EFMT DEPOSITOR LLC ABS-15G

Exhibit 99.05

Schedule 2. Clayton Conditions Detail Report

 

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

2138746

XXXXXX

TX

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 6 years CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  The borrower has a 22 year credit history with 12 open and active tradelines 0X30 CFCFS1747: Housing expense increase is 10% or less - Clayton Comments:  Qualifying PITI is $4363.46, which is >10% less of $4766.91

2138653

XXXXXX

VA

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

B

B

A

A

C

B

C

B

B

B

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

A

C

A

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

No

Please provide confirmation of receipt for CD XXXX.

12.25.25-Client provided screen shot of doc package sent. Provide the rest of e-sign process summary reflecting CD issued XXXX either Reviewed or Signed. (see email sent.) 1.6.26-Client provided e-sign process Summary for CD issued XXXX reflecting log-in on XXXX providing access to documents sent (received). Satisfied.

1.6.26- Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  9.64 months of reserves exceeds guideline requirements of 6 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 26.83% is above the minimum program requirements of 50% CFCFS1737: LTV below guideline requirements - Clayton Comments:  80% LTV for Subject Property is below guideline max LTV of 90% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score728> 68 points of minimum guideline requirements of 660.

2138653

XXXXXX

VA

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

B

B

A

A

C

B

C

B

B

B

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

A

C

A

TRID - CD: Loan consummated before end of waiting period

No

Please provide confirmation of receipt for CD XXXX.

12.25.25-Client provided screen shot of doc package sent. Provide the rest of e-sign process summary reflecting CD issued XXXX either Reviewed or Signed. (see email sent.) 1.6.26-Client provided e-sign process Summary for CD issued XXXX reflecting log-in on XXXX providing access to documents sent (received).Satisfied

1.6.26-Satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  9.64 months of reserves exceeds guideline requirements of 6 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 26.83% is above the minimum program requirements of 50% CFCFS1737: LTV below guideline requirements - Clayton Comments:  80% LTV for Subject Property is below guideline max LTV of 90% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score728> 68 points of minimum guideline requirements of 660.

2138653

XXXXXX

VA

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

B

B

A

A

C

B

C

B

B

B

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Zero Tolerance fail for $200.00.  Appraisal reinspection fee of $200 added to CD XXXX and final CD XXXX.  No documentation provided disclosing addition of fee.  Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

12.25.25-Client provided COC, Satisfied.

12.25.25-Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  9.64 months of reserves exceeds guideline requirements of 6 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 26.83% is above the minimum program requirements of 50% CFCFS1737: LTV below guideline requirements - Clayton Comments:  80% LTV for Subject Property is below guideline max LTV of 90% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score728> 68 points of minimum guideline requirements of 660.

2138653

XXXXXX

VA

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

B

B

A

A

C

B

C

B

B

B

A

A

C

B

Credit

LTV/CLTV

Active

B

B

B

B

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

No

LTV of 80% is greater than 75% for rural property. Upon further review by Sr. Clayton UW, Clayton deems this non-material due to the following compensating factorsBorrower has been on job for 20 years and 5 months, B1 FICO score is 728 and B2 FICO is 714 and 0 x 30 in the last 24 months.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  9.64 months of reserves exceeds guideline requirements of 6 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 26.83% is above the minimum program requirements of 50% CFCFS1737: LTV below guideline requirements - Clayton Comments:  80% LTV for Subject Property is below guideline max LTV of 90% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score728> 68 points of minimum guideline requirements of 660.

2138745

XXXXXX

OH

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 694 exceeds guideline minimum of 680 for a DSCR cash out refinance at 75% LTV. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Post close reserves are $118,745.47, or 89.32 months. 3 months required. CFCFS1736: Significant time at current residence - Clayton Comments:  In residence 8 years.

2138734

XXXXXX

MI

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

N/A

N/A

B

B

B

B

A

A

N/A

N/A

Credit

Terms/Guidelines

Active

B

B

B

B

Loan fails Homex Minimum Equity requirement

No

Appraised value $XXX - Loan amount $XXX = $XXX equity. Guidelines require $XXX.  , Clayton deems this non-material due to the following compensating factorsExperienced investor, LTV 75%, FICO 710, 43 tradelines, 19 years of monthly payments, 5 years on the job, 9 years at present address, No derogs in past 24 months and Permanent financing after rehab.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 9 years. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  238 months credit history exceeds guidelines. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  88+ Months reserves exceeds guidelines.

2123117

XXXXXX

OH

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Provide COC for rate lock ext fee addition of $292.50 on 11/11/25 OR Provide PCCD, LOX, Copy of tolerance check and proof of delivery within 60 days of consummation.

12.9.25-Client provided COC. Satisfied.

12.9.25-Satisfied.

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 45.41% is above the minimum program requirements of 55% CFCFS2854: Significant time in profession - Clayton Comments:  Borrower has significant time at current profession , 18 years and 1 months. CFCFS1736: Significant time at current residence - Clayton Comments:  Borrower has lived at current residence for the past 20 and 2 months. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score 639 > 390 points of minimum guideline requirements of 600.

2125284

XXXXXX

NH

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

B

B

B

B

A

A

A

A

B

B

B

B

A

A

A

A

Credit

Credit/Mtg History

Active

B

B

B

B

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

No

Missing 6 months housing history for B1. Clayton deems this non-material. Compensating factors are 30 years at current residence, 6 months reserves, and 58.05% LTV

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence - Clayton Comments:  The co-borrower has owned the subject property for 30 years CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been at their current employer for 10.4 years CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves, LTV  75% - None Required.  Post close reserves $22,326.47 or 6.79 months PITIA

2138666

XXXXXX

FL

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

D

B

D

A

A

A

C

B

D

B

D

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Zero Tolerance Fee of $XXX due to Lender Credit removed from LE XXX. Provide a valid Change of Circumstance, OR Post Close CD, LOX and copy of refund check to borrower with proof of delivery via tracking method within 60 days of consummation.

2.3.26-Client provided COC, Satisfied.

2.3.26- Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Post close reserves are $19,998.57, or 7.93 months. 6 months required. CFCFS1734: Borrower has significant time at current job - Clayton Comments:  Per state registry borrower has been in business since 6/20/2019. CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 80% is below guideline maximum of 90% for an Alt Doc cash out refinance with a 715 credit score.

2138666

XXXXXX

FL

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

D

B

D

A

A

A

C

B

D

B

D

A

A

A

C

B

Credit

DTI

Satisfied

D

A

D

A

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

No

XXX XXX XXX XXX XXXXXX XXX XXX XXX XXX.

2.04.2026-Client's response:XXX, XXX pmplease find XXX and LOX for XXX.2.04.2026-Clayton's response: Received the LOX which is acceptable, the documents for XXX show a PITI payment of $5,412.50 which puts the DTI at 96%. Exception remains.2.10.2026-Client's response: please find the prop profile release2.10.2026-Clayton's response: Received the evidence of release for XXX, exception satisfied.

2.04.2025-Exception remains.2.10.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Post close reserves are $19,998.57, or 7.93 months. 6 months required. CFCFS1734: Borrower has significant time at current job - Clayton Comments:  Per state registry borrower has been in business since 6/20/2019. CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 80% is below guideline maximum of 90% for an Alt Doc cash out refinance with a 715 credit score.

2138667

XXXXXX

CA

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

Right of Rescission

Satisfied

C

B

C

B

ROR - Disbursement date is before end of statutory rescission period

No

Disbursement date of XXX is before end of statutory rescission period.

2.3.26-Client provided PCCD, Satisfied.

2.3.26-Satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV is 45.99%,max allowed by G/L is 75% CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 23.8 years CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves, LTV  75% - None Required. Post cls reserves $39,694.74 or 7.52 months PITI CFCFS1736: Significant time at current residence - Clayton Comments:  The borrower has occupied the subject property for 21 years

2138667

XXXXXX

CA

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Zero tolerance fail for $2362.50.  Lock extension fee added on CD XXXX.  No documentation provided disclosing addition of fee.  Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

1.26.26-Client provided COC for Rate Loc Ext. Satisfied.

1.26.26-Satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV is 45.99%,max allowed by G/L is 75% CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 23.8 years CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves, LTV  75% - None Required. Post cls reserves $39,694.74 or 7.52 months PITI CFCFS1736: Significant time at current residence - Clayton Comments:  The borrower has occupied the subject property for 21 years

2138668

XXXXXX

AZ

QM: Safe Harbor (APOR)

QM: Safe Harbor (APOR)

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

A

C

A

TRID - CD: Loan consummated before end of waiting period

No

Please provide confirmation of receipt for final LE 10/21/25.

11.17.25-Client provided proof of e-receipt of LE issued 10/21/25. Satisfied.

11.17.25- Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  713 qualifying score exceeds guideline minimum of 620 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  $9031.46 reserves in file or 2.04 months PITI > required guidelines - LTV CFCFS1737: LTV below guideline requirements - Clayton Comments:  40.65% LTV <  guideline max 80%

2138668

XXXXXX

AZ

QM: Safe Harbor (APOR)

QM: Safe Harbor (APOR)

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Zero tolerance fail for $708.50.  Lender credits were $1400 on CD XXXX sequence 1.  Lender credits were reduced to $703.75 on final CD XXXX.  No documentation provided disclosing reduction in credits.  Please provide documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

11.17.25-Client provided COC for decrease of lender credit on 10/27/25 from $712.50 to $703.75. Provide COC for lender credit decrease on 10/23/25 from $1400.00 to 708.25 & lender credit decrease on CD XXXX version1 from $1412.25 to $712.50 on CD XXXX version 2. 11.18.25-Client provided COCs. Satisfied.

11.18.25- Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  713 qualifying score exceeds guideline minimum of 620 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  $9031.46 reserves in file or 2.04 months PITI > required guidelines - LTV CFCFS1737: LTV below guideline requirements - Clayton Comments:  40.65% LTV <  guideline max 80%

2141289

XXXXXX

IL

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  68 MONTHS CREDIT HISTORY EXCEEDS GUIDELINES. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  50+ MONTHS RESERVES EXCEEDS GUIDELINES. CFCFS2860: Good credit history - Clayton Comments:  GUARANTOR DEMONSTRATES GOOD CREDIT HISTORY.

2138669

XXXXXX

ID

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

A

C

A

TRID - CD: Loan consummated before end of waiting period

No

Please provide proof of receipt for CD XXXX.

1.8.26-Client provided CD issued XXXX, e-signed 1/8/26. The initial CD must reflect as received at least 3 business days prior to closing date XXX2.5.26-CORRECTION-Client also provided e-sign process summary reflecting review of CD issuedXXXX. Satisfied.

2.5.26-. Satisfied.

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job - Clayton Comments:  Borrower has significant time at current job, 6 years and 6 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 39.95% is above the minimum program requirements of 50% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  35.73 months of reserves exceeds guideline requirements of  0 months.

2138669

XXXXXX

ID

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Zero Tolerance Fee of $2,096.25 due to Rate Lock Extension fee added on LE 11/4/25. Partial cure proviced iao $665. Provide a valid Change of Circumstance, or Post Close CD, LOX and copy of refund check to borrower with proof of delivery via tracking method within 60 days of consummation.

2.5.26-Client provided COC for XXXX changes forXXXX disclosures on CD 1/7/26. Provide the COC for the initial addition of the Ext. fee on LE 11/4/25 AND its increase on LE 11/24/25. 2.9.26-Client provided COCs, Satisfied.

2.9.26-Satisfied.

Numeric

Not Applicable

CFCFS1734: Borrower has significant time at current job - Clayton Comments:  Borrower has significant time at current job, 6 years and 6 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 39.95% is above the minimum program requirements of 50% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  35.73 months of reserves exceeds guideline requirements of  0 months.

2138689

XXXXXX

NM

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  226 months credit history exceeds guidelines. CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  35+ months reserves exceeds guidelines.

2138671

XXXXXX

MD

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

D

A

D

B

D

B

A

A

D

A

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

C

A

C

A

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

No

Client declared QM Safe APOR, Clayton status is QM Rebuttable APOR due to Benchmark Date XXX, loan has a test APR 7.886%, the Benchmark Rate was 6.240%; Variance 1.646%; max allowed is 1.5000%.

11.18.25 Client response; We accept the determination on this and please clear the exception.11.18.25 Clayton memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon Claytons review.

11.18.25 Clayton memo; exception satisfied;

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves LTV  75% - None Required. Post cls reserves $98,784.39 or 21.27 months PITI CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI is 31.31%, max allowed by G/L is 55%

2138671

XXXXXX

MD

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

D

A

D

B

D

B

A

A

D

A

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

D

A

D

A

TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status.

No

Income verification does not meet guidelines.Missing Bank statements from XXX #XXX for the months of XXX, XXX, XXX, XXX, XXX, & XXX

11.14.2025 Borrower was using XXX for all her income and then opened a business account XXX, this is the reason for not having the requested statements. This information is noted on the income worksheet. Please clear finding. 11.17.2025 After further review, file contains XXX statements with account XXX and XXX statements from account XXX. Client used both statements as XXX was changed to a business account XXX. Exception satisfied

11.17.2025  Exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves LTV  75% - None Required. Post cls reserves $98,784.39 or 21.27 months PITI CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI is 31.31%, max allowed by G/L is 55%

2138671

XXXXXX

MD

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

D

A

D

B

D

B

A

A

D

A

Credit

Ability to Repay/Qualified Mortgage

Active

B

B

B

B

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

No

Client agreed to QM rebuttable PAOR status based upon Clayton review.

(No Data)

(No Data)

Not Applicable

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves LTV  75% - None Required. Post cls reserves $98,784.39 or 21.27 months PITI CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI is 31.31%, max allowed by G/L is 55%

2138671

XXXXXX

MD

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

D

A

D

B

D

B

A

A

D

A

Credit

Income/Employment

Satisfied

D

A

D

A

Income verification does not meet guidelines

No

Missing Bank statements from XXX #XXX for the months of XXX, XXX, XXX, XXX, XXX, & XXX

11.17.2025  Client responded -Borrower was using XXX for all her income and then opened a business account XXX, this is the reason for not having the requested statements. This information is noted on the income worksheet. Please clear finding. 11.17.2025  After further review, file contains XXX statements with account XXX and XXX statements from account XXX.  Client used both statements as XXX was changed to a business account XXX.    Exception satisfied

11.17.2025  Exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves LTV  75% - None Required. Post cls reserves $98,784.39 or 21.27 months PITI CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI is 31.31%, max allowed by G/L is 55%

2138718

XXXXXX

CO

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

A

A

B

B

B

B

A

A

A

A

Credit

Credit/Mtg History

Active

B

B

B

B

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

No

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

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $2610.66 X 3 =  $7831.98.  Post close reserves $40,866.30 or 15.65 months PITI CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Qualifying FICO is 766, minimum required by G/L is 700 CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  The borrower has a 15 year credit history with 4 open and active tradelines 0X30

2138742

XXXXXX

DE

(No Data)

ATR/QM: Exempt

B

A

B

A

A

A

A

A

B

A

B

A

A

A

A

A

Credit

Credit/Mtg History

Satisfied

B

A

B

A

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

No

Missing proof XXX $XXX Judgment has been satisfied.

1.30.2026-Client's response: January 29th 2026, 5:41:31 pmitem was deleted from title, please find supplement.1.30.2026-Clayton's response: Received a supplemental title report; the judgement has been deleted, exception is satisfied.

1.30.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 59.13% is below 80.00% the maximum allowable per lender guidelines CFCFS1739: Positive mortgage payment history - Clayton Comments:  99 months of positive mortgage payment history exceeds 12 months the minimum required per lender guidelines CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 802 exceeds 620 the minimum required per lender guidelines CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified cash reserves in the amount of $118,591.24 exceeds $0.00 the minimum required per lender guidelines

2138715

XXXXXX

IN

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

N/A

N/A

B

B

B

B

A

A

N/A

N/A

Credit

Assets

Active

B

B

B

B

Insufficient # of months cash reserves for PITI per guideline requirements

No

Short $231.15 in cash reserves. Post close reserves are $3,073.11, or 2.79 months. 3 months required. Clayton deems non-material/non-fatal to lending decision due to small amount and compensating factors: Credit score of 702/620 minimum, LTV of 70%/80% maximum and good credit history with no lates since 1992.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 70% is below guideline maximum of 80% for a DSCR Rate/Term refinance with a 702 credit score. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 702 exceeds guideline minimum of 620 for a DSCR Rate/Term refinance at 70% LTV. CFCFS2860: Good credit history - Clayton Comments:  Borrower has never been 1X30 with history from 6/1/1992.

2138672

XXXXXX

TN

QM: Safe Harbor (APOR)

Non-QM: Lender documented all ATR UW factors

C

B

B

B

A

A

C

A

C

B

B

B

A

A

C

A

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

C

A

C

A

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

No

Client declared QM Safe APOR, Clayton status is Non QM due to fees exceeding 3% threshold.

12.17.25 Client response; We accept the determination on this and please clear the exception.12.17.25 Clayton memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon Claytons review.

12.17.25 Clayton memo; exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  118.67 months of reserves exceeds guideline requirements of 0 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 11.54% is above the minimum program requirements of 55% CFCFS1737: LTV below guideline requirements - Clayton Comments:  37.040 LTV for Subject Property is below guideline max LTV of 85% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score 728 > 128 points of minimum guideline requirements of 600.

2138672

XXXXXX

TN

QM: Safe Harbor (APOR)

Non-QM: Lender documented all ATR UW factors

C

B

B

B

A

A

C

A

C

B

B

B

A

A

C

A

Credit

Ability to Repay/Qualified Mortgage

Active

B

B

B

B

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

No

Client agreed to NonQM status based upon Clayton review.

(No Data)

(No Data)

Not Applicable

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  118.67 months of reserves exceeds guideline requirements of 0 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 11.54% is above the minimum program requirements of 55% CFCFS1737: LTV below guideline requirements - Clayton Comments:  37.040 LTV for Subject Property is below guideline max LTV of 85% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score 728 > 128 points of minimum guideline requirements of 600.

2138720

XXXXXX

WI

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  30+ months reserves exceeds guidelines. CFCFS1739: Positive mortgage payment history - Clayton Comments:  Guarantor demonstrates positive mortgage payment history.

2138673

XXXXXX

NV

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

A

C

A

A

A

C

A

C

A

C

A

A

A

C

A

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

A

C

A

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

No

Provide proof of receipt for initial CD issued XXXX at least 3 business days prior to consummation. Provide proof of receipt for Final LE issued 12/05/25

1.12.26-Client provided LE issued XXXX, e-signed 12/5/25. CD issued XXXX. Satisfied.

1.12.26- Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  8.95 months of reserves exceeds guideline requirements of 0 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 43.22% is above the minimum program requirements of 55% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score 659 > 59 points above guideline program minimum of 600. CFCFS1735: Co-Borrower has significant time at current job - Clayton Comments:  Borrower2 has significant time at current job, 13 years and 11 months.

2138673

XXXXXX

NV

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

A

C

A

A

A

C

A

C

A

C

A

A

A

C

A

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

A

C

A

TRID - CD: Loan consummated before end of waiting period

No

Provide proof of receipt for initial CD issued XXXX at least 3 business days prior to consummation. Provide proof of receipt for Final LE issued 12/05/25

1.12.26-Client provided LE issued XXX, e-signed XXX. CD issued XXX, e-signed XXX. Satisfied.

1.12.26- Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  8.95 months of reserves exceeds guideline requirements of 0 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 43.22% is above the minimum program requirements of 55% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score 659 > 59 points above guideline program minimum of 600. CFCFS1735: Co-Borrower has significant time at current job - Clayton Comments:  Borrower2 has significant time at current job, 13 years and 11 months.

2138673

XXXXXX

NV

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

C

A

C

A

A

A

C

A

C

A

C

A

A

A

C

A

Credit

Income/Employment

Satisfied

C

A

C

A

Verbal verification of employment missing

No

Provide Verbal Verification of Employment for B1 within 10 days of closing.

1.12.2026  Client responded -vvoe for review. 1.12.2026  Client provided Verification of employment within 10 days of closing.  Exception satisfied

1.12.2026  Exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  8.95 months of reserves exceeds guideline requirements of 0 months. CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 43.22% is above the minimum program requirements of 55% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score 659 > 59 points above guideline program minimum of 600. CFCFS1735: Co-Borrower has significant time at current job - Clayton Comments:  Borrower2 has significant time at current job, 13 years and 11 months.

2138741

XXXXXX

GA

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

N/A

N/A

B

B

B

B

A

A

N/A

N/A

Credit

Credit/Mtg History

Active

B

B

B

B

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

No

Missing verification of mortgage/housing history on both primary residence and subject property. Provide 12 months of canceled checks.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  Borrower has minimal use of credit with credit usage ratio of 3% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves: $24140.76 or 27.72 months of PITIA. 3 months required. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of736 is above the required 620

2138741

XXXXXX

GA

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

N/A

N/A

B

B

B

B

A

A

N/A

N/A

Credit

Terms/Guidelines

Active

B

B

B

B

Loan amount is below guideline minimum

No

Loan amount $XXX is below the guideline minimum of $XXX. Exception is on file. Clayton deems this non-material. Compensating factors: FICO 736, 27 months in reserves, DSCR 1.5790.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  Borrower has minimal use of credit with credit usage ratio of 3% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves: $24140.76 or 27.72 months of PITIA. 3 months required. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of736 is above the required 620

2138741

XXXXXX

GA

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

N/A

N/A

B

B

B

B

A

A

N/A

N/A

Credit

Terms/Guidelines

Active

B

B

B

B

Loan fails Homex Minimum Equity requirement

No

Guidelines require minimum equity $40,000. Loan provides only $32,750 in equity. Clayton deems this non-material. Compensating factors: FICO 736, 27 months in reserves, DSCR 1.5790.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  Borrower has minimal use of credit with credit usage ratio of 3% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves: $24140.76 or 27.72 months of PITIA. 3 months required. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of736 is above the required 620

2138737

XXXXXX

WV

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  94 months credit history exceeds guidelines. CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  35+ months reserves exceeds guidelines.

2138748

XXXXXX

UT

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

A

A

B

B

B

B

A

A

A

A

Credit

LTV/CLTV

Active

B

B

B

B

LTV Exceeds Guideline Requirement by less than 5%

No

LTV of 76.50% exceeds guideline maximum of 75%.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Post close reserves are $129.101.24, or 21.55 months. 3 months required. CFCFS1736: Significant time at current residence - Clayton Comments:  In residence 7 years. CFCFS1734: Borrower has significant time at current job - Clayton Comments:  Per state registry borrower has been in business since 3/11/2014.

2138657

XXXXXX

CA

QM: Safe Harbor (APOR)

QM: Safe Harbor (APOR)

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 22.19% is above the minimum program requirements of 50% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score 801 > 141 points above guideline program minimum of 660. CFCFS1737: LTV below guideline requirements - Clayton Comments:  59.02% LTV for Subject Property is below guideline max LTV of 85%

2138705

XXXXXX

CA

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1736: Significant time at current residence - Clayton Comments:  Borrower has owned primary residence for 14 years and 6 months. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  795 credit score exceeds guideline minimum of 620. CFCFS2860: Good credit history - Clayton Comments:  Guarantor has good Credit history for the last 12 months

2138740

XXXXXX

CA

(No Data)

ATR/QM: Exempt

D

A

D

A

A

A

A

A

D

A

D

A

A

A

A

A

Credit

Legal Documents

Satisfied

D

A

D

A

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

No

Please provide Final HUD-1

2.4.26 uploaded FSS please clear.2.5.26 exception satisfied

2.5.26 exception satisfied

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 52.46 is below the maximum allowable of 80 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves: $150761.59 or 121.06 months of PITIA. 0 months required. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of779 is above the required 620

2138736

XXXXXX

FL

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1739: Positive mortgage payment history - Clayton Comments:  Borrower has one 30 day late in 8/2023. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 750 exceeds guideline minimum of 720 for a DSCR cash out refinance at 80% LTV. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Post close reserves are $94,111.39, or 29.66 months. 3 months required.

2138725

XXXXXX

FL

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  45+ months reserves exceeds guidelines. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  231 months credit history exceeds guidelines. CFCFS1739: Positive mortgage payment history - Clayton Comments:  Guarantor demonstrates positive mortgage payment history.

2123136

XXXXXX

ID

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $2245.28 X 6 =  $13,471.68.  Post close reserves $1,166,521.05 or 519.54 months PITI CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  The borrower has a 20 year credit history with 27 open and active tradelines, 17% utilization CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments:  53 months reviewed mortgage history 0X30

2123137

XXXXXX

ID

(No Data)

ATR/QM: Exempt

C

A

A

A

C

A

A

A

C

A

A

A

C

A

A

A

Property Valuations

Property

Satisfied

C

A

C

A

Property Issues Indicated

No

Missing updated valuation to support original appraised value.

12.19.25 CU provided

12.19.25 exception satisfied

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments:  53 months mortgage payment history exceeds 12 months the minimum required per lender guidelines CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified cash reserves in the amount of $818,399.54 exceeds $23,815.14 the minimum required per lender guidelines CFCFS1739: Positive mortgage payment history - Clayton Comments:  Positive mortgage payment history exceeds 12 months the minimum required per lender guidelines

2138735

XXXXXX

TN

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS2860: Good credit history - Clayton Comments:  Good Credit History CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  36 Months Reserves CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  767 mid-score per CBR. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  357+ Months reporting

2138710

XXXXXX

MO

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Post close reserves are $65,368.15, or 28.44 months. 3 months required. CFCFS1739: Positive mortgage payment history - Clayton Comments:  Borrower has never been 1X30 with history from 7/2021. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 734 exceeds guideline minimum of 720 for a DSCR Rate/Term refinance at 80% LTV.

2138708

XXXXXX

MI

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 725 > 105 required guideline requirements of 620 CFCFS1736: Significant time at current residence - Clayton Comments:  Borrower has lived at current residence for the past 8 years and 0 months. CFCFS1737: LTV below guideline requirements - Clayton Comments:  70% LTV for Subject Property is below guideline max LTV of 80%

2138691

XXXXXX

FL

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 65 is below guideline requirement max of 80. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Representative score of 694 exceeds guideline requirement of 640. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified reserves of $179,736.11 or 35.65 months PITI reserve exceeds required reserves of ($5,042.22 x 6 = $30,253.32).

2138675

XXXXXX

IN

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS2860: Good credit history - Clayton Comments:  Good Credit History CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  93+ Months reporting CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  63 Months Reserves

2138727

XXXXXX

CA

(No Data)

ATR/QM: Exempt

D

A

D

A

A

A

A

A

D

A

D

A

A

A

A

A

Credit

Title

Satisfied

D

A

D

A

Missing Title

No

Missing Title for subject Property.

1.28.26 Prelim for subject property provided. Please clear finding.1.28.26 exception satisfied

1.28.26 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 704 > 84 required guideline requirements of 620 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  62.37 months of reserves exceeds guideline requirements of 0 months. CFCFS1737: LTV below guideline requirements - Clayton Comments:  40.40% LTV for Subject Property is below guideline max LTV of785%

2138678

XXXXXX

ID

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS2854: Significant time in profession - Clayton Comments:  Borrower has 20 years' time in the same profession CFCFS1736: Significant time at current residence - Clayton Comments:  Borrowers have 5 years, 7 months' time at the subject property as their primary residence CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 70.00% is below 75.00% the maximum allowed per lender guidelines CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 651 exceeds 640 the minimum required per lender guidelines CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified cash reserves in the amount of $289,124.80 exceeds $0.00 the minimum required per lender guidelines CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI of 38.17% is below 55.00% the maximum allowable per lender guidelines

2138714

XXXXXX

VA

(No Data)

ATR/QM: Exempt

D

A

A

A

D

A

N/A

N/A

D

A

A

A

D

A

N/A

N/A

Property Valuations

Property

Satisfied

D

A

D

A

Missing HOA Certificate/Questionnaire

No

Provide the HOA Certification & Questionnaire.

1.21.26 Condo questionnaire provided, please clear finding.1.21.26 exception satisfied

1.21.26 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  717 credit score exceeds 700 the minimum required per lender guidelines CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified cash reserves in the amount of $140,089.77 exceeds $4,994.04 the minimum required per lender guidelines

2138662

XXXXXX

CA

QM: Safe Harbor (APOR)

QM: Safe Harbor (APOR)

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Zero tolerance fail for $3850.00.  Lender credits on LE XXXX of $3850.00 were removed on final CD XXXX.  No documentation provided disclosing removal of credit.  Please provide documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

2.3.26-Client provided COC, Satisfied.

2.3.26-Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $5892.91 X 6 =  $35,357.46.  Post close reserves $178,525.22 or 30.29 months PITI CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 15 years CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Qualifying FICO is 742, minimum required by G/L is 680

2138663

XXXXXX

MT

QM: Safe Harbor (APOR)

QM: Safe Harbor (APOR)

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI is 22.89%,max allowed by G/L is 50% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Qualifying FICO is 773, minimum required by G/L is 680 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $3873.22 X 6 =  $23,239.32.  Post close reserves $119,596.26 or 30.87 months PITIA

2138681

XXXXXX

CA

Non-QM: Lender documented all ATR UW factors

Non-QM: Lender documented all ATR UW factors

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 657 exceeds 620 the minimum required per lender guidelines CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments:  24 months mortgage payment history exceeds 12 months the minimum required per lender guidelines CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified cash reserves in the amount of $345,740.57 exceeds $0.00 the minimum amount required per lender guidelines CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 70.00% is below 75.00% the maximum allowed per lender guidelines CFCFS2854: Significant time in profession - Clayton Comments:  Borrower is in the same profession for 10 years

2138695

XXXXXX

CA

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  7.88 months of reserves exceeds guideline requirements of 6 months. CFCFS1737: LTV below guideline requirements - Clayton Comments:  75% LTV for Subject Property is below guideline max LTV of 80% CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 812 > 192 required guideline requirements of 620

2138693

XXXXXX

CA

(No Data)

ATR/QM: Exempt

D

A

D

A

D

A

N/A

N/A

D

A

D

A

D

A

N/A

N/A

Credit

Title

Satisfied

D

A

D

A

Title incomplete

No

Provide Title Commitment.

1.26.26 Preliminary report provided, please clear finding.1.27.26 exception satisfied

1.27.26 exception satisfied

(No Data)

Not Applicable

CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 2 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  91+ months reserves exceeds guidelines.

2138693

XXXXXX

CA

(No Data)

ATR/QM: Exempt

D

A

D

A

D

A

N/A

N/A

D

A

D

A

D

A

N/A

N/A

Property Valuations

Property

Satisfied

D

A

D

A

Missing HOA Certificate/Questionnaire

No

Missing Condo Questionnaire.

1.26.26 HOA Cert provided, please clear finding.

1.27.26 exception satisfied

(No Data)

Not Applicable

CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 2 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  91+ months reserves exceeds guidelines.

2138702

XXXXXX

OR

(No Data)

ATR/QM: Exempt

D

B

D

B

A

A

A

A

D

B

D

B

A

A

A

A

Credit

Credit/Mtg History

Active

B

B

B

B

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

No

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

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  37.16 months of reserves exceeds guideline requirements of 3 months. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 798 > 178 required guideline requirements of 620 CFCFS1737: LTV below guideline requirements - Clayton Comments:  74.95% LTV for Subject Property is below guideline max LTV of 80%

2138702

XXXXXX

OR

(No Data)

ATR/QM: Exempt

D

B

D

B

A

A

A

A

D

B

D

B

A

A

A

A

Credit

Legal Documents

Satisfied

D

A

D

A

Final HUD-1 is incomplete or illegible

No

Settlement & Disbursement Dates not listed

2.8.2026-Client's response: February 6th 2026, 3:46:50 pmFSS2.8.2026-Clayton's response: Received the HUD1, exception is satisfied.

2.8.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  37.16 months of reserves exceeds guideline requirements of 3 months. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 798 > 178 required guideline requirements of 620 CFCFS1737: LTV below guideline requirements - Clayton Comments:  74.95% LTV for Subject Property is below guideline max LTV of 80%

2138702

XXXXXX

OR

(No Data)

ATR/QM: Exempt

D

B

D

B

A

A

A

A

D

B

D

B

A

A

A

A

Credit

Legal Documents

Satisfied

D

A

D

A

Missing Legal Document(s)

No

Missing Lease for Subject Property for $XXX/month.

2.8.2026-Client's response: February 6th 2026, 3:45:31 pmplease find the lease2.8.2026-Clayton's response: Received the Lease, exception satisfied.

2.8.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  37.16 months of reserves exceeds guideline requirements of 3 months. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 798 > 178 required guideline requirements of 620 CFCFS1737: LTV below guideline requirements - Clayton Comments:  74.95% LTV for Subject Property is below guideline max LTV of 80%

2138707

XXXXXX

TX

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1736: Significant time at current residence - Clayton Comments:  10 years at current residence. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  228 months credit history exceeds guidelines. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  91+ months credit history exceeds guidelines.

2138688

XXXXXX

AZ

(No Data)

ATR/QM: Exempt

D

A

D

A

A

A

A

A

D

A

D

A

A

A

A

A

Credit

Legal Documents

Satisfied

D

A

D

A

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

No

Please provide Final HUD-1

2.9.26 FSS rcvd2.9.26 exception satisfied

2.9.26 exception satisfied

(No Data)

Not Applicable

CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  163 months credit history exceeds guidelines. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  20+ months reserves exceed guidelines.

2138721

XXXXXX

WA

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  105 Months Reserves CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments:  99+ Months reporting CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  242+ Months reporting

2138696

XXXXXX

CA

(No Data)

ATR/QM: Exempt

D

B

D

B

A

A

A

A

D

B

D

B

A

A

A

A

Credit

Assets

Active

C

B

C

B

Insufficient # of months cash reserves for PITI per guideline requirements

No

Post close reserves are $15,278.42, or 2.62 months. 6 months required. Clayton deems this non-material. Compensating factors FICO 777, 8 years at current residence, LTV 66.30%.

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1739: Positive mortgage payment history - Clayton Comments:  Borrower has never been 1X30 with history from 7/2017. CFCFS1736: Significant time at current residence - Clayton Comments:  In residence 8 years. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 777 exceeds guideline minimum of 640 for a DSCR with a ratio < 1.00

2138696

XXXXXX

CA

(No Data)

ATR/QM: Exempt

D

B

D

B

A

A

A

A

D

B

D

B

A

A

A

A

Credit

Legal Documents

Satisfied

D

A

D

A

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

No

Please provide Final HUD-1

2.8.2026-Client's response: February 6th 2026, 3:59:57 pmFSS2.8.2026-Clayton's response: Received the Final HUD1, exception is satisfied.

2.8.2026-Exception satisfied.

(No Data)

Not Applicable

CFCFS1739: Positive mortgage payment history - Clayton Comments:  Borrower has never been 1X30 with history from 7/2017. CFCFS1736: Significant time at current residence - Clayton Comments:  In residence 8 years. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 777 exceeds guideline minimum of 640 for a DSCR with a ratio < 1.00

2138682

XXXXXX

MN

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

B

B

D

A

C

B

D

B

B

B

D

A

C

B

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

C

A

C

A

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

No

Client declared QM Safe APOR, Clayton status is QM Rebuttable APOR due to Benchmark Date 12/17/2025, loan has a test APR 8.014%, the Benchmark Rate was 6.270%; Variance 1.744%; max allowed is 1.5000%.

2.2.26 Client response; We accept the determination on this and please clear the exception.2.3.26 Clayton memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon Claytons review.

2.3.26 Clayton memo; exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 15+ years. CFCFS1739: Positive mortgage payment history - Clayton Comments:  Guarantor demonstrates positive mortgage payment history. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  10+ months reserves exceeds guidelines.

2138682

XXXXXX

MN

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

B

B

D

A

C

B

D

B

B

B

D

A

C

B

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

B

C

B

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

No

Zero tolerance fail for $49.80.  Transfer taxes increased on final CD XXXXXXXX.  No documentation provided disclosing increase in fee.  Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure.

2.3.26-Client provided COC, Satisfied.

2.3.26-Satisfied.

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 15+ years. CFCFS1739: Positive mortgage payment history - Clayton Comments:  Guarantor demonstrates positive mortgage payment history. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  10+ months reserves exceeds guidelines.

2138682

XXXXXX

MN

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

B

B

D

A

C

B

D

B

B

B

D

A

C

B

Credit

Ability to Repay/Qualified Mortgage

Active

B

B

B

B

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

No

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

(No Data)

(No Data)

Not Applicable

Not Applicable

CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 15+ years. CFCFS1739: Positive mortgage payment history - Clayton Comments:  Guarantor demonstrates positive mortgage payment history. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  10+ months reserves exceeds guidelines.

2138682

XXXXXX

MN

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

B

B

D

A

C

B

D

B

B

B

D

A

C

B

Property Valuations

Property

Satisfied

D

A

D

A

Missing HOA Certificate/Questionnaire

No

Missing Condo Questionnaire.

2.2.26 condo cert for review. 2.3.26 exception satisfied

2.3.26 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 15+ years. CFCFS1739: Positive mortgage payment history - Clayton Comments:  Guarantor demonstrates positive mortgage payment history. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  10+ months reserves exceeds guidelines.

2141287

XXXXXX

TN

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  215+ Months reporting positive CFCFS2860: Good credit history - Clayton Comments:  Good Credit History CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  36 Months Reserves

2138683

XXXXXX

AZ

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

C

A

D

B

D

B

A

A

C

A

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

C

A

C

A

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

No

Client declared QM: Safe Harbor (APOR), Clayton status is QM Rebuttable Presumption APOR due to Benchmark Date 12/23/25, loan has a test APR 7.942, the Benchmark Rate was 6.25%; Variance 1.692; max allowed is 1.5000

2.5.26 Client response; We accept the determination on this and please clear the exception.2.5.26 Clayton memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon Claytons review.

2.5.26 Clayton memo; exception satisfied;

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 22 years CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Qualifying FICO is 706, minimum required by G/L is 680 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $3580.46 X 6 =  $21,482.76.  Post close reserves $232,172.46 or 64.84 months PITI

2138683

XXXXXX

AZ

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

C

A

D

B

D

B

A

A

C

A

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

C

A

C

A

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

No

Please provide confirmation of receipt for CD XXXX.

2.6.26-Client provided 1/16/26, e-signed 1/16/26. Satisfied.

2.6.26- Satisfied.

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 22 years CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Qualifying FICO is 706, minimum required by G/L is 680 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $3580.46 X 6 =  $21,482.76.  Post close reserves $232,172.46 or 64.84 months PITI

2138683

XXXXXX

AZ

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

C

A

D

B

D

B

A

A

C

A

Credit

Ability to Repay/Qualified Mortgage

Active

B

B

B

B

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

No

Client agreed QM rebuttable status based upon Claytons review.

(No Data)

(No Data)

Not Applicable

Not Applicable

CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 22 years CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Qualifying FICO is 706, minimum required by G/L is 680 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $3580.46 X 6 =  $21,482.76.  Post close reserves $232,172.46 or 64.84 months PITI

2138683

XXXXXX

AZ

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

D

B

D

B

A

A

C

A

D

B

D

B

A

A

C

A

Credit

Assets

Satisfied

D

A

D

A

Asset documentation is insufficient per guideline requirements

No

Evidence of gift funds being received.

2.5.26 gift funds deposit2.5.26 exception satisfied.

2.5.26 exception satisfied.

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 22 years CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Qualifying FICO is 706, minimum required by G/L is 680 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $3580.46 X 6 =  $21,482.76.  Post close reserves $232,172.46 or 64.84 months PITI

2141288

XXXXXX

TN

(No Data)

ATR/QM: Exempt

B

B

B

B

A

A

A

A

B

B

B

B

A

A

A

A

Credit

Credit/Mtg History

Active

B

B

B

B

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

No

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

(No Data)

(No Data)

(No Data)

Not Applicable

CFCFS1739: Positive mortgage payment history - Clayton Comments:  38 months positive mortgage payment history exceeds 12 months the minimum required per lender guidelines CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified cash reserves in the amount of $92,032.03 exceeds $7,850.13 the minimum required per lender guidelines CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score of 790 exceeds 720 the minimum required per lender guidelines CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments:  38 months Mortgage payment history exceeds 12 months the minimum required per lender guidelines

2138698

XXXXXX

CA

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1736: Significant time at current residence - Clayton Comments:  Borrower has lived at current residence for the past 20 years and 2 months. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 790 > 170 required guideline requirements of 620 CFCFS1737: LTV below guideline requirements - Clayton Comments:  75% LTV for Subject Property is below guideline max LTV of 80%

2138738

XXXXXX

CO

(No Data)

ATR/QM: Exempt

D

A

D

A

A

A

N/A

N/A

D

A

D

A

A

A

N/A

N/A

Credit

Title

Satisfied

D

A

D

A

Missing Title

No

Provide Title report.

2.2.26 prelim for review.2.2.26 exception satisfied

2.2.26 exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified reserves of $110,508.65 or 34.03 months PITI reserve exceeds required reserves of ($3,247.47 x 3 = $9,742.41). CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Representative score of 715 exceeds guideline requirement of 620. CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 70 is below guideline requirement of 80.

2138706

XXXXXX

AR

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  14.99 months of reserves exceeds guideline requirements of 3 months. CFCFS1736: Significant time at current residence - Clayton Comments:  Borrower has lived at current residence for the past 3 years and 0 months. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Median Fico Score of 708 > 88 required guideline requirements of 620

2138692

XXXXXX

OK

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments:  43 months reviewed for primary residence mtg, exceeds the required 12 months CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Cash Reserves $659107.94, 215.99 months reserves, 3 months required CFCFS1736: Significant time at current residence - Clayton Comments:  21 yrs residing in current residence CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Credit score 778 exceeds the minimum of 680

2141292

XXXXXX

TX

(No Data)

ATR/QM: Exempt

C

A

C

A

A

A

N/A

N/A

C

A

C

A

A

A

N/A

N/A

Credit

Income/Employment

Satisfied

C

A

C

A

Income Amount is  Unsupported by Documentation in File

No

Provide Personal Guaranty executed by all parties owning 25% or more of the LLC.

1.26.26 Executed Personal Guaranty provided, please clear finding.1.26.26 exception satisfied

1.26.26 exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Post close assets $108,453.40, or 53.27 months PITI, exceed guideline requirement. CFCFS1736: Significant time at current residence - Clayton Comments:  Borrower has resided at current residence for approximately 5 years. CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments:  Mortgage history 0 x 30 past 82 months exceeds guideline requirement.

2138664

XXXXXX

FL

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

C

B

B

B

A

A

C

A

C

B

B

B

A

A

C

A

Compliance

Ability to Repay/Qualified Mortgage

Satisfied

C

A

C

A

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

No

Client declared QM Safe APOR, Clayton status is QM Rebuttable APOR due to Benchmark Date 01/08/2026, loan has a test APR 7.935%, the Benchmark Rate was 6.18%; Variance 1.755%; max allowed is 1.5000%.

1.29.26 Client response; We accept the determination on this and please clear the exception.1.29.26 Clayton memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon Claytons review.

1.29.26 Clayton memo; exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $4552.58 X 6 =  $27,315.48.  Post close reserves $40,205.16 or 8.83 months PITI CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 7 years CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI is 32.62%, max allowed by G/L is 50%

2138664

XXXXXX

FL

QM: Safe Harbor (APOR)

QM: Rebuttable Presumption (APOR)

C

B

B

B

A

A

C

A

C

B

B

B

A

A

C

A

Credit

Ability to Repay/Qualified Mortgage

Active

B

B

B

B

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

No

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

(No Data)

(No Data)

Not Applicable

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Reserves required $4552.58 X 6 =  $27,315.48.  Post close reserves $40,205.16 or 8.83 months PITI CFCFS1734: Borrower has significant time at current job - Clayton Comments:  The borrower has been XXX for 7 years CFCFS1744: DTI below guideline requirement - Clayton Comments:  DTI is 32.62%, max allowed by G/L is 50%

2138694

XXXXXX

AL

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  Verified reserves of $247,744.38 or 86.74 months PITI reserve exceeds required reserves of ($2,856.20 x 6 = $17,137.20). CFCFS1737: LTV below guideline requirements - Clayton Comments:  LTV of 70 is below guideline requirement max of 80. CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  Representative score of 696 exceeds guideline requirement of 640.

2138699

XXXXXX

WI

(No Data)

ATR/QM: Exempt

A

A

A

A

A

A

N/A

N/A

A

A

A

A

A

A

N/A

N/A

CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  57.38 months of reserves in file. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments:  125+ Months reporting positive CFCFS1741: Credit score exceeds guidelines - Clayton Comments:  725 mid-score per CBR. CFCFS2860: Good credit history - Clayton Comments:  Good Credit History

2138712

XXXXXX

AL

(No Data)

ATR/QM: Exempt

D

A

A

A

D

A

D

A

D

A

A

A

D

A

D

A

Compliance

Compliance Manual

Satisfied

D

A

D

A

Missing Legal Documentation

No

Missing litigation documentation.

2.5.26 please find email there is no litigation.2.9.26 exception satisfied

2.9.26 exception satisfied

(No Data)

Not Applicable

CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 12 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  4+ months reserves exceeds guidelines.

2138712

XXXXXX

AL

(No Data)

ATR/QM: Exempt

D

A

A

A

D

A

D

A

D

A

A

A

D

A

D

A

Property Valuations

Property

Satisfied

D

A

D

A

Missing HOA Certificate/Questionnaire

No

Condo questionnaire to be completed in full regarding pending litigation.

2.5.26 please find email there is no litigation.2.9.26 exception satisfied

2.9.26 exception satisfied

(No Data)

Not Applicable

CFCFS2860: Good credit history - Clayton Comments:  Guarantor demonstrates good credit history. CFCFS1736: Significant time at current residence - Clayton Comments:  Guarantor has lived at current residence 12 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments:  4+ months reserves exceeds guidelines.