MORGAN STANLEY CAPITAL I INC ABS-15G

Exhibit 99.4 - Schedule 2

Client Name:
Client Project Name:		MSRM 2026 May Securitization
Start - End Dates:		3/2/2022 - 12/31/2024
Deal Loan Count:		158

Conditions Report 2.0

Loans in Report:
Loans with Conditions:		72

24 - Total Active Conditions
	24 - Non-Material Conditions
		21 - Credit Review Scope
			2 - Category: Ability to Repay/Qualified Mortgage
			5 - Category: Assets
			6 - Category: Credit/Mtg History
			1 - Category: Income/Employment
			5 - Category: LTV/CLTV
			2 - Category: Terms/Guidelines
		3 - Property Valuations Review Scope
			1 - Category: FEMA
			2 - Category: Property
99 - Total Satisfied Conditions

		55 - Credit Review Scope
			5 - Category: Application
			8 - Category: Assets
			5 - Category: Credit/Mtg History
			2 - Category: DTI
			7 - Category: Income/Employment
			3 - Category: Insurance
			17 - Category: Legal Documents
			2 - Category: Terms/Guidelines
			6 - Category: Title
		13 - Property Valuations Review Scope
			11 - Category: Appraisal
			1 - Category: FEMA
			1 - Category: Property
		31 - Compliance Review Scope
			5 - Category: Ability to Repay/Qualified Mortgage
			4 - Category: Documentation
			22 - Category: TILA/RESPA Integrated Disclosure
7 - Total Waived Conditions

		5 - Credit Review Scope
			1 - Category: Assets
			1 - Category: Credit/Mtg History
			1 - Category: Income/Employment
			2 - Category: LTV/CLTV
		2 - Property Valuations Review Scope
			2 - Category: Appraisal

©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited.

Client Name:

Client Project Name:

MSRM 2026 May Securitization

Start - End Dates:

3/2/2022 - 12/31/2024

Deal Loan Count:

158

Conditions Report 2.0

Loans in Report:

Loans with Conditions:

Loan Number

Original Principal Balance

State

Initial Lender ATR/QM Status

Loan Level ATR/QM Status

Initial Securitization Overall Loan Grade

Final Securitization Overall Loan Grade

Initial Securitization Credit Loan Grade

Final Securitization Credit Loan Grade

Initial Securitization Property Valuations Loan Grade

Final Securitization Property Valuations Loan Grade

Initial Securitization Compliance Loan Grade

Final Securitization Compliance Loan Grade

Initial S&P Overall Loan Grade

Final S&P Overall Loan Grade

Initial S&P Credit Loan Grade

Final S&P Credit Loan Grade

Initial S&P Property Valuations Loan Grade

Final S&P Property Valuations Loan Grade

Initial S&P Compliance Loan Grade

Final S&P Compliance Loan Grade

Condition Category

Condition Sub Category

Condition Status

Initial Securitization Condition Grade

Final Securitization Condition Grade

Initial S&P Condition Grade

Final S&P Condition Grade

Condition Code

Condition Description

Condition Material Indicator

Initial Comments

Client/Seller Response Comments

Conclusion Comments

TRID Error Type

Cure Method

Compensating Factors

Loan Status

10104161

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Satisfied

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Unable to verify 6 months reserve requirement

(No Data)

Borrower legally changed first name, documentation was included with the initial file. This exception is cleared.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of 71.25% is 8.75% below the 80% LTV allowed.

CFCFS1744: DTI below guideline requirement
- XXX Comments: DSCR of 1.44 is above minimum by .44.

Complete

10104161

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Satisfied

CRDCRMH189

Missing credit report

The credit report is missing

(No Data)

Document provided to cure.

(No Data)

Not Applicable

Complete

10104161

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Insurance

Satisfied

CRDINSR2400

Missing Flood Certification Document

The flood certification is missing

(No Data)

Flood Cert provided to cure.

(No Data)

Not Applicable

Complete

10104161

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Insurance

Satisfied

CRDINSR848

Missing Hazard Insurance

Missing homeowner insurance policy

(No Data)

Haz insurance provided to cure.

(No Data)

Not Applicable

Complete

10104161

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

A secondary valuation review product is missing

(No Data)

CDA provided to cure.

(No Data)

Not Applicable

Complete

10104167

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: The borrower has 42.86 months in reserves

CFCFS2860: Good credit history
- XXX Comments: 0x30x32 - housing history

Complete

10026390

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1737: LTV below guideline requirements
- XXX Comments:  80% LTV is below the 90% max.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  5.78 months of reserves are above the  required 0.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  790 FICO score is above the 620 min.

Complete

10110804

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  759 mid-score per CBR. 600 minimum.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  50% LTV per review; 75% LTV is maximum allowed per guidelines.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  73 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  99.90 months of reserves in file. 3 required.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  393 months of 0x30 mortgage history per CBR. 12 months required.

Complete

10110824

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Provide final signed HUD.File contained Estimated HUD with print date of XXX.

XXX Client uploaded final HUD.

2-10-26 XXX reviewed HUD and updated data. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX , 67.40 months. 0 months required.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  3 years of mortgage history if above the required 1.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  687 FICO score is above the 660 min.

Complete

10110824

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

Missing third party valuation to support original appraised value.Per Guidelines (sec 1.9.1.1.4, page 73) All transferred appraisals require a secondary valuation: CDA within 10% of appraised value or an AVM that supports value with a satisfactory FSD score and confidence score.

XXX Client uploaded CDA.

2-10-26 XXX reviewed CDA and updated data. Exception satisfied.

(No Data)

Not Applicable

Complete

10026396

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  600 months of 0x30 consumer credit history per CBR.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Borrower has 72 months on-time housing history with no delinquencies.  The guidelines require a 12 month review.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX , 1.72 months.  No reserves are required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Verified credit score 670.  Guideline minimum 660.

Complete

10026401

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP155

Application Missing

1003 missing.

1-20-26 Client uploaded 1003.

1-21-26 XXX reviewed 1003 and updated data points. Exception satisfied.

(No Data)

Not Applicable

CFCFS2860: Good credit history
- XXX Comments:  No late payments on credit report.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX , 118.36 months. 3 months required

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  785 FICO score is above the 700 min.

Complete

10110810

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL1817

Final HUD-1 is incomplete or illegible

Missing the last page of the HUD1, page 3 of 3, which confirms the amount of cash back to the borrower.

12-9-25 XXX reviewed final HUD and updated data points. Exception satisfied.

12-9-25 . Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  778 FICO score is above the 700 min.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  37.63 months of reserves are above the required 6.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  13 years of mortgage history is above the required 1.

Complete

10026424

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Satisfied

CRDTER4238

Business entity does not meet guidelines

Missing Operating agreement for XXX XXX XXX or amendment with name change from XXX XXX XXX to XXX XXXV . Loan closed in the name of XXX XXX XXX.

XXX Client responded: Please attached for OA again was attached in credit file thank u :)XXX Client replied: Correct operating agreement attached :)

XXX XXX reviewed Operating agreement which is for XXX XXX- loan closed in name of XXX XXX Missing amended operating agreement reflecting the correct entity name. Exception remains. 1-21-26 XXX reviewed Corrected operating agreement. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX , 34.61 months; 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 706 is 6 points above minimum program requirement of 700.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Borrowers have0x30x99 months mortgage payment history exceeding guideline requirement of 1x30x12.

Complete

10026425

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 721 is 21 points above minimum program requirement of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX, 16.11 months, 3 months required.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has 0x30 for 42 months all tradelines.

Complete

10110870

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS2860: Good credit history
- XXX Comments:  No late payments on credit report

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  86 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  11.56 months of reserves are above the required 3.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  733 FICO score is above the 700 min.

Complete

10110774

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3590

TRID - At least one LE was delivered on or after the date that a CD was delivered

LE issued XXX is after issuance of initial CD dated XXX .

XXX -Provide attestation as to the Clerical Daitng Error on CD with issue date XXX to be replaced by "correct CD dated and signed XXX for second review.XXX-Sent for second review-CN-1878XXX -Per second review; an attestation letter to be considered for cure should start with "We / I attest". OR Provide E-summary tracking, all pages for the CD issued -XXX aka XXX - in question for review. CN-1878XXX -Client provided corrected attestation letter, sent for second review. CN-1878.XXX Per second review, satisfied. CN-1878.

3.2.26- Satisfied. CN-1878.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX , 14.98 months. 12 months reserves required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV 70%.  Guideline maximum 75%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Verified credit score 726.  Guideline minimum 700.

Complete

10110774

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3670

TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation

Zero tolerance fee for $780.00 due to increase in appraisal fee and addition of 2nd appraisal fee. No documentation provided disclosing increase and addition. Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

2.24.26-Client provided LOX,PCCD, Copy of label & refund check. Satisfied.

2.24.26-Satisfied.

(No Data)

Not Applicable

Complete

10026485

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Satisfied

CRDAST206

Asset Amounts Are Unsupported by Documentation in File

Missing statement that confirms borrowers ownership in asset account XXX at XXX XXX XXX. Current printout only lists non borrowing spouse name, no indication of business held assets. Unable to consider assets held solely in non borrowing spouses name, per guidelines (this would be considered a gift).

XXX Client replied: See uploaded Operating Agreement and bank statement from XXX XXX

1-27-26 XXX reviewed bank statement and operating statement. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves: $XXX  or 73.66 months of PITIA. 0 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of740 is above the required 700

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal use of credit with credit usage ratio of 37%

Complete

10026489

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of737 is above the required 700

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal use of credit with credit usage ratio of 9%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves: $XXX or 118.44 months of PITIA. 3 months required.

Complete

10026503

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  715 mid-score per CBR. 700 minimum.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  82.71 months of reserves in file. 9 months required.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  113 months of 0x30 consumer credit history per CBR.

Complete

10110977

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  812 mid-score per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  139 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  99.67 months of reserves in file.

Client Complete

10026560

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has owned current residence for 5 years with current mortgage having 25 months reviewed with 0 lates.

CFCFS5269: Minimal use of credit
- XXX Comments:  11% consumer credit utilization in file

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  90.9 months piti reserves. 3 required.

Complete

10026571

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves= $XXX  26.18 months. 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 734 is above the required 660.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 52% is below the maximum allowable of 70%.

Complete

10026614

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  681 FICO score is above the 660 min.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  3 years of mortgage history is above the 1 required.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  11.32 months reserves are above the required 0.

Complete

10026623

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Active

CRDAST2354

Asset Verification In File is Incomplete Per Requirements

All assets provided are business accounts not from the borrowing entity and 100% of funds were used to support cash to close/reserves. Borrower's ownership is 33.30% per docs in file and there is a 100% access letter in file. XXX deems non-material/non-fatal to lending decision as co-owners of two asset accounts are also members of the borrowing entity. Compensating factors: Cash reserves 56.02 months/6 required, 80% LTV/85% max and credit score of 800/620 minimum.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX  56.02 months; 6 months required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 80%; guidelines allow 85%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 800 is above minimum program requirement of 620.

Complete

10026624

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

LTV/CLTV

Active

CRDLTV5736

LTV Exceeds Guideline Requirement by less than 5%

75% maximum LTV due to loan being a Cash-out loan because borrower paid off 3 liens on Title at closing that were placed on 4 different properties for borrowers. Lender approved file as a rate/term refinance, guidelines require this to be a cash out as the underlying liens were put onto 4 different properties, blanket liens.

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  75 months of 0x30 mortgage history per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  127 months of 0x30 consumer credit history per CBR.

CFCFS2854: Significant time in profession
- XXX Comments:  25.5 years working in the XXX industry.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  660 mid-score per CBR.

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  6.9 years employed with XXX

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  26.58 months of reserves in file; 3 months required.

Complete

10026626

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  47.56 months of reserves exceeds guideline requirements of 6 months.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 8.51% is below the minimum program requirements of 50%

CFCFS1737: LTV below guideline requirements
- XXX Comments:  79.98% LTV for Subject Property is below guideline max LTV of 80%

Complete

10026627

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  75 months of 0x30 mortgage credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  33.47 months of reserves in file.

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  6.9 years employed with XXX

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  660 mid-score per CBR.

Complete

10026629

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  6.9 years employed with XXX

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  45.97 months of reserves in file.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  660 mid-score per CBR.

CFCFS2854: Significant time in profession
- XXX Comments:  25.5 years employed in the XXX industry.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  75 months of 0x30 mortgage history per CBR.

Complete

10026636

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX , 21.64 months; 6 months required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 85%; guidelines allow 90%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 703 is above minimum program requirement of 680.

Complete

10026638

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  721 FICO score is above the 700 min.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX , 6.17 months. 3 months required.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  2 years of mortgage history is above the required 1.

Complete

10110920

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS2860: Good credit history
- XXX Comments:  Borrower has 0x30 for 48 months.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX , 95.19 months; 3 months required.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Borrowers have0x30x14 months mortgage payment history exceeding guideline requirement of 1x30x12.

Complete

10110927

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Property

Active

PRVAPROP177

Property Issues Indicated

Property does not meet minimum square footage requirements of 700 square feet, property has XXX square feet. XXX states this is non material as comparable properties are similar square footage with same floor plan and market resistance not found. Borrower also has $98,557.11 post closing reserves, 112.19 months with 3 required, and credit score of 733/700 minimum.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX , 112.19 Months; 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 733 is 33 points above minimum program requirement of 700.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has 0x30 for 72 months.

Complete

10110917

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 81.09 months PITI reserve exceeds required reserves of 3 months.

CFCFS1746: Significant housing expense reduction
- XXX Comments:  Subject transactions new payment of $1,056.77 represents a significant housing expense reduction of $570.53 or 35.06% from the previous PITI payment of $1,627.30.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 74.50 is below guideline requirement max of 75.

Complete

10110838

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Verified credit score 746.  Guideline minimum 700.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has been in current residence 6 years.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX or 51.82 months. 12 months reserves required.

Complete

10110771

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  16 months of 0x30 rental history per VOR in file.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  25.77 months of reserves in file.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  685 qualifying credit score per CBR.

Complete

10110885

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of795 is above the required 600

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 54.69 is below the maximum allowable of 80

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal use of credit with credit usage ratio of 1%

Complete

10110813

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Borrowers Fico Score of 795 is above minimum Fico Score of 600.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  45.26% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  83.92 months of reserves exceeds guideline requirements of 0 months.

Complete

10110851

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  Borrower is 0*30 consumer credit history past 100 months

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score is 686 and minimum required is 640

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 64.76% and maximum allowed is 70%.

Complete

10110926

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  Borrower is 0*30 consumer credit history past 60 months

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 686 is above the required 660.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  70.59 months piti reserves in file. 3 required.

Complete

10110890

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves: $XXX  or 42.92 months of PITIA. 6 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of756 is above the required 740

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal use of credit with credit usage ratio of 5%

Complete

10110910

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 733 is above the required 700.

CFCFS1736: Significant time at current residence
- XXX Comments:  Significant time owning current residence of 4 years.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves= $XXX  87.37 months. 3 months required.

Complete

10110866

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  726 mid-score per CBR. 660 minimum.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  0x30 consumer credit history since 1/2020 per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  48.04 months of reserves in file. 3 required.

Complete

10110823

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX  9.81 months. 0 months required

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Borrowers Fico Score of 768 is 148 points above minimum Fico Score of 620.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  52.98% LTV for Subject Property is below guideline max LTV of 85%

Complete

10110873

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median FICO 702 > 102 points above guideline program minimum of 600.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  27.34 months of reserves exceeds guideline requirements of 3 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  42.58% LTV for Subject Property is below guideline max LTV of 75%

Complete

10110888

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median FICO 712 is above guideline program minimum of 660.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  65% LTV for Subject Property is below guideline max LTV of 75%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  60.05 months of reserves exceeds guideline requirements of 9 months.

Complete

10110858

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  682 FICO score is above the 680 min.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  1.53 months of reserves are above the required 0.

CFCFS2860: Good credit history
- XXX Comments:  No late payments in last 4 years on credit report.

Complete

10110837

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 72.52 is below guideline requirement max of 75.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 731 exceeds guideline requirement of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 13.08 months PITI reserve exceeds required reserves of ($1,001.63 x 6 = $6,009.78).

Complete

10110829

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Borrowers Fico Score of 703 is above minimum Fico Score of 600.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  57.58% LTV for Subject Property is below guideline max LTV of 85%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX , 3.05 months. 0 months required.

Complete

10110941

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 45.78%; guidelines allows 70%.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves= $XXX, 150.69 months. 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 696 is above the required 660.

Complete

10110930

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  40.46 months of reserves exceeds guideline requirements of 0 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  63.85% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Borrowers Fico Score of 707 is 87 points above minimum Fico Score of 620.

Complete

10110904

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Assets

Satisfied

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Missing 3 months of required reserves per guidelines or $8,326.68. Missing HUD to verify cash out is sufficient to cover.

2-10-26 Client uploaded final HUD.

2-11-26 XXX reviewed HUD and updated data. Exception satisfied.

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  58 months with 0x30 Mortgage payment history exceeds guidelines of 12 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median FICO 778 > 178 points above guideline program minimum of 600.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  38.72% LTV for Subject Property is below guideline max LTV of 75%

Complete

10110904

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL2420

Missing HUD-1 (Final and Estimated)

Missing Estimated or Final HUD-1 supporting cash back to borrower of XXX

2-10-26 Client uploaded final HUD>

2-11-26 XXX reviewed HUD and updated data. Exception satisfied.

(No Data)

Not Applicable

Complete

10110812

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- XXX Comments:  21 years owing primary residence.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  230 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  94.83 months of reserves in file. 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  799 qualifying credit score per CBR. 660 minimum.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  13 months on primary and 31 months on subject at 0x30 mortgage history per CBR. 12 months required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  68.97% LTV per review; 75% LTV is maximum allowed per guidelines.

Complete

10110908

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 70%; guidelines allow 75%.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX , 102.64 months; 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 705 is 5 points above minimum program requirement of 700.

Complete

10110846

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 32.26% is below the maximum allowable of 70%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves: $XXX or 108.99 months of PITIA. 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of672 is above the required 660

Complete

10110777

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX , 15.7 months. 12 months required.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 18% is below the guideline maximum of 50%.

CFCFS5269: Minimal use of credit
- XXX Comments:  The borrower has no monthly revolving debt obligation.

Complete

10110880

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Income/Employment

Satisfied

CRDINC3204

Income Documentation Missing

Missing leases on all 3 units to finalize DSCR calculation. Lender used income of $6,395 and market rents were $7,900.

2-10-26 Client uploaded leases.

2-11-26 XXX reviewed leases and updated comments. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX  or 34.58 months PITI reserve exceeds required reserves of 3 months.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage payment history of 29 months exceeds the required 12 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 751 exceeds guideline requirement of 700.

Complete

10110880

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Title

Satisfied

CRDTIL865

Title incomplete

Missing full title report - missing schedule B and C.

XXX Client uploaded title.

2-11-26 XXX reviewed title which includes schedule B & C. Exception satisfied.

(No Data)

Not Applicable

Complete

10110921

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  24 months of 0x30 mortgage credit history per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  0x30 consumer credit history since XXX per CBR.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  734 qualifying credit score per CBR.

Complete

10110877

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 70.18 is below the maximum allowable of 85

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves: $XXX or 59.04 months of PITIA. 0 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of734 is above the required 700

Complete

10110808

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  26.14 months of reserves exceeds guideline requirements of 9 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median FICO 719  > 19  points above guideline program minimum of 700.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  47 months with 0x30 Mortgage payment history exceeds guidelines of 12 months.

Complete

10110849

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS2860: Good credit history
- XXX Comments:  No late payments on credit report.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  18.46 months reserves are above the required 3.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  758 FICO score is above the 700 min.

Complete

10110868

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Application

Satisfied

CRDAPP130

Application is incomplete

Missing residency status declaration on application.

2-10-26 Client uploaded 1003.

2-11-26 XXX reviewed 1003. Exception satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- XXX Comments:  70% LTV for Subject Property is below guideline max LTV of 75%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median FICO 784 >124 points above guideline program minimum of 660.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  130.92 months of reserves exceeds guideline requirements of 3 months.

Complete

10110968

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2860: Good credit history
- XXX Comments:  No late payments on credit report

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  35.89 months of reserves are above the required 12.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  764 FICO score is above the 680 min.

Complete

10110919

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Satisfied

CRDAST205

Insufficient Funds to Close

Assets: $XXX . Cash To Close $18,550.80. $14,874.98 short cash to close.

2-6-26 Client replied: I have attached the statement that matches final 1003. Borrower has sufficient funds and reserves

2-10-26 XXX reviewed December bank statement and updated data. Exception satisfied.

(No Data)

Not Applicable

CFCFS2860: Good credit history
- XXX Comments:  Borrower has 0x30 for 82 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 758 is above minimum program requirement of 700.

CFCFS1750: High potential for increased earnings
- XXX Comments:  DSCR exceeds required 1 at DSCR: Market rent $1,409 / $882.99 = 1.5957%

Complete

10110919

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Satisfied

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Post Close Assets: $0.00, 0 months; 3 months required or $2,648.97.NOTE: Loan is short funds to close plus reserves. Total funds required $18,550.80 to close + $2,648.97 reserves = $21,199.77. Verification of funds in file $XXX XXX XXX

2-6-26XXX

2-10-26 XXX reviewed December bank statement and updated data. Exception satisfied.

(No Data)

Not Applicable

Complete

10110912

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 752 is above the required 700.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves= $XXX , 14.56 months. 3 months required.

CFCFS2860: Good credit history
- XXX Comments:  Good credit history with 0 lates.

Complete

10110960

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP130

Application is incomplete

Application does not reflect borrowers residency status.

2-11-26 Client uploaded 1003.

2-13-26 XXX reviewed 1003 reflecting US Citizen. Exception satisfied.

(No Data)

Not Applicable

CFCFS2860: Good credit history
- XXX Comments:  No late payments on credit report.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  31.04 months of reserves are above the required 3.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  709 FICO score is above the 700 min.

Complete

10110963

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 64.375%; guidelines allow 75%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 793 is 53 points above minimum program requirement of 740.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX, 77.89 months; 3 months required.

Complete

10110766

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Assets

Active

CRDAST2354

Asset Verification In File is Incomplete Per Requirements

Business checking account used for cash to close, borrower has no personal account to transfer to as required per guidelines (Non-XXX MatrixXXX ).Approved lender Exception in file. XXX deems non-material/non-fatal to lending decision due to compensating factors: CRedit score of 786/620 minimum, LTV 79.99%/90% maximum, and DTI of 35.33%/50% max.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 79.99% is below the maximum allowable of 90%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of786 is above the required 620 based on LTV.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 35.33% is below the maximum allowable 50%.

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal use of credit with credit usage ratio of 0%

Complete

10110766

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Assets

Active

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Short $2,432.94 in cash reserves. Cash reserves verified: $XXX or 2.38 months of PITIA. 3 months required. Total assets verified XXX XXX XXX $XXX - Cash required $119,102.65 (After $10,000 EMD credit) = $XXX Cash reserves. XXX deems non-material/non-fatal to lending decision due to small shortage and compensating factors: Credit score 786/620 minimum, LTV 79.999/90% maximum allowed and DTI of 35.33%/50% max allowed.

(No Data)

Not Applicable

Complete

10110840

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR4789

Appraisal Deficiency

Missing Rental comparable photos. (XXX XXX , XXX XXX XXX , XXX XXX XXX

XXX Client replied: Appraisal attached reflecting XXX XXX XXX pic.

2-13-26 XXX reviewed Appraisal with comp photos. Exception satisfied.

(No Data)

Not Applicable

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrowers have50 months mortgage payment history 0x30. 12 required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 49.859%; guidelines allow 85%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 794 is above minimum program requirement of 600.

Complete

10110806

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  28.46 months of reserves in file.

CFCFS1736: Significant time at current residence
- XXX Comments:  4 years living at primary residence.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  0x30 consumer credit history since XXX per CBR.

Complete

10110953

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 68.966%; guidelines allow 80%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 806 is 66 points above minimum program requirement of 740.

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower only using 2% of available revolving credit.

Complete

10110825

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  4 years of mortgage history is above the 1 required.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  18.2 months of reserves are above the required 3.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  704 FICO score is above the 700 min.

Complete

10110970

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Appraisal

Satisfied

PRVAAPPR4789

Appraisal Deficiency

Missing Transfer letter giving HEM all right to the report and AIR certificate clarifying the independence of the report. (sec 1.9.1.1.4, page 73)

XXX Client replied: uploaded XXX Transfer Letter & AIR Cert.

2-13-26 XXX reviewed docs. Exception satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- XXX Comments:  80% LTV for Subject Property is below guideline max LTV of 85%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median FICO 737 > 117 points above guideline program minimum of 620.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 47.73% is below the minimum program requirements of 50%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets of $XXX , 24.43 months of post close reserves and 3 months required.

Complete

10110970

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

2-9-26 Client uploaded CDA.

2-10-26 XXX reviewed CDA and updated data. Exception satisfied.

(No Data)

Not Applicable

Complete

10110789

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves: $XXX or 44.50 months of PITIA. 0 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of776 is above the required 620

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 30.93 is below the maximum allowable of 80

Complete

10110778

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI 7.2% is below the maximum of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit Score 712 exceeds the minimum of 620

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Reserves $XXX  6.82 months reserves, 6 months required

CFCFS5269: Minimal use of credit
- XXX Comments:  14% of revolving credit utilized

Complete

10110820

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  70% LTV is below the 75% max.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  121.8 months of reserves are above the required 3.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  781 FICO score is above the 660 min.

Complete

10110818

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX , 31.22 months; 9 months required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 60.514%; guidelines allow 75%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 771 is 31 points above minimum program requirement of 740.

Complete

10110925

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 781 is above the required 660.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 70%; guidelines allows 75%.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves= $XXX, 114.24 months. 3 months required.

Complete

10110956

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

Missed exception: Missing third party valuation to support original appraised value.Per Guidelines (sec 1.9.1.1.4, page 73) All transferred appraisals require a secondary valuation: CDA within 10% of appraised value or an AVM that supports value with a satisfactory FSD score and confidence score.

XXX Client uploaded AVM.

2-10-26 XXX reviewed AVM and updated data. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  4.71 months of reserves exceeds guideline requirements of 3 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  73.90% LTV for Subject Property is below guideline max LTV of 75%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Borrowers Fico Score of 742 is above required guideline minimum Fico Score of 700.

Complete

10110956

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

FEMA

Active

PRVAFEMA856

Natural Disaster Area, no subsequent inspection (Public)

No inspection since the FEMA Disaster #XXX XXX - Severe Winter Storm.XXX grades FEMA: Natural Disaster Area, no subsequent inspection (Public) as a nonmaterial B due to the fact that FEMA Public Assistance disasters encompass work eligible for reimbursement through a public assistance grant. These can include: debris removal, emergency protective measures, maintenance of roads and bridges, water control facilities, utilities, parks and recreational facilities. Public Assistance does not indicate that damage has occurred to personal property and does not have a substantive impact on the property.

(No Data)

Not Applicable

Complete

10110764

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal credit usage ratio of 6.118%.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI 37.11% is below the guideline minimum of 50%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 777 is above minimum program requirement of 660.

Complete

10110767

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 680.  Guideline minimum 620

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 17.59% is below the guideline maximum of 50%.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 64% is less than the guideline maximum of 85%

Complete

10110948

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  42.7 months of reserves are above the required 6 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  790 FICO score is above the 740 min.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  64.935% LTV is below the 70% max.

Complete

10110776

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Satisfied

CRDCRMH1805

Debts/obligations not disclosed/accounted for at origination

Missing verification of XXX Bank loan opened XXX for $XXX.Fraud report reflects Active MERS which may be the second HEM loan XXX reflected in credit committee review. NOTE: DTI subject to change.

XXX Client replied: Attached is revised 1003/1008 adding XXX XXX , XXX, XXX to the REO and utilizing $15k rental income for subject property per 1007 ($15k x 75% = $11,250 rental income used). Along with the 1003/1008 Ive also attached the Note proof of HOI & taxes for XXX XXX .

2-27-26 XXX reviewed file and documents uploaded. Additional PITI added to debt at $13,443.74 increasing DTI to 52.82%. Subject loan is a cash out refinance and guidelines offer two methods for rental income: tax returns or lease and evidence of current receipt of lease income within 60 calendar days of the note date. (sec 1.7.5.4.15 rental income). Rental income received pursuant to short term leases (6 months or less) will be subject to scenario review andapproval prior to closing. If acceptable, it will be averaged over the most recent 12-month period, and leases must bein place. DTI increase has caused a new exception as 1007 is not an acceptable method for a refinance per guidelines. This exception is satisfied with DTI exception now active.

(No Data)

Not Applicable

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal credit usage at 10%.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX , 29.37 months; 9 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 788 is 68 points above minimum program requirement of 720.

Complete

10110776

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

DTI

Satisfied

CRDDTI187

Debt Ratio > 50%

DTI is 52.82% which exceeds the max 50%.Updated debt to include PITI for XXX XXX XXX at $13,443.74. Rental income for the subject property XXX XXX is not documented by an acceptable method per guidelines (sec 1.7.5.4.15) and 1007 market rent is not an acceptable method on a refinance.

XXX Client uploaded lease for XXX XXX XXX at $23,000 per month. XXX Client replied: PCE attached for rental receipt.

3-16-26 XXX reviewed Lease for $23,000, however missing evidence of current receipt of lease income within 60 calendar days of the note date. (sec 1.7.5.4.15 rental income) to complete the rental income verification/DTI calculation. Exception remains. 3-18-26 XXX reviewed post close exception for use of income without rent receipt and is using the 1007 at 75% of $15,000 to qualify with DTI of 39.03%. New exception opened for Income documentation not meeting guidelines. DTI exception satisfied.

(No Data)

Not Applicable

Complete

10110776

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Income/Employment

Active

CRDINC150

Income docs do not meet guidelines

Missing evidence of rent receipt for rental income for XXX XXX at $23,000 per month as required per guidelines(sec 1.7.5.4.15). Lender provided an approved post close exception due to lack of rent receipt.XXX deems non-material/non-fatal to lending decision as 1007 was used for rent value which is $15,000 per month which is less than lease amount at $23,000 and the following compensating factors: 29.37 months cash reserves/9 required, credit score of 788/720 minimum, and minimal credit usage at 10%.

(No Data)

Not Applicable

Complete

10110785

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

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.

Status is pending due to missing verification of expenses on XXX XXX ,XXX Loomis, XXX. When status is reached, it is expected to be Non-QM/Lender documented all ATR Underwriting factors.

2-25-26: Client sent copy of property report verifying borrower no longer owns the property.

2-25-26: XXX reviewed copy of property report verifying borrower no longer owns the property. Final status reached, Non-QM/Lender documented all ATR Underwriting factors. Exception satisfied.

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI 31.84% is below the maximum of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 690 exceeds the minimum of 660

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Back $XXX ,  22.11 months reserves,  0 months required

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV 70% exceeds the maximum of 75%

Complete

10110785

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Credit/Mtg History

Satisfied

CRDCRMH149

Missing support docs for VOM/VOR (e.g. cancelled checks)

Missing monthly expenses for XXX XXX. Per 1003, property has $300 in monthly expenses and is owned free and clear.

2-25-26: Client uploaded property report for XXX XXX XXX, XXX,XXX Borrower no longer owns the property.

2-25-26: XXX reviewed property report for XXX XXX XXX XXX, XXX; borrower no longer owns the property. Exception satisfied.

(No Data)

Not Applicable

Complete

10110798

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  130 months of 0x30 mortgage payment history per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  176 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX = 107.76 months of reserves. 0 months required.

CFCFS1736: Significant time at current residence
- XXX Comments:  12 years owning primary residence.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  65% LTV per review; 75% LTV is maximum allowed per guidelines.

Complete

10110802

XXXXXX

(No Data)

ATR/QM: Exempt

Compliance

Documentation

Satisfied

CMPDOC3274

Mortgage/Deed in file is incomplete

Mortgage is missing Notary date.

2-9-26 Client uploaded DOT.

2.6.26-The date section of the notary contains "DL" likely the document type used to validate the borrower ID.This section is to be dated by notary to validate borrowers presence and idenity.2-10-26 XXX reviewed DOT with notary date of XXX. Exception satisfied.

(No Data)

Not Applicable

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal credit usage ratio of 31%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  726 FICO score is above the 640 min.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  30.22 months reserves are above the 0 required.

Complete

10110802

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL2864

Copy of Mortgage/Deed in file is incomplete

Mortgage is missing notary date.

2-9-26 Client uploaded DOT.

(No Data)

Not Applicable

Complete

10110802

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

XXX: Client uploaded AVM.

2-6-26: XXX review AVM, meets guidelines and supports value. Exception satisfied.

(No Data)

Not Applicable

Complete

9101344

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  29 Months Reserves

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  256+ Months reporting

CFCFS1739: Postive mortgage payment history
- XXX Comments:  Per XXX VOM in file.  O late payments since XXX

Client Complete

9246646

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

CMPATRQM2900

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

Client delivered file as QM:SH APOR status. XXX status reflects QM:RP due to file being a HPCT.

7.28.25 Client response; We accept the determination on this and please clear the exception.7.28.25 XXX memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon XXXs review.

7.28.25 XXX memo; exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- XXX Comments:  The borrower has occupied the subject property for 16 years

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Borrower has been XXX for 10 years

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X 6 = $XXX. Cash to borrower $XXX or 45.63 months PITI

Complete

9246646

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

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.

Missing bank statements from XXX account #XXX for the months of XXX-XXX showing income in the amount of $XXX used to qualify.

7.24.25 bank stmts for income uploaded.7.28.25 exception satisfied

7.28.25 exception satisfied

(No Data)

Not Applicable

Complete

9246646

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Provide proof of receipt for LE's dated XXX, XXX and XXX.

7.25.25-Client provided proof of receipt for LE issued XXX/e-sign XXX. LE issued XXX/e-sign XXX. Provide initial CD, including proof of receipt.7.30.25-Client provided CD issued XXX, e-signed XXX. Satisfied.

7.30.25- Satisfied.

(No Data)

Not Applicable

Complete

9246646

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Provide proof of receipt for LE's dated XXX, XXX and XXX.

7.30.25-Satisfied.

(No Data)

Not Applicable

Complete

9246646

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Credit

Ability to Repay/Qualified Mortgage

Active

CRDATRQM5170

TILA - ATR/QM: Lender changed their status determination based upon XXX's review

Client agreed to QM rebuttable APOR status based upon XXX review.

(No Data)

Not Applicable

Complete

9246646

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Credit

Income/Employment

Satisfied

CRDINC2408

Income verification does not meet guidelines

Missing bank statements from XXX account #XXX for the months of XXX-XXX showing income in the amount of $XXX used to qualify.

7.24.25 bank stmts for income uploaded. 7.28.25 exception satisfied

7.28.25 exception satisfied

(No Data)

Not Applicable

Complete

9362352

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Provide final hud-1

9.3.25 please find the final SS9.5.25 exception satisfied

9.5.25 exception satisfied

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of 47.32% is less than 80.00% max guideline requirement.

CFCFS1736: Significant time at current residence
- XXX Comments: Borrower has resided at current residence for over 10 years.

Complete

10101272

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  109.65 months of reserves exceeds guideline requirements of 3 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  Fired in error. cancel.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has lived at current home for the past 17 years and 0 months.

CFCFS2860: Good credit history
- XXX Comments:  166 months with 0x30 Credit Card payment history exceeds guideline requirements of 12 month with XXX  XXX  dated 0XXX.

Complete

10101497

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Satisfied

CRDAST2354

Asset Verification In File is Incomplete Per Requirements

Missing Satisfactory signed Gift letter for $80,000 Gift of Equity listed on final HUD per guidelines on page 61. Donor must be from a family member.

3.11.26 please find an exception for gift of equity letter

3.11..2026-Exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 736 exceeds guideline requirement of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX  or 41.37 months PITI reserve exceed required reserves of ($3,560.60 x 3 = $10,681.80).

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 12.38 is below guideline requirement max of 50.

Complete

10007454

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Please provide Final HUD-1

12.6.25 Final settlement statement provided, please clear finding.12.6.25 exception satisfied

12.6.25 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of793 is above the required 620

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 68.97 is below the maximum allowable of 80

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves: XXX or 17.20 months of PITIA. 3 months required (XXX * 3 = XXX)

Complete

10101265

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  293 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  4.6 months of reserves exceeds guideline requirements of 3 months.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has lived at current residence for the past 2 years and 0 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 756 > 136 points above guideline program minimum of 620.

Complete

10007522

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Income/Employment

Satisfied

CRDINC2408

Income verification does not meet guidelines

12 Month Bank Statement Program and Missing XXX ,XXX & XXX Bank Statements for XXX XXX Acct #XXX

12.12.2025 Client responded -Requested bank statements provided. Please clear finding.XXX Client provided XXX acct XXX statements for XXX ,XXX and XXX. Exception satisfied

12.12.2025 Exception satisfied

(No Data)

Not Applicable

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  138+ Months reporting

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  26+ Months reporting positive

Complete

10007522

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Please provide Final HUD-1.

XXX FSS provided, please clear finding.XXX exception satisfied.

12.22.25 exception satisfied.

(No Data)

Not Applicable

Complete

10007513

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Income/Employment

Satisfied

CRDINC888

Income Amount is Unsupported by Documentation in File

Provide documentation from XXX or XXX rental history.

12.9.25 219 and XXX listing provided, please clear finding.12.9.25 exception satisfied

12.9.25 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 754 exceeds the minimum of 620

CFCFS2860: Good credit history
- XXX Comments:  13% or revolving credit utilized

CFCFS1746: Significant housing expense reduction
- XXX Comments:  Payment reduced $108.55/month or 4.86%

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  61 months reviewed for primary residence mtg, exceeds the 12 months required

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Back $XXX, 5.75 months reserves, 3 months required

Complete

10007523

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  131+ Months reporting positive

CFCFS1739: Positive mortgage payment history
- XXX Comments:  25+ Months reporting positive

Complete

10007429

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

Provide third party valuation that supports the appraised of $ XXXX.

XXXX CDA provided with a 0 variance. Please clear finding.XXXX exception satisfied

XXXX exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $ XXXX or 13.31 months PITI reserve exceeds guideline requirement of ($ XXXX x 3 = $ XXXX).

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 809 exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Borrowers revolving credit utilization is 0%.

Complete

10007509

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Title

Satisfied

CRDTIL865

Title incomplete

Provide final title policy showing all liens satisfied. Title Commitment shows a lien for The XXXX XXXXX XXXXX XXXXX in the amount of $XXX.

XXXXX Satisfaction of Mortgage was recorded for the lien by XXX XXXXX XXXX XXXX XXXX in the amount of $XXXXX.XXXX exception satisfied

XXXXX exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  677 mid-score per CBR.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  70% LTV per review; 80% LTV is maximum allowed per guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  4.1 years living at primary residence.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  117 months of 0x30 mortgage history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  70.12 months of reserves in file.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  153 months of 0x30 consumer credit history per CBR.

Complete

10007240

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Property

Active

PRVAPROP177

Property Issues Indicated

6% Seller contributions exceed guideline requirements. Max concessions for LTV >80% is 3%. XXX deems this non-material. Compensating factors are 37.20% DTI, good credit history, and almost 5 years XXX employment

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI is 37.20%, max allowed by G/L is 43%

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  The borrower has been XXX employed for almost 5 years

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 15 year credit history with 22 open active tradelines 0X30

Complete

10007500

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Credit/Mtg History

Active

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

Missing XXX payment for primary residence mortgage for full 12 months. Private party payment history covers from XXX - XXX and then from XXX - XXX which is XXX payment.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 667 exceeds the minimum of 620

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Back $XXX, 48.79 months reserves, 3 months required

CFCFS1736: Significant time at current residence
- XXX Comments:  10 yrs residing in current residence

CFCFS2860: Good credit history
- XXX Comments:  2% revolving credit utilized

Complete

10007241

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $ XXXX, or 14.78 months. XX months required.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 32.53% is below guideline maximum of 50%.

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrower has never been 1X30 with history from XXXX.

Complete

10007245

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Initial CD XXXX e signed XXXX. Final CD issued XXXX with consummation date of XXXX. Loan consummated before end of waiting period (3 day waiting period not met).

XXXX -Client provided e-package tracking for CD issued XXXX. Per client comments on XXXX, 2:33:25 pm of "actual signing of the cd was XXXX please find shot" in combination with CD XXXX in file showing e-sign date of XXXX. Provide via the documents view from the e-package tracking for CD issued XXXX the date borrower "reviewed" CD issued XXXX OR If a copy of the CD issued XXXX has a e-sig of XXXX, please provide that. XXXX - Re-review per client email XXXX. XXXX--Re-review per client email XXXX. Reply sent for needed docs.XXXX - Per client email-Sent for second review-CN-1801XXXX - Per second review due to time zone -Satisfied CN-1801

XXXX-Satisfied CN-1801

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 728 exceeds 700 the minimum required per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $ XXXX exceeds $ XXXX the minimum required per lender guidelines

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 39.80% is below 43.00% the maximum allowable per lender guidelines

Complete

10007245

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Initial CD XXXX e signed XXXX. Final CD issued XXXX with consummation date of XXXX. Loan consummated before end of waiting period (XX day waiting period not met).

XXXX - Client provided e-package tracking for CD issued XXXX. Per client comments on XXXX, 2:33:25 pm of "actual signing of the cd was XXXX please find shot" in combination with CD XXXX in file showing e-sign date of XXXX. Provide via the documents view from the e-package tracking for CD issued XXXX the date borrower "reviewed" CD issued XXXX OR If a copy of the CD issued XXXX has a e-sig of XXXX, please provide that. XXXX -Re-review per client email XXXX. XXXX--Re-review per client email XXXX. Reply sent for needed docs.XXXX - Per client email-Sent for second review-CN-1801XXXX -Per second review due to time zone -Satisfied CN-1801

XXXX - Satisfied CN-1801

(No Data)

Not Applicable

Complete

10101002

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3670

TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation

Zero Tolerance Fee fail for $358.44. Inspection fee of $200.00 and Rate Lock Ext Fee of $158.44 added on final CD. No documentation provided disclosing addition of fees. Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

1.22.26-Client provided COCs, Satisfied.

1.22.26-Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Assets of Cash out $91,748.49 + 5/3rd Bank of $6257.83 = $XXX / 1294.01 = 75.74 months of post close reserves

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- XXX Comments: Borrower does not have any major mortgage related occurrences

Complete

10007247

XXXXXX

QM: Safe Harbor (APOR)

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Please provide confirmation of receipt for CD XXX.

12.16.25-Client provided CD issued XXX e-signed XXX Satisfied.

12.16.25- Satisfied.

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 38.93% is above the minimum program requirements of 50%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  23.82 months of reserves exceeds guideline requirements of 6 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 727 > 67 points of minimum guideline requirements of 660.

Complete

10007247

XXXXXX

QM: Safe Harbor (APOR)

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Please provide confirmation of receipt for CD XXX .

12.16.25-Client provided CD issued XXX e-signed XXX. Satisfied.

12.16.25- Satisfied.

(No Data)

Not Applicable

Complete

10007247

XXXXXX

QM: Safe Harbor (APOR)

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3670

TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation

Zero tolerance fail for $4676.25. Rate lock extension fee added to LE XXX through final CD XXX. No documentation provided disclosing addition of fee. Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

12.16.25-Client provided COC, Satisfied.

12.16.25-Satisfied.

(No Data)

Not Applicable

Complete

10007247

XXXXXX

QM: Safe Harbor (APOR)

Credit

LTV/CLTV

Active

CRDLTV5734

HCLTV Exceeds Guideline Requirement by less than 5%

Max HCLTV Allowed Per Guidelines is *%% and HCLTV is 85.92%

(No Data)

Not Applicable

Complete

10007247

XXXXXX

QM: Safe Harbor (APOR)

Credit

LTV/CLTV

Active

CRDLTV5738

CLTV Exceeds Guideline Requirement by less than 5%

Max Allowed CTTV per Guidelines is 85% and Current CLTV is 85.92%

(No Data)

Not Applicable

Complete

10007277

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXXX, or 16.87 months. 6 months required.

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Per CPA letter borrower has been in business since XXXX.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 47.84% is below guideline maximum of 50%.

Complete

10007278

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Loan product changed from a 30 yr fixed on XXX to a 40 fixed 10 yr IO on XXX. Borrower was not provided the required 3 day waiting period required for product change. Earliest consummation date is XXX.

12.2.25-Client provided CD issued XXX, including e-package tracking for CD proving receipt via electronic portal. Also provided Lock-in reflecting program change to IO 40YR Satisfied.

12.2.25- Satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 80%, max allowed by G/L is 85%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves $XXX  X 6 = $70,591.20. Post cls reserves $129,914.14 or 11.04 months PITI

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 755, minimum required by G/L is 660

Complete

10007278

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Assets

Satisfied

CRDAST206

Asset Amounts Are Unsupported by Documentation in File

Short liquid funds to close in the amount of $-13,411.60. Provide 2 months bank statements from XXX showing wired funds to closing in the amount of $348,000 and/or proof of liquidation if applicable

11.19.2025 Client responded -Copy of the statement for XXX XXX provided shows sufficient funds for the wire sent to Title. The wire sent shows it came from the XXX account, highlighted on 2nd page. Please clear finding.11.19.2025 Client sent statement fromXXX that covers assets. Exception satisfied

11.19.2025 Exception satisfied

(No Data)

Not Applicable

Complete

10007525

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- XXX Comments:  4 years living at primary residence.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  760 mid-score per CBR B1.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  116 months of 0x30 consumer credit history per CBR.

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  10.9 years employed with XXX.

Complete

10007526

XXXXXX

(No Data)

ATR/QM: Exempt

Compliance

Documentation

Satisfied

CMPDOC3076

Legal document was not executed or is incomplete

Mortgage in file was issued XXX. Notary occurred XXX. 1 month prior to creation of said document. Provide LOX or corrected notary to mortgage for second review.

12.16.2025-Client's response: XXX XXX XXX, 3:23:18 pmIt was corrected, see copy of the recorded DOT. Please clear finding.12.16.2025-XXX's response: Received the Deed of Trust with corrected notary date; exception satisfied.

12.16.2025-Exception satisfied.

(No Data)

Not Applicable

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  353 months credit history exceeds guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence for 20 years.

Complete

10007529

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Title

Satisfied

CRDTIL865

Title incomplete

Provide final Title policy showing property in the borrower's name, XXX XXX

11.20.25 Copy of the recorded warranty deed showing title vested to XXX XXX provided. 11.21.25 exception satisfied

11.21.25 exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  29 Months Reserves

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  4 Years 10 months XXX Employed

CFCFS1737: LTV below guideline requirements
- XXX Comments:  51.52% LTV is below Guidelines

Complete

10007530

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Provide final hud1

12.10.2025 Client responded - FSS provided, please clear finding.12.10.2025 Client provided the final SS. Exception satisfied

12.10.2025 Exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 683 exceed 680 the minimum required per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX  exceeds $7,657.83 the minimum required per lender guidelines

CFCFS2854: Significant time in profession
- XXX Comments:  Borrower is in the same profession for 21 years

Complete

10007531

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  740 qualifying score exceeds guideline minimum of 620

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has owned primary / current residence for 8+ years.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  $XXX reserves in file or 111.12 months PITI > required guidelines

Complete

10007250

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 80% is below guideline maximum of 90% for an Alt Doc purchase with a 737 credit score.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 12.98 months. 6 months required.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has never been 1X30 with history from 3/2023.

Complete

10007532

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75 is below guideline requirement max of 80.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 751 exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 7.81 months PITI reserves exceed required reserves of ($4,041.67 x 3 = $12,125.01).

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 34.23 is below guideline requirement max of 50.

Complete

10007331

XXXXXX

(No Data)

ATR/QM: Exempt

Compliance

Documentation

Satisfied

CMPDOC806

Notary Status is missing

Provide copy of Mortgage Notary

XXXX Copy of the executed notarized mortgage with legal description providedXXXX exception satisfied

XXXX exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 794, minimum required by G/L is 720

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 19 year credit history with 21 open and active tradelines 0X30

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Mortgage reporting 49 months with no lates

Complete

10007331

XXXXXX

(No Data)

ATR/QM: Exempt

Compliance

Documentation

Satisfied

CMPDOC869

Mortgage not signed

Provide copy of signed mortgage and riders

XXXX Copy of the executed notarized mortgage with legal description providedXXXX exception satisfied

XXXX exception satisfied

(No Data)

Not Applicable

Complete

10007462

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP130

Application is incomplete

Applications in file are Not Signed

12.29.2025-Client's response: XXX 2025, 2:06:01 pmPlease find the final 100312.29.2025-XXX's response: Received the executed 1003, exception is satisfied.

12.29.2025-Exception is satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  54 Months Reserves

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1736: Significant time at current residence
- XXX Comments:  5+ Years at Current Residence

Complete

10100950

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3640

TRID - CD: Zero tolerance fee or fees increased at or prior to closing without a valid reason or the revised LE/CD was not timely disclosed; insufficient credit or refund provided

Zero Tolerance Fail of $7,425 due to Discount Points fee added on LE 11/28/25. Provide a valid Change of Circumstance, or Post Close CD, LOX and copy of refund check to borrower (amount of $7345.60 due to tolerance cure in file of $79.40) with proof of delivery via tracking method within 60 days of consummation.

1.13.26-Client provided COC, satisfied.

1.13.26- satisfied.

Numeric

Not Applicable

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  The borrower has been XXX employed for 10.5 years

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI is 21.72%, max allowed by G/L is 50%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $4536.43 X 6 =  $27,218.58.  Post close reserves $133,079.59 or 29.33 months PITI

Complete

10100950

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Credit/Mtg History

Waived

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

Provide 12 months canceled checks for the mortgage payments made to XXX.

3.31.26 Acknowledged by client.

3.31.26 waived.

(No Data)

Not Applicable

Complete

10100950

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

LTV is 80%. Max LTV for a 679 FICO is 75%. XXX deems this non-material. Compensating factors are 29.33 months reserves, XXX employed for over 10 years, 21.72% DTI

3.31.26 Acknowledged by client.

3.31.26 waived

(No Data)

Not Applicable

Complete

10100950

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Title

Satisfied

CRDTIL865

Title incomplete

File contains a Subordination Agreement. Provide the mortgage amount and the monthly payment from XXX.

1.21.2026- rcvd

1.21.26 exception satisfied

(No Data)

Not Applicable

Complete

10100950

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Appraisal

Satisfied

PRVAAPPR100

Missing Appraisal

Missing Original Appraisal

1.21.2026-Client's response: XXX XXX XXX, 12:37:26 pmAppraisal provided, please clear finding.1.21.2026-XXX's response: Received the appraisal, exception is satisfied.

1.21.2026-Exception satisfied.

(No Data)

Not Applicable

Complete

10100950

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

FEMA

Satisfied

PRVAFEMA856

Natural Disaster Area, no subsequent inspection (Public)

Missing Original Appraisal

1.21.2026-Client's response: XXX XXX XXX, 12:37:26 pmAppraisal provided, please clear finding.1.21.2026-XXX's response: Received the appraisal, exception is satisfied.

1.21.2026-XXX's response: Received the appraisal, exception is satisfied.

(No Data)

Not Applicable

Complete

10007433

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves $XXXX or 50.65 months PITI exceed guideline requirement.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75.00% is below max guideline requirement of 80.00%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 770 exceeds guideline requirement of 680.

Complete

10007295

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 33.06 months. Reserves not required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 51.95% is below guideline maximum of 90% for a Full Doc purchase with a 762 credit score.

CFCFS1736: Significant time at current residence
- XXX Comments:  In residence 25 years.

Complete

10007296

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Provide initial CD

12.4.25-Client provided e-package tracking for a CD. Provide that CD for review.12.11.25-Client provided CD issued XXX, e-signed XXX. Satisfied.

12.11.25- Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  694 qualifying mid-score per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  30.38 months of reserves in file.

CFCFS2854: Significant time in profession
- XXX Comments:  B1 has 29 years in the XXX

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  XXX years employed with XXX.

Complete

10007296

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Provide initial CD

12.4.25-Client provided e-package tracking for a CD. Provide that CD for review.12.11.25-Client provided CD issued XXX, e-signed XXX. Satisfied.

12.11.25- Satisfied.

(No Data)

Not Applicable

Complete

10007296

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID4579

TRID - CD: Missing Initial CD

Provide initial CD

12.4.25-Client provided e-package tracking for a CD. Provide that CD for review.12.11.25-Client provided CD issued 11/11/25, e-signed 11/11/25. Satisfied.

12.11.25- Satisfied.

(No Data)

Not Applicable

Complete

10007257

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Terms/Guidelines

Active

CRDTER5518

Loan fails XXX Minimum Equity requirement

Lender exception approved with less than $XXX equity. Loan has $XXX equity. File contains lender exception with the following compensating factors: LTV 90%, Fico 809, 16 tradelines, 22 years of monthly payments, XXX employed sind XXX and 100% owner, 2.41 years a present address, 0x30 in last 12 months, Benefit to borrower purchasing a new primary.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit Score 809 exceeds the minimum of 700

CFCFS2860: Good credit history
- XXX Comments:  0% revolving credit utilized

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI 17.58% is below the maximum of 43%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Reserves $XXX, PITI $3067.80, 8.36 months reserves, 6 months required

Complete

10007508

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 7 years.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  198 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  104+ months reserves exceeds guidelines.

Complete

10007534

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Insurance

Satisfied

CRDINSR5353

Insurance Expiration date is prior than the transaction date

Hazard policy in file shows active dates from XXX -XXX ; policy needs to be active for 12 months.

12.19.20.25-Client's response:XXX XXX XXX, 3:31:35 pmUpdated EOI provided, please clear finding.12.19.2025-XXX's response: Received the HOI with an expiration date XXX Exception satisfied.

12.19.2025-Exception satisfied.

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  740 mid-score per CBR.

CFCFS2860: Good credit history
- XXX Comments:  0x30 consumer credit delinquency since 12/2022 on CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  81.52 months of reserves in file.

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  4.3 years employed with XXX XXX  XXX

Complete

10007298

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1739: Positive mortgage payment history
- XXX Comments:  44+ Months reporting positive

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  127+ Months Consumer Credit Reporting

Complete

10007350

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX  or 88.96 months PITI reserve exceed required reserves of ($1,957.57 x 3 = $5,872.71).

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 715 exceeds guideline requirement of 620.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 70 is below guideline requirement max of 80.

Complete

10007299

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3670

TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation

Zero tolerance fail of $13.75. Lender credit reduced from $441.00 on LE XXX to $431.25 on final CD XXX . No documentation was provided disclosing reduction in credit. Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

12.11.25-Client provided COCs. Satisfied.

12.11.25- Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 674 > 74 points of minimum guideline requirements of 600.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 36.38% is above the minimum program requirements of 50%

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Borrower has significant time at current job, 7 years and 11 months.

Complete

10007299

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Credit/Mtg History

Active

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

Provide 12 months of canceled checks for the mortgage payments made to XXX Mortgage Co.

(No Data)

Not Applicable

Complete

10007535

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  350+ Months reporting positive

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  50+ Months reporting positive. 12 required.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  60.45 Months Reserves. 3 required.

Complete

10007451

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Active

CRDAST206

Asset Amounts Are Unsupported by Documentation in File

Borrower received $XXX cash which is greater than $XXX allowed per guidelines.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 112.90 months. 3 months required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75% is below guideline maximum of 80% for a DSCR cash out refinance with a 792 credit score.

CFCFS1736: Significant time at current residence
- XXX Comments:  In residence 30 years.

Complete

10007369

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 681 > 61 points of minimum guideline requirements of 620.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  63.30% LTV for Subject Property is below guideline max LTV of 75%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  40.69 months of reserves exceeds guideline requirements of 0 months.

Complete

10007537

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  82 Months Reserves

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  221+ Months reporting

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

Complete

10007262

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Please provide confirmation XXX was received 3 days prior of consummation date of XXX

12.11.25-Client provided CD issued XXX e-signed XXX. Satiafied.

12.11.25-Satiafied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 751 > 91 points of minimum guideline requirements of 660.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  66.87% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 35.61% is above the minimum program requirements of 50%

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Borrower1 has significant time at current job, 11 years and 7 months.

Complete

10007362

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Credit/Mtg History

Active

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

12 months canceled checks for the mortgage payments to XXX XXXX XXXX.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 733 exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXXX or 28.12 months PITI reserve exceeds required reserves of ($ XXXX x 3 = $ XXXX).

CFCFS2860: Good credit history
- XXX Comments:  Borrower currently maintains 7 open accounts with 0 x 30 for up to 99 months and reflects a good credit history.

Complete

10007371

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 770, minimum required by G/L is 700

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X 3 =  $XXX.  Post close reserves $XXX or 83.39 months PITIA

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 29 year credit history with 23 open and active tradelines 0X30

Complete

10007265

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

CMPATRQM2900

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

Client declared QM Safe APOR, XXX status is QM Rebuttable APOR due to Benchmark Date XXXX, loan has a test APR 8.154%, the Benchmark Rate was 6.170%; Variance 1.984%; max allowed is 1.5000%.

XXXX Client response; We accept the determination on this and please clear the exception.XXXX XXX memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon XXXs review.

XXXX XXX memo; exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXXX, or 41.59 months. 6 months required.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 24.47% is below guideline maximum of 50%.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has never been 1X30 with history from XXXX.

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrower has never been 1X30 with history from XXXX.

Complete

10007265

XXXXXX

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

Credit

Ability to Repay/Qualified Mortgage

Active

CRDATRQM5170

TILA - ATR/QM: Lender changed their status determination based upon XXX's review

Client agreed to QM rebuttable APOR status based upon XXX review.

(No Data)

Not Applicable

Complete

10101221

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Property

Satisfied

PRVAPROP177

Property Issues Indicated

Provide Proof of Documented Improvements so that supports loan amount of $XXX with Purchase Price of $XXX plus new loan fees of $9,850.32.

1.8.26 Proof of documented improvements provided, please clear finding.1.9.26 exception satisfied

1.9.26 exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  231.65 months of reserves exceeds guideline requirements of 3 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  75% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score of 781 > 161 required guideline requirements of 620

CFCFS1736: Significant time at current residence
- XXX Comments:  3.7 years living at primary residence.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  81 months of 0x30 consumer credit history per CBR.

Complete

10007505

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  XX + Months reporting positive

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  XXX + Months reporting

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $ XXXX / $ XXXX (PITI) = 26.7 Months Reserves. XX months required.

Complete

10101163

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Please provide Final HUD-1

1.9.26 FSS for review.1.12.26 exception satisfied

1.12.26 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Representative score of 742 exceeds guideline requirement of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Verified reserves of $XXX or 16.14 months PITI reserve exceeds required reserves of ($XXX x XXX = $XXX).

Complete

10101033

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Please provide initial CD issued and confirmed 3 days prior to consummation date of XXX.

1.4.25-Client provided CD issued XXX, e-signed XXX. Satisfied.

1.4.25-Satisfied.

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- XXX Comments:  12.5 years living at primary residence.

CFCFS2854: Significant time in profession
- XXX Comments:  B1 has 30 years in the Construction/Builder profession.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  724 qualifying credit score per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  42.33 months of reserves in file. 6 months reserves required per guidelines.

Complete

10101033

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Please provide initial CD issued and confirmed 3 days prior to consummation date of XXX.

1.4.25-Client provided CD issued XXX, e-signed XXX. Satisfied.

1.4.25-Satisfied.

(No Data)

Not Applicable

Complete

10101033

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

LTV/CLTV

Active

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

Max LTV for rural 75%. Loan to value is 80%.

(No Data)

Not Applicable

Complete

10101165

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Active

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

Missing documentation verifying the dates the XXX and XXX payments made to XXX secured to subject property. Document provided does not disclose the specific dates to verify payments made as agreed.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves $XXX 19.7 months reserves, 3 months reserves

CFCFS2860: Good credit history
- XXX Comments:  14% revolving credit utilized

CFCFS1746: Significant housing expense reduction
- XXX Comments:  Payment reduced $2318.78/month or 59.63%.  Used current monthly payment on Note to be paid off and divided by 4 since it is a blanket mortgage secured to 4 properties.

CFCFS1736: Significant time at current residence
- XXX Comments:  23 yrs residing in current residence

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  720 mid-score per CBR.

Complete

10101165

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Satisfied

CRDCRMH149

Missing support docs for VOM/VOR (e.g. cancelled checks)

Missing payment history for mortgage by XXX XXX and XXX XXX along with evidence mortgage was paid off. Title evidences 2 mortgages secured to subject property. HUD-1 verifies only 1 mortgage paid off.

1.19.2026-Client's response: XXX XXX XXX 4:39:02 pmThere is only one payoff for this borrower and that is with XXX please find attached and clear.1.19.2026-XXX's response: Received the payoff from XXX which has both loans; exception is satisfied.

1.19.2026-Exception is satisfied.

(No Data)

Not Applicable

Complete

10101165

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Provide final hud-1 wit settlement and disbursement dates. Estimated HUD is missing dates

1.22.26 FSS rcvd

1.22.26 exception satisfied

(No Data)

Not Applicable

Complete

10101165

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Active

CRDTER5518

Loan fails XXX Minimum Equity requirement

Appraised value is $XXX and loan amount is $XXX. Equity remaining is $33,200

(No Data)

Not Applicable

Complete

10007364

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 65 is below guideline requirement max of 80.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 5 months PITI reserve exceed required reserves of $XXX.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 672 exceeds guideline requirement of 620.

Complete

10101166

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 3 years.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  386 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  85+ months reserves exceeds guidelines.

Complete

10007538

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 60 is below guideline requirement max of 80.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 697 exceeds guideline requirement of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 6.05 months PITI reserve exceed required reserves of $0.00.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 25.40 is below guideline requirement max of 50.

Complete

10007539

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Assets

Satisfied

CRDAST205

Insufficient Funds to Close

Borrower is short to close $94,1265.77. Additional reserves of $10,913.76 required.

12.1.25 assets full provided12.5.25 exception satisfied

12.5.25 exception satisfied

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Per WVOE borrower has been on job since 8/30/2021.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 19.23% is below guideline maximum of 50%.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has never been 1X30 with history from 10/2010.

Complete

10007539

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Provide final HUD

12.1.25 final SS for review12.5.25 exception satisfied

12.5.25 exception satisfied

(No Data)

Not Applicable

Complete

10101368

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Application

Satisfied

CRDAPP3822

Missing or incomplete documentation related to citizenship/residency

Missing Proof of Borrower 2 Permanent Resident Alien Status Documents.

1.16.2026-Client's response: January 14th 2026, 12:27:40 pmCopy of Bwr2's green card provided. Please clear finding.1.16.2026-XXX's response: Received the Green Card for the borrower, exception is satisfied.

1.16.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  51.37 months of reserves exceeds guideline requirements of 3 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  76.5% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 796 > 176 points above guideline program minimum of 620.

Complete

10007268

XXXXXX

QM: Safe Harbor (APOR)

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

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.

Missing copy of executed Note and the most recent six months bank statements showing deposits equal to the amount of the monthly Note payments

12.12.2025 Client responded -Copy of Buyout Agreement and bank statement from XXX provided. The agreement states the payment is annual beginning in XXX. Please clear finding. 12.12.2025 Client provided the Buyout agreement and Bank statement verifying the funds deposited from the buyout agreement/ Exception satisfied

12.12.2025 Exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 809 exceeds 660 the minimum required per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX  exceeds $202,593.24 the minimum amount required per lender guidelines

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 32.88% is below 50.00% the maximum allowable per lender guidelines

Complete

10007268

XXXXXX

QM: Safe Harbor (APOR)

Credit

Income/Employment

Satisfied

CRDINC888

Income Amount is Unsupported by Documentation in File

Missing copy of executed Note and the most recent six months bank statements showing deposits equal to the amount of the monthly Note payments.

12.12.2025 Client responded - Copy of Buyout Agreement and bank statement from XXX provided. The agreement states the payment is annual beginning in XXX Please clear finding.12.12.2025 Client provided the Buyout agreement and Bank statement verifying the funds deposited from the buyout agreement/ Exception satisfied

12.12.2025 Exception satisfied

(No Data)

Not Applicable

Complete

10007304

XXXXXX

QM: Safe Harbor (APOR)

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75% is below max guideline requirement of 80%.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 50.43% is below max guideline requirement of 55.00%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 758 exceeds guideline requirement of 640.

Complete

10101442

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Active

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

Provide 12 months canceled checks for the rent payments made to XXX.

(No Data)

Not Applicable

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  120 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  36+ months reserves exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.

Complete

10101374

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS2860: Good credit history
- XXX Comments:  Very Good Credit History

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  43 Months Reserves

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  329+ Months reporting positive

Complete

10100974

XXXXXX

QM: Safe Harbor (APOR)

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Please provide evidence that borrower acknowledged receipt of CD XXX 3 days prior to consummation date of XXX.

1.8.26-Client provided CD issued XXX e-signed XXX. Satisfied.

1.8.26- Satisfied.

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  28 months Mortgage payment history exceeds 12 months the minimum required per lender guidelines

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 702 exceeds 680 the minimum required per lender guidelines

CFCFS2854: Significant time in profession
- XXX Comments:  Borrower is in the same profession for 10 years

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 26.65% is below 50.00% the maximum allowable per lender guidelines

Complete

10100974

XXXXXX

QM: Safe Harbor (APOR)

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Please provide evidence that borrower acknowledged receipt of CD XXX 3 days prior to consummation date of XXX.

1.8.26-Client provided CD issued XXX, e-signed XXX. Satisfied.

1.8.26-Satisfied.

(No Data)

Not Applicable

Complete

10100974

XXXXXX

QM: Safe Harbor (APOR)

Credit

Assets

Waived

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Short PITI reserves in the amount of $12,282.79. Verified $XXX. Required $38,637.00. XXX deems exception nonmaterial = grade 2/B. FICO 702; DTI 26.65l 0 mtg lates, same profession 10+ years.

3.31.26 Acknowledged by client.

3.31.26 waived

(No Data)

Not Applicable

Complete

10101285

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

Max LTV is 75% for Mid Fico Score of 705 for cash out refinance and LTV is 80% XXX deems this non-material. Compensating factors: 42 months in reserves, FICO 705, 3 years at current residence.

3.31.26 Acknowledged by client.

3.31.26 waived

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  42.89 months of reserves exceeds guideline requirements of 3 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score of 705 > 85 required guideline requirements of 620%

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  76 months with 0x30 Mortgage payment history exceeds guidelines of 12 months.

CFCFS1736: Significant time at current residence
- XXX Comments:  3.2 years living at primary residence.

Complete

10101285

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

Missing updated valuation to support appraised value $XXX. Missing Fannie Mae UCDP in file.

1.7.26 CU supporting the appraisal value of $XXX with a score of 1.4 provided. 1.8.26 exception satisfied

1.8.26 exception satisfied

(No Data)

Not Applicable

Complete

10101202

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Please provide Final HUD-1

1.5.26 FSS provided, please clear finding.1.6.26 exception satisfied

1.6.26 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- XXX Comments:  227 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  60+ months reserves exceeds guidelines.

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Guarantor demonstrates positive mortgage payment history.

Complete

10101047

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3640

TRID - CD: Zero tolerance fee or fees increased at or prior to closing without a valid reason or the revised LE/CD was not timely disclosed; insufficient credit or refund provided

Zero tolerance fail for $325.00. Appraisal reinspection fee added to final CD. No documentation provided disclosing addition of fee. Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

1.14.26-Client provided COC, Satisfied.

1.14.26-Satisfied.

Numeric

Not Applicable

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  The borrower has been XXX employed for 5 years

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $6551.98 X 3 =  $39,311.88.  Post close reserves $217,961.39 or 33.26 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  721 mid-score per CBR.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  37 months of 0x30 mortgage payment history per CBR.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI is 16.78%, max allowed by G/L is 50%

Complete

10101047

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Title

Satisfied

CRDTIL796

Missing Title

Missing Title report

1.19.2026 The client responded - Prelim provided, please clear finding.1.19.2026 The client provided the Preliminary title. Exception satisfied.

1.19.2026 Exception satisfied

(No Data)

Not Applicable

Complete

10101291

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Please provide Final HUD-1.

1.20.2026-Client's response: XXX XXX XXX, 8:18:03 amFSS provided, please clear finding.1.20.2026-XXX's response: Received the HUD1, exception satisfied.

1.20.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  445 months credit history exceeds guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 3 years.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.

Complete

10101291

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Title

Satisfied

CRDTIL796

Missing Title

Missing Title report

1.9.26 Commitment provided, please clear finding.1.12.26 exception satisfied

1.12.26 exception satisfied

(No Data)

Not Applicable

Complete

10101109

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX or 42.14 months. 6 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 787 exceeds guideline minimum of 640 for a DSCR with a ratio < 1.00.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has never been 1X30 with history from XXX.

Complete

10101516

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Please provide Final HUD-1

1.19.2026-Client's response: XXXFSS provided, please clear finding.1.19.2026-XXX's response: Received the Final HUD1, exception satisfied.

1.19.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 800 exceeds guideline requirement of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 46.01 months PITI reserve exceeds required reserves of ($XXX x XXX = $XXX).

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 16.17 is below guideline requirement max of 50.

Complete

10100993

XXXXXX

QM: Safe Harbor (APOR)

Credit

Credit/Mtg History

Active

CRDCRMH124

Collections, Liens, etc. not paid as required by guidelines

Missing proof $303.00 collection account with XXX XXX has been paid

(No Data)

Not Applicable

CFCFS2854: Significant time in profession
- XXX Comments:  Borrower is in the same profession for 11 years, 5 months

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 777 exceeds 720 the minimum required per lender guidelines

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  25 months mortgage payment history exceeds 12 months the minimum required per lender guidelines

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 7.73% is below 50.00% the maximum allowable per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX exceeds $248,949.12 the minimum amount required per lender guidelines

Complete

10101342

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

LTV/CLTV

Active

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

Max LTV per Guidelines is 70% and there is an Exception Request in file for LTV to go to 75%. Upon further review,XXX deems this non-material due to the following compensating factors: Verified 25.678 months reserves, LTV 75%, FICO 647, 48 tradelines, 12 years of monthly payments, 3 years at current residence, 12+ # of months 0x30 payments and Expanding Rental portfolio.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  25 Months Reserves

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  78+ Months reporting

CFCFS1736: Significant time at current residence
- XXX Comments:  3+ Years at Current Residence

Complete

10101432

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Missing final HUD

1.13.2026-Client's response: January 13th 2026, 9:55:21 amFSS provided, please clear finding.1.13.2026-XXX's response: Received the Final HUD, exception is satisfied.

1.13.2026-Exception is satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of760 is above the required 620

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75 is below the maximum allowable of 80

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves: $XXX  or 6.76 months of PITIA. 3 months required.

Complete

9694043

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL100

Legal document incorrect or incomplete

The personal guaranty agreement shows it was signed as managing member not as individual.

Received personal guaranty agreement

Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Borrower has $XXX or 24.13 months reserves.

Complete

10026652

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Assets

Active

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

The guidelines require 6 months reserves for a cash out refinance for a loan exceeding $1,000,000. The cash out amount is $51,333.21 or 5.77 months. Please provide evidence of additional assets.

2-4-26 Client uploaded post close exception.

2-5-26 XXX reviewed post close exception. XXX deems non-material/non-fatal to lending decision due to small shortage of less than a month and compensating factors: Credit score 742/700 minimum, 45 years at primary residence and 99+ months mortgage history/12 required. Non-material exception remains.

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrowers have been at current residence 45 years.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Verified credit score 742.  Guideline minimum 700.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  99+ months on-time housing history provided.  Guidelines require 12 month review.

Complete

9388862

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 29.53 months of cash reserves.

Complete

9768912

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

DTI

Satisfied

CRDDTI2540

Missing verification of some or all components of non-subject PITI

Verification of the most recent 12 month rental history was not in the file for the borrowers' primary residence. The file included the leases which shows the rent is paid in three installments (4 months each) with the most current lease showing payments to be made in XXX & XXX & XXX. The statements provided show the XXX (XXX through XXX) and the XXX (XXX through XXX) payments, but the XXX (XXX through XXX) and XXX payments were not in the file.

Received three installments (4 months each)

Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 802 credit score

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 111 months reserves

Complete

9768912

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC3204

Income Documentation Missing

The file did not include the final insurance policy. The file included an insurance application/binder receipt. This document did not have the end date of the policy.

Received updated HOI policy with dates.

Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 802 credit score

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 111 months reserves

Complete

9768912

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC2408

Income verification does not meet guidelines

Co-Borrower previous employment was not verified in the file (XXX) and the XXX tax return was not signed by the borrowers. The current employer start date was XXX.

(No Data)

Post closing tax returns provided to cure.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 802 credit score

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 111 months reserves

Complete

9768912

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Waived

CRDINC150

Income docs do not meet guidelines

The borrower's are U.S. Citizens residing and working in XXX for the past 13 years. The XXX and XXX tax returns were provided with the XXX tax transcript; however, the XXX tax transcript was not in the file.

(No Data)

The file includes an XXX approval dated XXX for the missing XXX tax transcript.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 802 credit score

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 111 months reserves

Complete

9768912

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Terms/Guidelines

Satisfied

CRDTER4643

Borrower does not meet guideline requirements

The borrowers ATR certification or the underwriter's attestation regarding the borrowers' ability to repay was not int he file.

Received borrower ATR

Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 802 credit score

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 111 months reserves

Complete

9768912

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Appraisal

Satisfied

PRVAAPPR4791

Appraisal Deficiency #2

The file was missing the third party appraisal review from an approved vendor and there was no CU/LCA reports reflecting a score of 2.5 or less.

Received CDA report.

Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 802 credit score

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 111 months reserves

Complete

9768912

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Appraisal

Waived

PRVAAPPR4789

Appraisal Deficiency

The guides indicate the appraisal must be ordered through an XXX and if not but is AIR compliant can be review on an exception basis. The appraisal shows tit was not ordered through an XXX (page 6 of the appraisal) and there was no exception approval in the file.

Received investor waiver

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 802 credit score

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: 111 months reserves

Complete

10200499

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Credit/Mtg History

Satisfied

CRDCRMH183

Credit report incomplete

Original credit report, dated XXX, is missing. Only refresh and supplement has been provided. Scores were taken from the refresh.

Received the origination credit report.

Satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 80%. Max allowed LTV is 85%.-

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Guidelines require min score of 720. Mid fico score is 773.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Guidelines require reserves for 6 months ($61,027.98). Total reserves verified in the amount of $XXX (103 Months).

Complete

10217425

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Legal Documents

Satisfied

CRDLGL4033

Missing Legal Document(s)

The 1008 is missing

Received 1008

Satisfied.

(No Data)

Not Applicable

CFCFS5269: Minimal use of credit
- XXX Comments: The credit line usage is below 10%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments: 755 FICO score exceeds minimum FICO requirements by over 20 points

Complete

10217425

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Waived

PRVAAPPR4789

Appraisal Deficiency

The appraisal was not ordered through an XXX. The seller has a blanket waiver with XXX for this issue.

The seller has a blanket waiver with XXX for this issue.

Waived

(No Data)

Not Applicable

Complete

Client Name:

Client Project Name:

MSRM 2026 May Securitization

Start - End Dates:

3/2/2022 - 12/31/2024

Deal Loan Count:

158

Conditions Report 2.0

Loans in Report:

Loans with Conditions:

Loan Number

Lender Application Date

Broker Application Date

Initial Securitization Overall Loan Grade

Final Securitization Overall Loan Grade

Initial Securitization Credit Loan Grade

Final Securitization Credit Loan Grade

Initial Securitization Property Valuations Loan Grade

Final Securitization Property Valuations Loan Grade

Initial Securitization Compliance Loan Grade

Final Securitization Compliance Loan Grade

Initial S&P Overall Loan Grade

Final S&P Overall Loan Grade

Initial S&P Credit Loan Grade

Final S&P Credit Loan Grade

Initial S&P Property Valuations Loan Grade

Final S&P Property Valuations Loan Grade

Initial S&P Compliance Loan Grade

Final S&P Compliance Loan Grade

Did Lender Acknowledge Exception at Origination

10104161

XXXXXX

N/A

Not Applicable

10104167

XXXXXX

N/A

10026390

XXXXXX

Not Applicable

10110804

XXXXXX

Not Applicable

10110824

XXXXXX

Not Applicable

10026396

XXXXXX

N/A

Not Applicable

10026401

XXXXXX

N/A

Not Applicable

10110810

XXXXXX

N/A

Not Applicable

10026424

XXXXXX

N/A

10026425

XXXXXX

N/A

10110870

XXXXXX

N/A

Not Applicable

10110774

XXXXXX

Not Applicable

10026485

XXXXXX

N/A

Not Applicable

10026489

XXXXXX

N/A

10026503

XXXXXX

N/A

Not Applicable

10110977

XXXXXX

Not Applicable

10026560

XXXXXX

N/A

Not Applicable

10026571

XXXXXX

10026614

XXXXXX

N/A

Not Applicable

10026623

XXXXXX

N/A

10026624

XXXXXX

Not Applicable

10026626

XXXXXX

10026627

XXXXXX

Not Applicable

10026629

XXXXXX

Not Applicable

10026636

XXXXXX

10026638

XXXXXX

N/A

Not Applicable

10110920

XXXXXX

Not Applicable

10110927

XXXXXX

Not Applicable

10110917

XXXXXX

N/A

10110838

XXXXXX

N/A

Not Applicable

10110771

XXXXXX

10110885

XXXXXX

10110813

XXXXXX

10110851

XXXXXX

N/A

Not Applicable

10110926

XXXXXX

N/A

Not Applicable

10110890

XXXXXX

N/A

Not Applicable

10110910

XXXXXX

N/A

10110866

XXXXXX

Not Applicable

10110823

XXXXXX

Not Applicable

10110873

XXXXXX

10110888

XXXXXX

10110858

XXXXXX

N/A

Not Applicable

10110837

XXXXXX

N/A

10110829

XXXXXX

10110941

XXXXXX

10110930

XXXXXX

10110904

XXXXXX

10110812

XXXXXX

Not Applicable

10110908

XXXXXX

N/A

Not Applicable

10110846

XXXXXX

Not Applicable

10110777

XXXXXX

Not Applicable

10110880

XXXXXX

N/A

10110921

XXXXXX

N/A

Not Applicable

10110877

XXXXXX

Not Applicable

10110808

XXXXXX

10110849

XXXXXX

N/A

Not Applicable

10110868

XXXXXX

10110968

XXXXXX

Not Applicable

10110919

XXXXXX

N/A

10110912

XXXXXX

N/A

Not Applicable

10110960

XXXXXX

N/A

Not Applicable

10110963

XXXXXX

N/A

Not Applicable

10110766

XXXXXX

Yes

10110840

XXXXXX

N/A

Not Applicable

10110806

XXXXXX

N/A

Not Applicable

10110953

XXXXXX

N/A

Not Applicable

10110825

XXXXXX

N/A

10110970

XXXXXX

10110789

XXXXXX

10110778

XXXXXX

Not Applicable

10110820

XXXXXX

N/A

Not Applicable

10110818

XXXXXX

N/A

Not Applicable

10110925

XXXXXX

N/A

10110956

XXXXXX

10110764

XXXXXX

Not Applicable

10110767

XXXXXX

Not Applicable

10110948

XXXXXX

N/A

Not Applicable

10110776

XXXXXX

N/A

Not Applicable

10110785

XXXXXX

Not Applicable

10110798

XXXXXX

Not Applicable

10110802

XXXXXX

Not Applicable

9101344

XXXXXX

9246646

XXXXXX

9362352

XXXXXX

Not Applicable

10101272

XXXXXX

10101497

XXXXXX

N/A

10007454

XXXXXX

10101265

XXXXXX

Not Applicable

10007522

XXXXXX

10007513

XXXXXX

Not Applicable

10007523

XXXXXX

N/A

10007429

XXXXXX

N/A

10007509

XXXXXX

N/A

Not Applicable

10007240

XXXXXX

Yes

10007500

XXXXXX

Not Applicable

10007241

XXXXXX

Not Applicable

10007245

XXXXXX

Not Applicable

10101002

XXXXXX

10007247

XXXXXX

10007277

XXXXXX

Not Applicable

10007278

XXXXXX

10007525

XXXXXX

N/A

Not Applicable

10007526

XXXXXX

Not Applicable

10007529

XXXXXX

10007530

XXXXXX

Not Applicable

10007531

XXXXXX

N/A

Not Applicable

10007250

XXXXXX

10007532

XXXXXX

N/A

10007331

XXXXXX

10007462

XXXXXX

N/A

10100950

XXXXXX

10007433

XXXXXX

N/A

Not Applicable

10007295

XXXXXX

Not Applicable

10007296

XXXXXX

Not Applicable

10007257

XXXXXX

Yes

10007508

XXXXXX

N/A

10007534

XXXXXX

N/A

Not Applicable

10007298

XXXXXX

10007350

XXXXXX

N/A

10007299

XXXXXX

10007535

XXXXXX

N/A

10007451

XXXXXX

N/A

Not Applicable

10007369

XXXXXX

10007537

XXXXXX

N/A

10007262

XXXXXX

10007362

XXXXXX

10007371

XXXXXX

10007265

XXXXXX

Not Applicable

10101221

XXXXXX

Not Applicable

10007505

XXXXXX

N/A

10101163

XXXXXX

N/A

10101033

XXXXXX

Not Applicable

10101165

XXXXXX

N/A

Not Applicable

10007364

XXXXXX

N/A

10101166

XXXXXX

N/A

Not Applicable

10007538

XXXXXX

N/A

10007539

XXXXXX

Not Applicable

10101368

XXXXXX

10007268

XXXXXX

Not Applicable

10007304

XXXXXX

Not Applicable

10101442

XXXXXX

N/A

10101374

XXXXXX

N/A

Not Applicable

10100974

XXXXXX

Not Applicable

10101285

XXXXXX

Not Applicable

10101202

XXXXXX

Not Applicable

10101047

XXXXXX

Not Applicable

10101291

XXXXXX

N/A

Yes

10101109

XXXXXX

N/A

Not Applicable

10101516

XXXXXX

N/A

10100993

XXXXXX

Not Applicable

10101342

XXXXXX

N/A

10101432

XXXXXX

9694043

XXXXXX

N/A

Not Applicable

10026652

XXXXXX

N/A

Not Applicable

9388862

XXXXXX

N/A

Not Applicable

9768912

XXXXXX

10200499

XXXXXX

Not Applicable

10217425

XXXXXX

Not Applicable