Exception Detail

Run Date - 05/21/2026 6:35:12 AM

Evolve Loan ID Customer Loan ID Seller Loan ID Loan Exception ID Exception ID Exception Date Exception Type Exception Category Exception Subcategory Exception Exception Detail Exception Information Exception Remediation Compensating Factors Follow-up Comments Cleared Date Cured Date Waived Date Exception Level Grade Exception Level Rating Note Date Property State Occupancy Purpose Overall Initial Loan Grade Overall Final Loan Grade Credit Initial Loan Grade Credit Final Loan Grade Compliance Initial Loan Grade Compliance Final Loan Grade Property Initial Loan Grade Property Final Loan Grade Originator QM ATR Status TPR QM ATR Status Is Curable
BRAVO 2026-NQM5 1000918 XXXXXXXXX XXXXXXX 7321686 72 XXXXXXXXXX Compliance Closing Package   Closing Package -    Please provide the XXXXXXXXX XXXXXXXX XXXXXXXXXXX Document received   Client 12/09/2025 10:25 AM; a XXXX is not required unless the loan is qualifying solely on the income of the subject property.  XXXXX loan is qualifying on XXXXXXXXXX XXXX statements.  XXXX XXXXX XXX section XXXXXX page XX

 Reviewer 12/09/2025 10:58 AM;

 Reviewer 12/09/2025 11:21 AM; Hello
XXXXX is a cash-out refi.  XXXX lock this is XXXXX  XXX need either a XXXX or attestation stating that the cash-out will not be used for personal/household use.

XXXXXX

 Client 12/10/2025 01:10 PM; Per guideline XXXXXX XXXXX XXXXXXXX XXXXXXXXX XXXXXX XXXXXXXXXXX page XXX per the XXXXX section guideline clearly states a business purpose attestation is only required when the borrower is qualified using XXXXX the subject property’s actual market cash flow.  XXXXX loan was XXXX qualified using the subject property’s market cashflow it was qualified using XXXX statement income.  XXXX guideline XXXXXXXXX XXXXXXXX XXXXXXXXXXXX is XXXX required for a loan qualified off

 Reviewer 12/10/2025 01:51 PM; Hello
XXXXX loan is a cash-out refi and we need to determine what the cash out is being used for.  XX XXX affidavit or a XXXXXXXXXXXX reflecting cash out is not being used for personal/household use is needed.

XXXXXX

 Reviewer 12/10/2025 02:04 PM;

 Client 12/10/2025 02:10 PM; This is a XXXX XXXX loan. XXXXXXXXX has established ability-to-repay this loan along with all other obligation.  XXXXXXXX a XXXX purpose attestation nor a cash out purpose letter is required.  XXXXXX may be used for debt consolidation, investing, vacation, etc.  XXXX purpose attestation is only required when the only qualifying income is rent from subject.

 Reviewer 12/10/2025 02:18 PM;

 Reviewer 12/10/2025 02:44 PM; Hello
XXXXXXXX the XXXX or the XXXXXXXXXXXX this loan will be subject to trid and will need to go through compliance testing and will not be considered business purpose.  XXXXX have this assigned for compliance testing tomorrow.

XXXXXX

 Client 12/15/2025 11:21 AM; please clear - XXXXXX report passing XXXX

 Reviewer 12/15/2025 11:36 AM;

 Reviewer 12/15/2025 11:39 AM; Hello
XXXXX has been cleared.

XXXXXX

 12/15/2025     A 1 XXXXXXXXXX OR 3 13 C   A   A   A   C   A   A   A     Exempt 1
BRAVO 2026-NQM5 1000888 XXXXXXXXXX XXXXXXXXXX 7272464 1018 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Self-Employed verify
business		   A XXXX statement income analysis worksheet was not
provided.  XXXXXXXX XXXX statement income analysis
worksheet.		 Received XXXX statement income worksheet     12/02/2025     A 1 XXXXXXXXXX FL 1 1 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000882 XXXXXXXXXX XXXXXXXXXX 7321026 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide a final XXXXX XXXXXXXXXXXXXXXX Revised XXXXX provided    Reviewer 01/24/2026 02:34 PM; The XXXXX has interest rate of XXXXXXXXX XXXX rate on the note is XXXXX

 01/27/2026     A 1 XXXXXXXXXX NY 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000882 XXXXXXXXXX XXXXXXXXXX 7321159 320 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Asset Other   Missing the XXXXXXXXXX XXXX statement for XXXXX of XXXXXXXX XXXXXXX confirming a balance of XXXXXXXXXXXXXX as stated on final XXXXXXX XXXX file only has the XXXXXXXXXX statement. Received XXXXX statement     01/24/2026     A 1 XXXXXXXXXX NY 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000882 XXXXXXXXXX XXXXXXXXXX 7315213 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Please provide the XXXXXXXXXXXX XXXXXXXXXXX Information provided     01/26/2026     A 1 XXXXXXXXXX NY 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000882 XXXXXXXXXX XXXXXXXXXX 7314154 862 XXXXXXXXXX Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - Other:   Please provide updated XXXXXXXXXXX XXXXXXXX XXXXXX to the deed that correctly reflects the XXXXXXXXX XXXXXXXXXXX XXXXXXXX XXXXXX Information provided   Client 01/22/2026 04:12 PM; uploaded lock removing prepay - please update this deficiency to "provide intent to re-record removing prepay"

 Reviewer 01/22/2026 06:18 PM;

 Reviewer 01/23/2026 10:49 AM; Lock updated to reflect no XXXXXX XXXXXXX provide copy of updated XXXX w/o the rider box checked for the XXXX and provide letter of intent to re-record.

 Reviewer 01/23/2026 10:49 AM; Hello
XXXXXXXXXXX has been updated.

XXXXXX

 Reviewer 01/27/2026 01:05 PM; rec''''vd corrected XXXX - still need XXXX to re-record

 01/28/2026     A 1 XXXXXXXXXX NY 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000882 XXXXXXXXXX XXXXXXXXXX 7314155 861 XXXXXXXXXX Credit Note   Note - Other:   Please provide updated XXXXXXXXXXX XXXXXXXX XXXXXXXXX to the note that correctly reflects the XXXXXXXXX XXXXXXXXXXX XXXXXXXX XXXXXX no XXX     01/27/2026     A 1 XXXXXXXXXX NY 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000869 XXXXXXXXXX XXXXXXXXXX 7358866 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Exception approval is required for a XXXXX XXXXXXXX XXXXXXXXXX secured by a vacant property.   Exception request approved by XXXXXXX XXXXXXXXXXX XXXXXXXXX XXXX XXXX XXXXX more than XX mos reserves Reviewer 12/18/2025 10:56 AM; The exception request was received. XXXX exception approval signed and dated with compensating factors was not received.

     12/22/2025 B 2 XXXXXXXXXX CA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000869 XXXXXXXXXX XXXXXXXXXX 7358867 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing XXXXX XXXXXXXX rate lock confirmation Received XXXXX XXXX     12/11/2025     A 1 XXXXXXXXXX CA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000869 XXXXXXXXXX XXXXXXXXXX 7358919 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing the following documents on the borrowing entity XXXXXXXXX of XXXXXXXXXXXXXXXXXXXXXXXXX of XXXXXXXXXX and a XXXXXXXXXXXX of XXXXX XXXXXXXXXX Received XXXXXXXX of XXXXXXXXXXXX   Reviewer 12/16/2025 12:26 PM; Document provided did not include XXXXXXXXX of XXXXXXXXXXXXXXXXXXXXXXXXX of XXXXXXXXX

 12/17/2025     A 1 XXXXXXXXXX CA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000895 XXXXXXXXX XXXXXXXXX 7359660 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide fraud report Received XXXXXX report with alerts cleared     12/14/2025     A 1 XXXXXXXXXX OR 1 1 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000895 XXXXXXXXX XXXXXXXXX 7359661 336 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Provide business XXXX statement analysis worksheet confirming monthly income of XXXXXXXXXXXXX Received income calculation worksheet     12/14/2025     A 1 XXXXXXXXXX OR 1 1 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000889 XXXXXXXXX XXXXXXXXXXXXX 7409657 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Provide an appraisal review or secondary valuation in accordance with guidelines. XXXXX the initial appraisal was provided. Received XXX     12/22/2025     A 1 XXXXXXXXXX FL 3 13 C   A   A   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000894 XXXXXXXXX XXXXXXXXXX 7644721 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     01/16/2026     A 1 XXXXXXXXXX MO 1 1 C   A   C   A   C   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000894 XXXXXXXXX XXXXXXXXXX 7644722 970 XXXXXXXXXX Compliance Compliance   Compliance - CD- Missing   Initial XXX is missing. Information provided     01/16/2026     A 1 XXXXXXXXXX MO 1 1 C   A   C   A   C   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000894 XXXXXXXXX XXXXXXXXXX 7672816 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Provide secondary valuation as XXX score is > XXXXXX Received XXX     01/16/2026     A 1 XXXXXXXXXX MO 1 1 C   A   C   A   C   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000894 XXXXXXXXX XXXXXXXXXX 7672817 389 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Fraud Alert documentation   Provide the XXXXXX XXXXXX Drive XXXXXXX provided      01/19/2026     A 1 XXXXXXXXXX MO 1 1 C   A   C   A   C   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000885 XXXXXXXXX XXXXXXXXX 7474826 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   Provide a secondary valuation as XXX score was not determined. CDA provided    Client 12/30/2025 11:15 AM; we do not order XXXXX for XXXXXX you order your own

 Reviewer 12/30/2025 11:36 AM;

 Client 12/30/2025 02:17 PM; XXXXXXXXX_Appraisal XXXXXXXXXXX Review_X_XXXXXX.pdf  XXXXXXXXXXX XXXXXXXXX XXXXX XXXXXXXXX XXXX XXXXXXXXX_Appraisal XXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXX XXXXXXXXXXXXXXX - both reviews uploaded please clear thank you for reviewing!

 Reviewer 12/30/2025 05:13 PM;

12/30/2025     A 1 XXXXXXXXXX NJ 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000885 XXXXXXXXX XXXXXXXXX 7476064 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing an XXXXXXXXXX XXXXXXXXXX for the borrowing entity that states the ownership percentage of all members The binding/signing authority is there.  XXXXXX is another document reflecting guarantor is XXXXX owner, and no suggestion of any other owner was ever found   Client 12/30/2025 02:13 PM; XXXXXXXXX_Business XXXXXXXXXXXXX - XXXXX XXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXX XXXXXXXXXXX XXXXXXXX - please see state of new jersey business registration confirmation filing showing clearly borrower is XXXXX owner - see section ownership type and owners - this document was in file since XXXXXXXX please waive condition thank you for reviewing !

 Reviewer 12/30/2025 05:12 PM;

12/30/2025     A 1 XXXXXXXXXX NJ 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000903 XXXXXXXXX XXXXXXXXX 7409454 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing closing protection letter CPL provided     12/22/2025     A 1 XXXXXXXXXX FL 1 1 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000910 XXXXXXXXX XXXXXXX 7646439 317 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Hud-1 from sale   Provide the XXXXXX XXXXXXXXXXXXXX XXXXXXXXXX shows cash to seller of XXXXXXXXXXXXXX for the borrowers'''' departure residence.  XXXXXX are required for cash-to-close on subject property and reserves assets. XXXXX the sales contract and prelim XXX was provided Signed XXX provided XXXXXXXXXXXXXX proceeds to seller      01/21/2026     A 1 XXXXXXXXXX MI 1 1 D   A   C   A   A   A   D   A     Non-QM 1
BRAVO 2026-NQM5 1000909 XXXXXXXXX XXXXXXXXX 7411822 12 XXXXXXXXXX Valuation Appraisal   Appraisal - Property address and legal description does not does not match docs   Please provide updated appraisal that reflects the correct property address. XXXXXXX Information provided   Reviewer 12/30/2025 05:24 PM; property address on uploaded appraisal is still incorrect - this is a XX unit property address should read XXXXX and XXXXX XXXXXXX XXXXX

 01/07/2026     A 1 XXXXXXXXXX CO 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000909 XXXXXXXXX XXXXXXXXX 7411823 184 XXXXXXXXXX Credit Flood Certificate   Flood Certificate - Property address incorrect or missing   Please provide updated flood certificate that reflects the correct property address. XXXXXXX Information provided     01/23/2026     A 1 XXXXXXXXXX CO 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000909 XXXXXXXXX XXXXXXXXX 7411824 204 XXXXXXXXXX Credit Hazard Insurance   Hazard Insurance - Property address (legal description acceptable) missing   Please provide updated hazard policy that reflects the correct property address. XXXXXXX Information provided     01/07/2026     A 1 XXXXXXXXXX CO 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000908 XXXXXXX XXXXXXX 7510773 879 XXXXXXXXXX Credit Application   Application - Other:   Initial application must be signed by borrower and XXXX Information provided     01/12/2026     A 1 XXXXXXXXXX IN 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000908 XXXXXXX XXXXXXX 7510774 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Please provide the XXXXXXXXXX XXXXXXXXXX for XXXXXXXXXX XXXXXX XXXXX Information provided     01/07/2026     A 1 XXXXXXXXXX IN 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000908 XXXXXXX XXXXXXX 7510775 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Please provide the lender''''s approval.       01/14/2026     A 1 XXXXXXXXXX IN 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000908 XXXXXXX XXXXXXX 7514943 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The XXXXXX XXXXXXXXXX XXXXXXXXXXX XXXXX XXXXXXXXX of XXXXXXXXXXXXXXXXXXXXXXXXX of XXXXXXXXXXX XXXXXXXXXXXX of XXXXX XXXXXXXXX and XXXXXX of at least XX years management experience (required for the exception grated) are all missing from the loan file. XXXX credit review is on hold until these documents are receievd. Documents received     01/07/2026     A 1 XXXXXXXXXX IN 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000908 XXXXXXX XXXXXXX 7574534 350 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW - LTV/CLTV does not meet parameters   Exception approval is required for a XXXXX XXXXXXXX XXXXXXXXX XXXXXXXXXX transaction with a final XXXX exceeding XXXX (actual is XXXXX   Exception approval is granted for a XXXXX XXXXXXXX XXXXXXXXX XXXXXXXXXX transaction with a final XXXX exceeding XXXX (actual is XXXXXX subject to the following conditions: XXXX XXXXX of at least XXXXX (actual is XXXXXXXX XXXX XXXXXXXX of six months'''' reserves (actual XXXXXXX months) and XXXX XXX least two years'''' experience as a XXX investor XXXXXXXXXXXXXXXX not received).  XX deficiency has been added for the required documentation as the exception approval cannot be cleared without all conditions being met.         01/07/2026 B 2 XXXXXXXXXX IN 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000908 XXXXXXX XXXXXXX 7574697 350 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW - LTV/CLTV does not meet parameters   Missing documentation confirming a least XX years'''' experience as a XXX investor which is required as part of an exception approval granted for and XXXX of XXXXX LLC was formed XXXXXX     01/07/2026     A 1 XXXXXXXXXX IN 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000879 XXXXXXXXX XXXXXXXXXX 7514849 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application must be signed by borrower and XXXX Information provided   Client 01/06/2026 01:53 PM; XXXXXXXXXX_TDOC_XXXX initial XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXX XXX - XXXXX uploaded please clear XXXXXX you for reviewing!

 Reviewer 01/06/2026 02:16 PM; Hello
XXXXXXXXXX will be reviewed within XXX hours of upload.  XXXXXXXXX reminder that you do not need to escalation notification of uploads.  XXXXXXXXX documents are automatically routed to the appropriate team and will be reviewed within XXX hours of upload.  XXXXXXXXXXXXX is not needed unless we have exceeded our XXX hour turn time. 

XXXXXXX

 Reviewer 01/06/2026 02:35 PM;

01/06/2026     A 1 XXXXXXXXXX FL 2 1 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
BRAVO 2026-NQM5 1000879 XXXXXXXXX XXXXXXXXXX 7493286 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     01/06/2026     A 1 XXXXXXXXXX FL 2 1 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
BRAVO 2026-NQM5 1000879 XXXXXXXXX XXXXXXXXXX 7493356 846 XXXXXXXXXX Compliance Disclosure   Disclosure - Missing initial disclosure within 3 days of application   Need the XXXXX issued within XX days of XXXXX application date. Information provided   Client 01/06/2026 01:52 PM; XXXXXXXXXX_TDOC_XXX XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXX XXX - document uploaded please clear XXXXXX you for reviewing!

 Reviewer 01/06/2026 02:16 PM; Hello
XXXXXXXXXX will be reviewed within XXX hours of upload.  XXXXXXXXX reminder that you do not need to escalation notification of uploads.  XXXXXXXXX documents are automatically routed to the appropriate team and will be reviewed within XXX hours of upload.  XXXXXXXXXXXXX is not needed unless we have exceeded our XXX hour turn time. 

XXXXXXX

 Reviewer 01/06/2026 02:35 PM;

01/06/2026     A 1 XXXXXXXXXX FL 2 1 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
BRAVO 2026-NQM5 1000873 XXXXXXXXX XXXXXXXXX 7476542 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   The subject property is in a rural area which is prohibited under the Non-Prime 12 month bank statement program. Rural is allowed on non-prime XXXX statement program, with XXXX and XXXXX restrictions. XXXXX was XXXX XXXX XXXXXXX    Client 01/14/2026 03:46 PM; Hi team, is the lock issue cleared or is the property type the issue and this a hard stop? XXXXXXXX

 Reviewer 01/14/2026 06:56 PM;

 Client 01/20/2026 01:09 PM; Rural is allowed on non-prime XXXX statement program, with XXXX and XXXXX restrictions.

 Reviewer 01/20/2026 02:40 PM;

01/20/2026     A 1 XXXXXXXXXX AZ 1 1 C   A   C   A   A   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000873 XXXXXXXXX XXXXXXXXX 7476681 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing SSA-89 results or SSA-89 card. Received XXXX XXXXX     01/05/2026     A 1 XXXXXXXXXX AZ 1 1 C   A   C   A   A   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000877 XXXXXXXXX XXXXXXXXX 7477990 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Need updated lock confirmation to reflect the loan program as XXX months personal XXXX statements. XXXXX confirmation has XXX months business statements. Received revised XXXXX confirmation reflecting XXX months personal XXXX statements   XXXXXXXXXXXX 01/14/2026     A 1 XXXXXXXXXX IL 1 1 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000902 XXXXXXXXX XXXXXXXXXXXXX 7646154 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Max XXXX XXXXX XXXX XXXXXXXXXXXX XXXXXXXX is XXXX XXXXX   Client waived with compensating factors: XXXXX XXXX when minimum requirement of XXXXX experienced investor, XXX months reserves when XX required.        01/13/2026 B 2 XXXXXXXXXX MO 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000874 XXXXXXXXX XXXXXXXXXXXXX 7664812 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Please provide the XXXXXXXXX XXXXXXXXX for XXXXXXXX XXXXXXXXX Information provided     01/16/2026     A 1 XXXXXXXXXX VA 3 13 D   A   D   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000874 XXXXXXXXX XXXXXXXXXXXXX 7671064 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Provide secondary valuation as XXX score is > XXXXXX CDA provided      01/15/2026     A 1 XXXXXXXXXX VA 3 13 D   A   D   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000874 XXXXXXXXX XXXXXXXXXXXXX 7671065 998 XXXXXXXXXX Credit UW Other   UW Other - UW - Title Commitment is missing or requires correction.   Loan XXXXXXX on XXXXXX XXXXXXX XXXXXXXXXXXXXX does not match XXXXXXXXX XXXXX XXXXXXX XXXXXXXXXXXXXXX Revised commitment provided      01/15/2026     A 1 XXXXXXXXXX VA 3 13 D   A   D   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000864 XXXXXXXXXXXXX XXXXXXXXXXXXX 7497351 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   The borrower is using rental income from leases on an investment property owned; however they are missing evidence of XX months receipt of the rental payments.   Client waived with compensating factors: XXXX borrower
has XX months of reserves and the required reserves is XX
months. XXXX XXXXX is XXXX required XXXXX is XXXXXX XXXX
borrower has been self employed XX years with XX years
required.		       12/31/2025 B 2 XXXXXXXXXX WA 1 1 C   B   C   B   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000864 XXXXXXXXXXXXX XXXXXXXXXXXXX 7497626 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing the borrowers government issued identification and either SSA card or SSA-89 results. Required for all borrowers. Please submit. Received XXXX XXXXX     01/05/2026     A 1 XXXXXXXXXX WA 1 1 C   B   C   B   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000921 XXXXXXX XXXXXXX 7496187 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Please provide the initial application for proof of initial application date. Information provided   Reviewer 01/05/2026 05:19 PM; File is corrupt

01/07/2026     A 1 XXXXXXXXXX NJ 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000896 XXXXXXXXXXX XXXXXXXXXXX 7549030 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Sure. XXXXXXXX XXXXX XXXXX XXXXXXXXXXXXXXX  XXXXX will assess the lock for accuracy prior to finalizing the loan purchase. Received XXXXX XXXX     01/08/2026     A 1 XXXXXXXXXX CA 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000896 XXXXXXXXXXX XXXXXXXXXXX 7549031 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   Provide secondary valuation as XXX score was not determined. Received XXX     01/08/2026     A 1 XXXXXXXXXX CA 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000896 XXXXXXXXXXX XXXXXXXXXXX 7513994 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application must be signed by borrower and XXXX Information provided     01/08/2026     A 1 XXXXXXXXXX CA 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000896 XXXXXXXXXXX XXXXXXXXXXX 7513995 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Loan must contain the XXXXX XXXXX confirmation. Information provided     01/08/2026     A 1 XXXXXXXXXX CA 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000872 XXXXXXXXXX XXXXXXXXXX 7518694 72 XXXXXXXXXX Compliance Closing Package   Closing Package -    Please provide the lender''''s approval. Information provided     01/12/2026     A 1 XXXXXXXXXX CA 1 13 C   B   A   A   C   A   C   B     Non-QM 1
BRAVO 2026-NQM5 1000872 XXXXXXXXXX XXXXXXXXXX 7513648 897 XXXXXXXXXX Compliance Compliance   Compliance - TRID CD- Other   Need a XXXXX with XXXX XX recording fees itemized between XXXXX and XXXXXXXXXX Information provided     01/12/2026     A 1 XXXXXXXXXX CA 1 13 C   B   A   A   C   A   C   B     Non-QM 1
BRAVO 2026-NQM5 1000872 XXXXXXXXXX XXXXXXXXXX 7560990 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Missing the formal exception approval for the property designated as rural; need approval with compensating factors listed. XXXXXXXXXXXXXXX in the file did not indicate violation per guideline or compensating factors for approval.   Client waived with compensating factors: XXXX XXXX of XXXXX self-employed for XXXXXXX XXXXXXX (required XXXXXXXXXXX reserves after close XXXXXXXXXXXXXX XXXXXXXXXXXXXXX  Client 01/07/2026 11:04 AM; Exception in file includes the compensating factor: XXXX XXXXX XXXXXXXXXX  XXXXXX is not a specific XXXXXXXXXX to reference.  XXXX restriction excluding rural properties is on the XXXXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXXXXX XXXXXXXXXXXXX XXXXXXXX

 Reviewer 01/07/2026 12:10 PM;

    01/07/2026 B 2 XXXXXXXXXX CA 1 13 C   B   A   A   C   A   C   B     Non-QM 1
BRAVO 2026-NQM5 1000872 XXXXXXXXXX XXXXXXXXXX 7561321 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   Provide secondary valuation as XXX score was not determined. Field XXXXXXX provided    Client 01/14/2026 11:11 AM; As per XXX guide there is no specific requirement which form is required for XXXXX review

 Reviewer 01/14/2026 11:45 AM;

01/14/2026     B   2 XXXXXXXXXX CA 1 13 C   B   A   A   C   A   C   B     Non-QM 1
BRAVO 2026-NQM5 1000884 XXXXXXXXXX XXXXXXXXXX 7582663 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The credit report, loan approval and exception for recent default are missing from the loan file. XXXX credit review is on hold until all documents are received. Credit report received. XXXXXXXX additional finding for other missing docs     01/08/2026     A 1 XXXXXXXXXX IL 3 3 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000884 XXXXXXXXXX XXXXXXXXXX 7584126 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Transactions with less than XXX months seasoning from foreclosures are ineligible. XXXX subject property has a notice of default that was released XXXXXXXXXXXX XXXXXXX in file reflect a possible exception approval; however, the exception approval is missing from the file. The XXXX release shows a date of XXXXXXXXXXXX XXXX and XXXX statements provided    Client 01/23/2026 01:06 PM; please confirm file includes proof of when the account was brought current and there was no foreclosure, then the exception is approved.



 Reviewer 01/23/2026 01:48 PM; Please provide proof of when the account was brought current. XXXXXXXX of foreclosure was provided.

 Reviewer 01/23/2026 01:49 PM; Added follow-up to condition. XXXXXXX provide proof of when the account was brought current

 Client 01/27/2026 01:21 PM; The XXXX uploaded on XXXXX shows a date of XXXXXXXXXX - does this satisfy the condtion?

 Reviewer 01/27/2026 02:23 PM;

01/27/2026     A 1 XXXXXXXXXX IL 3 3 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000884 XXXXXXXXXX XXXXXXXXXX 7573714 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application in file is not signed by XXXXX XXXXXXX provide initial application signed by both XXXXXXXXX and XX Information provided     01/12/2026     A 1 XXXXXXXXXX IL 3 3 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000884 XXXXXXXXXX XXXXXXXXXX 7573878 861 XXXXXXXXXX Credit Note   Note - Other:   Loan closes in an XXXXXX XXX loan closes in an XXXX - XXXXX must contain a XXXXXXXXXXX XXXXXXXXXXXXX XXXXXXXXX XXXXXXXXX is missing from file. XXXXXXX provide XXXXXXXXX XXXXXXXXXXXXXXXXXXX XXXXXXXXXXXX Information provided     01/12/2026     A 1 XXXXXXXXXX IL 3 3 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000898 XXXXXXXXX XXXXXXXXX 7585063 265 XXXXXXXXXX Credit UW Collateral   UW Collateral - UW - FNMA 1007 / FNMA 216   Missing XXXXX XXXXX with the stated estimated monthly market rent of the subject.  XXXX XXXXX in the file is blank in the required field. Revised XXXXX provided      01/15/2026     A 1 XXXXXXXXXX OR 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000898 XXXXXXXXX XXXXXXXXX 7585420 374 XXXXXXXXXX Credit UW Other   UW Other - UW - Evidence of legal residency   Missing documentation confirming that the borrower is a XXXXXXXXXX XXXXXXXXX XXXXXX was stated on the final XXXXXX  XXXXXXXXX revised XXXX   Client 01/15/2026 07:33 AM; Hi team, bwr is XXX XXXXXXXXX the XXXXX was marked incorrectly. XX have included an email from the borrower confirming he is a citizen. XXX we just need to correct the XXXXX or can this be waived? thanks!

 Reviewer 01/15/2026 08:21 AM;

 Reviewer 01/15/2026 08:21 AM; Please provide a corrected XXXXXX

 Client 01/15/2026 08:27 AM; Corrected XXXXX uploaded, thank you for reviewing, XXXXXX 


 Reviewer 01/15/2026 10:32 AM;

01/15/2026     A 1 XXXXXXXXXX OR 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000923 XXXXXXXXXX XXXXXXXXXX 7587415 392 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Debt Clarification   Missing satisfactory explanation as to status of the borrowers residency. Final 1003 indicated no primary housing expense. Provide evidence of residency and proof of zero housing expense. received loe     01/24/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000923 XXXXXXXXXX XXXXXXXXXX 7573143 72 XXXXXXXXXX Credit Closing Package   Closing Package -    POA in file reflects the incorrect loan amount.  XXXXXXX provide corrected XXXXXX Information provided     01/22/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000905 XXXXXXXXXX XXXXXXXXXX 7596889 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing the XXXX card or XXXXXXX results, required for all borrowers. XXXXXXX submit. Received XXXX match     01/11/2026     A 1 XXXXXXXXXX CA 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000865 XXXXXXXXXX XXXXXXXXXX 7638489 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The credit report is missing from the loan file. XXXX credit review is on hold until documents are received. Credit report received     01/15/2026     A 1 XXXXXXXXXX FL 1 1 A   A   A   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000904 XXXXXXXXXX XXXXXXXXXX 7648057 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Guidelines require that all XXXX members with an ownership interest of XXXX or more must provide a XXXXXXXXX XXXXXXXXXX credit report and signed initial and final XXXXXXXXXXXXXXXXXXX  XXXX XXXXXXXXXX XXXXXXXXXX states that XXXX XXX XXXXXX has a XXXX ownership interest.   Exception approval received for XXXX member not being a guarantor. XXXXXXXXXXXXX XXXXXXXX - XXXX XXXX investor purchase- max XXXXX score XXXX minimum XXXXX and more than XX months reserves. Reviewer 01/14/2026 10:33 AM; Documents provided did not include the  XXXXXXXXX XXXXXXXXXX credit report and signed initial and final XXXXXXXXXXXXXXXXX for XXXX XXX XXXXX

     01/16/2026 B 2 XXXXXXXXXX CA 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000904 XXXXXXXXXX XXXXXXXXXX 7637597 9 XXXXXXXXXX Credit Application   Application - is missing   Initial application with application date and signed by XXXXXXXXX and XXXXX XXXXXXX provide initial application signed by XXXXXXXXX and XXXX with initial application date. Information provided     01/15/2026     A 1 XXXXXXXXXX CA 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000867 XXXXXXXXX XXXXXXXXXXXXX 7787798 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   Second valuation is missing from the file. Received XXXXX XXXXXXXXX score - XXXX    Reviewer 01/23/2026 06:58 PM; Received XXXXX XXXXXXXXXXX XXXX not receive XXX

 01/24/2026     A 1 XXXXXXXXXX OH 2 1 C   A   C   A   A   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000867 XXXXXXXXX XXXXXXXXXXXXX 7787800 318 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Source of Large Deposit   Source of the following large deposits into XXXXX XXXXXXX are missing from the file XXXXXXXX XXXXXXXXXXX XXXXXXXX XXXXXXXXXXXX XXXXXXXX XXXXXX and XXXXXXXX XXXXXXXXXXXX Funds came from XXXXXXXXXX XXXXXXXXX     01/24/2026     A 1 XXXXXXXXXX OH 2 1 C   A   C   A   A   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000901 XXXXXXXXXX XXXXXXXXXX 7674975 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   XXXXXXXXXXXX Received XXXXX XXXXX -  XXXXX will assess the lock for accuracy prior to finalizing the loan purchase.     01/16/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000901 XXXXXXXXXX XXXXXXXXXX 7648236 9 XXXXXXXXXX Credit Application   Application - is missing   Initial XXXXX is missing XXXX received   Reviewer 01/13/2026 08:14 PM; Initial application must be signed by borrower and XX

 01/16/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000901 XXXXXXXXXX XXXXXXXXXX 7658889 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Loan must contain the XXXXX XXXXX confirmation. XXXXXXXXXXXX     01/16/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000915 XXXXXXX XXXXXXX 7651384 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Please provide initial application signed by borrower and XXXX Documents received     01/16/2026     A 1 XXXXXXXXXX CT 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000916 XXXXXXXXX XXXXXXXXX 7670525 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     01/20/2026     A 1 XXXXXXXXXX CA 1 3 C   A   A   A   C   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000916 XXXXXXXXX XXXXXXXXX 7670526 894 XXXXXXXXXX Compliance Compliance   Compliance - TRID LE- Other   Missing XXXX only XXX is provided. Information provided     01/20/2026     A 1 XXXXXXXXXX CA 1 3 C   A   A   A   C   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000907 XXXXXXXXX XXXXXXXXX 7771495 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   The XXXXX of XXXXXXXX exceeds the maximum XXXXX of XXXX for a loan amount less than XXXXXXX for a rate/term refinance. XXXX loan amount is XXXXXXXXXXX   Client waived with compensating factors: XXXXXX XXXXX when XXXXXX is required; XXXXXXX mos reserves when XX mos required; XXXX XXXXX score when XXXX is the min XXXXXX       01/22/2026 B 2 XXXXXXXXXX WI 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000893 XXXXXXXXXXXXX XXXXXXXXXXXXX 7677921 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing the borrowers XXXXXXXXX or XXXXXXX results and the government issued XXXXXXXXXXXXXXX as listed on the XXXX XXXXXXXX XXXX information form which is required for all XXXXXXXXXX resident alien borrowers. SSA XXXXX XXX results show XXXXX     01/20/2026     A 1 XXXXXXXXXX HI 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000899 XXXXXXXXXX XXXXXXXXXX 7687944 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Please provide the initial application for proof of initial application date. Information provided     01/22/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000883 XXXXXXXXXXXXX XXXXXXXXXXXXX 7744208 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application must be signed by borrower and XXXXX XXXXXXX provide an initial application signed by both borrower and XXXX Information provided     01/23/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000952 XXXXXXXXX XXXXXXX 7841924 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing XXXXXXXXXXXX of XXXXX XXXXXXXXX for the borrowing entity Received XXXX for business status     01/26/2026     A 1 XXXXXXXXXX TX 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000906 XXXXXXXXXX XXXXXXXXXX 7772126 72 XXXXXXXXXX Compliance Closing Package   Closing Package -    Funding date of XXXXXXXXX is after review date, please provide evidence of disbursement once loan has funded. Document received     01/29/2026     A 1 XXXXXXXXXX FL 1 13 C   A   C   A   C   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000906 XXXXXXXXXX XXXXXXXXXX 7788559 336 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Guidelines for the X Received XXXX letter confirming ownership of XXXX     01/27/2026     A 1 XXXXXXXXXX FL 1 13 C   A   C   A   C   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000906 XXXXXXXXXX XXXXXXXXXX 7762672 72 XXXXXXXXXX Compliance Closing Package   Closing Package -    The XXXXX is missing from file. Document received     01/27/2026     A 1 XXXXXXXXXX FL 1 13 C   A   C   A   C   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000868 XXXXXXXXX XXXXXXXXX 7896306 336 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Rental income requires XX years tax returns. XXXX guidelines section XXXXXXX XX years XXXXXX required for rental income. XXXXX XXXXXX missing from the file. Per guideline XXXXXXXXX XX for most recent two years or like evidence such as XXXXXX agreements and evidence of deposits for three months... XXXX file contained the XXXXX XXXXXXXXX XX XXXXXXX not used) and XXXXXX agreements. XXXXX XX lease started XXXXXXXX XXXXXXX XXXX proof of security/rent was provided. XXXXX XXX only using XXXX XX and lease and it was approved by XXXXXX   Client 01/30/2026 09:38 AM; The file was underwritten using only the XXXXX returns. XXXX XXXXX returns were never requested from your XXX at all during the process. XX just double checked their income worksheet and there is nothing there about the XXXXXXXXXX XXXXXXX advise if both conditions can be waived.

 Reviewer 01/30/2026 10:38 AM;

 Client 01/30/2026 11:53 AM; Unit XX lease started jan XXXXX we gave the proof of security/rent. 

XXXXX XXX we are only using XXXX XX and lease and it was escalated. XX have uploaded a snip of this to the loan confirming we were told XXXX XX was sufficient.

 Reviewer 01/30/2026 01:09 PM;

01/30/2026     A 1 XXXXXXXXXX FL 1 1 C   A   C   A   A   A   A   A     Safe Harbor QM (APOR) 1
BRAVO 2026-NQM5 1000925 XXXXXXXXXX XXXXXXXXXX 7763293 200 XXXXXXXXXX Credit Hazard Insurance   Hazard Insurance - If Condo, blanket coverage policy is missing    The blanket policy is missing from file. XXXXXXXXX is XXXXXXXXX XXXXX       02/10/2026     A 1 XXXXXXXXXX FL 1 13 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000925 XXXXXXXXXX XXXXXXXXXX 7780834 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide XXXXX XXXXX XXXXXXXXXXXXXXX  XXXXX will assess the lock for accuracy prior to finalizing the loan purchase. Received XXXXX XXXXXXX  XXXXX will assess the lock for accuracy prior to finalizing the loan purchase.     01/23/2026     A 1 XXXXXXXXXX FL 1 13 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000950 XXXXXXXXX XXXXXXX 7974106 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   The XXXXX of XXXXXXXX exceeds the maximum XXXXX of XXXXXXXX for a XXXXXXXX XXXXXXXXX borrower in the XXXXXXXXX XXXXXXXXXXXX in XXXXX program.   Client waived with compensating factors: XXXXXXX mos reserves when XX mos required; XXXX cash down totaling XXXXXXXXXXX       02/02/2026 B 2 XXXXXXXXXX FL 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000949 XXXXXXXXX XXXXXXX 8147951 862 XXXXXXXXXX Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - Other:   PPP XXXXXX is incomplete.  XXXXXXXX XX paragraph XX reflects a blank where the number of months should be.  XXXXXXX provide corrected rider along with XXXX to re-record. No XXX     03/17/2026     A 1 XXXXXXXXXX CA 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000951 XXXXXXXXX XXXXXXX 7969292 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Max XXXX for XXXXX XXXXXXXX XXXXXXXXX is XXXXXX XXXXXXXXX in file to allow XXXX XXXXXX   Client waived with compensating factors: XXXXXXXXX has owned primary residence for XXXXX years,   XX months reserves when the minimum requirement is XXX       02/02/2026 B 2 XXXXXXXXXX FL 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000924 XXXXXXXXXXXX XXXXXXXXXXXX 7976364 875 XXXXXXXXXX Credit Disclosure   Disclosure - Other:   Loan must contain the XXXXX XXXXX confirmation. XXXXXXX provide XXXXX XXXXX XXXXXXXXXXXXXXX Information provided     02/04/2026     A 1 XXXXXXXXXX NJ 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000946 XXXXXXXXX XXXXXXXXXX 8458244 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Please provide the XXXXXXXXX XXXXXXXX XXXXXXXXXXX     Client 03/02/2026 08:08 PM; This has been in the file, please clear this condition as sooon as possible. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 Reviewer 03/03/2026 05:22 AM;

 Reviewer 03/03/2026 10:42 AM; Hello
XXXXX has been cleared.

XXXXXX

 03/03/2026     A 1 XXXXXXXXXX NY 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000946 XXXXXXXXX XXXXXXXXXX 8463260 435 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit report is expired   The credit report is dated XXXXXXXXXXX and expired on XXXXXXXXXXX and the XXXXX date is XXXXXXXXXXXXX XXXXXXXX a new credit report. XX/XX/XXXX credit report provided.   Client 02/27/2026 05:17 PM; The final XXXXX is a compliance issue, not credit, please reassign and clear this condition.

 Reviewer 03/02/2026 05:32 AM;

 Reviewer 03/02/2026 06:48 AM; return to underwriting when received

 Reviewer 03/04/2026 11:34 AM; Credit report received. XXXXX returned to XXXXXXX XXX for review.

 03/04/2026     A 1 XXXXXXXXXX NY 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000946 XXXXXXXXX XXXXXXXXXX 8463406 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The final signed XXX is missing from the loan file. XXXX credit review is on hold until documents are received. Final XXX provided     02/27/2026     A 1 XXXXXXXXXX NY 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000955 XXXXXXXXX XXXXXXX 8300495 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The final signed XXXXXXXXXXXXXX XXXXXXXXXX is missing from the loan file. XXXX credit review is on hold until documents are received. Documents received     02/19/2026     A 1 XXXXXXXXXX MO 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000933 XXXXXXXXX XXXXXXXXX 8385158 435 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit report is expired   Missing credit report dated within XXX days of the note date.  XXXX credit report in the file is dated XXXXXXXXXXX which is XXX days from the note date of XXXXXXXXXXXX Received updated credit report. minimal debt within tolerance.     03/03/2026     A 1 XXXXXXXXXX NM 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000931 XXXXXXXXX XXXXXXXXX 8323607 336 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Missing current lease on the subject property showing monthly rental income of XXXXXXXXX Received lease for subject     02/26/2026     A 1 XXXXXXXXXX OR 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000928 XXXXXXXXX XXXXXXXXX 8322043 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing hazard policy showing all coverages and annual premium amount. Received XXXX for subject property     02/23/2026     A 1 XXXXXXXXXX CA 1 13 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000929 XXXXX XXXXX 8385865 1006 XXXXXXXXXX Credit UW Approval   UW Approval - UW Approval - 1008 or 92900 LT missing   Provide signed and dated XXXXXX Not required     02/24/2026     A 1 XXXXXXXXXX PA 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000932 XXXXXXXXXX XXXXXXXXXX 8386857 861 XXXXXXXXXX Credit Note   Note - Other:   Loan closed in an XXXX and must contain a XXXXXXXXXX XXXXXXXXXXXX XXXXXXX provide XXXXXXXXX XXXXXXXXX / XXXXXXXXXX XXXXXXXXXXXX Information provided     02/25/2026     A 1 XXXXXXXXXX TX 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000932 XXXXXXXXXX XXXXXXXXXX 8399851 378 XXXXXXXXXX Credit UW Other   UW Other - UW - Initial/Final 1003 incomplete/missing   A final signed XXXXX was not provided. Received signed XXXXX (very small signature)   Reviewer 02/25/2026 09:20 PM; The document received did not include the final signed XXXX

 02/27/2026     A 1 XXXXXXXXXX TX 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000930 XXXXXXXXX XXXXXXXXX 8398861 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Guidelines for the XXXXX loan program require six months of rent loss insurance on non-owner occupied income properties when the XXXX > XXXXXX XXXX subject loan XXXX is XXXX and no rent loss insurance was provided. Received XXXX from XXXX XXXXXXXX "other expenses" on XXXX will cover the XX months rent loss.     02/25/2026     A 1 XXXXXXXXXX KY 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000943 XXXXXXXXXX XXXXXXXXXX 8391521 72 XXXXXXXXXX Credit Closing Package   Closing Package -    The XXXXX XXXXX XXXXXXXXXXXXX is missing from file Information provided     02/27/2026     A 1 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000943 XXXXXXXXXX XXXXXXXXXX 8391522 108 XXXXXXXXXX Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - is missing.   The XXXX and XXXXXXX are missing from file. Information provided     02/27/2026     A 1 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000943 XXXXXXXXXX XXXXXXXXXX 8406930 350 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW - LTV/CLTV does not meet parameters   Exception approval is required for a XXXXX XXXXXXXX transaction exceeding XXXX XXXXXX XXXXXXX XXXX is XXXXXX           02/27/2026 B 2 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000943 XXXXXXXXXX XXXXXXXXXX 8408343 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Exception approval is required allowing XX investment property loans to the same borrower.  XXXXXXXXXXX require that if there are more than XX loans to the same borrower, XX of the loans must be a primary residence. Cash in hand exceeds documented expenses by more than XXXXXXXX and the XXXXX is XXXXXXXXX   Reviewer 02/27/2026 07:12 PM; Please provide the exception approval specifically stating XX investment loans to same borrower is approved.

 Reviewer 03/09/2026 04:24 PM; Received exception approval with conditions. XXXXXXX provide evidence of the invoices within XXXX days of the application XXXXXXXXXXXX as XXXX as the recouped funds of XXXXXXXXX are documented by invoices from within XXXX days of the application. XXX cash in hand exceeds documented expenses by more than XXXXXXXX then the XXXXX will be XXXXXXXX

 Client 03/17/2026 01:15 PM; X.XXX XXXXX XXXXXXXXX XXXX XXXXXXXXXX XXXXX XXX XXXXXXX XXXXX XXXXXXXXXX XXXXXXX XXXXXXXXX XXX XXXXXX XXXX XXXXXXXXXXX XXXXXX XXXXXX

 Reviewer 03/17/2026 03:53 PM;

03/17/2026     A 1 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000944 XXXXXXXXXX XXXXXXXXXX 8392369 9 XXXXXXXXXX Credit Application   Application - is missing   Page XX of the application is missing from file.       02/27/2026     A 1 XXXXXXXXXX CA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000944 XXXXXXXXXX XXXXXXXXXX 8401978 72 XXXXXXXXXX Credit Closing Package   Closing Package -    XXXXXXXXXXXX       02/27/2026     A 1 XXXXXXXXXX CA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000944 XXXXXXXXXX XXXXXXXXXX 8405937 350 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW - LTV/CLTV does not meet parameters   Exception approval is required for a XXXXX XXXXXXXX transaction exceeding XXXX XXXXXX XXXXXXX XXXX is XXXXXX   Exception approval received from XXXXX for XXXX XXXXXX XXXXXXXXXXXXX XXXXXXXX - score XXXX - minimum XXXX         02/27/2026 B 2 XXXXXXXXXX CA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000966 XXXXXXXXX XXXXXXXXXXX 8584762 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application in file is not dated or signed by XXXXXXXXX or XXXXX XXXXXXX provide initial application, dated, and signed by XXXXXXXXX and XXXXX Information provided     03/09/2026     A 1 XXXXXXXXXX SC 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000938 XXXXXXXXX XXXXXXXXX 8565166 336 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Income Other   The XXXXXXXXXX of XXXXXX XXXXXXXXX provided are not dated.  XXXXXXXXXXX require the XXXX search be XXX days from date of report to closing. Received XXXX within XXX days     03/12/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000937 XXXXXXXXXX XXXXXXXXXX 8523801 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing XXXXX XXXXXXXX rate lock confirmation Received the XXXXX XXXXX XXXXXXXXXXXX   Reviewer 03/03/2026 05:38 PM; The document received is not the XXXXX XXXXX confirmation form

 03/04/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000962 XXXXXXXXX XXXXXXXXXXXXX 8737569 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Max XXXX for XXXXX cash out manufactured home is XXXXXX XXXXXXXXX in file to allow XXXXXX   Client waived with compensating factors: XXXXXXXXXXXX XXXXXXXXXX XXXXXXXXXXX when the minimum requirement is XXXXXX XXXX XXXXX when the minimum requirement is XXXXX XXXX months reserve when XX required.        03/12/2026 B 2 XXXXXXXXXX SC 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000960 XXXXXXXXX XXXXXXXXXX 8736335 327 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Satisfactory 12 mth Rental   Exception approval is required for a XXXXX transaction not having documentation of a XXXXXXXXX rental history.   Approval is granted for a XXXXX transaction not having documentation of a XXXXXXXXX rental history subject to XXXX XXXXX XXXXX XXXX XXXX XXXX and XXXX XXXXX XXXXXXXX XXXXXXXXXXXXX factors are XXXX XXXXX of XXXX XXXX XXXX XXXXXXXX and XXXX XXXXX XXXXXXXX       03/12/2026 B 2 XXXXXXXXXX CT 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000958 XXXXXXXXX XXXXXXXXXX 8679277 434 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Shorts Funds for Reserves   File is short reserves required. XXXXXX  required for reserves were XXXXXXXXXXXXX XXXXX XXXXXXXXXXXX was verified, leaving a shortage of XXXXXXXXXXXXX Received XXXX account with XXXXXXXXX as of XXXXXXX     03/17/2026     A 1 XXXXXXXXXX IL 1 1 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000934 XXXXX XXXXX 8550500 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing XXXXX XXXXXXXX rate lock confirmation. Received XXXXX XXXX     03/03/2026     A 1 XXXXXXXXXX IN 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000972 XXXXXXXXX XXXXXXXXXX 8694706 973 XXXXXXXXXX Credit Compliance   Compliance - CD- Other   Final XXX signed at consummation is missing the issue date. XXXXX XXX is provided it must be fully executed and all sections must be completed.)     Reviewer 03/13/2026 01:16 PM; Settlement statement will not clear def

 Client 03/13/2026 04:15 PM; This is a non owner occ non XXXXX loan, why does the settlement statement not clear the condition?

 Reviewer 03/16/2026 04:24 AM;

 Reviewer 03/16/2026 11:52 AM; Hello
XXXXX has been cleared.

XXXXXX

 03/16/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000964 XXXXXXXXX XXXXXXXXXX 8695018 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide the XXXXXX XXXXXXXX Drive XXXXXXX provided      03/11/2026     A 1 XXXXXXXXXX CT 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000964 XXXXXXXXX XXXXXXXXXX 8695019 387 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Taxes and Insurance documentation   Provide evidence of sufficient XXXXX XXXXX coverage.  XXXXXXXXX assets are insufficient to substitute reserves for XXXXX XXXXX coverage required.  XXX other assets provided. HOI provided includes rent loss    Client 03/10/2026 07:13 PM; Rent loss is reflected on the policy under XXXXXXXXX XXXXXXXX please clear.

 Reviewer 03/11/2026 04:53 AM;

03/11/2026     A 1 XXXXXXXXXX CT 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000964 XXXXXXXXX XXXXXXXXXX 8691013 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application must be signed by borrower and XXXXX Information provided   Client 03/11/2026 03:46 PM; We don''t require the initial XXXXX to be signed, please clear this condition

 Reviewer 03/11/2026 04:11 PM;

 Reviewer 03/12/2026 11:34 AM;

03/11/2026     A 1 XXXXXXXXXX CT 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000936 XXXXXXXXXX XXXXXXXXXX 8629602 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Please provide the fully executed personal guaranty. Received personal guaranty     03/10/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000936 XXXXXXXXXX XXXXXXXXXX 8679124 318 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Source of Large Deposit   Provide source(s) for XX wire transfers of XXXXXXXXXX XXXXXXXXXXXXXXX and XXXXXXXXX XXXXXXXXXXXXXXX sent to the closing agent.  XXXXXXXX XXXX statements confirming the source(s). XXXXXXXX verification the loan would short funds to close. Received source of funds     03/10/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000965 XXXXXXXXX XXXXXXXXXX 8690860 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application must be signed by borrower and XXXX Information provided   Client 03/11/2026 03:35 PM; We don''t require an initial signed XXXXXX

 Reviewer 03/11/2026 03:38 PM;

 Client 03/11/2026 03:41 PM; An XXXXXXXX signed XXXXX is not required.

 Reviewer 03/11/2026 04:10 PM;

 Reviewer 03/12/2026 11:34 AM;

 Reviewer 03/12/2026 11:34 AM;

03/11/2026     A 1 XXXXXXXXXX CT 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000965 XXXXXXXXX XXXXXXXXXX 8697046 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Provide an appraisal review or secondary valuation in accordance with guidelines. XXXX XXXXXXXXXX XXXXX XXXXXXX provided shows a different address than the subject property. Received XXX     03/10/2026     A 1 XXXXXXXXXX CT 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000965 XXXXXXXXX XXXXXXXXXX 8697047 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide the XXXXXX XXXXXXXX Drive XXXXXXX provided      03/11/2026     A 1 XXXXXXXXXX CT 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000948 XXXXXXXXX XXXXXXXXXXX 8763222 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   Provide a secondary valuation as a XXX score was not determined. Received XXXX      03/17/2026     A 1 XXXXXXXXXX NM 3 13 C   A   A   A   A   A   C   A     Exempt 1
BRAVO 2026-NQM5 1000942 XXXXXXXXXXXX XXXXXXXXXXXX 8719919 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Loan must contain the XXXXX XXXXX confirmation.       03/13/2026     A 1 XXXXXXXXXX PA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000942 XXXXXXXXXXXX XXXXXXXXXXXX 8739876 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide XXXXX XXXXX XXXXXXXXXXXXXXX  XXXXX will assess the lock for accuracy prior to finalizing the loan purchase. XXXXXXXXXXXX     03/17/2026     A 1 XXXXXXXXXX PA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000975 XXXXXXXXX XXXXXXXXXX 8895953 601 XXXXXXXXXX Credit Note   Note - Compliance \ Note - POA must be executed, signed and notarized   Loan closes with XXXXXX XXXXXX of XXXXXXXXXX in file are not signed or notarized. XXXXXXX provide XXXXXX signed and notarized.       03/23/2026     A 1 XXXXXXXXXX KY 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000976 XXXXXXXXX XXXXXXXXX 9026328 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   CDA missing from the file. Received XXX     03/25/2026     A 1 XXXXXXXXXX NJ 3 1 C   A   A   A   N/A N/A C   A     Exempt 1
BRAVO 2026-NQM5 1000894 XXXXXXXXX XXXXXXXXXX 7672818 317 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Hud-1 from sale   Provide the XXXXXX XXXXXXXXXXXX XXXXXXXX XXXXXXXXXXX for the sale of the borrowers'''' departure residence to verify sufficient assets for cash-to-close.  XXXX XXXXXXX XXX provided is missing the XXXXXXX XXXXX and signatures. Signed XXX provided XXXX proceeds XXXXXXXXXXXX   Reviewer 01/15/2026 12:58 PM; Return file to underwriting once received.

 01/19/2026     A 1 XXXXXXXXXX MO 1 1 C   A   C   A   C   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000910 XXXXXXXXX XXXXXXX 7646529 262 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW -  Appraisal Report Missing   Provide the initial appraisal dated XXXXXXXXXX and an explanation for requiring two appraisals when only one is required.  XXXXX the appraisal dated XXXXXXXXXXX was provided. XXXX XXXXX XXXX shows two full appraisal were completed and the XXXXXX XXX shows fees charged for two appraisals. Initial XXXXX appraisal and XXXX provided   Reviewer 01/13/2026 10:26 AM; Return to file to uw when received

 Reviewer 01/22/2026 06:09 PM; Received documents. XXXXX returned to XXXXXXX XXX for review.

 01/23/2026     A 1 XXXXXXXXXX MI 1 1 D   A   C   A   A   A   D   A     Non-QM 1
BRAVO 2026-NQM5 1000873 XXXXXXXXX XXXXXXXXX 7476680 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Need revised lock confirmation reflecting the loan as a XXX months business XXXX statement loan. XXXXXXXXXX the loan is locked as a XXXXX XXXXXX Received XXXXX as XXX months XXXX statement   Client 01/09/2026 02:32 PM; hi team, my lock desk has said this is updated with XXXXXXX XXXX you please confirm? thanks!

 Reviewer 01/09/2026 07:13 PM;

 Reviewer 01/09/2026 07:13 PM; The lock dated XXXXXXXXXXX reflects XXXXX XXXX with  XXXXXXXXX

01/13/2026     A 1 XXXXXXXXXX AZ 1 1 C   A   C   A   A   A   C   A     Non-QM 1
BRAVO 2026-NQM5 1000870 XXXXXXXXX XXXXXXXXX 7633342 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Borrower must be self employed in the same business for minimum of XX years per XXXXXXXX XXXXXXX subsection XXXX XXXX XXXXXXXXX has been self-employed in current business since XXXXXXXXX less than XX years. Received over XX years self employment   Client 01/12/2026 04:39 PM; Please request a revised lock showing XXXXX adjustment for XXXXXXX self-employed XXXXXXXXXX to XXXXX)

 Client 01/12/2026 04:43 PM; Disregard prior escalation.  XXXXX self-employment XXXX limit is XXXXXX  XXXXX was formed XXXXXX XXXXXX need proof of self-employment beginning not later than XXXXXXXX XXXX

 Reviewer 01/12/2026 05:17 PM; Transaction XXXX was XXXXXX XXXXX self-employment XXXX limit is XXXXXX XXXXX was formed XXXXXX XXXXXX need proof of self-employment beginning not later than XXXXXXXX (application date).

 Reviewer 01/12/2026 05:18 PM;

 Reviewer 01/12/2026 06:46 PM;

 Reviewer 01/13/2026 10:30 AM; Hello
XXXXXXX team has addressed this.

XXXXXX

 Reviewer 01/29/2026 12:05 PM; Received XXXXX XXXXXXXXXX XXXXXXXXX XX confirming self employment. XXXXXXXX documentation of active business no later than XXXXXXX

 01/29/2026     A 1 XXXXXXXXXX MD 1 1 C   A   C   A   A   A   A   A     Non-QM 1
BRAVO 2026-NQM5 1000884 XXXXXXXXXX XXXXXXXXXX 7584036 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Property profile verifying primary residence XXXXX XX XXXXX XXXXX is owned free and clear with no mortgage history to obtain is missing from the file. XXXX fraud report reflects a current lien XXXXXXXXXX XXXXXXXXXXX however, previous transaction are not reflected or verified in the file. Primary residence is a coop and is not owned. XXXX residents hold an interest in the XXXXXX   Reviewer 01/09/2026 05:28 PM; Document received did not include evidence of property  XXXXX XX XXXXX XXXXX is owned free and clear of any liens.

 01/13/2026     A 1 XXXXXXXXXX IL 3 3 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000871 XXXXXXXXX XXXXXXXXX 7690179 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing the signed and dated final closing disclosure. XXXXX once received the loan may be subject to additonal deficiencies. Received   Reviewer 01/16/2026 07:21 PM; Please return to original XXX upon receipt.

 01/20/2026     A 1 XXXXXXXXXX CA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000952 XXXXXXXXX XXXXXXX 7842298 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Exception approval is required for a XXXXX XXXXXXXX XXXXXXXXX XXXXX XXXX XXXXXXXXXX with an XXXX exceeding XXXXX   Exception is approved for a XXXXX XXXXXXXX XXXXXXXXX XXXXX XXXX XXXXXXXXXX with an XXXX exceeding XXXX (actual XXXXXX subject to XXXX minimum XX months reserves (actual XXXXXXX months- met), XXXX minimum XX years real estate investor (actual XX years - met) and XXXX minimum XXXXX of XXXXXX (actual XXXXXXX not met). Reviewer 01/26/2026 10:54 AM; Exception approval not totally met as a required minimum XXXXX of XXXXXX is not met.

     01/26/2026 B 2 XXXXXXXXXX TX 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000868 XXXXXXXXX XXXXXXXXX 7896307 336 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Income Other   XXXX XXXX transcripts missing from the file. XXXXXXXXX to document rental income per guidelines section XXXXXXX XXXX tax returns not used    Client 01/30/2026 09:38 AM; The file was underwritten using only the XXXXX returns. XXXX XXXXX returns were never requested from your XXX at all during the process. XX just double checked their income worksheet and there is nothing there about the XXXXXXXXXX XXXXXXX advise if both conditions can be waived.

 Reviewer 01/30/2026 11:08 AM;

01/30/2026     A 1 XXXXXXXXXX FL 1 1 C   A   C   A   A   A   A   A     Safe Harbor QM (APOR) 1
BRAVO 2026-NQM5 1000949 XXXXXXXXX XXXXXXX 8116902 861 XXXXXXXXXX Credit Note   Note - Other:   Please provide updated XXXXXXXXXXX XXXXXXXX XXXXXXXXX that reflects the correct prepayment penalty term. XXXXXX XXXXXXXXX in file reflects XXXX as the term) No XXX   Client 02/10/2026 01:39 PM; Note with addendum uploaded XXXXXXXXXXX XXXXXXXX XXX reflects a XXXXXXXXXX XXX XXXXX

 Reviewer 02/10/2026 01:42 PM;

 Reviewer 02/11/2026 11:26 AM; The note still reflects XXXXXX  XXXX last paragraph is section XX says XXXX within XXXX months" ... XXXXX is not correct, it should not reflect XXXXX

 Reviewer 02/11/2026 11:26 AM; Hello
XXXX note still reflects XXXXXX  XXXX last paragraph is section XX says XXXX within XXXX months" ... XXXXX is not correct, it should not reflect XXXXXXX

XXXXXX

 03/17/2026     A 1 XXXXXXXXXX CA 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000924 XXXXXXXXXXXX XXXXXXXXXXXX 7991197 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing a fraud report that states a risk score. Xactus XXXXX XXXXXX provided    Client 02/04/2026 06:01 PM; A score is not required.

 Reviewer 02/04/2026 06:48 PM;

02/04/2026     A 1 XXXXXXXXXX NJ 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000955 XXXXXXXXX XXXXXXX 8287309 970 XXXXXXXXXX Credit Compliance   Compliance - CD- Missing   CD or XXX is missing from file. XXXXXXX provide XXX or XXXX with funded date. Information provided   Client 02/20/2026 09:23 AM; Isn't this a XXXXXXXXXXX XXXXXXXXXXXXX  XX don't handle the file after XXXXXX  please reclassify this deficiency as it effects my workmanship.

 Reviewer 02/20/2026 09:31 AM;

 Reviewer 02/20/2026 11:46 AM; Hello
XXXXX was classified as compliance.  XXXXX has now been cleared.

XXXXXX

 02/20/2026     A 1 XXXXXXXXXX MO 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000944 XXXXXXXXXX XXXXXXXXXX 8408488 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Exception approval is required allowing XX investment property loans to the same borrower.  XXXXXXXXXXX require that if there are more than XX loans to the same borrower, XX of the loans must be a primary residence. Cash in hand exceeds documented expenses by more than XXXXXXXX and the XXXXX is XXXXXXXXX   Reviewer 02/27/2026 07:13 PM; Please provide the exception approval specifically stating XX investment loans to same borrower is approved.

 Reviewer 03/09/2026 04:30 PM; Received exception approval with conditions. XXXXXXX provide evidence of the invoices within XXXX days of the application XXXXXXXXXXXX as XXXX as the recouped funds of XXXXXXXXX are documented by invoices from within XXXX days of the application. XXX cash in hand exceeds documented expenses by more than XXXXXXXX then the XXXXX will be XXXXXXX

 Client 03/17/2026 01:10 PM; X.XXX XXXXX XXXX XXXXXXXXXX XXXXX XXX XXXXX XXXXXXXXXXX XXXXXXX XXXXXX XXXX XXXXXXXXXXX

 Reviewer 03/17/2026 03:53 PM;

03/17/2026     A 1 XXXXXXXXXX CA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000970 XXXXXXXXX XXXXXXX 8721148 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Please provide initial application for proof of initial application date. Information provided   Client 03/12/2026 03:32 PM; We do not need a signed XXXXXX however, XX did condition for it XXXXXX  please clear this condition.

 Client 03/12/2026 03:45 PM; XXXXXXX_DisclosureLoanApplication_XXXXXX.pdfX/XX/XXXX XXXXXXXXX XXXXXXXXXXXXXX XXXXX - XXXXXX uses business application for their initial XXXXXX an initial XXXXX is not required.  XXXXXXX waive condition it does not apply.  XXXXXXX disregard previous escalation from XXXXXXXX this is not her file.  XXXXXX XXXXXXX waive condition, sorry for confusion.  XXXXXX you for reviewing!

 Reviewer 03/12/2026 03:51 PM;

 Reviewer 03/12/2026 03:51 PM;

 Reviewer 03/13/2026 02:38 PM; deficiency has been cleared

 Reviewer 03/13/2026 02:39 PM; Hello,
XXXXXXXXXXX has been cleared

 03/13/2026     A 1 XXXXXXXXXX MO 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000964 XXXXXXXXX XXXXXXXXXX 8695017 387 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Taxes and Insurance documentation   Provide evidence of property insurance.  XXXX evidence provided is not for the subject property. HOI provided    Client 03/10/2026 07:13 PM; Insurance has been in the file, uploaded again, please clear.

 Reviewer 03/11/2026 04:53 AM;

03/11/2026     A 1 XXXXXXXXXX CT 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
BRAVO 2026-NQM5 1000939 XXXXXXXXX XXXXXXXXX 8678661 328 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Satisfactory 12 mth Mortgage   Exception approval required for a mortgage history of XXXXXXXX on a cashout refinance exceeding XXXX XXXX (actual XXXX XXXXXXXX  XXXXXXX supplement dated XXXXXXXXXX shows a XXXXX in XXXXXXXX on the mortgage from XXXXX XXXXX XXXXXXXXX XXXXXXXXX   Received exception approval from XXXXXXX XXXXXXXXXXXXX XXXXXXXX - employed XXX years, residual income XXXXXXXXXX owned primary over XX years. Client 03/12/2026 07:21 AM; Hi team, prior approval granted for the exception has been uploaded by XXXXXX XX and this condition should be good to go. thank you! :)

 Reviewer 03/12/2026 10:10 AM;

    03/12/2026 B 2 XXXXXXXXXX NV 1 13 C   B   C   B   A   A   A   A     Non-QM 1