewer Comment (2025-07-16): Received Driving License . Exception Cleared.


Seller Comment (2025-07-14): Please see attached Drivers' Licenses.
 07/16/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9176449 [Redact] [Redact] 33521906     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9176449 [Redact] [Redact] 33910198     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Verification Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Verification Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower. (       Reviewer Comment (2025-07-11): Sufficient Cure Provided within 60 Days of Closing
   07/11/2025   1 A A A A A A A A A A   [Redact] Second Home Purchase Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35) A A A A A A A A Non QM Non QM Yes
[Redact] 9176452 [Redact] [Redact] 33522185     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:31 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9176453 [Redact] [Redact] 33522191     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-10): (Rate Lock) it is delivered on [Redact]


Seller Comment (2025-06-09): (Rate Lock) it was sent interenally
 06/11/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9176453 [Redact] [Redact] 33578877     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Desk Review Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower.         Reviewer Comment (2025-06-05): Sufficient Cure Provided within 60 Days of Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35) B B A A B B A A Non QM Non QM Yes
[Redact] 9176453 [Redact] [Redact] 33586917     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Qual Method differs from ATR, DTI not Understated Ability to Repay (Dodd-Frank 2014): The Qualification Method used by the lender does not match the ATR payment calculation methods under 1026.43(c)(5), but the method did not render a DTI that is less than that prescribed under ATR.               06/05/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9176456 [Redact] [Redact] 33522460     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): (Rate Lock) [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9176456 [Redact] [Redact] 33810359     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   The note in file was signed individually by [Redact] and [Redact] and signed on behalf of the LLC by both as well.  Since [Redact] signed the note individually, a copy of the 1003, credit report, fraud report, and verification of identification is required.  Note: if the note was intended to be executed by Jeremy only, a revised Note with the correct signature block and signatures is required.       Reviewer Comment (2025-07-24): Received revised Note document. Exception Cleared.


Seller Comment (2025-07-22): See corrected note and addendum. Please cancel.
 07/24/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9176456 [Redact] [Redact] 33810773     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-07-24): Tax cert is in file. Exception Cleared.


Seller Comment (2025-07-22): See pages 269-289 in [Redact].  Please cancel
 07/24/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9176454 [Redact] [Redact] 33522479     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-04): Waived on Rate Lock: Collateral cleared by Custodian
 07/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9176460 [Redact] [Redact] 33522575     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9176460 [Redact] [Redact] 33815796     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   The note in file was signed individually by [Redact] and [Redact] and signed on behalf of the LLC by both as well.  Since [Redact] signed the note individually, a copy of the 1003, credit report, fraud report, and verification of identification is required.  Note: if the note was intended to be executed by Jeremy only, a revised Note with the correct signature block and signatures is required.       Reviewer Comment (2025-07-24): Received revised Note document. Exception Cleared.


Seller Comment (2025-07-22): See corrected note and addendum. Please cancel.
 07/24/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9176460 [Redact] [Redact] 33815981     Credit Credit Credit Documentation Credit No evidence of fraud report in file -         Reviewer Comment (2025-07-24): Borrower is a Authorized Signor. Fraud report is not required. Exception Cleared.


Seller Comment (2025-07-22): Waterfall to [Redact]
 07/24/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9216873 [Redact] [Redact] 33522765     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-22): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/23/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9216873 [Redact] [Redact] 33982903     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.               07/21/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9216873 [Redact] [Redact] 33982904     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.               07/21/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9216873 [Redact] [Redact] 33988861     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___. LTV/CLTV exceeds the guideline max.  Client exception approval in file The representative FICO score exceeds the guideline minimum by at least 40 points. FICO 767 vs min required 720 [Redact],Originator Pre-Close Reviewer Comment (2025-07-21): Client elected to waive the condition with the following Compensating Factors:
1.46 DSCR is 0.31 over min (1.15).
2.[Redact] REO equity.
3 years managing multiple STR properties.
     07/21/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9216873 [Redact] [Redact] 33988862     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Combined loan to value discrepancy. Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___. LTV/CLTV exceeds the guideline max.  Client exception approval in file The representative FICO score exceeds the guideline minimum by at least 40 points. FICO 767 vs min required 720 [Redact],Originator Pre-Close Reviewer Comment (2025-07-21): Client elected to waive the condition with the following Compensating Factors:
1.46 DSCR is 0.31 over min (1.15).
2.[Redact] REO equity.
3 years managing multiple STR properties.
     07/21/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9176467 [Redact] [Redact] 33522922     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9176467 [Redact] [Redact] 33811716     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   The note in file was signed individually by [Redact] and [Redact] and signed on behalf of the LLC by both as well.  Since [Redact] signed the note individually, a copy of the 1003, credit report, fraud report, and verification of identification is required.  Note: if the note was intended to be executed by Jeremy only, a revised Note with the correct signature block and signatures is required.       Reviewer Comment (2025-07-24): Revised Note and PPP Addendum to the Note provided


Seller Comment (2025-07-22): See corrected note and addendum. Please cancel.
 07/24/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
[Redact] 9176473 [Redact] [Redact] 33523203     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9176473 [Redact] [Redact] 33641022     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The credit report fee was disclosed to the borrower on the LE as [Redact], howevr the final CD shows the fee as [Redact], There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-12): Sufficient Cure Provided At Closing
   06/12/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9176470 [Redact] [Redact] 33523204     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9176470 [Redact] [Redact] 33708965     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-20): Client elected to waive the condition on the Non-QM 1st lien
     06/20/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9176470 [Redact] [Redact] 33708968     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Zero Percent Fee Tolerance exceeded for Loan Discount Points. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-06-24): [Redact] received a valid COC.


Seller Comment (2025-06-23): [Redact]: Please see attached Rate Lock sheets, COC, and corresponding disclosure. On [Redact] the rate changed and UW waived, negative pricing disclosed on the [Redact] CD
 06/24/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9176470 [Redact] [Redact] 33708969     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Second Appraisal Fee wasn't disclosed to the borrower on the LE, the final CD shows the fee Amount of [Redact]. There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-24): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Seller Comment (2025-06-23): [Redact]: This was cured at closing, as stated
 06/24/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9176470 [Redact] [Redact] 33730530     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1   A   A   A   A   A   [Redact] Primary Purchase Final CD evidences Cure C B A A C B A A Non QM Non QM Yes
[Redact] 9176523 [Redact] [Redact] 33524075     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-28): please advise if there is anything else is needed


Seller Comment (2025-07-15): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B B B A A A A   N/A No
[Redact] 9176523 [Redact] [Redact] 33908634     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. Commitment Title Policy Amount: [Redact] Original Loan Amount: [Redact]             07/14/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B B B A A A A   N/A No
[Redact] 9176523 [Redact] [Redact] 34018822     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Monthly P\&I does not agree with Schedule SCH: [Redact]               NOTE:[Redact] more info here       Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): Please match the schedule to the note.
 07/31/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Rate/Term   B B B B A A A A   N/A No
[Redact] 9176527 [Redact] [Redact] 33524118     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-16): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-11): (Rate Lock) [Redact]
 06/16/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9176527 [Redact] [Redact] 33586972     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The file is missing documentation from the seller confirming the condo is warrantable.  Note: the HOA questionnaire in file from the HOA is not acceptable.       Reviewer Comment (2025-06-24): Documentation provided verifying the project is warrantable


Seller Comment (2025-06-24): Attached the Condo Review.
 06/24/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9177950 [Redact] [Redact] 33527791     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-22): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9177950 [Redact] [Redact] 33971104     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               07/18/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9177955 [Redact] [Redact] 33528268     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-02): Waived on Rate Lock: Collateral cleared by Custodian
 07/02/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   A A A A A A A A Non QM Non QM No
[Redact] 9178170 [Redact] [Redact] 33528522     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-04): please advise if there is anything else needed to clear this condition


Seller Comment (2025-07-22): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9178170 [Redact] [Redact] 33975248     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/18/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9178170 [Redact] [Redact] 34096009     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Date of Last Payment does not agree with Schedule SCH: [Redact]                 :NOTE: [Redact]       Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-04): please advise if there is anything else needed to clear this condition


Seller Comment (2025-07-30): Please match the schedule to the note.
 08/05/2025     1   A   A   A   A   A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9178204 [Redact] [Redact] 33528915     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9178204 [Redact] [Redact] 33678010     Credit Missing Document General Missing Document Missing Document: 1007 Rent Comparison Schedule not provided   1007 Rent Comparison Schedule not provided.       Reviewer Comment (2025-06-25): The Income Approach section reflects the monthly market rent. Exception Cleared.


Seller Comment (2025-06-24): IF the appraiser is able to complete the Income Approach Market Rent WITHOUT completing a 1007 and we are using the lesser of this [Redact] lease, that would be acceptable without obtaining a 1007. The income approach was completed on appraisal.


Reviewer Comment (2025-06-17): Upon further review, the file is missing the 1007 to verify the market rent.
 06/25/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9178205 [Redact] [Redact] 33529001     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-16): (Rate Lock) [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
[Redact] 9178294 [Redact] [Redact] 33529163     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): [Redact]
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9178294 [Redact] [Redact] 33644056     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-06-16): Additional months statement provided


Seller Comment (2025-06-16): Assets
 06/16/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9178294 [Redact] [Redact] 33834100     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   First Interest Rate Adjustment Date differs from Schedule SCH: [Redact]                :NOTE:[Redact] more info here       Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1   A   A   A   A   A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9178903 [Redact] [Redact] 33531831     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-14): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-10): (Rate Lock) [Redact]
 07/14/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9179142 [Redact] [Redact] 33531904     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9179142 [Redact] [Redact] 33680403     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. sufficient cure was provided.       Reviewer Comment (2025-06-17): Sufficient Cure Provided At Closing
   06/17/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9179142 [Redact] [Redact] 33680404     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. sufficient cure was provided.       Reviewer Comment (2025-06-17): Sufficient Cure Provided At Closing
   06/17/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9179141 [Redact] [Redact] 33531905     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9179141 [Redact] [Redact] 33793059     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-06-27): Client elected to waive the condition on the Non-QM 1st lien
     06/27/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9179141 [Redact] [Redact] 33793062     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Desk Review Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Appraisal Desk Review Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee.       Reviewer Comment (2025-06-27): Sufficient Cure Provided At Closing
   06/27/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9179145 [Redact] [Redact] 33531908     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-13): Waived on Rate Lock: Collateral cleared by Custodian
 06/13/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9179145 [Redact] [Redact] 33621146     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-06-11): Client elected to waive the condition on the Non-QM 1st lien
     06/11/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9179145 [Redact] [Redact] 33621149     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. The Second Appraisal Fee.of [Redact] wasn't disclosed to the borrower on the LE, however there was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-16): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Seller Comment (2025-06-12): [Redact] Please see the attached Final Closing Disclosure and Tolerance Cure breakdown which shows the borrower was provided a credit at closing for the increase in the Appraisal Fee.
 06/16/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Non QM Non QM Yes
[Redact] 9179145 [Redact] [Redact] 33659602     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-16): Sufficient Cure Provided At Closing
   06/16/2025   1   A   A   A   A   A   [Redact] Primary Purchase Final CD evidences Cure C B A A C B A A Non QM Non QM Yes
[Redact] 9110565 [Redact]   33535963     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Required Loan Approval indicating the loan is DSCR and a DSCR Calculation Worksheet detailing the DSCR calculation.       Reviewer Comment (2025-04-25): Received DSCR Calculation worksheet with DSCR Ratio indication loan is DSCR. Exception Cleared


Buyer Comment (2025-04-24): See calculation on 1008 D0220
 04/25/2025     1 C A C A C A C A D A   [Redact] Investment Refinance - Limited Cash-out GSE   D A D A A A A A   N/A No
[Redact] 9110565 [Redact]   33535964     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   CPA letter required to show use of business funds will have negative impact.       Reviewer Comment (2025-05-05): Noted. [Redact] statement for IRA account received for [Redact] and [Redact]. CPA letter not required as business account is not used for closing or reserves. Exception cleared


Buyer Comment (2025-05-02): [Redact] statement


Buyer Comment (2025-05-02): Per lender:  We had [Redact] & [Redact] (business) assets on file. We are now using [Redact] ([Redact] balance) and [Redact] ([Redact] balance) to meet reserves requirement of [Redact]
 05/05/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   D A D A A A A A   N/A No
[Redact] 9110565 [Redact]   33535965     Credit Credit Miscellaneous Guideline Credit Exception:   Lease from [Redact]. Have [Redact] rent in file. Missing [Redact] rent of [Redact].       Reviewer Comment (2025-05-13): LOX provided explaining the deposit breakdown.


Buyer Comment (2025-05-09): LOX


Reviewer Comment (2025-05-08): Updated: Cashiers check confirms first and security deposit less brokers fee for move in which covers [Redact] [Redact]. The LOX provided states the [Redact]+ deposit on [Redact] included that cashier dep and was comingled with other deposits. Guides require evidence of the deposit into account. Provide breakdown off deposit or investor approval to accept and downgrade.


Reviewer Comment (2025-05-08): Provide a LOX from the bwr stating rent was lumped together in the deposit.


Buyer Comment (2025-05-08): See D0250, per Lender This was part of the [Redact] deposit on [Redact] into [Redact] (business), reflecting on the transaction history on file


Reviewer Comment (2025-05-06): Lender is requesting an exception per the LOX provided.


Buyer Comment (2025-05-02): LOX


Reviewer Comment (2025-04-28): cleared by oversite


Reviewer Comment (2025-04-28): Loan modification agreement dated [Redact] which is a transaction prior to current note date [Redact] with lender [Redact] this is prior sale transaction recording date [Redact] with sale price [Redact] and Loan amount of [Redact]lso current lender email confirmation received stating this is not a modification. exception cleared.


Buyer Comment (2025-04-24): Rent check deposti
 05/13/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   D A D A A A A A   N/A No
[Redact] 9110565 [Redact]   33535966     Credit Credit Miscellaneous Guideline Credit Exception:   Loan modification with [Redact] in file dated [Redact]. Loan is ineligible due to a minimum of four years required to have elapsed. Letter of explanation missing.       Reviewer Comment (2025-04-28): Loan modification agreement dated [Redact] which is a transaction prior to current note date [Redact] with lender [Redact] this is prior sale transaction recording date [Redact] with sale price [Redact] and Loan amount of [Redact]lso current lender email confirmation received stating this is not a modification. exception cleared.


Buyer Comment (2025-04-24): Explanation on modification. Note and modification signed at the same time and does not appear to be distress.
 04/28/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   D A D A A A A A   N/A No
[Redact] 9118349 [Redact]   33535976     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided   Require DSCR Calculation Worksheet detailing the DSCR calculation.       Reviewer Comment (2025-05-13): Received 1008 indicating Loan is DSCR and with DSCR calculation Exception Cleared


Buyer Comment (2025-05-09): 1008


Buyer Comment (2025-05-09): 1008 with DSCR calculations
 05/13/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9119153 [Redact]   33535977     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes       Reviewer Comment (2025-05-13): UCDP Score of Fannie Mae (CU score) Provided. Exception Cleared.


Buyer Comment (2025-05-13): CU score
 05/13/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A C A A A D A   N/A No
[Redact] 9119153 [Redact]   33535979     Credit Loan Package Documentation Closing / Title Loan Package Documentation Mising Document: Closing Protection Letter not provided.   Closing Protection Letter is missing in file.       Reviewer Comment (2025-05-13): Received Closing protection letter and associated the same accordingly. Exception Cleared.


Buyer Comment (2025-05-12): CPL
 05/13/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A C A A A D A   N/A No
[Redact] 9119153 [Redact]   33535981     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   Tax Certificate provided does not support the Annual tax amount of [Redact]ax amount was considered from fraud and  Appraisal report. Provide Tax certificate that supports the annual Tax amount for [Redact]       Reviewer Comment (2025-05-13): Tax cert received and associated accordingly. Exception cleared


Buyer Comment (2025-05-13): Tax Bill
 05/13/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A C A A A D A   N/A No
[Redact] 9085475 [Redact]   33537014     Compliance Compliance State Compliance State Defect [Redact] [Redact] Prepayment Penalty Test 2009 Investment Test [Redact] [Redact]: Mortgage loan contains an impermissible prepayment penalty; however Note or Prepay Addendum provides specific language that prepayment penalty will not exceed maximum permitted by applicable law.         Buyer Comment (2025-03-31): Acknowledged as non-material.
     03/31/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   C B C A B B C A   N/A No
[Redact] 9085475 [Redact]   33537015     Property Valuation Valuation Issue Valuation The desk review has a effective date that is other than what the appraisal effective date is. The desk review should have the same effective date as the appraisal   The CDA reflects the effective date as [Redact];  however, the date should be [Redact].       Reviewer Comment (2025-04-14): Corrected CDA provided.


Buyer Comment (2025-04-08): corrected CDA
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B C A   N/A No
[Redact] 9085475 [Redact]   33537016     Credit Hazard Insurance Document Error Hazard Insurance Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.   The mortgagee clause does not reflect ISAOA.       Reviewer Comment (2025-05-08): Corrected mortgagee clause provided.


Buyer Comment (2025-05-08): The policy was updated after closing. see the attached most recent up-to-date policy
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B C A   N/A No
[Redact] 9085387 [Redact]   33537018     Compliance Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   The Final HUD-1 missing page 2.       Reviewer Comment (2025-04-22): Full HUD provided.


Buyer Comment (2025-04-21): HUD


Reviewer Comment (2025-04-14): Unable to clear. HUD-1 provided is still missing the second page.


Buyer Comment (2025-04-08): Final HUD-1 2 pages
 04/22/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A A A D A A A   N/A No
[Redact] 9085365 [Redact]   33537019     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Certificate of Good Standing is missing in the file.       Reviewer Comment (2025-04-22): COGS provided.


Buyer Comment (2025-04-21): Good Standing
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085365 [Redact]   33537022     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___. Lender requesting exception to proceed with just under 9 months of reserves. Borrower has 8.5 months. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 793		 Aggregator,[Redact] Reviewer Comment (2025-04-08): Investor exception provided.


Buyer Comment (2025-04-08): [Redact] has approved the exception
     04/08/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085372 [Redact]   33537026     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided   Closing Protection Letter is missing in file.       Reviewer Comment (2025-04-22): CPL provided.


Buyer Comment (2025-04-21): CPL
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9085427 [Redact]   33537043     Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Minimum Loan Amount discrepancy. Note loan amount of ___ is less than Guideline minimum loan amount of ___. Lender approved exception to proceed with loan amount of [Redact] (minimum is [Redact] per guidelines). Comp factors: 786 FICO, 248.02 months reserves, and 2.10 DSCR. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Guidelines Representative FICO: 700
Representative FICO: 786		 [Redact]

Originator Pre-Close,[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.


Reviewer Comment (2025-04-22): Lender exception in file. Investor must approve.


Buyer Comment (2025-04-21): Lending exception being request. Do not clear update exception. Must be reviewed by investor.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085427 [Redact]   33537044     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with property value of [Redact] (minimum is [Redact] per guidelines). Comp factors: 786 FICO, 248.02 months reserves, and 2.10 DSCR. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 786		 Originator Pre-Close,[Redact] Reviewer Comment (2025-05-01): Exception provided.


Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085491 [Redact]   33537071     Credit Missing Document General Missing Document Missing Document: Cash-Out Utilization not provided   Cash-Out Utilization is missing.       Reviewer Comment (2025-04-10): Received


Buyer Comment (2025-04-04): Cash out utilizaiton
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085491 [Redact]   33537072     Credit Loan Package Documentation Application / Processing Loan Package Documentation FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.   The subject property is located in a FEMA disaster area and no post disaster inspection report was provided.       Reviewer Comment (2025-04-22): PDI provided - no damage.


Buyer Comment (2025-04-21): PDI
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085468 [Redact]   33537084     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Lender approved exception to proceed with dwelling coverage ([Redact]) less than loan amount ([Redact]) - HOI states 100% coinsurance, Extended replacement cost. Comp factors: 33.87 months reserves and 753 FICO. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085468 [Redact]   33537085     Credit Insurance Insurance Documentation Insurance Rent loss insurance is required on all properties and there is no evidence of this insurance in the file.           Reviewer Comment (2025-04-10): Evidence of rent loss received in trailing docs.


Buyer Comment (2025-04-04): REnt Loss Insurance
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085326 [Redact]   33537089     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - File does not contain documentation from lender/seller confirming the condo is warrantable. Project approval and HOA Questionnaire is not provided in file.       Reviewer Comment (2025-04-10): HOA questionnaire received reflecting condo is warrantable


Buyer Comment (2025-04-04): CONDO DOCS
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085326 [Redact]   33537090     Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Missing Blanket Policy for [Redact] was not provided.       Reviewer Comment (2025-04-10): Received


Buyer Comment (2025-04-04): Master policy
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085326 [Redact]   33537091     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided           Reviewer Comment (2025-04-10): Received


Buyer Comment (2025-04-04): Tax cert
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085326 [Redact]   33537093     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided           Reviewer Comment (2025-04-22): CPL provided.


Buyer Comment (2025-04-21): CPL


Reviewer Comment (2025-04-10): In the state of [Redact], a closing attorney's affidavit cannot be accepted in place of a CPL.  A CPL will be required for review of this condition.


Buyer Comment (2025-04-10): This loan was closed in [Redact] by an attorney, not a title company.  CPL's are required if the loan is closed by a title company.  There is a Closing Attorney letter in the file (see DOC #0126 for this document.  Please remove this condition.
 04/22/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085541 [Redact]   33537100     Credit Credit Miscellaneous Guideline Credit Exception:   Lender Exception requested to extend the expiration date on assets by an additional 10 days and Client is Long time [Redact] customer and gave us 3 loans but very much negotiated pricing. They own 26 properties and are a [Redact]. Additionally, there son [Redact] is one of [Redact] best clients having closed 52 loans with [Redact] for likely over [Redact]
With Compensating Factors of:
Cash out, repeat borrower, minor variance.		 Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.		   [Redact]

[Redact]		 Reviewer Comment (2025-04-23): Comp factor 64.90 months.


Reviewer Comment (2025-03-28): Please provide valid compensating factors.
     04/23/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085541 [Redact]   33537101     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with insurance expiring in less than 3 months (Note date [Redact]; HOI expiration date [Redact]). Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.		   [Redact]

[Redact]		 Reviewer Comment (2025-04-23): Investor exception provided. Comp factor 64.90 months reserves.
     04/23/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085471 [Redact]   33537106     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing.   Hazard Insurance Policy Effective Date is after the note date.       Reviewer Comment (2025-04-24): Updated HOI policy provided.


Buyer Comment (2025-04-24): HOI
 04/24/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085471 [Redact]   33537109     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of Identification is missing in file.       Reviewer Comment (2025-05-12): Driver License provided.


Buyer Comment (2025-05-08): Drivers License
 05/12/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085471 [Redact]   33537110     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   File does not contain asset verification to fulfil the reserves requirements.       Reviewer Comment (2025-04-06): Additional assets received in trailing docs.


Buyer Comment (2025-04-02): bank statements
 04/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085328 [Redact]   33537119     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   The Final HUD-1 Settlement statement has no disbursement date.       Reviewer Comment (2025-04-30): Settlement statement provided.


Buyer Comment (2025-04-28): Per Lender: I went to our closing team, and they advised the HUD only references the Settlement Date not Disbursement. Some HUDs have it and others do not. Please advise if we can clear this, thank you


Reviewer Comment (2025-04-06): Condition is not asking for settlement date.  Please provide final HUD1/closing statement reflecting disbursement date of subject transaction.


Buyer Comment (2025-04-02): D0185 pg 63 reflects settlement date [Redact].


Reviewer Comment (2025-04-02): HUD-1 provided in trailing docs has no disbursement date. Please provide one that reflects the Settlement date.


Buyer Comment (2025-04-01): per lender : see HUD and advise if all info is there
 04/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9085328 [Redact]   33537120     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The Background Check for the borrowing entity is missing from the file.       Reviewer Comment (2025-04-02): OFAC was provided in trailing docs.


Buyer Comment (2025-04-01): the background was not available, see OFAC
 04/02/2025     1 C A C A C A C A D A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9085377 [Redact]   33537123     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___. Lender approved exception to proceed at 75% LTV with 1.1 DSCR where minimum DSCR is 1.2. Compensating factor: 28 months reserves. Borrower has owned the subject property for at least 5 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.		 Owned subject property over 5 years

28.77 reserve vs 9.00		 [Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-05-01): Investor accepts and agrees to waive with  compensating factors.


Buyer Comment (2025-05-01): [Redact] accepts.


Reviewer Comment (2025-04-22): Lender exception in file. Investor must approval all exceptions.


Buyer Comment (2025-04-21): Comensating factors: Minimal variance, leased property, 28 months in reserves, 6 rental properties owned in the subject market, no delinquencies on credit, current on all mortgages, no late payments. Please advise if this is sufficent
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085377 [Redact]   33537124     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___. Lender exception received. Unable to waive due to lack of valid compensating factors. Please provide valid compensating factors. Borrower has owned the subject property for at least 5 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.		 Owned subject property over 5 years

28.77 reserve vs 9.00		 [Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-04-30): Investor accepts and agrees to waive with compensating factors: Acceptable with verified leased property, reserves and borrowers history of rental properties.


Buyer Comment (2025-04-30): OK, DSCR 1.11, acceptable with [Redact] with verified leased property, reserves and borrowers history of rental properties.


Reviewer Comment (2025-04-22): Lender exception in file. Investor must approval all exceptions.


Buyer Comment (2025-04-21): per lender Comensating factors: Minimal variance, leased property, 28 months in reserves, 6 rental properties owned in the subject market, no delinquencies on credit, current on all mortgages, no late payments. Please advise if this is sufficent
     04/30/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085505 [Redact]   33537130     Credit Credit Credit Documentation Credit Background check is missing.   The file is missing the background check for the borrowing business entity.       Reviewer Comment (2025-04-10): Not required for entity per guidelines


Buyer Comment (2025-04-04): Entity background was not available, OFAC should be in the file
 04/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   D B D B A A A A   N/A No
[Redact] 9085505 [Redact]   33537131     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Lender approved exception at origination to allow 10 months of rental verification for primary residence instead of the required 12 months. Comp factors: 766 FICO and 29.47 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-06): Investor exception provided.


Reviewer Comment (2025-04-22): Lender exception provided. Not allowed to waive as investor must approve.


Buyer Comment (2025-04-21): VOR Exception
     05/06/2025 2 C B C B C B C B D B   [Redact] Investment Refinance - Rate/Term   D B D B A A A A   N/A No
[Redact] 9085382 [Redact]   33537134     Compliance Compliance State Compliance State Defect [Redact] Prepayment Penalty [Redact] Prepayment Penalty:  Loan contains an impermissible prepayment penalty of greater than 6 months.  Prepay language states prepay will not exceed maximum permitted by applicable law.         Buyer Comment (2025-04-03): Acknowledged non material
     04/03/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9085382 [Redact]   33537137     Credit Insurance Insurance Analysis Insurance Hazard Insurance Policy expires within 90 days of the Note Date. Hazard Insurance Policy Expiration Date ___, Note Date ___ Lender exception approved  to proceeds with the insurance expiring in less than 3 months. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-04-23): Investor approved. Comp factor 30.27 months reserves.
     04/23/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9085360 [Redact]   33537140     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Assets for Closing of  [Redact] is less than Cash From Borrower [Redact].       Reviewer Comment (2025-05-08): Full IRA statement provided.


Buyer Comment (2025-05-08): [Redact] Statement


Reviewer Comment (2025-04-22): Received documentation for [Redact] account that reflects the current balance is [Redact] with the most recent 2 months average balance of [Redact]. Which is a difference of [Redact]. Need full statement to verify no large deposits.


Buyer Comment (2025-04-21): [Redact] Statement


Buyer Comment (2025-04-21): See [Redact] balance info, this should be the account where the wire came from, as evidenced on the confirmation. We also have another statement for the remainder of funds, not sure if that was received


Reviewer Comment (2025-04-14): The wire confirmation is not sufficient to clear exception. Need 1 month bank statement for the account the funds are wired from.


Buyer Comment (2025-04-08): Assets
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9085360 [Redact]   33537141     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Guidelines required 9 months reserves and file was missing sufficient documentation.       Reviewer Comment (2025-05-08): Full IRA statement provided.


Buyer Comment (2025-05-08): [Redact] statement uplaoded
 05/08/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9085454 [Redact]   33537142     Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized. Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value. Sec ID: 22 Note Date:  ___; Lien Position: ___         Buyer Comment (2025-04-10): AVM was lower however a higher-level valuation was subsequently obtained and validated OA


Reviewer Comment (2025-04-10): The file contains an AVM that does not support the appraised value.  A higher valuation product was provided; however, we were still provided the AVM in our file.  Lender can elect to waive this condition; however we are unable to clear/cancel with the documentation provided.


Buyer Comment (2025-04-04): Lender's response: This document was not used for valuation purposes, mainly data collection and is not accurate, we rely on the appraisal and CDA on this
     04/10/2025 2 A A A A A A A A B B   [Redact] Investment Refinance - Cash-out - Other   C B C A A A B B   N/A No
[Redact] 9085454 [Redact]   33537143     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided           Reviewer Comment (2025-04-22): Articles of Organization provided.


Buyer Comment (2025-04-18): Articles of Incorporation
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A A A B B   N/A No
[Redact] 9085432 [Redact]   33537145     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided           Reviewer Comment (2025-04-14): CPL provided.


Buyer Comment (2025-04-08): CPL
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085432 [Redact]   33537146     Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception approved to allow loan exposure over [Redact]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 61.8% LTV vs 75.00 and credit score 761

761 score		 [Redact],Aggregator

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.


Buyer Comment (2025-05-01): [Redact] accepts with comp factors.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085432 [Redact]   33537147     Credit Credit Credit Eligibility Credit Refi Purpose reflects Rate/Term and cash out is greater than the lesser of 2% of the loan amount or [Redact].   Lender exception approved to allow the borrower to received cash proceeds over [Redact], but less than [Redact] on a rate term refinance. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 61.8% LTV vs 75.00 and credit score 761

761 score		 [Redact],Aggregator

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085408 [Redact]   33537148     Credit Credit Miscellaneous Guideline Credit Exception:   Lender requested an exception which was approved to proceed with the subject property having an ADU. Comp factors provided: Rent schedule for ADU provided. Three comps ranging from 0.3 miles away to 7.11 miles away. Experienced borrower with 10 rentals all in GA. Not using the ADU income in DSCR calculation. Additional comps: 28.96 months reserves, DSCR 1.54, and 58.5% LTV. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Miscellaneous		 28.96 vs 9

DSCR 1.54		 [Redact],Aggregator

[Redact]

Aggregator		 Reviewer Comment (2025-05-01): Investor exception provided.


Reviewer Comment (2025-04-24): This exception is not for rent loss. It is for the ADU unit. The guidelines require an exception when there is an ADU unit. Exception cannot be cleared.


Buyer Comment (2025-04-24): Per lender:  Our guides specify that the rent amount used for DSCR should be used for the rent loss coverage calculation. So on this we should have sufficient coverage ([Redact])
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A C A   N/A No
[Redact] 9085408 [Redact]   33537150     Property Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided. - 442 certificate of completion document not provided.       Reviewer Comment (2025-04-14): 442 Certificate of Completion provided.


Buyer Comment (2025-04-10): 1004D/442
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A C A   N/A No
[Redact] 9085408 [Redact]   33537151     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of Identification not provided.       Reviewer Comment (2025-04-14): Driver License provided.


Buyer Comment (2025-04-10): drivers license
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A C A   N/A No
[Redact] 9085408 [Redact]   33537154     Credit Compliance Miscellaneous Compliance Compliance Patriot Act Disclosure is missing -         Reviewer Comment (2025-04-14): Driver License provided.


Buyer Comment (2025-04-10): DL provided
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A C A   N/A No
[Redact] 9085408 [Redact]   33537156     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   File is missing 24 month VOM on subject property, reflecting 0x30x24 pay history.       Reviewer Comment (2025-04-14): VOM provided.


Buyer Comment (2025-04-10): VOM
 04/14/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A C A   N/A No
[Redact] 9085433 [Redact]   33537167     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___. Lender approved exception allowing less than 9 months of reserves as required per guidelines.  Compensating factors: minimal variance, leased, strong credit, 1.20+ DSCR. The representative FICO score exceeds the guideline minimum by at least 40 points. 761 score and DSCR of 1.22 [Redact],Aggregator Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085433 [Redact]   33537168     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with borrower's exposure over [Redact].  [Redact] DSCR 1.11 as of [Redact]. The representative FICO score exceeds the guideline minimum by at least 40 points. 761 score and DSCR of 1.22 [Redact],Aggregator Reviewer Comment (2025-05-01): Investor exception provided.


Buyer Comment (2025-05-01): [Redact] accepts with comp factors.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085433 [Redact]   33537169     Credit Credit Credit Eligibility Credit Refi Purpose reflects Rate/Term and cash out is greater than the lesser of 2% of the loan amount or [Redact].   Lender exception approving cash out more than [Redact] but less than [Redact] on a rate/term deal.  Compensating factors are minimal variance and repeat borrower. The representative FICO score exceeds the guideline minimum by at least 40 points. 761 score and DSCR of 1.22 [Redact],Aggregator Reviewer Comment (2025-05-01): Investor exception provided.


Buyer Comment (2025-05-01): [Redact] accepts.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085339 [Redact]   33537171     Compliance Compliance Federal Compliance Missing Disclosure Acknowledgement of Borrower Receipt of Notice of Special Flood Hazard Disclosure Missing FDPA Notification Rule: Creditor did not retain record of borrower's receipt of Notice of Special Flood Hazard Disclosure. Notice of Special Flood Hazard Disclosure not signed       Buyer Comment (2025-04-24): Lender acknowledged non material EV2
     04/24/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9085339 [Redact]   33537172     Credit Credit Credit Eligibility Guideline Public Record Issue: - Lender approved exception to proceed with a timeshare collection of [Redact]ender comp factor: The borrower initially attempted to dispute the collection with the credit bureaus but was recently denied. He is now in the process of seeking legal advice/representation. This was for a time share property that he never used. Repeat borrower, sufficiently paying on time for outstanding loans with [Redact]. Reserves are 84.33 months. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].		 84.33 reserves [Redact],Aggregator

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9085339 [Redact]   33537173     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided   Missing from file       Reviewer Comment (2025-04-14): Received CPL letter in trailing docs.


Buyer Comment (2025-04-10): Closing Protection
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9085394 [Redact]   33537186     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Missing evidence of [Redact] cash from Refinance (Loan # [Redact]). Please provided Closing Statement from simultaneous closing.       Reviewer Comment (2025-04-22): Closing Statement for other property cash out provided.


Buyer Comment (2025-04-21): see HUD from [Redact]
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9085394 [Redact]   33537187     Credit Credit Miscellaneous Guideline Credit Exception:   Missing proof of Refinance for Loan #[Redact].  Need information of new loan to be added into DTI and proof of [Redact] cash out for reserves and cash to close on this loan.       Reviewer Comment (2025-04-22): Closing Statement for other property cash out provided.


Reviewer Comment (2025-04-10): Condition will be reviewed when missing documentation is received.


Buyer Comment (2025-04-06): Please clear exception. It's a duplicate of the requirement on the other 2 credit exceptions and new loan info (terms of new loan shouldn't be required to update DTI% - subject loan is a DSCR loan).
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9085394 [Redact]   33537188     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Missing proof of Refinance for Loan #[Redact].  Need information of new loan to be added into DTI and proof of [Redact] cash out for reserves and cash to close on this loan.       Reviewer Comment (2025-04-22): Closing Statement for other property cash out provided.


Buyer Comment (2025-04-21): see HUD
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9085398 [Redact]   33537190     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Missing within 365 days from this transaction       Reviewer Comment (2025-04-14): Certificate of Good Standing provided.


Buyer Comment (2025-04-10): COGS
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085398 [Redact]   33537191     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception at origination for the DLA on mortgage exceeding 120 days.  DLA on mortgage with [Redact] is reporting [Redact]. DLA for HELOC with [Redact] reporting [Redact]. Credit report is dated [Redact] and expires [Redact]. Additional comps: 189.89 months reserves and DSCR 1.50. Miscellaneous

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.		 1.50 DSCR Aggregator

[Redact]		 Reviewer Comment (2025-05-01): Lender exception provided.
     05/01/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085399 [Redact]   33537196     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided   Missing from the file       Reviewer Comment (2025-04-22): CPL provided.


Buyer Comment (2025-04-21): CPL
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085404 [Redact]   33537199     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with DLA on MTG over 120 days DLA [Redact]. Comp factors: Approved variance, repeat borrower, 228.38 months reserves, FICO 766. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B A A A A   N/A No
[Redact] 9085404 [Redact]   33537201     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided   Missing from file       Reviewer Comment (2025-04-14): Received CPL letter in trailing docs.


Buyer Comment (2025-04-10): CPL
 04/14/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B A A A A   N/A No
[Redact] 9085405 [Redact]   33537205     Compliance Compliance Federal Compliance Missing Disclosure Acknowledgement of Borrower Receipt of Notice of Special Flood Hazard Disclosure Missing FDPA Notification Rule: Creditor did not retain record of borrower's receipt of Notice of Special Flood Hazard Disclosure. Missing evidence of borrowers receipt of disclosure.       Buyer Comment (2025-04-24): Lender acknowledged non material EV2
     04/24/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9085411 [Redact]   33537207     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided           Reviewer Comment (2025-04-22): Certificate of Good Standing provided.


Buyer Comment (2025-04-21): COGS
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9085422 [Redact]   33537224     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed without a VOR for borrower's primary residence with Comp Factors FICO 788 and 40+ months reserves available. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 47.27 months reserves vs 9

788 score vs 700		 [Redact],Aggregator

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A B B   N/A No
[Redact] 9085422 [Redact]   33537226     Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized. Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value. Sec ID: 22 Note Date:  ___; Lien Position: ___         Buyer Comment (2025-04-08): CDA is acceptable
     04/08/2025 2 A A A A A A A A B B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A B B   N/A No
[Redact] 9085437 [Redact]   33537230     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with a lease to a related party.
Compensating factors: LOE on file. Preliminary review finds that the property is being leased at or around market rent. Approved as long as we use the lower of actual or market rent, not a relative LOE in file. FICO is 742, 31.03 reserves, borrower owns other rentals.		 The representative FICO score exceeds the guideline minimum by at least 40 points.

Miscellaneous		 742 score

31.03 reserves		 [Redact],Aggregator

Aggregator		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085437 [Redact]   33537231     Credit Missing Document General Missing Document Missing Document: Explanation Letter not provided   Missing the LOE mentioned in the exception approval #[Redact].       Reviewer Comment (2025-04-15): Letter of Explanation provided to confirm no relation between borrower and tenant.


Buyer Comment (2025-04-10): LOX
 04/15/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085458 [Redact]   33537241     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___. Lender approved exception to proceed with reserve shortage of [Redact] on R/T Refi. Compensating factors: DSCR 1.22 and 787 FICO. The representative FICO score exceeds the guideline minimum by at least 40 points.   [Redact] Reviewer Comment (2025-05-06): Investor exception provided.


Reviewer Comment (2025-04-26): Lender exception uploaded. Investor approval required.


Buyer Comment (2025-04-25): Disregard will be submitted to investor for approval


Buyer Comment (2025-04-25): Lender exception


Reviewer Comment (2025-04-22): The borrower is required to bring [Redact] to closing plus POCs of [Redact] for a total of [Redact]. In addition, 9 months reserves of [Redact] is required for total assets required of [Redact]. The bank statement provided reflects a balance of [Redact]. Short funds of [Redact].


Buyer Comment (2025-04-21): bank statement
     05/06/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085500 [Redact]   33537249     Compliance Compliance Federal Compliance Missing Disclosure Acknowledgement of Borrower Receipt of Notice of Special Flood Hazard Disclosure Missing FDPA Notification Rule: Creditor did not retain record of borrower's receipt of Notice of Special Flood Hazard Disclosure.         Buyer Comment (2025-04-24): Lender acknowledged non material EV2
     04/24/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9085507 [Redact]   33537252     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Total cash-out discrepancy. HUD-1 total cash-out of ___ is greater than Guideline total cash-out of ___. Lender approved exception to proceed with R/T Refi where borrower is getting more than [Redact] cash out but less than [Redact] (cash to borrower is [Redact]). Comp factors: 753 FICO and 24.50 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085507 [Redact]   33537253     Credit Insurance Insurance Documentation Insurance Hazard Insurance Error: Subject hazard insurance premium is missing from evidence of insurance.   The file is missing the hazard insurance premium amount.       Reviewer Comment (2025-04-22): Received insurance premium.


Buyer Comment (2025-04-21): see premium, we used [Redact]
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B A A A A   N/A No
[Redact] 9085509 [Redact]   33537259     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - Subject Property is Condo, however there is no condo questionnaire or project approval which states that the condo is warrantable.       Reviewer Comment (2025-04-22): Condo Questionnaire provided. Exception was added for non warrantable issues.


Buyer Comment (2025-04-21): Condo docs
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537260     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with condo association occupancy of 28% - 30% required and investor concentration of 72% where 70% is max requirement. Comp factors: FICO 810 and 297.06 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537262     Compliance Compliance State Compliance State Late Charge Note Error: Note late charge percentage exceeds maximum per state           Buyer Comment (2025-04-16): Acknowledged non material
     04/16/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537263     Compliance Loan Package Documentation Closing / Title Loan Package Documentation Note Error: Note grace period days less than minimum per state           Buyer Comment (2025-04-16): Acknowledged non material
     04/16/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537264     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   The file contains an HO-6 policy that reflects coverage of [Redact]he property is a condo and the is missing the HOA Master Policy.       Reviewer Comment (2025-04-22): Condo master policy provided.


Buyer Comment (2025-04-21): see condo docs
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537265     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: HOA Questionnaire not provided   The guidelines require the Condo Questionnaire, which was not provided in the file.       Reviewer Comment (2025-04-22): Condo Questionnaire provided.


Buyer Comment (2025-04-21): see condo docs
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537266     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided           Reviewer Comment (2025-04-22): Certificate of Good Standing provided.


Buyer Comment (2025-04-21): COGS
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537267     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The guidelines require a Current Annual Budget for the condomimum project, which was not provided in the file.       Reviewer Comment (2025-04-22): Condo budget provided.


Buyer Comment (2025-04-21): see condo docs
 04/22/2025     1 C A C A C A C A D A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537268     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The guidelines require a Current Balance Sheet (dated within the last 60 days) for the condominium project, which was not provided in the file.       Reviewer Comment (2025-04-22): Balance Sheet provided.
 04/22/2025     1 C A C A C A C A D A   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085509 [Redact]   33537269     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Lender approved exception for DLA > 90 days (credit report dated [Redact]; DLA [Redact]). Comp factors: 810 FICO and 297.06 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B D B   [Redact] Investment Refinance - Cash-out - Other   D B D B B B A A   N/A No
[Redact] 9085517 [Redact]   33537276     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with no mortgages verified for borrower - borrower currently lives with parents - all mortgages are with LendingOne with the oldest mortgage closing [Redact].  Comp factors, good experience, 786 FICO, 110.31 months reserves, DSCR 2.15. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B A A A A   N/A No
[Redact] 9085517 [Redact]   33537277     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   File is missing the counteroffer to the purchase agreement mentioned on the signature page, signed by all parties.       Reviewer Comment (2025-04-22): Counter Offer provided.


Buyer Comment (2025-04-21): Counter Offer


Buyer Comment (2025-04-21): Purchase Contract
 04/22/2025     1   A   A   A   A   A   [Redact] Investment Purchase   C B C B A A A A   N/A No
[Redact] 9085518 [Redact]   33537279     Compliance Compliance Federal Compliance Missing Disclosure Acknowledgement of Borrower Receipt of Notice of Special Flood Hazard Disclosure Missing FDPA Notification Rule: Creditor did not retain record of borrower's receipt of Notice of Special Flood Hazard Disclosure. Notice of special flood hazard disclosure in file was not signed by borrower.       Buyer Comment (2025-04-24): Lender acknowledged non material EV2
     04/24/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9085522 [Redact]   33537287     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.         Reviewer Comment (2025-04-22): Marked up title commitment along with the closing statement confirming the policy coverage amount.


Buyer Comment (2025-04-18): we will provide the final title as a trailing doc, see marked up title with loan amount to be updated
 04/22/2025     1 B A B A B A B A B A   [Redact] Investment Refinance - Cash-out - Other   B A B A A A A A   N/A No
[Redact] 9085526 [Redact]   33537291     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The mortgage on the credit report have a DLA of [Redact], which is more than 90 days prior to the note date of [Redact] as the 90 days would be [Redact]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-12): Investor exception provided. Comp factors: 44.03 months reserves, 761 FICO, and 1.56 DSCR.


Reviewer Comment (2025-04-22): Per the guidelines,  Underwriting discretion may be applied in the event mortgage DLA is greater than 90 but less than 120 days. The file does not contain any documentation from the underwriter regarding their decision to exceed the 90 days.


Buyer Comment (2025-04-21): per lender : UW was comfortable extending DLA to 120 via their discretion due to strong FICO
     05/12/2025 2 C B C B C B C B D B   [Redact] Investment Purchase   D B D B A A A A   N/A No
[Redact] 9085530 [Redact]   33537297     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided           Reviewer Comment (2025-04-24): COGS provided.


Buyer Comment (2025-04-22): Good Standing
 04/24/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A   N/A No
[Redact] 9085530 [Redact]   33537299     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Lender approved exception for:

Loan amount is [Redact]welling coverage is [Redact] and includes replacement cost up to the dwelling coverage limits. Variance is less than 5%
 
Compensating factors noted are:
Good credit score with 757 middle FICO, good experience with 5 verified rental properties owned, subject property is leased long-term.		 The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.   [Redact] Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A   N/A No
[Redact] 9085530 [Redact]   33537301     Compliance Compliance State Compliance Misc. State Level Colorado Consumer Credit Code (First Lien Refinance Notice Not Provided) [Redact] Consumer Credit Code: Borrower not provided First Lien Refinance Notice. [Redact] CCC First Lien Disclosure is missing.       Buyer Comment (2025-04-24): Lender acknowledged non material EV2
     04/24/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A   N/A No
[Redact] 9085530 [Redact]   33537302     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - The statement at Doc ID 106 does not contain a financial institution name.  The name at the top is a business entity involved in our subject transaction.       Reviewer Comment (2025-04-24): Bank letter provided confirming bank name.


Buyer Comment (2025-04-22): see an older letter from the bank confirming the account number with the bank letterhead [Redact] Edit|Delete
 04/24/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A   N/A No
[Redact] 9085532 [Redact]   33537306     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with DLA . 120 days - most recent DLA is [Redact]; note date [Redact]). Comp factors: FICO 761 and 33.414 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B A A A A   N/A No
[Redact] 9085532 [Redact]   33537307     Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception provided to proceed with borrower current exposure > [Redact]omp factors: FICO 761 and 33.414 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B A A A A   N/A No
[Redact] 9085543 [Redact]   33537323     Credit Insurance Insurance Analysis Insurance Hazard Insurance Policy expires within 90 days of the Note Date. Hazard Insurance Policy Expiration Date ___, Note Date ___ Lender requested an exception which was approved to proceed with the insurance expiring in less than 3 months, Compensating factor: repeat borrower, strong credit, subject VOM will be on file before closing. FICO 752 and 68.26 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B B B A A A A   N/A No
[Redact] 9085543 [Redact]   33537325     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception at origination for the DLA of mortgage on credit being greater than 120 days.  DLA [Redact], which is 281 days prior to closing.  Compensating factors, repeat borrower, strong credit, subject VOM will be on file before closing. FICO 752 and 68.26 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Rate/Term   B B B B A A A A   N/A No
[Redact] 9085550 [Redact]   33537327     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with mortgage DLA > 120 days (most recent DLA is [Redact] (note date [Redact]). Comp factors: 70.63 months reserves and DSCR 2.01. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B A A A A   N/A No
[Redact] 9085553 [Redact]   33537332     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Certificate of Good Standing is missing in the file       Reviewer Comment (2025-04-22): COGS provided.


Buyer Comment (2025-04-18): Cert of good standing
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9085560 [Redact]   33537337     Credit Insurance Insurance Analysis Insurance Hazard Insurance Policy expires within 90 days of the Note Date. Hazard Insurance Policy Expiration Date ___, Note Date ___ Lender approved exception to proceed with HOI policy expiring within 90 days of the note date (HOI expiration date [Redact]; note date [Redact]). Comp factors: FICO 757 and 179.80 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9085560 [Redact]   33537338     Compliance Compliance State Compliance State Defect [Redact] Prepayment Penalty [Redact] Prepayment Penalty: Loan prepay term of 60 months exceeds state maximum of 36 months.   Prepay language states prepay will not exceed maximum permitted by applicable law.         Buyer Comment (2025-04-16): Acknowledged as non-material
     04/16/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B B B A A   N/A No
[Redact] 9085565 [Redact]   33537341     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with subject being considered Rural per USDA Rural Designation (neighborhood characteristics - Suburban; Zoning- PUD). Comp factors: DSCR 1.23 and 55.36 months reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085566 [Redact]   33537343     Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized. Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value. Sec ID: 22 Note Date:  ___; Lien Position: ___ Primary Appraisal reflects appraised value as [Redact], however AVM shows the appraised value as[Redact].       Buyer Comment (2025-04-18): CDA is [Redact] and is still valid.  Do not use the AVM
     04/18/2025 2 A A A A A A A A B B   [Redact] Investment Refinance - Cash-out - Other   C B C A A A B B   N/A No
[Redact] 9085566 [Redact]   33537345     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   The Certificate of Good Standing in the file is not dated; therefore, cannot be determined if it is within 365 days of the note date.       Reviewer Comment (2025-04-22): Received COGS dated within 90 days of note.


Buyer Comment (2025-04-18): cert of good standing
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A A A B B   N/A No
[Redact] 9085573 [Redact]   33537356     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   The file contains an Amendment to Operating Agreement for the borrowing business entity; however, the full Operating Agreement is missing.       Reviewer Comment (2025-04-22): OA provided.


Buyer Comment (2025-04-18): Operating agreement
 04/22/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085573 [Redact]   33537357     Credit Credit Miscellaneous Guideline Credit Exception:   Hazard insurance declaration page does not reflect LLC as the name insured. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-05-12): Investor exception provided. Comp factors: 77.39 months reserves, 732 FICO, and 1.46 DSCR.


Buyer Comment (2025-05-12): Please disregard


Buyer Comment (2025-05-12): Exception approval


Reviewer Comment (2025-04-22): Guidelines indicate the business entity must be listed as the insured. The LLC being listed as additional insured is not sufficient.


Buyer Comment (2025-04-18): LLC is listed as additional insured on the policy, this is acceptable
     05/12/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085573 [Redact]   33537359     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with Full Repair Cost on HOI instead of Replacement Cost. Comp factors: 77.39 months reserves and 1.46 DSCR. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085574 [Redact]   33537360     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2025-04-22): Final policy provided.
 04/22/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085574 [Redact]   33537361     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.           Reviewer Comment (2025-04-22): Final policy provided.


Buyer Comment (2025-04-18): final title policy
 04/22/2025     1 B A B A B A B A B A   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085574 [Redact]   33537362     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with Full Repair Cost on HOI instead of Replacement Cost. Comp factors: 84.63 months reserves and 1.63 DSCR. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085579 [Redact]   33537367     Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized. Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value. Sec ID: 22 Note Date:  ___; Lien Position: ___ The AVM report reflects a value is [Redact] and and the appraisal reflects a value of [Redact].       Buyer Comment (2025-04-15): CDA is valid with a value of [Redact] dated [Redact]
     04/15/2025 2 A A A A A A A A B B   [Redact] Investment Refinance - Cash-out - Other   D B D B A A B B   N/A No
[Redact] 9085579 [Redact]   33537368     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The mortgage on the credit report have a DLA of [Redact], which is more than 90 days prior to the note date of [Redact] as the 90 days would be [Redact]. Borrower has owned the subject property for at least 5 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.		   [Redact]

[Redact]		 Reviewer Comment (2025-05-12): Investor exception provided. LTV 66% and 60.48 months reserves.
     05/12/2025 2 C B C B C B C B D B   [Redact] Investment Refinance - Cash-out - Other   D B D B A A B B   N/A No
[Redact] 9085582 [Redact]   33537372     Credit Credit Miscellaneous Guideline Credit Exception:   Please provide 0x30x24 mortgage history for both mortgages on subject property paid through closing.       Reviewer Comment (2025-04-24): VOMs provided.


Buyer Comment (2025-04-22): VOM


Buyer Comment (2025-04-22): Lender's response: Credit report for [Redact] has multiple mortgages reporting with no delinquencies. we also have VOM on file
 04/24/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Rate/Term   A A A A A A A A   N/A No
[Redact] 9085583 [Redact]   33537374     Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized. Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value. Sec ID: 22 Note Date:  ___; Lien Position: ___         Buyer Comment (2025-04-17): AVM was lower however a higher-level valuation was subsequently obtained and validated OA.
     04/17/2025 2 A A A A A A A A B B   [Redact] Investment Refinance - Cash-out - Other   B B A A A A B B   N/A No
[Redact] 9180448 [Redact] [Redact] 33538247     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-26): Waived on Rate Lock: Collateral cleared by Custodian
 06/26/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9180448 [Redact] [Redact] 33681092     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The Preliminary title policy is within CA, does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.             06/18/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9180448 [Redact] [Redact] 33681184     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Administration Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-17): Sufficient Cure Provided At Closing
   06/17/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B B B A A A A Non QM Non QM Yes
[Redact] 9180808 [Redact] [Redact] 33538730     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9180812 [Redact] [Redact] 33538749     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-25): (Rate Lock) Delivered [Redact] via [Redact] # [Redact]
 06/27/2025     1 A A A A A A A A A A   [Redact] Second Home Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9180812 [Redact] [Redact] 33733079     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal (Report Date [Redact]) at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             06/24/2025 2 B B B B B B B B B B   [Redact] Second Home Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9182318 [Redact] [Redact] 33542509     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9182504 [Redact] [Redact] 33544296     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-24): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-18): (Rate Lock) [Redact]
 06/24/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9182504 [Redact] [Redact] 33673899     Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   The file was missing a copy of the final title policy.       Reviewer Comment (2025-06-29): Received final title. Exception Cleared.


Seller Comment (2025-06-27): Attached the Final Title
 06/29/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9182504 [Redact] [Redact] 33673901     Credit Loan Package Documentation Application / Processing Insurance Missing Document: Flood Certificate not provided   Flood certificate was not provided.       Reviewer Comment (2025-06-29): Received flood certificate. Exception Cleared.


Seller Comment (2025-06-27): Attached the Flood Certificate.
 06/29/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9182504 [Redact] [Redact] 33673902     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Title Preliminary not provided   The file was missing a copy of the title preliminary.       Reviewer Comment (2025-06-29): Received final title. Exception Cleared.


Seller Comment (2025-06-27): Attached the Preliminary Title and Supplement.
 06/29/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9182505 [Redact] [Redact] 33544390     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-26): (Rate Lock) [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9182505 [Redact] [Redact] 33717996     Credit Credit Miscellaneous Guideline Credit Exception:   Exception requested for layered entity for title vesting . Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Post close assets: [Redact] all liquid 35 months reserves where 3 is required (11X) Originator Pre-Close,Aggregator,[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-06-20): Client elected to waive the condition with the following Compensating Factors:
Credit Depth: 21 years trade history 20 years mortgage history paid as agreed
DSCR 1.06 where .8 is minimum
Post close assets: [Redact] all liquid 35 months reserves where 3 is required (11X)
     06/20/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9182505 [Redact] [Redact] 33718776     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The HOA questionnaire from the HOA is not acceptable.  Documentation/Confirmation from the lender confirming the project is warrantable is required.  Note: the FNMA CPM states "No Fannie Mae Review" was completed.       Reviewer Comment (2025-07-24): Seller provided documentation verifying project was warrantable


Seller Comment (2025-07-22): See attached condo review.
 07/24/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B     A A   N/A No
[Redact] 9182506 [Redact] [Redact] 33544412     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-23): (Rate Lock) [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9183093 [Redact] [Redact] 33546290     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-19): Waived on Rate Lock: Collateral cleared by Custodian
 06/19/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B A A A B A A A Exempt from ATR Exempt from ATR No
[Redact] 9183093 [Redact] [Redact] 33670652     Compliance Loan Package Documentation Application / Processing Missing, Incorrect, or Incomplete Final or Initial 1003 Missing Document: Missing Lender's Initial 1003   Lender's initial 1003 Not provided       Reviewer Comment (2025-06-30): Initial 1003 provided


Seller Comment (2025-06-30): [Redact]: Please see attached.


Seller Comment (2025-06-30): [Redact]- see attached


Reviewer Comment (2025-06-20): An additional copy of the final 1003 was provided.  Condition remains


Seller Comment (2025-06-20): [Redact]- see attached
 06/30/2025     1 B A B A B A B A B A   [Redact] Investment Purchase   B A A A B A A A Exempt from ATR Exempt from ATR No
[Redact] 9183148 [Redact] [Redact] 33556456     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-30): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9183150 [Redact] [Redact] 33556566     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-14): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9183210 [Redact] [Redact] 33557675     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9183210 [Redact] [Redact] 33732909     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Appraisal Fee was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] on Final Closing Disclosure dated [Redact]. There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9183210 [Redact] [Redact] 33732910     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Second Appraisal Fee wasn't disclosed to the borrower on the Loan Estimate , then disclosed as [Redact] on Final Closing Disclosure dated [Redact].There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9184540 [Redact] [Redact] 33558007     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-01): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-30): (Rate Lock) TRACKING #[Redact]
 07/01/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9184540 [Redact] [Redact] 33804180     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-28): Sufficient Cure Provided At Closing
   06/28/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9184564 [Redact] [Redact] 33558845     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-24): Waived on Rate Lock: Collateral cleared by Custodian
 06/24/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   C A C A A A A A Non QM Non QM No
[Redact] 9184564 [Redact] [Redact] 33707259     Credit Guideline Guideline Issue Guideline Missing required Transcript (1040) or W-2 Transcript. - The file is missing the tax return transcript or 1099 transcript to support the co-borrower's [Redact] income.       Reviewer Comment (2025-06-25): Received 1099 Transcript. Exception Cleared.


Seller Comment (2025-06-24): Transcripts
 06/25/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C A C A A A A A Non QM Non QM No
[Redact] 9185163 [Redact] [Redact] 33568983     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9185163 [Redact] [Redact] 33715457     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-20): Client elected to waive the condition on the Non-QM 1st lien
     06/20/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9186006 [Redact] [Redact] 33574204     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Second Home Refinance - Cash-out - Other   A A A A A A A A Non QM Non QM No
[Redact] 9186006 [Redact] [Redact] 33794368     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Second Appraisal Fee wasn't disclosed to the borrower  on LE, then disclosed as [Redact] on Final Closing Disclosure. There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-27): Sufficient Cure Provided At Closing
   06/27/2025   1 A A A A A A A A A A   [Redact] Second Home Refinance - Cash-out - Other Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9186508 [Redact] [Redact] 33577403     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9186509 [Redact] [Redact] 33577414     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-18): (Rate Lock) [Redact]
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9187091 [Redact] [Redact] 33582756     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   A A A A A A A A   N/A No
[Redact] 9187093 [Redact] [Redact] 33583278     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9187093 [Redact] [Redact] 33786927     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Appraisal Fee was last disclosed as [Redact] on Loan Estimate then disclosed as [Redact] on Final Closing Disclosure dated [Redact]. There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-26): Sufficient Cure Provided At Closing
   06/26/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9187093 [Redact] [Redact] 33786928     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Credit Report Fee was last disclosed as [Redact] on Loan Estimate then disclosed as [Redact] on Final Closing Disclosure dated [Redact]. There was a lender credit to cover the cost to cure.       Reviewer Comment (2025-06-26): Sufficient Cure Provided At Closing
   06/26/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9187151 [Redact] [Redact] 33584037     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-22): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9187151 [Redact] [Redact] 33974399     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Calculated PITIA months reserves of 11.98 is less than Guideline PITIA months reserves of 12.00.       Reviewer Comment (2025-08-06): Paid invoices for POC fees provided and there are sufficient reserves


Seller Comment (2025-08-06): Please see attached credit report invoice.


Reviewer Comment (2025-08-06): EMD was verified. Required invoice for credit report fee paid before closing to meet reserve requirement. Exception Remains.


Seller Comment (2025-08-05): UW response: EMD was verified.  The bank statement and check are attached.


Reviewer Comment (2025-08-04): As per the Final Closing Disclosure (CD), the Cash to Close is [Redact]. In addition, an Earnest Money Deposit (EMD) of [Redact] and Prepaid Closing Costs of [Redact] were paid outside of closing. Therefore, the total funds required to close amount to [Redact]. Additional assets are required to meet the reserve requirements. Exception Remains.


Seller Comment (2025-08-01): Please see attached final CD.  

UW management provided the below response: We have nothing in the file to show cash to close was [Redact].  Can they please provide the document that they are showing for this?  We are showing [Redact] cash to close.  I do not see where the additional [Redact] was needed.  

Can you please advise where you are seeing the calculated cash to close as [Redact].


Reviewer Comment (2025-07-29): As per final CD, cash to close is [Redact] and calculated cash to close is [Redact]. Additional assets required to met reserve requirement. Exception Remains.


Seller Comment (2025-07-28): UW response: Final CD is showing borrower cash to close is [Redact]. Underwriter was using [Redact].  This covers the difference and gives us enough assets for reserves for the 12 months.


Reviewer Comment (2025-07-24): Per the Final Closing Disclosure, the actual PITIA is [Redact], which includes Principal & Interest (P&I) of [Redact], Property Taxes of [Redact], Homeowner's Insurance (HOI) of [Redact], and Homeowners Association (HOA) dues of [Redact]. Additional assets are required to meet the reserve requirements. Exception Remains.


Seller Comment (2025-07-22): UW response: The actual PITIA on the final CD is [Redact] a month which changes the reserves required to [Redact] and borrower has over 12 months of reserves.
 08/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9137912 [Redact]   33584319     Credit Credit Miscellaneous Guideline Credit Exception:   Missing rate lock to confirm which guidelines to use       Reviewer Comment (2025-05-14): Rate lock provided


Buyer Comment (2025-05-12): Copy of Lock Confirmation attached
 05/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9137876 [Redact]   33584326     Credit Credit Miscellaneous Guideline Credit Exception:   Corporate Resolution was not signed by the other Owner with 45% ownership.       Reviewer Comment (2025-05-21): Signed unanimous consent provided


Buyer Comment (2025-05-16): Uploaded signed unanimous consent
 05/21/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9158391 [Redact]   33584360     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing.           Reviewer Comment (2025-05-27): HOI provided


Buyer Comment (2025-05-27): This is a refi transaction...I've attached the haz ins for [Redact]-[Redact]...please clear condition.
 05/27/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9187157 [Redact] [Redact] 33585049     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-02): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-01): Tracking was provided on [Redact], showing the Note was delivered on[Redact]. Please clear condition.


Seller Comment (2025-06-25): [Redact] [Redact] - Delivered [Redact]
 07/02/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9187157 [Redact] [Redact] 33732641     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing a copy of Insurance verification.       Reviewer Comment (2025-06-26): Received Insurance verification. Exception Cleared.


Seller Comment (2025-06-25): REO insurance verification
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9187157 [Redact] [Redact] 33733478     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             06/24/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9187196 [Redact] [Redact] 33586139     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-22): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B B B A A A A   N/A No
[Redact] 9187196 [Redact] [Redact] 33920240     Credit Credit Miscellaneous Guideline Credit Exception:   Exception approval is provided to Allow ineligible borrower (non-permanent resident).  Approved with compensating factors: Borrower has been non -permanent since [Redact] per Visa with several renewals and actual LTV is 67.34% vs 80%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.		 Post-close reserves [Redact] (17x; subject [Redact]x6= [Redact]).

LTV 67.34 is 12 below program maximum (80).		 [Redact],Originator Pre-Close,Aggregator

Originator Pre-Close,Aggregator,[Redact]		 Reviewer Comment (2025-07-14): Client elect to waive with compensating factors:
Borrower is a Non-Permanent Resident Alien with H1B status (eligible under [Redact]) and history of renewal.
Credit depth (17 years) including mortgage history 10+ years all paid as agreed.
LTV 67.34 is 12 below program maximum (80).
Post-close reserves 318771 (17x; subject 2997x6= 17982).
     07/14/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B B B A A A A   N/A No
[Redact] 9187198 [Redact] [Redact] 33586360     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-07): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9187207 [Redact] [Redact] 33586367     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:54 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C A B B A A   N/A No
[Redact] 9187207 [Redact] [Redact] 34014932     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. No documentation in file to evidence receipt of the appraisal by the borrowers.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   C B C A B B A A   N/A No
[Redact] 9187207 [Redact] [Redact] 34068569     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months consecutive statements are required.  The file only contained the statement from [Redact]-[Redact] and a statement from [Redact]-[Redact]. Provide the [Redact]-[Redact] statement.       Reviewer Comment (2025-08-06): As per guideline, transactions do not require reserves if amount <[Redact], housing payment is decreasing and no dereogatory credit. Exception Cleared.


Seller Comment (2025-08-05): UW response: See asset worksheet stating why reserves were not required as well as no assets needed for closing.
 08/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C A B B A A   N/A No
[Redact] 9187207 [Redact] [Redact] 34068571     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per the guidelines, 2 months statements are required.  The file only contained 1 month with an end date of [Redact].       Reviewer Comment (2025-08-06): As per guideline, transactions do not require reserves if amount <[Redact], housing payment is decreasing and no dereogatory credit. Exception Cleared.


Seller Comment (2025-08-05): UW response: See asset worksheet stating why reserves were not required as well as no assets needed for closing.
 08/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C A B B A A   N/A No
[Redact] 9187208 [Redact] [Redact] 33586778     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-22): (Rate Lock) [Redact]
 07/25/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9187208 [Redact] [Redact] 33980063     Compliance Compliance Federal Compliance TRID TRID Lender Credit Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Lender Credits. Final Lender Credit of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-07-18): Sufficient Cure Provided At Closing
   07/18/2025   1 A A A A A A A A A A   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM Yes
[Redact] 9187208 [Redact] [Redact] 33980065     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-07-18): Sufficient Cure Provided At Closing
   07/18/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B B B A A A A Non QM Non QM Yes
[Redact] 9187208 [Redact] [Redact] 33995748     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is renting current residence and 12 months verification of rent cannot be provided. Client approved exception in loan file The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%. LTV 39 where 85 is maximum [Redact],Originator Pre-Close,Aggregator Reviewer Comment (2025-07-21): Client elect to waive with compensating factors:
LTV 39 where 85 is maximum
Credit depth:20 year mortgage history 22 year trade history all paid as agreed.
Home Ownership: Borrower owns 6 other properties with REO equity of [Redact]
     07/21/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B B B A A A A Non QM Non QM No
[Redact] 9189104 [Redact] [Redact] 33592553     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-09): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9189104 [Redact] [Redact] 33828076     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/02/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9190353 [Redact] [Redact] 33593955     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-28): please advise if there is anything else you need to clear this suspense item


Seller Comment (2025-07-16): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9190353 [Redact] [Redact] 33946337     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of Identification not provided.       Reviewer Comment (2025-07-17): Received Driving License . Exception Cleared.


Seller Comment (2025-07-16): Verification of Identification
 07/17/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9190353 [Redact] [Redact] 33946349     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/16/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9190353 [Redact] [Redact] 34018825     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Monthly P\&I does not agree with Schedule SCH: [Redact]              NOTE:[Redact] more info here       Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): Please match the schedule to the Note.
 07/30/2025     1   A   A   A   A   A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9190414 [Redact] [Redact] 33600603     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9191414 [Redact] [Redact] 33607151     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-02): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9191729 [Redact] [Redact] 33611543     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:31 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9192925 [Redact] [Redact] 33616539     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-04): Waived on Rate Lock: Collateral cleared by Custodian
 07/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9193047 [Redact] [Redact] 33617582     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B A B B A A A Non QM Non QM No
[Redact] 9193047 [Redact] [Redact] 33734502     Compliance Compliance Federal Compliance RESPA RESPA Disclosure - List of Homeownership Counseling Organizations Missing RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower. The file was missing a copy of the Homeownership Counseling  disclosure or proof of the borrower's receipt within 3 days of the application date.       Reviewer Comment (2025-06-27): Disclosure provided


Seller Comment (2025-06-26): [Redact] Please see attached Housing counselors disclosure
 06/27/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Cash-out - Other   B B A B B A A A Non QM Non QM No
[Redact] 9193047 [Redact] [Redact] 33734503     Compliance Compliance State Compliance Misc. State Level Maryland Counseling Agencies Disclosure Not in File [Redact] [Redact] - No evidence of counseling agencies list or required counseling disclosure language per [Redact] [Redact]. No evidence of counseling agencies list or required counseling disclosure language per [Redact] [Redact].       Reviewer Comment (2025-06-27): Disclosure provided


Seller Comment (2025-06-26): [Redact] Please see attached Housing counselors disclosure
 06/27/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Cash-out - Other   B B A B B A A A Non QM Non QM No
[Redact] 9193047 [Redact] [Redact] 33734504     Compliance Compliance State Compliance Misc. State Level Maryland Mortgage Lending Regulations (Disclosure of Taxes and Insurance Not Provided) [Redact] Mortgage Lending Regulations: Borrower did not receive disclosure on responsibility for payment of taxes and insurance. Borrower did not receive disclosure on responsibility for payment of taxes and insurance.       Reviewer Comment (2025-06-26): Received disclosure. Exception Cleared.


Seller Comment (2025-06-26): [Redact] Please see attached Mortgage Lending Disclosure
 06/26/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Cash-out - Other   B B A B B A A A Non QM Non QM No
[Redact] 9193047 [Redact] [Redact] 33734505     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Zero Percent Fee Tolerance exceeded for Transfer Tax. Fee Amount of [Redact] exceeds tolerance of [Redact]. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure B B A B B A A A Non QM Non QM Yes
[Redact] 9193047 [Redact] [Redact] 34097496     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.               07/30/2025 2   B   B   B   B   B   [Redact] Primary Refinance - Cash-out - Other   B B A B B A A A Non QM Non QM No
[Redact] 9193333 [Redact] [Redact] 33619209     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-01): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-27): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/01/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A A A     C A   N/A No
[Redact] 9193333 [Redact] [Redact] 33723777     Property Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided. - Appraisal was made subject to and form 442 was not provided in the file.       Reviewer Comment (2025-07-29): Received 442. Exception Cleared.


Seller Comment (2025-07-28): Please see attached 1004D inspection.


Reviewer Comment (2025-07-15): A 442/Completion Cert or an addendum from the appraiser confirming the repairs were made is required.  Condition remains


Seller Comment (2025-07-11): Please see attached invoice for the railing repairs.  Photos of repairs were previously provided showing the safety hazard was addressed.


Reviewer Comment (2025-07-07): The appraiser changed the appraisal to as-is, but does not reference the repairs were made and are no longer a safety hazard.  The same pictures from the original appraisal showing the fencing on the rear top of the upper unit is damaged.  A 442/Completion Cert or an addendum from the appraiser confirming the repairs were made is required.  Condition remains


Seller Comment (2025-07-03): Please see attached appraisal revision, updated to "as is".


Reviewer Comment (2025-06-24): The repairs must be confirmed by the appraiser on form 1004D/442.  The photos provided are not acceptable


Seller Comment (2025-06-24): Please see attached photos or repaired lattice/railing.
 07/29/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A A A     C A   N/A No
[Redact] 9193689 [Redact] [Redact] 33619799     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): (Rate Lock) [Redact]
 07/25/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9193695 [Redact] [Redact] 33621441     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/25/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9193695 [Redact] [Redact] 33951864     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Higher Priced as Primary The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). If tested as primary residence, loan exceeds one or more HPML thresholds. Additional compliance testing required to determine if loan would be a compliant or non-compliant HPML. The borrower selected "yes" they will occupy the property as their primary residence in the declarations section of the initial 1003.             07/16/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9193709 [Redact] [Redact] 33623221     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-07): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): (Rate Lock) [Redact]
 08/07/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9193709 [Redact] [Redact] 34132288     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).         Reviewer Comment (2025-08-04): Client elected to waive the condition on the Non-QM 1st lien
     08/04/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B B B B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9193709 [Redact] [Redact] 34137534     Credit Credit Miscellaneous Guideline Credit Exception:   The borrower's paystubs are missing year-to-date pay information as required by guidelines. Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least [Redact].

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Job stability: 14 years at same employer [Redact]

[Redact]

Originator Pre-Close,Aggregator,[Redact]

[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-08-04): Client elected to waive the condition with the following Compensating Factors:
 Credit Depth: 27 year mortgage history 29 years trade history paid as agreed.
 LTV 80 where 85 is maximum
 Job stability: 14 years at same employer
     08/04/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A Exempt from ATR Exempt from ATR No
[Redact] 9193711 [Redact] [Redact] 33623234     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-06-17): Shipping Tracking [Redact], delivered [Redact] at 8:32 am
 06/30/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9193711 [Redact] [Redact] 33641619     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification of appraisal was delivered to borrower was not provided             06/12/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9193711 [Redact] [Redact] 33641727     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Desk Review Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Sufficient cure was provided       Reviewer Comment (2025-06-12): Sufficient Cure Provided At Closing
   06/12/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure B B A A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) Yes
[Redact] 9193711 [Redact] [Redact] 33762532     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Missing  more info here       Buyer Comment (2025-06-30): Waived on Rate Lock: Collateral cleared by Custodian
 06/30/2025     1   A   A   A   A   A   [Redact] Primary Purchase   B B A A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9194905 [Redact] [Redact] 33631651     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:54 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9195048 [Redact] [Redact] 33632469     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-06): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/06/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   B B A A B B A A   N/A No
[Redact] 9195048 [Redact] [Redact] 34131518     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             08/04/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   B B A A B B A A   N/A No
[Redact] 9195050 [Redact] [Redact] 33632499     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9195050 [Redact] [Redact] 33725772     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Title Preliminary not provided   Title preliminary and title final document is missing in the file.       Reviewer Comment (2025-06-25): Received Commitment Title report. Exception Cleared.


Seller Comment (2025-06-24): [Redact]: See attached title commitment
 06/25/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9195050 [Redact] [Redact] 33725790     Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   Title preliminary and title final document is missing in the file       Reviewer Comment (2025-06-25): Received Commitment Title report. Exception Cleared.
 06/25/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Non QM Non QM No
[Redact] 9195050 [Redact] [Redact] 33725820     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]       Reviewer Comment (2025-06-23): Client elected to waive the condition on the Non-QM 1st lien
     06/23/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Non QM Non QM Yes
[Redact] 9195050 [Redact] [Redact] 33726194     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The second appraisal fee of [Redact] wasn' t disclosed to the the borrower on the LE,however there was a lender credit to cover the cost to cure       Reviewer Comment (2025-06-23): Sufficient Cure Provided At Closing
   06/23/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C B C A B B A A Non QM Non QM Yes
[Redact] 9195046 [Redact] [Redact] 33632501     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-06-27): Waived on Rate Lock: Collateral cleared by Custodian
 06/27/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9195046 [Redact] [Redact] 33725263     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing a copy of HOA Verification.       Reviewer Comment (2025-06-26): Received updated 1003 removing expenses. Exception Cleared.


Seller Comment (2025-06-26): [Redact]: Additional charge was input in error, see attached updated 1003 removing this charge.


Reviewer Comment (2025-06-25): Per the mortgage statement, taxes and insurance are escrowed. However, the final application reflects an additional payment in the amount of [Redact]. Unable to verify the source of this payment. Required documentation or proof supporting this charge. Exception Remains.


Seller Comment (2025-06-24): [Redact]: We were unable to find any evidence of HOA dues for this property. Fraud report did not call out any undisclosed HOA dues, assets do not reflect any deductions for HOA dues, and borrower attested that this was a single family residence on the loan application.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9195046 [Redact] [Redact] 33725265     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The file is missing a copy of HOA Verification.       Reviewer Comment (2025-06-26): Received updated 1003 removing expenses. Exception Cleared.


Seller Comment (2025-06-26): [Redact]: Additional charge was input in error, see attached updated 1003 removing this charge.


Reviewer Comment (2025-06-25): Per the mortgage statement, taxes and insurance are escrowed. However, the final application reflects an additional payment in the amount of [Redact]. Unable to verify the source of this payment. Required documentation or proof supporting this charge. Exception Remains.


Seller Comment (2025-06-24): [Redact]: We were unable to find any evidence of HOA dues for this property. Fraud report did not call out any undisclosed HOA dues, assets do not reflect any deductions for HOA dues, and borrower attested that this was a single family residence on the loan application.
 06/26/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9195046 [Redact] [Redact] 33725271     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Insufficient Coverage: Hazard insurance coverage amount is insufficient by [Redact].       Reviewer Comment (2025-06-25): Received replacement cost estimate. Exception Cleared.


Seller Comment (2025-06-24): [Redact]: See attached confirming home is insured at 100% replacement cost
 06/25/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9195053 [Redact] [Redact] 33633091     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9195053 [Redact] [Redact] 33787441     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status. Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status.       Reviewer Comment (2025-07-03): Disclosure provided


Seller Comment (2025-07-03): Right to Receive Appraisal Docs
 07/03/2025     1 B A B A B A B A B A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9195053 [Redact] [Redact] 33787442     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-06-28): Client elected to waive the condition on the Non-QM 1st lien
     06/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9195053 [Redact] [Redact] 33787612     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Loan Underwriting and Transmittal Summary (1008) / MCAW not provided   Loan Underwriting and Transmittal Summary not provided.       Reviewer Comment (2025-07-01): Received Loan Underwriting and Transmittal Summary (1008). Exception Cleared.


Seller Comment (2025-06-30): Right to Receive Appraisal and ROV Disclosure


Seller Comment (2025-06-30): 1008
 07/01/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9195059 [Redact] [Redact] 33633293     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9195059 [Redact] [Redact] 33783801     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - Missing Business Bank Statement ending in #[Redact] with end date of [Redact] used in qualifying income.       Reviewer Comment (2025-06-30): Missing statement was provided


Seller Comment (2025-06-30): [Redact]: Please see attached document
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9195059 [Redact] [Redact] 33783839     Compliance Compliance Federal Compliance ATR/QM Defect General Ability to Repay - Bank Statement Guidelines Require 12 or more Months Ability to Repay (Dodd-Frank 2014): Guidelines require 12 or more consecutive months bank statements.         Reviewer Comment (2025-06-30): Missing statement was provided
 06/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9195059 [Redact] [Redact] 33788121     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. Missing Business Bank Statement ending in #[Redact] with end date of [Redact] used in qualifying income.       Reviewer Comment (2025-06-30): Missing statement was provided


Seller Comment (2025-06-30): [Redact]: Please see attached document
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9195059 [Redact] [Redact] 33788454     Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   Missing Business Bank Statement ending in #[Redact] with end date of [Redact] used in qualifying income.       Reviewer Comment (2025-06-30): Missing statement was provided
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9195059 [Redact] [Redact] 33788471     Compliance Compliance Federal Compliance ATR/QM Defect Income/Asset Guideline Deficiency - ATR Impact Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.) Missing Business Bank Statement ending in #[Redact] with end date of [Redact] used in qualifying income.       Reviewer Comment (2025-06-30): Missing statement was provided


Seller Comment (2025-06-30): [Redact]: Please see attached document
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9195059 [Redact] [Redact] 33788478     Credit Missing Document General Missing Document Missing Document: Account Statements - Business not provided   Missing Business Bank Statement ending in #[Redact] with end date of [Redact] used in qualifying income.       Reviewer Comment (2025-06-30): Missing statement was provided


Seller Comment (2025-06-30): [Redact]: Please see attached document
 06/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A C A A A Exempt from ATR Exempt from ATR No
[Redact] 9122441 [Redact]   33637346     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Required most recent two (2) months bank statements as per guidelines.       Reviewer Comment (2025-05-20): Received [Redact] Bank statement for account # [Redact]. Exception Cleared


Buyer Comment (2025-05-19): [Redact]


Reviewer Comment (2025-05-16): Received [Redact] Statement, however recent statement is [Redact] therefore [Redact] statement must require to meet consecutive requirement. Exception Remains


Buyer Comment (2025-05-16): Bank Statement


Reviewer Comment (2025-05-15): Received All accounts 2nd months bank statement, however for account # [Redact] received [Redact] Bank statement which is not consecutive with available [Redact] Bank statement. Require [Redact] Bank statement to meet consecutive bank statement requirement. Exception Remains


Buyer Comment (2025-05-14): Asset Statements
 05/20/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9128099 [Redact]   33637353     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Track Record Report not provided   Fraud Report provided however Track record is missing in the report. Track record report is required.       Reviewer Comment (2025-05-20): Final 1003 and Credit report confirms the investment property was acquired in 2021 with an open mortgage with [Redact]. Exception Cleared.


Buyer Comment (2025-05-20): LOE regarding work experience
 05/20/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9128099 [Redact]   33637354     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   Please provide a Final 1003 for our Borrower as the one provided is for another Borrower       Reviewer Comment (2025-05-15): Received Final 1003 for [Redact]. Exception Cleared


Buyer Comment (2025-05-15): 1003
 05/15/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9196027 [Redact] [Redact] 33638835     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-18): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 9:16 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9196027 [Redact] [Redact] 34030903     Credit Collateral Missing/Incorrect Collateral Collateral report shows issues with Note.   Monthly P\&I does not agree with Schedule SCH: [Redact]              NOTE:[Redact] more info here       Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): Please match the schedule to the note.
 07/30/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9196030 [Redact] [Redact] 33638869     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9196054 [Redact] [Redact] 33641146     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-07): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A   N/A No
[Redact] 9196054 [Redact] [Redact] 34139220     Credit Credit Miscellaneous Guideline Credit Exception:   Exception approval is provided to allow 12 total loans with lender vs max of 8. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 LTV of 55 where 75 is maximum [Redact]

[Redact]

Aggregator,[Redact]

[Redact]		 Reviewer Comment (2025-08-11): Client elected to waive the condition with the following Compensating Factors:
LTV of 55 where 75 is maximum
DSCR of 1.33 where 1.0 is minimum.
Other REO equity [Redact]


Reviewer Comment (2025-08-05): Client elected to waive the condition with the following Compensating Factors:
LTV of 55 where 75 is maximum
DSCR of 1.33 where 1.0 is minimum.
Other REO equity [Redact]
     08/05/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A   N/A No
[Redact] 9196054 [Redact] [Redact] 34139222     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               08/05/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   C B C B B B A A   N/A No
[Redact] 9196068 [Redact] [Redact] 33641416     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-07): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   B B B B B B A A   N/A No
[Redact] 9196068 [Redact] [Redact] 34143034     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             08/05/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   B B B B B B A A   N/A No
[Redact] 9196068 [Redact] [Redact] 34146140     Credit Credit Miscellaneous Guideline Credit Exception:   Exception approval is provided to allow 12 total loans with lender vs max of 8. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.

Miscellaneous		 LTV of 60 where 75 is maximum

DSCR of 1.38 where 1.0 is minimum.		 [Redact],Aggregator

[Redact]

[Redact]

[Redact]

[Redact],Originator Pre-Close,Aggregator		 Reviewer Comment (2025-08-05): Client elected to waive the condition with the following Compensating Factors:
LTV of 60 where 75 is maximum
DSCR of 1.38 where 1.0 is minimum.
Other REO equity [Redact]
     08/05/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Limited Cash-out GSE   B B B B B B A A   N/A No
[Redact] 9196083 [Redact] [Redact] 33643876     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-09): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9196083 [Redact] [Redact] 33827039     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Lease Agreement not provided.       Reviewer Comment (2025-07-15): Lease not required in purchase. Exception Cleared.


Seller Comment (2025-07-11): UW response: This is a purchase so I won't have a lease.

For the DSCR calculation I used the lower amount for DSCR calculation since the appraiser stated it was actual monthly rent. See attached.
 07/15/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9196083 [Redact] [Redact] 33827044     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/02/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9196083 [Redact] [Redact] 33827506     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard Insurance Coverage Amount is insufficient. Coverage shortfall [Redact]. Provide updated Hazard Insurance Policy with Dwelling Coverage of at least [Redact].       Reviewer Comment (2025-07-06): Received updated policy. Exception Cleared.


Seller Comment (2025-07-03): Please see attached policy.
 07/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9196084 [Redact] [Redact] 33643898     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-02): (Rate Lock) [Redact]
 07/03/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A     A A   N/A No
[Redact] 9196087 [Redact] [Redact] 33644034     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9196087 [Redact] [Redact] 33807974     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             06/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9197041 [Redact] [Redact] 33654481     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-30): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9197242 [Redact] [Redact] 33655948     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-09): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9197242 [Redact] [Redact] 33827288     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/02/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9197243 [Redact] [Redact] 33656012     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-28): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:54 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9197243 [Redact] [Redact] 34019566     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Verification of 12 months primary housing history required per guidelines. Verification was not provided.       Reviewer Comment (2025-08-04): Verification of rent not required. Exception Cleared.


Seller Comment (2025-08-01): UW response: hello per the guide for [Redact], it does not state a VOR is needed, just need verification of housing payments for mortgages.  i also attached the guide.
 08/04/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9197246 [Redact] [Redact] 33656145     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-15): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/23/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B A A A A   N/A No
[Redact] 9197246 [Redact] [Redact] 33908030     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The Preliminary title policy amount is blank. A Final policy was not provided.             07/11/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B A A A A   N/A No
[Redact] 9197276 [Redact] [Redact] 33656575     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:31 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9197276 [Redact] [Redact] 34030491     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/24/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9197303 [Redact] [Redact] 33656739     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-14): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-11): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/14/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9197318 [Redact] [Redact] 33657166     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/25/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9197316 [Redact] [Redact] 33657227     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-14): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-09): (Rate Lock) [Redact]
 07/14/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9197316 [Redact] [Redact] 33848674     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - Missing statement to verify PITI.       Reviewer Comment (2025-07-29): Received statement. Exception Cleared.


Seller Comment (2025-07-29): See attached REO information included LOX on India property.  Please cancel


Reviewer Comment (2025-07-24): As per comment Doc ID 1366 is Evidence of Joint Application form. Required Mortgage Statement to clear this condition. Exception Remains.


Seller Comment (2025-07-22): See page 1366 in [Redact].  Please cancel
 07/29/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9197316 [Redact] [Redact] 33848712     Credit Income / Employment Income Documentation Income / Employment Verification(s) of employment is not within 10 business days of the Note. - Missing VOE dated within 10 days for employment.       Reviewer Comment (2025-07-24): Received VVOE. Exception Cleared.


Seller Comment (2025-07-22): See attached VOE.  Please cancel
 07/24/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9198445 [Redact] [Redact] 33670044     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-25): (Rate Lock) [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term   B A A A B A A A Non QM Non QM No
[Redact] 9198445 [Redact] [Redact] 34007224     Compliance Compliance Federal Compliance RESPA RESPA Disclosure - List of Homeownership Counseling Organizations Missing RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower. The file was missing a copy of the  List of Homeownership Counseling Organizations or proof of the borrower's receipt within 3 days of the application date.       Reviewer Comment (2025-07-30): Disclosure provided


Seller Comment (2025-07-29): [Redact] - Entered comments in DD Portal & [Redact].  Uploaded Homeownership Counseling Disclosure issued [Redact] & Acknowledgement of Receipt of RESPA'S Homeownership Counseling Disclosure issued & executed to borrower [Redact].  Disclosure issued and received by borrower within three (3) business days of application - [Redact].  Please review and clear.
 07/30/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Rate/Term   B A A A B A A A Non QM Non QM No
[Redact] 9198456 [Redact] [Redact] 33671028     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-03): Waived on Rate Lock: Collateral cleared by Custodian
 07/03/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term   B B B B B B A A Non QM Non QM No
[Redact] 9198456 [Redact] [Redact] 33807995     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.             06/30/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Rate/Term   B B B B B B A A Non QM Non QM No
[Redact] 9198456 [Redact] [Redact] 33808043     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             06/30/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Rate/Term   B B B B B B A A Non QM Non QM No
[Redact] 9198456 [Redact] [Redact] 33820805     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-07-02): Sufficient Cure Provided At Closing
   07/02/2025   1   A   A   A   A   A   [Redact] Primary Refinance - Rate/Term Final CD evidences Cure B B B B B B A A Non QM Non QM Yes
[Redact] 9186315 [Redact]   33695194     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact].  Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current  coverage amount.       Reviewer Comment (2025-07-01): Received Replacement Cost Estimator. Exception Cleared.


Seller Comment (2025-06-30): Updated RCE uploaded
 07/01/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186327 [Redact]   33713610     Property Valuation Valuation Issue Valuation The desk review has a effective date that is other than what the appraisal effective date is. The desk review should have the same effective date as the appraisal   The CDA has an appraisal effective date of [Redact]; however the only appraisal in file file has an effective date of [Redact].  Provide a revised CDA correcting the appraisal under reviews effective date.       Reviewer Comment (2025-07-07): Revised CDA provided


Seller Comment (2025-07-07): Revised CDA with effective date of [Redact] uploaded
 07/07/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A A A     C A   N/A No
[Redact] 9186339 [Redact]   33722614     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard Policy coverage shortfall of [Redact]rovide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current  coverage amount.       Reviewer Comment (2025-07-01): Received Replacement Cost Estimator. Exception Cleared.


Seller Comment (2025-06-30): RCE uploaded
 07/01/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186349 [Redact]   33753242     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-07-02): Lender provided clarification and documentation to support the tax amount used to qualify


Seller Comment (2025-07-01): We do not have tax records yet as county is behind- uploaded 3 comps (copies of tax bills) to support taxes used for the prop
 07/02/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186354 [Redact]   33725919     Credit Investment Product General Investment Product Total Property Loan Amounts does not equal the original loan amount.   Total Property Loan Amounts: [Redact];    Original Loan Amount: [Redact]       Reviewer Comment (2025-07-11): Received revised Security Instrument. Exception Cleared.


Seller Comment (2025-07-09): Revised mortgage document
 07/11/2025     1 C A C A C A C A C A     Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186357 [Redact]   33724629     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   The File is Missing the Authorization to obtain consumer and credit reports and release       Reviewer Comment (2025-07-11): Received Credit Authorization. Exception Cleared.


Seller Comment (2025-07-09): Credit authorization form uploaded
 07/11/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9186361 [Redact]   33730748     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The Title Policy Amount of [Redact] is less than the note amount of [Redact] based on the Commitment in file.             06/24/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
[Redact] 9186366 [Redact]   33731803     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   The file is missing a copy of the Purchase Agreement / Sales Contract.       Reviewer Comment (2025-07-02): Received Purchase & Sales Agreement. Exception Cleared.


Seller Comment (2025-07-01): Purchase agreement uploaded
 07/02/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A     A A   N/A No
[Redact] 9186373 [Redact]   33755931     Property Valuation Valuation Issue Valuation The desk review has a effective date that is other than what the appraisal effective date is. The desk review should have the same effective date as the appraisal   The Desk Review or Field Review effective date of [Redact] does not match the Appraisals effective date of [Redact].       Reviewer Comment (2025-07-09): Revised CDA provided


Seller Comment (2025-07-09): Revised CDA uploaded
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     C A   N/A No
[Redact] 9186373 [Redact]   33755946     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-07-01): Received Replacement Cost Estimator. Exception Cleared.


Seller Comment (2025-06-30): RCE uploaded
 07/01/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     C A   N/A No
[Redact] 9186380 [Redact]   33763696     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The file is missing the tax cert or other documentation to verify the taxes used to qualify.  The lender qualified with taxes higher than the tax cert in file verified.       Reviewer Comment (2025-07-11): Received tax certificate. Exception Cleared.


Seller Comment (2025-07-09): Tax is computed based on the average of the comparable properties.
 07/11/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186383 [Redact]   33757067     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-07-11): Updated binder provided.


Seller Comment (2025-07-10): Please see the updated binder reflecting the correct building coverage
 07/11/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186391 [Redact]   33756698     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-07-10): RCE provided.


Seller Comment (2025-07-09): RCE estimator received,  see attached.
 07/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9186398 [Redact]   33764227     Credit System General Appraisal Reconciliation Valuation address does not match Note address. - The street address on the appraisal does not match the street address on the note.       Reviewer Comment (2025-07-09): Revised appraisal provided


Seller Comment (2025-07-08): Updated appraisal uploaded
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186398 [Redact]   33764588     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Title Preliminary not provided   The title commitment is missing in the file, only page one of the title commitment was provided.Please provide a copy of the complete title commitment.       Reviewer Comment (2025-07-09): Title commitment and Final Title policy provided


Seller Comment (2025-07-09): Title commitment uploaded


Seller Comment (2025-07-09): Final policy uploaded
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186398 [Redact]   33764604     Credit Loan Package Documentation Closing / Title Title Title: Evidence of title is missing   The title commitment is missing in the file, only page one of the title commitment was provided.Please provide a copy of the complete title commitment.       Reviewer Comment (2025-07-09): Title commitment and Final Title policy provided


Seller Comment (2025-07-09): Final policy uploaded
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186398 [Redact]   33764607     Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   The title commitment is missing in the file, only page one of the title commitment was provided.Please provide a copy of the complete title commitment.       Reviewer Comment (2025-07-09): Title commitment and Final Title policy provided


Seller Comment (2025-07-09): Final policy uploaded
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186398 [Redact]   33764672     Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   The updated HOI with the correct mortgagee doesn't have an annual premium on the EOI. Please provide updated HOI with the annual premium.       Reviewer Comment (2025-07-09): Updated HOI provided


Seller Comment (2025-07-08): Declaration Page with address to match other files


Seller Comment (2025-07-08): Please see attached
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186399 [Redact]   33764079     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-07-10): RCE provided.


Seller Comment (2025-07-09): RCE estimator attached
 07/10/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9186403 [Redact]   33764027     Credit Loan Package Documentation Closing / Title Title Title: Evidence of title is missing   Only page one of the title commitment was provided. Please provide a copy of the full title commitment.       Reviewer Comment (2025-07-09): Received Commitment title report. Exception Cleared.


Seller Comment (2025-07-08): Final title policy uploaded


Seller Comment (2025-07-08): Title policy uploaded
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186403 [Redact]   33764040     Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   Only page one of the title commitment was provided, please provide a copy of the complete title commitment.       Reviewer Comment (2025-07-09): Received Final title report. Exception Cleared.
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186403 [Redact]   33764041     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Title Preliminary not provided   Only page one of the title commitment was provided, please provide a copy of the complete title commitment.       Reviewer Comment (2025-07-09): Received Commitment title report. Exception Cleared.


Seller Comment (2025-07-08): Title commitment uplaoded


Seller Comment (2025-07-08): Final title policy uploaded
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186403 [Redact]   33764106     Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   The updated HOI Dec page has a different property address the LLC owns Please provided a corrected HOI with the subjects address and correct mortgagee. The old policy shows the HOI in both guarantors name.       Reviewer Comment (2025-07-09): Received hazard policy. Exception Cleared.


Seller Comment (2025-07-08): See attached revised insurance files
 07/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9186408 [Redact]   33781711     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.       Reviewer Comment (2025-07-07): RCE provided


Seller Comment (2025-07-07): RCE uploaded, provided insurance binder covers guideline limit. Provided coverage is [Redact]


Reviewer Comment (2025-07-01): Extended replacement cost [Redact] already included. Still insurance is insufficient by [Redact]. Required supporting RCE with dwelling coverage to cover shortfall. Exception Remains.


Seller Comment (2025-06-30): Coverage has [Redact] in Extended RC total amount carried is [Redact], which satisfies the guidleine requirement
 07/07/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9085338 [Redact]   33677865     Credit Credit Credit Eligibility Guideline Public Record Issue: - Lender approved exception at origination to allow open collection account with balance of [Redact]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-04-23): Investor approved. Comp factor 91.52 months reserves.
     04/23/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085338 [Redact]   33677866     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception at origination to allow borrower's exposure over [Redact]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-04-09): Investor exception provided
     04/09/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085338 [Redact]   33677867     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with DLA over 120 days. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.   [Redact] Reviewer Comment (2025-04-23): Investor approved. Comp factor 91.52 months reserves.
     04/23/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Cash-out - Other   C B C B A A A A   N/A No
[Redact] 9085346 [Redact]   33677873     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed without lease renewals. Borrower inherited the leases when he purchased the property 5 months ago. Tenant ledger and appraisal show the tenant is still in the unit.
Compensating factors: Repeat borrower, strong liquidity.		 Property not inspected post FEMA declared disaster, but property is not located near the declared disaster area.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Property not inspected post FEMA declared disaster, but property is not located near the declared disaster area.

752 score 700		 Aggregator

[Redact]		 Reviewer Comment (2025-05-01): Investor exception provided.
     05/01/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9085346 [Redact]   33677874     Compliance Compliance State Compliance State Defect [Redact] Prepayment Penalty [Redact] Prepayment Penalty: Loan prepay term of 48 months exceeds state maximum of 36 months. Prepay language states prepay will not exceed maximum permitted by applicable law.         Buyer Comment (2025-04-03): Acknowledged non material
     04/03/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9085346 [Redact]   33677876     Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception requested due to borrower exposure above [Redact]. Property not inspected post FEMA declared disaster, but property is not located near the declared disaster area.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Property not inspected post FEMA declared disaster, but property is not located near the declared disaster area.

752 score 700		 Aggregator

[Redact]		 Reviewer Comment (2025-05-02): Investor exception provided.
     05/02/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9085346 [Redact]   33677877     Credit Credit Miscellaneous Guideline Credit Exception:   Document 180 days ownership or if greater than 90 days but less than 180 days document cost basis 140% of purchase price plus documented repairs. Property not inspected post FEMA declared disaster, but property is not located near the declared disaster area.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Property not inspected post FEMA declared disaster, but property is not located near the declared disaster area.

752 score 700		 Aggregator

[Redact]		 Reviewer Comment (2025-05-29): Investor exception provided. Compensating factors: 752 FICO and 60.01 months reserves.


Reviewer Comment (2025-05-13): If Lender is unable to provide purchase price plus documented repairs, an exception can be requested; however, we would be unable to clear without that documentation.


Buyer Comment (2025-05-08): Per lender : This was a portfolio purchase, bulk purchase, we did not have allocated purchase prices. I have attached the allocated loan amount schedule from our original bridge loan. at this point, I do not have any additional info, for the proof of repairs- our budgets are the required documents as they are cross-referenced with the appraisals.


Reviewer Comment (2025-05-05): Documentation provided appear to be an exception form and email and is not sufficient to clear this exception. The executed Note or Security Instrument that contains the allocated purchase prices are required along with the invoices for the repairs will be required.


Buyer Comment (2025-05-01): Per Lender:  Please see the extracted pages from our closing package on the original bridge loan showing the loan amounts for each property. Other than this please let me know what I can provide


Reviewer Comment (2025-04-22): Per the guidelines, the cost basis is the purchase price plus documented repairs. The spreadsheet document provided is not sufficient to document the purchase price. The executed Note or Security Instrument that contains the allocated purchase prices is required. The SOW document is not a sufficient document to verify documented repairs. Invoices for the repairs will be required.


Buyer Comment (2025-04-21): Per Lender: L1 originated the purchase of this property, here are our allocated purchase prices we used


Reviewer Comment (2025-04-15): Per the guidelines: For properties purchased > 90 days from application and < 180 days the cost basis is the current appraised value up to 140% of the borrower's initial cost basis, except if the property is owned free and clear between 90 and 180 days of ownership as outlined above. The cost basis is the purchase price plus documented repairs. The HUD and SOW is sufficient to clear this exception. The HUD does not verify the subject's purchase price as the transaction was a multi-property purchase. Documentation of the cost basis is required.


Buyer Comment (2025-04-10): see HUD and SOW
     05/29/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9199387 [Redact] [Redact] 33678715     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9200253 [Redact] [Redact] 33686128     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-22): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-18): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/22/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9200257 [Redact] [Redact] 33690170     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-10): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9200257 [Redact] [Redact] 33859866     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/08/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9200268 [Redact] [Redact] 33693919     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9200268 [Redact] [Redact] 33910262     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   The file was missing Copy of 1003  Final.       Reviewer Comment (2025-07-25): Final 1003 provided


Seller Comment (2025-07-24): See attached final 1003.  Please cancel
 07/25/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9200268 [Redact] [Redact] 33910405     Credit Income / Employment Income Documentation Income / Employment The verification of employment is required and was not found in file. - The VOE is missing in the file.       Reviewer Comment (2025-07-25): VVOE provided


Seller Comment (2025-07-23): See attached VOE for [Redact].  please cancel
 07/25/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9200268 [Redact] [Redact] 33910407     Credit Income / Employment Income Documentation Income / Employment Verification(s) of employment is not within 10 business days of the Note. -         Reviewer Comment (2025-07-25): VVOE provided


Seller Comment (2025-07-23): VOE's added to [Redact].


Reviewer Comment (2025-07-14): Overridden in error


Reviewer Comment (2025-07-14): Leave and earnings statement within 120 days of note date is acceptable per guidelines.
 07/25/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9200271 [Redact] [Redact] 33694206     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-30): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9200271 [Redact] [Redact] 34060001     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy effective date is after the funds disbursed.   Hazard Insurance Policy Effective Date [Redact]; Disbursement Date: [Redact]; Note Date: [Redact]; Transaction Date: [Redact]       Reviewer Comment (2025-08-08): Copy of the final settlement statement provided verifying an updated disbursement date


Seller Comment (2025-08-06): hoi policy effective date [Redact], loan funded [Redact]


Seller Comment (2025-08-06): This loan did not fund until [Redact], HOI was effective on [Redact]
 08/08/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9200271 [Redact] [Redact] 34060002     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The file was missing a copy of the final title policy.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9200271 [Redact] [Redact] 34060052     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9200292 [Redact] [Redact] 33701573     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-16): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/23/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B A A A A   N/A No
[Redact] 9200292 [Redact] [Redact] 33946224     Credit Credit Miscellaneous Guideline Credit Exception:   Exception approval is provided to permit Non-arms length transactions between family members borrower is related to seller as a cousin by marriage. Approved with compensating factors: post closing reserves 50 months and FICO 742 vs min 720. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Reserves of 52 months were 6 months is required (8X) [Redact],Originator Pre-Close,Aggregator Reviewer Comment (2025-07-16): Client elect to waive with compensating factors:
Reserves of 52 months were 6 months is required (8X)
DSCR of 1.15 where 1.0
Credit depth: 19 years trade history 11 years mortgage history all paid as agreed.
     07/16/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B A A A A   N/A No
[Redact] 9128856 [Redact]   33701964     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - ___ (1) 1084 or income worksheet is missing in file.
(2) Business Narrative is required from the borrower to describe the type of business and number of employees.
(3) CPA Letter -  Borrower's business ownership percentage must be at least 25%. The ownership percentage must be verified via a CPA/Tax Preparer, Operating Agreement or equivalent.
(4) Third Party Verification - Verification that the business is active and operating either no more than 10 business days prior to the Note Date.		       Reviewer Comment (2025-05-30): Web page provided.


Buyer Comment (2025-05-29): Web page


Reviewer Comment (2025-05-28): Received Income worksheet, CPA letter confirm ownership, Business narrative, however verification per guideline require one of the following. Business Search not acceptable per guideline.  
• Evidence of current work (executed contracts or signed invoices)
• Evidence of current business receipts
• Business website demonstrating activity supporting current business operations. Exception Remains


Buyer Comment (2025-05-23): business narrative


Buyer Comment (2025-05-23): CPA Letter on ownership


Buyer Comment (2025-05-23): current business entity search


Buyer Comment (2025-05-23): Income worksheet
 05/30/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701965     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   Borrower using Business funds for Reserves therefore a letter from the accountant of the business or an underwriter cash flow analysis of the business balance sheet to confirm that the withdrawal will not negatively impact the business is required.       Reviewer Comment (2025-06-02): Balance sheet and notes provided. Cleared.


Buyer Comment (2025-05-30): Balance Sheet and notes


Reviewer Comment (2025-05-28): The CPA comment says the borrower has historically taken money out but it does not mention this transaction and no negative impact. We need it say withdraw for this transaction will not negatively impact the business.


Buyer Comment (2025-05-23): reserves are mentioned in second paragraph
 06/02/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701971     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   Tax certificate is missing in file that supports the annual Tax amount as [Redact].       Reviewer Comment (2025-05-28): Lender used 1.5% of purchase price which is sufficient.


Buyer Comment (2025-05-27): Please clarify the last transfer price of [Redact] on the 1004. The prior sale/transfer shows [Redact]his loan is new construction. Lender used 1.5% of the purchase price.


Reviewer Comment (2025-05-27): Provide Evidence of Purchase price as 1004 Noted last Transfer price of [Redact] does not support the Lender used amount of [Redact]exception Remains


Buyer Comment (2025-05-23): per lender :we used 1.5% of purchase price since new construction
 05/28/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701972     Property Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided.   File has 2 appraisals with subject to completion. Form 442 received for Appraisal Effective date [Redact] However Form 442 is missing for the appraisal effective date [Redact].       Reviewer Comment (2025-05-27): Received Final inspection report for Appraisal effective date of [Redact]. Exception Cleared


Buyer Comment (2025-05-23): 442 Final Inspection for appraisal effective [Redact]


Buyer Comment (2025-05-23): 442 Final Inspection
 05/27/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701973     Credit Credit Credit Documentation Credit Credit Report Error: Missing source document for credit/housing history.   Final 1003 section 2C reflects liability as Installment #[Redact] and Monthly payment of [Redact]his was not captured in clarity as there were no supporting documents available. Lender to confirm if this liability to be considered then supporting document to be provided. If this liability needs to be excluded then correct Final 1003 required with the liability removed.       Reviewer Comment (2025-05-28): Updated 1003 provided


Buyer Comment (2025-05-27): removed installment loan that was added in error
 05/28/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701974     Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   Title Preliminary / Title Commitment report is missing in file.       Reviewer Comment (2025-05-27): Received Title commitment report for subject transaction. Exception Cleared


Buyer Comment (2025-05-23): Title report
 05/27/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701975     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. File contains evidence appraisal report provided is an updated report. Delivery confirmations dated earlier than report date of report located in file. Lender to provide all previous appraisal reports/updates.       Reviewer Comment (2025-05-28): Received Original Appraisal report dated [Redact] and uploaded accordingly. Exception Cleared.


Buyer Comment (2025-05-28): Original report
 05/28/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701976     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.       Buyer Comment (2025-05-29): Acknowledged non material EV2. Final inspection not provided to borrower.


Buyer Comment (2025-05-29): Appraisal uploaded, per Lender: " The appraisal in question dated [Redact] is the final inspection confirming landscaping is complete - does not need to be sent to borrower 3 days prior to consummation."


Buyer Comment (2025-05-28): Please see uploaded original appraisal report


Reviewer Comment (2025-05-27): Exception is for 2nd Full appraisal dated [Redact] completed by appraiser [Redact] From [Redact]. Appraisal Acknowledgement dated [Redact] confirm receipt of appraisal, however it is prior to report date. Require original appraisal Report Exception Remains


Buyer Comment (2025-05-23): Per Lender: "The appraisal in question dated [Redact] is the final inspection confirming landscaping is complete - does not need to be sent to borrower 3 days prior to consummation."
     05/29/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9128856 [Redact]   33701979     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Re-Inspection Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Appraisal Re-Inspection Fee was disclosed as [Redact] on Initial LE and [Redact] on Final CD. File does not contain a valid COC for this fee, Insufficient or no cure was provided to the borrower       Reviewer Comment (2025-05-26): [Redact] Received COC dated [Redact].


Buyer Comment (2025-05-23): COC
 05/26/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C A C B C A Non QM Non QM Yes
[Redact] 9128856 [Redact]   33701980     Property Property - Appraisal Appraisal Documentation Property - Appraisal Guidelines require two valuations.   Two appraisal required but both appraisals competed by different appraisers but from the same appraisal company "[Redact]".       Reviewer Comment (2025-05-22): Client accepts


Buyer Comment (2025-05-22): This is acceptable.
 05/22/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Limited Cash-out GSE   C B C A C B C A Non QM Non QM No
[Redact] 9134490 [Redact]   33701988     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Non-QM designation.  This is an EV2 informational and may b acknowledged/waived.       Buyer Comment (2025-06-06): Acknowledged non material
     06/06/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Non QM Non QM Yes
[Redact] 9101265 [Redact]   33701996     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   The CDA provided is dated [Redact] with an effective date of [Redact]. The Appraisal effective and report date is [Redact]. Provide an updated CDA or a CU score greater than 2.5.       Reviewer Comment (2025-06-02): CDA provided.


Buyer Comment (2025-06-02): Updated CDA
 06/02/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A A A A A D A   N/A No
[Redact] 9108203 [Redact]   33702001     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   Require signed Final Closing Disclosure for sale of other property [Redact] to verify actual HELOC proceed and proceeds were received. Unsigned copy was provided.       Reviewer Comment (2025-06-04): Received Signed Final CD for HELOC proceed. Exception Cleared


Buyer Comment (2025-06-02): CD
 06/04/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9108203 [Redact]   33702002     Credit Missing Document General Missing Document Missing Document: Trust Agreement (Asset) not provided   [Redact] A/c # [Redact] noted ITF for non-Borrower which stand for "In Trust For".  It's a trust account where the trustee manages the account for the benefit of someone else. Require Trust agreement to meet trust funds requirement.       Reviewer Comment (2025-06-04): LOX provided. Cleared.


Buyer Comment (2025-06-02): LOX
 06/04/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9137452 [Redact]   33702003     Credit Credit Credit Documentation Credit No evidence of fraud report in file - Fraud Report is missing in file.       Reviewer Comment (2025-05-30): Received Fraud report. exception cleared.


Buyer Comment (2025-05-29): Fraud, OFAC is on the fraud report (see highlight)
 05/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9137452 [Redact]   33702006     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   OFAC report is missing in file.       Reviewer Comment (2025-06-02): OFAC provided.


Buyer Comment (2025-06-02): OFAC included in fraud report
 06/02/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9137452 [Redact]   33702007     Credit Guideline Guideline Issue Guideline Note has a Prepayment Penalty provision, which is not allowable per guidelines.   Client direction to confirm this acceptable.       Reviewer Comment (2025-05-29): PPP is acceptable.


Buyer Comment (2025-05-29): Please clear based on clarified updated guidelines.
 05/29/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9138012 [Redact]   33702009     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2 Note Date:  ___; Lien Position: ___ The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2025-05-30): CU score is 1, not required.


Buyer Comment (2025-05-30): CU Score is 1, program does not require a CDA
 05/30/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A A A D A   N/A No
[Redact] 9138012 [Redact]   33702010     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The loan file should include a Loan Approval indicating the loan is DSCR and a DSCR Calculation Worksheet detailing the DSCR calculation.       Reviewer Comment (2025-05-30): DSCR calculation provided.


Buyer Comment (2025-05-30): DSCR Calculation
 05/30/2025     1 C A C A C A C A D A   [Redact] Investment Purchase   D A D A A A D A   N/A No
[Redact] 9138012 [Redact]   33702011     Credit Missing Document General Missing Document Missing Document: Explanation Letter not provided   Letter of explanation is required to detail relevant real estate experience.       Reviewer Comment (2025-06-06): Received Letter of Explanation with detail relevant real estate experience. Exception Cleared


Buyer Comment (2025-06-04): RE Experience
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A D A   N/A No
[Redact] 9202620 [Redact] [Redact] 33719301     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-04): (Rate Lock) [Redact]
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9202620 [Redact] [Redact] 34065165     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9202623 [Redact] [Redact] 33719550     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B A A A B A A A   N/A No
[Redact] 9202623 [Redact] [Redact] 33936112     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Missing ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to consumer.         Reviewer Comment (2025-08-05): Disclosure provided


Seller Comment (2025-08-05): Lender also added this is an investment non-QM loan


Seller Comment (2025-08-05): Please see attached disclosure from lender
 08/05/2025     1 B A B A B A B A B A   [Redact] Investment Purchase   B A A A B A A A   N/A No
[Redact] 9203994 [Redact] [Redact] 33728070     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9203995 [Redact] [Redact] 33728091     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-06): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/06/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9203995 [Redact] [Redact] 34132271     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             08/04/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9203997 [Redact] [Redact] 33728127     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-15): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-14): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/15/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9204933 [Redact] [Redact] 33734059     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-31): (Rate Lock) [Redact]
 08/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9204933 [Redact] [Redact] 34031113     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9205897 [Redact] [Redact] 33747529     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-01): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-31): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/01/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9205897 [Redact] [Redact] 34098727     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/30/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9205897 [Redact] [Redact] 34098758     Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. The commitment title report in file disclosed [Redact] of title insurance Coverage; however, this is less than the loan amount of [Redact]             07/30/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9205897 [Redact] [Redact] 34098831     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___. Calculated Debt Service Coverage Ratio (Subject DSCR) of 0.97 does not meet Guideline Debt Service Coverage Ratio of 1.15.  The difference is due to the lender calculated the DSCR with a lower PITIA than verified in file ([Redact] vs.[Redact]). Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 - Post close reserves [Redact] (8x required) [Redact],Aggregator

[Redact]		 Reviewer Comment (2025-08-08): Client elected to waive the condition with the following compensating factors:
- Post close reserves [Redact] (8x required)
- LTV 65.42% where maximum is 75%
- Credit depth dating back 18 years, including 10+ years mortgage history paid as agreed


Reviewer Comment (2025-08-07): EXCEPTION HISTORY - Exception Explanation was updated on [Redact] PRIOR Exception Explanation: Calculated Debt Service Coverage Ratio (Subject DSCR) of 0.97 does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) 1.15.
     08/08/2025 2 C B C B C B C B C B   [Redact] Investment Refinance - Cash-out - Other   C B C B B B A A   N/A No
[Redact] 9206081 [Redact] [Redact] 33754251     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): (Rate Lock) [Redact]
 07/25/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A A A A A   N/A No
[Redact] 9206124 [Redact] [Redact] 33754413     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9206124 [Redact] [Redact] 33851223     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/07/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9206124 [Redact] [Redact] 33856918     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The file is missing documentation from the seller confirming the condo is warrantable.  Note: the HOA questionnaire in file from the HOA is not acceptable.       Reviewer Comment (2025-07-24): Seller identified the project as Non-Warrantable


Seller Comment (2025-07-22): Condo is non warrantable per [Redact] guidelines allowed on [Redact] Non-Warrantable Condominiums (condominiums that do not meet Fannie Mae warrantable guidelines) are allowed on [Redact] products only. A Full Review Condo Questionnaire is required.
 07/24/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Rate/Term   B B A A B B A A   N/A No
[Redact] 9206123 [Redact] [Redact] 33754423     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-31): (Rate Lock) [Redact]
 08/04/2025     1 A A A A A A A A A A   [Redact] Second Home Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9206123 [Redact] [Redact] 34048169     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Second Home Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9206123 [Redact] [Redact] 34048170     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Second Home Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9206123 [Redact] [Redact] 34048174     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-07-25): Sufficient Cure Provided At Closing
   07/25/2025   1 A A A A A A A A A A   [Redact] Second Home Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9206123 [Redact] [Redact] 34048175     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-07-25): Sufficient Cure Provided At Closing
   07/25/2025   1 A A A A A A A A A A   [Redact] Second Home Refinance - Cash-out - Other Final CD evidences Cure B B A A B B A A Non QM Non QM Yes
[Redact] 9206123 [Redact] [Redact] 34067011     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Not High Cost and Not Higher Priced The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Second Home). There is evidence on the initial 1003 that the borrower intends to occupy the property as their primary residence.             07/28/2025 2 B B B B B B B B B B   [Redact] Second Home Refinance - Cash-out - Other   B B A A B B A A Non QM Non QM No
[Redact] 9206120 [Redact] [Redact] 33754432     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-14): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-09): (Rate Lock) [Redact]
 07/14/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A   N/A No
[Redact] 9206120 [Redact] [Redact] 33853561     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/08/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A   N/A No
[Redact] 9206120 [Redact] [Redact] 33868905     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The file is missing documentation from the seller confirming the condo is warrantable.  Note: the HOA questionnaire in file from the HOA is not acceptable.       Reviewer Comment (2025-07-24): Seller identified the project as Non-Warrantable


Seller Comment (2025-07-22): Condo is non warrantable per [Redact] guidelines allowed on [Redact] Non-Warrantable Condominiums (condominiums that do not meet Fannie Mae warrantable guidelines) are allowed on [Redact] products only. A Full Review Condo Questionnaire is required.
 07/24/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A   N/A No
[Redact] 9206125 [Redact] [Redact] 33754437     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   C B C A B B A A   N/A No
[Redact] 9206125 [Redact] [Redact] 33853488     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/08/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   C B C A B B A A   N/A No
[Redact] 9206125 [Redact] [Redact] 33868914     Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. - The file is missing documentation from the seller confirming the condo is warrantable.  Note: the HOA questionnaire in file from the HOA is not acceptable.       Reviewer Comment (2025-07-24): Seller identified the project as Non-Warrantable


Seller Comment (2025-07-22): Condo is non warrantable per [Redact] guidelines allowed on [Redact] Non-Warrantable Condominiums (condominiums that do not meet Fannie Mae warrantable guidelines) are allowed on [Redact] products only. A Full Review Condo Questionnaire is required. Please Cancel
 07/24/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C A B B A A   N/A No
[Redact] 9206129 [Redact] [Redact] 33754454     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-31): (Rate Lock) [Redact]
 08/04/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9206129 [Redact] [Redact] 34098715     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-07-30): Sufficient Cure Provided At Closing
   07/30/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9206129 [Redact] [Redact] 34099157     Credit Missing Document General Missing Document Missing Document: HUD/CD (Asset) not provided   The final CD for from the sale of the borrower's prior primary is missing in the file, there was a CD provided however only the first 3 pages. Please provide a copy of the final CD signed by the borrower.       Reviewer Comment (2025-08-07): Received HUD. Exception Cleared.


Seller Comment (2025-08-06): See attached Final CD and Alta for the borrower departing residence. Please cancel
 08/07/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9158383 [Redact]   33754585     Credit Business Purpose Guideline Issue Business Purpose Unable to determine # of Projects or Value of Projects. Please provide the necessary documentation.   Per guidelines number of Projects and Value of Project (last 24 months) including acquisition dates and sales prices are required for this program.       Reviewer Comment (2025-06-03): Investor is Foreign National


Buyer Comment (2025-05-29): Good afternoon,

This is FN NONI and the subject is being refinanced.
 06/03/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9158489 [Redact]   33754587     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Missing proof of ownership for business statement provided and or evidence of access to funds for account, #[Redact]       Reviewer Comment (2025-06-06): ownership provided


Buyer Comment (2025-06-04): HI

I have attached the operating agreement for[Redact].  Shows borrower is 100% owner


Buyer Comment (2025-06-04): HI

I have attached the operating agreement for [Redact].  Shows borrower is 100% owner
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9158489 [Redact]   33754588     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided   Missing from the file       Reviewer Comment (2025-06-06): CPL provided


Buyer Comment (2025-06-02): hi [Redact]_[Redact]-Closing Protection Letter is uploaded thanks :)
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9208096 [Redact] [Redact] 33762830     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9208098 [Redact] [Redact] 33762968     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:37 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9208104 [Redact] [Redact] 33764627     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-06): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/06/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9208104 [Redact] [Redact] 34128606     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status.         Reviewer Comment (2025-08-08): Earlier disclosure provided


Seller Comment (2025-08-06): Please see attached disclosure and audit trail. Disclosure provided with initial disclosures and viewed on [Redact] per the audit trail.


Seller Comment (2025-08-06): Please see attached audit trail.
 08/08/2025     1 B A B A B A B A B A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9208104 [Redact] [Redact] 34131850     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             08/04/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9208105 [Redact] [Redact] 33764699     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:54 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9208105 [Redact] [Redact] 34059950     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9208105 [Redact] [Redact] 34059951     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9208125 [Redact] [Redact] 33765247     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-14): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 9:10 am.
 07/23/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   D B D A D B A A   N/A No
[Redact] 9208125 [Redact] [Redact] 33921763     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   The file was missing a copy of the Business Purpose Certificate.       Reviewer Comment (2025-07-16): Doc provided. Exception cleared.


Seller Comment (2025-07-15): business purpose
 07/16/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D A D B A A   N/A No
[Redact] 9208125 [Redact] [Redact] 33921764     Credit Missing Document General Missing Document Missing Document: Cash-Out Utilization not provided   The file was missing a copy of the Cash-Out Utilization.       Reviewer Comment (2025-07-20): Received business purpose certificate. Exception Cleared.


Seller Comment (2025-07-17): business purpose
 07/20/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D B D A D B A A   N/A No
[Redact] 9208125 [Redact] [Redact] 33921766     Compliance Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   The file was missing a copy of the Note - Subject Lien.       Reviewer Comment (2025-07-16): Received Note document. Exception Cleared.


Seller Comment (2025-07-14): Please see attached Note.
 07/16/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D B D A D B A A   N/A No
[Redact] 9208125 [Redact] [Redact] 33921770     Credit Loan Package Documentation Closing / Title Missing Document  Missing Document: Security Instrument - Subject Lien not provided   The file was missing a copy of the Security Instrument - Subject Lien.       Reviewer Comment (2025-07-16): Doc provided. Exception cleared.


Seller Comment (2025-07-14): Please see attached mortgage and rider.
 07/16/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D B D A D B A A   N/A No
[Redact] 9208125 [Redact] [Redact] 33921823     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/14/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   D B D A D B A A   N/A No
[Redact] 9208125 [Redact] [Redact] 33921986     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/14/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   D B D A D B A A   N/A No
[Redact] 9209268 [Redact] [Redact] 33785151     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:31 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9146973 [Redact]   33785758     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.       Reviewer Comment (2025-05-28): Received Original Appraisal Report and Appraisal Acknowledgment for both appraisal. Exception Cleared


Buyer Comment (2025-05-23): Acknowledgment of receipt - see delivery for both reports attached/ in file


Buyer Comment (2025-05-23): Original RTI report
 05/28/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9146973 [Redact]   33785759     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.       Buyer Comment (2025-05-30): Lender acknowledged non material EV2. Effective date uploaded during revision.


Reviewer Comment (2025-05-30): Noted Revision done, however revised report shows Effective date of [Redact] whereas Original report noted Effective date of [Redact]. no explanation from Appraiser for changing Effective date in revision of appraisal. Exception Remains.


Buyer Comment (2025-05-28): Appraisal - Per Lender: "enclosed please find the initial appraisal from [Redact] dated [Redact] ... the previous one we sent was from a later date as a small revision was done"


Reviewer Comment (2025-05-28): Received Original appraisal report of Secondary Appraisal (Company name [Redact]) shows Effective date of report [Redact] whereas Updated appraisal report shows effective date of [Redact]. No explanation provided of variance in Effective date between Original and Updated report. Exception Remains


Buyer Comment (2025-05-23): Initial [Redact] report
     05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9146973 [Redact]   33785763     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - A  business narrative is required from the borrower to describe the type of business and number of employees for '[Redact]' as per guide.       Reviewer Comment (2025-05-27): Received Borrower LOX confirm Nature of business and solely Operated by borrower. Exception Cleared


Buyer Comment (2025-05-23): LOX
 05/27/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9146973 [Redact]   33785764     Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.       Reviewer Comment (2025-05-28): All Open ATR Exception has been Cured/Cleared. Exception Cleared
 05/28/2025     1 B A C A B A C A B A   [Redact] Primary Purchase Lender to provide updated ATR/QM Loan Designation C B C A C B A A Non QM Non QM Yes
[Redact] 9146973 [Redact]   33785765     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.       Reviewer Comment (2025-05-28): All Open ATR Exception has been Cured/Cleared. Exception Cleared
 05/28/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9131493 [Redact]   33785815     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Spousal Consent Form not provided   Personal guarantees from community property states must be accompanied with a Spousal Consent to Pledge. Missing Spousal Consent to Pledge.       Reviewer Comment (2025-06-12): Received Spousal Consent Form. Exception Cleared


Buyer Comment (2025-06-10): spousal consent form
 06/12/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A C A D A A A   N/A No
[Redact] 9131493 [Redact]   33785819     Credit Guideline General Guideline DSCR does not meet guideline requirements.   Require DSCR Calculation Worksheet detailing the DSCR calculation correctly as DSCR reviewed  [Redact]/[Redact] = 1.04 vs Lender DSCR [Redact]/[Redact] = 1.05 calculated. lender considered [Redact] lower in PITIA.       Reviewer Comment (2025-05-15): Received 1008 with correction in PITIA with correct DSCR calculation. Exception Cleared


Buyer Comment (2025-05-13): 1008
 05/15/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A C A D A A A   N/A No
[Redact] 9131493 [Redact]   33785820     Compliance Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   Note is signed individually and should have either Entity name above signature or signed as owner or member       Reviewer Comment (2025-06-12): Received Subject note with signed as Borrower Entity. Exception Cleared


Buyer Comment (2025-06-10): Signed note


Reviewer Comment (2025-05-15): Noted email conversion, however Note Must be signed as either Entity name above signature or signed as owner or member with Entity name. Exception Remains


Buyer Comment (2025-05-14): Response from Lender/Title co attached
 06/12/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A C A D A A A   N/A No
[Redact] 9118356 [Redact]   33785831     Credit Credit Credit Documentation Credit Absence of Business Purpose Certificate and/or Non-Owner Occupancy Declaration and/or UW Business Purpose Analysis and thus casts doubt on the business purpose of the loan.   Business purpose certificate confirming the purpose of the loan and occupancy is missing in file.       Reviewer Comment (2025-06-04): Received Signed Business Purpose Certificate. Exception Cleared


Buyer Comment (2025-06-02): business purpose cert
 06/04/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B A A C A   N/A No
[Redact] 9118356 [Redact]   33785832     Property Guideline General Guideline Third party managed property without appropriate documentation and/or experience.   Provide documentation that borrower has a minimum of twelve (12) months ownership and management of income-producing residential or commercial real estate. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 103 vs 3

Borrower's Own Funds Amount: [Redact]

50 vs 70

794 vs 660		 Aggregator,[Redact]

[Redact]

Aggregator,[Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-06-23): See other  exception , downgraded to Ev2


Reviewer Comment (2025-06-23): Re-opened.


Reviewer Comment (2025-05-15): Investor exception provided. Comp factors: 103 months reserves, 1.30 DSCR when 1.0 is required, LTV 50% where 80% is the max.


Buyer Comment (2025-05-14): Exception from [Redact].
 06/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B A A C A   N/A No
[Redact] 9118356 [Redact]   33785833     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided   Missing DSCR calculation worksheet       Reviewer Comment (2025-05-12): Received DSCR worksheet calculation worksheet. exception cleared.


Buyer Comment (2025-05-09): DSCR Calculation
 05/12/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C B A A C A   N/A No
[Redact] 9118356 [Redact]   33785834     Credit Guideline Guideline Issue Guideline Experience level does not meet the guideline requirements for an experienced investor.   Provide documentation that borrower has a minimum of twelve (12) months ownership and management of income-producing residential or commercial real estate.       Reviewer Comment (2025-06-23): Redundant see other exception.
 06/23/2025     1   A   A   A   A   A   [Redact] Investment Purchase   C B C B A A C A   N/A No
[Redact] 9118356 [Redact]   33785835     Credit Credit Miscellaneous Guideline Credit Exception:   Provide documentation that borrower has a minimum of twelve (12) months ownership and management of income-producing residential or commercial real estate. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 103 vs 3

Borrower's Own Funds Amount: [Redact]

50 vs 70

794 vs 660		 Aggregator,[Redact]

[Redact]

Aggregator,[Redact]

Aggregator,[Redact]		 Reviewer Comment (2025-06-23): Investor accepts and agrees to waive with compensating actors.
     06/23/2025 2   B   B   B   B   B   [Redact] Investment Purchase   C B C B A A C A   N/A No
[Redact] 9134043 [Redact]   33785841     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation.   Required two most recent bank statements showing consecutive rental payments of [Redact].       Reviewer Comment (2025-06-12): Bank statements confirm [Redact] deposits coupled with management agreement that supports lease rent amount less fees for net deposit


Buyer Comment (2025-06-12): Statement
 06/12/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9134043 [Redact]   33785842     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided   DSCR calculation worksheet is missing in file       Reviewer Comment (2025-06-10): Received DSCR Calculation worksheet. Exception Cleared


Buyer Comment (2025-06-09): DSCR
 06/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9167863 [Redact]   33785843     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Require Certificate of Good Standing for [Redact]       Reviewer Comment (2025-06-06): Received Certificate of Good standing for [Redact]. Exception Cleared


Buyer Comment (2025-06-05): COGS
 06/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9167863 [Redact]   33785844     Credit Credit Credit Documentation Credit No evidence of fraud report in file - Fraud report is required for the entity "[Redact]" as per guide       Reviewer Comment (2025-06-10): Received Fraud report for "[Redact]. Exception Cleared


Buyer Comment (2025-06-09): Fraud Report


Reviewer Comment (2025-06-06): Received Fraud Report for Guarantor however per Guideline it require for Business entity as well. Exception Remains


Buyer Comment (2025-06-05): Fraud
 06/10/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9158766 [Redact]   33785853     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided   Missing DSCR calculation worksheet       Reviewer Comment (2025-06-12): Received 1008 with DSCR info. Uploaded for Approval accordingly. Exception Cleared.


Buyer Comment (2025-06-11): 1008 w/DSCR calc
 06/12/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9173532 [Redact]   33785860     Credit Insurance Insurance Documentation Insurance Rent loss insurance is required on all properties and there is no evidence of this insurance in the file.   Rent loss insurance covering a minimum of 6 months is required for the subject property.       Reviewer Comment (2025-06-11): Provided.


Buyer Comment (2025-06-11): Rent loss letter from agent
 06/11/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9209270 [Redact] [Redact] 33787156     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-16): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/23/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9209270 [Redact] [Redact] 33944009     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification was not provided in the file.       Reviewer Comment (2025-07-17): Received Driving License . Exception Cleared.


Seller Comment (2025-07-16): Verification of Identification
 07/17/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9209270 [Redact] [Redact] 33944021     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/16/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9211097 [Redact] [Redact] 33788025     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-18): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/23/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9211100 [Redact] [Redact] 33788131     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-22): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-18): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 9:16 am.
 07/22/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9211100 [Redact] [Redact] 33973844     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/18/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9211446 [Redact] [Redact] 33789192     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9213008 [Redact] [Redact] 33795481     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-21): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-17): (Rate Lock) [Redact]
 07/21/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9213078 [Redact] [Redact] 33796895     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-04): (Rate Lock) [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Limited Cash-out GSE   A A A A A A A A Non QM Non QM No
[Redact] 9214119 [Redact] [Redact] 33804046     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-24): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-18): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/24/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B B B A A   N/A No
[Redact] 9214119 [Redact] [Redact] 33957265     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             07/17/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A   N/A No
[Redact] 9214119 [Redact] [Redact] 33957360     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/17/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A   N/A No
[Redact] 9214138 [Redact] [Redact] 33807958     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): (Rate Lock) [Redact]
 07/25/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9214138 [Redact] [Redact] 33983132     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               07/22/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9214138 [Redact] [Redact] 34013164     Compliance Compliance Federal Compliance Missing Required Data (other than HUD-1 or Note) Disparity in Occupancy - Not High Cost and Not Higher Priced The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Investment). Initial 1003 identified the borrowers would occupy the subject as a primary             07/22/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9214140 [Redact] [Redact] 33808033     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-06): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9214140 [Redact] [Redact] 34138785     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.               08/05/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9214140 [Redact] [Redact] 34146866     Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   The appraisal in file is incomplete.  The appraiser did not complete the Subject Phase/Project information which is required.  Provide a revised appraisal with the information completed.       Reviewer Comment (2025-08-11): Received revised appraisal with complete Subject Phase/Project information. Exception Cleared.


Seller Comment (2025-08-08): Please see attached appraisal revision.
 08/11/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D B D A B B A A   N/A No
[Redact] 9214141 [Redact] [Redact] 33808110     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9214141 [Redact] [Redact] 34108050     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/31/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9214141 [Redact] [Redact] 34108063     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Certificate not provided   Business purpose certificate not provided in the file.       Reviewer Comment (2025-08-05): Received Business Purpose Certificate. Exception Cleared.


Seller Comment (2025-08-05): business purpose
 08/05/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9214142 [Redact] [Redact] 33808194     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-23): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-16): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 10:24 am.
 07/23/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9215666 [Redact] [Redact] 33817335     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:37 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Home Improvement   A A A A A A A A   N/A No
[Redact] 9215894 [Redact] [Redact] 34143324     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-07): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9215974 [Redact] [Redact] 34011112     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A A A A A   N/A No
[Redact] 9215975 [Redact] [Redact] 33993517     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): (Rate Lock) [Redact]
 07/25/2025     1   A   A   A   A   A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9215981 [Redact] [Redact] 34023908     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:31 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9216104 [Redact] [Redact] 34135383     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-07): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): (Rate Lock) [Redact]
 08/07/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   A A A A A A A A   N/A No
[Redact] 9216852 [Redact] [Redact] 33827956     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): (Rate Lock) [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9216852 [Redact] [Redact] 33995466     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/23/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9216856 [Redact] [Redact] 34095706     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-01): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-31): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/01/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9216856 [Redact] [Redact] 34096017     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. ECOA Receipt of Appraisal Without Waiver             07/30/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9166209 [Redact] [Redact] 33829111     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B B B B B A A   N/A No
[Redact] 9166209 [Redact] [Redact] 33989491     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.             07/22/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A   N/A No
[Redact] 9166209 [Redact] [Redact] 33989728     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/22/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B B B B B A A   N/A No
[Redact] 9216878 [Redact] [Redact] 34068801     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9217162 [Redact] [Redact] 33836098     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-28): (Rate Lock) [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9217162 [Redact] [Redact] 33995609     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]       Reviewer Comment (2025-07-23): Client elected to waive the condition on the Non-QM 1st lien
     07/23/2025 2 B B B B B B B B B B   [Redact] Primary Purchase LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B A A C B A A Non QM Non QM Yes
[Redact] 9217162 [Redact] [Redact] 34021385     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was received by the borrower was not provided.  Proof of delivery in file, but proof of receipt is required.  The 3-day mail rule was applied and the appraisal was not received at least 3 business days prior to closing.             07/23/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9217162 [Redact] [Redact] 34024890     Compliance Compliance Federal Compliance Federal HPML Federal HPML 2014 Non Compliant Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.         Reviewer Comment (2025-08-07): Received initial appraisal & appraisal notice. Exception Cleared.


Seller Comment (2025-08-06): [Redact] - Entered comments in DD Portal & [Redact].  Uploaded LOX with e-mail confirmation from borrower stating appraisal received [Redact] to Loan Exception [Redact].  Please review and clear.


Reviewer Comment (2025-07-30): The condition is valid.  Proof the appraisal was sent to the borrower on [Redact] was captured for testing.  The file does not contain confirmation from the borrower identifying the receipt date of the appraisal.  Without confirmation, the three-day mail rule applies and the borrower did not receive/acknowledged receipt of the appraisal at least three business days prior to closing.  Condition is valid and remains open


Seller Comment (2025-07-28): [Redact] - Entered comments in DD Portal & [Redact].  Exception is invalid - please cancel.  Appraisal Proof of Delivery in file - should clear with exception [Redact].
 08/07/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9217162 [Redact] [Redact] 34024891     Compliance Compliance Federal Compliance Federal HPML (Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer) TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was received by the borrower was not provided.  Proof of delivery in file, but proof of receipt is required.  The 3-day mail rule was applied and the appraisal was not received at least 3 business days prior to closing.       Reviewer Comment (2025-08-07): Received initial appraisal & appraisal notice. Exception Cleared.


Seller Comment (2025-08-06): [Redact] - Original Appraisal Report dated [Redact] - was missing from file - provided by broker -[Redact] & Appraisal Acknowledgement e-mail sent to borrower [Redact] for original Appraisal Report - was missing from file - provided by broker [Redact].  Timing was met for [Redact] appraisal report - prior to closing [Redact].


Seller Comment (2025-08-06): [Redact] - Original Appraisal Report dated [Redact] - was missing from file - provided by broker - [Redact] & Appraisal Acknowledgement e-mail sent to borrower [Redact] for original Appraisal Report - was missing from file - provided by broker [Redact].  Timing was met for [Redact] appraisal report - prior to closing [Redact].


Seller Comment (2025-08-06): [Redact] - Entered comments in DD Portal & [Redact].  Uploaded LOX with e-mail confirmation from borrower stating appraisal received [Redact].  Confirmation meets (3) business day prior to closing requirement.  Please review and clear.


Reviewer Comment (2025-07-29): Required verification confirming the borrower's acknowledgment of receipt of the valuation three days prior to closing has not been received. Exception Remains.


Seller Comment (2025-07-28): [Redact] - Entered comments in DD Portal & [Redact].  Exception is invalid - please cancel.  Appraisal dated [Redact] - located in [Redact] - two (2) copies - Document # D0343 - Pages 851-882 & D0345 - Pages 883-912, Appraisal Transfer Letter dated [Redact] - Document # D0347 - Page 920 & Appraisal Acknowledgement e-mail sent [Redact] - Document # D0347 - Page 919.  There is only one (1) appraisal in the file - sent to borrower [Redact], which is within three (3) business days of closing - [Redact].  There is no timing issue - please review and cancel exception.  Appraisal Transfer Letter & Appraisal Acknowledgment e-mail for Proof of Delivery were in [Redact] at time of review in Appraisal Notice folder.
 08/07/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B A A C B A A Non QM Non QM No
[Redact] 9116972 [Redact]   33838486     Credit Asset Asset Documentation Asset Asset documentation requirements not met.   Missing: Business funds can be used for down payment and cash reserves if the borrower(s) own 100% of the business and requires a letter from the accountant of the business or an underwriter cash flow analysis of the business balance sheet to confirm that the withdrawal will not negatively impact the business. Acct#[Redact].       Reviewer Comment (2025-06-03): See new exception. Business assets were mitted from consideration. New retirement account assets were provided for consideration,  Assets are insufficient, see new exception


Buyer Comment (2025-06-03): I don't see that the retirement acct on D0410 pg 514  was taken in account


Reviewer Comment (2025-06-02): Reserves will be short if we remove the business assets.


Buyer Comment (2025-06-02): The final 1003 nor the final 1008 reflect the business assets , please remove exception


Reviewer Comment (2025-05-27): Require business balance sheet with cash flow analysis of the business or CPA letter stating confirm that the withdrawal will not negatively impact the business. Acct#[Redact]. exception remains.


Buyer Comment (2025-05-23): Additional Asset Statements


Reviewer Comment (2025-05-21): Received Cashflow analysis of business asset # [Redact] confirm no negative impact for using Business funds., however still Business balance sheet is missing per guideline. " an underwriter cash flow analysis of the business balance sheet to confirm that the withdrawal will not negatively impact the business" Exception Remains


Buyer Comment (2025-05-20): Liquidity Calculator


Reviewer Comment (2025-05-15): Without Business account # [Redact] File is shortfall to meet Reserve requirement. lender used 100% Stock account whereas per Guideline it has to be discounted to 70% to be included in Reserve. Additionally [Redact] gift amount already deposited in Borrower Stock accounts [Redact] and [Redact] therefore both gift amount excluded from Balance of account # [Redact] and [Redact] to get actual Balance. Exception Remains.


Buyer Comment (2025-05-14): LOX


Buyer Comment (2025-05-14): Per lender: Business Bank statements were used to calculate income only. No Business funds were used for closing or for reserves. Only personal assets were used for closing/reserves.
 06/03/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9116972 [Redact]   33838487     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   New exception as a result of new documentation provided. . Business assets were omitted from consideration. New retirement account assets were provided for consideration,  Assets are insufficient to meet closing. IRA funds were used to meet reserves but not considered for cash to close as guides require evidence of disbursement for IRA/401k accounts.       Reviewer Comment (2025-06-16): Received proof of liquidation and the same used for closing and reserves. exception cleared.


Buyer Comment (2025-06-13): Wire Receipt and [Redact] Stmts for account [Redact] and [Redact] showing liquidation of funds for closing [Redact] wired to title on [Redact]. Also included [Redact] and [Redact] statements for both [Redact] and [Redact].
 06/16/2025     1   A   A   A   A   A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9116972 [Redact]   33838488     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - New exception as a result of new documentation provided. . Business assets were omitted from consideration. New retirement account assets were provided for consideration,  Assets provided are dated [Redact] to [Redact]. Closing occurred [Redact]. Must have 2 months statements. Used the [Redact] balances for testing. Provide [Redact] to [Redact] statement for the IRA accounts.  Also, provide a revised final 1003 and 1008 reflecting actual assets used to qualify. Accts [Redact], [Redact], [Redact], [Redact].       Reviewer Comment (2025-06-16): Received proof of liquidation and the same used for closing and reserves. exception cleared. and updated 1003 and 1008 also [Redact] and [Redact] account statement for accts [Redact], [Redact], [Redact], [Redact]. exception cleared.


Buyer Comment (2025-06-13): Updated 1003/1008 with Assets listed from Accts [Redact],[Redact],[Redact],[Redact] and [Redact] and [Redact] Statements for both [Redact] and [Redact]
 06/16/2025     1   A   A   A   A   A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9176457 [Redact]   33838494     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower within 3 days of closing was not provided.  Waiver not provided.       Buyer Comment (2025-06-09): Borrower acknowledged receipt in file along with previous version of the appraisal. Acknowledged as non-material.
     06/09/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   D B C A C B D A Non QM Non QM No
[Redact] 9176457 [Redact]   33838495     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   Guidelines require a CDA for all loans that do not include 2 appraisals.  Missing required CDA. [Redact]       Reviewer Comment (2025-06-19): Received CDA. Exception Cleared


Buyer Comment (2025-06-18): CDA
 06/19/2025     1 D A D A D A D A D A   [Redact] Primary Purchase   D B C A C B D A Non QM Non QM No
[Redact] 9176457 [Redact]   33838496     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2025-06-11): Final title provided.
 06/11/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   D B C A C B D A Non QM Non QM No
[Redact] 9176457 [Redact]   33838497     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   Require updated Title document as Title Coverage of [Redact] is less than the note amount of [Redact] based on the Commitment in file. No Closing Instructions provided. [Redact]       Reviewer Comment (2025-06-11): Final title provided.


Buyer Comment (2025-06-10): Title
 06/11/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   D B C A C B D A Non QM Non QM No
[Redact] 9176457 [Redact]   33838498     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - ___ 1. Require Business narrative from the borrower to describe the type of business and number of employees
2. Require Third Party Verification of business document for the borrower verifying that the business is active and operating either no more than 10 business days prior to the Note Date or after the Note Date but prior to [Redact] Purchase require one of the following *Evidence of Current work *Evidence of current business receipts * Business website demonstrating activity supporting current business operations.		       Reviewer Comment (2025-06-12): Provided.


Buyer Comment (2025-06-12): Business page


Reviewer Comment (2025-06-11): Narrative provided. Still missing one of the following:  *Evidence of Current work *Evidence of current business receipts * Business website demonstrating activity supporting current business operations.


Buyer Comment (2025-06-11): Business Narrative


Buyer Comment (2025-06-10): Verification of business


Buyer Comment (2025-06-10): Business Narrative
 06/12/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   D B C A C B D A Non QM Non QM No
[Redact] 9176457 [Redact]   33838499     Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. The loan was agency approved with an Originator Loan Designation of (NON-QM) but the required Business Narrative and VVOE required per Investor Guidelines were not provided causing the loan to waterfall through the QM Testing.       Reviewer Comment (2025-06-19): All Income Related exception has been cleared. Exception Cleared


Buyer Comment (2025-06-18): All exception have been upload. Please review and clear.
 06/19/2025     1 B A C A B A C A B A   [Redact] Primary Purchase Lender to provide updated ATR/QM Loan Designation D B C A C B D A Non QM Non QM Yes
[Redact] 9176457 [Redact]   33838500     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. The loan was agency approved with an Originator Loan Designation of (NON-QM) but the required Business Narrative and VVOE required per Investor Guidelines were not provided causing the loan to waterfall through the QM Testing.       Reviewer Comment (2025-06-19): All Income Related exception has been cleared. Exception Cleared


Buyer Comment (2025-06-18): All exception have been upload. Please review and clear.
 06/19/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   D B C A C B D A Non QM Non QM No
[Redact] 9140910 [Redact]   33838508     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). Non-QM designation. This is an informational EV2 and may be waived.       Buyer Comment (2025-06-11): Acknowledged non material
     06/11/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Rate/Term LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A C B A A Non QM Non QM Yes
[Redact] 9140910 [Redact]   33838510     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - A Business Narrative is required from the borrower to describe the type of business and number of employees.

Third Party Verification of Business document is required to verify that the business is active and operating either no more than 10 business days prior to the Note Date, or after the Note Date but prior to [Redact] purchase one of the following is required:
• Evidence of current work (executed contracts or signed invoices)
• Evidence of current business receipts.
• Business website demonstrating activity supporting current business operation.		       Reviewer Comment (2025-06-19): Business narrative from borrower confirmed about nature of business and employee numbers, For business verification received Business website confirming Business operation actively running. Exception Cleared


Buyer Comment (2025-06-18): [Redact] search


Buyer Comment (2025-06-18): [Redact] business search


Buyer Comment (2025-06-18): LOX


Buyer Comment (2025-06-18): business narrative
 06/19/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Rate/Term   C B C A C B A A Non QM Non QM No
[Redact] 9140910 [Redact]   33838511     Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. The loan was agency approved with an Originator Loan Designation of (NON-QM) but the required (enter missing documentation) required per Investor Guidelines was not provided causing the loan to waterfall through the QM Testing.       Reviewer Comment (2025-06-19): Received Business narrative and third party Verification as business website confirming business nature and actively Operating . Exception Cleared


Buyer Comment (2025-06-18): business narrative and TPV provided
 06/19/2025     1 B A C A B A C A B A   [Redact] Primary Refinance - Rate/Term Lender to provide updated ATR/QM Loan Designation C B C A C B A A Non QM Non QM Yes
[Redact] 9140910 [Redact]   33838512     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. The loan was agency approved with an Originator Loan Designation of (NON-QM) but the required (enter missing documentation) required per Investor Guidelines was not provided causing the loan to waterfall through the QM Testing.       Reviewer Comment (2025-06-19): Received Business narrative and third party Verification as business website confirming business nature and actively Operating . Exception Cleared


Buyer Comment (2025-06-18): business narrative and TPV provided
 06/19/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Rate/Term   C B C A C B A A Non QM Non QM No
[Redact] 9169302 [Redact]   33838514     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - Business Narrative is missing for [Redact]/ [Redact].       Reviewer Comment (2025-06-13): Provided.


Buyer Comment (2025-06-13): Bus Narr
 06/13/2025     1 C A C A C A C A C A   [Redact] Second Home Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9169302 [Redact]   33838518     Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. Loan designation failure due to ATR failure.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.       Reviewer Comment (2025-06-13): Business narrative income docs provided.
 06/13/2025     1 B A C A B A C A B A   [Redact] Second Home Purchase Lender to provide updated ATR/QM Loan Designation C A C A C A A A Non QM Non QM Yes
[Redact] 9169302 [Redact]   33838519     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. Loan designation failure due to ATR failure.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.       Reviewer Comment (2025-06-13): Business narrative income docs provided.
 06/13/2025     1 C A C A C A C A C A   [Redact] Second Home Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9169302 [Redact]   33838520     Credit Missing Document General Missing Document Missing Document: Condo/PUD Warranty not provided   Provide PERS, CPM Approval or Lender attestation that the condo meets warrantability.       Reviewer Comment (2025-06-19): Condo cert provided.


Buyer Comment (2025-06-17): Lender Condo Cert
 06/19/2025     1   A   A   A   A   A   [Redact] Second Home Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9165435 [Redact]   33838541     Credit Credit Credit Documentation Credit No evidence of fraud report in file   Fraud report provided is for the borrower ([Redact]) and as per guide, a third-party fraud report is required for the entity and all members of the entity. Therefore Fraud report is required for the entity ([Redact]).       Reviewer Comment (2025-06-11): Received Fraud report for [Redact]. Exception Cleared


Buyer Comment (2025-06-09): Fraud report
 06/11/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9165435 [Redact]   33838543     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   As per guide, require 12-month housing history for Primary Residence [Redact]. Subject to further review once application provided confirming primary residence.       Reviewer Comment (2025-06-19): Received Rent Free Letter from Borrower. Exception Cleared


Buyer Comment (2025-06-18): uploaded LOE, confirming the borrower lives rent free and updated app changing 'own' to rent


Reviewer Comment (2025-06-16): Require living rent free LOE / Email from borrower stating he is living rent free on the property "[Redact]" also application should be updated "[Redact]" as rent free. exception remains. Provide a rent-free letter from the homeowner or landlord, stating that the borrower resides at the property without paying rent.


Buyer Comment (2025-06-12): LOE


Reviewer Comment (2025-06-06): Require Rent Free LOX . Borrower meet Housing history requirement based on the 12 Months ownership and management of income Producing residential. Exception Remains


Buyer Comment (2025-06-05): we are using the guideline of 'borrowers who have lived in a rent-free situation are eligible if borrower is an experienced RE investor with a min. 12 months of ownership & management of income producing residental or commerical RE within the past 24 months. Borrower does live rent free but has owned and manage real estate since 2020, attached property transaction report and LOE that he lives rent free.
 06/19/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A   N/A No
[Redact] 9217165 [Redact] [Redact] 33983207     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/22/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9217165 [Redact] [Redact] 34011126     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-23): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9217166 [Redact] [Redact] 34062965     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9217166 [Redact] [Redact] 34062966     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9217166 [Redact] [Redact] 34068806     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-30): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9217166 [Redact] [Redact] 34068842     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Issue:  Subject loan is a non-arms length transaction  outside of credit guidelines   Per the guidelines, Transactions between family members is not permitted.  The borrower and seller are related. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.

Miscellaneous		 LTV of 54% where 75% is maximum

Post close assets: [Redact], 24 months where 6 months is required. (4x)

DSCR of 1.79 where 1.0 is minimum		 [Redact],Aggregator

Aggregator,[Redact]

[Redact]

[Redact]

[Redact]

[Redact],Aggregator		 Reviewer Comment (2025-07-31): Client elected to waive the condition with the following compensating factors:
LTV of 54% where 75% is maximum
DSCR of 1.79 where 1.0 is minimum
Post close assets: [Redact], 24 months where 6 months is required. (4x)


Seller Comment (2025-07-29): The [Redact] SLE approval supporting the non-arms length exception was included in the review package on pages 696-698. Copy also attached.
     07/31/2025 2 C B C B C B C B C B   [Redact] Investment Purchase   C B C B B B A A   N/A No
[Redact] 9218033 [Redact] [Redact] 34007042     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-28): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9218030 [Redact] [Redact] 34095973     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/30/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9218030 [Redact] [Redact] 34096738     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9218029 [Redact] [Redact] 34064159     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-30): Collateral delivered on [Redact] via [Redact] tracking number [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9218034 [Redact] [Redact] 34096455     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/30/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9218034 [Redact] [Redact] 34096513     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9218082 [Redact] [Redact] 34068797     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:45 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9218592 [Redact] [Redact] 34118103     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-04): (Rate Lock) [Redact]
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9218594 [Redact] [Redact] 34099271     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9219908 [Redact] [Redact] 34109964     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/04/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9220379 [Redact] [Redact] 33993520     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-25): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-21): (Rate Lock) [Redact]
 07/25/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9220495 [Redact] [Redact] 34060263     Credit Hazard Insurance Insufficient Coverage Hazard Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   HOI coverage is insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact]  OR provide copy of insurer's replacement cost estimate supporting current coverage amount       Reviewer Comment (2025-07-30): Received Replacement Cost Estimator. Exception Cleared.


Seller Comment (2025-07-29): Please see attached statement from agent stating loan has replacement cost coverage; property is in state of [Redact].
 07/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9220495 [Redact] [Redact] 34068662     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9220495 [Redact] [Redact] 34068794     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C B C A B B A A   N/A No
[Redact] 9221885 [Redact] [Redact] 34096821     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9118353 [Redact]   33887685     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - For REO property [Redact] require Tax Verification document as it is missing.
For REO property [Redact] require Mortgage Statement to verify monthly PITIA expenses as it is missing.		       Reviewer Comment (2025-05-27): Received Tax cert For " [Redact]" Exception Cleared. Parcel Number verify from Online source.


Buyer Comment (2025-05-23): Property taxes


Reviewer Comment (2025-05-21): Received REO document for[Redact], still missing Tax verification for "[Redact]". Exception Remains


Buyer Comment (2025-05-20): HOA, Taxes, CD
 05/27/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A Non QM N/A No
[Redact] 9118353 [Redact]   33887686     Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: - ___ Bank statement loans. Missing : The borrower's business ownership percentage must be at least 25%. The ownership percentage must be verified via a CPA/Tax Preparer, Operating Agreement or equivalent.       Reviewer Comment (2025-06-19): CPA letter provided stating [Redact] is 100% owner of [Redact]. Cleared


Buyer Comment (2025-06-18): CPA letter


Reviewer Comment (2025-05-30): Loan qualified with Bank statement income for Borrower [Redact] with 100% Ownership, both borrower Owned the business does not suffice the requirement. Income will change based on the ownership. Require Evidence of ownership. Exception Remains


Buyer Comment (2025-05-29): Lender's comment: Both borrowers on the loan are the only members of the LLC. They have 100% ownership between the two of them. May we rebut this condition with the diligence firm? Thank you.


Reviewer Comment (2025-05-21): Received Statement of information for [Redact] Confirmed Borrower [Redact] is Director, CEO, CFO and Secretary., however for Other Business [Redact] Shows 2 member  and Lender considered 100% ownership. Require CPA or Operating agreement of [Redact] to confirm Borrower [Redact] ownership. Exception Remains


Buyer Comment (2025-05-20): SOS
 06/19/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A Non QM N/A No
[Redact] 9131464 [Redact]   33887874     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   Sign and dated Final 1003 is missing in the file.       Reviewer Comment (2025-05-23): Received Final 1003. Exception Cleared


Buyer Comment (2025-05-21): Final 1003
 05/23/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9131464 [Redact]   33887877     Credit Guideline Guideline Issue Guideline Experience level does not meet the guideline requirements for an experienced investor.   Provide a letter of explanation detailing relevant real estate experience. Must have a minimum of 12 months ownership and management of income producing residential or commercial real estate within the past 24 months.       Reviewer Comment (2025-06-04): Received letter of Explanation letter with detailing relevant real estate experience.. Exception Cleared


Buyer Comment (2025-06-03): Letters regarding real estate experience


Reviewer Comment (2025-05-27): Require LOE signed and dated by borrower. LOE received is not signed by borrower. exception remains.


Buyer Comment (2025-05-23): LOE
 06/04/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9131464 [Redact]   33887878     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   Require CPA letter for Funds from Business Account [Redact], to confirm that the withdrawal will not negatively impact the business.       Reviewer Comment (2025-05-30): CPA letter not require as HELOC fund Directly deposited in to Business account. HELOC statement noted Advance of [Redact]Used the same for qualification. Exception Cleared


Buyer Comment (2025-05-29): Per lender: Funds were not from business account but a HELOC. Is there any information you will need for this?


Reviewer Comment (2025-05-27): As per guidelines CPA letter require to state that business account xxxx[Redact]  withdrawal will not negatively impact the business. exception remains.


Buyer Comment (2025-05-23): LOE
 05/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9131464 [Redact]   33887879     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Guidelines require a Verification of Mortgage, including the month prior to closing.  Missing VOM for [Redact] for [Redact] #[Redact]       Reviewer Comment (2025-05-28): Received Credit supplement confirm payment of Mortgage # [Redact] till [Redact]. exception Cleared


Buyer Comment (2025-05-23): Supplement
 05/28/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9131464 [Redact]   33887880     Credit Loan Package Documentation Application / Processing Loan Package Documentation FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.   Provide a PDI.       Reviewer Comment (2025-07-02): PDI provided and no damage.


Buyer Comment (2025-07-02): PDI
 07/02/2025     1   A   A   A   A   A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9120509 [Redact]   33887881     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided   Guarantor Agreement is missing for [Redact]       Reviewer Comment (2025-06-17): Received Guarantee agreement executed by the member and associated accordingly. Exception Cleared.


Buyer Comment (2025-06-13): Guaranty
 06/17/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9120509 [Redact]   33887883     Credit Guideline Guideline Issue Guideline Experience level does not meet the guideline requirements for an experienced investor.   Provide a letter of explanation detailing B1 relevant real estate experience.   Must have a minimum of 12 months ownership and management of income producing residential or commercial real estate within the past 24 months.

LOX has been provided for Experience Grid, however borrower sign and date is missing.		       Reviewer Comment (2025-05-30): Received Signed Experience letter. Exception cleared


Buyer Comment (2025-05-28): LOE
 05/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9120509 [Redact]   33887884     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Guidelines require a Verification of Mortgages including the month prior to closing. Missing VOM for [Redact] and [Redact] for [Redact] #[Redact], #[Redact], #[Redact], #[Redact], [Redact] #[Redact] and #[Redact]. Also missing [Redact] for [Redact] #[Redact].       Reviewer Comment (2025-06-27): Received Credit supplement  confirmed Open Mortgages Verification till [Redact]. Exception Cleared


Buyer Comment (2025-06-25): Credit Supp


Reviewer Comment (2025-05-30): Received Property history report and Payoff statement of Account  # [Redact] which next due for[Redact] which does not meet Month prior to to closing requirement/ Missing VOM for [Redact] and [Redact] for [Redact] #[Redact], #[Redact], #[Redact], #[Redact], [Redact] #[Redact] and #[Redact]. Also missing [Redact] for [Redact] #[Redact]. Exception Remains


Buyer Comment (2025-05-28): Miscellaneous documents
 06/27/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   D A D A A A A A   N/A No
[Redact] 9173455 [Redact]   33887891     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2025-06-24): Received UCDP With CU Score less than 2.5 CDA not require per DSCR V8 guideline


Buyer Comment (2025-06-24): CU score 1
 06/24/2025     1 D A D A D A D A D A   [Redact] Investment Purchase   D A D A A A D A   N/A No
[Redact] 9173455 [Redact]   33887893     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The loan file must include documentation detailing the DSCR calculation, such as the 1008, Loan Approval or a DSCR Calculation Worksheet as per guide.       Reviewer Comment (2025-06-24): Received DSCR calculation worksheet. Exception Cleared


Buyer Comment (2025-06-24): See page 6 of upload
 06/24/2025     1 C A C A C A C A D A   [Redact] Investment Purchase   D A D A A A D A   N/A No
[Redact] 9173455 [Redact]   33887894     Credit Missing Document General Missing Document Missing Document: Cash Flow Analysis (Asset) not provided   Missing evidence of unfettered access to business funds used.       Reviewer Comment (2025-06-25): Removed Business funds from qualification as Lender did not provided Evidence of access funds, however without Business funds. Cash to close and reserve requirement are met therefore no evidence  of access of Business funds # [Redact] Require. Exception Cleared


Buyer Comment (2025-06-25): access to funds


Reviewer Comment (2025-06-24): Received Access letter for non-borrower confirming borrower has access to funds in the joint account. However Evidence is required to confirm borrower has access to business funds from business account ([Redact]) Either a CPA letter confirming withdrawal of funds will not negative impact the business or a cash flow analysis or operating agreement that confirms the borrower's ownership in the business. Exception remains.


Buyer Comment (2025-06-24): LOX
 06/25/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A D A   N/A No
[Redact] 9173455 [Redact]   33887895     Property Property - Appraisal General Appraisal Requirements Property - Appraisal The appraisal revealed property damage.   Appraisal report images show damaged screen, peeling paint, damaged siding, and damaged screened patio door. Provided 442 is only for removal of security bars.       Reviewer Comment (2025-06-26): Images showing damage are normal wear and tear. Cleared.


Buyer Comment (2025-06-24): Per lender : This is a conventional appraisal, and the only item listed under the repairs was the removal of the security bars. This was for health and safety reasons. The other items are considered minor conditions and deferred Maintenance. Minor conditions and deferred maintenance are typically due to normal wear and tear from the aging process and the occupancy of the property. While such conditions generally do not rise to the level of a required repair, they must be reported. Examples of minor conditions and deferred maintenance include worn floor finishes or carpet, minor plumbing leaks, holes in window screens, missing handrails, or cracked window glass.
 06/26/2025     1 B A B A B A B A B A   [Redact] Investment Purchase   D A D A A A D A   N/A No
[Redact] 9184880 [Redact]   33887899     Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Closing Protection Letter not provided   Closing Protection Letter missing.       Reviewer Comment (2025-06-26): Received Closing protection letter for subject property. Exception Cleared


Buyer Comment (2025-06-25): CPL
 06/26/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9184880 [Redact]   33887901     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Require Fraud Report for the borrower [Redact]       Reviewer Comment (2025-06-26): Received Fraud Report for Borrower [Redact]. Exception Cleared


Buyer Comment (2025-06-25): Fraud Report
 06/26/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9184880 [Redact]   33887902     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   OFAC search for borrower not provided       Reviewer Comment (2025-06-26): Received OFAC Result Exception Cleared. Exception Cleared


Buyer Comment (2025-06-25): OFAC IS ON LAST PAGE
 06/26/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9184880 [Redact]   33887903     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   The loan file must include documentation detailing the DSCR calculation, such as the 1008, Loan Approval or a DSCR Calculation Worksheet as per guide.       Reviewer Comment (2025-06-26): Received DSCR Calculation worksheet. Exception Cleared


Buyer Comment (2025-06-25): DSCR info
 06/26/2025     1 C A C A C A C A D A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9184880 [Redact]   33887904     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   Verification of Identification document missing for borrower.       Reviewer Comment (2025-06-26): Received Driving License for borrower. Exception Cleared


Buyer Comment (2025-06-25): Identification
 06/26/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9184880 [Redact]   33887908     Credit Compliance Miscellaneous Compliance Compliance Patriot Act Disclosure is missing - Patriot Act Disclosure is missing       Reviewer Comment (2025-06-26): Received Patriot act Disclosure. Exception Cleared


Buyer Comment (2025-06-25): Patriot Act Dis.
 06/26/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9184880 [Redact]   33887909     Credit Loan Package Documentation Application / Processing Loan Package Documentation FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date.   The property is located in FEMA Disaster area. Appraisal was made after the inspection date.  No end date declared.       Reviewer Comment (2025-06-26): Appraisal report with effective date of [Redact] which after the Disaster end date of [Redact]. Appraisal confirmed no damages on the property. Exception Cleared


Buyer Comment (2025-06-25): Lender's response: the appraisal which was done a MONTH AFTER these storms came thru has all the photo proof you need inside and out that there are No damages - please clear the condition Thank you
 06/26/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   D A D A A A A A   N/A No
[Redact] 9222438 [Redact] [Redact] 34139726     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-06): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9222438 [Redact] [Redact] 34139900     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. ECOA Receipt of Appraisal Without Waiver             08/05/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9183122 [Redact]   33892901     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2   The file is missing a copy of the secondary valuation required for securitization purposes.       Reviewer Comment (2025-05-09): Received CDA. Exception Cleared


Buyer Comment (2025-05-08): CDA
 05/09/2025     1 D A D A D A D A D A   [Redact] Investment Refinance - Rate/Term   D B C B A A D A   N/A No
[Redact] 9183122 [Redact]   33892903     Credit Missing Document General Missing Document Missing Document: Trust Agreement (Asset) not provided   Required Trust agreement for [Redact] #[Redact] for [Redact]       Reviewer Comment (2025-05-13): Received updated 1003 without Trust account # [Redact]. exception Cleared


Buyer Comment (2025-05-12): LOX
 05/13/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   D B C B A A D A   N/A No
[Redact] 9183122 [Redact]   33892904     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   All 4 leases have converted to month-to-month.  Provide the most recent two (2) months proof of receipt to evidence continuance of lease for unit [Redact].       Reviewer Comment (2025-05-09): Section 2503 is is Section A unit [Redact] is paid by Housing authority and rest paid by Tenant. Recently It got change from [Redact] to [Redact] deposit reflected in Bank statement and [Redact] deposit receipt provided leads total of [Redact]. previous [Redact] deposit also reflected in Bank statement. Exception Cleared


Buyer Comment (2025-05-08): LOX
 05/09/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   D B C B A A D A   N/A No
[Redact] 9183122 [Redact]   33892905     Credit Guideline Guideline Issue Guideline Loan product type is ineligible per guidelines. Product: ___; Amortization Term: ___ Loan is ineligible due to executed 4506-C in file. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.		 7.5 vs 3 months [Redact],Aggregator

[Redact]		 Reviewer Comment (2025-05-13): Investor accepts and agrees to waive with compensating factors.


Buyer Comment (2025-05-13): Exception from [Redact].


Buyer Comment (2025-05-13): Exception from [Redact]
     05/13/2025 2   B   B   B   B   B   [Redact] Investment Refinance - Rate/Term   D B C B A A D A   N/A No
[Redact] 9226560 [Redact] [Redact] 34158113     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-11): Waived on Rate Lock: Collateral cleared by Custodian
 08/11/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9226764 [Redact] [Redact] 34098652     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-05): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-01): collateral delivered [Redact] via [Redact] tracking [Redact]
 08/05/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A   N/A No
[Redact] 9226765 [Redact] [Redact] 34063073     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-29): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:45 am.
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Limited Cash-out GSE   A A A A A A A A   N/A No
[Redact] 9229950 [Redact] [Redact] 34008036     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.   Mortgage note yet reviewed or approved by custodian. If applicable, please provided tracking number for delivery of collateral file.       Buyer Comment (2025-07-30): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-24): (Rate Lock) [Redact]
 07/30/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   A A A A A A A A   N/A No
[Redact] 9158356 [Redact]   33925653     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Missing Certificate of Good Standing for the current year.       Reviewer Comment (2025-06-25): provided


Buyer Comment (2025-06-17): Uploaded the [Redact] with EIN number that matches borrowers IRS statement.  We are allowed to use this as a certificate of good standing if it has the EIN number
 06/25/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9158501 [Redact]   33925654     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard insurance coverage amount is[Redact] but loan amount is [Redact].       Reviewer Comment (2025-06-25): RCE provided


Buyer Comment (2025-06-18): Please see attached the [Redact] cost estimator
 06/25/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9158501 [Redact]   33925656     Credit Credit Miscellaneous Guideline Credit Exception:   Lender requested an exception which was approved to "Requesting exception to grant transaction when there are encroachments on title." Borrower has owned the subject property for at least 5 years.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Experienced borrower

FICO is 746 vs the minimum of 700		 Originator Pre-Close,[Redact]

Originator Pre-Close,[Redact]		 Reviewer Comment (2025-06-17): Client elects to down grade and waive using compensating factors
FICO is 746 vs the minimum of 700
Experienced borrower
     06/17/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term   C B C B     A A   N/A No
[Redact] 9137862 [Redact]   33925658     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Missing for the borrowing entity. The [Redact] agreement was provided.       Reviewer Comment (2025-06-25): The borrowing entity is a series of the [Redact] entity. Operating agreement and articles provided


Buyer Comment (2025-06-18): [Redact]_[Redact]-Master operating agreement was upload again thank you :)
 06/25/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9158602 [Redact]   33925664     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided   Approval is missing.       Reviewer Comment (2025-07-02): Received loan approval exception cleared.


Buyer Comment (2025-06-25): Loan approval attached
 07/02/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9158602 [Redact]   33925665     Credit Missing Document General Missing Document Missing Document: Vacation Rental Income Statement (VRBO, Airbnb, etc.) not provided   Missing Vacation Rental Statement: Per guidelines the most recent 12-month bank statements evidencing short-term rental deposit. The borrower must provide rental records for the subject property to support monthly deposits.       Reviewer Comment (2025-07-03): 16 month income provided


Buyer Comment (2025-06-26): Copy of rental income docs covering 12 mos from [Redact]-[Redact] attached reflecting STR for subject property
 07/03/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
[Redact] 9230073 [Redact] [Redact] 34062826     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-07-31): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-30): collateral delivered [Redact] via [Redact] tracking [Redact]
 07/31/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9230073 [Redact] [Redact] 34063985     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   The subject is new construction the tax cert provided was for land only, Please provide a copy of the tax certificate used to calculate the annual taxes.       Reviewer Comment (2025-08-05): Taxes calculated using tax rate from tax bill present in file. Exception Cleared.


Seller Comment (2025-08-05): Taxes calculated using Purchase Price x millage per tax bill. ([Redact]*.01930189)/12 =[Redact]/month
 08/05/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A A A A A   N/A No
[Redact] 9233117 [Redact] [Redact] 34044025     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             07/28/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9233117 [Redact] [Redact] 34068790     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-04): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-07-31): (Rate Lock) [Redact]
 08/04/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   B B A A B B A A   N/A No
[Redact] 9237474 [Redact] [Redact] 34129050     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Verification appraisal was delivered to borrower was not provided.             08/04/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9237474 [Redact] [Redact] 34137956     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-06): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): The collateral was delivered [Redact] via [Redact] trk#[Redact].
 08/06/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9237959 [Redact] [Redact] 34151096     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. Verification appraisal was delivered to borrower was not provided.             08/06/2025 2 B B B B B B B B B B   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9237959 [Redact] [Redact] 34151113     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-08): Collateral delivered on [Redact] via [Redact] tracking number [Redact].
 08/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   B B A A B B A A   N/A No
[Redact] 9238219 [Redact] [Redact] 33996359     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-07): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-05): (Rate Lock) [Redact]
 08/07/2025     1 A A A A A A A A A A   [Redact] Primary Purchase   A A A A A A A A Non QM Non QM No
[Redact] 9239726 [Redact] [Redact] 34031810     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-11): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-06): (Rate Lock) [Redact]
 08/11/2025     1 A A A A A A A A A A   [Redact] Investment Purchase   A A A A A A A A Exempt from ATR Exempt from ATR No
[Redact] 9131312 [Redact] [Redact] 34062544     Credit Collateral Missing/Incorrect Collateral Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.           Buyer Comment (2025-08-08): Waived on Rate Lock: Collateral cleared by Custodian


Seller Comment (2025-08-04): (Rate Lock) [Redact]
 08/08/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Rate/Term   B B A A B B A A Exempt from ATR Exempt from ATR No
[Redact] 9131312 [Redact] [Redact] 34101550     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]).       Reviewer Comment (2025-07-31): Client elected to waive the condition on the Non-QM 1st lien
     07/31/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Rate/Term LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. B B A A B B A A Exempt from ATR Exempt from ATR Yes
[Redact] 9213178 [Redact]   34196669     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2025-05-14): FTP provided
 05/14/2025     1 A A A A A A A A A A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A N/A N/A No
[Redact] 9213178 [Redact]   34196670     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - 1 The Lease Agreement reflects a start date and end date as the same day ([Redact]). Provide the updated lease agreement. 2) Provide evidence of 2 months rent receipt. Must be in a separate account outside of what was used for income.       Reviewer Comment (2025-05-29): Received updated 1008/1003 removing rental income. Loan still qualifies.


Buyer Comment (2025-05-29): Please see attached.
 05/29/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A N/A N/A No
[Redact] 9213178 [Redact]   34196671     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - Provide Mortgage statement to verify if the property taxes and insurance are escrowed. If not, then provide tax cert and hazard insurance to determine the taxes and insurance on the property.       Reviewer Comment (2025-05-14): Mortgage statement provided. Escrowed.


Buyer Comment (2025-05-14): Please see attached.
 05/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A N/A N/A No
[Redact] 9213178 [Redact]   34196672     Credit Missing Document General Missing Document Incomplete Document: 1003 Final is incomplete   Provide borrower's marital status. DOT reflects a married man.       Reviewer Comment (2025-05-30): Updated 1003 provided


Buyer Comment (2025-05-30): Please see attached.


Reviewer Comment (2025-05-29): As previously noted on [Redact], the deed does not clear this condition. Provide the updated 1003 reflecting married. Currently is blank. The 1003 uploaded still does not reflect Married.


Buyer Comment (2025-05-29): Please see attached.


Reviewer Comment (2025-05-14): The deed does not clear this condition. Provide the updated 1003 reflecting married. Currently is blank.


Buyer Comment (2025-05-14): Please see attached.
 05/30/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A N/A N/A No
[Redact] 9213178 [Redact]   34196673     Credit System General System Flood Certificate Subject Address does not match Note address.   Note [Redact] vs Flood cert [Redact]       Reviewer Comment (2025-05-14): Updated flood cert provided


Buyer Comment (2025-05-14): Please see attached.
 05/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A N/A N/A No
[Redact] 9213178 [Redact]   34196674     Credit Credit Miscellaneous Guideline Credit Exception:   Provide the clear title policy. Item #2 reflects taxes due and delinquent after [Redact].       Reviewer Comment (2025-05-14): Clear FTP provided


Buyer Comment (2025-05-14): Please see attached.
 05/14/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A N/A N/A No
[Redact] 9213178 [Redact]   34196675     Credit Loan Package Documentation Closing / Title Loan Package Documentation Title Error: Title vesting does not concur with deed   FTP provided post review reflects borrower and non-borrower as husband and wife. Vesting on DOT reflects our borrower as sole and separate.       Reviewer Comment (2025-05-30): Corrected later dated FTP provided


Buyer Comment (2025-05-30): Please see attached.


Reviewer Comment (2025-05-29): The same FTP was provided that was previously provided. Please review the original condition. FTP provided post review reflects borrower and non-borrower as husband and wife. Vesting on DOT reflects our borrower as sole and separate.


Buyer Comment (2025-05-29): Please see attached.
 05/30/2025     1   A   A   A   A   A   [Redact] Investment Refinance - Cash-out - Other   C A C A A A A A N/A N/A No
[Redact] 9213180 [Redact]   34196685     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. The Collateral Desktop Analysis Fee increases from [Redact] on the initial Loan Estimate to [Redact] on the initial Closing Disclosure without a valid change of circumstance.       Reviewer Comment (2025-05-19): Sufficient Cure Provided At Closing
   05/19/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C A C A A A A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) Yes
[Redact] 9213180 [Redact]   34196686     Credit Hazard Insurance Document Error Hazard Insurance Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.   ISAOA is missing       Reviewer Comment (2025-06-02): Updated HOI provided with endorsement effective at time of closing.


Buyer Comment (2025-06-02): Please see updated HOI; Embrace Home Loans Inc ISAOA
 06/02/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9213174 [Redact]   34196688     Compliance Compliance Federal Compliance Missing Non-Required Data (Missing Data) Last Rate Set Date Last Date Rate Set and Initial Rate Lock Date not provided.  Worst Case Scenario between Creditor Application Date and Transaction Date used to determine rate used for testing.         Reviewer Comment (2025-05-30): Client elects to waive
     05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9213174 [Redact]   34196689     Compliance Loan Package Documentation Application / Processing Missing, Incorrect, or Incomplete Final or Initial 1003 Missing Document: Missing Lender's Initial 1003   The initial 1003 in file is not signed and dated by the borrower / LO.       Reviewer Comment (2025-05-30): Client elects to waive
     05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9213174 [Redact]   34196691     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - The provided HOI policy for property expired on [Redact]. Provide an active/current HOI policy or a copy of HOI renewal. Note: If the premium differs from the expired HOI policy, the active HOI policy's premium must be used.       Reviewer Comment (2025-06-05): Received copy of HOI renewal. Exception cleared.


Buyer Comment (2025-06-04): Please see provided HOI for [Redact]


Reviewer Comment (2025-06-04): Received HOI policy is for the subject property. However HOI policy is requested for property located at [Redact]. Exception remains.


Buyer Comment (2025-06-03): Please see provided HOI
 06/05/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9213174 [Redact]   34196692     Compliance Compliance Miscellaneous Compliance Missing Application Date Alternate source used for application date   Initial 1003 is not signed and dated by the LO. Credit report date utilized.       Reviewer Comment (2025-05-30): Client elects to waive
     05/30/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9213171 [Redact]   34196697     Compliance Compliance Federal Compliance ATR/QM Self-Employed Tax Return Recency - ATR Ability to Repay (Dodd-Frank 2014): Self Employed Tax Returns - The business or personal tax returns provided are not the most recent. Application Date [Redact],  Most Recent Tax Return End Date [Redact], Tax Return Due Date [Redact]. Business and personal recent 2024 tax returns not provided. Tax return extension in file.       Reviewer Comment (2025-05-20): Client elects to waive.
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   C B C B B B A A Non QM Non QM No
[Redact] 9213171 [Redact]   34196698     Compliance Compliance Federal Compliance ATR/QM Self-Employed Tax Return Recency - ATR Ability to Repay (Dodd-Frank 2014): Self Employed Tax Returns - The business or personal tax returns provided are not the most recent. Application Date [Redact],  Most Recent Tax Return End Date [Redact], Tax Return Due Date [Redact]. Business and personal recent 2024 tax returns not provided. Tax return extension in file.       Reviewer Comment (2025-05-20): Client elects to waive.
     05/20/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other   C B C B B B A A Non QM Non QM No
[Redact] 9213171 [Redact]   34196700     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Total cash-out discrepancy. HUD-1 total cash-out of ___ is greater than Guideline total cash-out of ___. Total cash-out of [Redact] is greater than Guideline total cash-out of [Redact]. Borrower has been employed in the same industry for more than 5 years.

Borrower has worked in the same position for more than 3 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Borrower has been employed in the same industry for more than 5 years.

Borrower has worked in the same position for more than 3 years.		 Originator,[Redact]

Originator,[Redact]

[Redact]

[Redact]		 Reviewer Comment (2025-05-22): Client elects to downgrade and waive using compensating factors
Low DTI
Numbers of years on job.
High Discretionary Income.
Number of years in home.
Housing history 0 x 30 for 12+ months.


Reviewer Comment (2025-05-22): Lender approved exception to allow cashout of [Redact] vs [Redact] guideline. Compensating factors: Low DTI, Numbers of years on job, High Discretionary Income, Number of years in home, Housing history 0 x 30 for 12+ months


Buyer Comment (2025-05-20): Please see the attached Exception
     05/22/2025 2 C B C B C B C B C B   [Redact] Primary Refinance - Cash-out - Other   C B C B B B A A Non QM Non QM No
[Redact] 9213168 [Redact]   34196701     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.           Reviewer Comment (2025-06-04): Received Final Title Policy. Exception cleared.


Buyer Comment (2025-06-04): See attached title report
 06/04/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Cash-out - Other   B B B A B B A A Higher Priced QM (APOR) Higher Priced QM (APOR) No
[Redact] 9213168 [Redact]   34196702     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2025-06-04): Received Final Title Policy. Exception cleared.
 06/04/2025     1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other   B B B A B B A A Higher Priced QM (APOR) Higher Priced QM (APOR) No
[Redact] 9213168 [Redact]   34196705     Compliance Compliance Federal Compliance TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form TILA - Incorrect Right To Cancel Form Used - H-8 Used on Same Lender Refinance (Circuit 2, 5, 7, 8, 9, 10 or DC) Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.         Reviewer Comment (2025-06-03): Client elects to waive
     06/03/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form B B B A B B A A Higher Priced QM (APOR) Higher Priced QM (APOR) Yes
[Redact] 9213175 [Redact]   34196716     Compliance Compliance Federal Compliance Federal HPML Federal HPML 2014 Non Compliant Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan. Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation - Updated appraisal dated [Redact]       Reviewer Comment (2025-06-12): Delivery provided


Buyer Comment (2025-06-12): See appraisal evaluations
 06/12/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9213175 [Redact]   34196717     Compliance Compliance Federal Compliance Federal HPML (Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer) TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Updated appraisal dated [Redact]       Reviewer Comment (2025-06-12): Delivery provided


Buyer Comment (2025-06-12): Updated appraisal
 06/12/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9213175 [Redact]   34196719     Compliance Compliance Federal Compliance TRID Defect TRID Final Closing Disclosure No Seller Paid Fees Primary Residence First Lien TRID Final Closing Disclosure [Redact] on a first lien purchase transaction did not disclose any Seller paid fees/charges on page 2. The file is missing Seller Closing Disclosure.       Reviewer Comment (2025-06-16): [Redact] received Seller CD.


Buyer Comment (2025-06-13): Attached CD
 06/16/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Letter of Explanation & Corrected Closing Disclosure C B C A C B A A Non QM Non QM Yes
[Redact] 9213175 [Redact]   34196720     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   All parties to the transaction were not included. The Seller [Redact], signing on behalf of [Redact], is missing.       Reviewer Comment (2025-06-16): Received updated Fraud Report. Fraud and OFAC search run on the seller. Exception cleared.


Buyer Comment (2025-06-13): Cleared Fraud
 06/16/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9213175 [Redact]   34196721     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C B C A C B A A Non QM Non QM Yes
[Redact] 9213175 [Redact]   34196722     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C B C A C B A A Non QM Non QM Yes
[Redact] 9213175 [Redact]   34196723     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Management Fee for Appraisal Re-inspection Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure C B C A C B A A Non QM Non QM Yes
[Redact] 9213175 [Redact]   34196725     Compliance Compliance Federal Compliance Federal HPML (Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer) TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.         Reviewer Comment (2025-06-12): Client elects to waive
     06/12/2025 2   B   B   B   B   B   [Redact] Primary Purchase   C B C A C B A A Non QM Non QM No
[Redact] 9213179 [Redact]   34196732     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Review Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-06-05): Sufficient Cure Provided At Closing
   06/05/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Rate/Term Final CD evidences Cure C A C A A A A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) Yes
[Redact] 9213179 [Redact]   34196733     Credit Missing Document General Missing Document Missing Document: Credit Report - Gap not provided   Gap report dated > 30 days prior to Note date.       Reviewer Comment (2025-06-13): UDM provided with end date of [Redact]


Buyer Comment (2025-06-12): Please see attached UDN report also located on pages 782-787 of the Closing Package.
 06/13/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Rate/Term   C A C A A A A A Safe Harbor QM (APOR) Safe Harbor QM (APOR) No
[Redact] 9213177 [Redact]   34196736     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Fraud and OFAC searches not run on Seller with suffix, [Redact]       Reviewer Comment (2025-06-18): Received updated Fraud Report. Fraud and OFAC search run on the seller with suffix. Exception cleared.


Buyer Comment (2025-06-16): See attached updated report on page 17
 06/18/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Higher Priced QM (APOR) Higher Priced QM (APOR) No
[Redact] 9213177 [Redact]   34196738     Compliance Compliance State Compliance State HPML (State HPML Disclosure) Maryland Higher-Priced Mortgage Loan (Disclosure of Non-HPML Loans Borrower Qualifies For Not Provided) [Redact] Higher-Priced Mortgage Loan:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for.         Reviewer Comment (2025-07-01): Client elects to waive
     07/01/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Higher Priced QM (APOR) Higher Priced QM (APOR) No
[Redact] 9213177 [Redact]   34196739     Compliance Compliance State Compliance State HPML [Redact] HPML Threshold Test Non-Compliant [Redact] Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Loan.         Reviewer Comment (2025-07-01): Client elects to waive
     07/01/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   C B C A B B A A Higher Priced QM (APOR) Higher Priced QM (APOR) No
[Redact] 9213177 [Redact]   34196741     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   Provided the final stamped settlement statement/Seller CD for the property on [Redact]. Used for assets and prelim only in file.       Reviewer Comment (2025-06-19): Received Seller CD signed/dated by borrower. Exception cleared.


Buyer Comment (2025-06-17): Please see attached CD.


Reviewer Comment (2025-06-13): The CD provided is for the refinance of that property from [Redact] (> 120 days from closing). Per 1003 and prelim Seller CD in file, that property was sold. Provide the final CD/Settlement Statement for the sale.


Buyer Comment (2025-06-13): Please see attached CD.
 06/19/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C B C A B B A A Higher Priced QM (APOR) Higher Priced QM (APOR) No
[Redact] 9221933 [Redact]   34201847     Credit Disclosure Missing Document Disclosure E-sign Consent Agreement is missing. -         Reviewer Comment (2025-07-28): Received esing consent, exception cleared.


Buyer Comment (2025-07-23): uploaded econsent
 07/28/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9221933 [Redact]   34201849     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Documented qualifying Assets for Closing of  [Redact] from acct# [Redact] and  acct#[Redact] is less than Cash From Borrower [Redact].       Reviewer Comment (2025-07-28): Received additional assets, exception cleared.


Buyer Comment (2025-07-24): Uploaded Bank statements for #[Redact] & #[Redact]
 07/28/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9221933 [Redact]   34201850     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Documented qualifying Assets for Closing of  [Redact] from acct# [Redact] and  acct#[Redact] is less than Cash From Borrower [Redact], plus additional required reserves.       Reviewer Comment (2025-07-28): Received additional assets, exception cleared.


Buyer Comment (2025-07-24): Uploaded Bank statements for #[Redact] & #[Redact]
 07/28/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9221933 [Redact]   34201851     Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. This is due to the assets issue       Reviewer Comment (2025-07-28): Received additional assets, exception cleared.


Buyer Comment (2025-07-24): Uploaded Bank statements for #[Redact] & #[Redact]
 07/28/2025     1 B A C A B A C A B A   [Redact] Primary Purchase Lender to provide updated ATR/QM Loan Designation C A C A C A A A Non QM Non QM Yes
[Redact] 9221933 [Redact]   34201855     Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. Documented qualifying Assets for Closing of  [Redact] from acct# [Redact] and  acct#[Redact] is less than Cash From Borrower [Redact], plus additional reserves.       Reviewer Comment (2025-07-28): Received additional assets, exception cleared.


Buyer Comment (2025-07-24): Uploaded Bank statements for #[Redact] & #[Redact]
 07/28/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A C A A A Non QM Non QM No
[Redact] 9221933 [Redact]   34201856     Compliance Compliance Federal Compliance TRID Defect TILA-RESPA Integrated Disclosure: application date on or after 10/3/2015, no Loan Estimates in the Loan File TILA-RESPA Integrated Disclosure: Loan Estimate not provided within loan images to evidence delivery to the Borrower(s).  The earliest Closing Disclosure provided in the loan file was used as the estimated baseline for Tolerance Testing.  Depending on the actual values on the initial Loan Estimate, a fee tolerance cure of up to [Redact] may be required. Loan Estimate is missing in file.       Reviewer Comment (2025-07-25): [Redact] received LEs.


Buyer Comment (2025-07-23): uploaded LE's
 07/25/2025     1 C A C A C A C A C A   [Redact] Primary Purchase No Defined Cure C A C A C A A A Non QM Non QM No
[Redact] 9222183 [Redact]   34201861     Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower. Transfer Tax was last disclosed as [Redact] on Loan Estimate but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid change of circumstance for this fee, Insufficient or no cure was provided to the borrower       Reviewer Comment (2025-07-24): [Redact]: Sufficient cure provided. Full cure amount for tolerance violation was provided at closing (on final CD) resulting in a cleared exception.


Buyer Comment (2025-07-23): This amount was already cure
 07/24/2025     1 C A C A C A C A C A   [Redact] Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Non QM Non QM Yes
[Redact] 9222183 [Redact]   34201862     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-07-24): Sufficient Cure Provided At Closing
   07/24/2025   1   A   A   A   A   A   [Redact] Primary Purchase Final CD evidences Cure C A A A C A A A Non QM Non QM Yes
[Redact] 9222248 [Redact]   34201867     Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing. Appraisal Fee was disclosed as [Redact] on initial LE but disclosed as [Redact] on Final Closing Disclosure. File does not contain a valid COC for this fee, nor evidence of cure in file.       Reviewer Comment (2025-07-18): Sufficient Cure Provided At Closing
   07/18/2025   1 A A A A A A A A A A   [Redact] Primary Purchase Final CD evidences Cure A A A A A A A A Non QM Non QM Yes
[Redact] 9222199 [Redact]   34201890     Credit Title Document Error Title The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   Provided preliminary report does not have policy amount.       Reviewer Comment (2025-07-29): Supplement provided


Buyer Comment (2025-07-28): Copy of title supplement evidencing sufficient coverage was included in initial upload...attached another copy
 07/29/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   C A B A C A A A Non QM Non QM No
[Redact] 9222199 [Redact]   34201891     Compliance Compliance Federal Compliance TRID Defect TRID Initial Closing Disclosure Timing without Waiver TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. Initial closing disclosure was not signed and dated by the borrower.       Reviewer Comment (2025-07-29): [Redact] received earliest receipt of ICD.


Buyer Comment (2025-07-28): Copy of disclosure tracking uploaded documenting date and receipt of initial CD to borrower...bwr received 3 days prior to close date
 07/29/2025     1 C A C A C A C A C A   [Redact] Primary Purchase No Defined Cure C A B A C A A A Non QM Non QM No
[Redact] 9222040 [Redact]   34201901     Credit Disclosure Missing Document Disclosure E-sign Consent Agreement is missing. - E-sign Consent Agreement is missing in file.       Reviewer Comment (2025-08-05): Received Econsent, exception cleared.


Buyer Comment (2025-08-01): Copy of eConsent attached
 08/05/2025     1 C A C A C A C A C A   [Redact] Second Home Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9222112 [Redact]   34201916     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. AVM supports value. Vendor/FSD do not meet Fitch criteria. Sec ID: 10   Vendor/FSD of 0.27 is over the max of 0.08 for Fitch.       Reviewer Comment (2025-08-12): CDA provided


Buyer Comment (2025-08-11): attached is the cda it meets guidelines and supports value.


Reviewer Comment (2025-08-11): FITCH requires an FSD score of .08 or higher, the AVM in file has met the FSD score requirement for all the other rating agencies, and the grading will remain an A grade. Will need another acceptable secondary valuation product meet FITCH requirements, another AVM will not be sufficient, will need to waterfall to another one for these products: BPO, Desk Review, Field Review, Exterior Only 2055, Full Appraisal.


Buyer Comment (2025-08-07): We are not required to meet Fitch criteria.


Buyer Comment (2025-08-07): Final SS added to file
 08/12/2025     1 A A D A A A A A A A   [Redact] Primary Purchase   D A A A A A D A Non QM Non QM No
[Redact] 9222212 [Redact]   34201933     Credit Credit Miscellaneous Guideline Credit Exception:   Please provide complete Operating Agreement documents with all the pages for [Redact] and [Redact].       Reviewer Comment (2025-07-28): Exception cleared receiver Operating Agreement for borrowing entity.


Buyer Comment (2025-07-22): Complete Operarting Agreement including all agreements for [Redact] have been uploaded; please waive condition for [Redact], borrower took vesting and signed with [Redact], [Redact] operating agreement should not be required to provide.
 07/28/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9222219 [Redact]   34201936     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Assets provided and used are #[Redact], #[Redact], #[Redact] and earnest money of [Redact] totaling [Redact]. The 1008 in file states verified assets total [Redact]. Funds to close, including fees paid outside of closing and earnest money, total [Redact].
.		       Reviewer Comment (2025-07-30): Excepiton cleared, statement balance as of [Redact] [Redact]


Reviewer Comment (2025-07-28): Total required for this transaction per the final HUD [Redact] + [Redact] (EMD) + [Redact] (appraisal) [Redact] (hazard = [Redact] - [Redact] (acct [Redact]) - [Redact] (acct [Redact]) - [Redact] (acct [Redact]) = [Redact] short of verifying assets.


Buyer Comment (2025-07-22): Cash from borrower per final SS [Redact], EMD of [Redact] already wired [Redact]. Total assets remaining as of [Redact] & [Redact] are [Redact]
 07/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9222219 [Redact]   34201937     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Missing for the borrowing entity       Reviewer Comment (2025-07-30): Corporate resolution was provided, exception cleared.


Buyer Comment (2025-07-30): The unanimous consent/resolution was included in the original upload, reuploaded. Each owner signed a page


Reviewer Comment (2025-07-28): Guarantor owns 25% and other member owns 72.50% and 10.00%, missing proof the guarantor can bind and make decision on behalf of the borrowing entity


Buyer Comment (2025-07-22): Per UW Operating agreement is not required if we have other documentation showing ownership percentages, document uploaded
 07/30/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9222249 [Redact]   34201957     Credit Credit Miscellaneous Guideline Credit Exception:   1004 appraisal report provided in file is Report dated [Redact] which is post Note Date [Redact].       Reviewer Comment (2025-08-06): Received initial appraisal prior to closing, exception cleared.


Buyer Comment (2025-08-05): hello please see below appraisals


Reviewer Comment (2025-08-04): The same appraisal was provided. Missing the appraisal with the report date prior to the note date.


Buyer Comment (2025-07-30): see appraisal thank you [Redact]


Reviewer Comment (2025-07-29): Missing the original appraisal prior to the updated version


Buyer Comment (2025-07-29): Our appraisal was only revised date of valuation on report is date as [Redact] see attached again please :) thank u


Buyer Comment (2025-07-29): Our appraisal was only revised date of valuation on report is date as [Redact]
 08/06/2025     1 C A C A C A C A C A   [Redact] Investment Purchase   C A C A     A A   N/A No
[Redact] 9222192 [Redact]   34201959     Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   Missing ownership confirmation of non-borrowing entity business assets being used for closing, #[Redact].       Reviewer Comment (2025-08-06): IRS letter provided


Buyer Comment (2025-08-04): please see the uploaded docs
 08/06/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9222049 [Redact]   34201968     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Missing Certificate of Good Standing.       Reviewer Comment (2025-08-11): Provided


Buyer Comment (2025-08-07): please see the upl document


Reviewer Comment (2025-08-05): Trailing doc is not for our borrowing entity.


Buyer Comment (2025-08-01): Please see the uploaded document
 08/11/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Rate/Term   C A C A     A A   N/A No
[Redact] 9222169 [Redact]   34201976     Property Valuation Valuation Issue Valuation The desk review has a effective date that is other than what the appraisal effective date is. The desk review should have the same effective date as the appraisal   The CDA has an effective date of [Redact] with an appraisal effective date of [Redact].       Reviewer Comment (2025-08-05): Received CDA, exception cleared.


Buyer Comment (2025-08-01): uploaded CDA with [Redact] effective date
 08/05/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     C A   N/A No
[Redact] 9222169 [Redact]   34201977     Credit Credit Miscellaneous Guideline Credit Exception:   Missing ownership percentage confirmation of the guarantor. Bylaws do not reflect this.       Reviewer Comment (2025-08-05): Received ownership of guarantors, exception cleared.


Buyer Comment (2025-08-01): uploaded shareholder list
 08/05/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C A C A     C A   N/A No
[Redact] 9140857 [Redact]   34270378     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. File contains evidence appraisal report provided is an updated report. Delivery confirmations dated earlier than report date of report located in file. Lender to provide all previous appraisal reports/updates.       Buyer Comment (2025-05-15): Lender acknowledged non material EV2


Reviewer Comment (2025-05-15): Received Appraisal transfer Letter, however File available appraisal report date of [Redact]. where as appraisal delivery date was [Redact] which is prior to appraisal report date. Require original Appraisal for review which was sent on [Redact]. Exception Remains.


Buyer Comment (2025-05-14): Transfer Letter - Per Lender " Loan submitted after appraisal completed. Inspection date [Redact] but loan not submitted for loan approval until [Redact] and previous lender transferred appraisal to FundLoans [Redact]. Appraisal submitted at time of loan submission signed and dated by appraiser [Redact] based on amended appraisal original lender requested so only have amended appraisal that was submitted at time of loan submission and amended appraisal we requested and transfer letter"
     05/15/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9140854 [Redact]   34270384     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided   Tax Cert D0505 reflects taxes are TBD. D0518 reflects taxes are [Redact]/year and the actual taxes used to qualify are [Redact]/year.  Need updated Tax Cert to verify monthly tax expenses.       Reviewer Comment (2025-05-15): Tax cert available with Tax rate 1.178445%. Exception Cleared


Buyer Comment (2025-05-14): Per Lender: [Redact] purchase, taxes don't follow property. Calculated property tax: [Redact] x 1.178445% (tax rate) = [Redact]/12= [Redact]
 05/15/2025     1 C A C A C A C A C A   [Redact] Primary Purchase   C A C A A A A A Non QM Non QM No
[Redact] 9140851 [Redact]   34270385     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. File contains evidence appraisal report provided is an updated report. Delivery confirmations dated earlier than report date of report located in file. Lender to provide all previous appraisal reports/updates.       Reviewer Comment (2025-05-15): Received Original Appraisal. Exception Cleared


Buyer Comment (2025-05-14): Original appraisal report
 05/15/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9140851 [Redact]   34270386     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. SECONDARY - File contains evidence appraisal report provided is an updated report. Delivery confirmations dated earlier than report date of report located in file. Lender to provide all previous appraisal reports/updates.       Reviewer Comment (2025-05-15): Received Original Appraisal. Exception Cleared


Buyer Comment (2025-05-14): Original appraisal report
 05/15/2025     1 B A B A B A B A B A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9140851 [Redact]   34270387     Compliance Compliance Federal Compliance GSE Fannie Mae 2014 - 3% Points and Fees Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]). This is an EV2 informational exception and may b waived.       Buyer Comment (2025-05-12): Acknowledged non material
     05/12/2025 2 B B B B B B B B B B   [Redact] Primary Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A C B A A Non QM Non QM Yes
[Redact] 9140851 [Redact]   34270390     Compliance Compliance Federal Compliance TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date Truth in Lending Act:  Subject loan transaction disbursed on [Redact], prior to three (3) business days from transaction date of [Redact]. Subject loan transaction disbursed on [Redact] per final CD provided.       Reviewer Comment (2025-05-14): PCCD received with disbursement date [Redact]. exception cleared.


Buyer Comment (2025-05-13): PCCD
 05/14/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form C B C A C B A A Non QM Non QM Yes
[Redact] 9140851 [Redact]   34270392     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - Missing Insurance Verification document to verify additional expenses of [Redact]. Tax & HOA verification present in file. Need annual policy amount.       Reviewer Comment (2025-05-16): 1003 and 1008 provided,


Buyer Comment (2025-05-16): Corrected 1003 and 1008 attached removing sold REO from DTI


Reviewer Comment (2025-05-15): Received Document confirm property [Redact] has bee sol, however lender Included PITIA in Qualifying DTI require updated 1003/1008 without property being included in DTI. Variance is more than 2%. Exception Remains


Buyer Comment (2025-05-14): REO Sold
 05/16/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9140851 [Redact]   34270393     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Total cash-out discrepancy.   Cash-out exceeds the guideline limit of [Redact] for loans with a LTV > 60%.       Reviewer Comment (2025-05-16): [Redact] verified we can use the matrix provided that is dated [Redact]. Cleared.


Buyer Comment (2025-05-14): Lender's response: Loan approved [Redact] using attached Matrix allowing higher cash out which was last matrix prior to [Redact] revision. Please clear condition.
 05/16/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C B C A C B A A Non QM Non QM No
[Redact] 9140853 [Redact]   34270398     Credit Insurance Insurance Analysis Insurance Insurance address does not match Note address.   Hazard insurance and RCE document property address shows [Redact] whereas as per Note its [Redact] hence require updated Hazard insurance with address corrected.       Reviewer Comment (2025-05-22): Updated HOI provided.


Reviewer Comment (2025-05-21): Received Primary Unit HOI policy with RCE along with updated 1008/1003 with change in HOI monthly amount of [Redact] which includes Primary Unit HOI and other Additional Unit HOI Policy. Lender to confirm Policy with address "[Redact]" is for additional Unit as it address is not match with Note document. Additionally Require Updated PCCD, first payment letter and escrow disclosure with as HOI amount increased. DTI is more than 2% variance. Exception Remains


Buyer Comment (2025-05-20): Replacement cost


Buyer Comment (2025-05-20): 1008


Buyer Comment (2025-05-20): 1003


Buyer Comment (2025-05-20): per lender: Insurance and RCE with correct address attached. Please note borrower has separate policy on ADU and that was the insurance you obtained originally; therefore corrected 1008 and 1003 attached including both insurance premiums in DTI.
 05/22/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C A C A A A A A Non QM Non QM No
[Redact] 9140853 [Redact]   34270399     Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.         Reviewer Comment (2025-05-08): Sufficient Cure Provided At Closing
   05/08/2025   1 A A A A A A A A A A   [Redact] Primary Refinance - Cash-out - Other Final CD evidences Cure C A C A A A A A Non QM Non QM Yes
[Redact] 9140855 [Redact]   34270404     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. File contains evidence appraisal report provided is an updated report. Delivery confirmations dated earlier than report date of report located in file. Lender to provide all previous appraisal reports/updates. Appraisal effective date [Redact] and report date [Redact]-1st appraisal. Appraisal receipt [Redact] with waiver       Buyer Comment (2025-05-13): Email evidence of delivery dated [Redact] in file. Acknowledged as non-material.
     05/13/2025 2 B B B B B B B B B B   [Redact] Primary Purchase   B B A A B B A A Non QM Non QM No
[Redact] 9140856 [Redact]   34270408     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. File contains evidence appraisal report provided is an updated report. Delivery confirmations dated earlier than report date of report located in file. Lender to provide all previous appraisal reports/updates.       Reviewer Comment (2025-05-15): Received Original Appraisal report. Exception Cleared


Buyer Comment (2025-05-14): Original Appraisal report
 05/15/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   B A A A B A A A Non QM Non QM No
[Redact] 9140859 [Redact]   34270414     Compliance Compliance Federal Compliance TRID Defect TRID Initial Closing Disclosure Timing without Waiver TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. Initial Closing Disclosure not provided. CD dated [Redact] is dated the same day as closing.       Reviewer Comment (2025-05-18): [Redact] received [Redact] CD 3 business days prior to consummation.


Buyer Comment (2025-05-16): Please ensure that the PCCD previously provided was added to review. (The previous comment already advised that this was not related to the exception.)  Attached is the initial CD.


Reviewer Comment (2025-05-16): [Redact] Received PCCD; however, exception is related to Initial Closing CD timing. File contains CD dated [Redact]; however, page 03 to 05 is missing. Provide complete copy of CD dated [Redact] along with evidence borrower received the CD 3 days prior to closing.


Buyer Comment (2025-05-15): PCCD  (not related to this exception, however, please have the attached PCCD added to the review and ensure no changes result in new exceptions)
 05/18/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other No Defined Cure C A C A C A A A Non QM Non QM No
[Redact] 9140859 [Redact]   34270415     Credit Credit Credit Documentation Guideline Missing Document: Asset not provided   Require CPA letter for withdrawal of funds from business account [Redact] xxxx[Redact] will not negatively impact the business operation.       Reviewer Comment (2025-05-19): Received Final 1003 Without business asset #[Redact] listed. Exception Cleared.


Buyer Comment (2025-05-16): 1003


Reviewer Comment (2025-05-16): Provide Updated 1003 without Business fund listed in asset section as per FInal 1003 lender used Business funds # [Redact]. Exception Remains


Buyer Comment (2025-05-15): Per Lender: This is a cash out loan and using cash out for reserves; therefore no CPA letter should be required. Please clear condition.
 05/19/2025     1 C A C A C A C A C A   [Redact] Primary Refinance - Cash-out - Other   C A C A C A A A Non QM Non QM No
[Redact] 9140858 [Redact]   34270417     Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Provided Prior to Date Performed ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. File contains evidence appraisal report provided is an updated report. Delivery confirmations dated earlier than report date of report located in file. Lender to provide all previous appraisal reports/updates.       Reviewer Comment (2025-05-16): Received Original Appraisal report. Exception Cleared


Buyer Comment (2025-05-15): Appraisal
 05/16/2025     1 B A B A B A B A B A   [Redact] Primary Purchase   B A A A B A A A Non QM Non QM No
[Redact] 9140861 [Redact]   34270420     Compliance Compliance Federal Compliance GSE FNMA Points and Fees FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2025). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2025) (an overage of [Redact] or [Redact]). EV2 informational       Buyer Comment (2025-05-14): Acknowledged non material
     05/14/2025 2 B B B B B B B B B B   [Redact] Investment Refinance - Cash-out - Other LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings. C B C A B B A A N/A N/A Yes
[Redact] 9140861 [Redact]   34270421     Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. - For property [Redact]- Provide the lender's calculation for the borrower's PITIA for the primary address. The 1003 is showing a PITI as [Redact] and the statement provided shows the PITI as [Redact].       Reviewer Comment (2025-05-15): Received Note document Evidencing PITIA [Redact]. Exception Cleared


Buyer Comment (2025-05-15): Taxes for [Redact]


Buyer Comment (2025-05-15): CD for [Redact]


Buyer Comment (2025-05-15): Per Lender: [Redact] refinanced primary and a copy of the attached note shows P&I [Redact]. I also attached copy of final settlement statement and tax cert verify property taxes [Redact] as shown on 1008 and you should already have appraisal that verifies HOA [Redact] and HOI that verifies [Redact] also on the 1008. Please clear condition.
 05/15/2025     1 C A C A C A C A C A   [Redact] Investment Refinance - Cash-out - Other   C B C A B B A A N/A N/A No