|
Client Name:
|
||||||
|
Client Project Name:
|
SPIRE 2026-3
|
|||||
|
Start - End Dates:
|
5/9/2025 - 1/8/2026
|
|||||
|
Deal Loan Count:
|
19
|
|||||
|
Conditions Report 2.0
|
||||||
|
Loans in Report:
|
19
|
|||||
|
Loans with Conditions:
|
11
|
|||||
|
0 - Total Active Conditions
|
||||||
|
18 - Total Satisfied Conditions
|
||||||
|
8 - Credit Review Scope
|
||||||
|
1 - Category: Ability to Repay/Qualified Mortgage
|
||||||
|
1 - Category: Assets
|
||||||
|
1 - Category: Credit/Mtg History
|
||||||
|
2 - Category: Income/Employment
|
||||||
|
2 - Category: Legal Documents
|
||||||
|
1 - Category: Terms/Guidelines
|
||||||
|
10 - Compliance Review Scope
|
||||||
|
1 - Category: Ability to Repay/Qualified Mortgage
|
||||||
|
1 - Category: Compliance Manual
|
||||||
|
8 - Category: TILA/RESPA Integrated Disclosure
|
||||||
|
15 - Total Waived Conditions
|
||||||
|
14 - Credit Review Scope
|
||||||
|
2 - Category: Assets
|
||||||
|
4 - Category: Credit/Mtg History
|
||||||
|
1 - Category: DTI
|
||||||
|
3 - Category: Income/Employment
|
||||||
|
2 - Category: LTV/CLTV
|
||||||
|
2 - Category: Terms/Guidelines
|
||||||
|
1 - Compliance Review Scope
|
||||||
|
1 - Category: Right of Rescission
|
||||||
|
©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and
the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited.
|
||||||
|
Client Name:
|
||||||||||||||||||||||||||||||||||||
|
Client Project Name:
|
SPIRE 2026-3
|
|||||||||||||||||||||||||||||||||||
|
Start - End Dates:
|
5/9/2025 - 1/8/2026
|
|||||||||||||||||||||||||||||||||||
|
Deal Loan Count:
|
19
|
|||||||||||||||||||||||||||||||||||
|
Conditions Report 2.0
|
||||||||||||||||||||||||||||||||||||
|
Loans in Report:
|
19
|
|||||||||||||||||||||||||||||||||||
|
Loans with Conditions:
|
11
|
|||||||||||||||||||||||||||||||||||
|
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
|
|
409013215
|
XXXXXX
|
XXXXXX
|
QM: Safe Harbor (APOR)
|
QM: Safe Harbor (APOR)
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
A
|
A
|
A
|
A
|
CMPTRID5293
|
TRID Not all required seller-paid fees were disclosed on the CD
|
No
|
Seller-paid fees that should be disclosed in Sections C & H are not disclosed on Final CD XXX; Seller's CD in file & able to test;
Condition Satisfied.
|
(No Data)
|
Condition Satisfied.
|
Numeric
|
Not Applicable
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Fico score XXX exceeds guide lines.
CFCFS1734: Borrower has significant time at current job
- XXX Comments: Borrower has stable employment with XXXyears at current job.
|
|
409013215
|
XXXXXX
|
XXXXXX
|
QM: Safe Harbor (APOR)
|
QM: Safe Harbor (APOR)
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
Credit
|
Income/Employment
|
Satisfied
|
A
|
A
|
A
|
A
|
CRDINC3204
|
Income Documentation Missing
|
No
|
DD Firm Income calculation of $XXX is supported with XXX months business bank statements provided. Lender worksheet calculation
$XXXBorrower income stated of $XXXIncome of $XXX to be used for transaction
|
(No Data)
|
Condition satisfied
|
(No Data)
|
Not Applicable
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Fico score XXX exceeds guide lines.
CFCFS1734: Borrower has significant time at current job
- XXX Comments: Borrower has stable employment with XXXyears at current job.
|
|
409013462
|
XXXXXX
|
XXXXXX
|
QM: Safe Harbor (APOR)
|
QM: Safe Harbor (APOR)
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
A
|
A
|
A
|
A
|
CMPTRID5293
|
TRID Not all required seller-paid fees were disclosed on the CD
|
No
|
Seller fees were able to be sourced from the sellers CD document. Consistent with the XXX, we are satisfying to 1/A.
|
(No Data)
|
This exception is informational. Exception satisfied. Final Grade A
|
Numeric
|
Not Applicable
|
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX%
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Qualifying credit score XXX
|
|
409013462
|
XXXXXX
|
XXXXXX
|
QM: Safe Harbor (APOR)
|
QM: Safe Harbor (APOR)
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
Credit
|
Assets
|
Waived
|
B
|
B
|
B
|
B
|
CRDAST2670
|
Asset documentation is insufficient per guideline requirements
|
No
|
Missing 2 consecutive statement for XXX XXX only XXX month in file date XXX
|
5.15.2025 Client provided exception approval for missing XXX consecutive month statement w/XXX #XXX
|
Upon further review by XXX, exception is deemed non-material. Exception approved, B Grade with compensating factors, fico score XXX and
DTI of XXX%
|
(No Data)
|
Not Applicable
|
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX%
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Qualifying credit score XXX
|
|
409013462
|
XXXXXX
|
XXXXXX
|
QM: Safe Harbor (APOR)
|
QM: Safe Harbor (APOR)
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
Credit
|
Income/Employment
|
Waived
|
B
|
B
|
B
|
B
|
CRDINC2488
|
Verbal verification of employment missing
|
No
|
Missing acceptable 3rd party verification for XXX prior to note date XXX
|
5.15.2025 Client provided VVOE dated 4.30.2025 stating type of verification obtained was with XXX and provided XXX name however did not
provide phone number used for verification w/XXX. In addition, Lender VVOE says Business License and internet website however none of these were provided. Condition remains Note: Bank statement income file, no tax returns in file. 5/16
Client provided an approved exception to allow the file without the XXX phone number documented on the VOE ( XXX validated elsewhere in file)
|
Upon review by XXX XXX, Condition is a Non Material B grade; Low DTI, Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX%
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Qualifying credit score XXX
|
|
409018241
|
XXXXXX
|
XXXXXX
|
(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
|
Terms/Guidelines
|
Satisfied
|
C
|
A
|
C
|
A
|
CRDTER4631
|
Loan parameters do not meet guidelines
|
No
|
File is missing Guaranty Agreement
|
8/26 Client provided the signed guaranty
|
Satisfied
|
(No Data)
|
Not Applicable
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: High Credit XXX
CFCFS2860: Good credit history
- XXX Comments: Borrower Has history of good credit with 0 Late Payments > XXX Months
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Post Close Assets are $ XXX or XXX months of PITIAGuidelines require XXX months or $ XXX X XXX = $ XXX+ XXX Months for
Additional REO or $ XXX X XXX = $ XXX
|
|
409019301
|
XXXXXX
|
XXXXXX
|
(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
- XXX Comments: XXX% LTV for Subject Property is below guideline max LTV of XXX%
CFCFS1736: Significant time at current residence
- XXX Comments: Borrower has resided at current residence fo rthe past XXX years and XXX months.
CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- XXX Comments: Borrower does not have any major mortgage related occurrences
|
|||||||||||||||
|
409019308
|
XXXXXX
|
XXXXXX
|
(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
|
Waived
|
B
|
B
|
B
|
B
|
CRDCRMH104
|
Credit score below guidelines
|
No
|
Loan approval reflects qualifying fico is XXX. CBR in file reflects qualifying fico is XXX for B1 on XXX and XXX for B2 on XXX. Missing
latest credit report reflecting middle fico of XXX. Guidelines for NONI+ require a XXX for XXX% LTV.
|
09.10.2025 - Acknowledged by Client.
|
09.10.2025 - Non material exception remains.
|
(No Data)
|
Not Applicable
|
CFCFS1736: Significant time at current residence
- XXX Comments: Borrower has been at current residence for XXX years
CFCFS5269: Minimal use of credit
- XXX Comments: XXX% consumer credit utilization in file
|
|
409019320
|
XXXXXX
|
XXXXXX
|
(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
- XXX Comments: Median FICO XXX >XXX points above guideline program minimum of XXX.
CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments: XXX months with 0x30 Mortgage payment history exceeds guidelines of XXX months.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: XXX months of reserves exceeds guideline requirements of XXX months.
|
|||||||||||||||
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Compliance
|
Ability to Repay/Qualified Mortgage
|
Satisfied
|
C
|
A
|
C
|
A
|
CMPATRQM2908
|
TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; Residual income analysis does not meet client guidelines
|
No
|
Borrowers only have $XXX residual income for a 3 person household which requires a minimum of $XXX.
|
(No Data)
|
Canceled; Exception was granted prior to close for income calculated suing XXX% income expense factor when recalculated residual income
is met with $XXX
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Compliance
|
Compliance Manual
|
Satisfied
|
D
|
A
|
D
|
A
|
CMPMAN2956
|
Missing disclosure
|
No
|
Per Disclosure Tracking Summary in file, CD XXX CDXXX, CD XXX and CD XXX were issued but are all missing in file.
|
10/15/25 Client provided the 4 missing CD packages.
|
Condition Satisfied.
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
B
|
A
|
B
|
A
|
CMPTRID5806
|
TRID - At least 1 CD prior to the last CD at or prior to closing was not provided to all with rescission rights.
|
No
|
10/15/25 Client provided 4 missing CD packages. Per the Disclosure Tracking Summary and Details in file, the Initial XXX CD and the
Revised XXX CD were only delivered to the primary Borrower. Provide confirmation that the Initial XXX and Revised XXX CDs were also sent to the Co-Borrower.
|
11/03/2025 Client provided CD XXX and XXX received by Co-Borrower on XXX and XXX.
|
Condition Satisfied.
|
Not Applicable
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
C
|
A
|
C
|
A
|
CMPTRID3618
|
TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to
closing
|
No
|
CD XXX is the only CD in file. Missing initial and, if applicable, any revised CDs for further testing.
|
10/15/25 Client provided 4 missing CD packages.
|
Condition Satisfied.
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
C
|
A
|
C
|
A
|
CMPTRID3626
|
TRID - CD: Loan consummated before end of waiting period
|
No
|
CD XXX is the only CD in file. Missing initial and, if applicable, any revised CDs for further testing.
|
10/15/25 Client provided 4 missing CD packages.
|
Condition Satisfied.
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
C
|
A
|
C
|
A
|
CMPTRID3670
|
TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within
60 days of consummation
|
No
|
Zero tolerance in amount of $XXX due to added Broker fee on final CD XXX. COC dated XXX found in file but a corresponding CD is missing.
Fee was not disclosed to borrower within days of findings. Condition is pending receiving PCD reflecting lenders cure, LOE to borrower, a copy of refund and proof of delivery via shipping that includes tracking information
|
10/15/25 Client provided the 4 missing CD packages. Re-testing results in no violation.
|
Condition Satisfied.
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
D
|
A
|
D
|
A
|
CMPTRID4579
|
TRID - CD: Missing Initial CD
|
No
|
Initial CD acknowledged by all title holders min XXX days prior to closing is missing in file.
|
10/15/25 Client provided 4 missing CD packages.
|
Condition Satisfied.
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Credit
|
DTI
|
Waived
|
C
|
B
|
C
|
B
|
CRDDTI187
|
Debt Ratio > 60%
|
No
|
XXX% DTI exceeds the Aspire Expanded program max of XXX%. Review calculates total debts $XXX/total income $XXX comprised of XXX from B1 of
$XXX and XXX income from B2 using XXX% of XXX mo. personal bank statement deposits and applying the required XXX% fixed expense ratio factor for $XXX/mo. vs. lender's calculation using a XXX% expense factor. Guides require personal bank
statements to be reduced by the applicable fixed expense ratio of XXX% or an expense ratio provided by a XXX/Third Party Tax Preparer which can never be less than XXX%. Using a XXX% expense ratio will results in a DTI of XXX% and requires
XXX/licensed tax preparer to attest that they have audited the business financial statements or reviewed working papers provided by the borrower. XXX/licensed tax preparer must attest that they are not related to the borrower or associated
with the borrowers business and expense factor can never be less than XX%.
|
11/10 Client provided an exception for income calculation using XXX% factor: DTI recalculated to XXX%
|
waived
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Credit
|
Income/Employment
|
Satisfied
|
C
|
A
|
C
|
A
|
CRDINC2488
|
Verbal verification of employment missing
|
No
|
Missing third party evidence to verify B2 business is in existence and in good standing; Borrower only provided EIN number assignment from
IRS dated XXX to verify XXX XXX of business.
|
10.17.2025 Client provided SOS dated XXX verifying good standing, in existence. Note date XXX; over XXX calendar days of Note date. Per
guidelines no more than XXX(XXX) calendar days prior to Note date. Condition remains for SOS to be dated (verifying XXX employment) within XXX calendar days. 10.31.2025 Client provided duplicate (previously provided) SOS dated XXX with Note
date XXX however per guidelines no more than XXX(XXX) calendar days prior to Note date. SOS provided is more than 30 days from Note date. Condition remains for SOS dated within XXX calendar days of Note date for B2 11.5.2025 Client
provided SOS dated XXX (post close) and file having prior to closing SOS dated XXX
|
Condition satisfied
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409022124
|
XXXXXX
|
XXXXXX
|
Non-QM: Lender documented all ATR UW factors
|
Non-QM: Lender documented all ATR UW factors
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Credit
|
Terms/Guidelines
|
Waived
|
B
|
B
|
B
|
B
|
CRDTER4631
|
Loan parameters do not meet guidelines
|
No
|
Credit report, mortgage statement and payoff statement reflect evidence of forbearance that resulted in a loan modification due to
hardship within the past XXX years. XXX mortgage statement dated XXX and payoff statement dated XXX include Non-Interest Bearing Principal Balance of $XXX being paid off through this subject c/o transaction.
|
10/03/25 Upon further review XXX XXX XXX determined that the borrowers mortgage Late Payments, Bankruptcy, Foreclosure, Short Sale Or
Modification Timeframes outside of Program Guideline is non material due to the following compensating factors: verified cash reserves and LTV below guidelines (exception not applied due to DTI)11/10 Client provided an exception for income
calculation using XXX% factor: DTI recalculated to XXX%Exception applied
|
Upon review by XXX XXX, Condition is a Non Material B grade; Low LTV, Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV; max XXX%.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
|
|
409023740
|
XXXXXX
|
XXXXXX
|
(No Data)
|
ATR/QM: Exempt
|
D
|
A
|
D
|
A
|
A
|
A
|
A
|
A
|
D
|
A
|
D
|
A
|
A
|
A
|
A
|
A
|
Credit
|
Credit/Mtg History
|
Satisfied
|
D
|
A
|
D
|
A
|
CRDCRMH183
|
Credit report incomplete
|
No
|
Missing a full hard pull credit report for B1 providing merged credit information from the 3 major national credit repositories as
required for every borrower; only a credit supplement with mortgage histories and no credit scores was provided.
|
10/13 Client provided updated credit
|
Satisfied
|
(No Data)
|
Not Applicable
|
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments: XXX mo. 0x30 mortgage payment history; no more than 1x30xXXX allowed.
|
|
409023740
|
XXXXXX
|
XXXXXX
|
(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
|
CRDLGL100
|
Legal document incorrect or incomplete
|
No
|
Missing all pages and borrower signatures for the Business Purpose & Occupancy Affidavit as required by XXX Aspire Expanded DSCR
guides; only page 1 of 3 provided.
|
10/13 Client provided the fully executed Bus purpose affidavit
|
Satisfied
|
(No Data)
|
Not Applicable
|
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: $XXX reserves; $XXX * XXX = $XXX reserves required.
CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments: XXX mo. 0x30 mortgage payment history; no more than 1x30xXXX allowed.
|
|
409024041
|
XXXXXX
|
XXXXXX
|
QM: Rebuttable Presumption
|
QM: Rebuttable Presumption (APOR)
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
Satisfied
|
A
|
A
|
A
|
A
|
CMPTRID5293
|
TRID Not all required seller-paid fees were disclosed on the CD
|
No
|
Seller-Paid fees indicated on Seller CD are not disclosed on page 2 of the Borrowers Final CD.
|
(No Data)
|
Condition satisfied. File contains the Seller CD and Final Settlement Statement reflecting the Seller paid fees. Charges were included in
the fee testing with no violation.
|
Numeric
|
Not Applicable
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: XXX score exceeds 680
CFCFS1736: Significant time at current residence
- XXX Comments: XXX years at current home
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Assets verified for reserves $XXX or XXX months with XXX months required
|
|
409024041
|
XXXXXX
|
XXXXXX
|
QM: Rebuttable Presumption
|
QM: Rebuttable Presumption (APOR)
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
Credit
|
LTV/CLTV
|
Waived
|
B
|
B
|
B
|
B
|
CRDLTV3026
|
LTV Exceeds Guideline Requirement by at least 5%, but less than 10%
|
No
|
XXX% MAX LTV Investment purchase; file closed at XXX% LTV
|
10/20 Client provided an approved exception to allow XXX% LTV investment purchase
|
Upon review by XXX XXX, Condition is a Non Material B grade; Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: XXX score exceeds 680
CFCFS1736: Significant time at current residence
- XXX Comments: XXX years at current home
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Assets verified for reserves $XXX or XXX months with XXX months required
|
|
409024319
|
XXXXXX
|
XXXXXX
|
QM: Rebuttable Presumption (APOR)
|
QM: Rebuttable Presumption (APOR)
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
Compliance
|
Right of Rescission
|
Waived
|
B
|
B
|
B
|
B
|
CMPROR1909
|
Incorrect ROR Form Used - H8 Form Used in Refinance With Original Creditor
|
No
|
Per Title Commitment in file, loan originated with the same lender. Incorrect H8 ROR form instead of H9 ROR form
|
10/15/25 Client provided an approved exception for using incorrect ROR form
|
10/15/25 Initial and final grade 2/B
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX% is below guideline max of XXX% by XXX%.
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX% is below product max of XXX% by XXX%.
|
|
409024319
|
XXXXXX
|
XXXXXX
|
QM: Rebuttable Presumption (APOR)
|
QM: Rebuttable Presumption (APOR)
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
Credit
|
Ability to Repay/Qualified Mortgage
|
Satisfied
|
C
|
A
|
C
|
A
|
CRDATRQM3124
|
TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; Lender did not provide an ATR/QM status determination.
|
No
|
File is missing lender's QM determination. XXX's determination is rebuttable.
|
10/18 Client accepts DD determination
|
Satisfied
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX% is below guideline max of XXX% by XXX%.
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX% is below product max of XXX% by XXX%.
|
|
409024319
|
XXXXXX
|
XXXXXX
|
QM: Rebuttable Presumption (APOR)
|
QM: Rebuttable Presumption (APOR)
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
Credit
|
Credit/Mtg History
|
Waived
|
B
|
B
|
B
|
B
|
CRDCRMH193
|
Length of mortgage/rental history in file does not meet guideline requirement
|
No
|
Missing full XXX month housing history as required by guideline from XXX through XXX.
|
10/16/25 Upon further review XX XXX XXX determined that lack of documented housing history where one exists (missing VOR only) is non
material due to the following compensating factors: LTV of XXX and DIT of XXX both below guidelines.
|
Final grade of B
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX% is below guideline max of XXX% by XXX%.
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX% is below product max of XXX% by XXX%.
|
|
409024319
|
XXXXXX
|
XXXXXX
|
QM: Rebuttable Presumption (APOR)
|
QM: Rebuttable Presumption (APOR)
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
Credit
|
Income/Employment
|
Waived
|
C
|
B
|
C
|
B
|
CRDINC2488
|
Verbal verification of employment missing
|
No
|
Missing third party evidence of business in existence and ingood standing and listing % owned by customer.
|
10/18 Client provided an approved exception to allow the file without the third part VOE
|
Upon review by XXX XXX, Condition is a Non Material B grade; Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX% is below guideline max of XXX% by XXX%.
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX% is below product max of XXX% by XXX%.
|
|
409024319
|
XXXXXX
|
XXXXXX
|
QM: Rebuttable Presumption (APOR)
|
QM: Rebuttable Presumption (APOR)
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
Credit
|
Income/Employment
|
Waived
|
D
|
B
|
D
|
B
|
CRDINC2408
|
Income verification does not meet guidelines
|
No
|
Missing business narrative prepared by customer or tax preparer including business description, nature, size and scope of business and
signed by same.
|
10/18Client provided an approved exception to allow the file without the Narrative
|
Upon review by XXX XXX, Condition is a Non Material B grade; Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX% is below guideline max of XXX% by XXX%.
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI XXX% is below product max of XXX% by XXX%.
|
|
409024322
|
XXXXXX
|
XXXXXX
|
(No Data)
|
ATR/QM: Exempt
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
Credit
|
Assets
|
Waived
|
D
|
B
|
D
|
B
|
CRDAST2670
|
Asset documentation is insufficient per guideline requirements
|
No
|
1. Missing second complete statement for XXX Bk #XXX to support assets used to qualify and support required reserves.2. Missing formal or
official documentation from XXX Bk that the guarantors are authorized signor and have access to business funds. Operating agreement does not directly clarify access to funds.
|
10/14 Client provided an approved exception to allow the file without a second month asset statement and access letter
|
Upon review by XXX XXX, Condition is a Non Material B grade; Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1739: Postive mortgage payment history
- XXX Comments: Mortgage history reports XXX mos. 0x30 and XXX mos. 0x30.
CFCFS1736: Significant time at current residence
- XXX Comments: Guarantor 1 has XXX years at current residence. Guarantor 2 has XXX years XXX months at current residence.
CFCFS5269: Minimal use of credit
- XXX Comments: Minimal use of consumer credit. Credit line usage XXX%.
|
|
409024322
|
XXXXXX
|
XXXXXX
|
(No Data)
|
ATR/QM: Exempt
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
Credit
|
LTV/CLTV
|
Waived
|
C
|
B
|
C
|
B
|
CRDLTV3026
|
LTV Exceeds Guideline Requirement by at least 5%, but less than 10%
|
No
|
Qualifying LTV XXX% exceeds program maximum XXX%. Approved exception in file for the XXX% LTV exception.
|
10/14 Client provided an approved exception to allow the file at XXX% LTV
|
Upon review by XXX XXX, Condition is a Non Material B grade; Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1739: Postive mortgage payment history
- XXX Comments: Mortgage history reports XXX mos. 0x30 and XXX mos. 0x30.
CFCFS1736: Significant time at current residence
- XXX Comments: Guarantor 1 has XXX years at current residence. Guarantor 2 has XXX years XXX months at current residence.
CFCFS5269: Minimal use of credit
- XXX Comments: Minimal use of consumer credit. Credit line usage XXX%.
|
|
409024322
|
XXXXXX
|
XXXXXX
|
(No Data)
|
ATR/QM: Exempt
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
Credit
|
Terms/Guidelines
|
Waived
|
C
|
B
|
C
|
B
|
CRDTER3122
|
Loan documents do not meet guideline requirements
|
No
|
1. Missing full recourse personal guaranty by all owners.2. Missing certificate of good standing from state of organization for XXX
Lending.
|
10/14 Client provided the executed guaranty; Cert of Formation is not dated; Provide a processor Cert for date verified 10.21.2025 Client
provided executed Personal Guaranty and provided duplicate (previously provided) undated Cert of Formation to support good standing however is not dated. Condition remains for Certificate of good standing (dated prior to closing)10/21 Client
provided an approved exception to allow the undated formation cert
|
Upon review by XXX XXX, Condition is a Non Material B grade; Borrower credit score exceeds min required
|
(No Data)
|
Not Applicable
|
CFCFS1739: Postive mortgage payment history
- XXX Comments: Mortgage history reports XXX mos. 0x30 and XXX mos. 0x30.
CFCFS1736: Significant time at current residence
- XXX Comments: Guarantor 1 has XXX years at current residence. Guarantor 2 has XXX years XXX months at current residence.
CFCFS5269: Minimal use of credit
- XXX Comments: Minimal use of consumer credit. Credit line usage XXX%.
|
|
409024867
|
XXXXXX
|
XXXXXX
|
(No Data)
|
ATR/QM: Exempt
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
Credit
|
Assets
|
Satisfied
|
D
|
A
|
D
|
A
|
CRDAST2354
|
Asset Verification In File is Incomplete Per Requirements
|
No
|
Please verify the additional $XXX in EMD deposits has cleared the Borrower's account (XXX#XXX) prior to XXX. Note: Additional exceptions
may apply.
|
10-21-25 Client responded: I have attached the documents needed. The EMD deposit for XXX was a combination of 2 deposits. See attorney
letter explaining10-23-25 Client uploaded LLC docs.
|
10-22-25 XXX reviewed evidence of deposit totaling $XXX which came from a XXX bank account owned by XXX. Provide evidence that XXX is the
owner of XXX with full access to the funds in account #XXX. Exception remains. 10-23-25 XXX reviewed LLC docs reflecting XXX% ownership and bank statements which is acceptable based on deposits to account of over XXX per month. Exception
satisfied.
|
(No Data)
|
Not Applicable
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Credit score of XXX is XXX points above minimum program requirement of XXX.
CFCFS2860: Good credit history
- XXX Comments: Borrower has 0x30xXXX payment history on all open accounts.
CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments: Borrowers have 0x30xXXX months mortgage payment history exceeding guideline requirement of 1x30xXXX.
|
|
409024867
|
XXXXXX
|
XXXXXX
|
(No Data)
|
ATR/QM: Exempt
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
Credit
|
Credit/Mtg History
|
Waived
|
B
|
B
|
B
|
B
|
CRDCRMH2662
|
Number of mortgaged properties exceeds guideline limit
|
No
|
HEM' aggregate exposure to a single borrower and/or household shall not exceed $XXX in current unpaid principal balance (UPB) or four (4)
loans. File indicates borrower is financing two loans which appear to be the same amount - subject at $XXX+ $XXX for XXX + $XXX per fraud report for XXX (XXX) + $XXX property address unknown with note dated XXX.Borrower exceeds the $XXXXXX
deems non-material/non-fatal to lending decision due to compensating factors: Credit score XXX/XXX minimum, XXX months mortgage history/XXX required and Borrower has 0x30xXXX payment history on all open accounts.
|
11.03.2025 - Acknowledged by client.
|
11.03.2025 - Non-material exception remains.
|
(No Data)
|
Not Applicable
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Credit score of XXX is XXX points above minimum program requirement of XXX.
CFCFS2860: Good credit history
- XXX Comments: Borrower has 0x30xXXX payment history on all open accounts.
CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments: Borrowers have 0x30xXXX months mortgage payment history exceeding guideline requirement of 1x30xXXX.
|
|
409024873
|
XXXXXX
|
XXXXXX
|
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
|
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Verified reserves of $XXX or XXX months PITI reserves exceed required reserves of ($XXX x XXX = $XXX).
CFCFS1744: DTI below guideline requirement
- XXX Comments: DTI of XXX is below guideline requirement max of XXX.
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX is below guideline requirement max of XXX.
|
|||||||||||||||
|
409033580
|
XXXXXX
|
XXXXXX
|
(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
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: XXX mid-score per CBR.
CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments: XXX months of 0x30 consumer credit history per CBR.
CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments: XXX months of 0x30 mortgage history per VOM in file.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: XXX months of reserves in file; XXX required.
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV per review; XXX% LTV is maximum allowed per guidelines.
|
|||||||||||||||
|
409033585
|
XXXXXX
|
XXXXXX
|
(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
- XXX Comments: Assets: $XXX, XXX months, XXX months required.
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Credit score of XXX is above minimum program requirement of XXX.
CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments: Borrowers have 0x30xXXX months mortgage payment history exceeding guideline requirement of 1x30xXXX.
|
|||||||||||||||
|
409033597
|
XXXXXX
|
XXXXXX
|
(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
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: XXX FICO score is above the XXX min.
CFCFS1737: LTV below guideline requirements
- XXX Comments: XXX% LTV is below the XXX% max.
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: XXX in reserves are above the required XXX.
|
|||||||||||||||
|
409033626
|
XXXXXX
|
XXXXXX
|
(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
|
Waived
|
B
|
B
|
B
|
B
|
CRDCRMH183
|
Credit report incomplete
|
No
|
Missing credit report per Non-Agency guidelines XXX: A domestic credit report should be pulled on all Foreign National Borrowers using XXX
in place of a social security number. XXX deems non-material/non-fatal to lending decision due to compensating factors: XXX months Cash reserves/XXX required, XXX% LTV/XXX% maximum, High DSCR: XXX(Rents $XXX/ Expenses $XXX) and $XXX monthly
savings in mortgage payment.
|
12-12-25 Client replied: HEM accepts B grade12.23.2025- Acknowledged by client.
|
12-12-25 Non-material exception remains.
|
(No Data)
|
Not Applicable
|
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Cash Reserves $XXX, XXX months reserves, XXX months required
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV XXX% is below the maximum of XXX%
CFCFS1746: Significant housing expense reduction
- XXX Comments: Payment reduced by $XXX/month or XXX%
CFCFS1750: High potential for increased earnings
- XXX Comments: DSCR: XXX(Rents $XXX/ Expenses $XXX)
|
|
409033626
|
XXXXXX
|
XXXXXX
|
(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
|
CRDLGL1819
|
Estimated HUD-1 in File, Missing Final HUD-1
|
No
|
Provide Final HUD-1.
|
12-12-25 Client uploaded final HUD.
|
12-12-25 XXX reviewed and updated data points. Exception satisfied.
|
(No Data)
|
Not Applicable
|
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Cash Reserves $XXX, XXX months reserves, XXX months required
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV XXX% is below the maximum of XXX%
CFCFS1746: Significant housing expense reduction
- XXX Comments: Payment reduced by $XXX/month or XXX%
CFCFS1750: High potential for increased earnings
- XXX Comments: DSCR: XXX(Rents $XXX/ Expenses $XXX)
|
|
409033639
|
XXXXXX
|
XXXXXX
|
(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
|
CFCFS1741: Credit score exceeds guidelines
- XXX Comments: Credit score of XXX is above the required XXX
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX is below the maximum allowable of XXX
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Cash reserves: $XXX or XXX months of PITIA. XXX months required.
|
|||||||||||||||
|
409033714
|
XXXXXX
|
XXXXXX
|
(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
- XXX Comments: Credit score of XXX is above the required XXX
CFCFS1737: LTV below guideline requirements
- XXX Comments: LTV of XXX is below the maximum allowable of XXX
CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments: Cash reserves: $XXX or XXX months of PITIA. XXX months required.
|
|||||||||||||||
|
Client Name:
|
|||||||||||||||||||
|
Client Project Name:
|
SPIRE 2026-3
|
||||||||||||||||||
|
Start - End Dates:
|
5/9/2025 - 1/8/2026
|
||||||||||||||||||
|
Deal Loan Count:
|
19
|
||||||||||||||||||
|
Conditions Report 2.0
|
|||||||||||||||||||
|
Loans in Report:
|
19
|
||||||||||||||||||
|
Loans with Conditions:
|
11
|
||||||||||||||||||
|
Loan Number
|
Lender Application Date
|
Broker Application Date
|
Initial Securitization Overall Loan Grade
|
Final Securitization Overall Loan Grade
|
Initial Securitization Credit Loan Grade
|
Final Securitization Credit Loan Grade
|
Initial Securitization Property Valuations Loan Grade
|
Final Securitization Property Valuations Loan Grade
|
Initial Securitization Compliance Loan Grade
|
Final Securitization Compliance Loan Grade
|
Initial S&P Overall Loan Grade
|
Final S&P Overall Loan Grade
|
Initial S&P Credit Loan Grade
|
Final S&P Credit Loan Grade
|
Initial S&P Property Valuations Loan Grade
|
Final S&P Property Valuations Loan Grade
|
Initial S&P Compliance Loan Grade
|
Final S&P Compliance Loan Grade
|
Did Lender Acknowledge Exception at Origination
|
|
409013215
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
Not Applicable
|
|
409013462
|
XXXXXX
|
XXXXXX
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
No
|
|
409018241
|
XXXXXX
|
XXXXXX
|
C
|
A
|
C
|
A
|
A
|
A
|
N/A
|
N/A
|
C
|
A
|
C
|
A
|
A
|
A
|
N/A
|
N/A
|
Not Applicable
|
|
409019301
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
No
|
|
409019308
|
XXXXXX
|
XXXXXX
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
Not Applicable
|
|
409019320
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
No
|
|
409022124
|
XXXXXX
|
XXXXXX
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
D
|
B
|
C
|
B
|
A
|
A
|
D
|
A
|
Yes
|
|
409023740
|
XXXXXX
|
XXXXXX
|
D
|
A
|
D
|
A
|
A
|
A
|
A
|
A
|
D
|
A
|
D
|
A
|
A
|
A
|
A
|
A
|
Not Applicable
|
|
409024041
|
XXXXXX
|
XXXXXX
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
B
|
B
|
B
|
B
|
A
|
A
|
A
|
A
|
Yes
|
|
409024319
|
XXXXXX
|
XXXXXX
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
D
|
B
|
D
|
B
|
A
|
A
|
B
|
B
|
No
|
|
409024322
|
XXXXXX
|
XXXXXX
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
No
|
|
409024867
|
XXXXXX
|
XXXXXX
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
D
|
B
|
D
|
B
|
A
|
A
|
N/A
|
N/A
|
No
|
|
409024873
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
No
|
|
409033580
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
Not Applicable
|
|
409033585
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
No
|
|
409033597
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
Not Applicable
|
|
409033626
|
XXXXXX
|
XXXXXX
|
D
|
B
|
D
|
B
|
A
|
A
|
A
|
A
|
D
|
B
|
D
|
B
|
A
|
A
|
A
|
A
|
No
|
|
409033639
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
A
|
A
|
A
|
A
|
A
|
A
|
N/A
|
N/A
|
Not Applicable
|
|
409033714
|
XXXXXX
|
XXXXXX
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
A
|
Not Applicable
|