|
Client Name:
|
||||
|
Client Project Name:
|
SEMT 2026-MED2
|
|||
|
Start - End Dates:
|
1/9/2026 - 7/4/2026
|
|||
|
Deal Loan Count:
|
572
|
|||
|
Waived Conditions Summary
|
||||
|
Review Scope
|
Category
|
Code
|
Description
|
Count
|
|
Credit
|
Terms/Guidelines
|
CRDTER3122
|
Loan documents do not meet guideline requirements
|
3
|
|
Credit
|
Terms/Guidelines
|
CRDTER4631
|
Loan parameters do not meet guidelines
|
21
|
|
Credit
|
Terms/Guidelines
|
CRDTER4643
|
Borrower does not meet guideline requirements
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH104
|
Credit score below guidelines
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH117
|
Length of credit history in file does not meet guideline requirement
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH118
|
Mortgage/rental lates exceed guidelines
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH1805
|
Debts/obligations not disclosed/accounted for at origination
|
1
|
|
Credit
|
Credit/Mtg History
|
CRDCRMH193
|
Length of mortgage/rental history in file does not meet guideline requirement
|
26
|
|
Credit
|
DTI
|
CRDDTI105
|
Debt Ratio Exception XXX% or Less
|
7
|
|
Credit
|
DTI
|
CRDDTI106
|
Debt Ratio Exception >XXX% and <XXX%
|
1
|
|
Credit
|
DTI
|
CRDDTI2540
|
Missing verification of some or all components of non-subject PITI
|
1
|
|
Credit
|
Title
|
CRDTIL875
|
Title Does Not Agree With Mortgage
|
1
|
|
Credit
|
Income/Employment
|
CRDINC126
|
Length of employment/self-employment does not meet guidelines
|
1
|
|
Credit
|
Income/Employment
|
CRDINC150
|
Income docs do not meet guidelines
|
2
|
|
Credit
|
Income/Employment
|
CRDINC2408
|
Income verification does not meet guidelines
|
2
|
|
Credit
|
Income/Employment
|
CRDINC2488
|
Verbal verification of employment missing
|
8
|
|
Credit
|
Income/Employment
|
CRDINC2496
|
Verbal verification of employment completed outside the stated requirements and/or after closing/funding
|
2
|
|
Credit
|
Income/Employment
|
CRDINC888
|
Income Amount is Unsupported by Documentation in File
|
3
|
|
Credit
|
Insurance
|
CRDINSR5351
|
Insurance Effective date is greater than the transaction date
|
5
|
|
Credit
|
Application
|
CRDAPP1813
|
Undisclosed non-arm's length transaction
|
1
|
|
Credit
|
Assets
|
CRDAST115
|
Cash reserves do not meet guidelines
|
1
|
|
Credit
|
Assets
|
CRDAST206
|
Asset Amounts Are Unsupported by Documentation in File
|
1
|
|
Credit
|
Assets
|
CRDAST2670
|
Asset documentation is insufficient per guideline requirements
|
1
|
|
Credit
|
Assets
|
CRDAST3078
|
Insufficient # of months cash reserves for PITI per guideline requirements
|
6
|
|
Property Valuations
|
Property
|
PRVAPROP241
|
Property Type unacceptable under guidelines
|
1
|
|
Property Valuations
|
Appraisal
|
PRVAAPPR275
|
Completed "Subject To" w/o Completion Cert in File
|
3
|
|
Compliance
|
Ability to Repay/Qualified Mortgage
|
CMPATRQM2900
|
TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; Clayton's status determination places loan in a riskier status than the Lender's status
determination.
|
2
|
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
CMPTRID3626
|
TRID - CD: Loan consummated before end of waiting period
|
1
|
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
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
|
1
|
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
CMPTRID3676
|
TRID - CD: Ten percent 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.
|
1
|
|
Compliance
|
TILA/RESPA Integrated Disclosure
|
CMPTRID4043
|
TRID - CD: The Index on the AIR Table of the Final Closing Disclosure does not match the Index on the Note
|
3
|
|
Compliance
|
Right of Rescission
|
CMPROR1909
|
Incorrect ROR Form Used - XXX Form Used in Refinance With Original Creditor
|
1
|
|
Compliance
|
Federal Consumer Protection
|
CMPFDCP847
|
TILA - ARM Loan Program Disclosure after XXX days from application
|
3
|
|
Compliance
|
Federal Consumer Protection
|
CMPFDCP849
|
TILA - Required ARM Loan Program Disclosure missing
|
3
|
|
Compliance
|
Federal Higher-Priced
|
CMPFDHP1759
|
Federal higher-priced mortgage loan.
|
31
|
|
Compliance
|
State Consumer Protection
|
CMPSTCP115
|
OH CSPA; Closing Disclosure not provided at closing
|
1
|
|
Compliance
|
State Consumer Protection
|
CMPSTCP117
|
OH CSPA; Home Mortgage Information Document not provided
|
1
|
|
Compliance
|
Documentation
|
CMPDOC5455
|
Mortgage Insurance required but MI Certificate is missing
|
1
|
|
Compliance
|
RESPA
|
CMPRESPA863
|
RESPA: Required Affiliate Business Disclosure missing
|
10
|
|
Total
|
161
|
|||
|
©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.
|
||||