MORGAN STANLEY CAPITAL I INC. ABS-15G

Exhibit 99.4 - Schedule 2

 

Client Name:      
Client Project Name:    MSRM 2026-NQM8    
Start - End Dates: 12/5/2025 - 4/24/2026    
Deal Loan Count: 107    
             
Conditions Report 2.0    
             
Loans in Report: 107    
Loans with Conditions: 59    
             
22 - Total Active Conditions
  22 - Non-Material Conditions
      22 - Credit Review Scope
        2 - Category: Ability to Repay/Qualified Mortgage
        1 - Category: Assets
        10 - Category: Credit/Mtg History
        2 - Category: LTV/CLTV
        7 - Category: Terms/Guidelines
61 - Total Satisfied Conditions
             
      38 - Credit Review Scope
        3 - Category: Application
        1 - Category: Assets
        1 - Category: Credit/Mtg History
        1 - Category: DTI
        2 - Category: Income/Employment
        1 - Category: Insurance
        24 - Category: Legal Documents
        5 - Category: Title
      12 - Property Valuations Review Scope
        4 - Category: Appraisal
        6 - Category: Property
        2 - Category: Value
      11 - Compliance Review Scope
        4 - Category: Ability to Repay/Qualified Mortgage
        7 - Category: TILA/RESPA Integrated Disclosure
3 - Total Waived Conditions
             
      2 - Credit Review Scope
        1 - Category: Income/Employment
        1 - Category: Terms/Guidelines
      1 - Property Valuations Review Scope
        1 - Category: Appraisal
             
 




©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited. 
 

 

 
 
Client Name:                                                                    
Client Project Name: MSRM 2026-NQM8                                                                  
Start - End Dates: 12/5/2025 - 4/24/2026                                                                  
Deal Loan Count: 107                                                                  
                                                                         
Conditions Report 2.0                                                                  
                                                                         
Loans in Report: 107                                                                  
Loans with Conditions: 59                                                                  
                                                                         
Loan Number Original Principal Balance State Initial Lender ATR/QM Status Loan Level ATR/QM Status Initial Securitization Overall Loan Grade Final Securitization Overall Loan Grade Initial Securitization Credit Loan Grade Final Securitization Credit Loan Grade Initial Securitization Property Valuations Loan Grade Final Securitization Property Valuations Loan Grade Initial Securitization Compliance Loan Grade Final Securitization Compliance Loan Grade Initial S&P Overall Loan Grade Final S&P Overall Loan Grade Initial S&P Credit Loan Grade Final S&P Credit Loan Grade Initial S&P Property Valuations Loan Grade Final S&P Property Valuations Loan Grade Initial S&P Compliance Loan Grade Final S&P Compliance Loan Grade Condition Category Condition Sub Category Condition Status Initial Securitization Condition Grade Final Securitization Condition Grade Initial S&P Condition Grade Final S&P Condition Grade Condition Code Condition Description Condition Material Indicator Initial Comments Client/Seller Response Comments Conclusion Comments TRID Error Type Cure Method Compensating Factors
10284740 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors A A A A A A A A A A A A A A A A                               CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has 4.07% revolving credit utilization.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  781 FICO is 101 points above the minimum required of 680.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves of 155.19 months PITIA is 149.19 months greater than the 6 months reserves required.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  7.02% DTI is below program max allowable of 50%.
10284714 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrower has positive mortgage payment history reported on credit report 0X30/ 0X60/ 0X90.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  767 qualifying score is 107 points > 660 requirement.
10284719 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1739: Positive mortgage payment history
- XXX Comments:  0x30x44 - housing history

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  The borrower has 12.94 months in reserves
10284721 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors D A D A A A A A D A D A A A A A Credit DTI Satisfied D A D A CRDDTI2540 Missing verification of some or all components of non-subject PITI No The loan file does not contain mortgage statements to verify full PITI for XXX (No Data) Documentation provided to cure. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  The fico score of 772 exceeds min score of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  284.92 months of reserves exceed guideline requirement of 6 months.
10284722 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves of 12.79 months PITIA is 6.79 months greater than the 6 months reserves required.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  31.85% DTI is below program max of 50%.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  719 FICO is 59 points above the minimum required of 660.
10284744 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors B B B B A A A A B B B B A A A A Credit Income/Employment Waived B B B B CRDINC126 Length of employment/self-employment does not meet guidelines No The borrower has been XXX for less than 2 years because she was not a XXX. Previously XXX in XXX, previous license - business registration provided. An exception approval is in the file.  (No Data) An exception approval is in the file.  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves of 38.43 months PITIA is 32.43 months greater than the 6 months reserves required.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  Qualifying DTI (Back) of 17.55% is 32.45% below the 50% allowed.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO of 765 is 85 points above the 680 required.
10110827 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post closing reserves $XXX= 141.94 months;   0 months required."

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower is using only 33% of available credit

CFCFS2860: Good credit history
- XXX Comments:  Borrower has no history of late payments
10110915 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B A B A A A N/A N/A B A B A A A N/A N/A Credit Credit/Mtg History Satisfied B A B A CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement No The current mortgage not on credit report.  The loan originated XXX with an estimated first payment due XXX.  Please provide evidence of the payment of the XXX & XXX payments. 3-17-26:  Client emailed mortgage payment history. 3-17-26: XXX reviewed mortgage payment history, XXX and XXX payments verified.  Exception satisfied.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 791.  guideline minimum 700.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage payment history of 99+ months exceeds the required 12 months

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXXor 149.51 months. No reserves required.
10110832 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1736: Significant time at current residence
- XXX Comments:  Significant time at current residence 2 years renting.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 743 is above the required 700.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves= $XXX, 122.83 months. 3 months required.
10110835 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Application Satisfied D A D A CRDAPP155 Application Missing No The application in the file is for a different property. 3-10-26 Client uploaded 1003. 3-11-26 XXX reviewed 1003 and updated data. Exception satisfied.  (No Data) Not Applicable CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower is using 3% of the available revolving credit.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX or 9.55 months. No reserves required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Verified credit score 799.  Guideline minimum 700.
10110835 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1. 3-10-26 Client uploaded final HUD.  3-11-26 XXX reviewed  Final HUD and updated data. Exception satisfied.  (No Data) Not Applicable CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower is using 3% of the available revolving credit.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash reserves = $XXX or 9.55 months. No reserves required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Verified credit score 799.  Guideline minimum 700.
10110872 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL2420 Missing HUD-1 (Final and Estimated) No Please provide Final HUD-1. 3-16-26 Client uploaded final HUD. 3-17-26 XXX reviewed HUD and updated data. Exception satisfied.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of799 is above the required 740

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower has minimal use of credit with credit usage ratio of 3%

CFCFS1746: Significant housing expense reduction
- XXX Comments:  Borrower current PITI is $2436.89; Subject PITI is $1635.81. Monthly savings of $801.08
10110914 XXXXXX XXXXXX (No Data) ATR/QM: Exempt C B C B A A N/A N/A C B C B A A N/A N/A Credit Terms/Guidelines Active C B C B CRDTER3122 Loan documents do not meet guideline requirements No HUD1 settlement statement lists payoff of $16,000 to XXX  The title commitment references a Memorandum of Purchase and Sale Agreement, copy of this agreement does not indicate any funds owed.  This debt appears to be an unrecorded lien which makes the transaction ineligible for rate term refinance.  Provide information that verifies the $16,000 paid to XXX is a lien filed on the title to the property to remain a rate term refinance per guidelines 1.4.1.2. 2-23-26 Client replied: GL 1.4.1.2 does not state the lien needs to reflect the LA amount. The mortgage is not considered an unrecorded lien since its reflecting on the prelim and final title policy attached shows it was satisfied with the $16k payoff. Uploaded FTP, please clear3-11-26 Client replied: Please see uploaded exception approval. 2-24-26 XXX reviewed the file and the uploaded title. Summary of findings: Subject submitted as a rate term refinance paying off XXX dated XXX with VOM reflecting PI payments of $XXX and a XXX dated XXX with no VOM and the payoff reflecting n/a for per diem rate and interest to date of closing. Guidelines (sec 1.4.1.2) states that a transaction must be treated as cash out when subject property is encumbered by a PIK loan. Provide satisfactory evidence with a copy of the note and cancelled checks reflecting that borrower made payments on this lien being paid off to qualify as a rate term refinance.  If considered a cash out an LTV exception will be required. Exception remains.  3-13-26 XXX reviewed post close exception to treat as a rate term refinance instead of a cash out per guidelines. XXX deems non-material/non-fatal to lending decision due to compensating factors: Credit score of 738/700 minimum, 0% credit usage and 25 months mortgage history with 0 x 30. Non-material exception remains.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 738 is 38 points above minimum program requirement of 700.

CFCFS5269: Minimal use of credit
- XXX Comments:  Borrower only using 0% of available revolving credit.

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrowers have25 months mortgage payment history 0x30.
10110923 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit LTV/CLTV Active B B B B CRDLTV3026 LTV Exceeds Guideline Requirement by at least 5%, but less than 10% No Transaction is considered as cash out, the loan is a Paid In Kind (PIK) loan with maximum LTV 75%, transaction closed at 80%.  VOM verifies no payments made, all is due lump sum at payoff.  XXX considers this as non material due to compensating factors, borrower has cash reserves 10.48 months with 3 required, credit score is 771, minimum required is 740, and borrower mortgage payment history has no late payments within past 42 months, 12 months required. 3-10-26 Client replied: HEM accepts B grade 3-11-26 Non-material exception remains.  (No Data) Not Applicable CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrowers have42 months mortgage payment history 0x30.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX, 10.48 months; 3 months required.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 771 is 31 points above minimum program requirement of 740.
10110863 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A C A N/A N/A D B D A C B N/A N/A Credit Assets Satisfied D A D A CRDAST2354 Asset Verification In File is Incomplete Per Requirements No Missing evidence of borrowers ownership in XXX to use XXX XXX account as an asset.9 months cash reserves ($46,067.04) is required due to less than 6 months ownership.  3-24-26 Please see uploaded By Laws for XXX 3-25-26 XXX reviewed By Laws reflecting XXX% ownership. Exception satisfied.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  786 FICO score is above the 700 min.

CFCFS2860: Good credit history
- XXX Comments:  No late payments on credit report.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  21.79 months of reserves are above the required 9.
10110863 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A C A N/A N/A D B D A C B N/A N/A Property Valuations Value Satisfied C A C B PRVAVALU5249 Property Value Not Supported No Field review provided with original file that supports value. Exception cancelled.  (No Data) Field review provided with original file that supports value. Exception cancelled.  Not Applicable Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  786 FICO score is above the 700 min.

CFCFS2860: Good credit history
- XXX Comments:  No late payments on credit report.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  21.79 months of reserves are above the required 9.
10101418 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 15.19 months PITI

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 795, minimum required by G/L is 620

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage has 97 months reporting 0X30
10101248 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1736: Significant time at current residence
- XXX Comments:  In residence 18 years.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- XXX Comments:  Borrower last delinquency 4/2020.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 701 exceeds guideline minimum of 700 for a DSCR purchase at 80% LTV.
10101384 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75 is below guideline requirement max of 80.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 782 exceeds guideline requirement of 680.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 77.56 months PITI reserve exceeds required reserves of ($XXX x XXX = $XXX).
10101226 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 740 exceed guideline requirement of 720.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 76.30 months PITI, exceeding guideline requirment.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has resided at current residence for approximately 20 years.
10101299 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 740, minimum required by G/L is 720

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 16.06 months PITIA

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 10 year credit history with 10 open and active tradelines 0X30
10101399 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A A A D A A A D A A A D A A A Property Valuations Property Satisfied D A D A PRVAPROP132 Missing HOA Certificate/Questionnaire No Missing Condo Questionnaire 12.29.25 no condo cert uploaded.1.7.2026-Client's response: XXX1.7.2026-XXX's response: Received the HOA Cert; exception satisfied.  12.29.25 exception remains. 1.7.2026-Exception satisfied. (No Data) Not Applicable CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  137+ Months reporting

CFCFS1737: LTV below guideline requirements
- XXX Comments:  Current LTV is 19.48% ...Max LTV is 75%
10101176 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A A A D A N/A N/A D A A A D A N/A N/A Property Valuations Appraisal Satisfied D A D A PRVAAPPR3116 Missing updated valuation No Missing CDA desk review to support original appraisal value or CU score of 2.5 or less. 1.13.2026-Client's response: XXXCU with a score of 1.2 provided. Please clear finding.1.13.2026-XXX's response: Received the CU with a score of 1.2, exception satisfied. 1.13.2026-Exception satisfied. (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  217+ Months reporting positive

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History, 217 months of 0x30 consumer credit history.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  51 Months Reserves

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  732 mid-score per CBR.
10101373 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets: $XXX - $XXX(Funds to Close) = $XXX/ $XXX(PITI + Flood) = 8.97 Months Reserves

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- XXX Comments:  Borrower does not have any major mortgage related occurrences
10101322 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1. 12.30.2025-Received the HUD1, exception satisfied. 12.30.2025-Exception satisfied. (No Data) Not Applicable CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  72+ Months reporting

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  25+ Months reporting positive
10101002 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors C B A A A A C B C B A A A A C B Compliance TILA/RESPA Integrated Disclosure Satisfied C B C B CMPTRID3670 TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation No Zero Tolerance Fee fail for $358.44.  Inspection fee of $200.00 and Rate Lock Ext Fee of $158.44 added on final CD.  No documentation provided disclosing addition of fees.  Please provide either documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure. 1.22.26-Client provided COCs, Satisfied. 1.22.26-Satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Assets of Cash out $91,748.49 + XXX Bank of $6257.83 = $XXX / 1294.01 = 75.74 months of post close reserves

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- XXX Comments:  Borrower does not have any major mortgage related occurrences
10101311 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Terms/Guidelines Active B B B B CRDTER5518 Loan fails XXX Minimum Equity requirement No Loan fails XXX minimum equity requirement of $XXX. Value $XXX- $XXX loan amount = $XXX equity. Credit exception in file. Upon further review by Sr. XXX UW, XXX deems this non-material due to the following compensating factors:  DSCR is 1.23 and rate/term will make less cash to close. (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves $XXX, or 6.70 months PITI exceed 3 month guideline requirement.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage payment history 0 x 30 past 48 months exceeds guideline requirement.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has resided at current residence for approximately 3.5 years.
10101499 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  48+ Months reporting positive

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  116+ Months reporting positive
10101252 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Terms/Guidelines Active B B B B CRDTER5518 Loan fails XXX Minimum Equity requirement No With a minimum equity of ($XXX - $XXX = $XXX), loan fails XXX Minimum Equity requirement. (No Data) (No Data) (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 762 exceeds guideline requirement of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 13.44 months PITI reserve exceeds required reserves of ($XXX x XXX = $XXX).

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower resides at their primary residence in excess of 10 years.
10101433 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL2864 Copy of Mortgage/Deed in file is incomplete No Please provide signed copy of Mortgage and all riders. 1.7.26 please find the dot and riders with sigs.1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 791 exceeds the minimum of 720

CFCFS2860: Good credit history
- XXX Comments:  2% revolving credit utilized

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Reserves $XXX, 18.09 months reserves, 3 months required

CFCFS1750: High potential for increased earnings
- XXX Comments:  DSCR: 1.4767 (Rent $5000 / Expenses $3385.92 )

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  204 months of 0x30 consumer credit history per CBR.
10101433 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL806 Notary Status is missing No Please provide notary page for mortgage. 1.7.26 please find the dot and riders with sigs.1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 791 exceeds the minimum of 720

CFCFS2860: Good credit history
- XXX Comments:  2% revolving credit utilized

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Reserves $XXX, 18.09 months reserves, 3 months required

CFCFS1750: High potential for increased earnings
- XXX Comments:  DSCR: 1.4767 (Rent $5000 / Expenses $3385.92 )

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  204 months of 0x30 consumer credit history per CBR.
10101227 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  228 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  108+ months reserves exceed guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.
10101329 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 58.93 is below guideline requirement max of 80.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 746 exceeds guideline requirement of 620.

CFCFS1746: Significant housing expense reduction
- XXX Comments:  Transaction results in a payment drop of $343.30 from $1,665.58 to $1,322.28, a significant housing expense reduction of 20.61%.
10101428 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 6 years.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  251 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  16 months reserves exceeds guidelines.
10101010 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 35.11 months. 6 months required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 80% is below guidelni0e maximum of 90% for an Alt Doc purchase with a 795 credit score.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 34.40% is below guideline maximum of 50%.
10101502 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1 12.17.25 FSS provided, please clear finding.12.17.25 exceptions satisfied  12.17.25 exceptions satisfied  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 741 exceeds guideline requirement of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 40.43 months PITI reserve exceed required reserves of ($XXX x XXX = $XXX).

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 45.08 is below guideline requirement max of 50.
10101296 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Credit/Mtg History Active B B B B CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement No Provide 12 months of canceled checks for the mortgage payments to XXX (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  File has 22 months in reserves.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has been at current residence for 5 years.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score is 691, min is 620.
10100953 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors C B A A A A C B C B A A A A C B Compliance TILA/RESPA Integrated Disclosure Satisfied C B C B CMPTRID3670 TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation No Zero tolerance fail of $6450 due to lender credit decrease on LE issued XXX. Provide COC for change OR PCCD, LOX, Copy of cure check, including proof of delivery via 3rd party label within 60 days of consummation. 1.7.26 please find the COC for review. 1.7.26 satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 38.53 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 740, minimum required by G/L is 680

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  The borrower has been XXX for over 4 years
10101313 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 26.06 months PITIA

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 14 year credit history with 24 open and active tradelines 0x30

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage is 28 months reporting with no lates
10101494 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1 1.2.26 FSS provided, please clear finding.1.2.26 exception satisfied  1.2.26 exception satisfied  (No Data) Not Applicable CFCFS1739: Positive mortgage payment history
- XXX Comments:  84 months of positive mortgage payments

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  verified cash reserves in the amount of $XXX  exceeds $XXX the minimum required per lender guidelines

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 46.40 is below 70.00% the maximum allowable per lender guidelines

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  84 months reviewed mortgage payment history exceeds 12 months the minimum required as per lender guidelines
10101487 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A A A D A A A D A A A D A A A Property Valuations Appraisal Satisfied D A D A PRVAAPPR275 Completed "Subject To" w/o Completion Cert in File No Missing final inspection for appraisal being subject to. 1.7.26 please find the 1004D1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 37.96%, max allowed by G/L is 80%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves, <=65% LTV non required. Post close reserves $XXX or 12.77 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 795, minimum required by G/L is 620
10101457 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  70.10 months of reserves exceeds guideline requirements of 0 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  30.5% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 766 > 146 points above guideline program minimum of 620.
10101199 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Terms/Guidelines Active B B B B CRDTER5518 Loan fails XXX Minimum Equity requirement No Does not meet Minimum Equity Guideline of $XXX....Current Eqity is $XXX.  Upon further review by Sr. XXX UW, XXX deems this non-material due to the following compensating factors:  Property is seasoned 12 months on XXX onthly payments, 8 years a present addres , never any derog and paying off hard money loan. (No Data) (No Data) (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  115+ Months reporting

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Demonstrates Positive Mortgage Payment History
10101253 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A A A D A N/A N/A D A A A D A N/A N/A Property Valuations Appraisal Satisfied D A D A PRVAAPPR3116 Missing updated valuation No CU Score 3.5 missing third party valuation to support value. 12.16.25 Desk review provided, please clear finding.12.16.25 exception satisfied  12.16.25 exception satisfied  (No Data) Not Applicable CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 4+ years.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  463 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  111+ months reserves exceeds guidelines.
10101279 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B B B D A N/A N/A D B B B D A N/A N/A Credit Terms/Guidelines Active B B B B CRDTER5518 Loan fails XXX Minimum Equity requirement No Subject Property $XXX Equity is less than the minimum $XXX equity requirements.  (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  79.78 months of reserves exceeds guideline requirements of 3 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score of 754 > 134 required guideline requirements of 620

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  49 months with 0x30 Mortgage payment history exceeds guidelines of 12 months.

CFCFS1736: Significant time at current residence
- XXX Comments:  6 years living at primary residence.
10101279 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B B B D A N/A N/A D B B B D A N/A N/A Property Valuations Property Satisfied D A D A PRVAPROP132 Missing HOA Certificate/Questionnaire No Missing Condo Questionnaire for XXX  Condominiums has not been uploaded by the Lender.  1.8.26 HOA questionnaire provided, please clear finding.1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  79.78 months of reserves exceeds guideline requirements of 3 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score of 754 > 134 required guideline requirements of 620

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  49 months with 0x30 Mortgage payment history exceeds guidelines of 12 months.

CFCFS1736: Significant time at current residence
- XXX Comments:  6 years living at primary residence.
10101504 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1 1.7.26 please find the FSS for review.1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  84+ Months reporting positive

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  373+ Months reporting positive

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History
10101505 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Legal Documents Satisfied D A D A CRDLGL1817 Final HUD-1 is incomplete or illegible No Final Hud-1 Settlement and Disbursement Dates have not been entered.  1.6.25 FSS for review.1.7.25 exception satisfied  1.7.25 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  14.16 months of reserves exceeds guideline requirements of 3 months.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 46.34% is above the minimum program requirements of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 727 > 107 points above guideline program minimum of 620.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  441 months of 0x30 consumer credit history per CBR.
10101505 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Title Satisfied D A D A CRDTIL865 Title incomplete No Missing Title policy for the Subject Property. File only contained a supplement prelim report.  1.6.26 prelim for review.1.7.26 exception satisfied  1.7.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  14.16 months of reserves exceeds guideline requirements of 3 months.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 46.34% is above the minimum program requirements of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 727 > 107 points above guideline program minimum of 620.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  441 months of 0x30 consumer credit history per CBR.
10101396 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1. 1.16.2026-Client's response:XXXFSS provided, please clear finding.1.16.2026-XXX's response-Received the final HUD1, exception is satisfied. 1.16.2026-Exception satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 55.82 months. 3 months required.

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrower has never been 1X30 with history from 9/2015.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 732 exceeds guideline minimum of 720 for a DSCR cash out refinance at 80% LTV
10101289 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B B B D A N/A N/A D B B B D A N/A N/A Credit Credit/Mtg History Active B B B B CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement No Provide 12 months of canceled checks for the mortgage payments made to XXX. (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  312 months credit history exceeds guidelines.

CFCFS1745: Significant total monthly debt reduction
- XXX Comments:  45+ months reserves exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.
10101289 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B B B D A N/A N/A D B B B D A N/A N/A Property Valuations Appraisal Satisfied D A D A PRVAAPPR3116 Missing updated valuation No Missing third party valuation. 1.6.26 please find the BPO for review.1.13.26 exception satisfied  1.13.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  312 months credit history exceeds guidelines.

CFCFS1745: Significant total monthly debt reduction
- XXX Comments:  45+ months reserves exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.
10101507 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1734: Borrower has significant time at current job
- XXX Comments:  18 years employed with the XXX.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  780 mid-score per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  113 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  12.61 months of reserves in file.
10101439 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Title Satisfied D A D A CRDTIL865 Title incomplete No MissinG Complete Title Report for the Subject Property has not been uploaded by the Lender.  12.26.25 Prelim for review.12.26.25 exception satisfied  12.26.25 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  25.86 months of reserves exceeds guideline requirements of 3 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  66.78% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 782 > 162 points of minimum guideline requirements of 620.
10101032 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors A A A A A A A A A A A A A A A A                               CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Borrower has significant time at current job, 5 years and 11 months.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  10.69 months of reserves exceeds guideline requirements of 6 months.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 45.74% is above the minimum program requirements of 55%

CFCFS1737: LTV below guideline requirements
- XXX Comments:  80% LTV for Subject Property is below guideline max LTV of 90%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 810 > 210 points above guideline program minimum of 600.
10101348 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 724 > 104 points of minimum guideline requirements of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  18.50 months of reserves exceeds guideline requirements of 3 months.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has significant time at home, 4 years and 1 months.
10101306 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  160+ Months reporting positive

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  42 Months Reserves

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  53+ Months reporting positive
10101107 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 104.77 months PITIA

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 25 year credit history with 27 open and active tradelines

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage history reviewed for 52 months 0X30
10101240 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  257+ Months reporting

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1739: Positive mortgage payment history
- XXX Comments:  17+ Months reporting positive
10101035 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Safe Harbor (APOR) C B A A A A C B C B A A A A C B Compliance TILA/RESPA Integrated Disclosure Satisfied C B C B CMPTRID3670 TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation No Zero tolerance fail of $XXX. Provide COC for decrease of lender credit on LE issued XXX& COC for addition of Origination on CD issued XXX OR provide PCCD, LOX, Copy of cure check including proof of delivery within 60 days of consummation. 1.4.26-Client provided COC issued XXX for lender discount increase & lender credit decrease. Also needed per write up  "& a COC for addition of Origination on CD issued XXX".1.5.26-Client provided COC for addition of Origination on CD issued XXX Satisfied 1.5.26- Satisfied (No Data) Not Applicable CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI is 38.48%, max allowed by G/L is 55%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves, LTV = 75% - None Required.  Post close reserves $XXX or 2.57 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 773, minimum required by G/L 640
10101307 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Credit/Mtg History Active B B B B CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement No Provide 12 months of canceled checks for the rent paid to XXX (No Data) (No Data) (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 19 year credit history with 14 open and active tradelines 0X30

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 27.36 months PITIA

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage reporting 29 months 0X30
10101307 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit LTV/CLTV Active B B B B CRDLTV3026 LTV Exceeds Guideline Requirement by at least 5%, but less than 10% No The loan to value for a short term rental is 70%, LTV is 75%. XXX deems this non-material. Compensating factors: FICO 717, 27 months in reserves, seasoned investor. (No Data) (No Data) (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 19 year credit history with 14 open and active tradelines 0X30

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 27.36 months PITIA

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage reporting 29 months 0X30
10101440 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 21.77 months. Reserves not required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 53.99% is below guideline maximum of 80% for a DSCR Rate/Term refinance with a 785 credit score.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has never been 1X30 with history from XXX
10101259 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  8.97 months reserves of reserves in file.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 8+ years.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  791 qualifying credit score per CBR.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  234 months of 0x30 consumer credit history per CBR.
10101470 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Terms/Guidelines Active B B B B CRDTER5518 Loan fails XXX Minimum Equity requirement No Appraised value $XXX -Loan amount $XXX = $XXX Equity. Guidelines require $XXX. (No Data) (No Data) (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  51 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  107+ months reserves exceeds guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 2 years.
10101459 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Terms/Guidelines Active B B B B CRDTER5518 Loan fails XXX Minimum Equity requirement No Appraised value $XXX- Loan amount $XXX= $XXX equity. Guidelines require $40,000.00. (No Data) (No Data) (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  145 months credit history exceeds guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 2+ years.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  33+ months reserves exceeds guidelines.
10101459 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Title Satisfied D A D A CRDTIL865 Title incomplete No Missing updated Title showing vesting as XXX 1.18.2026-Client's response: XXXSee item 5 regarding the vesting, please clear finding.1.18.2026-XXX's response: Received the correct title commitment; exception satisfied. 1.18.2026-Exception satisfied. (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  145 months credit history exceeds guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 2+ years.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  33+ months reserves exceeds guidelines.
10101130 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 3.82 months. Reserves not required.

CFCFS1736: Significant time at current residence
- XXX Comments:  In residence 33 years.

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Borrower has never been 1X30 with history from XXX
10101365 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A A A D A A A D A A A D A A A Property Valuations Property Satisfied D A D A PRVAPROP132 Missing HOA Certificate/Questionnaire No Provide HOA Certificate/Questionnaire. 1.7.26 HOA cert for review.1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 760 exceeds 660 the minimum required per lender guidelines

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75.00% is below 80.00% the maximum allowable per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX exceeds $XXX the minimum required per lender guidelines

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  35 months mortgage payment history exceeds 12 months the minimum required per lender guidelines
10101267 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1736: Significant time at current residence
- XXX Comments:  3.5 years living at primary residence.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  305 months of 0x30 consumer credit history per CBR.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of722 is above the required 620

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 32.26 is below the maximum allowable of 75

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves: $XXX or 40.76 months of PITIA. 0 months required.
10101463 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A A A B B B B A A A A Credit Credit/Mtg History Active B B B B CRDCRMH3000 # of Tradelines Does Not Meet Guideline Requirements No Missing Proof that Collections for  XXX #XXX- $279 have been paid in full.  (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  11.61 months of reserves exceeds guideline requirements of 0 months.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  57.51% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 738 > 118 points above guideline program minimum of 620.
10101132 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1 1.9.26 FSS provided, please clear finding.1.9.26 exception satisfied  1.9.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 16.19 months. 3 months required.

CFCFS1736: Significant time at current residence
- XXX Comments:  In residence 5 years.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 634 exceeds guideline minimum of 620 for a DSCR cash out refinance at 67.97% LTV.
10101381 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1 1.5.26 FSS provided, please clear finding.1.6.26 exception satisfied  1.6.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 5.78 months. 3 months required.

CFCFS1736: Significant time at current residence
- XXX Comments:  In residence 2.8 years.

CFCFS2860: Good credit history
- XXX Comments:  Borrower has never been 1X30 with history from XXX
10101483 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Provide final hud-1 1.21.26 FSS rcvd 1.21.26 exception satisfied  (No Data) Not Applicable CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 16.64 is below guideline requirement max of 80.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 773 exceeds guideline requirement of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX  or 20.82 months PITI reserve exceeds required reserves of $XXX.
10101341 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Title Satisfied D A D A CRDTIL796 Missing Title No Title for Subject Property has not been uploaded by the Lender.  1.7.26 prelim please clear1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  62.24 months of reserves exceeds guideline requirements of 0 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 812 > 192 points above guideline program minimum of 620.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  51.45% LTV for Subject Property is below guideline max LTV of 80%
10101169 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  105 months of 0x30 consumer credit history per CBR.

CFCFS2860: Good credit history
- XXX Comments:  Good Creit History

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  46+ Months reporting

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  24 Months Reserves

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  741 mid-score per CBR.
10101473 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL806 Notary Status is missing No Please provide a copy of the executed mortgage, including notary page and all riders. 12.19.25 please find the executed docs12.19.25 exception satisfied  12.19.25 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 16.67 months. 3 months required.

CFCFS1736: Significant time at current residence
- XXX Comments:  In residence 33 years.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 766 exceeds guideline minimum of 700 for a DSCR purchase at 80% LTV.
10101134 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Credit/Mtg History Active B B B B CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement No Provide guideline required evidence of rental history for borrowers primary residence. (No Data) (No Data) (No Data) Not Applicable CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 69.75 is below guideline requirement max of 80.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 25.34 months PITI reserve exceeds require reserves of ($XXX x XXX = $XXX ).

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 640 exceeds guideline requirement of 620.
10101135 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 640 exceeds 620 the minimum required per lender guidelines

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Rental payment history of 29 months exceeds the minimum 12 months required per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX exceeds $XXX the minimum required per lender guidelines
10101261 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Application Satisfied D A D A CRDAPP3822 Missing or incomplete documentation related to citizenship/residency No Guarantor is a XXX Provide a copy of required current passport. 1.7.26 Copy of passport provided, please clear finding.1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1736: Significant time at current residence
- XXX Comments:  11 years living at primary home.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  4.01 months of reserves in file.
10101358 XXXXXX XXXXXX (No Data) ATR/QM: Exempt C A A A C A N/A N/A C B A A C B N/A N/A Property Valuations Value Satisfied C A C B PRVAVALU5249 Property Value Not Supported No Appraisal Value $XXX; Desk review $XXX.   Desk review conducted off incorrect OA value.  1.20.26 New desk review is within 10% variance1.21.26 exception satisfied  1.21.26 exception satisfied  Not Applicable Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  340 months credit history exceeds guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 15 years.

CFCFS2860: Good credit history
- XXX Comments:  Guarantors demonstrate good credit history.
10101139 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Credit/Mtg History Active B B B B CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement No Provide 12 months of canceled checks for the mortgage payments to XXX and XXX. (No Data) (No Data) (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  121 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  21+ months credit history exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.
10101139 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Credit/Mtg History Active B B B B CRDCRMH3000 # of Tradelines Does Not Meet Guideline Requirements No Evidence of collection to XXX in the amount of $1,406. (No Data) (No Data) (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  121 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  21+ months credit history exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.
10101139 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Title Satisfied D A D A CRDTIL865 Title incomplete No Provide Title Commitment that shows the insured amount of $XXX. 1.6.26 Commitment provided, please clear finding.1.6.26 exception satisfied  1.6.26 exception satisfied  (No Data) Not Applicable CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  121 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  21+ months credit history exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.
10101140 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Insurance Satisfied D A D A CRDINSR2400 Missing Flood Certification Document No Missing Flood cert 12.19.25 flood cert rcvd12.19.25 exception satisfied.  12.19.25 exception satisfied.  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 4.0584 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 723, minimum required by G/L is 700

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage rating 29 months reviewed 0X30
10101140 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Estimated HUD in file.  Missing Final HUD. 12.19.25 FSS ecvd 12.19.25 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 4.0584 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 723, minimum required by G/L is 700

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage rating 29 months reviewed 0X30
10101412 XXXXXX XXXXXX (No Data) ATR/QM: Exempt C A A A C A N/A N/A C A A A C A N/A N/A Property Valuations Property Satisfied C A C A PRVAPROP177 Property Issues Indicated No Missing updated valuation supporting appraised value of $XXX 1.12.2025: XXXAppraisal desk review provided, please clear finding.1.12.2025-XXX's response: Received the Field Review with supporting the value of $XXX, exception satisfied. 1.12.2025-XXX's response:exception satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX  X XXX =  $XXX.  Post close reserves $XXX or 9.73 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 762, minimum required by G/L is 700

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 28 year credit history with 14 open and active tradelines 0X30
10101325 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A A A B B B B A A A A Credit Credit/Mtg History Active B B B B CRDCRMH124 Collections, Liens, etc. not paid as required by guidelines No Missing proof $7,094.00 collection account with XXX has been paid outside of closing. Date opened XXX.  (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX exceeds $XXX the minimum required per lender guidelines

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 709 exceeds 680 the minimum required per lender guidelines

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has 30 years occupancy at their current residence
10101387 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  202 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  23+ months credit history exceeds guidelines.

CFCFS1739: Positive mortgage payment history
- XXX Comments:  Guarantor demonstrates positive mortgage payment history.
10101264 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1736: Significant time at current residence
- XXX Comments:  9 yrs residing in current residence

CFCFS2860: Good credit history
- XXX Comments:  10% revolving debt utilized

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit Score 729 exceeds the minimum of 700

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Reserfves $XXX, 9.97 months reserves, 3 months required
10101469 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage payment history of 0 x 30 past 91 months exceeds guideline requirement.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  468 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves of $XXX, or 87.63 months PITI, exceed guideline requirement.

CFCFS1736: Significant time at current residence
- XXX Comments:  Borrower has resided at current residence for over 7 years.
10100985 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Safe Harbor (APOR) A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 16.64 months PITIA

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI is 20.65%, max allowed by G/L is 20.65%

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  The borrower has been XXX for 4 years
10100988 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors D B D A A A D B D B D A A A D B Compliance Ability to Repay/Qualified Mortgage Satisfied D A D A CMPATRQM3220 TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status. No Income verification does not meet guidelines: Missing October Bank stmt from XXX Account #XXX& #XXX 1.21.2026-Client's response: XXXOctober statement uploaded, please clear finding.1.21.2026-XXX's response: Received the October statement for XXX, exception is satisfied. 1.21.2026-Exception satisfied. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 804, minimum required by G/L is 660

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX = XXX.  Post close reserves $XXX or 65.64 months PITI
10100988 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors D B D A A A D B D B D A A A D B Compliance TILA/RESPA Integrated Disclosure Satisfied C B C B CMPTRID3670 TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation No Zero Tolerance Fee for $250.00.  Appraisal fee increased from $850.00 on LE XXX to $1100.00 on final CD.  No documentation provided disclosing increase in fee.  Please provide documentation or Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation to cure. 1.13.26-Client provided COC issued XXX for "rush" fee for appraisal increase. Provide corresponding LE or CD within 3 business days of increase.1.21.26-Satisfied. 1.21.26-Satisfied. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 804, minimum required by G/L is 660

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX = XXX.  Post close reserves $XXX or 65.64 months PITI
10100988 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors D B D A A A D B D B D A A A D B Credit Income/Employment Satisfied D A D A CRDINC2408 Income verification does not meet guidelines No Missing October Bank statement from XXX Account #XXX & #XXX 1.21.2026-Client's response: XXXOctober statement uploaded, please clear finding.1.21.2026-XXX's response: Received the October statement for XXX, exception is satisfied. 1.21.2026-Exception is satisfied. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 804, minimum required by G/L is 660

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX = XXX.  Post close reserves $XXX or 65.64 months PITI
10100989 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors C B A A A A C B C B A A A A C B Compliance TILA/RESPA Integrated Disclosure Satisfied C A C A CMPTRID3618 TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing No Please provide proof of receipt for both CD's issue XXX. 1.12.26-Client provided CDs issued XXX, e-signed on XX & XXX. Satisfied. 1.12.26-Satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  12 Months Reserves

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1739: Positive mortgage payment history
- XXX Comments:  69+ Months reporting positive

CFCFS2854: Significant time in profession
- XXX Comments:  20+ Years in Profession
10100989 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors C B A A A A C B C B A A A A C B Compliance TILA/RESPA Integrated Disclosure Satisfied C A C A CMPTRID3626 TRID - CD: Loan consummated before end of waiting period No Please provide proof of receipt for both CD's issue XXX. 1.12.26-Client provided CDs issued XXX, e-signed on XXX& XXX Satisfied. 1.12.26- Satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  12 Months Reserves

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1739: Positive mortgage payment history
- XXX Comments:  69+ Months reporting positive

CFCFS2854: Significant time in profession
- XXX Comments:  20+ Years in Profession
10100989 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors C B A A A A C B C B A A A A C B Compliance TILA/RESPA Integrated Disclosure Satisfied C B C B CMPTRID3670 TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation No Zero Tolerance Fee of $16 due to Transfer Tax fee increase on CD XXX. Provide a valid Change of Circumstance, or Post Close CD, LOX and copy of refund check to borrower with proof of delivery via tracking method within 60 days of consummation. 1.12.26-Client provided COC, Satisfied. 1.12.26-Satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  12 Months Reserves

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1739: Positive mortgage payment history
- XXX Comments:  69+ Months reporting positive

CFCFS2854: Significant time in profession
- XXX Comments:  20+ Years in Profession
10100990 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors A A A A A A A A A A A A A A A A                               CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  114+ Months reporting

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  42+ Months reporting positive
10101058 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Safe Harbor (APOR) A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  6.73 months of reserves exceeds guideline requirements of 6 months.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 44.69% is above the minimum program requirements of 50%

CFCFS1737: LTV below guideline requirements
- XXX Comments:  79.68% LTV for Subject Property is below guideline max LTV of 85%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score 684 > 84 points above guideline program minimum of 600.
10101150 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A N/A N/A B B B B A A N/A N/A Credit Credit/Mtg History Active B B B B CRDCRMH193 Length of mortgage/rental history in file does not meet guideline requirement No Provide 12 months canceled checks for the mortgage payments to the private lender XXX (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  13+ months reserves exceeds guidelines.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence for 5 years.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates good credit history.
10101187 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves of $XXX, or 9.15 months PITI, exceed 3 month guideline requirement.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 757 exceeds guideline requirement of 720.

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage payment history of over 40 months 0 x 30, exceeds guideline requirement.
10101188 XXXXXX XXXXXX (No Data) ATR/QM: Exempt B B B B A A A A B B B B A A A A Credit Credit/Mtg History Active B B B B CRDCRMH124 Collections, Liens, etc. not paid as required by guidelines No Missing proof collection with XXX for $48 was paid (No Data) (No Data) (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX  X XXX =  $XXX.  Post close reserves $XXX or 29.57 months PITIA

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  The borrower has a 9 year credit history with 6 and open and active tradelines

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 647, minimum required by G/L is 620
10101154 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Assets Active B B B B CRDAST3078 Insufficient # of months cash reserves for PITI per guideline requirements No Per guidelines 6 months reserves required for loan amounts over XXX. File has 5.34 months in reserves. XXX deems this non-material. Compensating factors: FICO 745, 6 years at current residence, DSCR 1.0012. (No Data) (No Data) (No Data) Not Applicable CFCFS2860: Good credit history
- XXX Comments:  Borrowers have good credit history with very low credit utilization.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score is 745, min is 620.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 5 years.
10101154 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1. 1.14.26 FSS provided, please clear finding.1.21.26 exception satisfied  1.21.26 exception satisfied  (No Data) Not Applicable CFCFS2860: Good credit history
- XXX Comments:  Borrowers have good credit history with very low credit utilization.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score is 745, min is 620.

CFCFS1736: Significant time at current residence
- XXX Comments:  Guarantor has lived at current residence 5 years.
10101061 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Rebuttable Presumption (APOR) C B B B A A C A C B B B A A C A Compliance Ability to Repay/Qualified Mortgage Satisfied C A C A CMPATRQM2900 TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; XXX's status determination places loan in a riskier status than the Lender's status determination. No Client declared QM Safe APOR, XXX status is QM Rebuttable APOR due to Benchmark Date XXX, loan has a test APR 7.770% the Benchmark Rate was 6.220% Variance 1.55%' Max allowed is 1.5000% 1.13.26 Client response; We accept the determination on this and please clear the exception.1.13.26 XXX memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon XXXs review. 1.13.26 XXX memo; exception satisfied. (No Data) Not Applicable CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  41 months mortgage payment history exceeds 12 months the minimum required

CFCFS2854: Significant time in profession
- XXX Comments:  Borrower is in the same profession for 17 years, 10 months

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 802 exceeds 660 the minimum required per lender guidelines

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 80.00% is below 85.00% the maximum allowable per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX exceeds $XXXthe minimum amount required per lender guidelines

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 35.87% is below 55.00% the maximum allowable per lender guidelines
10101061 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Rebuttable Presumption (APOR) C B B B A A C A C B B B A A C A Credit Ability to Repay/Qualified Mortgage Active B B B B CRDATRQM5170 TILA - ATR/QM: Lender changed their status determination based upon XXX's review No Client agreed to QM rebuttable APOR status based upon XXX review.  (No Data) (No Data) Not Applicable Not Applicable CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  41 months mortgage payment history exceeds 12 months the minimum required

CFCFS2854: Significant time in profession
- XXX Comments:  Borrower is in the same profession for 17 years, 10 months

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 802 exceeds 660 the minimum required per lender guidelines

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 80.00% is below 85.00% the maximum allowable per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX exceeds $XXXthe minimum amount required per lender guidelines

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 35.87% is below 55.00% the maximum allowable per lender guidelines
10101345 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1 1.14.26 FSS provided, please clear finding.1.21.26 exception satisfied  1.21.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves, <=65% LTV none required.  Post close reserves $XXX or 90.83 months PITI

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV is 39.20%, max allowed by 70%

CFCFS1736: Significant time at current residence
- XXX Comments:  The borrower has occupied the primary residence for 33 years

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  676 mid-score per CBR.
10101218 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 76.50 is below guideline requirement max of 80.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 788 exceeds guideline requirement of 620.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 70.03 months PITI reserve exceeds required reserves of ($XXX x XXX = $XXX).
10100995 XXXXXX XXXXXX Non-QM: Lender documented all ATR UW factors Non-QM: Lender documented all ATR UW factors A A A A A A A A A A A A A A A A                               CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 80 is below guideline requirement max of 85.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Representative score of 801 exceeds guideline requirement of 660.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 4.24 is below guideline requirement max of 50.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified reserves of $XXX or 34.97 months PITI reserve exceeds required reserves of ($XXX x XX = $XXX).
10101521 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A A A N/A N/A D A D A A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Provide final hud-1 1.7.26 please find the FSS1.8.26 exception satisfied  1.8.26 exception satisfied  (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Post close reserves are $XXX, or 13.18 months. 3 months required.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 75% is below guideline maximum of 80% for an Alt Doc purchase with a 776 credit score.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 776 exceeds guideline minimum of 660 for an Alt Doc purchase at 75% LTV.
10101522 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A C A A A D A D A C A A A Credit Legal Documents Satisfied D A D A CRDLGL1819 Estimated HUD-1 in File, Missing Final HUD-1 No Please provide Final HUD-1 1.15.26 FSS provided, please clear finding.1.21.26 exception satisfied  1.21.26 exception satisfied  (No Data) Not Applicable CFCFS2854: Significant time in profession
- XXX Comments:  16 yrs in same profession supported by business search

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Reserves $XXX, 65.85 months reserves, 3 months required

CFCFS2860: Good credit history
- XXX Comments:  11% revolving credit utilized

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI 20.88% is below the maximum of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 722 exceeds the minimum of 720
10101522 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A C A A A D A D A C A A A Property Valuations Property Satisfied C A C A PRVAPROP177 Property Issues Indicated No Missing condo questionnaire and budget for subject project.   1.14.26 HOA questionnaire provided, please clear finding.1.21.26 exception satisfied  1.21.26 exception satisfied  (No Data) Not Applicable CFCFS2854: Significant time in profession
- XXX Comments:  16 yrs in same profession supported by business search

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Cash Reserves $XXX, 65.85 months reserves, 3 months required

CFCFS2860: Good credit history
- XXX Comments:  11% revolving credit utilized

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI 20.88% is below the maximum of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score 722 exceeds the minimum of 720
10101523 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A D A A A D A D A D A A A Credit Legal Documents Satisfied D A D A CRDLGL1817 Final HUD-1 is incomplete or illegible No Missing Final HUD-1 with disbursement date listed has not been uploaded by the Lender.  1.18.2026-Client's response:XXXFSS provided, please clear finding.1.18.2026-XXX's response: Received the HUD1, exception is satisfied. 1.18.2026-Exception satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  65.28 months of reserves exceeds guideline requirements of 3 months.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  445 months of 0x30 consumer credit history per CBR.

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Borrower has significant time at current job, 26 years and 0 months.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 20.79% is above the minimum program requirements of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score of 722 > 102 required guideline requirements of 620
10101523 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D A D A D A A A D A D A D A A A Property Valuations Property Satisfied D A D A PRVAPROP132 Missing HOA Certificate/Questionnaire No Missing Condo Questionnaire for subject property for proof of Condo Association is Warrantable. 1.18.2026-Client's response:XXXHOA questionnaire provided, please clear finding.1.18.2026-XXX's response: Received the HOA Questionnaire, exception is satisfied. 1.18.2026=Exception satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  65.28 months of reserves exceeds guideline requirements of 3 months.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  445 months of 0x30 consumer credit history per CBR.

CFCFS1734: Borrower has significant time at current job
- XXX Comments:  Borrower has significant time at current job, 26 years and 0 months.

CFCFS1744: DTI below guideline requirement
- XXX Comments:  DTI of 20.79% is above the minimum program requirements of 50%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score of 722 > 102 required guideline requirements of 620
10101302 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX=  $XXX.  Post close reserves $XXX or 44.75 months PITIA

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 726 minimum required by G/L is 680

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage history reviewed 75 months 0X30
10101066 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Rebuttable Presumption (APOR) D B C B A A D A D B C B A A D A Compliance Ability to Repay/Qualified Mortgage Satisfied C A C A CMPATRQM2900 TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; XXX's status determination places loan in a riskier status than the Lender's status determination. No Client delivered file as QM SH APOR. XXXs status is QM rebuttable QPOER sue to file being a HPCT.  1.21.26 Client response; We accept the determination on this and please clear the exception.1.21.26 XXX memo; exception satisfied; However, a level 2 exception will remain on file as Lender changed their status determination based upon XXXs review. 1.21.26 XXX memo; exception satisfied (No Data) Not Applicable CFCFS1736: Significant time at current residence
- XXX Comments:  The borrower has occupied the subject property for 12 years

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 27.28 months PITIA

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage is reporting 22 months 0X30
10101066 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Rebuttable Presumption (APOR) D B C B A A D A D B C B A A D A Compliance Ability to Repay/Qualified Mortgage Satisfied D A D A CMPATRQM3220 TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status. No Verbal verification of employment missing 1.21.26 VOE rcvd 1.21.26 exception satisfied  (No Data) Not Applicable CFCFS1736: Significant time at current residence
- XXX Comments:  The borrower has occupied the subject property for 12 years

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 27.28 months PITIA

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage is reporting 22 months 0X30
10101066 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Rebuttable Presumption (APOR) D B C B A A D A D B C B A A D A Credit Ability to Repay/Qualified Mortgage Active B B B B CRDATRQM5170 TILA - ATR/QM: Lender changed their status determination based upon XXX's review No Client agreed to QM Rebuttable APOR status based upon XXX review.  (No Data) (No Data) Not Applicable Not Applicable CFCFS1736: Significant time at current residence
- XXX Comments:  The borrower has occupied the subject property for 12 years

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 27.28 months PITIA

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage is reporting 22 months 0X30
10101066 XXXXXX XXXXXX QM: Safe Harbor (APOR) QM: Rebuttable Presumption (APOR) D B C B A A D A D B C B A A D A Credit Income/Employment Satisfied C A C A CRDINC2488 Verbal verification of employment missing No Missing VVOE from XXX 1.21.26 VOE rcvd  1.21.26 exception satisfied  (No Data) Not Applicable CFCFS1736: Significant time at current residence
- XXX Comments:  The borrower has occupied the subject property for 12 years

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXX or 27.28 months PITIA

CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  Mortgage is reporting 22 months 0X30
10101389 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1736: Significant time at current residence
- XXX Comments:  15+ years at current residence.

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  246 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  24+ months reserves exceeds guidelines.
10101247 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  356 months credit history exceeds guidelines.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  93+ months reserves exceeds guidelines.

CFCFS2860: Good credit history
- XXX Comments:  Guarantor demonstrates 24+ months good credit history.
10101235 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1736: Significant time at current residence
- XXX Comments:  35 years living at primary residence.

CFCFS1737: LTV below guideline requirements
- XXX Comments:  76.5% LTV for Subject Property is below guideline max LTV of 80%

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  88.37 months of reserves exceeds guideline requirements of 3 months.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Median Fico Score of 812 > 192 required guideline requirements of 620
10101390 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  52 Months Reserves

CFCFS2860: Good credit history
- XXX Comments:  Good Credit History

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  324+ Months reporting positive
10101160 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1736: Significant time at current residence
- XXX Comments:  5 years living at primary residence.

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Qualifying FICO is 766, minimum required by G/L is 700

CFCFS1742: Consumer credit history exceeds guidelines
- XXX Comments:  177 months of 0x30 consumer credit history per CBR.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Reserves required $XXX X XXX =  $XXX.  Post close reserves $XXXor 16.35 months PITI
10101304 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1740: Mortgage payment history exceeds guidelines
- XXX Comments:  61 months mortgage payment history exceeds 12 months the minimum required per lender guidelines

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Credit score of 647 exceeds 620 the minimum required per lender guidelines

CFCFS1737: LTV below guideline requirements
- XXX Comments:  LTV of 47.62% is below 70.00% the maximum allowable per lender guidelines

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Verified cash reserves in the amount of $XXX exceeds $XXX the minimum required per lender guidelines

CFCFS1736: Significant time at current residence
- XXX Comments:  8.6 years living at primary residence.
10217419 XXXXXX XXXXXX (No Data) ATR/QM: Exempt A A A A A A N/A N/A A A A A A A N/A N/A                               CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Guidelines require min score of 700. Mid fico score 804.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  Guidelines specify reserves required for 3 months ($XXX). Total reserves verified in the amount of $XXX(134 months)
9976781 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Application Satisfied D A D A CRDAPP155 Application Missing No The final executed application was not in the file. (No Data) Document provided to cure.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Guidelines require min score of 700. Mid representative fico score is 763.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  130 months reserves.
9976781 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL100 Legal document incorrect or incomplete No The escrow disclosure was not in the file. (No Data) DSCR loan. Not required.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Guidelines require min score of 700. Mid representative fico score is 763.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  130 months reserves.
9976781 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL4033 Missing Legal Document(s) No The tax certificate/estimated taxes that includes the improvements was not in file.  Audit used the monthly escrow on the settlement statement for calculation purposes.  The tax certificate is file were for XXX Tax examiner states 2025/2026 is not released yet. Estimate used. Satisfied.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Guidelines require min score of 700. Mid representative fico score is 763.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  130 months reserves.
9976781 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Legal Documents Satisfied D A D A CRDLGL988 Loan File is Missing or Contains Insufficient Documentation for Basic Review No The 1008 was not in the file. (No Data) Document provided in lieu.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Guidelines require min score of 700. Mid representative fico score is 763.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  130 months reserves.
9976781 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D B A A N/A N/A D B D B A A N/A N/A Credit Terms/Guidelines Waived B B B B CRDTER4631 Loan parameters do not meet guidelines No The subject is vested in XXX which has a LLC as the sole member.   (No Data) The file included an XXX approval dated XXX for nested entity. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  Guidelines require min score of 700. Mid representative fico score is 763.

CFCFS1731: Verified cash reserves exceed guidelines
- XXX Comments:  130 months reserves.
10217425 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D A B B A A D B D A B B A A Credit Legal Documents Satisfied D A D A CRDLGL4033 Missing Legal Document(s) No The 1008 is missing Received 1008 Satisfied.  (No Data) Not Applicable CFCFS5269: Minimal use of credit
- XXX Comments:  The credit line usage is below 10%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  755 FICO score exceeds minimum FICO requirements by over 20 points
10217425 XXXXXX XXXXXX (No Data) ATR/QM: Exempt D B D A B B A A D B D A B B A A Property Valuations Appraisal Waived B B B B PRVAAPPR4789 Appraisal Deficiency No The appraisal was not ordered through an XXX.  The seller has a blanket waiver with XXX  for this issue. The seller has a blanket waiver with XXX  for this issue. Waived (No Data) Not Applicable CFCFS5269: Minimal use of credit
- XXX Comments:  The credit line usage is below 10%

CFCFS1741: Credit score exceeds guidelines
- XXX Comments:  755 FICO score exceeds minimum FICO requirements by over 20 points

 

 
 
Client Name:                                
Client Project Name: MSRM 2026-NQM8                                
Start - End Dates: 12/5/2025 - 4/24/2026                                
Deal Loan Count: 107                                
                                       
Conditions Report 2.0                              
                                       
Loans in Report: 107                              
Loans with Conditions: 59                              
                                       
Loan Number Lender Application Date Broker Application Date Initial Securitization Overall Loan Grade Final Securitization Overall Loan Grade Initial Securitization Credit Loan Grade Final Securitization Credit Loan Grade Initial Securitization Property Valuations Loan Grade Final Securitization Property Valuations Loan Grade Initial Securitization Compliance Loan Grade Final Securitization Compliance Loan Grade Initial S&P Overall Loan Grade Final S&P Overall Loan Grade Initial S&P Credit Loan Grade Final S&P Credit Loan Grade Initial S&P Property Valuations Loan Grade Final S&P Property Valuations Loan Grade Initial S&P Compliance Loan Grade Final S&P Compliance Loan Grade Did Lender Acknowledge Exception at Origination
10284740 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10284714 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10284719 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10284721 XXXXXX XXXXXX D A D A A A A A D A D A A A A A Not Applicable
10284722 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10284744 XXXXXX XXXXXX B B B B A A A A B B B B A A A A No
10110827 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10110915 XXXXXX XXXXXX B A B A A A N/A N/A B A B A A A N/A N/A Not Applicable
10110832 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10110835 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10110872 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10110914 XXXXXX XXXXXX C B C B A A N/A N/A C B C B A A N/A N/A Not Applicable
10110923 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A Not Applicable
10110863 XXXXXX XXXXXX D A D A C A N/A N/A D B D A C B N/A N/A Not Applicable
10101418 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10101248 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10101384 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101226 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101299 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101399 XXXXXX XXXXXX D A A A D A A A D A A A D A A A No
10101176 XXXXXX XXXXXX D A A A D A N/A N/A D A A A D A N/A N/A Not Applicable
10101373 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101322 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A No
10101002 XXXXXX XXXXXX C B A A A A C B C B A A A A C B No
10101311 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A Not Applicable
10101499 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101252 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A No
10101433 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10101227 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Yes
10101329 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101428 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101010 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10101502 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A No
10101296 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A Not Applicable
10100953 XXXXXX XXXXXX C B A A A A C B C B A A A A C B No
10101313 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101494 XXXXXX XXXXXX D A D A A A A A D A D A A A A A Not Applicable
10101487 XXXXXX XXXXXX D A A A D A A A D A A A D A A A No
10101457 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101199 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A No
10101253 XXXXXX XXXXXX D A A A D A N/A N/A D A A A D A N/A N/A Yes
10101279 XXXXXX XXXXXX D B B B D A N/A N/A D B B B D A N/A N/A Not Applicable
10101504 XXXXXX XXXXXX D A D A A A A A D A D A A A A A No
10101505 XXXXXX XXXXXX D A D A A A A A D A D A A A A A Not Applicable
10101396 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10101289 XXXXXX XXXXXX D B B B D A N/A N/A D B B B D A N/A N/A Not Applicable
10101507 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101439 XXXXXX XXXXXX D A D A A A A A D A D A A A A A No
10101032 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101348 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101306 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101107 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101240 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
10101035 XXXXXX XXXXXX C B A A A A C B C B A A A A C B No
10101307 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A Yes
10101440 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101259 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101470 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A Yes
10101459 XXXXXX XXXXXX D B D B A A N/A N/A D B D B A A N/A N/A Not Applicable
10101130 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10101365 XXXXXX XXXXXX D A A A D A A A D A A A D A A A Not Applicable
10101267 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10101463 XXXXXX XXXXXX B B B B A A A A B B B B A A A A No
10101132 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10101381 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10101483 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A No
10101341 XXXXXX XXXXXX D A D A A A A A D A D A A A A A No
10101169 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101473 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10101134 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A No
10101135 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10101261 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10101358 XXXXXX XXXXXX C A A A C A N/A N/A C B A A C B N/A N/A Yes
10101139 XXXXXX XXXXXX D B D B A A N/A N/A D B D B A A N/A N/A Not Applicable
10101140 XXXXXX XXXXXX D A D A A A A A D A D A A A A A No
10101412 XXXXXX XXXXXX C A A A C A N/A N/A C A A A C A N/A N/A No
10101325 XXXXXX XXXXXX B B B B A A A A B B B B A A A A Not Applicable
10101387 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101264 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Yes
10101469 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10100985 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10100988 XXXXXX XXXXXX D B D A A A D B D B D A A A D B No
10100989 XXXXXX XXXXXX C B A A A A C B C B A A A A C B No
10100990 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101058 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101150 XXXXXX XXXXXX B B B B A A N/A N/A B B B B A A N/A N/A Not Applicable
10101187 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101188 XXXXXX XXXXXX B B B B A A A A B B B B A A A A No
10101154 XXXXXX XXXXXX D B D B A A N/A N/A D B D B A A N/A N/A Not Applicable
10101061 XXXXXX XXXXXX C B B B A A C A C B B B A A C A Not Applicable
10101345 XXXXXX XXXXXX D A D A A A A A D A D A A A A A Not Applicable
10101218 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10100995 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101521 XXXXXX XXXXXX D A D A A A N/A N/A D A D A A A N/A N/A Not Applicable
10101522 XXXXXX XXXXXX D A D A C A A A D A D A C A A A Not Applicable
10101523 XXXXXX XXXXXX D A D A D A A A D A D A D A A A Not Applicable
10101302 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101066 XXXXXX XXXXXX D B C B A A D A D B C B A A D A No
10101389 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Yes
10101247 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10101235 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101390 XXXXXX XXXXXX A A A A A A A A A A A A A A A A No
10101160 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A Not Applicable
10101304 XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
10217419 XXXXXX XXXXXX A A A A A A N/A N/A A A A A A A N/A N/A No
9976781 XXXXXX XXXXXX D B D B A A N/A N/A D B D B A A N/A N/A Not Applicable
10217425 XXXXXX XXXXXX D B D A B B A A D B D A B B A A Not Applicable