ALT ID Number

Seller Loan ID

Client Loan Number

Loan Status

Originator QM/ATR Status

TPR QM/ATR Status

Finding Group

Status

Moodys Final Exception Grade

Fitch Final Exception Grade

SP Final  Exception Grade

Kroll Final Exception Grade

DBRS Final Exception Grade

Category

Finding Name

Initial Comment

Client/Seller Reponse Comments

Conclusion Comment

Waiver Or Exception

Waiver Or Exception Made By

Compensating Factors Merged

General Comments

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

General Credit Exception

If condition documentation is not provided by <45 days from note date>, the purchase of this loan will require a written explanation for the delay and verification of an acceptable payment/disbursement history.

6/1/2018 Payment history provided. Condition cleared.  5/31/2018 LOE provided. Please also provide payment history. Condition maintained.

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Document Error

The Mortgage for the subject property includes a PUD Rider. The appraisal indicates the subject property is not a PUD. Please provided corrected Mortgage.

5/24/2018: Proof of Re-Record removing the PUD Rider provided. Condition cleared.

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Documentation

This loan is aged > 90 days from the date of the Note. Please provide appraisal update.

6/4/2018 Appraisal update provided. Condition cleared.

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing 1008 or Underwriter Approval

1008 indicates the subject property is a PUD. The appraisal reflects the subject property is not a PUD. Please provided updated 1008.

4/18/2018 Updated 1008 provided. Condition cleared.

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

Missing Initial Escrow Account Disclosure

The Initial Deposit shown on the Initial Escrow Account Disclosure does not match the Initial Escrow Payment at Closing shown in section G of the Final CD. Please provide an updated Initial Escrow Account Disclosure.

5/30/2018 IEAD provided with the correct initial deposit. Condition cleared.

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file. The Credit Report fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

4/16/2018 LOE provided indicating a credit report fee was not charged in the subject transaction. Condition cleared.

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Closing Disclosure document error

The final CD is missing the payee for Title-Lender's Title Insurance and Title-Title Insurance Services in section C and Title-Owner's Title Insurance in section H.

Non-material per SFIG guidance, loan will be graded a B for all agencies

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605001

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Rescind

A

A

A

A

A

Property

570 - Review Appraisal Missing

CDA provided in the loan file is incomplete. Please provide complete CDA report.

4.19.18: photos are not required4/16/2018 CDA provided is only 14 pages and is missing photos of subject and comparable photos and details. Please provide full CDA report.

Years in Field 12 years same field  FICO is higher than guideline minimum 765 FICO > 680 minimum required  DTI is lower than guideline maximum 34.69% DTI < 43% max

66420260605002

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

General Compliance Exception

N/A

N/A

66420260605003

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

There is no Flood Certification or Credit Report fee charged in section B of the final Closing Disclosure despite a credit report and flood cert ordered in file.  Provide corrected CD and letter of explanation to the Borrower.

Non-material per SFIG guidance, loan will be graded a B for all agencies

66420260605003

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Missing borrower’s documented Intent to Proceed

n/a SFIG

66420260605003

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

Missing seller’s Closing Disclosure

Missing Seller's Closing Disclosure

5/17/2018 Seller information included in final CD. Condition cleared.

66420260605004

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Correspondent wiring instructions

The Correspondent Wire Instructions are missing from the loan file.

4/26/2018 Wiring instructions provided. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 68.86% DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.39% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801

66420260605004

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

duplicate

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 68.86% DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.39% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801

66420260605004

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file. The Credit Report fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

Considered a non-material finding. Loan will be graded a B for all agencies.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 68.86% DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.39% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801

66420260605004

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Total of Payments is not accurate

n/a SFIG

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 68.86% DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.39% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801

66420260605004

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

Missing Closing Disclosure / CD Not in File

Both the Initial and Funding CD is missing from the loan file.   No Cure - Missing document not provided.

4/26/2018 Missing CD document provided. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 68.86% DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.39% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801

66420260605004

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Rescind

A

A

A

A

A

Property

570 - Review Appraisal Missing

Third party valuation tool missing from file.

Field review in file. Condition rescinded.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 68.86% DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.39% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801

66420260605005

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Verification of Taxes and Insurance amounts for Rental Property

Evidence of insurance for departing residence and property #2 on the final application not provided. Evidence of Taxes for Property #2 and #3 on the final application not provided.

05.09.2018 - evidence provided. this finding has been Cleared

FICO is higher than guideline minimum FICO 789 higher than required 680 Reserves are higher than guideline minimum Excess of $19,382.16 of required reserves. DTI is lower than guideline maximum DTI 24.00 lower that QM of 43%

66420260605005

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Special Information Booklet not provided within 3 business days of application date.

n/a

FICO is higher than guideline minimum FICO 789 higher than required 680 Reserves are higher than guideline minimum Excess of $19,382.16 of required reserves. DTI is lower than guideline maximum DTI 24.00 lower that QM of 43%

66420260605005

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Closing Costs Disclosure under Costs at Closing section (Page 1) do not match Closing Costs details (Page 2)

n/a

FICO is higher than guideline minimum FICO 789 higher than required 680 Reserves are higher than guideline minimum Excess of $19,382.16 of required reserves. DTI is lower than guideline maximum DTI 24.00 lower that QM of 43%

66420260605006

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Failure to obtain Evidence of Self Employment

The loan co-application indicated that the borrower was self-employed for 19.17 years. According to the program guidelines, documentation for a self-employed borrower requires an independent confirmation of self-employment, such as a copy of the business license or a letter from an accountant verifying the length and existence of the business. The loan file contained no verification of the borrower’s business, rendering the subject mortgage ineligible for delivery to the investor.  This is required for the loan to qualify as QM.

5/4/2018 Co-Borrower income was not used to qualify. Condition cleared.

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with over 12 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.89% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 800

66420260605006

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

A

A

A

Credit

Bonus Income 50% or greater than borrowers salary

n/a

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with over 12 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.89% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 800

66420260605006

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

Loan does not meet criteria for Qualified Mortgage

The loan co-application indicated that the borrower was self-employed for 19.17 years. According to the program guidelines, documentation for a self-employed borrower requires an independent confirmation of self-employment, such as a copy of the business license or a letter from an accountant verifying the length and existence of the business. The loan file contained no verification of the borrower’s business, rendering the subject mortgage ineligible for delivery to the investor.

5/4/2018 Co-Borrower income was not used to qualify. Condition cleared.

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with over 12 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.89% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 800

66420260605006

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Closing Disclosure document error

The transfer tax listed in section H of the final CD should be moved in Section E. The sellers title fees were also listed in section H when they should have been listed in section B.

Non-material, this will be graded as a "B".

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with over 12 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.89% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 800

66420260605007

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Evidence of HOA Fees

Missing HOA INFO –missing required information for monthly amount and status of payments.  Subject property HOA guidelines require name of association or management company, contact information including phone number and email if available evidence of current status of dues and information pertaining to the amount and frequency of dues.

5/22/2018 HOA contact information provided. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 777 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 26.28% No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies over 99 months payment history with no late payments reported

66420260605007

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Correspondent wiring instructions

Missing Correspondent wiring instructions.

5/23/2018: Wiring instructions provided. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 777 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 26.28% No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies over 99 months payment history with no late payments reported

66420260605007

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee and Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report and flood cert in the file. The Credit Report fee and Flood Cert fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

05/13/2018: This finding is deemed non-material and rated an B for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 777 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 26.28% No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies over 99 months payment history with no late payments reported

66420260605007

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

ECOA Non-Compliant: Appraisal disclosure not provided within 3 days of application.

na

na

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 777 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 26.28% No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies over 99 months payment history with no late payments reported

66420260605007

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Total of Payments is not accurate

na

na

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 777 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 26.28% No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies over 99 months payment history with no late payments reported

66420260605008

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing AUS results

Missing AUS results

5/8/2018 DU provided in Clean Room. Condition cleared.

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 263.50 months reserves FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.89%

66420260605008

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Third Party Fraud Tool (Report)

Missing Third Party Fraud Tool. Needing complete Fraud report dated 4/20/18. Only 2 pages provided

5/9/2018 Fraud report provided with required searches. Condition cleared.       5/8/2018 Fraud report provided is missing participant search results for the appraiser. Please provide updated fraud report including all required participant searches. Condition maintained.

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 263.50 months reserves FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.89%

66420260605008

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

General Compliance Exception

N/A

N/A

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 263.50 months reserves FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.89%

66420260605008

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Loan Late Charge Parameters Exceeds State Thresholds

N/A

N/A

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 263.50 months reserves FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.89%

66420260605008

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Total of Payments is not accurate

N/A

N/A

Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 263.50 months reserves FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 801 DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.89%

66420260605009

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Correspondent wiring instructions

Missing Correspondent wiring instructions

5/4/2018 Wiring instructions provided. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 15.41% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 793 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 40.40 months reserves

66420260605009

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in Section B of the final Closing Disclosure despite evidence of a credit report in the file. The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

Non-material, this will be graded as a "B".

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 15.41% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 793 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 40.40 months reserves

66420260605009

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

Missing Closing Disclosure / CD Not in File

The initial CD is missing from the loan file.   No Cure - Missing document not provided.

5/4/2018 Initial CD provided. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 15.41% FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 793 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 40.40 months reserves

66420260605009

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

General Compliance Exception

N/A

N/A

66420260605011

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Third Party Fraud Tool (Report)

Missing most recent and complete Third Party Fraud Tool that corresponds with correct loan participant searches obtained, missing exclusionary search for Appraiser.

5/10/2018 Fraud report provided includes required searches. Condition cleared.  5/10/2018 Fraud report provided is missing search results for the appraiser. Please provide updated full Data Verify report including all required participant searches. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 787 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.40 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.70%

66420260605011

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Correspondent wiring instructions

Missing Correspondent wiring instructions

5/10/2018 Wiring instructions provided. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 787 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.40 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.70%

66420260605011

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B(w)

B

B

B

Compliance

Missing Affiliated Business Disclosure

Missing Affiliated Business Disclosure

Non-material, will be graded as a "B."

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 787 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.40 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.70%

66420260605011

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

Credit Report and Flood Certification Fees were not reflected in Section B of the final Closing Disclosure despite evidence of a credit report and flood certificate in the file. The Credit Report and Flood Certification Fees should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

Non-material, will be graded as a "B."

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 787 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.40 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.70%

66420260605011

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

B

B

B

B

B

Compliance

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $XX,XXX.XX a month vs. the calculated value of $XX,XXX.XX a month. The lender used the incorrect amount of $XX,XXX.XX for the  HOA vs. the actual amount of $98. Provide corrected CD, letter of explanation, proof of delivery and re-open rescission, if applicable.

5/10/2018 Post close CD and LOE provided. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 787 Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.40 months reserves DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.70%

66420260605012

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

A

A

A

Credit

Failure to obtain Occupation and Employer Information

n/a

n/a

LTV is lower than guideline maximum 71.35% LTV < 80% Max per guides No Rental Lates VOR reflects no late payments FICO is higher than guideline minimum FICO 785 > 680 minimum per guides

66420260605012

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Evidence of HOA Fees

Missing evidence of the monthly HOA dues and the dues status as required per the lender.

4/30/2018 HOA information provided. Condition cleared.

LTV is lower than guideline maximum 71.35% LTV < 80% Max per guides No Rental Lates VOR reflects no late payments FICO is higher than guideline minimum FICO 785 > 680 minimum per guides

66420260605012

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing LOE

Per VOE in file borrower 1 recently returned from a leave of absence, missing LOX form borrower for the leave of absence and how long the leave was for. This is required for the loan to qualify for QM.

5/1/2018 LOE provided. Condition cleared.

LTV is lower than guideline maximum 71.35% LTV < 80% Max per guides No Rental Lates VOR reflects no late payments FICO is higher than guideline minimum FICO 785 > 680 minimum per guides

66420260605012

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Assessor's Parcel Number is not consistent between Appraisal, Title, and/or Mortgage.

The Parcel number does not match from the appraisal to the mortgage due to loan being a new construction.

5/7/2018 Updated appraisal provided. Condition cleared.

LTV is lower than guideline maximum 71.35% LTV < 80% Max per guides No Rental Lates VOR reflects no late payments FICO is higher than guideline minimum FICO 785 > 680 minimum per guides

66420260605012

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B(w)

B

B

B

Compliance

Missing Affiliated Business Disclosure

Missing the Affiliated Business Disclosure.

non-material, this will be graded as a "B".

LTV is lower than guideline maximum 71.35% LTV < 80% Max per guides No Rental Lates VOR reflects no late payments FICO is higher than guideline minimum FICO 785 > 680 minimum per guides

66420260605012

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Ability to Repay Non-Compliant:  Missing evidence that lender verified the borrower(s) employment in qualification

n/a

N/A

LTV is lower than guideline maximum 71.35% LTV < 80% Max per guides No Rental Lates VOR reflects no late payments FICO is higher than guideline minimum FICO 785 > 680 minimum per guides

66420260605012

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Total of Payments is not accurate

n/a

N/A

LTV is lower than guideline maximum 71.35% LTV < 80% Max per guides No Rental Lates VOR reflects no late payments FICO is higher than guideline minimum FICO 785 > 680 minimum per guides

66420260605013

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

A

A

A

Credit

Hazard Insurance Shortfall

The hazard insurance policy in file reflected dwelling coverage of $XX,XXX.XX with 100% replacement cost up to $XX,XXX.XX.  The loan amount is $XX,XXX.XX which leaves a shortage of hazard insurance coverage for  $XX,XXX.XX . A cost estimator from the insurer was not provided. "

5/25/2018: Hazard insurance policy reflects coverage is equal to the estimated replacement cost of the dwelling. Coverage sufficient. Condition rescinded.

Reserves are higher than guideline minimum UW guides require reserves of 9 months , loan qualifies with 53 months reserves  FICO is higher than guideline minimum UW guides requires FICO of 680, loan qualifies with FICO of 767 No Mortgage Lates UW guide requires 0x30 lates wihtin the most recent 24 months reviewed, loan qualfies with 0x30 lates with 99 months reviewed on the credit report.

66420260605013

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

A

A

A

Compliance

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

n/a

Reserves are higher than guideline minimum UW guides require reserves of 9 months , loan qualifies with 53 months reserves  FICO is higher than guideline minimum UW guides requires FICO of 680, loan qualifies with FICO of 767 No Mortgage Lates UW guide requires 0x30 lates wihtin the most recent 24 months reviewed, loan qualfies with 0x30 lates with 99 months reviewed on the credit report.

66420260605013

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

General Compliance Exception

N/A

N/A

66420260605014

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Acknowledged

B

B

B

B

B

Compliance

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Flood Certification Fee was not reflected in section B of the Closing Disclosure despite evidence of a Flood Certificate in the file. The Flood Certificate Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

This finding is not material and will be graded a B for all agencies

66420260605016

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Documentation

Missing HOA information for HOA company name, contact name and email or number, monthly amount and dues status.

6/25/2018 HOA information provided. Condition cleared.

No Mortgage Lates 43 months verified not late on previous OO home FICO is higher than guideline minimum 790 FICO higher than 680 FICO MIN DTI is lower than guideline maximum DTI 35.63% lower than 43% DTI MAX

66420260605016

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

A

A

A

Credit

Missing Correspondent wiring instructions

Missing Wiring instructions from the originator.

6/22/2018 Wiring instructions provided. Condition cleared.

No Mortgage Lates 43 months verified not late on previous OO home FICO is higher than guideline minimum 790 FICO higher than 680 FICO MIN DTI is lower than guideline maximum DTI 35.63% lower than 43% DTI MAX

66420260605016

XXXX

XXXX

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

A

A

A

Compliance

General Compliance Exception

N/A

N/A

No Mortgage Lates 43 months verified not late on previous OO home FICO is higher than guideline minimum 790 FICO higher than 680 FICO MIN DTI is lower than guideline maximum DTI 35.63% lower than 43% DTI MAX