COLT SECURITIZATION DEPOSITOR, LLC ABS-15G

Exhibit 99.28

Loan ID

Mapped ID

Deal ID

Customer Loan ID

Seller Loan ID

Note Date

Original Loan Amount

Last Name

Property State

Occupancy

Purpose

Originator QM Status

TPR QM Status

Exception ID

Exception Number

Exception Date

Exception Type

Exception Subcategory

Exception

Exception Remedy

Rebuttal

TPR Response

Compensating Factors

Status Update Date

Finding Status

Initial Exception Grade

Final Exception Grade

Initial Loan Grade

Final Loan Grade

XXXX

4350121091

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Loan Purpose is Purchase but Purchase Contract Doc is Missing

Loan purpose is purchase and valuation type of purchase contract has not been selected. Missing copy of purchase contract with all addendums.

Document Uploaded. - XXXX

Purchase contract/Addendum provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121091

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Missing Lease Agreement

Missing lease agreement for departing residence and receipt of security deposit or first month’s rent supporting a monthly rent of XXXX.

Document Uploaded. - XXXX

Updated 1003 and 1008 were provided. Rental income is not being used, and full REO payment is included in DTI. - XXXX

XXXX

Resolved

XXXX

4350121091

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121093

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Property is Lease Hold

Property rights are leasehold. Per Lender Guidelines, Condominium Leaseholds are ineligible properties. There is no exception on file.

Document Uploaded. - XXXX

Document Uploaded. - XXXX

Exception approval provided. - XXXX

Condition upheld. Provide exception request form with compensating factors listed. - XXXX

LTV less than 70%, AND at least 5% less than guideline maximum. FICO higher than 740 AND at least 20 points higher than guideline minimum. Monthly reserves is verified AND at least 4 months more than guideline minimum. Qualifying DTI less than 35% AND at least 10% less than guideline maximum. Housing payment history is 0x30x24 or better, Borrower has worked in same industry more than 5 years. Borrower has worked in same job more than 3 years.

XXXX

Waived

XXXX

4350121093

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Condo - Warrantability

Condominium project is not warrantable, or documentation not provided to determine warrantability Condominium project is not warrantable. A formal exception is on file.

Mortgage History 0X30X90
<28% DTI
49+ Months Reserves
<57% LTV

XXXX

Waived

XXXX

4350121093

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121093

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121092

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Condo - Warrantability

Condominium project is not warrantable, or documentation not provided to determine warrantability Condo is Non warrantable with an active loan tied to building improvements and exterior work still in progress - Incomplete masonry work. A formal exception is in file.

The borrowers' FICO is higher than 740 and least 20 points higher than the minimum required. Housing payment History is 0x30x24 or better. The qualifying DTI is less than 36% and at least 10% less than the guideline maximum.

XXXX

Waived

XXXX

4350121092

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121102

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Subject property appraisal is not on an as-is basis (Primary Value)

Primary value subject property appraisal is not on an as-is basis. Broken window is required to to be repaired.

Document Uploaded. Please see the attached 1004D - XXXX

Completion Cert provided. Condition resolved. - XXXX

Primary Value Subject Property Appraisal is completed on an As-Is Basis or Not Applicable - XXXX

XXXX

Resolved

XXXX

4350121102

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Cash reserves less than required by guidelines

Insufficient assets documented to meet reserve requirement. Assets short XXXX. Total Cash reserves of '$-XXXX' are less than XXXX.

The XXXX in PITIA reserves collected at close should be factored into the borrowers reserve requirement. Does not appear to be factored in. - XXXX

9 months reserves were collected at closing per the Final Settlement Statement. Condition resolved. - XXXX

Total Cash reserves are greater than XXXX. - XXXX

XXXX

Resolved

XXXX

4350121102

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121102

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited Reserves are less than Guideline Required Reserves (Number of Months)

Audited reserves months are less than the guideline required reserve months.

The XXXX in PITIA reserves collected at close should be factored into the borrowers reserve requirement. Does not appear to be factored in. - XXXX

9 months reserves were collected at closing per the Final Settlement Statement. - XXXX

Audited Reserves of month(s) are greater than or equal to Guideline Required Reserves of month(s) - XXXX

XXXX

Resolved

XXXX

4350121120

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121120

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121120

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121096

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121096

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121096

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Missing Lease Agreement

Missing documentation of security deposit.

Document Uploaded. Lease uploaded - Security deposit is called out as being paid to realtor. Proof of rent uploaded was pro-rated XXXX rent (reasoning for amount < full XXXX) - and full XXXX rent. - XXXX

Document Uploaded. Please see the attached. - XXXX

Lease Agreement, and evidence of Security Deposit and evidence of pro-rated XXXX rent and full XXXX rent were provided. Condition resolved. - XXXX

Condition upheld. Statement for XXXX showing XXXX income was provided. XXXX Deposit slip for XXXX was provided. XXXX Bank statement not showing the XXXX deposit was provided. Monthly Rent is XXXX. There is no evidence that Security Deposit that equals one months rent was paid and received. - XXXX

XXXX

Resolved

XXXX

4350121101

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121101

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121101

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121106

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary.

Our loan files do not include 1008's - XXXX

Condition set in error. XXXX1 loans do not contain a 1008. - XXXX

Approval/Underwriting Summary is fully present - XXXX

XXXX

Resolved

XXXX

4350121106

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121106

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121109

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

1-4 Family Rider is Missing

The file is missing the 1-4 Family Rider.

Document Uploaded. Assignment of leases attached. - XXXX

COLLATERAL ASSIGNMENT OF LEASES AND RENTS was provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121109

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Eligibility - Borrower Identity

The loan file reflected potential identity issues. No evidence of borrowers XXXXzenship

Document Uploaded. ID provided is borrowers permanent resident/green card. Please confirm what additional documents would be needed to confirm XXXXzenship. - XXXX

Front and back of Perm Resident Card provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121109

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121109

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Term and Amortization Term do not match

Loan term and amortization term do not match. .

Loan Term and Amortization Term match - XXXX

XXXX

Resolved

XXXX

4350121100

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121100

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121100

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121098

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Calculated Initial Payment and Initial Principal and Interest Payment do not match

Calculated Initial P&I Payment Amount does not match Initial P&I Payment Amount.

Please advise on resolution. Our system rounds this to XXXX - Not seeing Mx calculated payment. - XXXX

Calculated Initial P&I Payment Amount matches Initial Payment Amount - XXXX

Calculated Initial P&I Payment Amount does not match Initial P&I Payment Amount. - XXXX

Payment not matching is due to the Commercial Promissory Note Dated XXXX Section 1A: From the date hereof, interest on the principal amount of this Note shall accrue at the rate of 7.25% per annum, for the period from the date hereof to and including XXXX shall be payable at the closing of the loan. First payment date is XXXX, and Maturity date is XXXX. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121098

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary.

Our loan files do not include 1008's - XXXX

1008/Loan Approval is not required. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121098

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121098

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121123

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Borrower 1 Credit Report is Expired

Borrower 1 Credit Report is Expired (Greater than 120 days from the Closing Date).

Document Uploaded. Please see the attached internal exception. - XXXX

Document Uploaded. Please see the attached soft credit pull per guidelines to extend existing hard pull. - XXXX

Exception provided for expired credit report - XXXX

Condition upheld. A soft-pull credit report dated XXXX (13 days after disbursement) was provided. The post-close credit report does not cure the the fact that the credit report was expired at closing. And further more the post-close credit report shows a repository as being frozen which is against guidelines. An Approved Exception will be required. - XXXX

FICO> min by 20 points; 0x30x24; PITIA Reserves above min by 6+ months

XXXX

Waived

XXXX

4350121123

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121123

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121105

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Hazard Insurance Policy is Partial

Hazard insurance policy partially provided. Hazard policy premium of XXXX4 in file does not support final HUD figure of XXXX monthly. Please provide explanation and updated policy

Document Uploaded. XXXX per month if for the total of XXXX (1,954 for GL coverage & 7,635.60 for hazard) - Insurance docs attached for review. - XXXX

Explanation and evidence of HOI policies were provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121105

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121105

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121097

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

1-4 Family Rider is Missing

The file is missing the 1-4 Family Rider.

Document Uploaded. Assignment of leases uploaded. - XXXX

COLLATERAL ASSIGNMENT OF LEASES AND RENTS was provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121097

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary. Missing the 1008/ Underwriting Summary from the loan file.

Our loan files do not include a 1008 - XXXX

Condition set in error. XXXX 1 loans do not require a 1008. - XXXX

XXXX

Resolved

XXXX

4350121097

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Third Party Fraud Report not Provided

Missing third party fraud report. Missing the third party report from the loan file.

SmartXXXX Person Report was provided. Condition resolved. - XXXX

Document Uploaded. Borrower background / fraud report attached. - XXXX

XXXX Person Report was provided. Condition resolved. - XXXX
Third party fraud report is provided - XXXX

XXXX

Resolved

XXXX

4350121097

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121103

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

1-4 Family Rider is Missing

The file is missing the 1-4 Family Rider.

Document Uploaded. Assignment of leases attached. - XXXX

Assignment of leases - XXXX

XXXX

Resolved

XXXX

4350121103

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121103

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121121

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121121

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121121

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Calculated DSCR does not meet the Minimum DSCR allowed

The Calculated DSCR of '0.904' is less than the minimum required DSCR of'1'. Note provided shows a P&I payment of XXXX vs actual amortized P&I payment of XXXX. The Note is only listing the Interest payment and there is no evidence of the loan being Interest Only."

Document Uploaded. Please see the attached amendment - XXXX

FIRST AMENDMENT TO PROMISSORY NOTЕ was provided. Condition resolved. - XXXX

The Calculated DSCR is equal to or greater than the minimum required DSCR, or Not Applicable - XXXX

XXXX

Resolved

XXXX

4350121121

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Calculated Initial Payment and Initial Principal and Interest Payment do not match

Calculated Initial P&I Payment Amount does not match Initial P&I Payment Amount.

Calculated Initial P&I Payment Amount matches Initial Payment Amount - XXXX

XXXX

Resolved

XXXX

4350121104

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

Missing Prepayment Rider

Pre-payment clause within subject loan Note. Please advise, have not seen this condition/ask before. - XXXX

Prepayment verbiage imbedded in the note - XXXX

XXXX

Resolved

XXXX

4350121104

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121104

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121108

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

Late Charge Percent is greater than allowable

Late charge percent is greater than allowable.

Business purpose loan, late charge has been consistent for all loans XXXX. - XXXX

Not applicable on DSCR loans - XXXX

XXXX

Resolved

XXXX

4350121108

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121108

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Hazard Insurance Coverage Amount is less than Required Coverage Amount

HOI documentation in file does not state RCE policy/information Coverage Amount - Hazard insurance amount is less than required coverage amount.

Document Uploaded. Please see the attached dec page, FE-3650 coverage included "Actual cash value" confirmed 100% replacement cost. - XXXX

Document Uploaded. Documentation provided to show HOI Policy has Replacement Cost. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121107

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Flood Certificate Missing

Missing flood certificate.

Document Uploaded. Flood cert attached. - XXXX

Flood Cert provided. Condition resolved. - XXXX

Flood Certificate is fully present - XXXX

XXXX

Resolved

XXXX

4350121107

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121107

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Document Uploaded. Borrower credit report is attached - Not familiar with "Gap" credit. - XXXX

Condition set in error. GAP/UDM Reports are not required on DSCR loans. - XXXX

Borrower 1 Gap Credit Report is not missing. - XXXX

XXXX

Resolved

XXXX

4350121107

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121107

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

The Final 1003 is Missing

The final 1003 is missing. Missing application

Document Uploaded. - XXXX

The final 1003 has been provided. - XXXX

XXXX

Resolved

XXXX

4350121119

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

1-4 Family Rider is Missing

The file is missing the 1-4 Family Rider.

Document Uploaded. assignments of rents attached. - XXXX

Assignment of resnts provided - XXXX

Assignment of resnts provided - XXXX

XXXX

Resolved

XXXX

4350121119

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121119

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121118

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121118

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121118

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121122

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Property Title Issue

Property title issue. The title commitment number is not reflect on the document in file.

Document Uploaded. Please see the attached - XXXX

Updated Title provided. Condition resolved. - XXXX

Property Title Issue Resolved - XXXX

XXXX

Resolved

XXXX

4350121122

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121122

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121112

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121112

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Delinquent Credit History Does Not Meet Guideline Requirements

Delinquent Credit History does not meet guideline requirements. Guidelines require 0x30 in the past 24 months. Borrowers credit report reflects a 30 day late on a mortgage dated XXXX

Document Uploaded. Please see the attached. - XXXX

Approved Exception in file for: 2nd guarantor on the subject loan has 1x30x12. Loan includes 2 PG’s with a qualifying FICO of 785 - XXXX

LOE explains this as a one time issue that was cured immediately. No other historical MTG lates with 7 open/active accounts. Additional PG with 785 Mid FICO used as
qualifying score and payment history is clean.

XXXX

Waived

XXXX

4350121112

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121110

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121110

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121110

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121117

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

1-4 Family Rider is Missing

The file is missing the 1-4 Family Rider. Assignment of Rents and Leases provided.

XXXX

Waived

XXXX

4350121117

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121117

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121111

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

HUD-1 not executed properly

Document Uploaded. Signed HUD attached. - XXXX

Reveiced signed HUD - XXXX

XXXX

Resolved

XXXX

4350121111

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121111

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121113

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121113

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121113

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121114

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121114

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121114

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121124

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

Missing Prepayment Rider

Preliminary Loan Summary indicates PPP but no rider is in file. Pender to confirm if there is a PPP.

Document Uploaded. PPP Terms called out in subject Note - XXXX

PPP was located in the subject note. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121124

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Ther is no mortgage hisotry for XXXX Servicing. There are reported mortgage payments for 3 months but it can not be tied to the subject.

Document Uploaded. Exception approval uploaded. - XXXX

Subject VOM and Payoff is for a blanket loan that covered multiple properties - XXXX

Exception provided for mortgage lates - XXXX

Condition upheld. VOM states that there are 2 delinquent payments. Guidelines state 0x30 in last 24 months. - XXXX

FICO > 20 points; PITIA reserves above minimum by 6+ months

XXXX

Waived

XXXX

4350121124

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121124

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121115

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121115

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121115

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121116

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121116

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121116

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121125

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Credit Profile - Mortgage/Rental Lates

The loan file verified mortgage/rental lates which exceeded guidelines. Per guidelines: “No 0x30 in the past 24 months. Mortgage delinquencies >24mo will require an LOE.” Per Mortgage Statement in file for Subject property, the loan had been two times delinquent in the prior 12 months.
Review did not locate a letter of explanation or other documentation to address delinquencies.

Document Uploaded. Please see the attached internal exception approval. - XXXX

Received exception for mortgage lates - XXXX

FICO > 20 points; PITIA reserves above min by 6+ months

XXXX

Waived

XXXX

4350121125

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121125

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120995

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120995

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120995

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120996

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120996

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120996

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120992

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120992

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Missing Doc - 3rd Party Valuation Product/Missing

The loan file did not contain the required 3rd party valuation product.

Document Uploaded. Attached is FNMA SSR - XXXX

CU with a score of 1 was provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120992

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120993

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. The guidelines for the P&L program require verification and validation of the tax preparer.

Document Uploaded. TAX PREPARER LICENSE LOOKUP IS ATTACHED. - XXXX

Tax preparer credential provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120993

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Document Uploaded. ATTACHED - XXXX

GAP CR provided. Condition resolved. - XXXX

Borrower 1 Gap Credit Report is not missing. - XXXX

XXXX

Resolved

XXXX

4350120993

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Please provide documentation to support property taxes for XXXX, XXXX and XXXX properties.

Document Uploaded. ATTACHED - XXXX

Property reports provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120993

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120993

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Charges That In Total Cannot Increase More Than 10% Test XXXX

The total amount of the 10% category fees on the last Closing Disclosure (XXXX) has increased by more than 10% over the current baseline value of (XXXX). The total amount of fees in the 10% category cannot exceed (XXXX). The following fee(s) have either increased from their baseline disclosure or have been recently added: (Recording Fees – Mortgage/Deed of Trust). Any increase to an existing fee and/or the addition of a new fee that causes the 10% category threshold to be exceeded cannot occur unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee(s) or new fee(s). (12 CFR 1026.19(e)(3)(ii); 12 CFR 1026.19(e)(3)(iv)). The Mortgage Recording Fee on like 01 of Section E of the Closing Disclosure dated XXXX increased to XXXX from XXXX on all other prior Closing Disclosures and Loan Estimates without a valid change of circumstance.

Document Uploaded. - XXXX

Document Uploaded. Attached is the COC for increase in loan amount and the recording fees accordingly.
- XXXX

Received CIC for the increased recording fee - XXXX

Rate lock extension, pricing adjustment, interest rate increase or loan amount increase are not valid reasons for the recording fee to increase. - XXXX

XXXX

Resolved

XXXX

4350121055

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Eligibility - Investor Experience

The borrower(s) investor experience does not meet guideline requirements. Final 1008 states that an exception was made for FTHB/investor; however, the exception is not documented in the file. Guidelines require First-Time Investors to demonstrate a six (6) month primary mortgage history. The file contains only rental history for the borrower.

Document Uploaded. Approved exception - XXXX

Exception approval provided. Condition waived. - XXXX

The monthly reserves is verified and at least 4 months more than guidelines minimum. The LTV is less than 70%, and at least 5% less than guideline maximum.

XXXX

Waived

XXXX

4350121055

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121055

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - AVM/BPO/Desk Review did not support Value within -10%

The 3rd party review product did not support the value within a -10% variance. The file contains XXXX CU and XXXX UCDP findings; however, no analysis was performed or documented in the file.

Document Uploaded. CDA - XXXX

3rd party valuation provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121055

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited FICO is less than Guideline FICO

Audited FICO is less than guideline FICO. Qualifying FICO score was 659, when guidelines require for First Time Investor who is also a First Time Homebuyer a minimum of a 700 FICO score.

Document Uploaded. Approved Exception - XXXX

Exception approval provided. Condition waived. - XXXX

The monthly reserves is verified and at least 4 months more than guidelines minimum. The LTV is less than 70%, and at least 5% less than guideline maximum.

XXXX

Waived

XXXX

4350121055

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Title - Ownership Issue

Title documents provided in the loan file reflected potential ownership issues. Missing transfer deed (Warranty Deed, Grant Deed) vesting subject property in borrower's name per Mortgage.

Document Uploaded. DEED - XXXX

Transfer deed provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121056

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Third Party Fraud Report not Provided

Missing third party fraud report. The 3rd party fraud report is not in file.

Document Uploaded. fraud - XXXX

3rd party fraud report provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121056

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121056

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Audited DTI Exceeds Guideline DTI

Audited DTI exceeds guideline DTI. The lender allows expanded DTI to 55%. However, expanded DTI limits are not available without a complete 12-month housing history. The file contains 4 months cancelled checks to verify the borrowers rent.

Document Uploaded. CD from Sale and Divorce Decree - XXXX

CD from Sale and Divorce Decree provided. Home was sold XXXX XXXX. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121056

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Missing or incomplete income documentation for 1 or 2 Year Full Doc

Verified Doc Type is '2YR Full Doc' but provided income documentation for Borrower 1 Personal Tax Returns, Business Tax Returns, or W2/1099 is not '2 YRS', or insufficient verified Paystubs were provided. A formal exception is in file for the requirement of 6 months income verification not being met.

The loan has an LTV of 56%.
The borrowers FICO score of 750 is 70 points over the required FICO.

XXXX

Waived

XXXX

4350121056

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Appraisal - Photos Missing

The loan file did not contain appraisal photos as required. Appraisal photos are black and white; colored photos are required. AVM photos are black and white; colored photos are required.

Document Uploaded. appraisal color photos - XXXX

Updated appraisal provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120994

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120994

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120994

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121003

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121003

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121003

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121003

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

The Note is Incomplete

The Note is incomplete. The note is signed and dated prior to the date of the note.

Document Uploaded. - XXXX

Received note - XXXX

XXXX

Resolved

XXXX

4350121005

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Loan Originator XXXX Status is Not Active

Loan Originator XXXX status is not active. Missing updated XXXX for Loan Originator shows inactive

Received confirmation of LO license - XXXX

Document Uploaded. LO XXXX XXXX and Company XXXX are both able to conduct business inXXXX- per XXXX lookup. - XXXX

Received confirmation of LO license - XXXX

XXXX

Resolved

XXXX

4350121005

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Cash reserves less than required by guidelines

Total Cash reserves of '$-XXXX' are less than XXXX. Missing additional funds for reserves of $XXXX - per 1008 UW states that borrower has additional assets /loan proceeds of XXXX

Document Uploaded. CS approval - formal approval - provided - XXXX

Document Uploaded. Requires variance - CS approved variance to CS guides - post balancing, borrower was just shy of 9 mos. per CS matrix. Loan meets investor min. guides of 6 mos. - Updated 1008 provided with variance - XXXX

Exception approval provided. - XXXX

Condition upheld. Guideline matrix provided XXXX require 9 months. Provide approved exception. - XXXX

LTV is less than program Max of 70%.. The is DTI < 40% and residual income > XXXX.

XXXX

Waived

XXXX

4350121005

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121002

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121002

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121002

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121004

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121004

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

OFAC Check Not Completed and/or Cleared

OFAC check not completed and/or cleared. Missing OFAC Clearance of XXXX Corp

Document Uploaded. - XXXX

OFAC Check Completed and Cleared provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121004

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower - Residency Alien Documentation

The borrower indicates Resident Alien status, however, the file contains no evidence documenting status as legally. Per guidelines VISA category C08 is not reflected as an eligible Visa type. The file contains an Employment Authorization reflecting Category C08. Per the guidelines this does not appear to be acceptable

Document Uploaded. Investor approval provided - XXXX

Exception approval provided. - XXXX

FICO is higher than 740 and at least 20 points higher than guideline minimum.

XXXX

Waived

XXXX

4350121004

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121006

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121006

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121006

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121009

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121009

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121009

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121007

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121007

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121007

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121008

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Missing Doc - Affiliated Business Disclosure/Missing

Required Affiliated Business Disclosure missing

Document Uploaded. - XXXX

Confirmed no affiliates - XXXX

XXXX

Resolved

XXXX

4350121008

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121008

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121000

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

The Deed of Trust is Incomplete

The Deed of Trust is incomplete. Provide full copy of the executed Proprietary Lease. Proprietary Lease is not signed.

Document Uploaded. - XXXX

Received executed lease - XXXX

XXXX

Resolved

XXXX

4350121000

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121000

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX - Tax & Insurance Impounds (Subprime)

XXXX Banking Law requires tax and insurance impounds in a "subprime home loan." (XXXX 6-M(2)(O)) Escrow account for taxes and insurance is required.

This is not applicable. property is a coop. no taxes on a coop. - XXXX

Property is a co-op - XXXX

XXXX

Resolved

XXXX

4350121000

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX - Subprime Home Loan (First Lien)(02/10)

This is a XXXX "subprime home loan." The loan's current APR (7.826%) exceeds the XXXX Subprime Home Loan threshold of (7.73%) by (0.096). The threshold is determined by adding 1.75 points to the comparable XXXX PMMS rate. (XXXX 6-m(1)(c)) Final CD disclosed APR is 7.826%.

Document Uploaded. The subprime language is on the top of the 1st page of the note and loan security agreement. Attached documents.
- XXXX

CompliantXXXXsub-prime loan - XXXX

XXXX

Resolved

XXXX

4350121000

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120997

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Document Uploaded. - XXXX

GAP/UDN Report provided. Condition resolved. - XXXX

Borrower 1 Gap Credit Report is not missing. - XXXX

XXXX

Resolved

XXXX

4350120997

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Borrower 2 Gap Credit Report is Missing

Document Uploaded. - XXXX

GAP/UDN Report provided. Condition resolved. - XXXX

Borrower 2 Gap Credit Report is not missing. - XXXX

XXXX

Resolved

XXXX

4350120997

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary.

Document Uploaded. - XXXX

1008 provided. Condition resolved. - XXXX

Approval/Underwriting Summary is fully present - XXXX

XXXX

Resolved

XXXX

4350120997

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Third Party Fraud Report not Provided

Missing third party fraud report.

Document Uploaded. - XXXX

Third party fraud report is provided - XXXX

XXXX

Resolved

XXXX

4350120997

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Verification Documentation - Expired

The following loan documents were expired at the time of closing. Borrowers' drivers license expired XXXX

Document Uploaded. - XXXX

Updated ID's were provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120997

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120997

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Missing Doc - 3rd Party Valuation Product/Missing

The loan file did not contain the required 3rd party valuation product.

Document Uploaded. - XXXX

CDA supporting value was provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120999

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120999

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

Property

Condo - Warrantability

Condominium project is not warrantable, or documentation not provided to determine warrantability Guidelines state non-warrantable condominium projects are ineligible for lending if subject to material litigation - structural/functional litigation against developer. Per condominium questionnaire, the subject development is currently in litigation. Per XXXX attorney letter (1.5 years old), litigation Docket #HUD-L-2172-23 pertains to alleged defects in the design and construction of the common elements of the condominium. The letter is dated and doesn't address the aforementioned project litigation concern.

Document Uploaded. - XXXX

Approved Exception provided for: Property is non warrantable due transition litigation. There was a vent on the top floor that was experiencing a leak and has been since the property was constructed by the developer. Also they state that temporary repairs have been effectuated to address hazardous conditions and render utility systems operational. Property has outstanding condition or litigation that does not meet guideline requirements. - XXXX

50% LTV, 785 Fico, 30+ months reserves
LTV less than 70%, AND at least 5% less than guideline maximum
Monthly reserves is verified AND at least 4 months more than guideline minimum
FICO higher than 740, AND at least 20 points higher than guideline minimum

XXXX

Waived

XXXX

4350120999

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

Credit

Liabilities - Not Verified

The application lists debts that were not verified on the credit report and not XXXXly verified. Primary residence HOA XXXX monthly per loan application.

Document Uploaded. - XXXX

Evidence of Primary housing payment was provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120999

XXXX

Investment

Purchase

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

Credit

Missing Tax Cert

Subject property to support XXXX monthly per final Closing Disclosure as purchase transaction. Tax certification in file supports XXXX quarterly XXXX = XXXX monthly.

Document Uploaded. - XXXX

Tax Cert provided, supports XXXX monthly. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121001

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary.

Document Uploaded. - XXXX

Approval/Underwriting Summary provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121001

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121001

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121010

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121010

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Liabilities - Not Verified

The application lists debts that were not verified on the credit report and not XXXXly verified. Provide supporting document to verify Credit liabilities reported on 1003 of XXXX and XXXX

Document Uploaded. Please see the Drive report that lists the liabilities. - XXXX

Drive report with liabilities showing provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121010

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121011

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121011

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121011

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121081

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited Loan Amount is less than Guideline Minimum Loan Amount

Audited loan amount is less than the guideline Minimum loan amount. Minimum loan amount per guidelines is XXXX. Subject loan amount XXXX does not meet guidelines. Please provide an exception loan amount.

Document Uploaded. - XXXX

Approved Exception provided for the Loan Amount of XXXX. - XXXX

FICO of 706 over minimum of 680, 120+ months reserves.

XXXX

Waived

XXXX

4350121081

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121081

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121063

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121063

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

Missing evidence of rate lock

Missing evidence of Rate Lock.

Document Uploaded. - XXXX

Received rate lock - XXXX

XXXX

Resolved

XXXX

4350121063

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Condo - HOA Budget Missing

The loan file did not contain the HOA budget as required. To confirm that at least 10% of annual budgeted assessment income for replacement reserves. The condominium questionnaire stated see financials which were not provided. The guidelines state the condominium project is to be agency warrantable, and a XXXX Form 1076 Condominium Project Questionnaire was provided, which is indicative of a full project review.

Document Uploaded. - XXXX

Condo budget report provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121063

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. DSCR cash out refinance transaction with 680 credit score and a DSCR ratio less than 1.0 when guidelines require a minimum 1.0 DSCR score - A formal exception is in file.

Compensating factors used were Borrower is a seasoned investor who has more than two properties with 12 months as agreed payment history.

XXXX

Waived

XXXX

4350121046

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121046

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121046

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121042

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121042

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121042

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Subject property Short Term Rental Income does not meet qualification

Short term rental income is not properly documented and/or does not meet guidelines. Missing how the XXXX0 was arrived at when the appraisal 216 states rents @ XXXX0 and the leases in file support XXXX00 (total).

Document Uploaded. For Unit 1 we are using the Market rent value indicated on the appraisal report

For Unit 2 (the larger unit) the borrower provided 2 months rent check receipts and lease agreement. Therefore we increased the appraisal market rent of XXXX to XXXX (125%)

Unit 1 XXXX & Unit 2 XXXX = XXXX

Our DSCR value is still over 1 - XXXX

With the Leases and rental receipts (deposited) we increased the 1007 rental income by 125% per guidelines, giving us a max rental amount considered XXXX which is still less than the lease agreement amount. - XXXX

Evidence of 2 months rent was provided. Condition resolved. - XXXX

Condition upheld. Missing the evidence of rental payment receipt. There are three print-outs in file all dated the same date at the same time. There is no evidence that these are not one in the same, who they are from, etc. Provide evidence of monthly rental income from each tenant. - XXXX

XXXX

Resolved

XXXX

4350121060

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Missing Service Provider List

The loan file does not contain the Service Provider List.

Document Uploaded. - XXXX

Received SPL - XXXX

XXXX

Resolved

XXXX

4350121060

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

AbilityToRepay: QMPointsAndFees

The loan fees (XXXX) exceed the (QM) (Note Amount >=XXXX) fee limit, which is 3% of the Total Loan Amount (XXXX), the difference is (XXXX). (12 CFR 1026.43(e)(3). Loan is Non-QM.

Not sure what to address here. Loan is Non-QM and subject to 5% - XXXX

Loan is nonQM. Finding in error - XXXX

XXXX

Void

XXXX

4350121060

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Federal - Right of Rescission (Loan Disbursement Violation) (TILA)

The loan disbursement date (XXXX) is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" (XXXX). Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) Disbursement date is XXXX. Rescission expiration date is XXXX. Please provide a Post-Closing CD reflecting the correct loan disbursement date according to the borrower's execution of final loan docs at closing.

Document Uploaded. - XXXX

Received PCCD correcting the disbursement date - XXXX

XXXX

Resolved

XXXX

4350121060

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Asset 1 Less Than 2 Months Verified

Asset has less than 2 months verified in file.

Document Uploaded. UW used cash out for reserves but failed to remove the asset from 1003/1008 and submitted CLP. Attached is revised 1003/1008 removing asset. Please review and clear condition. - XXXX

UW used cash out for reserves but failed to remove the asset from 1003/1008 and submitted CLP. Revised 1003/1008 removing asset provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121060

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Missing Income - Bank Statements

Missing bank statements to complete a full year income for account *XXXX ***

The borrower transitioned using his personal account for business (XXXX) to opening an actual business account (XXXX). You can see this is absolutely supported by the 12 mos personal bank statements provided the deposits dropped off in personal account when the business account was opened XXXX. Please clear condition. - XXXX

The borrower transitioned using his personal account for business (XXXX) to opening an actual business account (XXXX). 12 months personal bank statements provided the deposits dropped off in personal account when the business account was opened XXXX. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121060

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121058

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121058

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121058

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121022

XXXX

Primary Residence

Refinance

QM: Higher Priced APOR (APOR HP)

XXXX

Compliance

Missing Tangible Net Benefit Disclosure

The Tangible Net Benefit Disclosure was not provided. The Underwriter Summary reflects this is not required, however, refinances, especially a cash out refinance on an unseasoned XXXX mortgage do require this.

NTB is generally applicable to refinance transactions—particularly rate/term or streamline refinances—where there is a requirement to demonstrate a clear benefit to the borrower.
In this case, the loan is structured as a delayed financing cash-out transaction, which is treated more as a reimbursement of funds used to acquire the property rather than a traditional refinance. As such, the borrower is simply recouping their original investment, and an NTB analysis is not applicable. - XXXX

Confirmed though documentation in the file the mortgage payoff is a 6 month interest only balloon payment. A NTB is not required. - XXXX

XXXX

Resolved

XXXX

4350121022

XXXX

Primary Residence

Refinance

QM: Higher Priced APOR (APOR HP)

XXXX

Property

Property Issue - Neighborhood Location

The subject appraisal verified a neighborhood location not allowed per guidelines. per guideline, rural property is eligible up to XXXX Acres with LTV ≤ 70%.

Document Uploaded. - XXXX

Approved Exception provided for the Subject property being Rural. - XXXX

LTV < 70% and 5% less than Max, Qualifying DTI < 35% and 10% < max, Disposable income >XXXX per month

XXXX

Waived

XXXX

4350121022

XXXX

Primary Residence

Refinance

QM: Higher Priced APOR (APOR HP)

XXXX

Credit

Credit Profile - Insufficient Tradelines

The documented tradelines do not meet the minimum tradelines required per guidelines. The exception is missing

Document Uploaded. - XXXX

Approved Exception was provided for insufficient credit history. - XXXX

LTV < 70% and 5% less than Max, Qualifying DTI < 35% and 10% < max, Disposable income >XXXX per month

XXXX

Waived

XXXX

4350121022

XXXX

Primary Residence

Refinance

QM: Higher Priced APOR (APOR HP)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121022

XXXX

Primary Residence

Refinance

QM: Higher Priced APOR (APOR HP)

XXXX

Credit

Borrower 1 CPA Letter Missing

Borrower 1 CPA letter missing from the file.

Document Uploaded. - XXXX

Borrower 1 CPA letter missing from the file. Approved Exception in file for P&L being prepared by a PTIN not a CPA was provided. - XXXX

LTV < 70% and 5% less than Max, Qualifying DTI < 35% and 10% < max, Disposable income >XXXX per month

XXXX

Waived

XXXX

4350121022

XXXX

Primary Residence

Refinance

QM: Higher Priced APOR (APOR HP)

XXXX

Credit

Verification Documentation - Employment History

The employment and/or income verifications do not substantially match the loan application and/or credit report information.

Document Uploaded. - XXXX

The employment and/or income verifications do not substantially match the loan application and/or credit report information. Approved Exception provided for not having a Business Internet Search. - XXXX

LTV < 70% and 5% less than Max, Qualifying DTI < 35% and 10% < max, Disposable income >XXXX per month

XXXX

Waived

XXXX

4350121041

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited CLTV Exceeds Guideline CLTV

Audited CLTV exceeds guideline CLTV. Missing exception for 1st time home buyer max LTV 70%. Loan approved/qualified with 80% LTV. Exception already in file is for 1st home buyer, not including exception for LTV.

We have an internal FTHB exception already in file. The exception for FTHB is the LTV exception. We recognized it is FTHB and LTV requirements allowing it to be at 80% per exception form. - XXXX

Condition set in error. LTV Condition covers this. - XXXX

XXXX

Void

XXXX

4350121041

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited HCLTV Exceeds Guideline HCLTV

Audited HLTV exceeds guideline HCLTV. Missing exception for 1st time home buyer max LTV 70%. Loan approved/qualified with 80% LTV. Exception already in file is for 1st home buyer, not including exception for LTV.

Document Uploaded. - XXXX

Condition set in error. LTV Condition covers this. - XXXX

XXXX

Void

XXXX

4350121041

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Missing exception for 1st time home buyer max LTV 70%. Loan approved/qualified with 80% LTV. Exception already in file is for 1st home buyer, not including exception for LTV.

Document Uploaded. - XXXX

Approved Exception provided for: FTHB and using 80%LTV. - XXXX

FICO (764) ≥ 740 and 20 points higher than minimum, 5 year PPP.

XXXX

Waived

XXXX

4350121041

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per guidelines-First Time Homebuyers: First Time Home Buyers (“FTHB”) are allowed on an exception basis. Loan approve/qualified as 1st time home buyer. A formal exception is in file.

Compensating factors-Borrower FICO >= 740 and 20 pt higher than minimum. Pre-payment >= 3 years. Borrower has good remaining assets after reserves reduction.

XXXX

Waived

XXXX

4350121041

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121041

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121024

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121024

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121024

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Exception is present for waiving lease agreement, property is vacant, loan is interest only with ltv 73%.

Housing History 0x30x24 actual 74 months rated and Prepayment penalty of 3 years.

XXXX

Waived

XXXX

4350121024

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited FICO is less than Guideline FICO

Audited FICO is less than guideline FICO. Guidelines require for DSCR less than 1.0 score, refinance transaction a minimum score of 720, when qualifying credit score was 707. The exception provided did not specify there was a credit score exception.

Document Uploaded. - XXXX

Approved exception in file for FICO of 707 being below min. - XXXX

PPP > 3 years, housing history 0x30x24, 50 months reserves.

XXXX

Waived

XXXX

4350121024

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Duplicate - Exception already launched for LTV.

Approved exception in file for 73% LTV. - XXXX

PPP > 3 years, housing history 0x30x24, 50 months reserves.

XXXX

Waived

XXXX

4350121038

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Delinquent Credit History Does Not Meet Guideline Requirements

Delinquent Credit History does not meet guideline requirements. Per guidelines, any mortgages reported on the credit report must reflect a 0x30x12 payment history. There are 4 late payments showing on the XXXX/XXXX. XXXX mortgage on the account with two lates in the last 12 months. Also, no verification of the brother making the payments was found in the loan documents.

Document Uploaded. - XXXX

There were late payments but it still shows proof that the brother paid and the brother was responsible for the payments and not our borrower. - XXXX

Document Uploaded. see attached additional statements proof of brother paying solely so no exception required. - XXXX

Document Uploaded. Last 2 showing current paid without late. History of brother paying last 2 months. - XXXX

Approved Exception provided for late payment on Mortgage. - XXXX
The Mortgage is on her credit report.  she is either obligated or a co-signor.  Provide exception for late payments. - XXXX
Condition upheld.  Per the Bank Statements and MLS statements provided there are no payments listed on the statements for XXXX - XXXX, XXXX - XXXX, and XXXX - XXXX.  On v Borrower's brother made two payments.  Missing evidence of two months payments and account is not 0x30 as required per guidelines.   - XXXX
Condition upheld.  12 months proof of another making the payment is required.  The borrower still has 2x30 in last 12 months.  An exception would be required. - XXXX

Borrower has worked in same job for ≥3 years, Borrower has worked in same industry ≥ 5 years, FICO 734.

XXXX

Waived

XXXX

4350121038

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121038

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121034

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. The loan was approved with an LTV of 80%, but the maximum LTV for a first time homebuyer is 70%. A formal exception is located in the loan file.

The loan has a prepayment penalty greater than or equal to 3 years. The Borrower has a FICO of 732 which is more than 10 points greater than the minimum allowed.

XXXX

Waived

XXXX

4350121034

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121034

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. The borrower is a first-time homebuyer. Per guidelines, First Time Home Buyers (“FTHB”) are allowed on an exception basis. A formal exception is located in the loan file.

The prepayment penalty is greater than 3 years. The FICO score of 732 is 10 points above the guideline requirement of 720.

XXXX

Waived

XXXX

4350121034

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121029

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121029

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121029

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121012

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Hazard Insurance Coverage is less than all Subject Lien(s)

Hazard Insurance Coverage Amount of XXXX is less than Total Amount of Subject Lien(s) of XXXX.00

appraisal cost to new is XXXX. Coverage exceeds this amount. - XXXX

Hazard Insurance Coverage Amount of XXXX000 is equal to or greater than Total Amount of Subject Lien(s) or Guaranteed Replacement Coverage is present - XXXX

XXXX

Resolved

XXXX

4350121012

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited CLTV Exceeds Guideline CLTV

Audited CLTV exceeds guideline CLTV. CLTV exception approval for First Time Home Buyer, page 261-264.

Prepayment Penalty ≥ 3 years
Borrowers FICO 728

XXXX

Waived

XXXX

4350121012

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121012

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121023

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Condo - Warrantability

Condominium project is not warrantable, or documentation not provided to determine warrantability In accordance with the guidelines, the borrower’s loan-to-value (LTV) ratio is 70%, the loan amount exceeds XXXX, and the condominium is non-warrantable; therefore, an exception is required. The lender has granted this exception based on the following compensating factors: verified monthly reserves exceeding the minimum requirement by four months, a prepayment penalty period greater than three years, and a FICO score above 740. Documentation supporting the exception is available on page 482.

In accordance with the guidelines, the borrower’s loan-to-value (LTV) ratio is 70%, the loan amount exceeds XXXX, and the condominium is non-warrantable; therefore, an exception is required. The lender has granted this exception based on the following compensating factors: verified monthly reserves exceeding the minimum requirement by four months, a prepayment penalty period greater than three years, and a FICO score above 740. Documentation supporting the exception is available on page 482.

XXXX

Waived

XXXX

4350121023

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Audited loan amount is greater than the guideline Maximum loan amount. Waiver in the file to use 70% LTV, Loan over XXXX, and non warrantable condo page 482.

XXXX

Waived

XXXX

4350121023

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121023

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited CLTV Exceeds Guideline CLTV

Audited CLTV exceeds guideline CLTV. Exception in file for 70% LTV. Waiver in the file to use 70% LTV, Loan over XXXX max, and non warrantable condo page 482.

XXXX

Waived

XXXX

4350121023

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited HCLTV Exceeds Guideline HCLTV

Audited HLTV exceeds guideline HCLTV. Exception in file for 70% HLTV

XXXX

Waived

XXXX

4350121023

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Exception in file for 70% LTV

XXXX

Waived

XXXX

4350121023

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Appraisal is Missing

The file is missing the appraisal. Missing 2nd appraisal or field review (required for loan amount >XXXX).

Document Uploaded. attached - XXXX

Document Uploaded. - XXXX

Field Review supporting value was provided. Condition resolved. - XXXX

Appraisal is Present or is Waived - XXXX

Condition upheld. The Appraisal in the file is the one we have. Per Guidelines: A field review or 2nd full appraisal is required loan amount > XXXX. - XXXX

XXXX

Resolved

XXXX

4350120989

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120989

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120989

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121057

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121057

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121057

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

ATR/QM: Exempt

XXXX

Credit

Final Settlement Statement Missing.

The final Settlement Statement document is missing. Closing Disclosure provided is missing loan term data points, and the XXXX Settlement Statements provided are either estimated or they are not for the subject property.

Document Uploaded. - XXXX

XXXX Settlement Statements provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121059

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121059

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Proof of hazard insurance and property taxes for XXXX, HOA statements for the primary residence at XXXX and XXXX, and evidence of a second mortgage with XXXX for the primary residence at XXXX reflecting a payment of XXXX are missing.

Document Uploaded. - XXXX

Docs provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121059

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121061

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

TRID: Missing Initial Closing Disclosure

The loan file does not contain the initial Closing Disclosure.

Initial CD issued XXXX per review of lender's compliance report is missing from the file; finding is valid - XXXX

Document Uploaded. - XXXX

Received ICD - XXXX

XXXX

Resolved

XXXX

4350121061

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121061

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121061

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Federal - Closing Disclosure and Consummation Date

The Initial Closing Disclosure was provided on (2026-04-21) via (USPSFirstClassMail). Under Regulation Z, a consumer must receive the Initial Closing Disclosure reflecting the actual terms of the transaction not later than three business days prior to the consummation date of (XXXX). Since the Initial Closing Disclosure was not provided in person, a consumer is considered to have received it on (XXXX-24), which is three business days after it was delivered or placed in the mail. Since the Initial Closing Disclosure was not provided to the consumer in person, it should have been provided to the consumer no later than (XXXX), for consummation to occur on (XXXX). (12 CFR 1026.19(f)(1)(ii)(A)); 1026.19(f)(1)(iii)) Received initial CD signed by non-borrowing spouse, however the borrower, XXXX XXXX' receipt of the ICD is not evidenced in the file. No evidence in the loan file the borrower XXXX XXXX received the initial CD at least 3 days prior to closing

Document Uploaded. Please see attached Audit trail from our LOS (XXXX) Borrower acknowledged on XXXX. - XXXX

Received e-sign tracking for delivery date - XXXX

Resolved - XXXX

XXXX

Resolved

XXXX

4350121061

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Federal - Right of Rescission (Loan Disbursement Violation) (TILA)

The loan disbursement date (XXXX) is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" (XXXX). Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) . FCD discloses disbursement date of XXXX, however docs were not executed until XXXX, so not eligible for disbursement until XXXX. Provide PCCD correcting disbursement date

Document Uploaded. - XXXX

Received PCCD correcting the disbursement date - XXXX

Resolved - XXXX

XXXX

Resolved

XXXX

4350120987

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120987

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Verification Documentation - Expired

The following loan documents were expired at the time of closing. The borrower’s driver’s license expired in XXXX.

Document Uploaded. - XXXX

Hi team, we are requesting the updated docs with the borrower. Can this condition be moved to trailing? Thank you! - XXXX

Updated ID provided, not expired. - XXXX
Condition upheld. The borrower’s driver’s license expired in XXXX.. Provide active driver’s license. - XXXX

XXXX

Resolved

XXXX

4350120987

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Liabilities - Not Verified

The application lists debts that were not verified on the credit report and not XXXXly verified. Provide a current XXXX statement to confirm a balance of XXXX and a payment of XXXX as reported on the final 1003.

Document Uploaded. - XXXX

Document Uploaded. - XXXX

Corrected 1003 was provided. Condition resolved. - XXXX

Condition upheld. LOE provided. Provide updated 1003 removing liability. - XXXX

XXXX

Resolved

XXXX

4350120987

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120987

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Property Title Issue

Property title issue. The borrower’s name is required to be listed on the preliminary title; however, the borrower’s name is missing.

Document Uploaded. - XXXX

Hi team,
This is a purchase loan, therefore the prelim title report shows the seller's name instead of the borrower's name. Can this condition be cleared? - XXXX

Edit from Title provided showing proposed insured was provided. Condition resolved. - XXXX

Condition upheld. Provide supplemental report showing borrower name, property address and insured amount. - XXXX

XXXX

Resolved

XXXX

4350120985

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Loan Purpose is Purchase but Purchase Contract Doc is Missing

Loan purpose is purchase and valuation type of purchase contract has not been selected. The purchase contract is not in the file.

Document Uploaded. - XXXX

Purchase Contract provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120985

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120985

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121013

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

Missing evidence of rate lock

Missing evidence of Rate Lock. The rate locked on the revised LE but we need confirmation of the rate lock date.

Document Uploaded. - XXXX

Received evidence of rate lock - XXXX

XXXX

Resolved

XXXX

4350121013

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Title Document Missing

Title document is missing. The title document is not in the file.

Document Uploaded. - XXXX

Correct Title provided. Condition resolved. - XXXX

Title document is fully present - XXXX

XXXX

Resolved

XXXX

4350121013

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121018

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Condo - Warrantability

Condominium project is not warrantable, or documentation not provided to determine warrantability

Per Underwriting Final Approval, loan was approved as an 80% LTV non-warrantable condominium project. Guidelines require maximum LTV for a non-warrantable condo of 75%. Approved Exception Form does not include language for LTV exception for a non-warrantable condominium property. - XXXX

Document Uploaded. On our exception form, we have exception for 80%LTV. Attached screenshot. - XXXX

Exception in file for the 80% LTV for a Non-Warrantable Condo - XXXX

Prepayment > 3 years
FICO 739

XXXX

Waived

XXXX

4350121018

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Max LTV is 75% for DSCR < 1 purchase transaction. Exception file

Prepayment penalty > 3 years
FICO 739

XXXX

Waived

XXXX

4350121018

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. First Time Home Buyers (“FTHB”) are allowed on an exception basis. Exception in file

Prepayment > 3 years
FICO 739

XXXX

Waived

XXXX

4350121018

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121014

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121014

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121014

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121015

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121015

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

HO6 Insurance Policy Effective Date is after the Note Date

HO-6 insurance policy effective date is after the Note date. The note date is XXXX, and the HO-6 policy effective date is XXXX.

Document Uploaded. both the current and renewal insurance were uploaded. see attached. - XXXX

Current HO-6 Policy was from XXXX - XXXX and Renewal is from XXXX - XXXX. Condition resolved. - XXXX

HO-6 Insurance Policy Effective Date of XXXX is prior to or equal to the Note Date of XXXX Or HO-6 Insurance Policy Effective Date Is Not Provided - XXXX

XXXX

Resolved

XXXX

4350121015

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121017

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121017

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121017

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121016

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121016

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121016

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121043

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121043

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121043

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121021

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121021

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121021

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121026

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121026

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121026

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121037

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121037

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121037

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Credit Report and 1003 mismatch

The credit report reflects 2 open mortgage loans not reflects on the 1003.

Document Uploaded. attached final 1003. it does reflect. - XXXX

Corrected 1003 was provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121035

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121035

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121035

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121027

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121027

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121027

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Approval/Underwriting Summary Deficient

Approval/Underwriting Summary is deficient. The P&I reflected on the 1008 is XXXX, but the P&I reflected on the Note is XXXX. Using the higher P&I, the DTI increases from XXXX. Please provide the final 1008/loan approval.

Document Uploaded. Our LOS system, XXXX, defaults the 1008 p&i to the primary and not the subject. Attached final approval for P&I. - XXXX

Loan Approved was located in the loan file and and was provided as well. Condition resolved. - XXXX

Approval/Underwriting Summary is fully present - XXXX

XXXX

Resolved

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Approved Exception was provided to allow 75% LTV. Guideline max for cash-out of a Primary with a 680 FICO is 70%. 5% LTV exception was granted.

Borrower has worked in the same job for more than three years. Housing payment history of 0x30x24 or better.

XXXX

Waived

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Fraud Report Shows Uncleared Alerts

Fraud Report shows uncleared alerts. There is a high alert showing on the fraud report for the borrower's social security number. Validation of the social security number for the borrower is missing from the loan file.

Document Uploaded. - XXXX

Fraud Report and SSA verification were provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower 1 IRS Transcripts Missing

Borrower 1 IRS Transcripts missing from the file. Per guidelines, for wage earners, 4506-C W2 transcripts or 4506-C transcripts are required. This documentation is missing from the loan file

This is a WVOE loan program. Does not apply. - XXXX

Condition set in error. Loan was underwritten to WVOE program. - XXXX

XXXX

Resolved

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower 1 Paystubs Missing

Borrower 1 paystubs missing from the file. Per guidelines, the most recent paystub (most recent thirty (30) day period) including year-to-date earnings (YTD must cover minimum of thirty (30) days) is required. This documentation is missing from the loan file

This is a WVOE loan program. Does not apply. - XXXX

Condition set in error. Loan was underwritten to WVOE program. - XXXX

XXXX

Resolved

XXXX

4350121031

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower 1 W2/1099 Missing

Borrower 1 W2/1099 missing. Per guidelines, One/Two years IRS 1040s or W2's and a Written Verification of Employment is required. The Written Verification of Employment is in file, but the 2 years of W2's are missing.

This is a WVOE loan program. Does not apply. - XXXX

Condition set in error. Loan was underwritten to WVOE program. - XXXX

XXXX

Resolved

XXXX

4350121019

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121019

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121019

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121033

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Cash Deposit

Source of EMD XXXX have not been verified Loan purpose is purchase, confirm if cash deposit has cleared account. EMD Loan purpose is purchase, confirm if cash deposit has cleared account.

Document Uploaded. our guidelines accepts escrow letter confirming receipt of funds as proof. See attached. - XXXX

Document Uploaded. - XXXX

Per guidelines, EMD can be verified with an Escrow Letter alone. Condition resolved. - XXXX

Condition upheld. Provide evidence of where the XXXX EMD deposit came from. - XXXX

XXXX

Resolved

XXXX

4350121033

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121033

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Assets - Insufficient Cash to Close or Reserves

Liquid Funds Post-Close of '$-XXXX', are less than XXXX. Borrower total verified assets are insufficient for cash to close/reserves XXXX

Funds will be enough with EMD included. - XXXX

Per guidelines, EMD can be verified with an Escrow Letter alone. Condition resolved. - XXXX

On Hold for EMD Condition. - XXXX

XXXX

Resolved

XXXX

4350121033

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121020

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121020

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121020

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121028

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121028

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121028

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121050

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Assets - Insufficient Cash to Close or Reserves

Liquid Funds Post-Close of '$-XXXX', are less than XXXX. Missing additional assets for reserves of XXXX

Can you break down your calculations? There is emd of XXXX and XXXX. We have enough funds. - XXXX

EMD was verified, Borrower has sufficient assets and reserves. Condition resolved. - XXXX

Liquid Funds Post-Close are greater than or equal to XXXX. - XXXX

Liquid Funds Post-Close are greater than or equal to XXXX. Borrower(s) total verified assets are insufficient for cash to close or reserves. - XXXX

XXXX

Resolved

XXXX

4350121050

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121050

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121036

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121036

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121036

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Eligibility - Investor Experience

The borrower(s) investor experience does not meet guideline requirements. First-time home buyers (FTHB) are allowed on an exception basis. The exception in the file does not reflect the two required compensating factors.

Document Uploaded. Attached exception. - XXXX

Document Uploaded. - XXXX

Condition set in error.  First Time Investors are allowed. - XXXX

Condition upheld.  Borrower has 5.36 months reserves, 3 months are required per guidelines do Comp Factor used is not valid.  Subject loan is DSCR and Borrower lives rent free.  Housing payment history comp factor is invalid. - XXXX

Condition upheld. Comp factors on Exception are not accurate.  Borrower only has 5.36 months reserves and 3 are required.  They is no housing history in the file. Borrower has no mortgages on Credit Report. - XXXX

XXXX

Resolved

XXXX

4350121036

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. LTV for first-time home buyers is reduced by 5%, with a maximum LTV of 70%. The loan LTV is 75%. The exception in the file does not reflect the required two compensating factors.

Document Uploaded. - XXXX

Document Uploaded. - XXXX

Approved exception was provided for FTHB. - XXXX

Condition upheld. Comp factors on Exception are not accurate. Borrower only has 5.36 months reserves and 3 are required. They is no housing history in the file. Borrower has no mortgages on Credit Report. - XXXX

DSCR > 1, FICO is 728, 5 year PPP.

XXXX

Waived

XXXX

4350120988

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120988

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120988

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120986

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Approval/Underwriting Summary Not Provided

The loan did not contain the Approval/Underwriting Summary. Provide loan approval or final 1008 Underwriting Summary.

Document Uploaded. - XXXX

Approval/Underwriting Summary provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120986

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120986

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121049

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. LTV is 5% more than maximum guidelines, approved exception in file.

Compensating factors include PPP > 3 years (5 yrs per ) and Qualifying DSCR is > 1.1 and 0.1

XXXX

Waived

XXXX

4350121049

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121049

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121030

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Federal - Finance Charge Disclosure Tolerance (Closed End)

The disclosed finance charge (XXXX) is (XXXX) below the actual finance charge(XXXX). The Truth in Lending Act considers the disclosed finance charge inaccurate if it is more than XXXX below the actual finance charge. (12 CFR 1026.18(d)(1); OSC 17(c)(2)(ii)-1) per the final closing disclosure, the finance charge is XXXX

Real Estate Admin was tested incorrectly. Fee has been updated and passes the TILA test per Mavent. - XXXX

Resolved - XXXX

XXXX

Void

XXXX

4350121030

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Borrower 1 Gap Credit Report is Missing Missing Soft Pull Credit Refresh required before closing

Refresh not needed as credit report pull was done on XXXX within 30 days of closing date. - XXXX

Condition set in error. Credit Report 17 days old. - XXXX

XXXX

Resolved

XXXX

4350121030

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Appraisal is Missing

The file is missing the appraisal.

Document Uploaded. - XXXX

Appraisal provided. Condition resolved. - XXXX

Appraisal is Present or is Waived - XXXX

XXXX

Resolved

XXXX

4350121025

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Max 70% LTV for cash out refinance per guidelines.80% LTV Exception in file.

Compensating factors include Qualifying DSCR> 1.1 and 0.1 > minimum and FICO > 740 and 20 Points higher than minimum required.

XXXX

Waived

XXXX

4350121025

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Appraisal transfer requires exception per guidelines. Exception in file.

Compensating factors include Qualifying DSCR> 1.1 and 0.1 > minimum and FICO > 740 and 20 Points higher than minimum required.

XXXX

Waived

XXXX

4350121025

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121025

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121032

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121032

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121032

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121032

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Missing VOM or VOR

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Missing 12 months rental/mortgage history - 6 months have been provided.

Borrower did not have the property for 12 months. Payment started XXXX. There is 6 months seasoning on this. This should satisfy the condition. - XXXX
Document Uploaded. - XXXX

Per explanation: Borrower did not have the property for 12 months. Payment started XXXX. There is 6 months seasoning on this. Condition resolved. - XXXX
Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing - XXXX
Condition upheld. Note date is XXXX and disbursed on XXXX Provide evidence XXXX payment was made on time. - XXXX

XXXX

Resolved

XXXX

4350121047

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited FICO is less than Guideline FICO

Audited FICO is less than guideline FICO. LTV less than 70%, More than 4 reserves on file, Prepayment penalty less than equal to 3 years

XXXX

Waived

XXXX

4350121047

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121047

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121047

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121044

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121044

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121044

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121052

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Program maximum LTV for cash-out transactions with a DSCR of 1 or greater is 70%. The subject LTV is 75%. A formal exception is in file.

The borrowers cash reserves are greater than 3 months. The borrowers FICO is 20 points or more than minimum requirement.

XXXX

Waived

XXXX

4350121052

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Missing VOM or VOR

The loan file does not contain the required VOR.

The borrowers cash reserves are greater than 3 months. The borrowers FICO is 20 points or more than minimum requirement.

XXXX

Waived

XXXX

4350121052

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121052

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Required title seasoning is less than 6 months due to a transfer from one LLC to another. A formal exception is in file.

The borrowers cash reserves are greater than 3 months. The borrowers FICO is 20 points or more than minimum requirement.

XXXX

Waived

XXXX

4350121052

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Appraisal Transfer Letter - Missing

The loan file does not contain the Appraisal Transfer Letter as required. Subject's appraisal was transferred from another lender on a cash out transaction. Guidelines do not allow a transferred appraisal on a cash out loan. A formal exception in file.

The borrowers cash reserves are greater than 3 months. The borrowers FICO is 20 points or more than minimum requirement.

XXXX

Waived

XXXX

4350121052

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121039

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

TRID: Missing Final Closing Disclosure

The loan file does not contain the Final Closing Disclosure. Upload all pages of Final CD

File is a DSCR loan. Our business purpose settlement statement was provided for final figures. - XXXX

Executed settlement statement in the file. - XXXX

XXXX

Resolved

XXXX

4350121039

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121039

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121053

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Exception is present for first time homebuyer with LTV of 75%.

Fico of 749 is > 720 and 20 points higher than minimum. DSCR is > 1.1 at 1.15

XXXX

Waived

XXXX

4350121053

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121053

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121054

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121054

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121054

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121045

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121045

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121045

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Maximum LTV allowed per guidelines is 70% for a cash out refinance. Loan qualified at 75%. Per Loan Approval, an exception was granted. Missing the formal exception form.

Document Uploaded. attached exception form. - XXXX

Approved exception provided for 75% LTV. - XXXX

Monthly reserves verified and 4 months ≥ minimum 11 months, FICO ≥ 740 and 20 points higher than minimum 775.

XXXX

Waived

XXXX

4350121045

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Appraisal - Other

There are additional appraisal findings. Appraisal Transfer is not allowed per Guidelines on Cash-Out loans.

Approved Exception provided for Appraisal Transfer on a cash-out loan. - XXXX

Monthly reserves verified and 4 months ≥ minimum 11 months, FICO ≥ 740 and 20 points higher than minimum 775.

XXXX

Waived

XXXX

4350121045

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Occupancy

The subject loan does not meet program parameters for occupancy. Subject property is vacant.

Approved exception provided for subject being vacant. - XXXX

Monthly reserves verified and 4 months ≥ minimum 11 months, FICO ≥ 740 and 20 points higher than minimum 775.

XXXX

Waived

XXXX

4350121040

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121040

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited FICO is less than Guideline FICO

Audited FICO is less than guideline FICO. Guidelines require a minimum FICO score of 720 when the DSCR score is between 0.75 and 1.0, when the Guarantor FICO score was 685 - A formal exception is in file.

Compensating factors used were Reserves over 3 months and Prepayment penalty term is over 3 years long.

XXXX

Waived

XXXX

4350121040

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. Missing subject property mortgage history to meet guideline requirements. Purchase money Note provided indicated interest-only payments were due for nine months, starting XXXX.

Borrower has met the 6 months seasoning (we don’t need full 12 months mortgage history) and this is a hard money lender therefore they do not provide mortgage statements – payoff also does not reflect any additional late payments included in the full payoff amount. - XXXX

Subject Mortgage being paid off is dated XXXX. It is I/O loan with 1st I/O payment due XXXX. Only 6 I/O payments were made and P/O in file shows no lates. Condition resolved. - XXXX
Housing history meets guideline requirements. - XXXX

XXXX

Resolved

XXXX

4350121040

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121048

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121048

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121048

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Cash out does not meet guideline requirements. Subject is a cash out refinance. Borrower obtained property on XXXX. Guidelines require 6 months seasoning. No exception in file. If this is a delayed financing loan, missing sources of funds used for the purchase transaction.

Document Uploaded. See attached delayed financing docs. - XXXX

Subject Transaction is Delayed Financing. All Delayed Financing Docs were provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121051

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Audited LTV Exceeds Guideline LTV

Audited LTV exceeds guideline LTV. Guideline max is 70% for LTV/CLTV/HCLTV - A formal exception is in file.

Compensating factors used were FICO score higher than 720 and Qualifying DSCR score is over 1.0.

XXXX

Waived

XXXX

4350121051

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121051

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121051

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Missing Lease Agreement

Missing lease agreement - A formal exception is in file.

Compensating factors used were FICO score higher than 720 and Qualifying DSCR score is over 1.0.

XXXX

Waived

XXXX

4350121051

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Cash Out Does Not Meet Guideline Requirements

Cash out does not meet guideline requirements. Guidelines state 6 months title seasoning is required for a transaction to be eligible for cash out. Per Warranty Deed, property was acquired XXXX, and subject loan close date was XXXX which is 136 days and less than 6 months required per guidelines.

This is a delayed financing loan. - XXXX

Subject Transaction is Delayed Financing. Evidence of renovations was provided. Condition resolved. - XXXX

Cash Out Meets Guideline Requirements - XXXX

XXXX

Resolved

XXXX

4350121051

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Guidelines require a property that was purchase 6 months or less prior to application date, the LTV is to be based on the lesser of the sales price plus any documented improvements or the current appraised value. Per Loan Approval, the LTV was based on the appraised value of XXXX when the appraisal report showed the subject was purchased XXXX for XXXX. No documented dollar amount for property improvements was provided to justify the use of the XXXX property value in establishing the loan LTV/CLTV/HCLTV.

Document Uploaded. attached. - XXXX

Transaction is delayed Financing. Approved exception in file waiving the Lease Agreement and using 75%LTV. - XXXX

Compensating factors used were FICO score higher than 720 and Qualifying DSCR score is over 1.0.

XXXX

Waived

XXXX

4350120991

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120991

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120991

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121064

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121064

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121064

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Missing evidence of rate lock

Missing evidence of Rate Lock. Proof of Rate Lock is missing.

Document Uploaded. - XXXX

Evidence of Rate Lock Provided - XXXX

Received rate lock - XXXX

XXXX

Resolved

XXXX

4350121064

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

AbilityToRepay: QMPointsAndFees

The loan fees (XXXX) exceed the (QM) (Note Amount >=XXXX) fee limit, which is 3% of the Total Loan Amount (XXXX), the difference is (XXXX). (12 CFR 1026.43(e)(3). N/A; Non-QM

The loan fees (XXXX) exceed the (QM) (Note Amount >=XXXX) fee limit, which is 3% of the Total Loan Amount (XXXX), the difference is (XXXX). (12 CFR 1026.43(e)(3). - XXXX

XXXX

Void

XXXX

4350121064

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Charges That Cannot Increase Test XXXX

The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Credit Report Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). The credit report fee increased from XXXX on the Loan Estimates dated XXXX and XXXX to XXXX on the Loan Estimate dated Closing Disclosure dated XXXX and then XXXX on the final Closing Disclosure dated XXXX without a valid change in circumstance.

Document Uploaded. - XXXX

Received CIC for the increased fee - XXXX

- XXXX

XXXX

Resolved

XXXX

4350121064

XXXX

Investment

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

Insufficient Change of Circumstance XXXX

The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Credit Report Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)).

- XXXX

XXXX

Void

XXXX

4350121086

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121086

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121086

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121088

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Cash Out Does Not Meet Guideline Requirements

Cash out does not meet guideline requirements. Guidelines require borrower ownership seasoning of six months for a transaction to be eligible for cash out. Per 1008 notes, HELOC draws had been made within the last 6 months from the current lien holder. No exception was provided to address the matter.

Document Uploaded. - XXXX

LOE provided. Per title, the borrower (company) acquired the property on XXXX. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121088

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121088

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121087

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121087

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Hazard Insurance Coverage is less than all Subject Lien(s)

Hazard Insurance Coverage Amount of XXXX is less than Total Amount of Subject Lien(s) of XXXX.00 The hazard coverage amount is XXXX and does not include replacement cost coverage. The loan amount is XXXX. The replacement cost estimate (RCE) is not in the file.

Document Uploaded. Even though this is a PUD, there is a Master Insurance policy (see property coverage) for the project. This should serve as sufficient coverage. Please clear. Thank you. - XXXX

PUD Master policy provided. Condition resolved. - XXXX

Hazard Insurance Coverage Amount of XXXX000 is equal to or greater than Total Amount of Subject Lien(s) or Guaranteed Replacement Coverage is present - XXXX

XXXX

Resolved

XXXX

4350121087

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121090

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Income and Employment Do Not Meet Guidelines

Income and employment do not meet guidelines. The borrower has six NSF occurrences, which exceeds the guideline maximum of five. A formal exception is in file.

The qualifying FICO score is 703, which exceeds the guideline minimum requirement of 660.
The borrower has 30 months of reserves available, exceeding the guideline requirement of 3 months.
The borrower has been self-employed for 15 years, demonstrating a stable employment history.
The borrower has owned their primary residence for 9 years.
The borrower has adequate residual income of XXXX.

XXXX

Waived

XXXX

4350121090

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121090

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121089

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Please document that the mortgage for the primary residence, with XXXX Bank, is fully escrowed to support the payment used to qualify.

Document Uploaded. - XXXX

UW cert provided. DSCR loan the ratio is calculated off of the subject property’s rental and PITIA. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121089

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Purchase Contract - Concessions

The contract contained unallowable concessions or significant personal property. The contract states that any furniture in the home stays. Please document the value of the furniture which conveyed with the property. To be deducted from sales price.

Document Uploaded. Please find the attached certification regarding the seller concession. Thank you. - XXXX

Docs provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121089

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121089

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121085

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121085

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121085

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121080

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121080

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121080

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines.

Property is a short term rental located in XXXX, borrower has XXXX is the agent managing the property" directly from the exception and enter the comp factors. Waived and grade '2' - XXXX

FICO higher than 740, AND at least 20 points higher than guideline minimum.

Qualifying DSCR higher than 1.1x, AND at least 0.1x higher than guideline minimum.

Borrower has real estate investment experience as seasoned investor with more than 2 prior investments
displaying at least 0x30x12 pay history.

XXXX

Waived

XXXX

4350121080

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121077

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121077

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121077

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121079

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121079

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121079

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

Missing Doc - ROR/Missing

Right of Rescission is missing. The borrower XXXX signed on the line indicating he wished to rescind the transaction. Co-borrower XXXXsigned on the line designated for XXXX to sign receipt of notice. Right to rescind for borrower XXXX is missing from the file.

Document Uploaded. - XXXX

Document Uploaded. - XXXX

Right of Rescission is provided. - XXXX

Received signed and dated rescission notices which have since expired. Finding resolved - XXXX

Received newly re-opened resicssion for both borrowers which will expire at midnight on XXXX. Resubmit after that date to clear exeption - XXXX

XXXX

Resolved

XXXX

4350121079

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

Missing Doc -Initial TIL - Missing/Rescindable

Rescindable Transaction. The initial Truth in Lending Disclosure is missing from the file. The borrower XXXX XXXX XXXX signed on the line indicating he wished to rescind the transaction. Co-borrower XXXX XXXX signed on the line designated for XXXX XXXX to sign receipt of notice. Right to rescind for borrower XXXX XXXX is missing from the file.

Document Uploaded. - XXXX

Document Uploaded. - XXXX

Received newly signed and dated RTC for both borrowers which has since expired - XXXX

Received newly re-opened resicssion for both borrowers which will expire at midnight on XXXX. Resubmit after that date to clear exeption - XXXX

XXXX

Resolved

XXXX

4350121076

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Title Coverage is Less than Subject Lien(s) Total

Title coverage is less than total amount of subject lien(s).

Document Uploaded. - XXXX

Updated title provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121076

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121076

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121076

XXXX

Primary Residence

Refinance

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Asset Qualification Does Not Meet Guideline Requirements

Asset Qualification does not meet guideline requirements. Per the guidelines two months of recent business bank statements must be provided to support the P&L gross income. The average bank statement deposits must be no lower than 85% of the monthly average of gross income reflected by the CPA P&L.

XXXX

Void

XXXX

4350121078

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121078

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121078

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350120973

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Property Issue - Neighborhood Location

The subject appraisal verified a neighborhood location not allowed per guidelines. According to guidelines, rural properties are approved on a case-by-case basis. The lock confirmation indicates "Rural: No"; however, the appraisal identifies the property as being located in a rural area. Please confirm whether the property's location has been approved.

Please note: Property is zones AG. Its not rural. Rural is the neighborhood. - XXXX

appraisals have been reviewed and approved by both lender and investor and approved as is - XXXX

Document Uploaded. Waived by seller with compensating factors. - XXXX

Condition upheld for Investor Review. Guidelines state Rural properties are expectable on a case by case basis, and Agricultural properties are ineligible. Loan will need an Approved Exception to be provided. - XXXX

1. 12+ months reserves
2. 0X30 for 12+ months housing history

XXXX

Waived

XXXX

4350120973

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350120973

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120972

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Property Issue - Land size outside of guidelines

The subject's site size was atypical for the area and/or outside of guidelines. Guidelines state for the DSCR program that the maximum acreage for a rural property is 5 acres. Per appraisal report, the subject is rural on an XXXX acre site.

Please note: Property is zones AG. Its not rural. Rural is the neighborhood. - XXXX

appraisals have been reviewed and approved by both lender and investor and approved as is - XXXX

1. 12+ months reserves
2. 0X30X12+ housing history

XXXX

Waived

XXXX

4350120972

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120972

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120979

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

Missing Required rider to note

The Interest Only Rider is missing from the file. The document provided is the Interest Only Addendum to the Adjustable Rate Rider, which is not the required Interest Only Rider.

Document Uploaded. Please note the interest-only provisions are documented within the executed Interest-Only Addendum to Adjustable Rate Rider contained in the closing package. No separate standalone Interest Only Rider was generated for this transaction. Additionally, supplemental closing instructions have been provided for review outlining the documents populated for this program and state. Thank you - XXXX

Received requested documentation - XXXX

XXXX

Resolved

XXXX

4350120979

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Borrower 1 Gap Credit Report is Missing The file does not contain a gap credit report from at least one of the three major national credit repositories (XXXX), dated within 10 days of closing, as required.

This is a DSCR loan and excluded from the GAP Credit Report Requirement, thank you. - XXXX

Borrower 1 Gap Credit Report is not missing. - XXXX

DSCR loan. GAP CR not required. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120979

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120974

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120974

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120974

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Per appraisal report and title commitment, the subject property is located on leasehold land. Guidelines allow leasehold land on a case-by-case basis, if the remaining term of the lease extends beyond the term of the loan. Leasehold approval with lease term confirmation that it exceeds the subject maturity date was not provided.

Document Uploaded. Please see the land lease attached. The lease expires XXXX, which is after our loan term of XXXX - XXXX

Received Master Condominium Sublease, and page 12 indicates the sublease expires XXXX, "the expiration date of the Master Lease." The subject loan maturity date is XXXX and is prior to the expiration of the Master and Sub-lease. - XXXX

XXXX

Resolved

XXXX

4350120974

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Missing Income - Bank Statements

Guidelines require the most recent 6 month asset documentation to support asset depletion funds. The only documentation provided to support asset depletion funds was XXXX one month statement for XXXX account #XXXX No statements were provided for XXXX #XXXX, and missing 6 months asset documentation for both of these XXXX' accounts. Documentation provided is to support XXXX monthly, averaged over a minimum 60-month period per guideline requirements.

Document Uploaded.  - XXXX
Document Uploaded. Adding XXXX for each account and again, each statement has the history of the account under "Account Value", which was used in lieu of additional statements since they show the history from 1 month ago, 1 yr. , etc.
Thank you  - XXXX
Each statement has the history of the account under "Account Value", which was used in lieu of additional statements since they show the history from 1 month ago, 1 yr, etc. - XXXX
Document Uploaded. Please find attached XXXX statements. thank you.  - XXXX

Exception provided. Exception to use less than 6 months statements from XXXX XXXX which reflect sufficient assets for asset depletion and reflect XXXXlance history in lieu of guideline. Each statement has account history which is used in lieu of additional statements. LTV 21.053%, DTI 45.92% with monthly discretionary income exceeding XXXX. Approved. - XXXX
Condition upheld. Per XXXX Guidelines dated XXXX: Borrower is qualified utilizing the most recent 6 months asset documentation verified: cash in bank, stocks, bonds, IRAs, 401K, mutual funds, and/or retirement accounts. Provide a complete 6 months asset documentation or an approved exception. - XXXX
XXXX which would show sufficient assets currently available to support asset depletion income used in qualifying. Still missing a full 6 months history for all three accounts per asset depletion guideline requirements. - XXXX

Low LTV, Low DTI, 12 mos reserves, high discretionary income, housing history 0x30 for 12+ months.

XXXX

Waived

XXXX

4350120977

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

Condo Rider is Missing

Condo Rider is missing.

Document Uploaded. Please note this transaction is secured by a Tenancy in Common (TIC) interest and not a condominium unit. As such, a standard Condo Rider was not generated for this loan. The applicable Tenancy in Common Agreement was provided in lieu of a Condo Rider and is attached for reference.
Thank you. - XXXX

This is NA since it is TIC - XXXX

Received Tenacy in Common agreement. Property is not a condo. No rider required - XXXX

A condo rider is still required for a tenacy in common condo mortgage. Provide re-recorded mortgage with all riders. - XXXX

XXXX

Resolved

XXXX

4350120977

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Condo - Warrantability

Condominium project is not warrantable, or documentation not provided to determine warrantability

Document Uploaded. Subject property is held as a TIC (Tenancy-in-Common).
Attached please find the TIC Agreement and Attorney Approval.
Thank you. - XXXX

Tenancy-in-Common docs provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120977

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Missing Homeowner's Association Questionnaire

This is NA since it is TIC - XXXX

Tenancy-in-Common docs provided on previous condition. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120977

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

Missing Service Provider List

The loan file does not contain the Service Provider List. Service Provider List was not completed.

Please confirm if the lender does not have any service providers to offer to borrowers as the disclosure is blank - XXXX

We confirm the lender does not have any service providers to offer to borrowers - XXXX

Confirmed no SPL - XXXX

XXXX

Resolved

XXXX

4350120977

XXXX

Second Home

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

Lender Credits That Cannot Decrease Test (XXXX)

The baseline amount of non-specific (lump sum) lender credits and specific lender credits disclosed is (XXXX). The Last CD shows a total lender credit amount of (XXXX). The following fees "lender credits" have decreased below their baseline amounts (General Lender Credit). Non-specific lender credits are generalized payments that do not pay for a particular fee. Specific lender credits are specific payments to pay for a specific fee. The total amount of non-specific and specific lender credits cannot decrease unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3)(i) and comments 19(e)(3)(i)-5 and -6; 12 CFR 1026.19(f)(2)(v); 12 CFR 1026.37(g)(6); 12 CFR 1026.38(h)).

Document Uploaded. - XXXX

Received CIC for the decrease in lender credit - XXXX

Resolved - XXXX

XXXX

Resolved

XXXX

4350120976

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120976

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120976

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Gap credit is not required for DSCR loans - XXXX

Gap credit is not required for DSCR loans. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120975

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120975

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120975

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Borrower 1 Deed of Trust Signature does not match Note

Borrower 1 Signature does not match Note Signature. Borrower signed as an individual on the note however signed as a Business Entity on the DOT.

Document Uploaded. Please see the DOT accommodation rider. The format/verbiage in the rider allow for the borrower to sign the note as an individual and the DOT as an entity. Sample language is attached for your comparison. - XXXX

Loan file contained and Accommodation Rider to the Deed of Trust. Condition resolved. - XXXX

Borrower 1 Signature matches Note - XXXX

The business entity names match. - XXXX

Borrower 1 Signature matches Note - XXXX

The business entity names match. - XXXX

XXXX

Resolved

XXXX

4350120981

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120981

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120981

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120980

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Asset 1 Less Than 2 Months Verified

Need recent bank statement for XXXX bank, statement on file is from XXXX. Guidelines require the most recent bank statement, and the subject loan closed XXXX. Asset has less than 2 months verified in file. Asset has less than 2 months verified in file.

Document Uploaded. Please see attached - XXXX
In Addition, Lender guidelines require 1 month bank statement for bank statement reserves
- XXXX
The XXXX is considered acceptable since it is dated within 120 days of the transaction closing date. - XXXX

Exception approval provided for the use of XXXX bank statement only. - XXXX

29 months reserves housing history 0x30x24, FICO 770.

XXXX

Waived

XXXX

4350120980

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Third party valuation product to support appraisal value is missing

The CU score is unacceptable or not provided. Use appraisal and collateral desktop review to determine value of subject property for loan amount of XXXX - A formal exception is in file.

Note: Per 1008, LTV/CLTV/HCLTV is based on the sales price of XXXX: XXXX / XXXX = 80%. - XXXX

Compensating factors used were Back end debt ratio is less than 30%, Credit score is 770, Housing history has 0x30 lates, and 6+ months reserves.

XXXX

Waived

XXXX

4350120980

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Income 3 Months Income Verified is Missing

Income 3 months income verified is missing. Need documentation that supports the income for XXXX monthly per loan application. Loan was approved under the bank statement program.

The business was not used for vesting, and therefore we were able to use the CPA letter to verify business existence, how long the borrower has owned the business, and ownership %. No other documentation is required - XXXX
Document Uploaded. - XXXX
Document Uploaded. Corrected income attached - XXXX
Income from XXXXs was not used to qualify, only income from XXXX DBA XXXX - XXXX

Income 3 Months Income Verified is Present Or Not Applicable - XXXX

CPA letter to verify business existence provided. Condition resolved. - XXXX

Income 3 Months Income Verified is Present Or Not Applicable - XXXX

Condition upheld. Provide all LLC documents for XXXXs LLC. (License and Operating agreement) - XXXX

Condition upheld. Income from XXXXs LLC is now being used per the provide corrected income document. Provide all LLC required documents for XXXXs LLC. - XXXX

Condition upheld. 1003 in file list XXXXs LLC for XXXX monthly for income also. Need documentation that supports the income for XXXXs LLC of XXXX monthly. - XXXX

XXXX

Resolved

XXXX

4350120980

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350120980

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Asset 3 Does Not Meet Guideline Requirements

Asset does not meet G/L Requirements. Missing proof of receipt of XXXX XXXX XXXX property refinance proceeds of XXXX by borrower or subject property escrow per XXXX XXXX settlement statement.

Document Uploaded. The closing funds of XXXX reflect as a transfer from the same transaction referenced on the refi closing statement. - XXXX

Asset Record 3 Meets G/L Requirements Or Not Applicable - XXXX

Disbursement docs provided. Condition resolved - XXXX

XXXX

Resolved

XXXX

4350120980

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Audited DTI Exceeds Guideline DTI

Audited DTI exceeds guideline DTI. Guidelines require a maximum 50% debt ratio. Based on the review, the debt ratio is 77.10%, due to the following: 1) Originator used interest-only payment of XXXX for qualifying when guidelines state to use the Note rate amortized over the remaining loan term after interest-only term has ended which would be XXXX. 2) Originator used 100% of eligible deposits from business XXXX dba XXXX LLC to calculate qualifying income of XXXX per loan application, when letter from LLC Attorney/CFO confirms borrower is 40% owner of XXXX dba XXXX LLC. Based on this information, qualifying income for this source should have been XXXX monthly.3) Missing 12 months bank statements for borrower business XXXXs LLC to support XXXX monthly earnings used in qualifying per loan application. Income could not be confirmed received/calculated for this income source. As a result, Total Debt is XXXX (XXXX subject PITIA + XXXX net rental loss + XXXX other obligations) and Total Income is XXXX (XXXX dba XXXX LLC) and debt ratio of 77.10%.

Document Uploaded. please see attached - XXXX

Document Uploaded. Please see corrected income attached - XXXX

Exception provided condition waived - XXXX

Approved exception to exclude XXXX payment was provided. However, XXXX Payment is included in the 44.88% DTI. Guideline max is 50%. Approved exception was not used as not needed. Condition resolved. - XXXX

Audited DTI of 44.88% is less than or equal to Guideline DTI of 50% - XXXX

Condition upheld. Provide corrected 1003 and 1008 to show lenders corrected income and corrected ratios of 14.07% / 41.27% - XXXX

Audited DTI of 44.88% is less than or equal to Guideline DTI of 50% - XXXX

FICO 770, 6 months reserves, years on job, housing 0x30

XXXX

Waived

XXXX

4350120980

XXXX

Primary Residence

Purchase

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Liabilities - Not Verified

The application lists debts that were not verified on the credit report and not XXXXly verified. XXXX XXXX XXXX property recent refinance per XXXX settlement statement, to document PITIA accurately, considering the new loan transaction.

Document Uploaded. Please see attached. - XXXX

Settlement statement for new HELOC on REO property was provided along with note and DOT. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX Not Allowed- Title Exam Copy Cost Fee (Fee ID: 998)

Section 3:1-16.2 of the XXXX Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Title Exam Copy Cost Fee (Fee ID: 998) to be charged to the Borrower in XXXX. Fees are allowable for this transaction

This fee is permitted XXXX since it is a legitimate third-party charges actually incurred for the transaction. - XXXX

set in error - XXXX

XXXX

Void

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX Not Allowed- Verification Fee (Fee ID: 553)

Section 3:1-16.2 of the XXXX Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Verification Fee (Fee ID: 553) to be charged to the Borrower in XXXX. Fees are allowable for this transaction

This fee is permitted XXXX since it is a legitimate third-party charges actually incurred for the transaction. - XXXX

set in error - XXXX

XXXX

Void

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX Not Allowed- Title Cpl Fee (Fee ID: 998)

Section 3:1-16.2 of the XXXX Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Title Cpl Fee (Fee ID: 998) to be charged to the Borrower XXXX. Fees are allowable for this transaction

This fee is permitted XXXX since it is a legitimate third-party charges actually incurred for the transaction. - XXXX

set in error - XXXX

XXXX

Void

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX Not Allowed- Title Update Fee (Fee ID: 998)

Section 3:1-16.2 of the XXXX Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Title Update Fee (Fee ID: 998) to be charged to the Borrower XXXX. Fees are allowable for this transaction

This fee is permitted XXXX since it is a legitimate third-party charges actually incurred for the transaction. - XXXX

set in error - XXXX

XXXX

Void

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX Not Allowed- Appraisal Review Fee (Fee ID: 96)

Section 3:1-16.2 of the XXXX Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Appraisal Review Fee (Fee ID: 96) to be charged to the Borrower XXXX. Fees are allowable for this transaction

This fee is permitted XXXX since it is a legitimate third-party charges actually incurred for the transaction. - XXXX

set in error - XXXX

XXXX

Void

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX Not Allowed- Title Notice of Settlement Fee (Fee ID: 998)

Section 3:1-16.2 of the XXXX Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Title Notice of Settlement Fee (Fee ID: 998) to be charged to the Borrower XXXX. Fees are allowable for this transaction

This fee is permitted XXXX since it is a legitimate third-party charges actually incurred for the transaction. - XXXX

set in error - XXXX

XXXX

Void

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

XXXX Not Allowed- Title Escrow Processing Fee (Fee ID: 998)

Section 3:1-16.2 of the XXXX Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Title Escrow Processing Fee (Fee ID: 998) to be charged to the Borrower XXXX. Fees are allowable for this transaction

This fee is permitted XXXX since it is a legitimate third-party charges actually incurred for the transaction. - XXXX

set in error - XXXX

XXXX

Void

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

HighCost: Fees

The loan fees (XXXX) exceed the (XXXX) High Cost fee limit, which is (XXXX), the difference is (XXXX).

No Undiscounted Rate found in the loan docs to offset HC Finding. - XXXX

Document Uploaded.  - XXXX

Document Uploaded. Please see HOEPA test with details - XXXX

Document Uploaded.  - XXXX

Document Uploaded.  - XXXX

Received rate lock sheet to confirm pricing used for bona fide discount points.  - XXXX
- XXXX
Received XXXX HC analysis whic shows XXXX in bona fide discount points were excluded from testing, however the loan file contains no evidence of the undiscounted?PAR rate from which the interest rate was reduced.  Please provide the undiscounted interest rate.  - XXXX
Received Section 32(HOEPA) high cost anaysis, but the XXXX high cost analysis was not provided.  XXXX. Admin. Code § 3:1-16.2  limits which fees can be excluded from XXXX high cost testing.  Please provide analysis for XXXX fees included in HC testing. - XXXX

XXXX

Resolved

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Housing History Does Not Meet Guideline Requirements

Housing history does not meet guideline requirements. The guidelines require 12 months housing history. The loan file contains 1 month housing history verification.

Document Uploaded. 12 months housing history was verified. Please see attached - XXXX

CR provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120983

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Credit Profile - Credit History Insufficient

The documented credit history does not meet guidelines. Guidelines require two tradelines with at least 24 months reviewed and activity reported within the past 12 months. The credit report in the file reflects a maximum review period of 8 months.

Please see page 10 of the guidelines, which reads, XXXX reflecting credit scores from all 3 bureaus are not subject to Tradeline requirements listed per lenders guidelines. The area of the guideline you are refering to is "below" and does not apply. - XXXX
XXXX’s reflecting credit scores from all 3 bureaus are not subject to Tradeline requirements listed per lenders guidelines

- XXXX

XXXX’s reflecting credit scores from all 3 bureaus are not subject to Tradeline requirements listed per lenders guidelines. Condition resolved. - XXXX

Condition upheld. he documented credit history does not meet guidelines. Guidelines require two tradelines with at least 24 months reviewed and activity reported within the past 12 months. UW used Guideline dated XXXX. - XXXX

XXXX

Resolved

XXXX

4350120984

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120984

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120984

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120978

XXXX

Second Home

Purchase

Non-QM: Lender documented all ATR UW factors

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120978

XXXX

Second Home

Purchase

Non-QM: Lender documented all ATR UW factors

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350120978

XXXX

Second Home

Purchase

Non-QM: Lender documented all ATR UW factors

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

Eligibility - XXXXzenship Requirements

The documented XXXXzenship does not meet guideline requirements. Guidelines require for borrowers with non-permanent resident status both the front and back of the Visa. Missing copy of the back of the Visa.

Document Uploaded. - XXXX

Exception provided to allow XXXX and waive copy of the back side of XXXX - XXXX

High Discretionay income; number of years on job and Housing history 0x30x12

XXXX

Waived

XXXX

4350120982

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120982

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120982

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

The Final 1003 is Incomplete

The final 1003 is incomplete. Missing a final loan application for XXXX XXXX.

Document Uploaded. - XXXX

The final 1003 is present - XXXX

Received final 1003 for all borrowers - XXXX

XXXX

Resolved

XXXX

4350121094

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121094

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121094

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Credit Profile - Mortgage/Rental Lates

The loan file verified mortgage/rental lates which exceeded guidelines. Per lender Borrower was victim of wire fraud resulting in the mortgage from XXXX Finance being past due since XXXX XXXX - A formal exception is in file.

Compensating factors used were LTV less than 70%, AND at least 5% less than guideline maximum, Monthly reserves is verified AND at least 4 months more than guideline minimum, Borrower has worked in same job more than 3 years, and Borrower has worked in same industry more than 5 years.

XXXX

Waived

XXXX

4350121095

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Borrower 1 Gap Credit Report is Missing Guidelines required a GAP report or undisclosed debt monitoring report within 10 days of closing.

Document Uploaded. - XXXX

Document dated as of XXXX - XXXX

Condition upheld. GAP/UDM report provided is still dated greater than 10 days from closing. Provide an update. - XXXX

Gap report provided - XXXX

XXXX

Resolved

XXXX

4350121095

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121095

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121095

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Borrower 1 Gap Credit Report is Expired (Greater than 10 Days from Closing/Settlement Date)

Borrower 1 Gap Credit Report is Expired (Greater than 10 days from Closing/Settlement Date).

Borrower 1 Gap Credit Report is not expired. - XXXX

Duplicate Finding. - XXXX

XXXX

Resolved

XXXX

4350121062

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Missing Doc - 3rd Party Valuation Product/Missing

The loan file did not contain the required 3rd party valuation product. The XXXX Collateral Underwriter (CU) in the file is not scored, and the Uniform Collateral Data Portal (UCDP) was not used.

Document Uploaded. SSR's Attached - CU Scores less than 2 - XXXX

CU and LCA were resubmitted and both received a score below 2.5. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121062

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121062

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121065

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121065

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121065

XXXX

Primary Residence

Purchase

QM: Safe Harbor APOR (APOR SH)

XXXX

Compliance

Missing evidence of rate lock

Missing evidence of Rate Lock.

Document Uploaded. - XXXX

Evidence of Rate Lock Provided - XXXX

Received evidence of rate lock - XXXX

XXXX

Resolved

XXXX

4350121070

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Missing Lease Agreement

Guidelines require lease agreements for existing investment properties on Refinance transactions. No lease agreement provided. Need an exception to allow STR 1007 on a rate and term. A formal exception is on file.

LTV does not exceed the maximum allowed.
9 months of reserves are provided.

XXXX

Waived

XXXX

4350121070

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121070

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121070

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Verification Documentation - Expired

The following loan documents were expired at the time of closing. Please provided an unexpired copy of Borrower's passport.

Document Uploaded. - XXXX

Passport provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121074

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121074

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121074

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121066

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121066

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121066

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121067

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121067

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121067

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121069

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121069

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121069

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Program Parameters - Guidelines Conformity

The subject loan does not conform to program guidelines. Subject is four unit with two units under XXXX sq ft / 2 units with no bedroom. A formal exception is in the file.

Loan approved based on rate/term refinance, DSCR > 1.0 and 785 FICO

XXXX

Waived

XXXX

4350121068

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121068

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121068

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121071

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121071

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121071

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Borrower 1 Gap Credit Report is Missing

Borrower 1 Gap Credit Report is Missing Missing required gap credit report or Undisclosed Debt Monitoring report is required no more than 30 days prior to the loan closing or any time after closing.

gap reports are not required on DSCR Loans - XXXX

Condition set in error. GAP/UDM Reports are not required on DSCR loans. - XXXX

Borrower 1 Gap Credit Report is not missing. - XXXX

XXXX

Void

XXXX

4350121075

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121075

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121075

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121072

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Credit

Liabilities - REO

The loan file did not contain sufficient documentation to verify debts associated with all other properties. Missing copy of Note or Final CD for newly purchased property located at XXXX to verify payment and Taxes, HOI, HOA if applicable.

Document Uploaded. - XXXX

All REO Docs were provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121072

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121072

XXXX

Primary Residence

Refinance

Non-QM: Lender documented all ATR UW factors

XXXX

Compliance

No Compliance Findings

The loan meets all applicable compliance guidelines.

XXXX

Cleared

XXXX

4350121073

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121073

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121073

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121084

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

Approval/Underwriting Summary Deficient

Approval/Underwriting Summary is deficient. Unable to locate Underwriting Summary.

Document Uploaded. - XXXX

Approval/Underwriting Summary provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350121084

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121084

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121083

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121083

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350121083

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350121082

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350121082

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Program Parameters - LTV

The subject loan does not meet program parameters for LTV. The subject LTV does not meet guidelines. The file contains a formal exception for 75% LTV with a credit score below the minimum requirement of 720 and a ratio between 0.80 and 0.90; however, the guidelines allow up to 75% LTV with a minimum DSCR of 0.75 for a 700 credit score.

Monthly reserves have been verified and exceed the guideline minimum by at least four months. The housing payment history is 0x30x24 or better.

XXXX

Waived

XXXX

4350121082

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120990

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Asset 3 Less Than 2 Months Verified

Asset has less than 2 months verified in file. XXXX. Guidelines state assets must be seasoned for at least 60 days (about 2 months) before they can be used to meet reserve requirements or down payment. Only one month statement provided.

Document Uploaded. Statement submitted on XXXX shows information for account for XXXX as well. - XXXX
Document Uploaded. - XXXX

XXXX bank statement provided. Condition resolved. - XXXX
Condition upheld. XXXX provided. Guidelines state assets must be seasoned for at least 60 days (about 2 months) before they can be used to meet reserve requirements or down payment. Provided end of XXXX statement for XXXX. - XXXX

XXXX

Resolved

XXXX

4350120990

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared

XXXX

4350120990

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Asset 2 Less Than 2 Months Verified

Document Uploaded. - XXXX

Asset 2 Verified Sufficiently Or Not Applicable - XXXX
XXXX bank statement provided. Condition resolved. - XXXX

XXXX

Resolved

XXXX

4350120990

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Credit

Eligibility - Investor Experience

The borrower(s) investor experience does not meet guideline requirements. Borrower lives rent-free per letter in file and does not own primary residence per Property Report provided. 1003 shows borrower owns one property, a rental at XXXX since XXXX per XXXX Fraud Manager. Based on this information, borrower is a first-time home buyer and first-time investor per guideline definition of these terms. Guidelines require for first-time home buyer of investment property a 12-month documented housing history (cannot live rent free) when there is a rent-free letter in file.

Document Uploaded. Please review the attached document and comment says approved with no price hit. - XXXX

Document Uploaded. - XXXX

Document Uploaded. Approved Exception was provided for: FTHB living rent free. She is not considered an experienced investor. She does own one other investment property, but she has only owned it for 6 months - XXXX

An Exception Request was provided. Provide the Approved Exception Request. - XXXX

FICO higher than 740, AND at least 20 points higher than guideline minimum, 11 months reserves.

XXXX

Waived

XXXX

4350120990

XXXX

Investment

Purchase

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120998

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Credit

No Credit Findings

The loan meets all applicable credit guidelines.

XXXX

Cleared

XXXX

4350120998

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Compliance

No Compliance Tests Performed

DSCR / Business Purpose loans are exempt from Reg Z and Reg X.

XXXX

Cleared

XXXX

4350120998

XXXX

Investment

Refinance

ATR/QM: Exempt

XXXX

Property

Value - Value is supported within -10% of original appraisal amount

The appraised value was supported within -10% and all applicable appraisal guidelines were satisfied.

XXXX

Cleared