EXHIBIT 99.6

CONSOLIDATED ANALYTICS, INC. (“CONSOLIDATED ANALYTICS”) DUE DILIGENCE EXECUTIVE SUMMARY

LOGO

EXECUTIVE SUMMARY

THIRD PARTY DUE DILIGENCE REVIEW

June 12, 2026

Overview

Consolidated Analytics, Inc (“Consolidated Analytics”), a third-party due diligence provider, performed the review described below on residential mortgage loans originated by PennyMac Corp. (the “Client”). The review included a total of 174 residential mortgage loans in connection with the securitization identified as PMTLT 2026-J4 (the “Securitization”). The Review was conducted from November 2025 and June 2026 on mortgage loans originated between October 2025 and May 2026.

Scope of Review

Credit Review

Consolidated Analytics performed a “Credit Review” to verify compliance with guidelines in effect at the time of loan origination, or other guidelines provided by Client prior to review, and ensure the characteristics used by the underwriter are supported by the file documentation; and determine whether any loans outside of those guidelines contain legitimate and approved exceptions with compensating factors.

The Credit Review attempted to confirm the following:

 

  a.

QM or ATR Validation / Review of 8 Key Underwriting Factors

 

  i.

Income / Assets

 

  •  

Validate borrower(s) monthly gross income

 

  •  

Validate funds required to close, required reserves

 

  •  

Review file documentation for required level of income and asset verifications

  ii.

Employment Status

 

  •  

Review file documentation for required level of employment

  iii.

Monthly Mortgage Payment

 

  •  

Confirm program, qualifying rate, terms

  iv.

Simultaneous Loans

 

  •  

Validate all concurrent loans are included in the DTI to properly assess the ability to repay

  v.

Mortgage Related Obligations : PITI, HOA, PMI, etc.

 

  •  

Validate subject loan monthly payment (PITI) and associated obligations

  vi.

Debts / Obligations

 

  •  

Validate monthly recurring liabilities

  vii.

DTI and/or Residual Income

 

  •  

Validate debt-to-income ratio (DTI) based upon income and debt documentation provided in the file

 

  •  

Documentation meets Appendix Q requirements for QM Loans

  viii.

Credit History

 

  •  

Review credit report for credit history and required credit depth including any / all inquiries

 

  •  

Determine representative credit score from credit report

 

  b.

Validate loan-to-value (LTV) and combined loan-to-value

  c.

Review borrower’s occupancy

  d.

Validation through third party resource of the subject properties most recent twelve (12) month sales history

  e.

Confirm sufficient evidence in loan file, by reviewing the underwriter’s decision to approve the loan based upon the borrower’s income, debt, and credit history, to support borrower’s willingness and ability to repay the debt

  f.

Confirm that Final 1003 is sufficiently completed

  g.

Provide Audit 1008 with accurate data based on file documentation

  h.

Confirm Loan Approval conditions were met

  i.

Review condominium questionnaire to verify all information is complete, prepared by an authorized representative, and address any red flags that may deem condominium project ineligible

  j.

General QM for any loans originated under the GQM Rule

 

  i.

Pricing Thresholds:

 

  a.

Pricing for First Lien Loans:

 

  i.

2.25% for a first-lien covered transaction with a loan amount greater than or equal to the applicable dollar amount threshold; and

  ii.

3.5% for a first-lien covered transaction with a loan amount greater than or equal to the applicable dollar amount threshold; and

  iii.

6.5% for a first-lien covered transaction with a loan amount less than the applicable dollar amount threshold.

 

  b.

Pricing for Subordinate Lien Loans:

 

  i.

3.5% for a subordinate-lien covered transaction with a loan amount greater than or equal to the applicable dollar amount threshold; and

  ii.

6.5% for a subordinate-lien covered transaction with a loan amount less than the applicable dollar amount threshold.

 

  c.

Pricing for Manufactured Homes:

 

  i.

2.25% for a first-lien covered transaction secured by a manufactured home with a loan amount equal to or greater than the applicable dollar amount threshold; and

  ii.

6.5% for a covered transaction secured by a manufactured home with a loan amount less than applicable dollar amount threshold.

 

  ii.

Consider Income and Assets:

 

  o

Consumer’s current or reasonably expected income or assets (other than the value of the dwelling that secures the loan;

  o

The consumer’s debt obligations, alimony, child support; and

  o

The monthly DTI or residual income.

 

  iii.

Verification of Income and Assets:

 

  a.

Verification of compliance with one of the “safe harbor” guidelines will meet the QM verification requirement. A creditor is allowed to “mix and match” provisions of the different guidelines rather than only apply one guideline per loan.

The specific guidelines that the CFPB is designating for the safe harbor are: The GQM Rule provides that if the creditor verifies the consumer’s income or assets, debt obligations, alimony, child support, and monthly DTI or residual income by meeting the standards of certain specified third-party underwriting manuals, then a creditor is presumed to have complied with the verification requirement. These specified manuals are:

  i.

Chapters B3-3 through B3-6 of the Fannie Mae Single Family Selling Guide, published June 3, 2020;

  ii.

Sections 5102 through 5500 of the Freddie Mac Single-Family Seller/Servicer Guide, published June 10, 2020;

  iii.

Sections II.A.1 and II.A.4-5 of the Federal Housing Administration’s Single Family Housing Policy Handbook, issued October 24, 2019;

  iv.

Chapter 4 of the U.S. Department of Veterans Affairs’ Lenders Handbook, revised February 22, 2019;

  v.

Chapter 4 of the U.S. Department of Agriculture’s Field Office Handbook for the Direct Single Family Housing Program, revised March 15, 2019; and

  vi.

Chapters 9 through 11 of the U.S. Department of Agriculture’s Handbook for the Single Family Guaranteed Loan Program, revised March 19, 2020.

Compliance Review

Consolidated Analytics performed a “Compliance Review” to determine, as applicable, to the extent possible and subject to the caveats below, whether the loan complies with applicable regulatory requirements as noted below, each as amended, restated and/or replaced from time to time. In relation to cash out refinances of investment property loans, documentation provided in the loan file will be reviewed only to validate the use of cash out proceeds for business purposes at the origination/consummation of the loan. In the event use of proceeds cannot be validated, or are deemed to be utilized for consumer purposes, the loan would then be subject to a “Compliance Review” of applicable regulatory requirements as noted below, each as amended, restated and/or replaced from time to time. The Compliance Review included the following:

 

  a.

Test Loan Estimate(s) for accuracy and completeness as well as timing requirements as required by TRID Regulations

 

  b.

Test Closing Disclosure(s) for accuracy and completeness as well as timing requirements as required by TRID Regulations

 

  c.

Tolerance Testing

  i.

Compare Loan Estimate and Closing Disclosures

  ii.

Identify Tolerance Violations and applicable cost to cure

 

  d.

Comprehensive review of Closing Disclosure to determine transaction accuracy

 

  e.

Recalculation of APR and Finance Charge

 

  f.

Testing of:

  i.

Federal High-Cost Mortgage provisions

  ii.

Federal Higher Priced Mortgage Loans provisions

  iii.

Local and/or State Anti-predatory and High-Cost provisions

  iv.

HOEPA Points and Fees

 

  g.

Determine whether specified federal disclosures were provided timely based upon comparison of the application date to the dates on such disclosures

  i.

Service Provider List

  ii.

Home Ownership Counselling Disclosure

  iii.

ARM Disclosure

 

  h.

Compliance with QM as it relates to:

  i.

APR Test

  ii.

Points & Fees Test

  iii.

Prepayment Penalty Test

  iv.

Product Eligibility Testing

 

  i.

Notice of Right to Cancel (Rescission) Review

  i.

Confirm transaction date, expiration date, and disbursement date

  ii.

Confirm document is properly executed by all required parties to the transaction

  iii.

Confirm the correct Right of Rescission document was executed for the transaction type

 

  j.

Confirm through NMLS the loan originator and originating firm’s license status was active and properly disclosed on appropriate loan documents

 

  k.

Check the Loan participants against the exclusionary list provided by Client or by the purchaser of the Loan(s)

 

  l.

Review closing documents to ensure that the Mortgage Loan information is complete, accurate, and consistent with other documents; Confirm collateral documents have been recorded or sent for recording

The Compliance Review did not include any federal, state or local laws, constitutional provisions, regulations or ordinances that are not expressly enumerated above. Furthermore, the findings reached by Consolidated Analytics are dependent upon receiving complete and accurate data regarding the loans from loan originators and other third parties upon which Consolidated Analytics is relying in reaching such findings.

Valuation Review

Consolidated Analytics performed a “Valuation Review,” which included the following:

 

  a.

Review original appraisal, determination that property is in “average” condition or better, or property requires cosmetic improvements (as defined by the appraiser) that do not affect habitability. Should an area of concern be identified with the condition of the property, Consolidated Analytics will alert Client.

  b.

Review appraisal, determination that property is completely constructed and appraisal is on an “as is basis,” or property is identified as not completely constructed by originating appraiser.

  c.

Review and determine if the appraisal report was performed on appropriate GSE forms and if the appraiser indicated in the body of the subject appraisal that the appraisal conforms to USPAP standards.

  d.

Review and determine the relevance of the comparable properties and ensure that a rational and reliable value was provided and supported as of the effective date of the Origination Appraisal.

  e.

Review adjustments (line item, net and gross adjustments) to ensure they are reasonable.

  f.

Ensure that the appraisal conforms to the guidelines provided from the Client.

  g.

Review appraisal to ensure all required documents were included.

  h.

Review location map provided within the appraisal for external obsolescence.

  i.

Ensure highest and best use and zoning complies with guidelines.

  j.

Confirm there are no marketability issues that affect the subject property.

  k.

Ensure subject property does not suffer any functional obsolescence.

  l.

Where applicable, determine if the file did not contain the appraisal or other valuation method and a review could not be performed.

  m.

Additional valuation products were not required when the CU score provided was 2.5 or below or the appraisal was eligible for FHLMC Collateral Rep and Warrant Relief. In the event the CU score was greater than 2.5, or the appraisal was Not Eligible for FHLMC Collateral R&W Relief, an additional valuation product was obtained to confirm value was supported within 10% tolerance. Based on guidance from the seller, secondary valuation products may have been provided on loans that had an acceptable CU score or were Eligible for FHLMC R&W Relief.

Consolidated Analytics applied a cascade methodology to determine if the original appraised value was reasonably supported when compared to an independent third-party valuation product.

For loans reviewed in a post-close valuation review scenario (174 loans in total):

Eighty-four (84) loans had an AVM, six (6) loans had a Secondary Appraisal, and twenty (20) loans had Desk Reviews. Consolidated Analytics has independent access to the valuation products ordered by the Client.

If a loan with an AVM or Desk Review fell outside of a -10% tolerance, had an AVM FSD score that exceeded allowable thresholds, or was inconclusive, then an additional secondary valuation product was obtained. There were nineteen (19) occurrences of this. In these instances, seventeen (17) Desk Reviews, one (1) Field Review, and one (1) Secondary Appraisal were obtained, all of which supported value.

There were zero (0) PIW loans.

Product totals may not sum due to multiple products for each loan

TAPE INTEGRITY REVIEW RESULTS SUMMARY

Of the one-hundred seventy-four (174) mortgage loans reviewed, ninety-one (91) unique mortgage loans (52.30% by loan count) had a total of one hundred twenty-nine (129) discrepancies across eighteen (18) data fields. A blank or zero value on the data tape when an actual value was captured by Consolidated Analytics was not treated as a data variance.

 

Fields Reviewed     Discrepancy 
  Count   		   Percentage

QM Qualifying Total Debt Income Ratio

    48    37.21%

Property Address

    27    20.93%

Property Type

    14    10.85%

Application Date

    7    5.43%

Total Qualified Assets Post-Close

    5    3.88%

Qualifying LTV

    3    2.33%

Loan Program

    4    3.10%

Qualifying FICO

    3    2.33%

Note Date

    3    2.33%

Refinance Type

    2    1.55%

Escrow Waiver in File

    2    1.55%

Occupancy

    2    1.55%

Loan Purpose

    2    1.55%

Property Zip Code

    2    1.55%

Loan Product Type

    2    1.55%

Total Closing Costs

    1    0.78%

First Payment Date

    1    0.78%

Property City

    1    0.78%

Grand Total

    129    100.00%

Summary of Results

OVERALL RESULTS SUMMARY

Final Loan Grades

 

Overall Loan Results:
 Event Grade     Loan Count      Original Principal  Balance      Percent  of 
Sample
Event Grade A    107    $136,158,537.00    61.49%
Event Grade B    67    $87,210,691.00    38.51%
Event Grade C    0    $0.00    0%
Event Grade D    0    $0.00    0%
Total Sample    174    $223,369,228.00    100.00%

 

Credit Results:
 Event Grade     Loan Count      Percent of Sample 
Event Grade A    164    94.25%
Event Grade B    10    5.75%
Event Grade C    0    0%
Event Grade D    0    0%
Total Sample    174    100.00%

 

Compliance Results:
 Event Grade     Loan Count      Percent of Sample 
Event Grade A    112    64.37%
Event Grade B    62    35.63%
Event Grade C    0    0%
Event Grade D    0    0%
Total Sample    174    100.00%

 

   Valuation Results:
     
    Event Grade        Loan Count        Percent of  Sample  
     
   Event Grade A    173    99.43%
     
   Event Grade B    1    0.57%
     
   Event Grade C    0    0%
     
   Event Grade D    0    0%
     
   Total Sample    174    100.00%

 

 

Exception Category Summary

The table below summarizes the individual exceptions which carried an associated “A”, “B”, “C”, or “D” level exception grade. One loan may have more than one exception. In such cases, the exception resulting in the lowest grade would drive the loan grade for that component of the review. The overall loan grade is the lowest grade for any one review scope (ex. a loan with a Compliance Grade of “B”, a Credit Grade of “A”, and a Property Grade of “A” would receive an overall Loan Grade of “B”).

 

      Exception  
Type		   

  Exception  
Level

Grade

    Exception Category      Total    
 

Credit

    A   

 

No Credit Findings

 

      94  
  

 

Missing VOM or VOR

 

      14  
  

 

Missing verification of taxes, insurance, and/or HOA fees for non-subject property

 

      9  
  

 

Third Party Fraud Report not Provided

 

      7  
  

 

HMDA Data Tape Not Provided

 

      5  
  

 

Income and Employment Do Not Meet Guidelines

 

      5  
  

 

Missing Verification of Subject Property Taxes, Insurance, HOA or Other Payments

 

      4  
  

 

Borrower 1 W2/1099 Missing

 

      4  
  

 

Audited Reserves are less than Guideline Required Reserves (Dollar Amount)

 

      4  
  

 

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

 

      3  
  

 

Borrower 1 3rd Party VOE Prior to Close Missing

 

      3  
  

 

Asset Qualification Does Not Meet Guideline Requirements

 

      3  
  

 

AUS Partially Provided

 

      3  
  

 

Missing Trust Agreement

 

      2  
  

 

Asset 4 Does Not Meet Guideline Requirements

 

      2  
  

 

Purchase Contract does not Match Final CD

 

      1  
  

 

Purchase Contract is Missing

 

      2  
  

 

Asset General

 

      2  
  

 

The Deed of Trust is Missing

 

      2  
  

 

The Note is Missing

 

      2  
  

 

Housing History Does Not Meet Guideline Requirements

 

      2  
  

 

Hazard Insurance Effective Date is after the Disbursement Date

 

      2  
  

 

Verification of Borrower Liabilities Missing or Incomplete

 

      2  
  

 

Borrower 2 W2/1099 Missing

 

      2  
  

 

Purchase is not considered to be an Arm’s Length Transaction

 

      1  
  

 

Borrower 1 1040 Schedule E Missing

 

      1  
  

 

Missing Lease Agreement

 

      1  
  

 

Borrower 1 Paystubs Missing

 

      1  
  

 

Property Title Issue

 

      1  
  

 

Borrower 1 Personal Tax Returns Missing

 

      1  
  

 

The Final 1003 is Incomplete

 

      1  
  

 

Borrower 1 Photo Identification not provided

 

      1  

       
              

Asset 1 Does Not Meet Guideline Requirements

      1  
  

Asset 10 Missing

      1  
  

Borrower 1 Business Tax Returns Missing

      1  
  

The Final 1003 is Missing

      1  
  

Purchase Contract is Incomplete

      1  
  

Assets do not meet guideline requirements

      1  
  

The Deed of Trust is Incomplete

      1  
  

Audited CLTV Exceeds AUS CLTV

      1  
  

Missing income documentation

      1  
  

Title Document is Partially Present

      1  
  

Missing Property Tax Cert

      1  
  

Audited DTI Exceeds AUS DTI

      1  
  

Asset 7 Does Not Meet Guideline Requirements

      1  
  

All Interested Parties Not Checked with Exclusionary Lists

      1  
  

Asset 1 Missing

      1  
  

Audited DTI Exceeds Guideline DTI

      1  
  

OFAC Check Not Completed and/or Cleared

      1  
  

Hazard Insurance Policy is Missing

      1  
  

Borrower 1 Credit Report is Missing

      1  
  

Audited HCLTV Exceeds AUS HCLTV

      1  
  

Borrower 1 IRS Transcripts Missing

      1  
  

HMDA Discrepancy(s) Noted

      1  
  

Second Home Rider is Missing

      1  
  

Audited LTV Exceeds AUS LTV

      1  
  

Borrower 1 Lease Agreements Missing

      1  
  

Asset 2 Does Not Meet Guideline Requirements

      1  
  

Borrower 1 Paystubs Less Than 1 Month Provided

      1  
  

Missing Income - Bank Statements

      1  
  

The Total Hazard Coverage is LESS than the Required Coverage Amount

      1  
  

Borrower 2 WVOE Missing

      1  
  

Third Party Fraud Report Partially Provided

      1  
  

Evidence of Property Tax Missing

      1  
  

Flood Insurance Effective Date is after the Disbursement Date

      1  
  

Verified Liquid Assets Insufficient For Closing

      1  
  

Flood Insurance Minimum Coverage Not Met

      1  
  

Guideline Seasoning not Met

      1  
       

Total Credit Grade (A) Exceptions:

      223  
  

 

 

B

   

Title Coverage is Less than Subject Lien

      5  
  

Approval/Underwriting Summary Not Provided

      3  
  

Purchase Contract is Incomplete

      1  
  

Purchase Contract does not Match Final CD

      1  
     
           

Total Credit Grade (B) Exceptions:

      10  

         
  Compliance    A   

No Compliance Findings

      82  
       
       

Charges That Cannot Increase Test

      19  
  

Lender Credits That Cannot Decrease Test

      10  
  

Revised Loan Estimate Delivery Date Test (prior to consummation)

      4  
  

Initial Closing Disclosure Delivery Date Test

      3  
  

Revised Closing Disclosure Delivery Date and Changed Circumstances Date Test

      2  
  

Charges That in Total Cannot Increase More Than 10% Test

      2  
  

Evidence of Appraisal Delivery to Borrower not Provided or Late (12 CFR 1002.14(a)(1))

      2  
  

TILA Post-Consummation Revised Closing Disclosure Finance Charge Test

      2  
  

Initial Loan Estimate Delivery Date Test (from application)

      2  
  

Missing Required Affiliated Business Disclosure

      2  
  

Collateral Protection Act, 815 Ill. Comp. Stat. 180/1 et seq. - Collateral Protection Notice was not provided

      1  
  

TRID: Missing Closing Disclosure

      1  
  

TILA Right of Rescission Test

      1  
  

Escrow Waiver is Not Executed

      1  
  

Incorrect rescission model used - RTC form model H-8 used for Same Lender or Lender Affiliate Refinance

      1  
  

TILA Finance Charge Test

      1  
       

Total Compliance Grade (A) Exceptions:

      136  
  

 

 

B

   

Evidence of Appraisal Delivery to Borrower not Provided or Late (12 CFR 1002.14(a)(1))

      43  
  

Missing Required Affiliated Business Disclosure

      13  
  

Charges That Cannot Increase Test

      5  
  

Missing Initial Escrow Disclosure

      3  
  

RESPA Homeownership Counseling Organizations Disclosure Date Test

      2  
  

TILA Finance Charge Test

      2  
  

Missing Credit Score Disclosure (FACTA)

      1  
  

Homeownership Counseling Disclosure Is Missing

      1  
  

eSigned Documents Consent is Missing

      1  
  

Homeownership Counseling Disclosure Is Partially Provided

      1  
       
           

Total Compliance Grade (B) Exceptions:

      72  
       
 

 

 

Property

   

 

 

A

   

No Property Findings

      159  
  

Third Party Valuation Product Not Provided within 10% Tolerance

      5  
  

UCDP Summary Report is Missing

      1  
  

Appraisal is Expired

      1  
  

Appraisal incomplete (missing map, layout, pages, etc.)

      1  
  

HOA Questionnaire is Missing

      1  
       

Total Property Grade (A) Exceptions:

      168  
   B   

Third Party Valuation Product Not Provided within 10% Tolerance

      1  
      

Total Property Grade (B) Exceptions:

      1  

Event Grade Definitions

 

Final Loan Grade
A    Loan meets Credit, Compliance, and Valuation Guidelines
B    The loan substantially meets published Client/Seller guidelines and/or eligibility in the validation of income, assets, or credit, is in material compliance with all applicable laws and regulations, and the value and valuation methodology is supported and substantially meets published guidelines.
C    The loan does not meet the published guidelines and/or violates one material law or regulation, and/or the value and valuation methodology is not supported or did not meet published guidelines.
D    Loan is missing documentation to perform a sufficient review.

 

Credit Event Grades
A    The loan meets the published guidelines without any exceptions. Employment, income, assets and occupancy are supported and justifiable. The borrower’s willingness and ability to repay the loan is documented and reasonable.
B    The loan substantially meets the published guidelines, but reasonable compensating factors were considered and documented for exceeding published guidelines. Employment, income, assets and occupancy are supported and justifiable. The borrower’s willingness and ability to repay the loan is documented and reasonable.
C    The loan does not substantially meet the published guidelines. There are not sufficient compensating factors that justify exceeding the guidelines published. Employment, income, assets or occupancy are not supported and justifiable. The borrower’s willingness and ability to repay the loan were not documented or are unreasonable.
D    There was not sufficient documentation to perform a review, or the credit file was not furnished.

Compliance Event Grades
A    The loan complies with all applicable laws and regulations. The legal documents accurately reflect the agreed upon loan terms and are executed by all applicable parties.
B    Nonmaterial exceptions identified but do not impact the enforceability of the mortgage loan or statute of limitations has expired on the loan. Remedy to cure or reasonably good faith effort to re-disclose was made to conform to applicable laws and regulations. All cures are fully documented by copies of the originator refund letter to the borrower, referencing the violation, canceled check, and proof of delivery.
C    The loan violates one material law or regulation. A benefit to the borrower cannot be determined. Required material disclosures are absent from the loan file, or the legal documents do not accurately reflect the loan terms agreed upon. All required applicants did not execute the documents.
D    There was not sufficient documentation to perform a review, or the required legal documents were not furnished.

 

Valuation Event Grades
A    Secondary value is supported within 10% of the original appraisal value. AVM used as a secondary valuation product has a value within 10% of the original appraised value and an FSD score less than or equal to .15. The appraisal was performed on an “as-is” basis and the property is complete and habitable at origination. The appraiser was appropriately licensed, and the appraisal form is compliant with Uniform Standards of Professional Appraisal Practices (USPAP), Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) and satisfies applicable legal and regulatory requirements.
B    Additional secondary valuation products were obtained to support the original appraised value within 10%. The valuation methodology substantially meets the published guidelines, but reasonable compensating factors were considered and documented for exceeding guidelines. The appraisal was performed on an “as-is” basis and the property is complete and habitable. The appraiser was appropriately licensed and used GSE approved forms.
C    The value cannot be supported within 10% of the original appraisal. The valuation methodology did not meet the published guidelines and there were not sufficient compensating factors for exceeding published guidelines. The property is in below “average” condition, or the property is not complete or requires significant repairs. The appraisal was not performed on an “as is” basis. The appraiser was not appropriately licensed, or the appraisal was not performed using USPAP and FIRREA compliant appraisal forms
D    The appraisal is missing from the loan file or there was not sufficient valuation documentation to perform a review. AVM was used as a secondary value with a FSD > 0.15, or an AVM performed by a non-Fitch-reviewed vendor.