Selene Diligence LLC (“Selene”) Due
Diligence Review Narrative (“Report”)

Selene’s Report, which is to be made available to the recipients by the Client (as defined below), includes the results of Selene’s independent, third-party due diligence review conducted on behalf of the Client. The reviews were performed generally in accordance with Clients’ criteria, provided such activities are applicable to the Option Investments being reviewed to the underwriting requirements (the “Guidelines”). The scope of review is as follows:

Selene provided an Underwriting Guideline Check, Appraisal/BPO Review, Property/Environmental Review, Confirmatory Data Review, Confirmatory Document Review, and Title Lien Review for 1-4 family residential property-secured option investments (“Option Investments”) submitted to Selene by Point Digital Finance, LLC (the “Client”). The review was conducted February 26, 2026 through June 8, 2026 via files imaged and provided for review (the “Review”).

Targeted Credit Sample Breakout

Title Lien Review

(3) Determination of the sample size and computation.

The Review was conducted with sample size criteria that has been communicated by the Client to Selene to be consistent with the criteria for the nationally recognized statistical ratings organizations identified in Item 3 of the ABS Due Diligence-15E (the “NRSRO(s)”).

(5) Origination of the assets and conformity to stated underwriting or credit extension guidelines, standards, criteria or other requirements: review and methodology.

Selene assessed the underwriting Guidelines and compared the documentation in each Option Investment against the stated Guidelines for adherence.

Selene was instructed to perform a review on a population totaling 4464 Option Investments (the “Securitization Population”).

Client Underwriting Guidelines - Point Underwriting Guidelines versions July 15^th, 2019; January 12^th, 2021; January 14^th, 2022; July 30^th, 2024; February 07, 2025; October 06, 2025. (collectively the “Guidelines”)

The Guidelines referenced above served as the benchmark for grading Option Investments with respect to credit, underwriting, property valuation and data integrity. Each Option Investment received an “initial” and a “final” grade. The “initial” grade was assigned during the initial review. The “final” grade considers additional information and supporting documentation that may have been provided by the originators to clear outstanding conditions. Selene’s grading is based on Selene’s independent assessment of all Guideline exceptions and compensating factors for each of the component reviews. Selene is providing a comprehensive analysis that includes initial grades, final grades and detailed commentary on the rationale for any changes in grades and sets forth compensating factors and waivers.

Selene examined the selected Option Investments with respect to the presence or absence of relevant documents and accuracy and completeness of data fields. Selene relied on the accuracy of information contained in each file provided to Selene by Client.

Underwriting Guideline Check

Selene reviewed the portfolio of Client’s Option Investments to determine if they appear to be in compliance with certain criteria in the underwriting Guidelines as provided by Client. The review requirements include homeowner equity, credit score, property type, lien position, occupancy, citizenship, and others as outlined below in Confirmatory Document Review.

Appraisal/BPO Review

Selene confirmed that (i) the subject property address is correct, (ii) all subject buildings included in the collateral are included in the Appraisal/BPO/AVM, (ii) the valuation is relevant for market conditions, (iii) the appraised value is accurately captured, and (iv) an additional property valuation, which may be based on an AVM or broker price opinion, is provided with a value no less than ten percent (10%) below the Appraised Value. To the extent any of the above appear to be incorrect, Selene informed Client as directed.

Property/Environmental Review

Selene reviewed available third-party reports and insurance documents that have been completed for the property to identify any potential property condition, environmental, seismic or flood concerns. The insurance documents in the file to be provided by the Client were reviewed for accuracy by property type and coverage requirements.

Confirmatory Data Review

Selene verified and validated the data tape elements provided including (i) Homeowner Characteristics, (ii) Contract, and (iii) Property Value categories with primary source documents to be provided in an electronic file room site by the Client under authorization by the Clients.

Confirmatory Document Review

Selene reviewed each Option Investment in imaged format as made available to Selene by Client under authorization by the Client. Selene reviewed and checked for the critical documents as identified in the second table below (the “Critical Documents”), present in said files and, where appropriate, confirmed Critical Documents have been properly executed and/or recorded in the file.

Title Lien Review

Selene ordered an Owner and Encumbrance report for 41.12% of all Option Investments with an effective date on or prior to June 11, 2024 (308 investments for 6.84% of Investment Balance).Selene reviewed the updated title reports to confirm the lien position as reflected on Clients’ data tape. Selene identified all associated issues including clouds, unreleased prior liens and delinquent taxes that may affect the lien position as reflected on Clients’ data tape and determined if relevant documents are provided to clear identified issues.

After review of the 636 Option Investments; 636 Option Investments had a rating grade of A, 0 Option Investments had a rating grade of B, 0 Option Investments had a rating grade of C, and 0 Option Investments had a rating grade of D.

A total of 636 Option Investments were reviewed for Data Integrity. Where applicable, twenty-seven data fields were reviewed for a total of 14,612 data points reviewed. The review revealed 0 total discrepancies for a 0.00% variance across 636 Option Investments.

THIRD PARTY REVIEW REPORTING DELIVERED

Selene furnished the following reports on this transaction:

DISCLAIMER

Selene did not review or test the Option Investments for compliance with any federal, state or local credit or consumer protection laws, including but not limited to those laws related to mortgage loans, consumer loans, or the servicing of mortgage or consumer debt. Client confirms and represents to Selene that as of the closing date of each of the Option Investments, the Option Investments are not mortgage loans or debt, and are therefore exempt from, and not within the scope of, or otherwise subject to, any federal, state or local laws.

Please be advised that Selene did not make a determination as to whether the Option Investments are subject to or comply with federal, state or local laws, constitutional provisions, regulations or ordinances. There can be no assurance that the Review uncovered all relevant factors relating to the origination of the Option Investments, their compliance with all applicable laws and regulations and the original appraisals relating to the mortgaged properties or uncovered all relevant factors that could affect the future performance of the Option Investments. Furthermore, the findings reached by Selene are dependent upon its receiving complete and accurate data regarding the Option Investments from the Client and other third parties upon which Selene is relying in reaching such findings.

Please be further advised that Selene does not employ personnel who are licensed to practice law in the various jurisdictions, and the findings set forth in the reports prepared by Selene do not constitute legal advice or opinions. They are recommendations or conclusions based on

information provided to Selene. Information contained in any Selene report related to the applicable statute of limitations for certain claims may not be accurate or reflect the most recent controlling case law.

All final decisions as to whether to purchase or enter into a transaction related to any individual Option Investments, any investment strategy and any legal conclusions, including the potential liability related to the purchase or other transaction involving any such Option Investment, shall be made solely by the Client, or other agreed upon party, that has engaged Selene to prepare its reports pursuant to its instructions and Guidelines. The Client, or other agreed upon party, acknowledges and agrees that the scoring models applied by Selene are designed to identify potential risk and the Client, or other agreed upon party, assumes sole responsibility for determining the suitability of the information for its particular use. Selene does not make any representation or warranty as to the value of any Option Investments that have been reviewed by Selene.