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| Exception Grades | ||||||||||||||||||||||||||||||||||||||||||||||||
| Run Date - 7/14/2026 12:18:26 PM | ||||||||||||||||||||||||||||||||||||||||||||||||
| SitusAMC Loan ID | Customer Loan ID | Seller Loan ID | Investor Loan Number | Loan Exception ID | Exception ID | Exception Date | Exception Type | Exception Category | Exception Subcategory | 15E Category | Exception | Exception Detail | Exception Information | Compensating Factors | Compensating Factor Information | Applying Party | Follow-up Comments | Cleared Date | Cured Date | Waived Date | Waived with Regrade | Exception Level Grade | DBRS Initial Exception Rating | DBRS Final Exception Rating | Fitch Initial Exception Rating | Fitch Final Exception Rating | Kroll Initial Exception Rating | Kroll Final Exception Rating | Moody's Initial Exception Rating | Moody's Final Exception Rating | S&P Initial Exception Rating | S&P Final Exception Rating | Note Date | Property State | Occupancy | Purpose | Exception Remediation | Overall Initial Loan Grade |
Overall Final Loan Grade |
Credit Initial Loan Grade |
Credit Final Loan Grade |
Compliance Initial Loan Grade |
Compliance Final Loan Grade |
Property Initial Loan Grade |
Property Final Loan Grade |
Originator QM ATR Status | TPR QM ATR Status | Is Curable |
| [Redacted] | [Redacted] | [Redacted] | 12 | 35155986 | Credit | Missing Document | General | Missing Document | Missing Document: Account Statements - Personal not provided | Account Statements - Personal , Bank - XXXX, Account #[redacted], Balance $[redacted] is missing | Reviewer Comment (2025-11-06): Sufficient reserves are
available in file, hence bank statements are not required of acct#[redacted].
Exception cleared. Buyer Comment (2025-11-04): assets are not needed -removed |
11/06/2025 | No | 1 | C | A | C | A | C | A | C | A | C | A | IL | Primary | Refinance - Cash-out - Other | C | A | C | A | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 12 | 35155984 | Compliance | TRID | Transaction Error | TRID | This loan was reviewed to a limited compliance scope. Some testing for TILA-RESPA Integrated Disclosure (TRID) compliance under the SFA TRID Grid is outside of the scope of review. This exception is for informational purposes only and does not impact grading. | Reviewer Comment (2025-10-24): Client elects to waive |
10/24/2025 | No | 3 | A | A | A | A | A | A | A | A | A | A | IL | Primary | Refinance - Cash-out - Other | C | A | C | A | A | A | A | A | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 11 | 35155991 | Compliance | TRID | Transaction Error | TRID | This loan was reviewed to a limited compliance scope. Some testing for TILA-RESPA Integrated Disclosure (TRID) compliance under the SFA TRID Grid is outside of the scope of review. This exception is for informational purposes only and does not impact grading. | Reviewer Comment (2025-10-29): Client elects to waive. |
10/29/2025 | No | 3 | A | A | A | A | A | A | A | A | A | A | WA | Primary | Refinance - Cash-out - Other | A | A | A | A | A | A | A | A | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 37 | 35949262 | Compliance | Compliance | Federal Compliance | TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form | TILA Notice of Right to Cancel Expiration Date Prior or equal to Disbursement Date | Unable to test RTC expiration date due to missing information. | Expiration date is not listed on the RTC | Reviewer Comment (2026-02-13): Letter of Explanation, Proof
of Delivery, and Re-open Rescission provided Buyer Comment (2026-02-13): closing mgr advised corrected prior to mailing out to borrower. Buyer Comment (2026-02-13): Attached Reviewer Comment (2026-02-12): LOE to borrower and mailing label with tracking that state delivered on [redacted]. However, as noted on [redacted], the RTC forms provided do not have a transaction date, only expiration date. If the incorrect forms were mailed, rescission needs to be re-opened again. Buyer Comment (2026-02-11): CURE DOCS uploaded Buyer Comment (2026-02-11): FED EX Buyer Comment (2026-02-11): FED EX SHIPPING LABEL Buyer Comment (2026-02-11): Cure LOE doc Reviewer Comment (2026-02-06): The RTC form uploaded does not have a transaction date. RTC must be correct with all dates. Rescission will need to be re-opened. Buyer Comment (2026-02-06): RIGHT TO CXL Reviewer Comment (2026-02-05): The new RTC forms were not uploaded to trailing documents. Only the LOE and mailing label in which tracking now shows delivered today which is when recession starts and will need to be [redacted] business days from [redacted]. Buyer Comment (2026-02-05): The RTC docs were included with the LOE Reviewer Comment (2026-02-05): The comments previously indicate only the LOE was mailed to the borrower. The tracking reflects the delivery is set for today but until it is delivered, we cannot indicate if the new rescission starts today. If the RTC forms were not sent in this package to the borrower and only the LOE, then the lender will need to re-open rescission again today. Buyer Comment (2026-02-05): Please confirm recission started today Reviewer Comment (2026-02-03): Received LOE to borrower and mailing label. Mailing label reflects label created. Evidence of delivery is required along new RTC forms with correct dates. Rescission starts the day the borrower receives the new forms. Buyer Comment (2026-02-03): Cure LOE out to borrower Reviewer Comment (2026-01-20): No worries. Please queue the condition once documentation is obtained. Thank you! Buyer Comment (2026-01-20): Sorry, that was an error Reviewer Comment (2026-01-10): Mortgage statements do not clear this condition. This condition pertains to the Right to Cancel disclosure. Buyer Comment (2026-01-09): Mortgage STATEMENTS |
02/13/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CA | Primary | Refinance - Cash-out - Other | TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form | C | B | C | A | C | B | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 37 | 35949263 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Reviewer Comment (2026-02-09): First payment letter
provided Reviewer Comment (2026-02-06): The first payment letter uploaded is for the subject property. This condition is for the second lien P&I verification for the property on [redacted] with a monthly payment of $[redacted]/month (See [redacted], REO Section which reflects lien was taken out with [redacted]). Buyer Comment (2026-02-06): Attached Reviewer Comment (2026-02-05): There was no payment letter uploaded for this additional lien for this REO property. Buyer Comment (2026-02-05): the amount is wrong. Please see the payment letter to the borrower Reviewer Comment (2026-02-05): The statement provided has an address of [redacted] and appears to be for the subject property. This condition is for the second lien P&I verification for the property on [redacted] with a monthly payment of $[redacted]/month (See [redacted], REO Section which reflects lien was taken out with [redacted]). Buyer Comment (2026-02-04): Attached is the billing statement for that address Buyer Comment (2026-02-04): Where are you getting that payment from? Reviewer Comment (2026-02-03): The same statement was provided that was in file at time of review and on [redacted]. We need the statement or other evidence of P&I for the [redacted] lien with a payment of $[redacted]/month. Buyer Comment (2026-02-03): Find attached Buyer Comment (2026-02-03): Per the statement, borrower is making additional payments per month, this the principle would show as reduced each month. Review the mortgage statement. The credit report for loan # ending [redacted]shows a monthly payment of $[redacted]. This occurs when the borrower is applying additional amount to the principle regularly. Buyer Comment (2026-02-03): Shipping Buyer Comment (2026-02-03): Fed EX Label Reviewer Comment (2026-01-21): We have received the same documents that were previously included in the file. Please provide the Mortgage Statement for [redacted], confirming the P&I amount of $[redacted]. Exception remains. Buyer Comment (2026-01-20): [redacted] |
02/09/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | A | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 37 | 35949264 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Reviewer Comment (2026-02-05): Evidence of taxes and
insurance provided Buyer Comment (2026-02-05): Attached Reviewer Comment (2026-01-21): We have received the same documents that were previously included in the file. Please provide the Tax Verification and Insurance Verification for '[redacted]. Exception remains. Buyer Comment (2026-01-20): [redacted] Buyer Comment (2026-01-20): XXXX Buyer Comment (2026-01-20): XXXX DOCS Buyer Comment (2026-01-20): REO DOCS |
02/05/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | A | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 37 | 35949265 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Reviewer Comment (2026-02-05): Statement for [redacted]
property provided for $[redacted] P&I payment verification. Buyer Comment (2026-02-05): Uploaded Reviewer Comment (2026-02-04): Received final closing statement which reflects taxes and insurance and new Note for property on [redacted]. The mortgage statement for the property on [redacted] is for the the lien with a P&I payment of $[redacted]. There is an additional lien taken out with a payment of $[redacted] that needs to be verified. If this is a new lien, then provide the first payment letter or Final CD to verify P&I. Buyer Comment (2026-02-03): I found all the mortgage statements in the docs. Buyer Comment (2026-02-03): I see there are a number of mortgage statements uploaded. Please look in the Vault, it is saying there are [redacted] statements. Reviewer Comment (2026-01-28): Required Mortgage Statement for [redacted] Lien P&I for the property located at "[redacted]" and Tax Verification for REO property '[redacted]'. Exception remains. Buyer Comment (2026-01-26): [redacted] - This loan closed [redacted]. first payment was [redacted].That is after the loan closed. Reviewer Comment (2026-01-21): We have received the same documents that were previously included in the file. Please provide the Mortgage Statement for REO property '[redacted]' confirming the P&I amount of $[redacted] and Tax Verification for REO property '[redacted]'. Exception remains. Buyer Comment (2026-01-20): [redacted] |
02/05/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | A | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190756 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines | Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and [redacted] of [redacted]% moderately exceeds the guideline maximum of [redacted]%. (DTI Exception is eligible to be regraded with compensating factors.) | P&L program requires a [redacted]% expense factor | Reviewer Comment (2026-02-03): Per client confirmation on
guideline interpretation, the P&L program does not require another
expense factor on the net income. Expense = net / gross. DTI is within
guidelines. Buyer Comment (2026-01-30): Please see UW comments on inc worksheet expenses are greater than [redacted]% |
02/03/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190759 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Guideline | Guideline Requirement: Combined loan to value discrepancy. | Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___. | Lender exception in file | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The representative FICO score exceeds the guideline minimum by at least [redacted] points. |
SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-03-11): Client elects to waive with
verified compensation factors |
03/11/2026 | No | 2 | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | ||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190758 | Property | Credit | General | Credit | The property type differs between the valuation documents in file. Unable to verify the property type. Ineligible per guidelines. | The [redacted] provided post review reflects SFD w/o HOA dues. Primary valuation reflects PUD with HOA dues. | Reviewer Comment (2026-03-11): A higher tiered product was
provided reflecting PUD. [redacted] does not need to be updated. |
03/11/2026 | No | 1 | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | |||||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190757 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. Highest level secondary valuation does not support the value used to qualify. Appraisal from current transaction was provided. Sec ID: [redacted] | Note Date: ___; Lien Position: ___ | Reviewer Comment (2026-03-11): Full appraisal provided,
interior exterior to support value of original appraisal. Value is within
[redacted]%. Reviewer Comment (2026-02-12): A [redacted] was provided which is a higher tiered product than the desk review, however it still does not support the value with a difference of -[redacted]%. Condition is incurable. Reviewer Comment (2026-02-11): The same additional desk review was provided that as previously provided. Please review previous comments. Per previous comments, one desk review does not cancel out another, however the additional desk review provided outside of the [redacted] also reflects an unsupported value with a variance of -[redacted]%. Buyer Comment (2026-02-11): see attached Reviewer Comment (2026-02-03): Per previous comments, one desk review does not cancel out another, however the additional desk review provided outside of the [redacted] also reflects an unsupported value with a variance of [redacted]%. Buyer Comment (2026-02-03): [redacted] obtained desk review due to [redacted] Reviewer Comment (2026-02-03): A [redacted] was provided post review is a variance > [redacted]%. There is no other [redacted] valuation in file. However, please note, another desk review will not clear this condition as a desk review does not cancel out another desk review. A higher tiered product will need to be provided with a supported value (i.e. field review, [redacted], [redacted] appraisal). |
03/11/2026 | No | 1 | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | |||||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190755 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Loan does not meet one or more guideline components which could impact the borrower's ability to repay. | Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. | Due to excessive DTI | Reviewer Comment (2026-02-03): Per client confirmation on
guideline interpretation, the P&L program does not require another
expense factor on the net income. Expense = net / gross. DTI is within
guidelines. Buyer Comment (2026-01-30): Please see UW comments on inc worksheet expenses are greater than [redacted]% |
02/03/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190754 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Check Loan Designation Match - ATR Risk | Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. | Due to excessive DTI | Reviewer Comment (2026-02-03): Per client confirmation on
guideline interpretation, the P&L program does not require another
expense factor on the net income. Expense = net / gross. DTI is within
guidelines. Buyer Comment (2026-01-30): Please see UW comments on inc worksheet expenses are greater than [redacted]% |
02/03/2026 | No | 1 | B | A | C | A | B | A | C | A | B | A | CA | Primary | Refinance - Cash-out - Other | Lender to provide updated ATR/QM Loan Designation | D | B | C | B | C | A | D | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190753 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Guideline | Guideline Requirement: Investor qualifying total debt ratio discrepancy. | P&L only program requires a [redacted]% expense factor | Reviewer Comment (2026-02-03): Per client confirmation on
guideline interpretation, the P&L program does not require another
expense factor on the net income. Expense = net / gross. DTI is within
guidelines. Buyer Comment (2026-01-30): Please see UW comments on inc worksheet expenses are greater than [redacted]% |
02/03/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190752 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-01-30): Ev2 |
01/30/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 39 | 36190749 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. Appraisal was provided. [redacted] valuation from subject transaction is missing. . Sec ID: [redacted] | Reviewer Comment (2026-02-03): [redacted] provided. See new
condition Buyer Comment (2026-01-30): [redacted] was ordered and variance was [redacted]% so [redacted] ordered a Desk review which was with the loan documents. |
02/03/2026 | No | 1 | D | A | A | A | D | A | A | D | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | A | D | A | Non QM | Non QM | No | ||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 42 | 36190782 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation | Missing Document: Mortgage Statement(s) not provided | Provide the most recent senior lien mortgage statement as required by guidelines. New lien taken out on [redacted]. | Reviewer Comment (2026-02-12): Borrower refinanced mortgage
lien on [redacted]. Old lien on credit report and FPD [redacted] therefore
mortgage statement would not be available. Note and Closing statement
provided. Lender stated in this instance mortgage statement not required.
Requested clearance. Buyer Comment (2026-02-10): Note and settlement statement were provided from recent refinance. The note reflects the first payment not being due until post- funding of this loan - [redacted]. There was not mortgage statement available to time the file was reviewed. |
02/12/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 42 | 36190783 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Ineligible Senior Lien: Mortgages not reporting on credit. Lender exception in file. (new lien taken out). | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [redacted]%. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [redacted] points. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-01-15): Client elects to waive with
verified compensation factors |
01/15/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 42 | 36190784 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-01-29): [redacted] elects to waive |
01/29/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 42 | 36190785 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit | Guideline Requirement: Maximum Loan Amount discrepancy. | Note loan amount of ___ is greater than Guideline maximum loan amount of ___. | Max for CES | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [redacted]%. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [redacted] points. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-02-11): Client elects to waive with
verified compensation factors Buyer Comment (2026-02-10): Updated the exception form already provided. UW did not add the loan amount to the original letter. The investor approved both the seasoning and loan amount simultaneously |
02/11/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | |||||||
| [Redacted] | [Redacted] | [Redacted] | 46 | 36190871 | Credit | Guideline | Guideline Issue | Guideline | More than [redacted] NSFs/Overdraft Transfers occurred in the most recent [redacted]-month period. | [redacted] NSF's in the past [redacted] months. Lender exception in file. | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has owned the subject property for at least [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [redacted] points. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-01-28): Client elects to waive with
verified compensation factors |
01/28/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 46 | 36190870 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | The Final CD reflects a disbursement date prior to loan consummation. If disbursement date is incorrect, provide the final stamped settlement statement to support. | Reviewer Comment (2026-02-12): Final stamped settlement
statement provided updating disbursement date. Buyer Comment (2026-02-11): Attached |
02/12/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 46 | 36190868 | Credit | Income / Employment | Income Documentation | Income / Employment | Income Docs Missing: | Third party verification document of self-employment dated within [redacted] days of closing was not provided. The Open Corps search and CPA letter in file are not dated. CPA letter is also not on CPA's company letterhead. | Reviewer Comment (2026-02-25): Client comments confirm CPA
letter updated by CPA. Preclose CPA
letter provided. Buyer Comment (2026-02-25): Confirmation from CPA was obtained via email that the CPA updated the date on the letter based on their actual written verification, thank you. Reviewer Comment (2026-02-25): Client comments stating accepting letter not on letterhead due to CPA verification in file. However, Client to provide confirmation (via comments is acceptable) that the CPA letter date was updated by the CPA based on their actual written verification. Once confirmed, condition can be cleared. Buyer Comment (2026-02-23): Date updated on letter per CPA prep date. Also the letterhead item is fine per mgmt as we have third party documentation of the preparer in the file. Do we need something further in the file to document this? Thank you Reviewer Comment (2026-02-23): The CPA letter provided is dated after closing and is also not on the CPA's official company letterhead. Please provide a third-party verification document confirming self-employment, dated within [redacted] days prior to closing. Exception Remains. Buyer Comment (2026-02-19): Attached Reviewer Comment (2026-02-12): The OpenCorp provided is dated post close and > [redacted] days from closing. Buyer Comment (2026-02-11): Attached |
02/25/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 46 | 36190866 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Guideline | Guideline Requirement: Combined loan to value discrepancy. | Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___. | Max [redacted]% CLTV for loan loan amount up to $[redacted] on Investment Bank Statement loans with a [redacted]+ FICO. Lender exception in file. | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has owned the subject property for at least [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [redacted] points. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-01-28): Client elects to waive with
verified compensation factors |
01/28/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | |||||||
| [Redacted] | [Redacted] | [Redacted] | 46 | 36190869 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Title Policy: City reflects [redacted] vs. [redacted] and supplement reflects [redacted]. | Reviewer Comment (2026-02-12): Updated supplement
provided Buyer Comment (2026-02-11): Attached |
02/12/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 49 | 36190910 | Compliance | Compliance | Federal Compliance | TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form | TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date | Truth in Lending Act: Subject loan transaction disbursed on [redacted], prior to [redacted] business days from transaction date of [redacted]. | Disbursement date on Final CD is [redacted] and RTC expiration is [redacted]. If disbursement date on Final CD is incorrect, provide the final stamped settlement statement to support. | Reviewer Comment (2026-03-24): Final stamped settlement
statement provided updating disbursement date. Rescission met. Buyer Comment (2026-03-24): Attached |
03/24/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form | C | B | C | B | C | B | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 49 | 36190911 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-02-03): Ev2 |
02/03/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 49 | 36190912 | Compliance | Loan Package Documentation | Application / Processing | Missing, Incorrect, or Incomplete Final or Initial 1003 | Missing Document: Missing Lender's Initial 1003 | Signed and dated initial 1003 by borrower / LO not provided. | Buyer Comment (2026-02-03): Ev2 |
02/03/2026 | No | 1 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 49 | 36190913 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Guideline | Guideline Requirement: Investor qualifying total debt ratio discrepancy. | Interest only senior liens are acceptable when qualified at a maximum DTI of [redacted]%. Qualify I/O on fully amortized payment on the remaining term after the I/O period. | Reviewer Comment (2026-03-23): Per client, all authorized
user accounts can be excluded. DTI is now within guidelines. |
03/23/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 49 | 36190914 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Check Loan Designation Match - ATR Risk | Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. | Interest only senior liens are acceptable when qualified at a maximum DTI of [redacted]%. Qualify I/O on fully amortized payment on the remaining term after the I/O period. | Reviewer Comment (2026-03-23): Per client, all authorized
user accounts can be excluded. DTI is now within guidelines. |
03/23/2026 | No | 1 | B | A | C | A | B | A | C | A | B | A | CA | Primary | Refinance - Cash-out - Other | Lender to provide updated ATR/QM Loan Designation | C | B | C | B | C | B | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 49 | 36190915 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Loan does not meet one or more guideline components which could impact the borrower's ability to repay. | Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. | Interest only senior liens are acceptable when qualified at a maximum DTI of [redacted]%. Qualify I/O on fully amortized payment on the remaining term after the I/O period. | Reviewer Comment (2026-03-23): Per client, all authorized
user accounts can be excluded. DTI is now within guidelines. |
03/23/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 49 | 36190916 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines | Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and [redacted] of [redacted]% moderately exceeds the guideline maximum of [redacted]%. (DTI Exception is eligible to be regraded with compensating factors.) | Interest only senior liens are acceptable when qualified at a maximum DTI of [redacted]%. Qualify I/O on fully amortized payment on the remaining term after the I/O period. | Reviewer Comment (2026-03-23): Per client, all authorized
user accounts can be excluded. DTI is now within guidelines. |
03/23/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 47 | 36190983 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-02-25): [redacted] is working on this with DOC Magic |
02/25/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 47 | 36190985 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit | Guideline Requirement: Maximum Loan Amount discrepancy. | Note loan amount of ___ is greater than Guideline maximum loan amount of ___. | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [redacted]%. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-02-26): Client elects to waive with
verified compensation factors Buyer Comment (2026-02-25): Exception for LTV |
02/26/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 43 | 36191005 | Credit | Property - Appraisal | General Appraisal Requirements | Property - Appraisal | Subject is a refinance and property is listed for sale. | - | Ineligible - properties listed for sale in the past [redacted] months - Per appraisal property was listed for sale on [redacted] for $[redacted] for [redacted] day and then cancelled on the same day. | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has owned the subject property for at least [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-03-03): Client elects to waive with
verified compensation factors Buyer Comment (2026-03-02): Attached |
03/03/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | |||||||
| [Redacted] | [Redacted] | [Redacted] | 43 | 36191008 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Guideline | Guideline Requirement: Combined loan to value discrepancy. | Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___. | Per matrix, [redacted] unit Investment Closed End Second max is [redacted]%. | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has owned the subject property for at least [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-03-03): Client elects to waive with
verified compensation factors Buyer Comment (2026-03-02): Attached |
03/03/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | |||||||
| [Redacted] | [Redacted] | [Redacted] | 43 | 36191007 | Credit | Insurance | Insurance Analysis | Insurance | Insurance address does not match Note address. | A-D is reflected on HOI vs. all other documents which do not reflect this. | Reviewer Comment (2026-03-17): Updated HOI provided Buyer Comment (2026-03-16): Attached Reviewer Comment (2026-03-16): The HOI uploaded with the correct address does not reflect the second mortgagee + ISAOA Buyer Comment (2026-03-13): HOI Buyer Comment (2026-03-13): attached |
03/17/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 43 | 36191006 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Per the [redacted], there is a [redacted] lien with [redacted] on the above property. If this is a new lien, provide the first payment letter or statement verifying the P&I. If not a new lien, provide the statement to verify P&I and the [redacted] month housing history. | Reviewer Comment (2026-03-03): [redacted] provided. New
lien. Buyer Comment (2026-03-02): Attached |
03/03/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Investment | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | N/A | N/A | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 44 | 36191105 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-02-25): Ev2 - waive per XXXX |
02/25/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 44 | 36191108 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Provide evidence of the P&I for $[redacted]/month on the second lien with [redacted]. If a new lien, provide the first payment letter or Final CD. If not a new lien, provide the statement and [redacted] month housing history. | Reviewer Comment (2026-02-27): Per client email accepting
first payment letter with lower payment and using the higher payment to
qualify as they indicated it is based off the fixed amort. without supplying
the new HELOC agreement. New lien. History not required. |
02/27/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 44 | 36191109 | Compliance | Compliance | Federal Compliance | Other TILA Violations | TILA NMLSR - Individual Originator License Status Not Approved | Truth in Lending Act (NMLSR Dodd- Frank 2014): Individual Loan Originator not in approved license status to conduct loan origination activities. | Per the NMLS lookup, Loan Officer was inactive from [redacted]-[redacted]. The LO must be active from time of application through loan closing with no gaps. Provide an attestation from the LO as to whether or not business was conducted on the loan during the inactive period for review and possible downgrade to an EV2/B. | Reviewer Comment (2026-03-09): Client elects to waive Reviewer Comment (2026-03-06): Confirmed attestation states that no loan origination activity was conducted by the entity during the timeframe there was no approved license. Reviewer Comment (2026-03-04): The LOE needs to include if any business was conducted on the loan during the inactive period. Buyer Comment (2026-03-03): Attached and waive once downgraded |
03/09/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | B | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 45 | 36191111 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-02-27): Same issue |
02/27/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | WI | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 45 | 36191114 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Ineligible Senior Lien: Mortgages not reporting on credit report. Mortgage is under non-borrowing spouse per mortgage statement. | Borrower has been employed in the same industry for more
than [redacted] years. Borrower has owned the subject property for at least [redacted] years. Borrower has verified disposable income of at least $[redacted]. Borrower has worked in the same position for more than [redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [redacted]%. The qualifying DTI on the loan is at least [redacted]% less than the guideline maximum. The refinance has decreased the borrower's monthly debt payments by [redacted]% or more. The representative FICO score exceeds the guideline minimum by at least [redacted] points. |
SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC |
Reviewer Comment (2026-03-04): Client elects to waive with
verified compensation factors Buyer Comment (2026-03-03): Exception |
03/04/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | WI | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 45 | 36191115 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Provide evidence property is free and clear. | Reviewer Comment (2026-03-03): Property profile report
provided reflecting free and clear. Reviewer Comment (2026-03-03): This is not a duplicate condition Buyer Comment (2026-02-27): Duplicate condition Buyer Comment (2026-02-27): [redacted] #[redacted] |
03/03/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | WI | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 48 | 36191182 | Credit | Insurance | Insurance Analysis | Insurance | Insufficient Coverage: Hazard insurance coverage amount is insufficient. | RCE in file is from [redacted]. Provided the updated RCE. | Reviewer Comment (2026-03-11): Updated RCE provided Buyer Comment (2026-03-11): see attached |
03/11/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 48 | 36191181 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-03-11): OK. to waive per [redacted] |
03/11/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 48 | 36191180 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Loan does not meet one or more guideline components which could impact the borrower's ability to repay. | Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. | 1) [redacted] Business Narrative Required 2) Preparer verification not provided. | Reviewer Comment (2026-03-13): Business narrative
provided Buyer Comment (2026-03-13): see attached Reviewer Comment (2026-03-11): Received [redacted] verification. Pending receipt of business narrative which is a requirement in the CES guidelines dated [redacted], on page [redacted] under [redacted] P&L only restrictions. Buyer Comment (2026-03-11): see attached ; business narrative not req only on business bank stmt |
03/13/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | A | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 48 | 36191177 | Credit | Income / Employment | Income Documentation | Income / Employment | Income Docs Missing: | - | 1) [redacted] Business Narrative Required 2) Preparer verification not provided. | Reviewer Comment (2026-03-13): Business narrative
provided Buyer Comment (2026-03-13): see attached Reviewer Comment (2026-03-11): Received [redacted] verification. Pending receipt of business narrative which is a requirement in the CES guidelines dated [redacted], on page [redacted] under [redacted] P&L only restrictions. Buyer Comment (2026-03-11): see attached Buyer Comment (2026-03-11): business narrative only needed when using business bank stmts |
03/13/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | C | A | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 48 | 36191179 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Check Loan Designation Match - ATR Risk | Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. | 1) [redacted] Business Narrative Required 2) Preparer verification not provided. | Reviewer Comment (2026-03-13): Business narrative
provided Buyer Comment (2026-03-13): see attached Reviewer Comment (2026-03-11): Received [redacted] verification. Pending receipt of business narrative which is a requirement in the CES guidelines dated [redacted], on page [redacted] under [redacted] P&L only restrictions. Buyer Comment (2026-03-11): see attached -business narrative not required -only on business bank stmt |
03/13/2026 | No | 1 | B | A | C | A | B | A | C | A | B | A | CA | Primary | Refinance - Cash-out - Other | Lender to provide updated ATR/QM Loan Designation | C | B | C | B | C | A | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 125 | 36421978 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-03-12): ok to waive per [redacted] |
03/12/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | B | B | B | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 124 | 36421983 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-03-18): Waive |
03/18/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 124 | 36421984 | Credit | Legal / Regulatory / Compliance | Title / Lien Defect | Title | Title Policy is Preliminary or Commitment, and not a Final Title Policy. | Reviewer Comment (2026-03-19): FTP provided |
03/19/2026 | No | 1 | A | A | A | A | A | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 124 | 36421987 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Provide the clear title policy. Second lien on title not paid through closing, item [redacted]. | Reviewer Comment (2026-03-19): FTP provided Buyer Comment (2026-03-18): Final Title |
03/19/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 123 | 36421988 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-03-18): EV 2 |
03/18/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 123 | 36421995 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Provide the Final CD/Settlement statement to support the new payment for the property on [redacted]. The Final CD must also support the payoffs of the lien on credit tied to this property with [redacted] #[redacted] for $[redacted]/month. | Reviewer Comment (2026-03-25): Corrected 1003 provided
along with Final CD for refinance of [redacted] property verifying PITIA
which was previously free and clear. Buyer Comment (2026-03-24): Please see attached. [redacted] was a refi on a free and clear property Buyer Comment (2026-03-24): See attached. The transaction on [redacted] was a cashout on a free and clear property. Reviewer Comment (2026-03-18): 1) Provide page [redacted] of the corrected [redacted] adding in the XXXX properties. [redacted]lien #[redacted] belongs on XXXX property as noted on corrected [redacted] and mortgage statement 2) Provide the Final CD/Settlement statement to verify the new payment (PITIA) on [redacted] if a new purchase. Previous [redacted] reflected a lien for $[redacted]/month not on credit or provide evidence of free and clear. If not free and clear or a new purchase, [redacted] month housing history will be required. Buyer Comment (2026-03-18): See the attached [redacted] statement of $[redacted]. Buyer Comment (2026-03-18): The uploaded and signed 1003 also shows the new property on [redacted] Buyer Comment (2026-03-18): See the attached [redacted] with the $[redacted] listed under Section [redacted] |
03/25/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 123 | 36421996 | Credit | Income / Employment | Income Documentation | Missing Document | REO Documents are missing. | - | Provide evidence of [redacted] for the property on [redacted]. Mortgage lien appears on borrower's credit and cannot match any payments to this lien from the business bank statements in file. Debt to also be added to the 1003 REO section. | Reviewer Comment (2026-03-25): Evidence if TIA provided Buyer Comment (2026-03-24): Attached but already included in the DTI Buyer Comment (2026-03-24): Attached Reviewer Comment (2026-03-18): The Final CD was provided for this property along with updated 1003 adding in debt. However, the T&I are not escrowed as well as reflects HOA on page 1. Evidence of taxes, insurance and HOA is required to be added to the DTI. Buyer Comment (2026-03-18): See the attached mortgage statement showing taxes and insurance are not being collected Buyer Comment (2026-03-18): See the attached CD. The taxes and insurance are non-escrowed on Page [redacted], and Page [redacted] showing the mortgage . Buyer Comment (2026-03-18): See the attached [redacted], Section [redacted] and [redacted] with the liens listed from Page [redacted] of the title commitment and the credit report, that Debt to also be added to the [redacted] REO section. |
03/25/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | B | A | A | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 126 | 36422001 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. No appraisal or hybrid interior appraisal was provided with an effective date between application date and note date. Sec ID: [redacted] | Note Date: ___; Lien Position: ___ | Interior inspection required for Securitization. | Buyer Comment (2026-03-30): loan is not to be
securitized |
03/30/2026 | No | 2 | A | A | A | A | A | A | B | B | AZ | Primary | Refinance - Cash-out - Other | B | B | A | A | A | A | B | B | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 122 | 36422006 | Credit | Legal / Regulatory / Compliance | Title / Lien Defect | Title | Title Policy is Preliminary or Commitment, and not a Final Title Policy. | The file was missing a copy of the final title policy. | 04/22/2026 | No | 1 | A | A | A | A | A | A | A | A | A | A | CT | Primary | Refinance - Cash-out - Other | C | B | C | A | C | B | A | A | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 122 | 36422008 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | Provide the clear title. Taxes due [redacted] for $[redacted] are not delinquent along with unpaid [redacted] taxes for $[redacted]. | Reviewer Comment (2026-04-22): Lenders correspondent
[redacted] states will show paid onces FTP is completed Buyer Comment (2026-04-16): see attached Reviewer Comment (2026-04-02): The FTP provided is not for the subject property or borrower. Buyer Comment (2026-04-01): see attached |
04/22/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CT | Primary | Refinance - Cash-out - Other | C | B | C | A | C | B | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 122 | 36422005 | Compliance | Compliance | Federal Compliance | TRID Defect | TRID Final Closing Disclosure Finance Charge | TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [redacted] disclosed an inaccurate Finance Charge on page [redacted] that does not match the actual Finance Charge for the loan. The disclosed Finance Charge in the amount of $[redacted] is under disclosed by $[redacted] compared to the calculated Finance Charge of $[redacted] which exceeds the $[redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [redacted]). | The disclosed Finance Charge in the amount of $[redacted] is under disclosed by $[redacted] compared to the calculated Finance Charge of $[redacted]. | Reviewer Comment (2026-04-15): [redacted] received PCCD,
LOE, Copy of Refund Check, Re-opening of Rescission and Proof of Receipt. Buyer Comment (2026-04-14): see attached |
04/15/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CT | Primary | Refinance - Cash-out - Other | TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission (required on rescindable transactions) | C | B | C | A | C | B | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 122 | 36422004 | Compliance | Compliance | Federal Compliance | TRID Defect | TRID Final Closing Disclosure Amount Financed Test | TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[redacted] is over disclosed by $[redacted] compared to the calculated Amount Financed of $[redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [redacted]). | The disclosed Amount Financed in the amount of $[redacted] is over disclosed by $[redacted] compared to the calculated Amount Financed of $[redacted]. | Reviewer Comment (2026-04-15): [redacted] received PCCD,
LOE, Copy of Refund Check, Re-opening of Rescission and Proof of Receipt. Buyer Comment (2026-04-14): see attached Reviewer Comment (2026-04-09): Cure package must show as delivered timely for the RTC and [redacted] must receive a copy of the refund check to complete the cure process. Buyer Comment (2026-04-08): Attached |
04/15/2026 | No | 2 | C | B | C | B | C | B | C | B | C | B | CT | Primary | Refinance - Cash-out - Other | TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission (required on rescindable transactions) | C | B | C | A | C | B | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 163 | 36422012 | Compliance | Compliance | Federal Compliance | TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form | TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date | Truth in Lending Act: Subject loan transaction disbursed on [redacted], prior to [redacted] business days from transaction date of [redacted]. | The Final CD reflects a disbursement date of [redacted] and RTC expiration date is [redacted]. If disbursement date on the Final CD is incorrect, provide the final stamped settlemetn statement to support. | Reviewer Comment (2026-04-07): The final settlement
statement was provdied Buyer Comment (2026-04-02): Please see the attached Final stamped Settlement Statement with a disbursement date of [redacted]. |
04/07/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form | D | B | D | B | C | A | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 163 | 36422014 | Credit | Loan Package Documentation | Application / Processing | Missing Document | Missing Document: Other not provided | A gap credit report provided within [redacted] days of closing is missing from file. | Reviewer Comment (2026-04-07): A gap report was
provided. Buyer Comment (2026-04-06): Please see the attached report |
04/07/2026 | No | 1 | C | A | C | A | C | A | C | A | D | A | CA | Primary | Refinance - Cash-out - Other | D | B | D | B | C | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 163 | 36422015 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-04-02): EV 2 |
04/02/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | D | B | D | B | C | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 164 | 36422018 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. No appraisal or hybrid interior appraisal was provided with an effective date between application date and note date. Sec ID: [redacted] | Note Date: ___; Lien Position: ___ | Securitization requires an interior inspection | Buyer Comment (2026-04-09): [redacted] elects to waive Reviewer Comment (2026-04-09): The LOE doe not clear this condition. What Securitization requires is not the same what the guidelines require. Securitization requires an interior inspection. Client can elect to waive as an EV2/B. Buyer Comment (2026-04-07): see attached |
04/09/2026 | No | 2 | A | A | A | A | A | A | B | B | CA | Primary | Refinance - Cash-out - Other | B | B | B | B | A | A | B | B | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 164 | 36422022 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-04-07): [redacted] elects to waive.
This is not an FNMA/FHLMC |
04/07/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | B | B | B | B | A | A | B | B | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 165 | 36422025 | Credit | Insurance | Insurance Analysis | Insurance | Insufficient Coverage: Hazard insurance coverage amount is insufficient. | HOI coverage is insufficient by $[redacted]. Provide updated policy reflecting minimum coverage of Original Loan Amount $[redacted] OR provide copy of insurer's replacement cost estimate supporting current coverage amount | Reviewer Comment (2026-04-09): RCE provided Buyer Comment (2026-04-08): Attached |
04/09/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | C | B | C | A | A | A | B | B | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 165 | 36422028 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. No appraisal or hybrid interior appraisal was provided with an effective date between application date and note date. Sec ID: [redacted] | Note Date: ___; Lien Position: ___ | Securitization requires an interior inspection | Buyer Comment (2026-04-09): [redacted] elects to waive Reviewer Comment (2026-04-09): The same AVM's were provided that were in file at time of review and on [redacted]. Securitization requires an interior inspection. [redacted] can elect to waive as-is as an EV2/B. Buyer Comment (2026-04-09): see attached Reviewer Comment (2026-04-09): The same AVM's were provided that were in file at time of review. Securitization requires an interior inspection. [redacted] can elect to waive as-is as an EV2/B. Buyer Comment (2026-04-07): see attached |
04/09/2026 | No | 2 | A | A | A | A | A | A | B | B | CA | Primary | Refinance - Cash-out - Other | C | B | C | A | A | A | B | B | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608445 | Credit | Loan Package Documentation | Closing / Title | Loan Package Documentation | Security Instrument is not on a FNMA/FHLMC form and does not contain the following clauses: | ___ | Buyer Comment (2026-04-16): Ok to waive per [redacted] |
04/16/2026 | No | 2 | B | B | B | B | B | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | B | D | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608451 | Compliance | Compliance | Federal Compliance | Federal HPML | (Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer) | TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant [redacted] business days prior to consummation. | Buyer Comment (2026-04-29): ok to waive |
04/29/2026 | No | 2 | B | B | B | B | B | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | B | D | A | Non QM | Non QM | No | |||||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608449 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. Appraisal was provided. [redacted] valuation from subject transaction is missing. . Sec ID: [redacted] | Reviewer Comment (2026-04-20): Received and associated CDA
Document for the subject property. Exception cleared. Buyer Comment (2026-04-16): see attached |
04/20/2026 | No | 1 | D | A | A | A | D | A | A | D | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | B | D | A | Non QM | Non QM | No | ||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608448 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Loan does not meet one or more guideline components which could impact the borrower's ability to repay. | Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. | Verification of SE business within [redacted] days prior to closing not provided. | Reviewer Comment (2026-04-27): Received Third Party
Verification. Exception cleared. Buyer Comment (2026-04-16): see attached |
04/27/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | B | D | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608446 | Credit | Income / Employment | Income Documentation | Income / Employment | Income Docs Missing: | - | Verification of SE business within [redacted] days prior to closing not provided. | Reviewer Comment (2026-04-27): Received Third Party
Verification. Exception cleared. Buyer Comment (2026-04-23): see attached Reviewer Comment (2026-04-20): Required third-Party Verification for the business within [redacted] days of closing. Exception Remains. Buyer Comment (2026-04-16): see attached |
04/27/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | B | D | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608441 | Compliance | Compliance | Federal Compliance | Federal HPML | (Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer) | TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant [redacted] business days prior to consummation. | Reviewer Comment (2026-04-29): Received and associated
Appraiser Notice confirming that the appraisal was sent to borrower on
[redacted]. Exception cleared. Buyer Comment (2026-04-27): see attached Reviewer Comment (2026-04-20): We received proof of delivery for the appraisal dated [redacted]. Please provide the Appraiser Notice or updated proof of delivery reflecting a date on or after [redacted]. Exception remains. Buyer Comment (2026-04-16): see attached |
04/29/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | B | D | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608440 | Compliance | Compliance | Federal Compliance | Federal HPML | Federal HPML [redacted] Non Compliant | Federal Higher-Priced Mortgage Loan: APR on subject loan of [redacted]% or Final Disclosure APR of [redacted]% is equal to or greater than the threshold of APOR [redacted]% + [redacted]%, or [redacted]%. Non-Compliant Higher Priced Mortgage Loan. | Reviewer Comment (2026-04-29): Received preliminary
appraisal and evidence of receipt. Condition cleared. Buyer Comment (2026-04-29): please see original appraisal and delivery cert. Reviewer Comment (2026-04-29): Received evidence of borrower's receipt of the appraisal on [redacted], however that would not be at least [redacted] business days prior to closing. If there was a preliminary appraisal with evidence of borrower's receipt of that report, please provide those items and loan can be re-ran to determine compliance. Buyer Comment (2026-04-16): see attached |
04/29/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | B | C | B | C | B | D | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 313 | 36608447 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Check Loan Designation Match - ATR Risk | Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. | Verification of SE business within [redacted] days prior to closing not provided. | Reviewer Comment (2026-04-27): Received Third Party
Verification. Exception cleared. Buyer Comment (2026-04-16): see attached |
04/27/2026 | No | 1 | B | A | C | A | B | A | C | A | B | A | CA | Primary | Refinance - Cash-out - Other | Lender to provide updated ATR/QM Loan Designation | D | B | C | B | C | B | D | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 310 | 36608594 | Compliance | Compliance | State Compliance | Misc. State Level | Colorado Home Loan (Ability to Repay not Verified) | [redacted] Home Loan ([redacted]): Borrower's ability to repay not verified with reliable documentation. | Reviewer Comment (2026-05-15): Re-validated compliance data
questions and documents as per requirement. Exception cleared. Buyer Comment (2026-05-13): see attached |
05/15/2026 | No | 1 | B | A | B | A | B | A | B | A | B | A | CO | Primary | Refinance - Cash-out - Other | C | B | C | A | B | A | B | B | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 310 | 36608596 | Compliance | TRID | Transaction Error | TRID | This loan was reviewed to a limited compliance scope. Some testing for TILA-RESPA Integrated Disclosure (TRID) compliance under the SFA TRID Grid is outside of the scope of review. This exception is for informational purposes only and does not impact grading. | Reviewer Comment (2026-04-27): Client elects to waive. |
04/27/2026 | No | 3 | A | A | A | A | A | A | A | A | A | A | CO | Primary | Refinance - Cash-out - Other | C | B | C | A | B | A | B | B | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 310 | 36608597 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. No appraisal or hybrid interior appraisal was provided with an effective date between application date and note date. Sec ID: [redacted] | Note Date: ___; Lien Position: ___ | Buyer Comment (2026-05-11): [redacted] elects to waive. |
05/11/2026 | No | 2 | A | A | A | A | A | A | B | B | CO | Primary | Refinance - Cash-out - Other | C | B | C | A | B | A | B | B | Non QM | Non QM | No | ||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 310 | 36608598 | Credit | Credit | Miscellaneous | Guideline | Credit Exception: | File is missing a signed/dated close out letter for the Heloc paid at closing. | Reviewer Comment (2026-05-15): Cleared. Received close out
letter for the Heloc Buyer Comment (2026-05-13): see attached |
05/15/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CO | Primary | Refinance - Cash-out - Other | C | B | C | A | B | A | B | B | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 312 | 36608608 | Compliance | TRID | Transaction Error | TRID | This loan was reviewed to a limited compliance scope. Some testing for TILA-RESPA Integrated Disclosure (TRID) compliance under the SFA TRID Grid is outside of the scope of review. This exception is for informational purposes only and does not impact grading. | Reviewer Comment (2026-05-05): waived |
05/05/2026 | No | 3 | A | A | A | A | A | A | A | A | A | A | NV | Primary | Refinance - Cash-out - Other | B | B | A | A | A | A | B | B | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 312 | 36608609 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal | Loan is to be securitized. No appraisal or hybrid interior appraisal was provided with an effective date between application date and note date. Sec ID: [redacted] | Note Date: ___; Lien Position: ___ | Buyer Comment (2026-05-06): loan is not to be
securitized |
05/06/2026 | No | 2 | A | A | A | A | A | A | B | B | NV | Primary | Refinance - Cash-out - Other | B | B | A | A | A | A | B | B | Non QM | Non QM | No | ||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 311 | 36608613 | Credit | Legal / Regulatory / Compliance | Title / Lien Defect | Title | Title Policy is Preliminary or Commitment, and not a Final Title Policy. | The file was missing a copy of the final title policy. | Reviewer Comment (2026-05-11): Received final title.
Exception cleared. |
05/11/2026 | No | 1 | A | A | A | A | A | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | B | A | B | A | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 311 | 36608615 | Compliance | TRID | Transaction Error | TRID | This loan was reviewed to a limited compliance scope. Some testing for TILA-RESPA Integrated Disclosure (TRID) compliance under the SFA TRID Grid is outside of the scope of review. This exception is for informational purposes only and does not impact grading. | Reviewer Comment (2026-05-05): waived |
05/05/2026 | No | 3 | A | A | A | A | A | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | B | A | B | A | A | A | A | A | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 311 | 36608614 | Credit | Title | Document Error | Title | The Commitment or Preliminary title policy is within [redacted] or [redacted] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided. | The preliminary title report in the file did not disclose the amount of title insurance coverage. Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount. | Reviewer Comment (2026-05-11): Received final title.
Exception cleared. Buyer Comment (2026-05-07): see attached FTP |
05/11/2026 | No | 1 | B | A | B | A | B | A | B | A | B | A | CA | Primary | Refinance - Cash-out - Other | B | A | B | A | A | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 361 | 36608675 | Compliance | TRID | Transaction Error | TRID | This loan was reviewed to a limited compliance scope. Some testing for TILA-RESPA Integrated Disclosure (TRID) compliance under the SFA TRID Grid is outside of the scope of review. This exception is for informational purposes only and does not impact grading. | Reviewer Comment (2026-05-21): waived |
05/21/2026 | No | 3 | A | A | A | A | A | A | A | A | A | A | CA | Investment | Refinance - Cash-out - Other | A | A | A | A | A | A | A | A | N/A | N/A | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 673 | 36922622 | Credit | Legal / Regulatory / Compliance | Title / Lien Defect | Title | Title Policy is Preliminary or Commitment, and not a Final Title Policy. | Title Evidence: ___ | Reviewer Comment (2026-05-11): EV1. |
05/11/2026 | No | 1 | A | A | A | A | A | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | D | A | D | A | C | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 673 | 36922623 | Credit | Loan Package Documentation | Closing / Title | Missing Document | Missing Document: Security Instrument - Subject Lien not provided | Reviewer Comment (2026-05-11): Security instrument provided
for subject property, Exception cleared. Buyer Comment (2026-05-08): uploaded Reviewer Comment (2026-05-07): Security instrument provided [redacted] is of loan amount $[redacted], Provide security instrument with subject lien amount $[redacted], Exception remains. Buyer Comment (2026-05-05): Security Instrument in uploaded closing package. [redacted] |
05/11/2026 | No | 1 | D | A | D | A | D | A | D | A | D | A | CA | Primary | Refinance - Cash-out - Other | D | A | D | A | C | A | A | A | Non QM | Non QM | No | |||||||||||
| [Redacted] | [Redacted] | [Redacted] | 673 | 36922624 | Compliance | TRID | Transaction Error | TRID | This loan was reviewed to a limited compliance scope. Some testing for TILA-RESPA Integrated Disclosure (TRID) compliance under the SFA TRID Grid is outside of the scope of review. This exception is for informational purposes only and does not impact grading. | 05/05/2026 | No | 2 | A | A | A | A | A | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | D | A | D | A | C | A | A | A | Non QM | Non QM | No | ||||||||||||
| [Redacted] | [Redacted] | [Redacted] | 673 | 36922626 | Compliance | Compliance | Federal Compliance | Compliance | Subject to Rescission | Loan is subject to Rescission. | Reviewer Comment (2026-05-11): EV1. |
05/11/2026 | No | 1 | A | A | A | A | A | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | D | A | D | A | C | A | A | A | Non QM | Non QM | No | ||||||||||
| [Redacted] | [Redacted] | [Redacted] | 673 | 36922627 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | General Ability to Repay - Bank Statement Guidelines Require [redacted] or more Months | Ability to Repay (Dodd-Frank 2014): Guidelines require [redacted] or more consecutive months bank statements. | Borrower qualified using Alt Doc [redacted] months bank statements. | Reviewer Comment (2026-05-11): EV1. |
05/11/2026 | No | 1 | A | A | A | A | A | A | A | A | A | A | CA | Primary | Refinance - Cash-out - Other | D | A | D | A | C | A | A | A | Non QM | Non QM | No | |||||||||
| [Redacted] | [Redacted] | [Redacted] | 673 | 36922628 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Check Loan Designation Match - ATR Risk | Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. | Loan Designation failure due to ATR failure. This exception will be cleared once all ATR specific exceptions have been cured/cleared | Reviewer Comment (2026-05-05): Transcripts were not
required. |
05/05/2026 | No | 1 | B | A | C | A | B | A | C | A | B | A | CA | Primary | Refinance - Cash-out - Other | Lender to provide updated ATR/QM Loan Designation | D | A | D | A | C | A | A | A | Non QM | Non QM | No | ||||||||
| [Redacted] | [Redacted] | [Redacted] | 673 | 36922629 | Compliance | Compliance | Federal Compliance | ATR/QM Defect | Loan does not meet one or more guideline components which could impact the borrower's ability to repay. | General Ability to Repay Provision: Loan does not meet one or more guideline components which could impact the borrower's ability to repay. | [redacted]: ATR failure due to [redacted] Transcript requirement. Transcripts are not required, please override exception. This exception will be cleared once all ATR specific exceptions have been cured/cleared | Reviewer Comment (2026-05-05): Transcripts were not
required. |
05/05/2026 | No | 1 | C | A | C | A | C | A | C | A | C | A | CA | Primary | Refinance - Cash-out - Other | D | A | D | A | C | A | A | A | Non QM | Non QM | No |