EDGAR ID

Customer Loan ID

Seller Loan ID

Investor Loan Number

Loan Exception ID

Exception ID

Exception Date

Exception Type

Exception Category

Exception Subcategory

15E Category

Exception

Exception Detail

Exception Information

Compensating Factors

Compensating Factor Information

Applying Party

Follow-up Comments

Cleared Date

Cured Date

Waived Date

Exception Level Grade

DBRS Initial Exception Rating

DBRS Final Exception Rating

Fitch Initial Exception Rating

Fitch Final Exception Rating

Kroll Initial Exception Rating

Kroll Final Exception Rating

Moody's Initial Exception Rating

Moody's Final Exception Rating

S&P Initial Exception Rating

S&P Final Exception Rating

Note Date

Property State

Occupancy

Purpose

Exception Remediation

Overall

Initial Loan Grade

Overall

Final Loan Grade

Credit

Initial Loan Grade

Credit

Final Loan Grade

Compliance

Initial Loan Grade

Compliance

Final Loan Grade

Property

Initial Loan Grade

Property

Final Loan Grade

Originator QM ATR Status

TPR QM ATR Status

Is Curable

PRET 2026-RPL3-100731    

XXX

XXX

31260712

XXX

     8/XX/2024  5:32:19 PM

Credit

Loan Package Documentation

Loan File

Incomplete File

(Missing Doc) Incomplete loan images/file

Loan is DSCR for which underwriting guidelines are required.

3

D

D

D

D

D

D

D

D

D

D

D

D

D

D

A

A

N/A

No

PRET 2026-RPL3-100970

XXX

XXX

33172956

XXX

4/XX/2020  6:57:23 PM

Credit

Property - Appraisal

Property Eligibility - Site and Utilities

Property - Appraisal

Subject property has environmental problems noted by appraiser or visible in the photos

Valuation Type: Appraisal / Valuation Report Date: 03/XX/2020

XXX has noted peeling paint, and a collapsed/hole in roof of covered patio that is deemed a health and safety issue.

Reviewer Comment (2020/XX/21): Appraisal noted hazard and cost to sure. Borrower has sufficient reserves for needed repairs.

 

 

Buyer Comment (2020/XX/17): Purchase transaction, no condition was set for repairs to be made.

 

Borrower is in the business of purchasing properties to maintain/rent. Cost to Cure has been estimated at $XXX by appraiser, this had no effect on loan approval.  Bank statements have been provided showing $XXX available funds, $XXX funds from borrower at closing, leaving more than $XXX available for borrower to make any necessary repairs, or desired improvements at their discretion. Please clear this exception.  Thank you.

 

4/XX/2020  1:08:15 PM

1

C

A

C

A

C

A

C

A

C

A

3/XX/2020

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

PRET 2026-RPL3-100971

XXX

XXX

33284617

XXX

4/XX/2025  1:39:20 PM

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: XX/XX/XXXX

Disaster End Date: XX/XX/XXXX

Disaster Name: XXX

Disaster Declaration Date: XX/XX/XXXX

The subject property is located in a FEMA disaster area. A post disaster inspection verifying there was no damage to the subject property is required.

1

C

C

C

C

C

C

C

C

C

C

6/XX/2022

FL

Investment

Refinance - Cash-out - Other

D

C

D

C

A

A

N/A

No

PRET 2026-RPL3-100971

XXX

XXX

33284631

XXX

4/XX/2025  1:39:20 PM

Credit

Missing Document

General

Missing Document

Missing Document: Cash-Out Utilization not provided

Signed letter from borrower disclosing cash-out purpose per guideline is not on file.

3

C

C

C

C

C

C

C

C

C

C

6/XX/2022

FL

Investment

Refinance - Cash-out - Other

D

C

D

C

A

A

N/A

No

PRET 2026-RPL3-100971

XXX

XXX

33278337

XXX

4/XX/2025  1:39:20 PM

Credit

Loan Package Documentation

Loan File

Incomplete File

(Missing Doc) Incomplete loan images/file

Business purpose loan.  No guidelines provided.

Reviewer Comment (2025/XX/17): Guidelines provided.

 

4/XX/2025  3:42:42 PM

1

D

A

D

A

D

A

D

A

D

A

6/XX/2022

FL

Investment

Refinance - Cash-out - Other

D

C

D

C

A

A

N/A

No

PRET 2026-RPL3-100976

XXX

XXX

33587865

XXX

6/XX/2025  6:35:27 PM

Credit

Loan Package Documentation

Government Documentation

Loan Package Documentation

FHA - Initial HUD Addendum to the Loan Application 92900-A was not provided within three days of the application date.

Disclosure: FHA - Initial HUD Addendum to the Loan Application 92900-A (Government Documents)

FHA - Initial HUD Addendum to the Loan Application 92900-A was not provided within three days of the application date.

2

B

B

B

B

B

B

B

B

B

B

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587877

XXX

6/XX/2025  6:35:27 PM

Credit

Document Error

General

Document Error

FHA - Informed Consumer Choice Disclosure was not provided to borrower within 3 business days of the loan application.

Disclosure: FHA - Informed Consumer Choice Disclosure (Government Documents)

FHA - Informed Consumer Choice Disclosure not provided to borrower within 3 business days of the loan application.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587879

XXX

6/XX/2025  6:35:27 PM

Credit

Loan Package Documentation

Government Documentation

Loan Package Documentation

FHA - Important Notice to Homebuyer (92900-B) was not provided within three days of the application date.

Disclosure: FHA - Important Notice to Homebuyer (92900-B) (Government Documents)

FHA - Important Notice to Homebuyer (92900-B) was not provided within three days of the application date.

2

B

B

B

B

B

B

B

B

B

B

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587880

XXX

6/XX/2025  6:35:27 PM

Credit

Loan Package Documentation

Government Documentation

Loan Package Documentation

Final HUD Addendum 92900-A is missing.

Disclosure: FHA - Final HUD Addendum to the Loan Application 92900-A (Government Documents)

Final HUD Addendum 92900-A is missing in file.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587886

XXX

6/XX/2025  6:35:27 PM

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Note Date:  07/XX/2024; Lien Position: 1

3

D

D

D

D

D

D

D

D

D

D

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587914

XXX

6/XX/2025  6:35:27 PM

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy Effective Date is after closing.

Hazard Insurance Policy Effective Date 09/XX/2024, Disbursement Date: 07/XX/2024

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587926

XXX

6/XX/2025  6:35:27 PM

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy Effective Date is after closing.

Hazard Insurance Policy Effective Date 09/XX/2024, Disbursement Date: 07/XX/2024

The Hazard Insurance Policy Effective Date is after the later of the note or transaction date.(Policy Effective Date 09/XX/2024 and the note date is 07/XX/2024).

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587932

XXX

6/XX/2025  6:35:27 PM

Credit

Disclosure

Missing Document

Disclosure

Mortgage Insurance Certificate and Mortgage Insurance Evidence are missing.

Mortgage Insurance Certificate and Mortgage Insurance Evidence are missing.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33587938

XXX

6/XX/2025  6:35:27 PM

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: XX/XX/XXXX

Disaster End Date: XX/XX/XXXX

Disaster Name: XXX

Disaster Declaration Date: XX/XX/XXXX

The subject property is located in a FEMA disaster area. A post disaster inspection verifying there was no damage to the subject property is required.

1

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588068

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

QM Employment History - Current Employment Documentation lacks Date Info

Qualified Mortgage (Dodd-Frank 2014): Missing Employment Dates to verify two years current employment. (XXX/15396856)

The documentation entered for this income source lacks sufficient date/duration information to verify the 2 year history as required by Appendix Q.

2

B

B

B

B

B

B

B

B

B

B

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588069

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Sole Proprietorship Income Documentation Test

Qualified Mortgage (Dodd-Frank 2014): Self-employed income documentation not sufficient (Sole Proprietorship). (XXX XXX/Schedule C)

One or more of the following documents is missing: 1) Most recent 2 yrs Signed and Dated Personal Tax returns (with Sched C); 2) Most recent YTD quarterly P&L Statement.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588070

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. (Type:Primary/04/XX/2024)

No evidence that borrower received a copy of appraisal at least 3 business days to closing.

2

B

B

B

B

B

B

B

B

B

B

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588072

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

HUD QM AU Finding Fail

HUD Qualified Mortgage (Dodd-Frank 2014): Subject loan is not eligible to be insured or guaranteed by FHA.

Subject loan is not eligible to be insured or guaranteed by FHA.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588073

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Schedule C Test

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current Sole Proprietorship status using reasonably reliable third-party records. (XXX XXX/Schedule C)

One or more of the following missing documents is required for this employment type: 1) Third Party Verification; 2) CPA Letter; 3) Audited or Third Party Prepared YTD P&L; 4) Most recent transcript or signed/dated tax return (tax year end date no more than 120 days prior to Note Date); 5) Other document where "Reliable Third Party Source Employment" is checked; 6) 1099

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588074

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both significantly exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 55.88386% significantly exceeds the guideline maximum of 50.00%. (DTI Exception requires compelling compensating factors to consider regrading to EV2-B.)

The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 56.86320% significantly exceeds the guideline maximum of 50.00%.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588076

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - QM

Qualified Mortgage (Dodd-Frank 2014): Originator Loan Designation of HUD Safe Harbor QM does not match Due Diligence Loan Designation of ATR Fail.

Originator Loan Designation of HUD Safe Harbor QM does not match Due Diligence Loan Designation of ATR Fail.

3

B

B

C

C

B

B

C

C

B

B

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM status

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

Yes

PRET 2026-RPL3-100976

XXX

XXX

33588077

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

QM DTI

Qualified Mortgage (Dodd-Frank 2014): Total Debt to Income Ratio exceeds 43% and the images do not provide evidence loan is eligible for purchase, guarantee or insurance by the appropriate agency.

Total Debt to Income Ratio exceeds 43% and the images do not provide evidence loan is eligible for purchase, guarantee or insurance by the appropriate agency.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588098

XXX

6/XX/2025  6:35:27 PM

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of 55.88386% exceeds Guideline total debt ratio of 50.00000%.

Calculated investor qualifying total debt ratio of 55.88386% exceeds Guideline total debt ratio of 50.00000%.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588099

XXX

6/XX/2025  6:35:27 PM

Credit

Guideline

Guideline Issue

Guideline

LTV or CLTV exceeds maximum of 80% for the Refi Purpose.

LTV: XX.XX%; CLTV: XX.XX%

LTV or CLTV exceeds maximum of 80% for the Refi Purpose.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100976

XXX

XXX

33588144

XXX

6/XX/2025  6:35:27 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Loan does not meet one or more guideline components which could impact the borrower's ability to repay.

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Based on the loan failing one or more guideline components, the loan is at ATR risk.

3

C

C

C

C

C

C

C

C

C

C

7/XX/2024

FL

Primary

Refinance - Cash-out - Other

D

D

C

C

C

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34114380

XXX

8/XX/2025  7:01:22 PM

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Note Date:  10/XX/2024; Lien Position: 1

3

D

D

D

D

D

D

D

D

D

D

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34114463

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - S-Corp Test

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current S-Corp status due to missing Tax Return/Transcript for the most recent year, and one of these docs is required yet missing:  Audited/Third Party P&L, CPA Letter, or other Third Party Verification. (XXX XXX/S-Corp)

The file is missing a third party verification of business existence, causing the loan to waterfall to QM Testing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34114464

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - W-2

Ability to Repay (Dodd-Frank 2014): Unable to verify current Wages/W-2 employment status using reasonably reliable third-party records. (XXX XXX/Wages)

The file is missing a third party verification of business existence, causing the loan to waterfall to QM Testing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34114466

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - QM

Qualified Mortgage (Dodd-Frank 2014): Originator Loan Designation of HUD Safe Harbor QM does not match Due Diligence Loan Designation of ATR Fail.

The file is missing income documents required per the AUS approval, causing the loan to waterfall to QM Testing.

3

B

B

C

C

B

B

C

C

B

B

10/XX/2024

FL

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM status

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

Yes

PRET 2026-RPL3-100961

XXX

XXX

34114526

XXX

8/XX/2025  7:01:22 PM

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: XX/XX/XXXX

Disaster End Date: XX/XX/XXXX

Disaster Name: XXX

Disaster Declaration Date: XX/XX/XXXX

1

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34114533

XXX

8/XX/2025  7:01:22 PM

Credit

Disclosure

Missing Document

Disclosure

Mortgage Insurance Certificate and Mortgage Insurance Evidence are missing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115184

XXX

8/XX/2025  7:01:22 PM

Credit

Asset

Document Error

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  $XXX is less than Cash From Borrower $XXX.

Documented assets in file are insufficient to cover cash from borrower per AUS.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115544

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

QM Employment History

Qualified Mortgage (Dodd-Frank 2014): Employment history requirement not met. (XXX/15628709)

The file is missing income documents required by the AUS approval, causing the loan to waterfall through the QM Testing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115545

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

QM Employment History - Current Employment Documentation lacks Date Info

Qualified Mortgage (Dodd-Frank 2014): Missing Employment Dates to verify two years current employment. (XXX/15628708)

The file is missing income documents required by the AUS approval, causing the loan to waterfall to QM Testing.

2

B

B

B

B

B

B

B

B

B

B

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115546

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

S-Corp Income Documentation Test

Qualified Mortgage (Dodd-Frank 2014): Self-employed income documentation not sufficient (S-Corp). (XXX XXX/S-Corp)

The file is missing a business license, causing the loan to waterfall to QM Testing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115548

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

HUD QM AU Finding Fail

HUD Qualified Mortgage (Dodd-Frank 2014): Subject loan is not eligible to be insured or guaranteed by FHA.

The file is missing income documents required by the AUS approval, causing the loan to waterfall to QM Testing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115549

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The file is missing income documents required per the AUS approval, causing the loan to waterfall to QM Testing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115550

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

QM DTI

Qualified Mortgage (Dodd-Frank 2014): Total Debt to Income Ratio exceeds 43% and the images do not provide evidence loan is eligible for purchase, guarantee or insurance by the appropriate agency.

DTI exceeds guideline requirements due to missing documents (W2, business license, child support) to sustain income calculation.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115607

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Loan does not meet one or more guideline components which could impact the borrower's ability to repay.

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The file is missing income documents required by the AUS approval, causing the loan to waterfall to QM Testing.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34120597

XXX

8/XX/2025  7:01:22 PM

Credit

Hazard Insurance

Document Error

Hazard Insurance

Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.

Mortgagee clause is incorrect. Lender is not XXX, but XXX.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34120892

XXX

8/XX/2025  7:01:22 PM

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: XXX Third Party Verification

Reviewer Comment (2025/XX/07): EXCEPTION HISTORY - Exception Explanation was updated on 08/XX/2025 PRIOR Exception Explanation: Business License

 

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34124828

XXX

8/XX/2025  7:01:22 PM

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Business license is missing for XXX to verify existence of employment.

3

C

C

C

C

C

C

C

C

C

C

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

33815676

XXX

8/XX/2025  7:01:22 PM

Compliance

Loan Package Documentation

Loan File

Incomplete File

(Missing Doc) Incomplete loan images/file

The file is missing one or more of the core documents required for a review.  Please provide a Note, Security Instrument, an initial 1003, final 1003, an AUS, Approval or 1008, income verification, asset verification, an origination credit report, and all issued LE's and CD's.

Reviewer Comment (2025/XX/31): Exception cleared.  Sufficient documentation has been provided for initial review.

 

7/XX/2025  12:11:01 PM

1

D

A

D

A

D

A

D

A

D

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34114467

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

HUD QM Points and Fees

HUD Qualified Mortgage (Dodd Frank 2014): Points and Fees on subject loan of 4.68789% is in excess of the allowable maximum of  3.00000% of the Total Loan Amount. Points and Fees total $XXX on a Total Loan Amount of $XXX vs. an allowable total of $XXX (an overage of $XXX or 1.68789%).

Points and Fees on subject loan of 4.68789% is in excess of the allowable maximum of  3.00000% of the Total Loan Amount. Points and Fees total $XXX on a Total Loan Amount of $XXX vs. an allowable total of $XXX (an overage of $XXX or 1.68789%).

Reviewer Comment (2025/XX/07): Applied the Discount points and the price

 

8/XX/2025  9:24:16 AM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

HUD QM points and fees exceptions are not curable. HUD stated that it could not adopt the 1026.43 points and fees cure for a variety of reasons.

See HUD's Qualified Mortgage Rule: Announcement of Intention To Adopt Changes Pertaining to Exempted Transaction List Published 11/XX/2014.

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34114468

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $XXX exceeds tolerance of $XXX.  Insufficient or no cure was provided to the borrower. (7506)

Appraisal Fee was added on 10/XX/24 without a valid a change in circumstance. Cure was not provided at closing.

Reviewer Comment (2025/XX/07): Cleared with the coc provided.

 

8/XX/2025  9:24:16 AM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

Yes

PRET 2026-RPL3-100961

XXX

XXX

34114470

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $XXX exceeds tolerance of $XXX.  Insufficient or no cure was provided to the borrower. (8304)

Transfer Tax increased without a valid change in circumstance. Cure was not provided at closing.

Reviewer Comment (2025/XX/07): Cleared with the coc provided.

 

8/XX/2025  9:24:16 AM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

Yes

PRET 2026-RPL3-100961

XXX

XXX

34115540

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Alimony Child Support Maintenance Income

Qualified Mortgage (Dodd-Frank 2014): Alimony/Child Support/Maintenance income verification requirement not met. (XXX XXX/Child Support)

Child Support Documentation is missing from the file.

Reviewer Comment (2025/XX/07): Exception cleared.  Child Support verified as required.

 

8/XX/2025  12:47:40 PM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115541

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income Method of Calculation

Qualified Mortgage (Dodd-Frank 2014): The Method used to calculate the qualifying monthly income is not supported by the earnings history/trend. (XXX XXX/S-Corp)

The file is missing a business license, causing the loan to waterfall to QM Testing.

Reviewer Comment (2025/XX/07): Exception cleared.  Borrower went from Sole Proprietor in 2022 to SCorp in 2023 in the same business.

 

8/XX/2025  12:32:25 PM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115547

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Sole Proprietorship Income Documentation Test

Qualified Mortgage (Dodd-Frank 2014): Self-employed income documentation not sufficient (Sole Proprietorship). (XXX XXX/Schedule C)

The file is missing a business license, causing the loan to waterfall to QM Testing.

Reviewer Comment (2025/XX/07): Exception cleared.  Borrower went from Sole Proprietor in 2022 to SCorp in 2023 in the same business.

 

8/XX/2025  12:32:25 PM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115551

XXX

8/XX/2025  7:01:22 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

QM Points and Fees 2021

Qualified Mortgage (Dodd Frank 2014): Points and Fees on subject loan of 4.68789% is in excess of the allowable maximum of  3.00000% of the Total Loan Amount. Points and Fees total $XXX on a Total Loan Amount of $XXX vs. an allowable total of $XXX (an overage of $XXX or 1.68789%).

Points and Fees on subject loan of 4.68789% is in excess of the allowable maximum of 3.00000% of the Total Loan Amount. Points and Fees total $XXX on a Total Loan Amount of $XXX vs. an allowable total of $XXX.

Reviewer Comment (2025/XX/07): Applied the Discount points and the price

 

8/XX/2025  9:24:16 AM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100961

XXX

XXX

34115568

XXX

8/XX/2025  7:01:22 PM

Credit

Income

Document Error

Income

Proof of Child Age not provided.

Borrower: XXX // Employment Type: Non-Employment Income / Income Type: Child Support / Start Date: 11/XX/2021

Child Support documentation is missing from the file.

Reviewer Comment (2025/XX/07): Exception cleared.  Child Support verified as required.

 

8/XX/2025  12:50:43 PM

1

C

A

C

A

C

A

C

A

C

A

10/XX/2024

FL

Primary

Refinance - Rate/Term

D

D

C

C

D

C

D

D

HUD Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100988

XXX

XXX

33879877

XXX

7/XX/2025  9:41:01 PM

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: XX/XX/XXXX

Disaster End Date: XX/XX/XXXX

Disaster Name: XXX

Disaster Declaration Date: XX/XX/XXXX

1

C

C

C

C

C

C

C

C

C

C

9/XX/2024

FL

Primary

Purchase

C

C

C

C

C

C

A

A

Non QM

ATR Fail

No

PRET 2026-RPL3-100988

XXX

XXX

33879907

XXX

7/XX/2025  9:41:01 PM

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  $XXX is less than Cash From Borrower $XXX.

3

C

C

C

C

C

C

C

C

C

C

9/XX/2024

FL

Primary

Purchase

C

C

C

C

C

C

A

A

Non QM

ATR Fail

No

PRET 2026-RPL3-100988

XXX

XXX

33879992

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. (Type:Primary/08/XX/2024)

2

B

B

B

B

B

B

B

B

B

B

9/XX/2024

FL

Primary

Purchase

C

C

C

C

C

C

A

A

Non QM

ATR Fail

No

PRET 2026-RPL3-100988

XXX

XXX

33879993

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

FACTA

Federal FACTA Disclosure Timing Test

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure within a reasonably practicable time after using credit score.

1

B

B

B

B

B

B

B

B

B

B

9/XX/2024

FL

Primary

Purchase

C

C

C

C

C

C

A

A

Non QM

ATR Fail

No

PRET 2026-RPL3-100988

XXX

XXX

33879994

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Schedule C Test

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current Sole Proprietorship status using reasonably reliable third-party records. (XXX XXX/Schedule C)

3

C

C

C

C

C

C

C

C

C

C

9/XX/2024

FL

Primary

Purchase

C

C

C

C

C

C

A

A

Non QM

ATR Fail

No

PRET 2026-RPL3-100988

XXX

XXX

33880000

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Originator Loan Designation entered (1003 screen) does not match the calculated Due Diligence Loan Designation (Compliance screen).

3

B

B

C

C

B

B

C

C

B

B

9/XX/2024

FL

Primary

Purchase

Lender to provide updated ATR/QM status

C

C

C

C

C

C

A

A

Non QM

ATR Fail

Yes

PRET 2026-RPL3-100989

XXX

XXX

33842115

XXX

7/XX/2025  9:41:01 PM

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: Property is located in a FEMA Disaster area and has not been inspected.

Disaster Name: XXX

Disaster Declaration Date: XX/XX/XXXX

Disaster End Date:  XX/XX/XXXX

The subject property is located in a FEMA disaster area. A post disaster inspection verifying there was no damage to the subject property is required

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842149

XXX

7/XX/2025  9:41:01 PM

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Appraisal is missing. Sec ID: 1

Note Date:  05/XX/2024; Lien Position: 1

3

D

D

D

D

D

D

D

D

D

D

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842155

XXX

7/XX/2025  9:41:01 PM

Credit

Document Error

General

Document Error

VA - Lender Loan Quality Certification was not provided.

Disclosure: VA - Lender Loan Quality Certification (Government Documents)

VA - Lender Loan Quality Certification is not provided.

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842157

XXX

7/XX/2025  9:41:01 PM

Credit

Loan Package Documentation

Government Documentation

Loan Package Documentation

Federal Collection Policy is missing.

Disclosure: VA - Federal Collection Policy (Government Documents)

VA - Federal Collection Policy is not provided

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842164

XXX

7/XX/2025  9:41:01 PM

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Note is not on a FNMA/FHLMC form and does not contain the standard Due on Sale clause.

Note is not on a FNMA/FHLMC form.

2

B

B

B

B

B

B

B

B

B

B

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842175

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

No Income Provided

Qualified Mortgage (Dodd-Frank 2014):  No income was provided to demonstrate compliance with Appendix Q requirements.

VA-IRRR No income and No ratio loan

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842177

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay - Missing Investor Guideline Qualifying Total Debt Ratio

Unable to complete ATR testing due to missing investor guideline qualifying total debt ratio.

VA-IRRR No income and No ratio loan

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842178

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - No Income Provided

Ability to Repay (Dodd-Frank 2014): No income or assets converted to a monthly amount was provided to demonstrate ability to repay.

VA-IRRR No income and No ratio loan

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842180

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - QM

Qualified Mortgage (Dodd-Frank 2014): Originator Loan Designation of VA Safe Harbor QM does not match Due Diligence Loan Designation of ATR Fail.

VA-IRRR No income and No ratio loan

3

B

B

C

C

B

B

C

C

B

B

5/XX/2024

LA

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM status

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

Yes

PRET 2026-RPL3-100989

XXX

XXX

33842181

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

QM DTI

Unable to determine compliance with QM Total Debt Ratio requirements due to missing QM Total Debt Ratio information.

VA-IRRR No income and No ratio loan

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842188

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $XXX exceeds tolerance of $XXX.  Insufficient or no cure was provided to the borrower. (7200)

Loan Discount Points Fee increased on 05/XX/2024  Closing Disclosure with no valid change evident.

2

B

B

B

B

B

B

B

B

B

B

5/XX/2024

LA

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

Yes

PRET 2026-RPL3-100989

XXX

XXX

33842190

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - Affiliated Business Arrangement Disclosure Not Provided Within 3 Business Days of Application

RESPA Disclosure Rule: Creditor did not provide Affiliated Business Arrangement Disclosure to applicant within three (3) business days of application.

Application date is 04/XX/2024 and the disclosure is dated 05/XX/2024.

2

B

B

B

B

B

B

B

B

B

B

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33842206

XXX

7/XX/2025  9:41:01 PM

Credit

Guideline

Guideline Issue

Guideline

The Lender Disclosed Recoupment Months is not equal to the Calculated Fees Recouped Months. Documentation of the re-disclosure to the borrower of the correct calculated fees are required.

Lender Disclosed Recoupment Months: 48;

Calculated Recoupment Months: 16

The Lender Disclosed Recoupment 48 Months is not equal to the Calculated Fees Recouped 16 Months

2

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33865243

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

VA Unverified Income IRRRL Cash Out at Closing

VA Qualified Mortgage (Dodd-Frank 2014) – This IRRRL loan with unverified income contains cash out at closing less than $XXX.

2

B

B

B

B

B

B

B

B

B

B

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33865244

XXX

7/XX/2025  9:41:01 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

VA Unverified Income IRRRL Fail Test

Unable to determine compliance with VA QM unverified income IRRRL requirements due to missing information.

3

C

C

C

C

C

C

C

C

C

C

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100989

XXX

XXX

33865393

XXX

7/XX/2025  9:41:01 PM

Credit

Document Error

General

Document Error

VA - Veteran's Statement - Initial was not provided to the veteran within 3 business days of application.

Disclosure: VA - Veteran's Statement - Initial (Government Documents) Disclosure Date: 05/XX/2024;

Application Date:

3

B

B

B

B

B

B

B

B

B

B

5/XX/2024

LA

Primary

Refinance - Rate/Term

D

D

C

C

C

C

D

D

VA Safe Harbor QM

ATR Fail

No

PRET 2026-RPL3-100962

XXX

XXX

33828295

XXX

7/XX/2025  7:00:07 PM

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Purchase Agreement / Sales Contract not provided

Purchase Agreement is missing in file.

3

D

D

D

D

D

D

D

D

D

D

9/XX/2024

CA

Primary

Purchase

D

D

D

D

A

A

A

A

Non QM

Non QM

No

PRET 2026-RPL3-100962

XXX

XXX

33828606

XXX

7/XX/2025  7:00:07 PM

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: XX/XX/XXXX

Disaster End Date: XX/XX/XXXX

Disaster Name: XXX

Disaster Declaration Date: XX/XX/XXXX

The property is located in a FEMA disaster area.  Provide a post-disaster inspection verifying there was no damage.  The inspection must include exterior photos and the property must be re-inspected on or after XX/XX/XXXX declared end date.

1

C

C

C

C

C

C

C

C

C

C

9/XX/2024

CA

Primary

Purchase

D

D

D

D

A

A

A

A

Non QM

Non QM

No

PRET 2026-RPL3-100983

XXX

XXX

33829240

XXX

7/XX/2025  7:00:07 PM

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Note Date:  02/XX/2025; Lien Position: 1

3

D

D

D

D

D

D

D

D

D

D

2/XX/2025

FL

Primary

Purchase

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33829384

XXX

7/XX/2025  7:00:07 PM

Credit

Disclosure

Missing Document

Disclosure

CAIVRS Authorization is missing.

Disclosure: CAIVRS Authorization (Government Documents)

Caivrs not provided

3

C

C

C

C

C

C

C

C

C

C

2/XX/2025

FL

Primary

Purchase

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33829404

XXX

7/XX/2025  7:00:07 PM

Credit

Loan Package Documentation

Government Documentation

Loan Package Documentation

FHA MIP Error (Borrower Paid):

Date Issued: 02/XX/2025 Calculated FHA upfront premium of $XXX   does not match the mortgage insurance premium collected on the Closing Disclosure of .

3

C

C

C

C

C

C

C

C

C

C

2/XX/2025

FL

Primary

Purchase

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33829419

XXX

7/XX/2025  7:00:07 PM

Credit

Loan Package Documentation

Government Documentation

Loan Package Documentation

FHA - Final HUD Addendum to the Loan Application 92900-A is not compliant.

Disclosure: FHA - Final HUD Addendum to the Loan Application 92900-A (Government Documents)

Not signed by lender

3

C

C

C

C

C

C

C

C

C

C

2/XX/2025

FL

Primary

Purchase

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33829439

XXX

7/XX/2025  7:00:07 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Additional 3-Day Waiting Period Timing Test – Irregular Transaction

TILA-RESPA Integrated Disclosure – Most recent Closing Disclosure received at least 3 days prior to closing dated 02/XX/2025 disclosed an inaccurate APR of 4.57600% compared to the actual APR at consummation of 5.08051% and a revised CD disclosing an accurate APR was not received by borrower at least three (3) business days prior to consummation

2

C

B

C

B

C

B

C

B

C

B

2/XX/2025

FL

Primary

Purchase

TRID timing exception, no remediation available.

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33829440

XXX

7/XX/2025  7:00:07 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on 02/XX/2025 disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $XXX is under disclosed by $XXX compared to the calculated Finance Charge of $XXX which exceeds the $XXX threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated 02/XX/2025). (Final/XX/20/2025)

Final closing disclosure dated 02/XX/2025 disclosed a Total of payments of $XXX  .  The calculated finance charge is $XXX creating a variance of $XXX  .

2

C

B

C

B

C

B

C

B

C

B

2/XX/2025

FL

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission (required on rescindable transactions)

D

D

C

C

C

C

D

D

Non QM

ATR Fail

Yes

PRET 2026-RPL3-100983

XXX

XXX

33829441

XXX

7/XX/2025  7:00:07 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Total Of Payments

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on 02/XX/2025 disclosed an inaccurate Total of Payments on page 5 that does not match the actual total of payments for the loan (fee amounts included in TOP calculation are based on Closing Disclosure dated 02/XX/2025).  The disclosed Total of Payments in the amount of $XXX is under disclosed by $XXX compared to the calculated total of payments of $XXX which exceeds the $XXX threshold. (Final/XX/20/2025)

Final closing disclosure dated 02/XX/2025 disclosed a Total of payments of $XXX .  The calculated finance charge is $XXX creating a variance of $XXX .

2

C

B

C

B

C

B

C

B

C

B

2/XX/2025

FL

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission (required on rescindable transactions)

D

D

C

C

C

C

D

D

Non QM

ATR Fail

Yes

PRET 2026-RPL3-100983

XXX

XXX

33829455

XXX

7/XX/2025  7:00:07 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Mortgage Insurance Payment

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on 02/XX/2025 disclosed a mortgage insurance payment for payment stream 1 that does not match the actual payment for the loan. (ProjSeq:1/2856179)

Mortgage insurance not captured in closing disclosure

2

C

B

C

B

C

B

C

B

C

B

2/XX/2025

FL

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

D

D

C

C

C

C

D

D

Non QM

ATR Fail

Yes

PRET 2026-RPL3-100983

XXX

XXX

33829459

XXX

7/XX/2025  7:00:07 PM

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure APR Irregular Transaction

TILA-RESPA Integrated Disclosure - Loan Calculations:  APR of 4.38400% on Final Closing Disclosure provided on 02/XX/2025 is under-disclosed from the calculated APR of XX.XX% outside of 0.250% tolerance. (Final/XX/20/2025)

Clarity calculated APR exceeds threshold of APR XX.XX%

2

C

B

C

B

C

B

C

B

C

B

2/XX/2025

FL

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission if Applicable

D

D

C

C

C

C

D

D

Non QM

ATR Fail

Yes

PRET 2026-RPL3-100983

XXX

XXX

33829461

XXX

7/XX/2025  7:00:07 PM

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

AUS Findings: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of 98.93117% exceeds AUS total debt ratio of 54.34000%.

Second home PITI is not considered by UW, no proof is provided to exclude the debt

3

C

C

C

C

C

C

C

C

C

C

2/XX/2025

FL

Primary

Purchase

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33829462

XXX

7/XX/2025  7:00:07 PM

Credit

Income / Employment

Income Documentation

Income / Employment

The verification of employment is not within 10 business days of the Note.

Borrower: XXX // Employment Type: Employment / Income Type: Wages / Start Date: 01/XX/2025

3

C

C

C

C

C

C

C

C

C

C

2/XX/2025

FL

Primary

Purchase

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33855502

XXX

7/XX/2025  7:00:07 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

The AUS provided shows a result of Refer/Eligible.  However, the Transmittal Summary reflects DU approved.  The final DU findings showing Approve/Eliglble are required.

3

B

B

C

C

B

B

C

C

B

B

2/XX/2025

FL

Primary

Purchase

Lender to provide updated ATR/QM status

D

D

C

C

C

C

D

D

Non QM

ATR Fail

Yes

PRET 2026-RPL3-100983

XXX

XXX

33855503

XXX

7/XX/2025  7:00:07 PM

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay - Missing Investor Guideline Qualifying Total Debt Ratio

Unable to complete ATR testing due to missing investor guideline qualifying total debt ratio.

The AUS provided shows a result of Refer/Eligible.  However, the Transmittal Summary reflects DU approved.  The final DU findings showing Approve/Eliglble are required.

3

C

C

C

C

C

C

C

C

C

C

2/XX/2025

FL

Primary

Purchase

D

D

C

C

C

C

D

D

Non QM

ATR Fail

No

PRET 2026-RPL3-100983

XXX

XXX

33855504