|
Client Name:
|
||||
|
Client Project Name:
|
SEMT 2025-12
|
|||
|
Start - End Dates:
|
6/29/2025 - 10/23/2025
|
|||
|
Deal Loan Count:
|
226
|
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|
Waived Conditions Summary
|
||||
|
Review Scope
|
Category
|
Code
|
Description
|
Count
|
|
Credit
|
Terms/Guidelines
|
CRDTER109
|
Cash Out Amount Exceeds Guidelines
|
1
|
|
Credit
|
Terms/Guidelines
|
CRDTER3122
|
Loan documents do not meet guideline requirements
|
2
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH118
|
Mortgage/rental lates exceed guidelines
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH150
|
Tradelines do not meet guidelines
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH193
|
Length of mortgage/rental history in file does not meet guideline requirement
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH2416
|
Questionable factors on credit report
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH3000
|
# of Tradelines Does Not Meet Guideline Requirements
|
1
|
|
Credit
|
DTI
|
CRDDTI187
|
Debt Ratio > xxx%
|
1
|
|
Credit
|
Income/Employment
|
CRDINC2408
|
Income verification does not meet guidelines
|
2
|
|
Credit
|
Income/Employment
|
CRDINC2488
|
Verbal verification of employment missing
|
1
|
|
Credit
|
Income/Employment
|
CRDINC2496
|
Verbal verification of employment completed outside the stated requirements and/or after closing/funding
|
4
|
|
Credit
|
Income/Employment
|
CRDINC3204
|
Income Documentation Missing
|
1
|
|
Credit
|
Income/Employment
|
CRDINC3258
|
Missing Profit and Loss statement for one or more xxx borrowers
|
2
|
|
Credit
|
Income/Employment
|
CRDINC888
|
Income Amount is Unsupported by Documentation in File
|
1
|
|
Credit
|
Insurance
|
CRDINSR5351
|
Insurance Effective date is greater than the transaction date
|
4
|
|
Credit
|
Application
|
CRDAPP130
|
Application is incomplete
|
1
|
|
Credit
|
Application
|
CRDAPP3822
|
Missing or incomplete documentation related to citizenship/residency
|
1
|
|
Credit
|
Assets
|
CRDAST205
|
Insufficient Funds to Close
|
1
|
|
Credit
|
Assets
|
CRDAST2670
|
Asset documentation is insufficient per guideline requirements
|
2
|
|
Credit
|
Assets
|
CRDAST3078
|
Insufficient # of months cash reserves for PITI per guideline requirements
|
3
|
|
Property Valuations
|
Appraisal
|
PRVAAPPR101
|
Appraisal incomplete (missing map, layout, pages, etc)
|
1
|
|
Property Valuations
|
Appraisal
|
PRVAAPPR3116
|
Missing updated valuation
|
1
|
|
Compliance
|
Ability to Repay/Qualified Mortgage
|
CMPATRQM3220
|
TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM
status.
|
1
|
|
Compliance
|
Right of Rescission
|
CMPROR1909
|
Incorrect ROR Form Used - H8 Form Used in Refinance With Original Creditor
|
12
|
|
Compliance
|
RESPA
|
CMPRESPA2700
|
RESPA - List of homeowners counseling organizations not provided w/in xxx days of application
|
1
|
|
Total
|
48
|
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|
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it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited.
|
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