J.P. MORGAN ACCEPTANCE CORPORATION II ABS-15G

Exhibit 99.13

Loan Number

Seller 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

304732626

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Section 32

Satisfied

CMPS32371

Section 32 Loan per Points and Fees Test

Provide compEase or Mavent ran at or near closing, Including un-discounted starting rate.

7.18.25-Client provided lock confirmation. Please confirm if 7% is the starting, un-discounted starting rate. (rate prior to any discount points)7.21.25-Client provided Starting , un-discounted rate of 7.5%. Satisfied.

7.21.25-Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves $76689.02, 25.21 months reserves, 6 months required

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 663 exceeds the minimum of 660

CFCFS1746: Significant housing expense reduction
- Clayton Comments:  Payment reduced by $1771.13/month or 36.80%

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 42.77% is below the maximum of 50%

304732626

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Terms/Guidelines

Satisfied

CRDTER3122

Loan documents do not meet guideline requirements

Missing payoffs for mortgage with XXX #XXX and XXX HELOC #XXX along with evidence HELOC will be closed.

7.23.25 Final title policy uploaded7.23.25 exception satisfied

7.23.25 exception satisfied

(No Data)

Not Applicable

304732555

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 verification of most recent 12 months mortgage payment history for primary residence.

8-7-25 Client sent email explaining: Attached is the Mtg Statement reflecting the voluntary monthly payment, as well as the verbiage that the XXX mtg attached to the borrowers primary residence was discharged in a previous BK. (I have also attached an updated 1008 with new commentary to confirm this information is also available when calling the toll-free number reflected on the statement).There will not be any rating on this one as the borrower is no longer liable via BK.I have also included a XXX printout to evidence there is no existing foreclosure or pre-foreclosure activity on this property, not has there been since the discharge. Because we did not originally obtain any BK ppwrk or evidence of the discharge date (BK has dropped off credit), I have included a Lexis Nexis printout as well, to evidence the borrowers most recent BK was > 10 years ago.8-15-25 Client replied: Thank you we will accept your Grade B thank you ??

8-8-25 Clayton reviewed the explanation, docs uploaded and file. Response: NONI requires a housing history for the primary and subject property (sec 1.8.2.3) and guidelines offer alternative means of meeting the requirement when mortgages are not reported on the credit report (sec 1.5.5.1.2). To satisfy this non-material exception 12 months mortgage statements would be required or a payment history from the servicer. Either option would need to reflect a satisfactory payment history. Exception remains. 8-15-25 Non-Material exception remains.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Qualifying FICO of 792 is 92 points above the 700 FICO required for the program.

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has a credit line usage ratio of 1.58%.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 75.75% is 4.25% below the 80% LTV allowed for the program.

304840747

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 722 exceeds the guideline minimum of 700

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $39,976.40, 24.04 months.  6 months reserves are required.

CFCFS5269: Minimal use of credit
- Clayton Comments:  The borrower is using 2% of the available revolving credit.

304840742

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Income/Employment

Active

CRDINC150

Income docs do not meet guidelines

Guidelines require evidence of 2 months rent receipt to utilize higher rents from lease. Lender provided a copy of the lease with beginning date XX/XX/XX and evidence of the receipt of $XXX from tenant and $XXX from XXX on behalf of the tenant to go towards the deposit and first months rent for a total of $XXX.Clayton deems non-material/non-fatal to lending decision due to compensating factors: 694.50 months cash reserves/6 required, credit score of 784/700 minimum, and 5 years mortgage history/1 year required.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrowers 784 FICO score is above the 700 min.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrowers 5 years of current mortgage history exceeds the required 12 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrowers 694.50 months reserves is above the 6 required months.

304840741

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 54.55 is below guideline requirement max of 75.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Representative score of 779 exceeds guidelines. 660 minimum.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified reserves of $671,057.66 or 80.06 months PITI reserves exceeds required reserves of ($8,382.35 x 6 = $50,294.10).

304813607

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post closing reserves $149,602.32, 65.35 months, 6 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 800 is above the required 700.

304813601

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%

Maximum LTV is 70% for unleased properties. Loan closed at 75%. Clayton deems non-material/non-fatal to lending decision due to compensating factors: Credit score 735/700 minimum, 537.91 months cash reserves/6 required and 21 months mortgage history/12 months required.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrowers 735 FICO score is above the 700 min.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrowers 537.91 months reserves is above the 6 required months.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrowers 42 months mortgage history exceeds the required 12 months.

304813601

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Active

CRDTER111

Ownership seasoning does not meet minimum per guidelines

Missing Documented improvements to subject property as Cash out guidelines state "For properties owned greater than 6 months but less than 12 months: LTV/CLTV is limited to the lower of the current appraised value or the property's purchase price plus documented improvements." (Sec 1.4.1.3)Property purchased XX/XX/XX. Note date XX/XX/XX.

(No Data)

Not Applicable

304813595

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Post closing reserves $38,137.99, 6.11 months; no reserves required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 755 is above the required 700.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 80%; guidelines allows 85%.

304813586

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 725 exceeds the guideline minimum of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $3,096, 1.56 months. No reserves required.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrower has 36 months credit history with no adverse events or delinquencies.  This exceeds the guideline requirement of 24 months.

304813576

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Credit/Mtg History

Satisfied

CRDCRMH193

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

Missing documentation mortgage listed on title has been discharged and released from title. Per VOM dated XX/XX, mortgage secured to subject is paid in full.

8.22.25 The subject property is own free and clear. There is no payoff. See the Reconveyance pdf that was uploaded.

8.26.25 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 735 exceeds the minimum of 680

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 63.79% is below the maximum of 70%

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $170388.26, 113.59 months,  6 months required.

304813576

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Property

Active

PRVAPROP177

Property Issues Indicated

Subject property GLA is below 700 sq ft. GLA at 697 sq ft. Clayton deems exception to be non material to the lending decision.

(No Data)

Not Applicable

304813575

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of764 is above the required 740

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $106,819.40 or 99.87 months of PITIA. 3 months required for NONI+

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

304813548

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrowers 765 FICO score is above the 700 min.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrowers 100.96 months reserves is above the 6 months required .

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrowers 5 years of mortgage history is above the 12 months required

304813547

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Income/Employment

Active

CRDINC150

Income docs do not meet guidelines

Guidelines require 2 months rent receipt when using a lease value that is higher than market rents. Lender provided signed lease to begin XX/XX/XX along with the receipt of the first months rent and security deposit. Clayton deems non-material/non-fatal to lending decision due to the following compensating factors: LTV 70%/75% maximum, 6.34 months cash reserves/6 required and Borrower contributed an additional $XXX above the required $XXX down payment for a total down payment of $XXX.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Post close assets are $18,305.81 or 6.34 months reserves.  The guidelines require 6 months.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 70% is below the maximum allowable of 75%.

CFCFS3824: Borrower contributed an additional down payment
- Clayton Comments:  Borrower contributed an additional $22,225 above the required $111,125 down payment for a total down payment of $133,350.

304813546

XXXXXX

(No Data)

ATR/QM: Exempt

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

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves= $12,489.16, 2.63 months. 0 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 743 is above the required 660.

304840733

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Active

PRVAAPPR169

Appraisal includes one or more issue(s)

The 1007 does not contain the current rent as required by the guidelines when the property is currently tenant occupied. The appraiser indicated they were unable to obtain the data due to being unable to contact the seller. Clayton considers this non material as market rents used for qualification, borrower has 4.82 months reserve with none required, and credit score is 685/660.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $15,026.04, 4.82 months.   No reserves required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 685 exceeds the guideline minimum of 660

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has been at current residence for 2 years.

304813511

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Cash reserves = $15,527.31, 7.29 months; 6 months required.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV is 64.84%; guidelines allows 75%.

304840725

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Satisfied

CRDTER4238

Business entity does not meet guidelines

Missing evidence of XXX ownership percentage in XXX. Schedule of directors and shareholders provided is for XXX, need schedule for XXX

9-23-25 Client uploaded all LLC docs.9-25-25 Client replied: Attached is the Operating Agreement for XXX evidencing borrower has 25% ownership9-29-25 Client replied: Attached is borrowers Operating Agreement for XXX dated 5/2025, within attachment is the SchA evidencing borrower has 25% ownership.

9-24-25 Clayton reviewed LLC docs. Page 1 of Operating agreement section 2.1 indicates there is a schedule A which list the percentage of ownership of the LLC. The schedule provided was for XXX not the borrowing entity XXX Please provide schedule A for XXX Exception remains. 9-26-25 Clayton reviewed operating agreement and loan file. Operating agreement provided with original file is dated 5-14-25 and there is Unanimous written consent in file dated 8-18-25 signed by XXX as Majority Owner. Please provide the schedule A to operating agreement dated 5-14-25. Exception remains. 9-30-25 Clayton reviewed Operating agreement which reflects Guarantor has 25% ownership interest in LLC. Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 741 exceeds the minimum of 660

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  57 months reviewed for primary residence mtg, exceeds the 12 months required

CFCFS5269: Minimal use of credit
- Clayton Comments:  10% revolving credit utilized

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $118148.88, 63.96 months, 6 months required

304813474

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 734 is 34 points above minimum program requirement of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Borrower has $108,852.28/107.40 PITIA which is > guideline minimum of 0 months PITIA.

304840719

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Qualifying fico is 734. G/l min is 700

CFCFS5269: Minimal use of credit
- Clayton Comments:  24% consumer credit utilization in file

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  82.64 months piti reserves

304813462

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Terms/Guidelines

Active

CRDTER4643

Borrower does not meet guideline requirements

Borrower is the broker. Exception approved @ origination for borrower eligibility: borrower is broker submitting 4 applications. Clayton deems non-material/non-fatal to lending decision due to the following compensating factors: 134.11 cash reserves/6 months required, LTV65/75% maximum, and Credit score of 751/660 minimum.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $173,622.28 or 134.11 months of PITIA. 6 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of751 is above the required 660

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of65 is below the maximum allowable of 75%.

304813459

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP130

Application is incomplete

Provide Citizenship on application.

8-21-25 Client uploaded corrected 1003.

8-21-25 Clayton reviewed 1003. Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of716 is above the required 700

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $56,785.23 or 28.38 months of PITIA. 6 months required.

CFCFS1746: Significant housing expense reduction
- Clayton Comments:  Borrower current PITI is $2317.02; Subject PITI is $2001.23. Monthly savings of $315.79

304813459

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Active

CRDTER111

Ownership seasoning does not meet minimum per guidelines

Property not owned 12 months and Missing Documented improvements to subject property as Cash out guidelines state "For properties owned greater than 6 months but less than 12 months: LTV/CLTV is limited to the lower of the current appraised value or the property's purchase price plus documented improvements." (Sec 1.4.1.3)Property owned since XXX.

8-21-25 Client uploaded guidelines.

8-21-25 Clayton reviewed the above loan and the guidelines uploaded. However, the borrower falls in the cash out refinance category for properties owned greater than 6 months but less than 12-months as the Borrower purchased the home XXX per Title and closed on the subject refinance on XXX. Non-material exception remains per guidelines.

(No Data)

Not Applicable

304813453

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrowers 743 FICO score is above the 620 min.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  59.391% LTV is below the 85% max.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  112.67 months reserves is above the 0 required.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  185 months of 0x30 consumer credit history per CBR.

304813414

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Income/Employment

Active

CRDINC150

Income docs do not meet guidelines

XXX report appears incomplete as it does not meet guidelines: 1) must have 3 comparable properties 2) must be similar in size, room count, amenities, availability and occupancy. Clayton deems non-material/non-fatal to lending decision due to compensating factors: 34.02 months cash reserves/0 months required, credit score 749/640 minimum, LTV 70%/85% max.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of749 is above the required 640

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of70 is below the maximum allowable of 85%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $77,321.23 or 34.02 months of PITIA. 0 months required.

304813407

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of798 is above the required 660

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of70 is below the maximum allowable of 75%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $113,243.52 or 108.2 months of PITIA. 6 months required.

304840706

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments:  5 years living at primary residence.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  780 qualifying credit score per CBR.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  80% LTV per review; 85% LTV is maximum allowed per guidelines.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  450 months of 0x30 consumer credit history per CBR.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  255 months of 0x30 mortgage history per CBR.

304840702

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 773 is above guideline program minimum of 660

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

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  29 months with 0x30 Mortgage payment history exceeds guidelines of 12 months.

304813392

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 776 is above the required 660.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 80%; guidelines allows 85%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash Reserves $17,894.63, 5.99 months. 0 months required

304840700

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Satisfied

CRDCRMH193

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

Missing full 12 month housing payment for primary residence. Letter verifying living rent free supports last 8 months.

11-7-25 Client replied: HI I have attached the payment history for previous primary home.

11-10-25 Clayton reviewed payment history for previous primary housing. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves $35492.34, 26.25 months reserves, 6 months required

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit Score 730 exceeds the minimum of 660

CFCFS5269: Minimal use of credit
- Clayton Comments:  7% of revolving credit utilized

304813381

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP3822

Missing or incomplete documentation related to citizenship/residency

Missing Citizenship on application - unable to determine if additional documents are required

8-28-25 Client uploaded 1003.

8-28-25 Clayton reviewed 1003 and updated data points. Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of757 is above the required 700

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal use of credit with credit usage ratio of 2%

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $57,821.96 or 10.11 months of PITIA. 6 months required.

304840661

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of759 is above the required 700

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of80 is below the maximum allowable of 85%.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage payment history of160 months exceeds the required 12 months.

304840643

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Insurance

Satisfied

CRDINSR289

Insufficient Hazard Insurance Coverage

HOI dwelling coverage $350,000. Loan Amount $XXX. Please provide HOI w/ coverage equal or greater than the loan amount of $XXX or a rebuild letter stating the property can be rebuilt for $350,000 or less. Additional exceptions may apply.

9-23-25 Client uploaded RCE.

9-24-25 Clayton reviewed RCE. Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 793 is 93 points above minimum program requirement of 700.

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

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrowers have0x30x20 months mortgage payment history exceeding guideline requirement of 1x30x12.

304840626

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  767 mid-score per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  77 months of 0x30 consumer credit history per CBR.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  41 months of 0x30 mortgage history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  17.71 months of reserves in file.

304840619

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 812 is above the required 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Cash reserves= $1,124,703.26, 87.13 months. 0 months required.

304840562

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 753 is 53 points above minimum program requirement of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has $231,281.88/31.36 PITIA which is > guideline minimum of 6 months PITIA.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrowers have0x30x17 months mortgage payment history exceeding guideline requirement of 1x30x12.

304840557

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 801 is above the required 700.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 80%; guidelines allows 85%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves= $59,149.51, 4.61 months. 0 months required.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  53 months of 0x30 consumer credit history per CBR.

304840555

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has been at current residence for 5 years

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 50%. G/l max is 75%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Qualifying fico is 716. G/l min is 660

304840551

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR2502

Appraiser is currently on an exclusionary list

Missing Appraiser search on the Fraud Report.

9-29-25 Client replied: uploaded Fraud report with Appraiser search in it

9-30-25 Clayton reviewed fraud report. Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 792 exceeds the minimum of 700

CFCFS5269: Minimal use of credit
- Clayton Comments:  19% of revolving credit utilized

CFCFS1736: Significant time at current residence
- Clayton Comments:  38 years residing in primary residence

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  48 months reviewed for primary residence mtg exceeds the 12 months required

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $49800.91, 6.14 months reserves, 3 months required

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  80% LTV per review; 85% LTV is maximum allowed per guidelines.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  84 months of 0x30 consumer credit history per CBR.

304840748

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 722 exceeds the guideline minimum of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $98,955.38, 35.89 months.  6 months reserves required.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  The borrower has 15 open mortgage accounts on credit report with no delinquencies.

304894216

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 701 is 01 points above minimum program requirement of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has $163,591.90/114.23 PITIA which is > guideline minimum of 12 months PITIA.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrowers have 0x30x16 months mortgage payment history exceeding guideline requirement of 1x30x12.

304840534

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 50%; guidelines allows 85%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 817 is above the required 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves= $1,878,396.66, 727.51 months. 0 months required.

304894196

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified credit score 796.  The guideline minimum is 660

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 80% is less than the guideline maximum of 85%

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $55,735.55, 21.97 months.  No reserves are required.

304894177

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments: Borrower is 0*30 consumer credit history past 36 months

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: 95.89 months piti reserves

304894137

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Active

CRDCRMH2662

Number of mortgaged properties exceeds guideline limit

The 1008 indicates this was approved with other loans and this would need loan committee exception.

(No Data)

11-12-25 Clayton located credit committee approval. Borrower has 7 loans - max is 4 HEM financed. Clayton deems non-material/non-fatal to lending decision due to compensating factors: 21.77 months cash reserves/3 required, credit score of 745/700 and minimal credit use at 3%. Non-material exception remains.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified credit score 745.  The guideline minimum is 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $253,786.91, 21,77 months.  3 months reserves are required.

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower is using 3% of the available revolving debt.

304894137

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR100

Missing Appraisal

Missing appraisal and market rent; updated valuation to support appraised value will also be required.

11-11-25 Client replied: uploaded appraisal again was upload on 11/4/2025

11-12-25 Clayton reviewed appraisal, UCDP, 1007 and CDA which support value of $XXX and long term rental income of $XXX. Exception satisfied.

(No Data)

Not Applicable

304894097

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 766 is above the required 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  11.93 months of reserves in file.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  151 months of 0x30 consumer credit history per CBR.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  70% LTV per review; 85% LTV is maximum allowed per guidelines.

305033009

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Waived

CRDINC150

Income docs do not meet guidelines

Missing Tax Preparer attestation they have completed or filed the borrowers most recent business tax return. Clayton deems non-material/non-fatal to lending decision due to letter verifying over 2 years XXX and CPA prepared P&L and compensating factors: LTV 80%/85% maximum, Credit score 707/680 minimum and DTI of 45.51%/50% maximum.

12.23.2025- Acknowledged by client.

12.23.2025- Non-material exception remains.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 707 is above minimum program requirement of 680.

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

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 45.51% is below the guideline minimum of 50%.

305032985

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $22,700.93, 24.01 months.  3 months reserves are required.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has been in current residence 21 years.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified credit score 747.  Guideline minimum 700.

305062259

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

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

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  5 years of mortgage history is above the required 1

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  50 months of reserves are above the required 3.

305062251

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP131

Occupancy status not supported by file documentation

Provide updated final application for XXXX reflecting declarations A as No - will not occupy as primary residence.

3-25-26 Client replied: This was corrected on the Final 1003 and already provided3-27-26 Client replied: 1003 uploaded

3-25-26 Clayton reviewed the uploaded applications. XXX application reflects Yes to property will be primary residence on page 5. Please provide update. Exception remains. 3-27-26 Clayton reviewed updated 1003 with correction. Exception satisfied.

(No Data)

Not Applicable

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal credit usage ratio of 9.73742%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 747 > 27 points above guideline program minimum of 720.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves $1,162,443.26 = 59.31 months of reserves. 9 months required.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 35.4968% is below the minimum program requirements of 50%

305046188

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 34.67% is below the guideline minimum of 50%.

CFCFS2860: Good credit history
- Clayton Comments:  Borrower has 0x30 for 75 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 712 is 12 points above minimum program requirement of 700.

305062169

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments:  11 years living at primary residence.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  736 mid-score per CBR.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  125 months of 0x30 mortgage history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves= $283,977.27, 48.98 months. 3 months required.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  0x30 consumer credit history since 5/2019 per CBR.

305062159

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Assets

Active

CRDAST2354

Asset Verification In File is Incomplete Per Requirements

Using 100% of business assets when Guidelines (sec 1.6.2) state business accounts to be considered for assets be limited to the borrower's ownership percentage of the business. XXXX and XXX XXX are owned by XXX which borrower owns 75% of business. XXX is owned by XXX which the borrower owns 50%. Clayton deems non-material/non-fatal to lending decision as spouse owns the remaining portion of business and is on title and compensating factors: Credit score 709/680 minimum, DTI of 25.30%/50% max, and minimal credit use of 8%.

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 25.3% is below the maximum of 50%

CFCFS5269: Minimal use of credit
- Clayton Comments:  8% revolving credit utilized

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  8% revolving credit utilized

305062159

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Appraisal

Satisfied

PRVAAPPR2502

Appraiser is currently on an exclusionary list

Missing documentation to clear fraud report alert on appraiser. Provide XXX search.

3-10-26 Client replied: SAM.gov search uploaded

3-11-26 Clayton reviewed Sam search which is clear. Exception satisfied.

(No Data)

Not Applicable

305062132

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  48 months of 0x30 rental history per VOR.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets: $104,249.05 = 21.62 months of reserves, 3 are required.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  70% LTV per review; 75% LTV is maximum allowed per guidelines.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  703 mid-score per CBR, 680 minimum.

305062119

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  80% LTV is below the 85% max.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  736 FICO score is above the 620 min.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  42.18 months of reserves are above the required 6.

305062108

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Income/Employment

Active

CRDINC150

Income docs do not meet guidelines

Short term rental income taken from 1007 dated XX/XX/XX at $XXX per month. Original appraisal also contained a 1007 with Short term rental income of $XXX. NONI matrix states: When short term rental income is documented using multiple sources, the lowest monthly income source is to be utilized for calculating DSCR.Lender used the higher of short term rents. Clayton deems non-material/non-fatal to lending decision due to compensating factors: Credit score of 740/700 minimum, 21.63 months cash reserves/6 required, Positive Mortgage history of 48 months/12 required and 0 x 30 in 99 months.

(No Data)

Not Applicable

CFCFS2860: Good credit history
- Clayton Comments:  Borrower has 0x30 for 99 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets: $323,095.41, 21.63 Months; 6 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 740 exceeds minimum required 700.

CFCFS1739: Positive mortgage payment history
- Clayton Comments:  Borrowers have48 months mortgage payment history 0x30. 12 months required.

305062104

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has been in current residence 45 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $1,762.37 or 1.29 months. No reserves required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified credit score 745.  Guideline minimum 700.

305062103

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash Reserves $304450.83, 53.9 months reserves, 0 months required

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 753 exceeds the minimum of 660

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 75% is below the maximum of 85%

CFCFS5269: Minimal use of credit
- Clayton Comments:  11% revolving credit utilized

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

305062099

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  680 FICO score is above the 660 min.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  19 years of on time payment mortgage history is above the required 1.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $186,431.38, 96.55 months. 3 months required

305062096

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 percent tolerance fail of $19530.96. Due to transfer tax & discount point fees increased on LE issued 2/23/23 with no COC in file. Provide COC reflecting valid reason for the fee changes within 3 business days of change -OR- PCCD with cure, copy of cure check, LOE to Borrower and Evidence of delivery via method including tracking, within 60 days of consummation.

3.27.26-Client provided COC, Satisfied.

3.27.26-Satisfied.

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  38 months of 0x30 mortgage history per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  222 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  42.33 months of reserves in file.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  759 qualifying mid-score per CBR.

CFCFS2854: Significant time in profession
- Clayton Comments:  B2 has 15 years in the XXX.

305062089

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 662 >2 points above guideline program minimum of 660.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has significant time at current job, 5 years and 1 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets of $19,073.86 / $3,217.45 = 5.93 months of post close reserves and 3 months of reserves required.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 43.56% is below the minimum program requirements of 50%

305062088

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR2300

Missing Second Appraisal required per guidelines

Missing AVM or Desktop as required per guidelines when appraisal is transferred

3-2-26: Client uploaded AVM.

3-2-26: Clayton reviewed AVM, value supported. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $69,533.38 or 29.64 months of PITIA. 0 months required

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of689 is above the required 680

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal use of credit with credit usage ratio of 6%

305062082

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 51%; guidelines allow 80%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 756 is above minimum program requirement of 680.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 37.50% is below the guideline maximum of 50%.

305062081

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  12.94 months of reserves in file.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  752 mid-score per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  257 months of 0x30 consumer credit history per CBR.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  75% LTV per review; 85% LTV is maximum allowed per guidelines.

CFCFS1736: Significant time at current residence
- Clayton Comments:  21.1 years living at primary residence.

305062078

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Active

CRDINC150

Income docs do not meet guidelines

Bank statement support 11 NSF in the last 12 months. Per guidelines 1.7.6.3, cannot exceed 8 occurrences in last 12 months. Clayton determines this is non material as borrower has been in this same business for 20 years, NSFs are due to timing with seasonal business and projects and are not indicative of business viability. Borrower also has experience with investment properties, maintaining excellent credit with score of 717/620 minimum, DTI of 26.73%/50% allowed, and LTV of 59.41% with 80% allowed.

(No Data)

Not Applicable

CFCFS2854: Significant time in profession
- Clayton Comments:  20 yrs in the same profession

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash Reserves $33,882.82, 5.46 months reserves, 0 months required

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit Score 717 exceeds the minimum of 620

CFCFS1746: Significant housing expense reduction
- Clayton Comments:  Payment reduced $3170.25/month or 33.8%

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 59.41% is below the maximum of 80%

CFCFS5269: Minimal use of credit
- Clayton Comments:  2% revolving credit utilized

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 26.73% is below the maximum of 50%

305062068

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  685 FICO score is above the 660 min.

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

CFCFS2860: Good credit history
- Clayton Comments:  No late payments in the last 12 months.

305062056

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of711 is above the required 700

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $72761.37 or 47.37 months of PITIA. 3 months required.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage payment history of123 months exceeds the required 12 months

305062041

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  80% LTV is below the 85% max.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $193,451.47, 74.20 months. 0 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  742 FICO score is above the 660 min

305062039

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%

LTV of 80% is above the maximum of 75% for cash out refinance. Subject loan paid off a PIK mortgage to XXX - per VOM and note in file indicating no monthly payments - All interest due is collected at time of payoff. Per Guidelines (sec 1.4.1.1) The transaction must be as a cash out refinance if encumbered by a Loan that allows for Paid in Kind (PIK) interest .Clayton deems non-material/non-fatal to lending decision as borrower received $0 cash back and compensating factors: Credit score of 781/700 minimum, 9.60 months cash reserves/3 required, Over 7 years owning primary residence, and 91 months 0 x 30 on mortgage/12 required.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  781 mid-score per CBR.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  91 months of 0x30 mortgage history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  9.60 months of reserves in file. 3 months required.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Over 7 years owning primary residence.

305062036

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $267,256.59, 93.42 months.  No reserves required

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified credit score 676.  Guideline minimum 660.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 75%.  Guideline maximum 80%.

305062030

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1739: Positive mortgage payment history
- Clayton Comments:  Mortgage payment history of85 months with no lates.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of692 is above the required 660

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $439831.47 or 245.91 months of PITIA. 0 months required.

305062025

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets: $5,000, 1.24 months; 0 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 804 is above minimum program requirement of 660.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 75%; guidelines allow 80%.

305062018

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of794 is above the required 740

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $135,895.71 or 113.36 months of PITIA. 3 months required.

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal use of credit with credit usage ratio of 8%

305062010

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  121.84 months of reserves are above the required 3.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  799 FICO score is above the 700 min.

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

305062007

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Satisfied

CRDCRMH2662

Number of mortgaged properties exceeds guideline limit

Missing approved credit committee review for borrower having more than 4 XXX financed properties. Fraud report indicates 4 Active MERS with XXX as lender + subject = 5 XXX financed properties.

2-25-26: Client uploaded credit committee approval for borrower for 7 total loans.

2-25-26: Clayton reviewed credit committee approval for borrower for 7 total loans. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Post close assets are $90,202.69 or 102.48 months piti reserves. 9 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 758 exceeds required 700.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  Borrower has 99 months of consumer credit history with no lates.

305062007

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

Missing updated valuation to support original appraised value

2-25-26: Client uploaded desk review.

2-25-26: Clayton reviewed desk review, value is supported. Exception satisfied.

(No Data)

Not Applicable

305062006

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3662

TRID - Corrected CD should have been provided; APR is less than APR three business days prior to closing by more than allowable tolerance

APR increased due to increase in Prepays. Initial CD: 2/18/2026 APR Stated as 7.702%, Final CD: 3/3/2026 APR Stated as 7.745%, for a difference of 0.143% which exceeds the tolerance of 0.125%.

3.20.26-Client provided a PCCD. Provide mavent testing for fee comparisons.3.23.26-Client provided Mavent report. Sent for second review.XXX3.23.26-Satisfied.XXX

3.23.26-Satisfied XXX

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  9.1 years employed with XXX.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  41 months of 0x30 mortgage history per VOM.

CFCFS2854: Significant time in profession
- Clayton Comments:  9.1 years in the Construction industry.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  662 qualifying credit score per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  133 months of 0x30 consumer credit history per CBR.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  68.04% LTV per review; 75% LTV is maximum allowed per guidelines.

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

305062002

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 72.302%; guidelines allow 75%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets: $90,937, 116.07 months; 9 months required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 758 is 18 points above minimum program requirement of 740.

305061998

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Terms/Guidelines

Satisfied

CRDTER3122

Loan documents do not meet guideline requirements

Missing document to clear SSN alert on Fraud report

3-11-26 Client replied: uploaded SSA-89 to clear SSN alert on fraud report

3-11-26 Clayton reviewed SSA verification which is clear. Exception satisfied.

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 28.36% is below the maximum of 50%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 767 exceeds the minimum of 660

CFCFS5269: Minimal use of credit
- Clayton Comments:  10% revolving credit utilized

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash back $164811.69, PITI $4436.91, 37.15 months reserves, 0 months required

305061998

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Property

Satisfied

PRVAPROP177

Property Issues Indicated

Missing comments from appraiser addressing if security bars on rear windows have release latches. Photos support windows have security bars. See rear photo of property.

3-23-26 Client replied: uploaded updated appraisal w comments from appraiser

3-24-25 Clayton reviewed response. Exception satisfied.

(No Data)

Not Applicable

305061994

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Right of Rescission

Satisfied

CMPROR2330

ROR - Disbursement date is before end of statutory rescission period

Provide PCCD with Corrected Closing Date/Disbursement Date (and closing cost/cash to close if applicable). ROR last day of rescission is XX/XX/XX (midnight of date). Final CD issued XX/XX/XX reflects XX/XX/XX Disbursement. Borrower did not receive full 3 day rescission period.

3-17-26 Client replied: PCCD was uploaded yesterday, reuploaded

3-17-26 Clayton reviewed Final Post Close CD reflecting disbursement date of 3-4-26 which satisfies the 3 day rescission period. Exception satisfied.

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 40.91% is below the minimum program requirements of 50%

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets of $29,810.80 / 7884.26 = 4.61 months of post close reserves and 0 months required reserves.

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal credit usage ratio of 1.9226%

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  65.36% LTV for Subject Property is below guideline max LTV of 85%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 723> 103 points above guideline program minimum of 620.

305061993

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $153237.51 or 36.05 months of PITIA. 0 months required.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 79.99 is below the maximum allowable of 90

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of784 is above the required 720

305061987

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  55% LTV for Subject Property is below guideline max LTV of 80%

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal credit usage ratio of 34.966%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 672 > 52 points above guideline program minimum of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  65.24 months of reserves exceeds guideline requirements of 0 months.

305061967

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage payment history of 64 months exceeds the required 12 months

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $32,128.56, 15.96 months. No reserves required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 765 is above the required 700.

305061964

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Active

CRDINC150

Income docs do not meet guidelines

CPA must attest they have completed or filed the borrowers most recent business tax return. CPA only attested he reviewed the most recent tax return. Clayton considers this non material, borrower has been in same XXX business since 1988, over 38 years, borrower has 38 months reserves with none required, credit score is 774/720 minimum, and LTV is 65.22% with 80% allowed.

3-4-26 HEM accepts B grade

3-9-26 Non-material exception remains.

(No Data)

Not Applicable

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  Credit score of 774 is 54 points above minimum program requirement of 720.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 37.76% is below the guideline maximum of 50%.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 65.22%; guidelines allow 80%.

305061963

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  5 years of mortgage history is above the required 1.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  162 months of 0x30 consumer credit history per CBR.

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

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

305061957

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage payment history of8 months primary + 28 months previous exceeds the required 12 months

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal use of credit with credit usage ratio of 29%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of688 is above the required 660

305061943

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  330 months of 0x30 consumer credit history per CBR.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  75% LTV is below the 80% max.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  809 FICO score is above the 680 min.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  48.5 months reserves are above the required 0.

305061940

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 80 is below the maximum allowable of 85.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of715 is above the required 620

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves: $144511.35 or 27.77 months of PITIA. 6 months required.

305061923

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $78,004.51, 8.22 months.  6 months reserves are required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 716 is above the required 700.

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrowers are utilizing 1% of the available revolving credit limit.

305061917

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  14.93 months of reserves are above the required 6.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  755 FICO score is above the 680 min.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  80% LTV is below the 85% max.

305061916

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  785 FICO score is above the 680 min.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  5.63 months of reserves are above the required 0.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  75% LTV is below the 85% max.

305061914

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 744 is 44 points above minimum program requirement of 740.

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

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets: $215,908.51, 114.08 Months; 9 months required.

305061902

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves = $286,323.21, 22.15 months. 6 months required.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  80% LTV is below the 85% max

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  812 FICO score is above the 680 min.

305061901

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  743 mid-score per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  149 months of 0x30 consumer credit history per CBR.

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

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  343 months of 0x30 mortgage history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  13.39 months of reserves in file.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  80% LTV per review; 85% LTV is maximum allowed per guidelines.

305061888

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Insurance

Satisfied

CRDINSR3278

Hazard Insurance documentation in file is incomplete

Clayton reviewed master which reflects incorrect unit number, name and loan number. Provide corrected certificate of insurance for subject.

3-24-26 Client replied: uploaded corrected master policy. XXX is the coborrower

3-24-26 Clayton reviewed master policy update. Exception satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 79.97%; guidelines allows 85%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 788 is above the required 740.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves= $107,645.07, 36.34 months. 0 months required.

305061888

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Insurance

Satisfied

CRDINSR848

Missing Hazard Insurance

Missing master insurance for XXX and XXX. Only the master flood insurance was found.

3-20-26 Client replied: uploaded master

3-24-26 Clayton reviewed master which reflects incorrect unit number, name and loan number. Exception fired for incomplete HOI. Exception satisfied.

(No Data)

Not Applicable

305061888

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Property

Active

PRVAPROP177

Property Issues Indicated

Condo project does not meet financial requirements, the project has not budgeted 10% to reserves, it is budgeting 8.322%. Clayton deems this non material as project has reserves study which addresses this and plans to correct this going forward. Additionally, borrower is long term homeowner, 12 years in primary home, has cash reserves of 36.34 months with none required, and has a credit score of 788/740 required.

3-20-26 Client replied: XXX accepts B grade

3-24-26 Non-material exception remains.

(No Data)

Not Applicable

305061888

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Property

Satisfied

PRVAPROP2674

Property Issues Indicated 2

Missing required inspection consistent with standards in Florida Statute 553.899. Project is over 30 years old and has more than 3 stories.

3-20-26 Client replied: uploaded inspection

3-24-26 Clayton reviewed reserve study which meets or exceeds all requirements set forth in the Florida Statue 718.112. Exception satisfied.

(No Data)

Not Applicable

305061882

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC3204

Income Documentation Missing

Missing State verification of CPA license or CTEC certification from California per Guidelines 1.7.8.

3-18-26 Client replied: CPA License uploaded

3-18-26 Clayton reviewed CPA license from CA. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash Back $29210.13, 6.73 months reserves, 0 months required

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 736 exceeds the minimum of 660

CFCFS5269: Minimal use of credit
- Clayton Comments:  7% revolving credit utilized

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 73.29% is below the maximum of 80%

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 37.25% is below the maximum of 50%

CFCFS1736: Significant time at current residence
- Clayton Comments:  11 yrs residing in current residence

305061881

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- Clayton Comments:  21 years living at primary residence.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  491 months of 0x30 consumer credit history per CBR.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  75.01% LTV per review; 80% LTV is maximum allowed per guidelines.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  701 mid-score per CBR.

305061871

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Title

Satisfied

CRDTIL100

Potential title issue

Borrower to provide letter of explanation to clarify why all proceeds, $XXX, are being sent to XXX instead of returned to borrower, XXX. There are no instructions to pay or payoffs found for this entity.

3-12-26 Client emailed that borrower was purchasing another investment property.

3-13-26 Clayton reviewed emails - no potential title issues. Exception satisfied.

(No Data)

Not Applicable

CFCFS2860: Good credit history
- Clayton Comments:  No late payments in last 12 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  716 FICO score is above the 700 min

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

305061866

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

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

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  757 FICO score is above the required 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  2.16 months of reserves are above the required 0.

305061839

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2860: Good credit history
- Clayton Comments:  Borrower has no history of late payments

CFCFS5269: Minimal use of credit
- Clayton Comments:  borrower is using only  25% of available credit

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Reserves required  12 months, Borrower Reserves $123,836.11= 18.33  months

305061827

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Assets

Active

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

6 months reserves are required: $2,629.37 x 6 = $15,776.22. Verified post-close assets $15,638.83 or 5.95 months, $137.39. Clayton determined this is non material due to compensating factors, small amount of funds, $137.39, borrower has 749 credit score/700 minimum, low DTI of 29.78% with 50% allowed, and LTV of 80% is below maximum allowed of 85%.

(No Data)

Not Applicable

CFCFS5269: Minimal use of credit
- Clayton Comments:  The borrower is not utilizing any of the revolving credit limit.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 80% is less than the guideline maximum of 85%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified credit score 749.  Guideline minimum 700.

305061827

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Property

Satisfied

PRVAPROP132

Missing HOA Certificate/Questionnaire

Missing copy of inspection report consistent with standards in California SB-326 as indicated on the HOA questionnaire question 12.

3-10-26 Client replied: Push back subject property has no balconies and all walkways/stairways are concreteno inspection is required.3-12-26 Client replied: please see the upl docs

3-11-26 Clayton reviewed file, appraisal and condo questionnaire. Condo questionnaire answered Yes to "Is there a wood deck, balcony, stairway, walkway or railing elevated more than 6 feet above ground". A determination could not be made based on the Review of the appraisal and photos alone to determine if "no wood components are present in these structures". Provide further clarification from XXX. Exception remains. 3-16-26 Clayton reviewed UPdated Condo questionnaire indicating No to question 12. Exception satisfied.

(No Data)

Not Applicable

305061824

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2854: Significant time in profession
- Clayton Comments:  6 years in the Septic industry.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  68.82% LTV per review; 80% LTV is maximum allowed per guidelines.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  6 years employed with High Desert Septic.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  704 mid-score per CBR.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  111 months of 0x30 mortgage history per CBR.

305061819

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Application

Satisfied

CRDAPP131

Occupancy status not supported by file documentation

Clarification on occupancy of subject property. Initial and Final 1003, Section 5 Declarations states both borrowers will not occupy subject as primary residence. Letter in file states they intend to occupy subject and sell current primary residence

3-24-26 Client replied: Please see corrected 1003 - confirming subject will be primary

3-24-26 Clayton reviewed corrected 1003 reflecting primary. Exception satisfied.

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  16.1 years at primary residence.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 20.16% is below the maximum of 43%

CFCFS5269: Minimal use of credit
- Clayton Comments:  3% of revolving credit utilized

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 63.33% is below the maximum of 90%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 791 exceeds the minimum of 660 due to asset utilization

305061798

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 11.45% is below the maximum of 50%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 764 exceeds the minimum of 680

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash Reserves $72666.75, 19.46% months reserves, 12 months required

305061791

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 35.79% is below the minimum program requirements of 43%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 752 > 92 points above guideline program minimum of 660.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves $4,050,993.54, 268.22 months of post close reserves and 9 months of post close reserves required.

CFCFS5269: Minimal use of credit
- Clayton Comments:  Borrower has minimal credit usage ratio of 49.311%

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  66.667% LTV for Subject Property is below guideline max LTV of 90%

305061853

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

DTI

Satisfied

CRDDTI2540

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

Provide a copy of signed note for XXX with PI payment of $XXX.

3-20-26 Client replied: VC- Please see uploaded note on 3/19

3-24-126 Clayton reviewed Note with PI of $XXX. Exception satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Representative score of 723 exceeds guideline requirement of 680.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 27.32 is below guideline requirement max of 50.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified reserves of $448,338.08 or 29.25 months PITI reserve exceeds required reserves of 9 months.

305061853

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Insurance

Satisfied

CRDINSR3028

Flood Certificate has incorrect or incomplete data

Flood certificate reflects an address of XXX. Note reflets XXX.

3-23-26 Client replied: VC-Please see uploaded flood cert.

3-24-26 Clayton reviewed updated flood cert. Exception satisfied.

(No Data)

Not Applicable

304813375

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of785 is above the required 700

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of80 is below the maximum allowable of 85%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  post closing cash reserves $171,745.77 or 41.89 months. 0 months required

304813373

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Satisfied

CRDTER4631

Loan parameters do not meet guidelines

Missing verification that this transaction meets requirements for rate term refinance, guidelines 1.4.1.2. Loan purpose appears to be buyout by co-owner pursuant to an agreement. File is missing agreement with specific financial terms and payoffs.

8-20-25 Client uploaded buyout agreement.

8-21-25 Clayton reviewed buyout agreement. Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified reserves of $45,978.92, 35.40 months; no reserves required on rate term refinance.

CFCFS2860: Good credit history
- Clayton Comments: Borrower has a good credit history with no collections, charge offs, judgments or liens with 20 years history.

305061789

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 705 is above the required 660.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves= $338,458.66, 30.55 months. 3 months required.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 80%; guidelines allows 85%.

305061788

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL2277

Note Not Executed

Provide Executed Note.

2.26.26 Uploaded - EXECUTED NOTE2.26.26 exception satisfied

2.26.26 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 781 is above the required 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash reserves= $94,813.36, 100.05 months; 3 months required

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence of 14 years.

305061786

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  76.04 months of reserves are above the required 0

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  713 FICO score is above the 700 min.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  74.153% LTV is below the 80% max.

305061779

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 percent tolerance fail of $135.70. Due to Transfer Txes increased on CD issued 02/12/2026 with no/invalid internal COC in file. Provide Internal COC reflecting valid reason for the fee changes within 3 business days of change or PCCD with cure, copy of cure check, LOE to Borrower and Evidence of delivery via shipping method including tracking, within 60 days of consummation.

3.4.26-Client provided CD issued 3/3/26, LOX, Shipping label, and copy of cure check. Satisfied.

3.4.26- Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets: $187,453.45, 22.28 months; 12 months Required.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 771 is 51 points above minimum program requirement of 720.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 17.41% is below the guideline maximum of 50%.