MOST MORTGAGE DEPOSITOR, LLC ABS-15G
Exhibit 99.4
| Exception Level |
| Run Date - x/xx/xxxx |
| Intent Loan ID | Loan # 1 | Loan # 2 | Loan # 3 | Exception Category | Exception Sub-Category | Exception Status | Exception Grade | Loan Exception ID | Exception | Exception Detail | Exception Information | Compensating Factors | Seller Comments | Reviewer Comments | Exception Remediation |
| XXXXXXXXXXX | 10508613 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Verification Of Occupancy form | 3/30/2026 - MoOM provided executed Verification of Occupancy | 3/31/2026: Exception Resolved, MoOM provided executed Verification of Occupancy | 3/31/2026: Exception Resolved, MoOM provided executed Verification of Occupancy | ||
| XXXXXXXXXXX | 10608534 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Flood Cert (Appraisal indicates that the subject property is not located in a flood zone) | 3/23/2028 -MoOM uploaded Flood Cert | 3/24/2028: Exception resolved, Flood cert provided | 3/24/2028: Exception resolved, Flood cert provided | ||
| XXXXXXXXXXX | 10611375 | XXXXXXX | Credit | Insurance | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Provide updated Insurance | * Provide updated Insurance (Lvl R) | Missing Evidence of active insurance. Insurance policy in file expires on xx/xx/xxxx. | 3/20/2026 - Updated Hazard Insurance policy provided | 3/20/2026: Exception Resolved - Updated Hazard Insurance policy provided | 3/20/2026: Exception Resolved - Updated Hazard Insurance policy provided | ||
| XXXXXXXXXXX | 10625105 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Approved Loan Notification | 4/7/2026 - MoOM provided Loan Approval | 4/7/2026: Exception Resolved, MoOM provided Loan Approval | 4/7/2026: Exception Resolved, MoOM provided Loan Approval | ||
| XXXXXXXXXXX | 10639092 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Loan Approval and Financial Assessment | 3/23/2026 -MoOM uploaded Financial Assessment Worksheet and loan Approal | 3/24/2026: Exception resolved, Loan Approval and Financial Assessment Worksheet provided | 3/24/2026: Exception resolved, Loan Approval and Financial Assessment Worksheet provided | ||
| XXXXXXXXXXX | 10641753 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Financial Assessment Worksheet | 4/21/2026 - MoOM uploaded Loan Approval | 4/21/2026: Exception Resolved, Loan Approval provided | 4/21/2026: Exception Resolved, Loan Approval provided | ||
| XXXXXXXXXXX | 10651206 | XXXXXXX | Valuation | Property | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Missing Third Party Valuation | * Missing Third Party Valuation (Lvl R) | Missing CDA (UW Worksheet indicates that a CDA supporting the value was obtained) | 3/25/2026 - MoOM provided CDA dated x/xx/xxxx | 3/25/2026: Exception resolved, MoOM provided CDA dated x/xx/xxxx which supported the value (x.xx% variance) | 3/25/2026: Exception resolved, MoOM provided CDA dated x/xx/xxxx which supported the value (x.xx% variance) | ||
| XXXXXXXXXXX | 10651588 | XXXXXXX | Credit | Insurance | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Provide updated Insurance | * Provide updated Insurance (Lvl R) | Missing evidence of Hazard Insurance | Credit Score - Credit Score xxx Qualifying credit score | 3/18/2026 - Evidence of active hazard Insurance provided. | 3/18/2026: Exception resolved - Evidence of active Hazard insurance provided. | 3/18/2026: Exception resolved - Evidence of active Hazard insurance provided. | |
| XXXXXXXXXXX | 10654142 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing signature page of Settlement Service Provider list | 3/30/3036 - MoOM provded signature page for Servicer rovider list | 3/31/2026: Exception resolved, MoOM provided executed signature page of Service Provider list | 3/31/2026: Exception resolved, MoOM provided executed signature page of Service Provider list | ||
| XXXXXXXXXXX | 10662302 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Approved Loan Notification | 4/21/2026 - MoOM uploaded Aprroved Loan Notification | 4/21/2026: Exception Resolved, MoOM provided Approved Loan Notification | 4/21/2026: Exception Resolved, MoOM provided Approved Loan Notification | ||
| XXXXXXXXXXX | 10664049 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Survey Affidavit (Required Disclosure - FXX | 4/16/2026 - MoOM upoade Survey Affidavit | 4/17/2026: Exception Resolved, MoOM provided Survey Affidavit | 4/17/2026: Exception Resolved, MoOM provided Survey Affidavit | ||
| XXXXXXXXXXX | 10672813 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Financial Assessment Worksheet | 3/30/2026 - MoOM uploaded Financial Assesment Worksheet | 3/31/2026: Exception resolved, MoOM provided Financial Assessment Worksheet | 3/31/2026: Exception resolved, MoOM provided Financial Assessment Worksheet | ||
| XXXXXXXXXXX | 10675080 | XXXXXXX | Credit | Legal Docs | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan Agreement Missing or Incomplete | * Loan Agreement Missing or Incomplete (Lvl R) | Missing Loan Agreement | 3/31/2026 - MoOM provided the executed Loan Agreement | 3/31/2026: Exception resolved, MoOM provided the executed Loan Agreement | 3/31/2026: Exception resolved, MoOM provided the executed Loan Agreement | ||
| XXXXXXXXXXX | 10675080 | XXXXXXX | Valuation | Value | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Value used by lender not supported | * Value used by lender not supported (Lvl R) | CDA in file (dated x/xx/xxxx) does not support the Value of the Origination Appraisal (-18.561). Financial Assessment in file acknowledges this variance and indicates a Field Review is being obtained. | 4/2/2026 - MoOM provided a Field Review which supported the Original Appraised value. | 4/2/2026: Exception Resolved, MoOM provided the Field review which supported the Original Appraised value. | 4/2/2026: Exception Resolved, MoOM provided the Field review which supported the Original Appraised value. | ||
| XXXXXXXXXXX | 10678470 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Notice of Right to Cancel | 3/31/2026 - MoOM provide the executed Notice of Right to Cancel | 3/31/2026: Exception Resolved, MoOM provided the executed Notice of Right to Cancel | 3/31/2026: Exception Resolved, MoOM provided the executed Notice of Right to Cancel | ||
| XXXXXXXXXXX | 10680396 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Financial Assessment Worksheet | 4/2/2026 - MoOM provided the Financial Assesment Worksheet | 4/3/2026: Exception Resolved, MoOM provided the Financial Assessment Worksheet | 4/3/2026: Exception Resolved, MoOM provided the Financial Assessment Worksheet | ||
| XXXXXXXXXXX | 10680977 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing Approved Loan Notification | 4/16/2026 - MoOM uploaded Approved Loan Notification | 4/17/2026: Exception Resolved, MoOM provided the Approved Loan Notification | 4/17/2026: Exception Resolved, MoOM provided the Approved Loan Notification | ||
| XXXXXXXXXXX | 10683140 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Borrower Identification | * Borrower Identification (M) (Lvl R) | Missing Co-Brwr Verification of ID | 4/16/2026 - MoOM uploaded verification of ID for Co-Brwr | 4/17/2026: Exception Resolved, MoOM provided Verification of ID for Co Brwr | 4/17/2026: Exception Resolved, MoOM provided Verification of ID for Co Brwr | ||
| XXXXXXXXXXX | 10700217 | XXXXXXX | Credit | Guidelines | Resolved | Resolved | XXXXXXXXXX-XXXXXXX | Loan does not conform to program guidelines | * Loan does not conform to program guidelines (Lvl R) | Missing XX Survey Affidavit | 4/30/2026 - MoOM uploaded Survey Affidavit | 4/30/2026: Exception Resolved, MoOM provided a Survey Affidavit. | 4/30/2026: Exception Resolved, MoOM provided a Survey Affidavit. |