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| Exception Grades | |||||||||||||||||||||||||||||||||||||||||||||||
| Run Date - 3/18/2026 11:58:18 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 |
| [Redacted] | [Redacted] | [Redacted] | OBX2026INV20500 | [Redacted] | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Borrower [redacted] YTD Base pay of $[redacted] from WVOE does not support the monthly average income. Require explanation along with supporting documents to show borrower is making base pay of $[redacted]. | Reviewer Comment (2025-10-16): Income verified through
[redacted] on the DU. Buyer Comment (2025-10-14): [redacted] findings for WVOE. |
10/16/2025 | 1 | C | A | C | A | C | A | C | A | C | A | NC | Investment | Purchase | C | A | C | A | A | A | A | A | N/A | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | OBX2026INV20003 | [Redacted] | Credit | Credit | Credit Documentation | Guideline | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Document primary housing amount for qualifying / ratio purpose. | Reviewer Comment (2025-10-31): We have the lease that was
converted to [redacted] reflect $[redacted]. Seller provided the
converter that converts to
$[redacted]. Reviewer Comment (2025-10-30): Agreed but the exception pertains more to the obligation disclosed on [redacted] that rent is [redacted] per month We should have a copy of lease or something confirming the rent obligation is [redacted] and not [redacted] (such as copy of lease) as all obligations should be confirmed that affect DTI. Buyer Comment (2025-10-30): Please see [redacted] requirement VOR is required for a manual underwritten loans Buyer Comment (2025-10-30): GUIDELINE [redacted] REFERENCED IS FOR FIRST-TIME HOMEBUYERS. OUR BORROWER IS NOT A FIRST-TIME HOMEBUYER. Reviewer Comment (2025-10-24): As per guide " For Loan Product Advisor to consider a Borrower's rent payment history in the credit assessment. Obtain a verification report of the depository account(s) from which the rent payments are made" so Verification of Rent required. exception remains. Buyer Comment (2025-10-24): [redacted] guidelines attached stating payment history not required with acceptable LP findings & sufficient credit. |
10/31/2025 | 1 | C | A | C | A | C | A | C | A | C | A | NC | Investment | Purchase | C | A | C | A | A | A | A | A | N/A | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | OBX2026INV20005 | [Redacted] | Compliance | Compliance | Federal Compliance | ECOA | ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation | ECOA Valuations Rule ([redacted]): Creditor did not provide a copy of each valuation to applicant [redacted] business days prior to consummation. | Creditor did not provide a copy of each valuation to applicant [redacted] business days prior to consummation. | Buyer Comment (2025-10-10): Borrower acknowledged receipt
[redacted]. |
10/10/2025 | 2 | B | B | B | B | B | B | B | B | B | B | NC | Investment | Purchase | C | B | C | A | B | B | C | A | N/A | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | OBX2026INV20005 | [Redacted] | Credit | Insurance | Insurance Analysis | Insurance | Insurance address does not match Note address. | per Note/Security Instrument/Title, subject address is [redacted]. Per Insurance binder, subject address [redacted]. Required insurance binder with correct address, [redacted]. | Reviewer Comment (2025-10-24): Noted Hazard policy with correct
address. exception cleared Buyer Comment (2025-10-24): Updated HOI with corrected address |
10/24/2025 | 1 | C | A | C | A | C | A | C | A | C | A | NC | Investment | Purchase | C | B | C | A | B | B | C | A | N/A | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | OBX2026INV20005 | [Redacted] | Property | Appraisal Reconciliation | Value Discrepancy | Appraisal Reconciliation | Loan is missing secondary valuation product required for securitization. | UCDP document LCA score is missing. Required secondary valuation (CDA) product for securitization. | Reviewer Comment (2025-11-18): CDA is provided in file for
subject property. Exception cleared Buyer Comment (2025-11-14): [redacted] |
11/18/2025 | 1 | C | A | C | A | C | A | C | A | C | A | NC | Investment | Purchase | C | B | C | A | B | B | C | A | N/A | No |