EFMT DEPOSITOR LLC ABS-15G

Exhibit 99.01 - Schedule 2

 

 

Exception Grades
Run Date - 7/21/2026 11:06:51 AM
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
xxx 2168030 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Per lender guidelines for short term rental income, there is to be a minimum [redacted] month rental history and the DSCR is to calculated on the average actual rental income over the [redacted] months. This is missing from the file. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[redacted].
Reserves: [redacted]
Guideline Requirement: [redacted]

Debt Service Coverage Ratio: [redacted]
Guideline Requirement: [redacted]
Aggregator,SitusAMC

Aggregator,SitusAMC
Reviewer Comment (2026-04-17): Client elects to waive with compensating factors.


Buyer Comment (2026-04-15): see attached
    04/17/2026 No 2 C B C B C B C B C B   AZ Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2161491 xxx   XXXX     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard Insurance coverage is short by $[redacted] Please provide evidence of updated coverage.       Reviewer Comment (2026-04-01): Received updated hazard insurance policy. Exception Cleared


Buyer Comment (2026-03-26): updated HOI for $[redacted]


Reviewer Comment (2026-03-23): Total coverage from both policies is $[redacted] RCE shows $[redacted] resulting in a shortfall of $[redacted] Either policy can be updated.


Buyer Comment (2026-03-17): Both policies cover the REC? Not certain which one is short please advise
04/01/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2161491 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   The subject property consists of [redacted] units. The appraisal indicates the units are leased, but lease agreement were not provided and required by guidelines.       Reviewer Comment (2026-03-23): Appraisal shows STR, vacation rental income statement provided.


Buyer Comment (2026-03-17): The appraiser does have it marked as tenant occupied but also states in the report that it is a STR which we have documentation that supports.  There is also a STR analysis as part of the appraisal. There are no leases given this property is a Short-Term Rental
03/23/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2144113 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Verification of Non-[redacted]  Citizen Status not provided   Verification of Non-[redacted]  Citizen Status is missing       Reviewer Comment (2025-09-23): Corrected [redacted]


Buyer Comment (2025-09-19): signed [redacted]


Buyer Comment (2025-09-19): certificate


Buyer Comment (2025-09-19): US passport
09/23/2025     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2144102 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Employer Identification Number (EIN) not provided           Reviewer Comment (2025-10-14): Per lender documentation, guarantor uses personal SSN in lieu of EIN.


Buyer Comment (2025-10-14): EIN email
10/14/2025     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2142363 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-03-04): Received Occupancy Certificate. Exception Cleared.


Buyer Comment (2026-03-02): Non-owner
03/04/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2162967 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for business entity.       Reviewer Comment (2026-03-19): OFAC for business entity received and verified the details. Exception Cleared.


Buyer Comment (2026-03-17): Please see attached doc.
03/19/2026     No 1 C A C A C A C A C A   WA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162967 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Spousal Consent Form not provided           Reviewer Comment (2026-04-24): Received guarantee agreement signed by spouse. Exception cleared.


Buyer Comment (2026-04-22): PFA


Reviewer Comment (2026-03-19): Guarantor agreement is not executed by borrower's spouse. Please provide executed copy or Spousal Consent Form. Exception remains.


Buyer Comment (2026-03-17): The loan is closing in the name of the LLC, and the guaranty document has already been provided. Please refer to Document ID: D-[redacted].
04/24/2026     No 1 C A C A C A C A C A   WA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162967 xxx   XXXX     Credit Business Purpose General Business Purpose Missing Document: Spousal Consent not provided. -         Reviewer Comment (2026-04-24): Received guarantee agreement signed by spouse. Exception cleared.


Buyer Comment (2026-04-22): PFA


Reviewer Comment (2026-03-19): Guarantor agreement is not executed by borrower's spouse. Please provide executed copy or Spousal Consent Form. Exception remains.


Buyer Comment (2026-03-17): The loan is closing in the name of the LLC, and the guaranty document has already been provided. Please refer to Document ID: D-[redacted].
04/24/2026     No 1 C A C A C A C A C A   WA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162967 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Provide the final Closing Statement fully executed by the all parties or stamped true and certified. Copy provided is an estimated closing statement.       Reviewer Comment (2026-04-01): Received final closing statement. Exception cleared.


Buyer Comment (2026-03-30): PFA
04/01/2026     No 1 D A D A D A D A D A   WA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162975 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Verification of Non-[redacted]  Citizen Status not provided           Reviewer Comment (2026-05-08): Updated credit application reflecting US Citizen received in trailing docs.


Buyer Comment (2026-05-07): Please see attached.
05/08/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2162975 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Guidelines require all mortgages to be verified up to the month of closing. Missing VOM for [redacted] #[redacted] for [redacted] [redacted]. DLA [redacted]. Loan Closed in [redacted] [redacted].       Reviewer Comment (2026-03-30): Housing history verification is not required for REO properties. Exception cleared.


Buyer Comment (2026-03-26): please re-review the guideline for Accelerator DSCR [redacted] Yr Fixed, we don't require VOM for REO properties.
03/30/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2162969 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Missing final closing statement signed by all parties.       Reviewer Comment (2026-04-13): Received final closing statement. Exception cleared.


Buyer Comment (2026-04-09): Please find attached
04/13/2026     No 1 C A C A C A C A C A   OR Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2162969 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide evidence of the [redacted]/[redacted] payments from [redacted] and the [redacted]/[redacted] payment from [redacted].       Reviewer Comment (2026-04-30): Client elects to close with the missing [redacted] payment. Guidelines permit [redacted]. [redacted] payment verified.


Reviewer Comment (2026-04-28): Received evidence of payment from [redacted]. Provide lender exception if unable to provide evidence of [redacted]/[redacted] payment. Exception remains


Buyer Comment (2026-04-24): program permits [redacted] with no reduction; we don't have evidence of  [redacted]/[redacted] payment.


Buyer Comment (2026-04-24): Statement dated [redacted] and next payment due [redacted]
04/30/2026     No 1 C A C A C A C A C A   OR Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2162970 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Spousal Consent Form not provided           Reviewer Comment (2026-04-30): Spousal consent provided.


Reviewer Comment (2026-04-29): Received document is a Guaranty Agreement document. Spouse consent form is required to clear the condition. Exception remains.


Buyer Comment (2026-04-27): Guaranty
04/30/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2162970 xxx   XXXX     Credit Business Purpose General Business Purpose Missing Document: Spousal Consent not provided. -         Reviewer Comment (2026-04-30): Spousal consent provided.


Reviewer Comment (2026-04-29): Received document is a Guaranty Agreement document. Spouse consent form is required to clear the condition. Exception remains.


Buyer Comment (2026-04-27): see attached guaranty
04/30/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2162978 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   For the primary residence, provide either a full [redacted] month pay history or a property report verifying it is owned free and clear prior to the current mortgage.       Reviewer Comment (2026-04-29): [redacted] month pay history verified, exception cleared.


Buyer Comment (2026-04-26): Please see.


Reviewer Comment (2026-04-15): Required property profile report to verify the prior mortgage [redacted] has been released. Exception remains.


Buyer Comment (2026-04-13): Please see attached.
04/29/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162978 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Estimated HUD provided.       Reviewer Comment (2026-04-15): Received Final closing statement. Exception Cleared


Buyer Comment (2026-04-14): Please find attached the final SS.
04/15/2026     No 1 D A D A D A D A D A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162976 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Provide evidence of signing authority. Documents is required to be signed by all owners of the borrowing entity.       Reviewer Comment (2026-04-22): Provided corporate resolution. Exception cleared.


Buyer Comment (2026-04-20): Corp resolution
04/22/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2162976 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided           Reviewer Comment (2026-05-08): Certificate of Formation received in trailing docs.


Buyer Comment (2026-05-07): Certificate of Formation


Reviewer Comment (2026-04-14): Provided document is certificate of filing, which was already available on file at initial review. Please provide Articles of Organization/Formation, as these documents are not one in the same.


Buyer Comment (2026-04-10): certificate of filing
05/08/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2162976 xxx   XXXX     Credit Credit Credit Calculation / Analysis Guideline Guideline Requirement: Representative FICO score discrepancy.   Loan amount over [redacted] million and DSCR below [redacted] requires a [redacted] FICO to go to [redacted]%LTV.       Reviewer Comment (2026-04-16): Lender provided correct [redacted]/[redacted] matrix which allows credit score of [redacted].


Reviewer Comment (2026-04-15): On the [redacted]/[redacted] matrix, a cash-out refi with a loan amount between $[redacted] and $[redacted] still requires and a DSCR between .[redacted] and .[redacted] still requires a [redacted] credit score.


Reviewer Comment (2026-04-14): The matrix dated [redacted] was not found in the guidelines or deal notes. Exception Remains.


Buyer Comment (2026-04-10): loan closed [redacted]; Eligible to use [redacted] matrix;
04/16/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2162984 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   The notary did not disclose the date [redacted]       Reviewer Comment (2026-04-29): Cleared per provided document stating [redacted] does not require the commission expiration date [redacted]


Buyer Comment (2026-04-29): email from [redacted]
04/29/2026     No 1 C A C A C A C A C A   WI Investment Purchase   D A D A     A A   N/A No
xxx 2162984 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide verification of the [redacted]/[redacted] payment for the primary residence.       Reviewer Comment (2026-04-28): Received Credit Supplement. Exception Cleared.


Buyer Comment (2026-04-24): credit supplement
04/28/2026     No 1 C A C A C A C A C A   WI Investment Purchase   D A D A     A A   N/A No
xxx 2162984 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   The address [redacted]       Reviewer Comment (2026-05-04): Correct Note received and verified the details. Exception Cleared.


Buyer Comment (2026-04-30): title email


Buyer Comment (2026-04-30): destroyed note affidavit


Reviewer Comment (2026-04-29): Along with the corrected Note, an LOE and proof of delivery to borrower prior to new Note signature date [redacted], and destroyed Note affidavit will be required.


Buyer Comment (2026-04-29): note
05/04/2026     No 1 D A D A D A D A D A   WI Investment Purchase   D A D A     A A   N/A No
xxx 2162984 xxx   XXXX     Credit System General System Security Instrument address [redacted]   The address [redacted]       Reviewer Comment (2026-04-29): Corrected and recorded Security instrument.


Buyer Comment (2026-04-29): corrected address [redacted]
04/29/2026     No 1 C A C A C A C A C A   WI Investment Purchase   D A D A     A A   N/A No
xxx 2162981 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Verification of Non-[redacted]  Citizen Status not provided   Permanent Residence Card is missing in file.       Reviewer Comment (2026-04-29): Received permanent resident card. Exception cleared.


Buyer Comment (2026-04-27): green card front


Buyer Comment (2026-04-27): green card back
04/29/2026     No 1 C A C A C A C A C A   OH Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2162986 xxx   XXXX     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: [redacted]           Reviewer Comment (2026-05-04): Received CDA report in the file. Exception Cleared.


Buyer Comment (2026-04-30): CDA
05/04/2026     No 1 D A D A D A D A D A   TN Investment Refinance - Rate/Term   D A C A     D A   N/A No
xxx 2162986 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for business entity.       Reviewer Comment (2026-04-28): OFAC already available for business entity on the loan participant analysis. Exception Cleared.


Buyer Comment (2026-04-24): [redacted] reports the business entity on the participant list
04/28/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Rate/Term   D A C A     D A   N/A No
xxx 2162986 xxx   XXXX     Credit Credit Credit Calculation / Analysis Guideline Guideline Requirement: Representative FICO score discrepancy.   FICO for FTI is [redacted].       Reviewer Comment (2026-04-28): As per recent matric, Minimum credit score goes by the matrix for first time investor as [redacted]. Exception Cleared.


Buyer Comment (2026-04-24): per [redacted] matrix, Minimum credit score goes by the matrix for first time investor.  [redacted]
04/28/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Rate/Term   D A C A     D A   N/A No
xxx 2162968 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   File is missing verification of [redacted] [redacted] primary mortgage payment from [redacted] mortgage.       Reviewer Comment (2026-04-27): Received First Payment letter and closing disclosure for primary property. Exception Cleared.


Buyer Comment (2026-04-23): property refinanced in [redacted] and new payment was not due until [redacted] [redacted], [redacted]


Reviewer Comment (2026-04-22): Require [redacted] payment proof or [redacted] Mortgage Statement in the file. Exception Remains.


Buyer Comment (2026-04-20): First payment was not due until [redacted] [redacted], [redacted]
04/27/2026     No 1 C A C A C A C A C A   CA Investment Purchase   C A C A     A A   N/A No
xxx 2162971 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-04-20): Received certified copy of the final closing Statement. Exception Cleared.


Buyer Comment (2026-04-17): Please see the attached. Thank you.
04/20/2026     No 1 D A D A D A D A D A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162971 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Non-Owner Occupancy Declaration is incomplete as Section [redacted] is missing the principal residence address [redacted]       Reviewer Comment (2026-05-08): Received Non-Owner Occupancy Declaration with section [redacted] completed. Exception Cleared.


Buyer Comment (2026-05-06): Please see attached. Thank you.


Buyer Comment (2026-05-06): Please see the correct section [redacted] completed. Thank you.


Reviewer Comment (2026-04-29): Received Non-owner occupancy certificate which is not for current transaction as borrower name & subject property address [redacted]


Buyer Comment (2026-04-27): Please see attached in initial upload as well. Thank you.


Reviewer Comment (2026-04-20): Received business purpose certificate. Required certification of non-owner occupancy with complete section [redacted](A). Exception Remains.


Buyer Comment (2026-04-16): Please see attached. Thank you.
05/08/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2162971 xxx   XXXX     Credit Hazard Insurance Document Error Hazard Insurance Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.   The Hazard Insurance policy did not list Lender or Servicer as mortgagee.  Please provide an updated policy disclosing [redacted],       Reviewer Comment (2026-04-20): Received corrected Hazard Insurance policy. Exception Cleared.


Buyer Comment (2026-04-16): Please find corrected [redacted]page. Thank you.
04/20/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177267 xxx   XXXX     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - [redacted]-month consecutive bank statements are missing from file.       Reviewer Comment (2026-05-06): Received [redacted] Month bank statement in the file for all available assets. Exception Cleared.


Buyer Comment (2026-05-04): [redacted] bank statements


Reviewer Comment (2026-04-30): Provided bank statement for [redacted] which is available in the initial loan package. Exception remains


Buyer Comment (2026-04-29): assets
05/06/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2177267 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   The file was missing a copy of the Certificate of Good Standing.       Reviewer Comment (2026-05-08): Received Certificate of Good Standing. Exception Cleared.


Buyer Comment (2026-05-06): Cert of good standing
05/08/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2164756 xxx   XXXX     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - A [redacted]-month bank statement is required as verified by guidelines.       Reviewer Comment (2026-05-06): Received [redacted] statement covering [redacted] months. Exception cleared.


Buyer Comment (2026-05-04): [redacted] bank statements
05/06/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2164755 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy. Title Evidence: ___         Reviewer Comment (2026-04-24): Bank statements provided
04/24/2026     No 1 A A A A A A A A A A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2164755 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   The file was missing a copy of the Certificate of Good Standing.       Reviewer Comment (2026-04-24): Document provided


Buyer Comment (2026-04-22): Cert of good standing
04/24/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2164755 xxx   XXXX     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - File is missing [redacted] most recent months' account statements.       Reviewer Comment (2026-04-24): Bank statements provided


Buyer Comment (2026-04-22): [redacted] bank statement
04/24/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2167096 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   Please provide a copy of Articles of Organization for [redacted].       Reviewer Comment (2026-04-22): Received


Buyer Comment (2026-04-20): Certificate of formation = Articles or Organization in [redacted]
04/22/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2167096 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Please provide a copy of Certificate of Good Standing for [redacted].       Reviewer Comment (2026-04-22): Received


Buyer Comment (2026-04-20): COG from state [redacted]
04/22/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2167096 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Please provide a copy of Corporate Resolution for [redacted].       Reviewer Comment (2026-04-22): Received


Buyer Comment (2026-04-20): Corporate Resolution is not required. Both partners are borrowers on this refinance transaction. Both borrowers signed the Note and the Mortgage. This constitutes agreement and authorization from both members that each own [redacted]% of the LLC.
04/22/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2167096 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Please provide a copy of the final HUD-1/closing statement signed by the borrowers or stamped by the title company as the final.       Reviewer Comment (2026-04-22): Received


Buyer Comment (2026-04-20): Signed combined settlement statement
04/22/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2167096 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Please provide a copy of Operating Agreement for [redacted].       Reviewer Comment (2026-04-22): Received


Buyer Comment (2026-04-20): Operating agreement
04/22/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2167096 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender allowed a rural property on a DSCR loan. The representative FICO score exceeds the guideline minimum by at least [redacted] points.   SitusAMC Reviewer Comment (2026-04-16): Lender exception approval in file
    04/16/2026 Yes 2 B B B B B B B B B B   NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2167097 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Mortgage history [redacted] months Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.   SitusAMC Reviewer Comment (2026-04-28): Lender exception approval in file
    04/28/2026 Yes 2 B B B B B B B B B B   MI Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2169338 xxx   XXXX     Credit Collateral Missing/Incorrect Collateral Missing document: Lease on leasehold property is not in file   Land lease agreement is missing in file. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-27): Waived with compensating factors per lender direction.


Buyer Comment (2026-05-22): PFA document.


Reviewer Comment (2026-05-20): Documents received are not the original land lease, reflecting the leasehold amount due.  The documents appear to be court filings giving the residents the right to renew the leases forever, with renewal date [redacted], spelling out the terms of the leasehold.


Buyer Comment (2026-05-19): PFA Document.


Reviewer Comment (2026-05-04): Received renewed lease dated [redacted]. Per fraud report, last sale was taken place on [redacted] with price of $[redacted] Per property profile report, last deed was dated [redacted] and per title report, title was transferred by leasehold deed dated [redacted]. Require all the chain of title and lease agreements till title was transferred to borrowing business entity. Exception remains.


Buyer Comment (2026-04-30): PFA documents.
    05/27/2026 No 2 C B C B C B C B C B   MS Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2169359 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided           Reviewer Comment (2026-04-21): Received good standing. Exception cleared.


Buyer Comment (2026-04-20): COGS


Reviewer Comment (2026-04-20): Provided document does not reflect the Active status of the LLC. Exception remains.


Buyer Comment (2026-04-16): COGS
04/21/2026     No 1 C A C A C A C A C A   GA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169359 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.   File contains an Asset Depletion worksheet; however, the [redacted] account referenced was not provided.  Please provide [redacted] months complete statements for this account for re-review of the DSCR.       Reviewer Comment (2026-04-21): Received Asset Depletion worksheet. DSCR [redacted] Exception cleared.


Buyer Comment (2026-04-17): asset depletion
04/21/2026     No 1   A   A   A   A   A   GA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169357 xxx   XXXX     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard Insurance Coverage Amount is insufficient.       Reviewer Comment (2026-05-07): HOI agent email received reflecting an additional [redacted]% extended replacement cost, resulting in sufficient coverage.


Buyer Comment (2026-05-04): extended replacement cost coverage [redacted]% per email from ins agent
05/07/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169346 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Final HUD/CD or Closing Statement is missing       Reviewer Comment (2026-05-05): Received final closing statement. Exception cleared.


Buyer Comment (2026-05-01): Please find attached
05/05/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2169346 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception at origination to allow unit [redacted] of the [redacted] unit property with [redacted] square feet, which does not meet guideline requirement of [redacted] square feet per unit. Borrower has owned the subject property for at least [redacted] years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[redacted].

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Debt Service Coverage Ratio: [redacted]
Guideline Requirement: [redacted]

Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC
Reviewer Comment (2026-05-12): Waived with compensating factors per lender approved exception.


Buyer Comment (2026-05-08): exception
    05/12/2026 No 2 C B C B C B C B C B   TN Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2169341 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Missing Final executed HUD/CD in the Loan file.       Reviewer Comment (2026-05-06): Received final closing statement. Exception cleared.


Buyer Comment (2026-05-04): Final SS
05/06/2026     No 1 C A C A C A C A C A   CA Investment Purchase   D B D B     A A   N/A No
xxx 2169341 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Provide letter of explanation for living rent free. If living with a spouse, provide a mortgage statement or copy of a lease and if property is owned free and clear, provide a property history report. If residing with non spouse, LOX and UW discretion is required. The representative FICO score exceeds the guideline minimum by at least [redacted] points.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.
Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]

Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-13): Waived with compensating factors per lender approved exception received in trailing documents.


Buyer Comment (2026-05-11): exception


Reviewer Comment (2026-05-07): Exception provided does not address [redacted]


Buyer Comment (2026-05-05): exception
    05/13/2026 No 2 C B C B C B C B D B   CA Investment Purchase   D B D B     A A   N/A No
xxx 2169341 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is first time investor living rent free which is not permitted per the guidelines. The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC Reviewer Comment (2026-05-07): Waived with compensating factors per lender approved exception.


Buyer Comment (2026-05-05): see attached exception
    05/07/2026 No 2 C B C B C B C B C B   CA Investment Purchase   D B D B     A A   N/A No
xxx 2169361 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Documented qualifying Assets for Closing of $[redacted] is less than Cash From Borrower $[redacted]       Reviewer Comment (2026-05-12): Additional asset statement provided in trailing documents reflecting sufficient cash to close.


Reviewer Comment (2026-05-11): The cash from borrower is $[redacted] and the POC verified is for $[redacted] which is still less. Exception Remains.


Buyer Comment (2026-05-08): Frost #[redacted]


Buyer Comment (2026-05-07): POC paid by CC
05/12/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   D A D A     A A   N/A No
xxx 2169361 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-05-11): Received the signed and dated HUD-1 . Exception cleared.


Buyer Comment (2026-05-07): Final
05/11/2026     No 1 D A D A D A D A D A   TX Investment Refinance - Rate/Term   D A D A     A A   N/A No
xxx 2169353 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Certificate of Non-Owner Occupied disclosure does not show the borrower's principal address [redacted]       Reviewer Comment (2026-05-12): Received Certificate of Non-Owner Occupancy showing borrower at a different address [redacted]


Buyer Comment (2026-05-08): Non-Owner
05/12/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169366 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Spousal Consent Form not provided           Reviewer Comment (2026-05-12): No new document received. Spousal consent is not required on individual application. Exception cleared.


Buyer Comment (2026-05-08): Per guidelines, spousal consent is only required when closing in business entity
05/12/2026     No 1 C A C A C A C A C A   AZ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169352 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.           Reviewer Comment (2026-05-07): Updated DSCR as per new matrix provided. Guidelines requirement met. Exception Cleared.


Buyer Comment (2026-05-05): [redacted], please be aware new matrix & guidelines dated [redacted]. Thank you


Buyer Comment (2026-05-05): Please see matrix attached dscr ratio ok @ [redacted]% up to [redacted]% ltv c/o. Thank you.
05/07/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169368 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement. The statement in file is not signed by the closing agent.       Reviewer Comment (2026-05-11): Received the signed and dated Closing statement . Exception cleared.


Buyer Comment (2026-05-07): Final SS
05/11/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169368 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   File is missing a copy of a non-expired government-issued photo ID.       Reviewer Comment (2026-05-11): Received driving license. Exception cleared.


Buyer Comment (2026-05-07): ID
05/11/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169368 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-11): Received non owner occupancy certificate showing borrowers principal residence address [redacted]


Buyer Comment (2026-05-07): Non-Owner
05/11/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169365 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Signed copy of Certificate of Non-Owner Occupied disclosure does not show the borrower's principal address [redacted]       Reviewer Comment (2026-05-08): Received Non-Owner Occupancy Declaration with section [redacted] completed. Exception Cleared.


Buyer Comment (2026-05-06): Updated Non-Owner Certificate
05/08/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2169355 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Co-borrower is living rent free with someone other than a spouse. This does not meet guidelines. File is missing rate lock with LLPA and underwriter discretion documentation. The representative FICO score exceeds the guideline minimum by XX points.

The qualifying DSCR on the loan is greater than the guideline minimum.
[redacted] FICO.

The DSCR of [redacted] is greater than the minimum required DSCR of [redacted].
SitusAMC,Originator

SitusAMC,Originator
Reviewer Comment (2026-05-18): Waived with compensating factors per lender approved exception received in trailing documents.


Buyer Comment (2026-05-14): Please find attached


Reviewer Comment (2026-05-11): Received lender approved exception; however, comp factors provided are not valid.  Please provide updated approved exception with recognized comp factors.


Buyer Comment (2026-05-07): Please find attached
    05/18/2026 No 2 C B C B C B C B C B   MN Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2169347 xxx   XXXX     Credit Business Purpose General Business Purpose Missing Document: Spousal Consent not provided. -         Reviewer Comment (2026-05-12): Spousal Consent not required for individuals. Exception cleared.


Buyer Comment (2026-05-08): Although this a community state [redacted], spousal consent is not required for loans closing in individual.  This is only required if closing in LLC.  Please waive.
05/12/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2169360 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is currently living rent-free. This does not meet guidelines. File is missing underwriter discretion documentation.       Reviewer Comment (2026-05-19): Updated [redacted] reflecting UW discretion received.


Buyer Comment (2026-05-15): Please see attached


Reviewer Comment (2026-05-13): Received same [redacted] as in original submission.  It does not contain the UW discretion required per previous management discussion.


Buyer Comment (2026-05-11): Please see attached
05/19/2026     No 1 C A C A C A C A C A   IL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2144095 xxx   XXXX     Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized. Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value. Sec ID: [redacted] Note Date:  ___; Lien Position: ___         Reviewer Comment (2026-03-03): Waived per lender direction.


Buyer Comment (2026-03-02): [redacted] appraisal, [redacted] CDA, [redacted] field review; EV2- Lender accepts. Please waive with available compensating factors.
    03/03/2026 No 2 A A A A A A A A B B   OH Investment Refinance - Cash-out - Other   B B A A     B B   N/A No
xxx 2158285 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Non-Owner Occupancy Declaration is incomplete as Section [redacted] is missing the principal residence address [redacted]       Reviewer Comment (2026-03-24): Received Non-Owner Occupancy Declaration showing borrower at a different address [redacted]


Buyer Comment (2026-03-20): Non-Owner
03/24/2026     No 1 C A C A C A C A C A   MA Investment Purchase   C A C A     A A   N/A No
xxx 2158285 xxx   XXXX     Credit Credit Credit Documentation Credit OFAC was not provided and is required.   Missing for business entity.       Reviewer Comment (2026-03-24): Received clear OFAC search for business entity. Exception cleared.


Buyer Comment (2026-03-20): ofac search
03/24/2026     No 1 C A C A C A C A C A   MA Investment Purchase   C A C A     A A   N/A No
xxx 2156893 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   File is missing verification of [redacted] payment for primary mortgage.       Reviewer Comment (2026-03-27): Received tax certificate for primary residence. Exception Cleared.


Buyer Comment (2026-03-25): tax cert


Reviewer Comment (2026-03-25): Received Property History Report for primary residence showing free and clear on [redacted] (older mortgage) however proof of current taxes is paid is still pending. Exception remains.


Buyer Comment (2026-03-23): see attached property profile; new loan opened [redacted] and first payment would not be due until [redacted].


Buyer Comment (2026-03-23): property profile


Reviewer Comment (2026-03-23): Pay history provided for primary mortgage showing mortgage was paid off on [redacted]. Provide property profile report showing free and clear with current taxes paid. Exception remains


Buyer Comment (2026-03-19): paid off [redacted] [redacted]
03/27/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2155418 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Provide a final HUD signed by all parties or stamped true and certified.       Reviewer Comment (2026-04-02): Received certified closing statement. Exception cleared.


Buyer Comment (2026-03-31): pls see
04/02/2026     No 1 D A D A D A D A D A   CA Investment Refinance - Rate/Term   D A D A     A A   N/A No
xxx 2173160 xxx   XXXX     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy.   Calculated PITIA months reserves of [redacted] is less than Guideline PITIA months reserves of [redacted].       Reviewer Comment (2026-05-26): As per guidelines Loan amount ≤ $[redacted]M [redacted] Months PITIA (ITIA for IO Loans). Reserve is sufficient. Exception Cleared.


Buyer Comment (2026-05-22): THE MATRIX FOR THIS PROGRAM STATES THE RESERVE REQUIREMENT IS [redacted] MONTHS, NOT [redacted] MONTHS
05/26/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2173158 xxx   XXXX     Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. - Per lender guidelines, statements for [redacted] consecutive months is required. Only [redacted] month was provided for each account.       Reviewer Comment (2026-05-06): Received [redacted] month's statements.Exception cleared.


Buyer Comment (2026-05-04): [redacted] bank statements
05/06/2026     No 1 C A C A C A C A C A   AL Investment Purchase   D A D A     A A   N/A No
xxx 2173158 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Deeds / Warranty / Grant / Quit-Claim not provided   The deed is missing transferring the subject property to the borrowing entity.       Reviewer Comment (2026-05-11): Received Deed shows it was vested right into the LLC. Exception Cleared.


Buyer Comment (2026-05-07): this is a purchase the Deed shows it was vested right into the LLC
05/11/2026     No 1 D A D A D A D A D A   AL Investment Purchase   D A D A     A A   N/A No
xxx 2173158 xxx   XXXX     Credit Loan Package Documentation Closing / Title Loan Package Documentation (Doc Error) Security Instrument Error: Notary Date was not provided   Notary date [redacted], estimated consummation date [redacted]       Reviewer Comment (2026-05-11): Received Security Instrument with Notary date [redacted]


Buyer Comment (2026-05-08): Notary page corrected and attached
05/11/2026     No 1 B A B A B A B A B A   AL Investment Purchase   D A D A     A A   N/A No
xxx 2177264 xxx   XXXX     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 (2026-06-17): Final title provided
06/17/2026     No 1 A A A A A A A A A A   NV Investment Purchase   B A B A A A A A N/A N/A No
xxx 2177264 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   The Title amount of $[redacted] was used by Lender to qualify loan       Reviewer Comment (2026-06-17): Final title provided


Buyer Comment (2026-06-16): Please see the attached Title Policy listing the loan amount


Reviewer Comment (2026-06-15): Please provide updated title policy that reflects the correct amount.


Buyer Comment (2026-06-11): Please see the attached COC for the loan amount change
06/17/2026     No 1 B A B A B A B A B A   NV Investment Purchase   B A B A A A A A N/A N/A No
xxx 2175467 xxx   XXXX     Credit Guideline Guideline Issue Guideline Ineligible Property Type per the guidelines.   Property is zoned as Agricultural which is an ineligible property per the guidelines. Borrower has owned the subject property for at least [redacted] years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

Borrower's Experience/Track Record
Reserves: [redacted]
Guideline Requirement: [redacted]

Borrower's Experience/Track Record. The borrower has [redacted] Years of Experience.
SitusAMC

Originator,SitusAMC

SitusAMC,Originator
Reviewer Comment (2026-05-07): Waived with compensating factors per lender approved exception received in trailing docs.


Buyer Comment (2026-05-04): exception
    05/07/2026 No 2 C B C B C B C B C B   NC Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2175495 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-05-18): Final settlement statement received.


Buyer Comment (2026-05-14): Please find attached
05/18/2026     No 1 D A D A D A D A D A   NC Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2175470 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-18): Completed NOO certificate received


Buyer Comment (2026-05-14): See attached. Thank you.
05/18/2026     No 1 C A C A C A C A C A   MA Investment Purchase   C A C A     A A   N/A No
xxx 2175464 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2026-05-08): Received Final Closing statement. Exception Cleared.


Buyer Comment (2026-05-06): PFA
05/08/2026     No 1 C A C A C A C A C A   AZ Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2175464 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided   File is missing a non-expired government-issued photo ID. (Driver License in file is not guarantor)       Reviewer Comment (2026-05-13): Driver's license received in trailing documents.


Buyer Comment (2026-05-11): PFA
05/13/2026     No 1 C A C A C A C A C A   AZ Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2175500 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Spousal Consent Form not provided           Reviewer Comment (2026-06-15): Per lender direction, not requiring as, while property is in community property state [redacted], guarantor does not reside in community property state [redacted]
06/15/2026     No 1 C A C A C A C A C A   WA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2175500 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The appraisal does not show the property is Tenant Occupied or Vacant and thus casts doubt on the business purpose of the loan.   Appraisal states property is owner occupied.       Reviewer Comment (2026-05-20): Corrected appraisal.


Buyer Comment (2026-05-18): Please find the corrected appraisal report attached.
05/20/2026     No 1 C A C A C A C A C A   WA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2175471 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide a copy of the lease along with canceled checks front and back or bank statements showing account ownership and payments debited by landlord/management company. The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC Reviewer Comment (2026-06-16): Waived with compensating factors per lender approved exception.


Buyer Comment (2026-06-12): PFA Post closing exception approval.


Reviewer Comment (2026-06-10): Provide [redacted] month bank statements/cancelled checks front and back to evidence the monthly payments.


Buyer Comment (2026-06-09): PFA
    06/16/2026 No 2 C B C B C B C B C B   FL Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2175471 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Provide evidence of signing authority signed by both of the entity owners.       Reviewer Comment (2026-06-16): Signing authority received in trailing documents.


Buyer Comment (2026-06-12): PFA.


Reviewer Comment (2026-06-10): A signed document (Corporate Resolution) allowing signing authority is required. Required to be signed by all owners of the entity.


Buyer Comment (2026-06-09): Please find attached documents
06/16/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2175498 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide UW discretion for borrower living rent free.       Reviewer Comment (2026-05-12): Received [redacted] form with underwriter discretion for occupancy. Exception cleared.


Buyer Comment (2026-05-08): UW discretion
05/12/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2175493 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Rent-free letter was in the file, however, UW Discretion is required for borrower living rent-free with someone other than spouse.       Reviewer Comment (2026-05-13): Updated [redacted] with UW discretion received in trailing documents.


Buyer Comment (2026-05-11): UW Discretion
05/13/2026     No 1 C A C A C A C A D A   FL Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2175468 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Closing statement provided is not signed by the title agent.       Reviewer Comment (2026-05-13): Received final settlement statement


Buyer Comment (2026-05-11): Please see final HUD-1 attached. Thank you.
05/13/2026     No 1 D A D A D A D A D A   GA Investment Refinance - Rate/Term   D A D A     A A   N/A No
xxx 2175503 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - All liens required to be paid prior to closing or at closing. Documentation in file is not dated and does not state [redacted]       Reviewer Comment (2026-05-29): Tax warrant search shows [redacted] balance.


Reviewer Comment (2026-05-28): Received warrant lookup, however satisfaction or release date [redacted]


Buyer Comment (2026-05-26): warrant lookup showing $[redacted]


Reviewer Comment (2026-05-14): The notice/liability numbers and amount on the payoff provided, along with the issue date [redacted], do not match the filing date [redacted], the printouts provided with the matching case number reflect there is an outstanding balance.


Buyer Comment (2026-05-12): Tax warrant payoff


Buyer Comment (2026-05-12): [redacted] reports Tax warrant $[redacted] was paid in full.
05/29/2026     No 1 B A B A B A B A B A   IN Investment Purchase   C A C A     A A   N/A No
xxx 2175503 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-14): Fully completed NOO certificate received.


Buyer Comment (2026-05-12): Non-Owner
05/14/2026     No 1 C A C A C A C A C A   IN Investment Purchase   C A C A     A A   N/A No
xxx 2175466 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Credit report reflects a charge-off account with an outstanding balance of $[redacted] Per program guidelines, charge-offs exceeding allowable limits must be resolved. Borrower is required to pay off or settle this account in full, with a [redacted] balance, prior to or at closing.       Reviewer Comment (2026-05-21): Waived per lender direction.


Buyer Comment (2026-05-19): exception
    05/21/2026 No 2 B B B B B B B B B B   PA Investment Purchase   D B D B     A A   N/A No
xxx 2175466 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   HUD/CS provided is not signed by the title agent.       Reviewer Comment (2026-05-14): Final closing statement received


Buyer Comment (2026-05-12): Final SS
05/14/2026     No 1 D A D A D A D A D A   PA Investment Purchase   D B D B     A A   N/A No
xxx 2175479 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   The file is missing evidence of access to funds for account ending with [redacted].       Reviewer Comment (2026-05-18): Evidence of access to funds received.


Buyer Comment (2026-05-14): see attached Articles of organization
05/18/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2175479 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Missing evidence of access to the business funds for account ending with [redacted].       Reviewer Comment (2026-05-18): Evidence of access to business funds received, resulting in sufficient assets for subject transaction.


Buyer Comment (2026-05-14): Articles of Organization
05/18/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2175462 xxx   XXXX     Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing evidence of rent payments for months of [redacted] and [redacted].       Reviewer Comment (2026-06-09): [redacted] payment confirmed. [redacted] pmt not considered late due to loan closed on [redacted].


Buyer Comment (2026-06-05): [redacted] [redacted] rent


Reviewer Comment (2026-05-21): Per guidelines, a first time investor can have no late payments in the prior [redacted] months.  As borrower is a [redacted[ and [redacted], a [redacted]redacted] would not be acceptable and require lender approved exception with recognized comp factors.


Buyer Comment (2026-05-19): [redacted] payment is not required. The subject loan closed in [redacted].  [redacted] permitted with no reductions.  We do not have evidence of [redacted] payment.
06/09/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     A A   N/A No
xxx 2175462 xxx   XXXX     Credit Guideline Guideline Issue Guideline Borrower is a first time home buyer and ineligible per guidelines. - Please provide missing evidence of [redacted] and [redacted] rental payments to not consider as rent-free borrower.       Reviewer Comment (2026-06-09): [redacted] payment confirmed. [redacted] pmt not considered late due to loan closed on [redacted].


Buyer Comment (2026-06-05): see attached [redacted] rent payment. [redacted] is not required due to the loan closed in [redacted].


Reviewer Comment (2026-05-21): Per guidelines, a first time investor can have no late payments in the prior [redacted] months.  As borrower is a [redacted] and [redacted], a [redacted] would not be acceptable and require lender approved exception with recognized comp factors.


Buyer Comment (2026-05-19): [redacted] payment is not required. The subject loan closed in [redacted].  [redacted] permitted with no reductions.  We do not have evidence of [redacted] payment.
06/09/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     A A   N/A No
xxx 2175492 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final [redacted]   Missing Application for borrower [redacted].       Reviewer Comment (2026-06-01): Received application for borrower [redacted]. Exception cleared.


Buyer Comment (2026-05-28): comm app
06/01/2026     No 1 C A C A C A C A C A   MO Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2175490 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Provide a copy of the lease for the primary residence.       Reviewer Comment (2026-05-22): Lease


Buyer Comment (2026-05-20): [redacted]
05/22/2026     No 1 C A C A C A C A C A   IL Investment Purchase   C A C A     A A   N/A No
xxx 2175477 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-28): Received certificate of non-owner occupancy with primary address [redacted]


Buyer Comment (2026-05-26): Please see attached. Thank you.
05/28/2026     No 1 C A C A C A C A C A   IL Investment Purchase   C A C A     A A   N/A No
xxx 2175477 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.           Reviewer Comment (2026-05-28): Received updated Title Commitment. Exception Cleared.


Buyer Comment (2026-05-26): Please see title amount corrected. Thank you.
05/28/2026     No 1 B A B A B A B A B A   IL Investment Purchase   C A C A     A A   N/A No
xxx 2175460 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.   The file is missing a copy of the Final Title Policy.       Reviewer Comment (2026-06-15): Final title.
06/15/2026     No 1 A A A A A A A A A A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2175460 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Loan is included in a blanket mortgage. Provide verification the lien against the subject property is paid in full and/or verify the property is fully released from the blanket lien.       Reviewer Comment (2026-06-15): Final title.


Buyer Comment (2026-06-11): Final Title
06/15/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2175469 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   File is missing pay history for primary residence.       Reviewer Comment (2026-05-22): Proeprty report and Fraud Report.


Buyer Comment (2026-05-20): [redacted] [redacted] PP
05/22/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2175494 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide UW discretion for borrower living rent free.       Reviewer Comment (2026-05-21): UW discretion received


Buyer Comment (2026-05-19): uw discretion
05/21/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2175461 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide verification of the [redacted]/[redacted] payment for the primary residence.       Reviewer Comment (2026-05-28): As per matrix [redacted][redacted] with no reduction. [redacted] month payment not required. Exception Cleared.


Buyer Comment (2026-05-26): program permits [redacted] with no reduction. We do not have evidence of [redacted] payment
05/28/2026     No 1 C A C A C A C A C A   GA Investment Purchase   C A C A     A A   N/A No
xxx 2169766 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - There are [redacted] different tax lien with the same amount i.e [redacted] however with the different case ID. Please confirm if both are same or not. If not please provide evidence of paid off for another lien too. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-03-27): Evidence tax lien released received in trailing docs.


Reviewer Comment (2026-03-13): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-03-11): Please see exception attached. Thank you.
03/27/2026     No 1 B A B A B A B A B A   FL Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2169766 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy.           Reviewer Comment (2026-02-25): As per matrix loan to value percentage limit is provided till [redacted]%. Updated the same as per provided matrix. Exception Cleared


Buyer Comment (2026-02-23): Please see attached underwriter comments attached. Thanks so much.
02/25/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2169766 xxx   XXXX     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Total cash-out discrepancy. HUD-1 total cash-out of ___ is greater than Guideline total cash-out of ___.   Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-03-13): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-03-11): Please see exception attached. Thank you.
    03/13/2026 No 2 C B C B C B C B C B   FL Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177466 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Missing borrower authorization/resolution signed by other member.       Reviewer Comment (2026-02-19): [redacted] guidelines state [redacted], will not require authorization/resolution signed by other member. Exception Cleared.


Buyer Comment (2026-02-17): See Operating Agreement for [redactive], section [redacted](b) which states all members are authorized on the Company's behalf to make decisions as to reasons listed. [redacted] guidelines state [redacted]


Buyer Comment (2026-02-17): See Operating Agreement for [redacted] section [redacted](b) which states all members are authorized on the Company's behalf to make decisions as to reasons listed. [redacted] guidelines state [redacted]
02/19/2026     No 1 C A C A C A C A C A   AL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177466 xxx   XXXX     Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed -         Reviewer Comment (2026-02-16): Received clear fraud report in the file. Exception Cleared.


Buyer Comment (2026-02-12): Clear fraud report attached, see final page.
02/16/2026     No 1 C A C A C A C A C A   AL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177466 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Source of Funds for the Initial Purchase not provided           Reviewer Comment (2026-03-05): LOX from settlement agent verifying funds used for the original purchase.


Buyer Comment (2026-03-03): LOE from [redacted] attached.


Reviewer Comment (2026-02-19): Received evidence of EMD source and copy of check.  For the closing funds, the cashier's check provided is not made out to the seller of the property or the settlement agent.  The LOE in file indicates seller directed buyer to draw funds in this name; however, settlement agent will need to confirm receipt of these funds as being part of the subject transaction.  The cash from borrower on the closing statement provided reflects $[redacted]; however, the check is in the amount of $[redacted]


Buyer Comment (2026-02-19): Documentation supporting source of funds for initial purchase attached.
03/05/2026     No 1 C A C A C A C A C A   AL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2169740 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final HUD-1/Settlement Statement signed by all parties.   Closing agent signature is missing.       Reviewer Comment (2026-03-26): Stamped true and certified Final Closing Statement received and verified the details. Exception Cleared.


Buyer Comment (2026-03-24): Certified True Copy Settlement Statement.


Reviewer Comment (2026-03-20): Final settlement statement will need to be either signed by settlement agent or stamped true and certified.


Buyer Comment (2026-03-18): Please cancel this exception. The Closing Agent is not required to sign as there is no signature line provided.
03/26/2026     No 1 C A C A C A C A C A   VA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169762 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide evidence of UW discretion for borrower living rent free with other than a spouse.       Reviewer Comment (2026-03-24): Updated [redacted] received with underwriter discretion for Borrower is living rent free along with rent free letter. Exception Cleared.


Buyer Comment (2026-03-20): Final [redacted] with rent free comments
03/24/2026     No 1 C A C A C A C A C A   IL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169754 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Provide the final Closing Statement fully executed by the all parties or stamped true and certified. Copy provided is not signed by all parties.       Reviewer Comment (2026-03-31): Received closing statement signed by all parties. Exception cleared.


Buyer Comment (2026-03-27): SS uploaded.
03/31/2026     No 1 D A D A D A D A D A   FL Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169707 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower. Documented qualifying Assets for Closing of  ___ is less than Cash From Borrower ___. Assets are insufficient The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-05-22): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-05-20): Please find attached Exception
    05/22/2026 No 2 C B C B C B C B C B   GA Investment Purchase   C B C B     A A   N/A No
xxx 2169707 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Source of Funds/Deposit not provided   Missing source of funds for gift funds of $[redacted] The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-05-22): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-05-20): Please find attached Exception
    05/22/2026 No 2 C B C B C B C B C B   GA Investment Purchase   C B C B     A A   N/A No
xxx 2169769 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   Note Document missing in this loan file       Reviewer Comment (2026-04-09): Received Note - Subject Lien in the file. Exception Cleared.


Buyer Comment (2026-04-07): note
04/09/2026     No 1 D A D A D A D A D A   NY Investment Purchase   D A D A     A A   N/A No
xxx 2169769 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Leases are required for all rented units. If the lease has been converted month-to-month, then provide the most recent [redacted] months proof of receipt to evidence continuance of lease.       Reviewer Comment (2026-04-09): Market rent used to calculate the DSCR. Lease agreement not required in the file.Exception Cleared.


Buyer Comment (2026-04-07): Market rent was used to qualify; nothing further is required per guidelines.
04/09/2026     No 1 C A C A C A C A C A   NY Investment Purchase   D A D A     A A   N/A No
xxx 2169760 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Provide leases for all units. If lease cannot be provided, [redacted]% of the market rent will be used.       Reviewer Comment (2026-04-24): Guideline allows [redacted]% of the market rent be used. Exception Cleared.


Buyer Comment (2026-04-22): Bwr qualifies using [redacted]% of the market rent.
04/24/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2169714 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   File is missing a copy  of the lease from the primary residence. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

Borrowers made a down payment from their own funds on this purchase transaction of at least [redacted]% and $[redacted]

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
  SitusAMC

SitusAMC

SitusAMC
Reviewer Comment (2026-04-23): Waived with compensating factors per client request.  They are accepting the VOR in file in lieu of the required lease agreement.


Reviewer Comment (2026-04-17): The VOR along with pay history received. Lease agreement for the primary residence is missing. Exception remains


Buyer Comment (2026-04-15): Verification of Rent for Primary Residence attached.
    04/23/2026 No 2 C B C B C B C B C B   TX Investment Purchase   C B C B     A A   N/A No
xxx 2169770 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.   Closing agent did not sign.       Reviewer Comment (2026-04-24): Executed Final Closing Statement received and verified the details. Exception Cleared.


Buyer Comment (2026-04-22): Please final fully executed HUD attached. Thank you.
04/24/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     A A   N/A No
xxx 2169770 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   File is missing verification of [redacted] and [redacted] [redacted] mortgage payment for primary residence.       Reviewer Comment (2026-04-29): Received mortgage statement for [redacted] and [redacted] [redacted]. Exception Cleared.


Buyer Comment (2026-04-27): Please see history attached. Thank you .


Buyer Comment (2026-04-27): Please see [redacted] [redacted] mtg payment made. Thank


Buyer Comment (2026-04-27): Please see mtg payments for [redacted] & [redacted] [redacted]. Thank you.
04/29/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     A A   N/A No
xxx 2169770 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Leases are expired. Provide current lease agreements for each unit. If the original lease agreements have converted to month to month, then provide the most recent [redacted] months proof of receipt to evidence continuance of lease. If the above cannot be met, then [redacted]% of market rent is to be used to qualify.       Reviewer Comment (2026-04-24): Leases provided.


Buyer Comment (2026-04-22): Please see attached valid leases. Thank you.
04/24/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     A A   N/A No
xxx 2169729 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Missing corporate resolution signed by both members.       Reviewer Comment (2026-05-15): Borrower Cert.


Buyer Comment (2026-05-13): Borrowing Certificate
05/15/2026     No 1 C A C A C A C A C A   GA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169729 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   HUD provided not signed by settlement agent.       Reviewer Comment (2026-05-11): Final HUD received


Buyer Comment (2026-05-07): signed Final
05/11/2026     No 1 C A C A C A C A C A   GA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169736 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided   Any individual with [redacted]% or greater ownership in the LLC is required to sign a Guaranty Agreement along with credit documents including the [redacted], Credit Report and Fraud Report. The current Guarantor owns [redacted]% and another individual owns [redacted]%. Additional conditions [redacted] apply. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.   SitusAMC Reviewer Comment (2026-05-20): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-05-18): exception


Reviewer Comment (2026-05-14): The document provided reflects a signature date [redacted], which is after loan closing date [redacted], [redacted]% ownership of the borrowing entity and was required to sign a guarantor agreement and credit qualify for the loan.


Buyer Comment (2026-05-12): the percentage of ownership was changed from [redacted]% to [redacted]% on the exhibit B


Reviewer Comment (2026-05-11): Received the Exhibit B Members Amendment; however, an executed Guarantor Agreement is required, as [redacted]% ownership.. Exception remains.


Buyer Comment (2026-05-07): members agreement
    05/20/2026 No 2 D B D B D B D B D B   FL Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2169736 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide verification of signing authority from all entity owners.       Reviewer Comment (2026-05-01): Received borrower certificate document. Verified and updated details. Exception Cleared.


Buyer Comment (2026-04-29): Borrowing Cert
05/01/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2169725 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   The file is missing the OFAC report for the business entity.       Reviewer Comment (2026-05-01): OFAC report for the business entity. received and verified. Exception cleared.


Buyer Comment (2026-04-29): ofac
05/01/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169725 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-05-01): Closing Statement and final HUD-1 with signature received and verified. Exception cleared.


Buyer Comment (2026-04-29): Final SS
05/01/2026     No 1 D A D A D A D A D A   NY Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169726 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.  Closing agent signature is missing.       Reviewer Comment (2026-05-05): Received HUD-1 signed/dated by all parties. Exception cleared.


Buyer Comment (2026-05-01): PFA


Reviewer Comment (2026-04-30): Provided HUD-1 is not signed by the borrower. Exception remains.


Buyer Comment (2026-04-28): PFA
05/05/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2169726 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-04-30): Provided Non-Owner Occupancy Declaration with primary residence address [redacted]


Buyer Comment (2026-04-28): PFA
04/30/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2169757 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Copy provided is outdated.       Reviewer Comment (2026-05-05): Certificate of Good Standing is not required for LLCs formed within the last [redacted] months. Exception cleared.


Buyer Comment (2026-05-01): Per guidelines, Not required if the LLC was formed within the last [redacted] months
05/05/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169732 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Guarantor has a judgment of $[redacted] on fraud. Missing proof of payment/clearance of judgment in file.       Reviewer Comment (2026-05-06): Order of Dismissal document is provided for the judgment. Exception cleared.


Buyer Comment (2026-05-04): Order of Dismissal
05/06/2026     No 1 B A B A B A B A B A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169732 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide verification of the [redacted]/[redacted] payment for the primary residence.       Reviewer Comment (2026-05-06): Received pay history till [redacted] for the primary residence. Exception cleared.


Buyer Comment (2026-05-04): mtg printout
05/06/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169724 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Report disclosed open tax lien under the borrower's name. Tax lien was not paid off at closing and file is missing the lien was paid in full and satisfied. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months. Reserves: [redacted]
Guideline Requirement: [redacted]
Originator,SitusAMC Reviewer Comment (2026-05-18): Waived with compensating factors per lender approved exception received in trailing documents.


Buyer Comment (2026-05-14): exception
    05/18/2026 No 2 B B B B B B B B B B   TX Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2169710 xxx   XXXX     Credit Guideline Guideline Issue Guideline Housing  payment lates are present within [redacted] months.   Lender approved exception to accept VOM for mortgage not in borrower's name reflecting [redacted]; however, there has been a rolling [redacted] day late since [redacted] [redacted], which does not meet guideline requirement of no more than [redacted]. Borrower has owned the subject property for at least [redacted] years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.

Borrower's Experience/Track Record
Borrower's Experience/Track Record. The borrower has [redacted] Years of Experience. SitusAMC

SitusAMC

SitusAMC

SitusAMC,Originator Pre-Close
Reviewer Comment (2026-05-04): Waived with compensating factors per lender approved exception at origination.
    05/04/2026 No 2   B   B   B   B   B   FL Investment Refinance - Cash-out - Other   A B A B     A A   N/A No
xxx 2169706 xxx   XXXX     Credit Asset Asset Documentation Asset Missing Document: Gift Letter not provided   The final closing statement disclosed a gift amount for $[redacted]  Please provide the gift letter for this amount.       Reviewer Comment (2026-05-06): Received gift letter for $[redacted] Exception cleared.


Buyer Comment (2026-05-04): gift letter
05/06/2026     No 1 C A C A C A C A C A   GA Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2169752 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to allow [redacted] months seasoning on a forbearance when at least [redacted] months seasoning is required. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[redacted].

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Debt Service Coverage Ratio: [redacted]
Guideline Requirement: [redacted]

Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC
Reviewer Comment (2026-04-30): Waived with compensating factors per lender exception approval at origination.
    04/30/2026 No 2 B B B B B B B B B B   CA Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2169752 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-05-07): Final closing statement received


Buyer Comment (2026-05-07): Please see final HUD attached. Thank you.


Buyer Comment (2026-05-05): PFA
05/07/2026     No 1 D A D A D A D A D A   CA Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2169741 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Notary's Certificate of Acknowledgment did not disclose the date [redacted]       Reviewer Comment (2026-05-28): Received security instrument with notary acknowledgement page. Exception cleared.


Buyer Comment (2026-05-26): Please see attached Security Agreement with Notary's Certificate of Acknowledgment
05/28/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     A A   N/A No
xxx 2169741 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Non-Owner Occupancy Declaration is incomplete as Section [redacted] is missing the principal residence address [redacted]       Reviewer Comment (2026-05-07): Received Certificate of Non-Owner Occupancy showing borrower at a different address [redacted]


Buyer Comment (2026-05-05): Please see section [redacted] completed. Thank you.
05/07/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     A A   N/A No
xxx 2169731 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   As per guidelines when using a higher actual lease amount, evidence of [redacted] months of receipt is required from seller.       Reviewer Comment (2026-05-08): Received [redacted] months rent receipt. Exception cleared.


Buyer Comment (2026-05-06): [redacted] months rent
05/08/2026     No 1 C A C A C A C A C A   WI Investment Purchase   C A C A     A A   N/A No
xxx 2169767 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Missing closing statement signed by all parties, provided closing statement not signed by settlement agent.       Reviewer Comment (2026-05-05): Executed Final Closing Statement received and verified the details. Exception Cleared.


Buyer Comment (2026-05-01): PFA as requested
05/05/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169712 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   The Title Policy Amount of $[redacted] is less than the note amount of $[redacted] based on the Commitment in file.       Reviewer Comment (2026-05-11): Received updated policy which covers the loan amount, Exception cleared.


Buyer Comment (2026-05-07): Please see policy with sch A reflecting the correct loan amount. Thank you.
05/11/2026     No 1 B A B A B A B A B A   TX Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2169712 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - As per guideline, all judgments and liens must be paid in full prior to or at closing.       Reviewer Comment (2026-05-29): Waived per client direction.


Reviewer Comment (2026-05-15): Evidence the lien is released is required per the guidelines. Document reviewed. If lender is comfortable with leaving it open, they are Grade [redacted] exceptions that can be waived at lender request.


Buyer Comment (2026-05-13): Please see attached.
    05/29/2026 No 2 B B B B B B B B B B   TX Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2169712 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - As per guideline requirements, all judgments and liens must be paid in full prior to or at closing. Please provide documentation evidencing that the tax lien has been fully satisfied.       Reviewer Comment (2026-05-29): Waived per client direction.


Buyer Comment (2026-05-27): Thank you [redacted] PLEASE waive this condition. Thanks again.


Reviewer Comment (2026-05-15): Evidence the lien is released is required per the guidelines. Document reviewed. If lender is comfortable with leaving it open, they are Grade [redacted] exceptions that can be waived at lender request.


Buyer Comment (2026-05-13): See attached.


Buyer Comment (2026-05-13): Please see attached loe. Thank you.
    05/29/2026 No 2 B B B B B B B B B B   TX Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2169744 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement signed by closing agent and borrower.       Reviewer Comment (2026-05-08): Received final closing statement signed by all the parties. Exception Cleared.


Buyer Comment (2026-05-07): Final SS
05/08/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169744 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is living rent free with someone other than a spouse. This does not meet guidelines. File is missing underwriter discretion documentation.       Reviewer Comment (2026-05-08): Received [redacted] with UW discretion. Exception Cleared


Buyer Comment (2026-05-06): uw discretion
05/08/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169765 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-05-14): Final title received
05/14/2026     No 1 A A A A A A A A A A   PA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169765 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide a property report verifying it is owned free and clear with taxes paid current.       Reviewer Comment (2026-05-11): Received property history report .Exception cleared.


Buyer Comment (2026-05-07): TAXES PAID


Buyer Comment (2026-05-07): Property profile
05/11/2026     No 1 C A C A C A C A C A   PA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169765 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide verification all liens on the title commitment are satisfied and fully released.       Reviewer Comment (2026-05-14): Final title received reflecting no additional liens.


Buyer Comment (2026-05-12): Final Title
05/14/2026     No 1 C A C A C A C A C A   PA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169719 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   The file is missing a copy of Evidence of Access to Funds Document.       Reviewer Comment (2026-05-12): Evidence of access to funds received


Reviewer Comment (2026-05-11): Provided articles of incorporation is not dated


Buyer Comment (2026-05-07): name change


Buyer Comment (2026-05-07): Articles of incorporation
05/12/2026     No 1 C A C A C A C A C A   NV Investment Purchase   D A D A     A A   N/A No
xxx 2169719 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Rent-free letter was in the file, however, UW Discretion is required for borrower living rent-free with someone other than spouse.       Reviewer Comment (2026-05-11): UW Discretion received for borrower living rent-free with someone other than spouse.


Buyer Comment (2026-05-07): uw discretion
05/11/2026     No 1 C A C A C A C A D A   NV Investment Purchase   D A D A     A A   N/A No
xxx 2169716 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide a property history report to verify the primary residence was owned free and clear prior to the recent loan opened [redacted]. [redacted] month history required.       Reviewer Comment (2026-05-27): Credit supplement and Fraud Report.


Buyer Comment (2026-05-22): The property was not owned free and clear.  It has [redacted] liens.  The first lien has [redacted] months VOM and the Heloc is new.   The property is not free and clear.  Please escalate to management for review.


Reviewer Comment (2026-05-07): Provided credit supplemental was already available on file at initial review. Please provide property history report to verify the primary residence was owned free and clear prior to the recent loan opened [redacted]. Exception Remains.


Buyer Comment (2026-05-05): There are [redacted] liens on the primary residence.  There are [redacted] months reviewed on the first.  Borrower recently took out 2nd lien in [redacted] [redacted].  [redacted] months VOM is reflected.
05/27/2026     No 1 C A C A C A C A C A   IN Investment Purchase   C A C A     A A   N/A No
xxx 2169708 xxx   XXXX     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date [redacted] Hazard Insurance Policy Effective Date ___, Disbursement Date: ___ Effective date [redacted]       Reviewer Comment (2026-06-02): Per client, accepting HOI for the effective date [redacted]


Reviewer Comment (2026-05-07): Cleared in error


Reviewer Comment (2026-05-07): Effective date [redacted]


Buyer Comment (2026-05-05): Policy amount is not required to reflect until fund date [redacted], this is acceptable.  

Kindly clear and waive exception.
06/02/2026     No 1 C A C A C A C A C A   CO Investment Purchase   C A C A     A A   N/A No
xxx 2169735 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Tax liens are required to be paid off.       Reviewer Comment (2026-05-12): Received satisfaction of lien. Exception Cleared.


Buyer Comment (2026-05-08): Kindly Verify from warrant ID and Amount


Buyer Comment (2026-05-08): PFA


Reviewer Comment (2026-05-07): Unable to verify the lien case number on tax due letter. Exception remains.


Buyer Comment (2026-05-05): PFA as requested
05/12/2026     No 1 B A B A B A B A B A   TX Investment Refinance - Cash-out - Other   B A B A     A A   N/A No
xxx 2169743 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Closing statement provided indicates it is an estimate.  Please provide final signed/stamped certified HUD-1/closing statement.       Reviewer Comment (2026-05-12): Received certified copy of closing statement. Exception cleared.


Buyer Comment (2026-05-08): pls see
05/12/2026     No 1 D A D A D A D A D A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169764 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception for property square footage less than [redacted]. Compensating factors: FICO and reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-04): Lender approved exception post close with compensating factors.
    05/04/2026 No 2 B B B B B B B B B B   HI Investment Purchase   C B C B     A A   N/A No
xxx 2169764 xxx   XXXX     Credit Loan Package Documentation Application / Processing Flood FEMA Disaster Issue: The most recent valuation inspection is dated prior to a FEMA disaster.   The subject property is located in a FEMA disaster area. A post disaster inspection verifying there was no damage to the subject property is required.       Reviewer Comment (2026-05-14): PDI received reflecting no damage.


Buyer Comment (2026-05-12): Disaster Inspection Report
05/14/2026     No 1 C A C A C A C A C A   HI Investment Purchase   C B C B     A A   N/A No
xxx 2169718 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   The Note is incomplete as pages [redacted] and and [redacted] are missing.       Reviewer Comment (2026-05-08): Complete Executed Note received and verified the details. Exception Cleared.


Buyer Comment (2026-05-06): PFA Note
05/08/2026     No 1 D A D A D A D A D A   NJ Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169718 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   The OFAC for the business entity was not provided.       Reviewer Comment (2026-05-08): OFAC for the business entity received and verified the details. Exception Cleared.


Buyer Comment (2026-05-06): PFA
05/08/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169718 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Rent-free letter was in the file, however, UW Discretion is required for borrower living rent-free with someone other than spouse.       Reviewer Comment (2026-05-14): Updated [redacted] with UW discretion received in trailing documents.


Buyer Comment (2026-05-12): PFA UW Discretion
05/14/2026     No 1 C A C A C A C A D A   NJ Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169718 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The ID documentation (license, passport, Visa) does not show the borrower(s) at an address [redacted]   The address [redacted]       Reviewer Comment (2026-05-08): Letter of explanation provided for address [redacted]


Buyer Comment (2026-05-06): PFA
05/08/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2169748 xxx   XXXX     Credit Guideline Guideline Issue Guideline Ineligible Property Type per the guidelines.   Subject property is zoned as Agricultural, which is an ineligible property.       Reviewer Comment (2026-05-13): Per credit memo from lender, only excluded when property is a working farm.  Appraisal does not indicate this is a working farm.


Buyer Comment (2026-05-11): Post Closing exception


Buyer Comment (2026-05-11): please re-review the guidelines, guidelines mentioned "Agricultural properties including working farms, ranches, and orchards" whereas our subject property is "Agriculture Residential "


Reviewer Comment (2026-05-08): Guidelines under ineligible property section state [redacted]


Buyer Comment (2026-05-06): Please re-review Appraisal [redacted], Property Zoning is Agriculture Residential which is approved as per guidelines
05/13/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2169730 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-05-14): Final title reflecting no additional liens received.
05/14/2026     No 1 A A A A A A A A A A   CA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169730 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   There are [redacted] liens showing on title and only [redacted] were paid at closing. Provide evidence all liens have been paid and satisfied.       Reviewer Comment (2026-05-14): Final title reflecting no additional liens received.


Buyer Comment (2026-05-12): Final title
05/14/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169709 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2026-05-11): Closing statement received. exception cleared.


Buyer Comment (2026-05-07): See certified HUD attached. Thank you.
05/11/2026     No 1 C A C A C A C A C A   AZ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169709 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   File is missing [redacted] month housing history for subject property. Verification of Mortgage reflects loan opened [redacted].       Reviewer Comment (2026-05-29): Received VOM. Exception Cleared.


Buyer Comment (2026-05-27): Origination date [redacted]


Reviewer Comment (2026-05-19): VOM received now has origination date [redacted], as the current VOM indicates it was opened [redacted] month prior to closing and the additional disbursed amount would not be allowed.


Buyer Comment (2026-05-15): See Note attached. It confirms the amount of all disbursements & dollar amounts. See 2nd paragraph.


Reviewer Comment (2026-05-11): VOM received; however, the original mortgage amount and current payoff amount are not consistent.  Please provide documentation as to original mortgage amount being $[redacted] on [redacted], but payoff being $[redacted] on [redacted].


Buyer Comment (2026-05-07): Revised VOM attached. Thank you.
05/29/2026     No 1 C A C A C A C A C A   AZ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169771 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Document provided is not dated.       Reviewer Comment (2026-05-20): COGS


Buyer Comment (2026-05-18): [redacted] is dated [redacted] at the top of the page


Reviewer Comment (2026-05-14): Document referenced is an internal entity review document.  Please provide COGS dated no more than [redacted] days prior to Note date [redacted]


Buyer Comment (2026-05-12): [redacted] is dated [redacted] at the top of the page


Reviewer Comment (2026-05-12): Provided certificate of good standing was already in file at initial review. Please provide certificate of good standing with dated no more than [redacted] days from the note date [redacted]


Buyer Comment (2026-05-08): COGS
05/20/2026     No 1 C A C A C A C A C A   CT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169771 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide verification the [redacted] statement is for the primary residence. The statement reflects a different address [redacted]       Reviewer Comment (2026-05-12): Received Property History report reflect as free and clear. Exception Cleared.


Buyer Comment (2026-05-08): [redacted] Mortgage is not on the primary residence.  Per property profile, primary residence is owned free and clear
05/12/2026     No 1 C A C A C A C A C A   CT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169728 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Estimated HUD/CS provided.       Reviewer Comment (2026-05-08): Stamped true and certified copy of Final Closing Statement received and verified the details. Exception Cleared.


Buyer Comment (2026-05-06): PFA as requested
05/08/2026     No 1 D A D A D A D A D A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2177459 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Unable to verify the most recent [redacted] months' housing history for the primary residence, as the VOR in the file disclosed rental history from [redacted], [redacted] through [redacted], [redacted].  If renting from a management company, please provide either a fully executed verification of rent or most recent lease agreement, along with a payment history ledger from management company, canceled checks (front and back), or bank statements showing account ownership and payments debited by the management company.  If renting from a private landlord, please provide lease agreement for the address [redacted], along with verification of timely payments made (either by canceled checks (front and back), or bank statements showing ownership and payments debited by the landlord.  Underwriter discretion [redacted] apply.       Reviewer Comment (2026-05-14): Received previous lease and evidence of previous rental payments in trailing documents.


Buyer Comment (2026-05-13): See bk statement history & lease attached.


Buyer Comment (2026-05-13): [redacted] rents are paid per the management VOR thru [redacted]/[redacted].
05/14/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2169753 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is currently living rent free with someone other than a spouse. This does not meet guidelines. File is missing underwriter discretion documentation.       Reviewer Comment (2026-05-12): Received UW Discretion. Exception Cleared.


Buyer Comment (2026-05-08): Underwriter Housing Discretion.
05/12/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169711 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   The market rent for the accessory unit should be documented on [redacted] Form [redacted] and the file must include evidence of [redacted] months' proof of current receipt. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[redacted].

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Debt Service Coverage Ratio: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-29): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-05-27): Please see.


Reviewer Comment (2026-05-20): Provide a [redacted] verifying the rent breakdown for the ADU and for the main house.


Buyer Comment (2026-05-18): Please see.
    05/29/2026 No 2 C B C B C B C B C B   CO Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2169763 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Rent-free letter was in the file; however, UW Discretion is required for borrower living rent-free with someone other than spouse.       Reviewer Comment (2026-05-20): [redacted] comments


Buyer Comment (2026-05-18): PFA
05/20/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169715 xxx   XXXX     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Insurance is insufficient. The shortfall is $[redacted]       Reviewer Comment (2026-05-12): Received replacement cost estimator with estimated cost as $[redacted] Exception cleared.


Buyer Comment (2026-05-08): PFA RCA
05/12/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2169746 xxx   XXXX     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date [redacted]   Policy provided has an effective date [redacted], which is after closing date [redacted]       Reviewer Comment (2026-05-19): Received updated HOI policy.


Buyer Comment (2026-05-15): PFA as requested
05/19/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169746 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final [redacted]   Missing Application for borrower [redacted]. Additional conditions [redacted] apply.       Reviewer Comment (2026-05-13): Received credit application for [redacted] in trailing documents.


Buyer Comment (2026-05-11): PFA initial commercial Loan application
05/13/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169746 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Provide OFAC for the borrowing entity.       Reviewer Comment (2026-05-13): OFAC received


Buyer Comment (2026-05-11): OFAC Search
05/13/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169746 xxx   XXXX     Credit Insurance Insurance Documentation Insurance Hazard Insurance Error: Subject hazard insurance premium is missing from evidence of insurance.   Updated HOI received in trailing documents does not reflect policy premium. DSCR subject to recalculation upon receipt.       Reviewer Comment (2026-05-25): Received hazard insurance document with premium. Exception cleared.


Buyer Comment (2026-05-21): PFA as requested
05/25/2026     No 1   A   A   A   A   A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2169737 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-15): NOO Cert.


Buyer Comment (2026-05-13): Please see attached
05/15/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C B C B     A A   N/A No
xxx 2169737 xxx   XXXX     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date [redacted] Hazard Insurance Policy Effective Date ___, Disbursement Date: ___ Effective date [redacted] Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

Borrowers made a down payment from their own funds on this purchase transaction of at least [redacted]% and $[redacted]
Reserves: [redacted]
Guideline Requirement: [redacted]
Originator,SitusAMC

SitusAMC
Reviewer Comment (2026-05-20): Waived with compensating factors per lender approved exception received in trailing documents.


Reviewer Comment (2026-05-20): Cleared in error


Reviewer Comment (2026-05-20): Per client, accepting HOI for the effective date [redacted]


Buyer Comment (2026-05-18): Please see attached
    05/20/2026 No 2 C B C B C B C B C B   FL Investment Purchase   C B C B     A A   N/A No
xxx 2169733 xxx   XXXX     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: [redacted]           Reviewer Comment (2026-05-14): CDA received


Buyer Comment (2026-05-12): PFA CDA
05/14/2026     No 1 D A D A D A D A D A   AR Investment Refinance - Cash-out - Other   D A A A     D A   N/A No
xxx 2169720 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Rent Free Letter and UW Discretion is missing from file.       Reviewer Comment (2026-05-14): Rent free letter and UW discretion received in trailing docs.


Buyer Comment (2026-05-12): please see attached
05/14/2026     No 1 C A C A C A C A D A   TX Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2173561 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   File is missing verification of [redacted] payment for both primary and subject properties.       Reviewer Comment (2026-02-11): Provided Note of the previous transaction of the subject property where first payment is due on [redacted] till [redacted]. In addition, received email confirmation for primary residence stating [redacted] & [redacted] payments has been made by the borrower. Exception cleared.


Buyer Comment (2026-02-09): note on subect; no payments deferred to exit of the loan.


Buyer Comment (2026-02-09): Primary residence
02/11/2026     No 1 C A C A C A C A C A   NC Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2173561 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Certificate of Non-Owner Occupied shows borrower's primary address [redacted]       Reviewer Comment (2026-02-13): Received Certificate of Non-Owner Occupied showing borrower at an different address [redacted]


Buyer Comment (2026-02-11): Non-owner Cert
02/13/2026     No 1 C A C A C A C A C A   NC Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2173530 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-04-17): Received HUD-1 sigend by all parties. Exception cleared.


Buyer Comment (2026-04-15): Final SS
04/17/2026     No 1 D A D A D A D A D A   NJ Investment Purchase   D A D A     A A   N/A No
xxx 2173530 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   The business name on the Certificate of Good standing is different from the business name on the Note.       Reviewer Comment (2026-06-05): Corrected Note and SI received.  COGS in file is for our borrowing entity.


Reviewer Comment (2026-06-05): Evidence of delivery received.  Still pending the destroyed Note/guaranty affidavit.  The document received appears to be the LOE to the borrower and does not indicate that the original Note and guaranty agreement will be destroyed.


Buyer Comment (2026-06-05): [redacted] label


Reviewer Comment (2026-06-04): Missing the Destroyed Guaranty Agreement letter and evidence documents were sent to the borrower prior to signing date [redacted];Mailing Envelope with tracking number.


Buyer Comment (2026-06-03): email to Bwr


Buyer Comment (2026-06-03): Destroyed note affadavit


Reviewer Comment (2026-06-01): Destroyed Note affidavit is required to be signed by someone from management team. Missing the destroyed Guaranty letter and evidence the corrected documents were sent to borrower to be signed.


Buyer Comment (2026-05-28): affidavit


Buyer Comment (2026-05-28): security instrutment


Reviewer Comment (2026-05-13): Revised Note and proof of delivery to borrower received; however, still pending corrected Security Instrument, with evidence of intent to record corrected document, and destroyed Note affidavit, along with destroyed guarantor agreement affidavit for original documents signed at consummation.


Buyer Comment (2026-05-11): Borrower correction email


Buyer Comment (2026-05-11): revised Note and Guaranty


Reviewer Comment (2026-04-17): Unbale to verify the formation date [redacted]


Buyer Comment (2026-04-15): Per guidelines, Not required if the LLC was formed within the last [redacted] months
06/05/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   D A D A     A A   N/A No
xxx 2173530 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   The business name on the Corporate Resolution is different from the business name on the Note.       Reviewer Comment (2026-06-09): Corrected Note and SI received.  Operating agreement & Corporate Res in file is for our borrowing entity.


Reviewer Comment (2026-06-04): Missing the Destroyed Guaranty Agreement letter and evidence documents were sent to the borrower prior to signing date [redacted];Mailing Envelope with tracking number.


Buyer Comment (2026-06-03): see attached docs


Reviewer Comment (2026-06-01): Destroyed Note affidavit is required to be signed by someone from management team. Missing the destroyed Guaranty letter and evidence the corrected documents were sent to borrower to be signed.


Buyer Comment (2026-05-28): see attached docs


Reviewer Comment (2026-05-13): Revised Note and proof of delivery to borrower received; however, still pending corrected Security Instrument, with evidence of intent to record corrected document, and destroyed Note affidavit, along with destroyed guarantor agreement affidavit for original documents signed at consummation.


Buyer Comment (2026-05-11): see attached revised note
06/09/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   D A D A     A A   N/A No
xxx 2173530 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   The business name on the Operating Agreement is different from the business name on the Note.       Reviewer Comment (2026-06-05): Corrected Note and SI received.  Operating agreement in file is for our borrowing entity.


Reviewer Comment (2026-06-04): Missing the Destroyed Guaranty Agreement letter and evidence documents were sent to the borrower prior to signing date [redacted];Mailing Envelope with tracking number.


Buyer Comment (2026-06-03): see attached docs


Reviewer Comment (2026-06-01): Destroyed Note affidavit is required to be signed by someone from management team. Missing the destroyed Guaranty letter and evidence the corrected documents were sent to borrower to be signed.


Buyer Comment (2026-05-28): see attached docs


Reviewer Comment (2026-05-13): Revised Note and proof of delivery to borrower received; however, still pending corrected Security Instrument, with evidence of intent to record corrected document, and destroyed Note affidavit, along with destroyed guarantor agreement affidavit for original documents signed at consummation.


Buyer Comment (2026-05-11): see attached revised note
06/05/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   D A D A     A A   N/A No
xxx 2173530 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   The business name on the Articles of Formation is different from the business name on the Note.       Reviewer Comment (2026-06-05): Corrected Note and SI received.  Articles of Organization in file is for our borrowing entity.


Reviewer Comment (2026-06-04): Missing the Destroyed Guaranty Agreement letter and evidence documents were sent to the borrower prior to signing date [redacted];Mailing Envelope with tracking number.


Buyer Comment (2026-06-03): see attached docs


Reviewer Comment (2026-06-01): Destroyed Note affidavit is required to be signed by someone from management team. Missing the destroyed Guaranty letter and evidence the corrected documents were sent to borrower to be signed.


Buyer Comment (2026-05-28): see attached docs


Reviewer Comment (2026-05-13): Revised Note and proof of delivery to borrower received; however, still pending corrected Security Instrument, with evidence of intent to record corrected document, and destroyed Note affidavit, along with destroyed guarantor agreement affidavit for original documents signed at consummation.


Buyer Comment (2026-05-11): see attached revised note
06/05/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   D A D A     A A   N/A No
xxx 2173530 xxx   XXXX     Credit Loan Package Documentation Closing / Title Loan Package Documentation Title Error: Title vesting does not concur with deed   Vesting on title commitment provided is in individual name; however, loan closed in entity name.  Please provide deed signed at closing transferring ownership to our borrower or final title reflecting our borrower as vested owner.       Reviewer Comment (2026-06-01): Corrected/recorded Security Instrument & Deed received.


Buyer Comment (2026-05-29): final title


Buyer Comment (2026-05-28): see attached docs


Reviewer Comment (2026-05-13): Received recorded deed.  Condition to be re-reviewed upon receipt of corrected Security Instrument.


Buyer Comment (2026-05-11): Deed


Buyer Comment (2026-05-11): see attached revised note
06/01/2026     No 1   A   A   A   A   A   NJ Investment Purchase   D A D A     A A   N/A No
xxx 2173531 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Missing final HUD       Reviewer Comment (2026-06-04): Final SS.


Buyer Comment (2026-06-03): Final SS


Reviewer Comment (2026-05-04): The provided HUD-1 is the draft copy on which seller details; settlement date [redacted]


Buyer Comment (2026-04-30): Please see attached Final HUD
06/04/2026     No 1 C A C A C A C A C A   MS Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173531 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Certificate of Non-Owner Occupied disclosure does not show the borrower's principle address [redacted]       Reviewer Comment (2026-05-04): The Certificate of Non-Owner Occupied received showing the borrower(s) at different address [redacted]


Buyer Comment (2026-04-30): Please see attached Certificate of Non-Owner Occupancy
05/04/2026     No 1 C A C A C A C A C A   MS Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173532 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower lives rent free with spouse. A rent free letter from the borrowers spouse is required.       Reviewer Comment (2026-05-06): Received LOE from spouse and copy of mortgage statement, which meets guideline requirements.


Reviewer Comment (2026-05-05): The provided rent-free letter is insufficient. Please provide a detailed Letter of Explanation from the individual with whom the borrower (mention borrower's name) resides, confirming their relationship, rent-free living arrangement, and the applicable time frame. Exception remains.


Buyer Comment (2026-05-01): Rent-Free letter from spouse.
05/06/2026     No 1 C A C A C A C A C A   CT Investment Purchase   C A C A     A A   N/A No
xxx 2173556 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final [redacted]   The file is missing a copy of final [redacted].       Reviewer Comment (2026-04-30): Final Credit Application received, exception cleared


Buyer Comment (2026-04-28): PFA
04/30/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2173536 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Missing borrower signing authorization from other member of [redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC
Reviewer Comment (2026-06-08): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-04): Please see attached. Thank you.


Reviewer Comment (2026-05-11): Please provide borrower signing authorization form from other member of [redacted]. Exception remains.


Buyer Comment (2026-05-07): Please see attached signatures by both members of [redacted].


Buyer Comment (2026-05-07): Please note per OP there is NO other member other than the Borrower.
    06/08/2026 No 2 C B C B C B C B C B   GA Investment Purchase   C B C B     A A   N/A No
xxx 2173547 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Approved Lender Exception - Adequate insurance coverage meeting Fannie Mae standards, Missing equipment breakdown coverage.
Compa Factor - [redacted] point over the min. credit score, >[redacted] Yrs investor Experience, DSCE >[redacted]%, Budgeted reserves = [redacted]% (required [redacted]%), No credit Lates in >= [redacted] months, >[redacted] tradelines rated for >[redacted] yrs, CDFI
Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC
Reviewer Comment (2026-05-06): Waived with compensating factors per lender exception approval at origination.
    05/06/2026 No 2 B B B B B B B B B B   FL Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2173573 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception is requested because the borrower has a FICO score of [redacted] and needs a [redacted] FICO to obtain [redacted]% LTV leverage. He has not had any lates in the last [redacted] months, has $[redacted] in bank accounts, and he meets the tradeline requirement. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months. Reserves: [redacted]
Guideline Requirement: [redacted]
Originator Pre-Close,SitusAMC Reviewer Comment (2026-05-07): Waived with compensating factors per lender exception approval at origination.
    05/07/2026 No 2 B B B B B B B B B B   IL Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2173534 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is currently living with spouse rent free. File is missing mortgage statement in spouse's name only.       Reviewer Comment (2026-06-02): Property profile report received reflecting mortgage in spouse's name.


Reviewer Comment (2026-05-18): Received lender rebuttal; however, guidelines for someone living rent free with a spouse require the mortgage statement along with the LOE.  The property profile is acceptable if the property is owned free and clear, which per the report, it is not.


Buyer Comment (2026-05-14): Please see attached
06/02/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173577 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-05-22): Final title.
05/22/2026     No 1 A A A A A A A A A A   NY Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173577 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided           Reviewer Comment (2026-05-22): Final SS.


Buyer Comment (2026-05-21): PFA
05/22/2026     No 1 C A C A C A C A C A   NY Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173577 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.           Reviewer Comment (2026-05-22): Final title.


Buyer Comment (2026-05-20): Please find attached Final Title policy.


Reviewer Comment (2026-05-18): Document provided appears to be an updated commitment.  Please provide all pages of the commitment for review.  Original commitment is dated [redacted]; new document uploaded is dated [redacted].


Buyer Comment (2026-05-14): PFA
05/22/2026     No 1 B A B A B A B A B A   NY Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173565 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-06-09): Final SS.


Buyer Comment (2026-06-08): Final HUD
06/09/2026     No 1 D A D A D A D A D A   TX Investment Refinance - Rate/Term   D A D A     A A   N/A No
xxx 2173533 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide a property report verifying it is owned free and clear with taxes paid current.       Reviewer Comment (2026-06-10): Property report verifying the spouse owns the property free and clear.


Buyer Comment (2026-06-09): PP


Reviewer Comment (2026-06-09): Provide a mortgage statement or lease to evidence the borrower is not listed on the mortgage/lease or a property report to verify the primary is owned free and clear.


Buyer Comment (2026-06-05): rent free loe


Buyer Comment (2026-06-05): [redacted]
06/10/2026     No 1 C A C A C A C A C A   AR Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2173544 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   Title Policy Coverage is less than Original Loan Amount. The title commitment in file disclosed $[redacted] of title insurance coverage, however, this is less than the loan amount of $[redacted] Provide copy of the final title policy or an addendum to the title preliminary/commitment report verifying title insurance of at least the loan amount.       Reviewer Comment (2026-06-05): Updated title commitment.


Buyer Comment (2026-06-03): Updated Loan Amt on Prelim
06/05/2026     No 1 B A B A B A B A B A   AZ Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2173544 xxx   XXXX     Credit Loan Package Documentation Closing / Title Loan Package Documentation Title search shows negative impact on title.   Provide evidence the ordinance violation listed on title is released.       Reviewer Comment (2026-06-05): Satisfaction.


Buyer Comment (2026-06-03): Violation Notice Cleared
06/05/2026     No 1 C A C A C A C A C A   AZ Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2173539 xxx   XXXX     Credit Loan Package Documentation Application / Processing Flood FEMA Disaster Issue: The most recent valuation inspection is dated prior to a FEMA disaster.   The subject property is located in a FEMA disaster area. A post-disaster inspection verifying there was no damage to the subject property is required.       Reviewer Comment (2026-05-20): Post Disaster inspection.


Buyer Comment (2026-05-18): PFA post-disaster inspection report
05/20/2026     No 1 C A C A C A C A C A   HI Investment Purchase   C A C A     A A   N/A No
xxx 2173539 xxx   XXXX     Credit Title Document Error Title The Commitment or Preliminary title policy does not reflect a coverage amount (no final title policy in file). Unable to determine if appropiate coverage is provided.   The Preliminary Title Policy is within HI and does not reflect a coverage amount (no Final Title Policy in file). Unable to determine if appropriate coverage is provided.       Reviewer Comment (2026-05-18): Received title supplement with sufficient insurance


Buyer Comment (2026-05-14): Please re-review D-[redacted] the document Heading of the document is Title guaranty of [redacted], and if you read the entire document, it gives guaranty of covering amount and right side of the document loan amount, lender mortgagee clause are provided


Reviewer Comment (2026-05-13): Document provided is escrow instructions and is not able to be used in lieu of supplement/title commitment reflecting title policy amount.


Buyer Comment (2026-05-11): PFA
05/18/2026     No 1 C A C A C A C A C A   HI Investment Purchase   C A C A     A A   N/A No
xxx 2173558 xxx   XXXX     Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Both individuals signed Note as trustees and file is missing credit report for [redacted].       Reviewer Comment (2026-06-28): Corrected Note and destroyed Note affidavit received, updating signatures with one as individual and trustee and co-trustee as just trustee, not requiring credit documents.


Buyer Comment (2026-06-26): Corrected Note and docs uploaded.
06/28/2026     No 1   A   A   A   A   A   FL Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
xxx 2173558 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final [redacted]   Both individuals signed Note as trustees and file is missing credit application for [redacted].       Reviewer Comment (2026-06-28): Corrected Note and destroyed Note affidavit received, updating signatures with one as individual and trustee and co-trustee as just trustee, not requiring credit documents.
06/28/2026     No 1   A   A   A   A   A   FL Investment Refinance - Cash-out - Other   A A A A     A A   N/A No
xxx 2173542 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower. Documented qualifying Assets for Closing of  ___ is less than Cash From Borrower ___. Verified liquid assets in the amount of $[redacted] are insufficient to meet cash to close of $[redacted] Final [redacted] reflects $[redacted] verified, however, due to cash to close being higher than verified assets, funds are falling short. The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-06-05): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-03): Exception Approval
    06/05/2026 No 2 C B C B C B C B C B   NY Investment Purchase   C B C B     A A   N/A No
xxx 2173559 xxx   XXXX     Property Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal was made "subject to" and Form [redacted]4D/[redacted] was not provided. -         Reviewer Comment (2026-05-15): [redacted] provided.


Buyer Comment (2026-05-13): [redacted]4D
05/15/2026     No 1 C A C A C A C A C A   CA Investment Purchase   D B D B     C A   N/A No
xxx 2173559 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Estimate provided.       Reviewer Comment (2026-05-15): HUD


Buyer Comment (2026-05-13): Final SS
05/15/2026     No 1 D A D A D A D A D A   CA Investment Purchase   D B D B     C A   N/A No
xxx 2173559 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Provide the invoice from [redacted].       Reviewer Comment (2026-05-22): Invoice


Buyer Comment (2026-05-20): invoice
05/22/2026     No 1 C A C A C A C A D A   CA Investment Purchase   D B D B     C A   N/A No
xxx 2173559 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___. Using the lower value between the [redacted] appraisals provided. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[redacted].

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Debt Service Coverage Ratio: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC

SitusAMC
Reviewer Comment (2026-05-15): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-05-14): exception
    05/15/2026 No 2 C B C B C B C B C B   CA Investment Purchase   D B D B     C A   N/A No
xxx 2173545 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide UW discretion for borrower living rent free.       Reviewer Comment (2026-05-20): [redacted] comments.


Buyer Comment (2026-05-18): [redacted]
05/20/2026     No 1 C A C A C A C A C A   VA Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2173541 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide either a [redacted] month pay history or a property report verifying it is owned free and clear with taxes paid current.       Reviewer Comment (2026-05-20): Proeprty report verifying no lien and taxes are current..


Buyer Comment (2026-05-18): taxes paid


Buyer Comment (2026-05-18): Property profile
05/20/2026     No 1 C A C A C A C A C A   LA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173572 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.   Using Market Rent of $[redacted] & PITIA of $[redacted] puts DSCR at [redacted].       Reviewer Comment (2026-05-20): Lease, copy of check and evidence of deposit provided to use higher lease amount.


Buyer Comment (2026-05-18): $[redacted] rent was used to qualify.
05/20/2026     No 1 C A C A C A C A C A   IL Investment Purchase   C A C A     A A   N/A No
xxx 2173552 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Provide evidence of signing authority. Must be signed by both owners of the borrowing entity.       Reviewer Comment (2026-06-01): Received Borrower Certificate. Exception Cleared.


Buyer Comment (2026-05-28): Corp resolution
06/01/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2173546 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-05-20): Final title.
05/20/2026     No 1 A A A A A A A A A A   KY Investment Purchase   D B D B     A A   N/A No
xxx 2173546 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Borrowers living rent free with a spouse are acceptable with rent-free letter from spouse and evidence of spouse's mortgage or current lease. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC
Reviewer Comment (2026-06-11): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-09): exception


Reviewer Comment (2026-05-20): Provide rent free letter from [redacted] for [redacted] living rent free at the primary residence.


Buyer Comment (2026-05-18): mtg statement


Buyer Comment (2026-05-18): Bwr owns their primary residence.
    06/11/2026 No 2 C B C B C B C B D B   KY Investment Purchase   D B D B     A A   N/A No
xxx 2173546 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Title reflects [redacted] seller liens and only [redacted] was paid at closing. Verify all liens have been paid and released.       Reviewer Comment (2026-05-20): Final title.


Buyer Comment (2026-05-19): Final title
05/20/2026     No 1 C A C A C A C A C A   KY Investment Purchase   D B D B     A A   N/A No
xxx 2173575 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Certificate of Non-Owner Occupied disclosure does not show the borrower's principal address [redacted]       Reviewer Comment (2026-05-19): Received fully completed NOO certificate


Buyer Comment (2026-05-15): Non-Owner
05/19/2026     No 1 C A C A C A C A C A   MN Investment Purchase   C A C A     A A   N/A No
xxx 2173553 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-06-11): Final title.


Reviewer Comment (2026-06-11): EXCEPTION HISTORY - Exception Explanation was updated on [redacted] PRIOR Exception Explanation: Title Evidence: Commitment
06/11/2026     No 1 A A A A A A A A A A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173553 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Loan is included in a blanket mortgage. Provide verification the lien against the subject property is paid in full and/or verify the property is fully released from the blanket lien.       Reviewer Comment (2026-06-11): Final title.


Buyer Comment (2026-06-09): final title
06/11/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173553 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide either a [redacted] month pay history or a property report verifying it is owned free and clear with taxes paid current.       Reviewer Comment (2026-05-21): Received property history report reflecting primary owned free and clear and tax certificate reflecting no past due taxes.


Buyer Comment (2026-05-19): Tax


Buyer Comment (2026-05-19): PP
05/21/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173553 xxx   XXXX     Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Provide a pay history from [redacted] for the subject property.       Reviewer Comment (2026-06-03): Mortgage payoff and Note verifying funds were held for the interest payments in the amount of $[redacted]


Reviewer Comment (2026-06-01): Provided promissory note, does not have subject property address [redacted]


Buyer Comment (2026-05-28): Note - no payments due


Reviewer Comment (2026-05-21): An electronic pay history was provided; however, guidelines also require bank statements or canceled checks front and back as well as the most recent mortgage statement.


Buyer Comment (2026-05-19): payment history


Buyer Comment (2026-05-19): account history summary
06/03/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173543 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Verification of Non-[redacted]  Citizen Status not provided           Reviewer Comment (2026-05-19): Permanent resident card received.


Buyer Comment (2026-05-15): green card
05/19/2026     No 1 C A C A C A C A C A   MI Investment Purchase   C A C A     A A   N/A No
xxx 2173554 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy. Title Evidence: ___         Reviewer Comment (2026-06-11): Final title.
06/11/2026     No 1 A A A A A A A A A A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173554 xxx   XXXX     Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Provide a pay history for the subject property.       Reviewer Comment (2026-06-02): Note provided verifying that the interest payments required were collected up front in the amount oof $[redacted]


Reviewer Comment (2026-06-01): Provided document does not verify the address [redacted]


Buyer Comment (2026-05-28): account summary


Buyer Comment (2026-05-28): Note- no payment due


Reviewer Comment (2026-05-22): Document provided has no address [redacted]


Buyer Comment (2026-05-20): payment history
06/02/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173554 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Loan is included in a blanket mortgage. Provide verification the lien against the subject property is paid in full and/or verify the property is fully released from the blanket lien.       Reviewer Comment (2026-06-11): Final title.


Buyer Comment (2026-06-09): final Title
06/11/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2173560 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-21): Certificate of NOO received.


Buyer Comment (2026-05-19): Non-Owner
05/21/2026     No 1 C A C A C A C A C A   CO Investment Purchase   C A C A     A A   N/A No
xxx 2173560 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - All collections with balances greater than $[redacted] required to be paid in full either prior to closing or at closing.       Reviewer Comment (2026-05-21): Creditor letter dated prior to consummation stating collection to be removed from credit received.


Buyer Comment (2026-05-19): Collection paid
05/21/2026     No 1 B A B A B A B A B A   CO Investment Purchase   C A C A     A A   N/A No
xxx 2173537 xxx   XXXX     Credit Loan Package Documentation Application / Processing Flood FEMA Disaster Issue: The most recent valuation inspection is dated prior to a FEMA disaster.           Reviewer Comment (2026-06-02): PDI provided.


Buyer Comment (2026-05-29): disaster inspection
06/02/2026     No 1 C A C A C A C A C A   HI Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2167966 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide evidence of UW discretion for borrower living rent free with other than a spouse.       Reviewer Comment (2026-03-03): Received [redacted] with underwriter's comment. Exception Cleared.


Buyer Comment (2026-02-27): UW discretion
03/03/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2167969 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   VOR provided is not completed with an address [redacted]       Reviewer Comment (2026-03-04): Received VOR with property address [redacted]


Buyer Comment (2026-03-02): VOR
03/04/2026     No 1 C A C A C A C A D A   NJ Investment Purchase   D A D A     A A   N/A No
xxx 2167965 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Closing statement is required for subject property. Additional conditions [redacted] apply.       Reviewer Comment (2026-03-10): Received final closing statement. Exception cleared.


Buyer Comment (2026-03-06): final SS
03/10/2026     No 1 C A C A C A C A C A   KY Investment Purchase   C A C A     A A   N/A No
xxx 2167965 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy.   Calculated loan to value percentage of [redacted]% exceeds Guideline loan to value percentage of [redacted]%. Due to [redacted] months rent was not verified. The bank statement shows a deposit with the checks but it does not verify they are from tenant on the lease or for the subject property.       Reviewer Comment (2026-03-25): Proof of rent and security deposit has been received. Qualifying rent has been updated accordingly. LTV meets guideline requirements. Exception Cleared.


Buyer Comment (2026-03-23): check images
03/25/2026     No 1 C A C A C A C A C A   KY Investment Purchase   C A C A     A A   N/A No
xxx 2167968 xxx   XXXX     Credit Loan Package Documentation Closing / Title Loan Package Documentation Title search shows negative impact on title.   There are [redacted] sellers liens on title from [redacted] for $[redacted] & $[redacted] Neither were paid at closing.       Reviewer Comment (2026-03-25): Received satisfaction of security Instrument. Exception Cleared.


Buyer Comment (2026-03-23): please see
03/25/2026     No 1 C A C A C A C A C A   NC Investment Purchase   C A C A     A A   N/A No
xxx 2167971 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2026-03-19): Received final closing statement. Exception cleared.


Buyer Comment (2026-03-17): Final SS
03/19/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2167971 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-03-17): Provided Non-Owner Occupancy Declaration with primary residence address [redacted]


Buyer Comment (2026-03-13): Non-Owner
03/17/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2167971 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Source of Funds/Deposit not provided   File is missing verification gift funds were received.       Reviewer Comment (2026-03-19): Per final [redacted] loan application, gift funds were not utilized in review. Exception cleared.


Buyer Comment (2026-03-17): gift funds were not used; Borrower has sufficient funds without the gift
03/19/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2167971 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide UW discretion for living rent free with non spouse.       Reviewer Comment (2026-03-17): Provided [redacted] form with underwriter discretion for occupancy. Exception cleared.


Buyer Comment (2026-03-13): UW discretion
03/17/2026     No 1 C A C A C A C A C A   AL Investment Purchase   C A C A     A A   N/A No
xxx 2167976 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Provide a pay history for the subject property. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months. Reserves: [redacted]
Guideline Requirement: [redacted]
Originator,SitusAMC Reviewer Comment (2026-05-22): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-05-20): Please see exception attached. Thank you.


Buyer Comment (2026-05-20): VOM for subject not reporting on credit, commercial loan under the business; current mortgage rating for mortgages reporting on credit report 0x3[redacted]. __AL1[redacted]__ primary owned free and clear per property profile. __AL1[redacted]__ mortgage reporting on credit.; __AL1[redacted]__ also has less than [redacted] year residence history on application


Reviewer Comment (2026-04-13): Reviewed documents provided; however, they do not address [redacted]


Buyer Comment (2026-04-09): Please see attached. Thank you.
    05/22/2026 No 2 C B C B C B C B D B   FL Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2167976 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide either a pay history or property report evidencing both primary residences are owned free and clear with taxes paid current.       Reviewer Comment (2026-05-22): Credit and property reprot.


Buyer Comment (2026-05-20): VOM for subject not reporting on credit, commercial loan under the business; current mortgage rating for mortgages reporting on credit report 0x3[redacted]. __AL1[redacted]__ primary owned free and clear per property profile. __AL1[redacted]__ mortgage reporting on credit.; __AL1[redacted]__ also has less than [redacted]-year residence history on application
05/22/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2167970 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   For the subject property, provide bank statements showing account ownership and timely payments debited by Mortgage Servicer or canceled checks front and back. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-20): Waived with compensating factors per lender approved exception received in trailing documents.


Buyer Comment (2026-05-18): exception
    05/20/2026 No 2 C B C B C B C B C B   CA Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2167970 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Provide the final Closing Statement fully executed by the all parties or stamped true and certified. Copy provided is not signed.       Reviewer Comment (2026-04-17): Received final closing statement. Exception Cleared.


Buyer Comment (2026-04-15): Final SS
04/17/2026     No 1 D A D A D A D A D A   CA Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2167975 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   Please provide operating agreement for [redacted] The qualifying DSCR on the loan is greater than the guideline minimum.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.
The DSCR of [redacted] is greater than the minimum required DSCR of [redacted].

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC,Originator

Originator,SitusAMC

SitusAMC
Reviewer Comment (2026-05-21): Waived with compensating factors per lender request.


Buyer Comment (2026-05-20): [redacted], PLEASE accept our request for a waive for this loan.
Borrowers' fico is [redacted]+ points over the min required & the DSCR score is over [redacted]%.
Thank you.


Reviewer Comment (2026-05-20): Received operating agreement reflecting our borrower owns [redacted]% of the entity listed on statements.  Please provide access letter signed by our guarantor, [redacted] and [redacted] giving our guarantor [redacted]% access to these funds.


Reviewer Comment (2026-04-24): Received operating agreement for [redacted], however the account holder entity is not owned [redacted]% by the Guarantor or the borrowing entity, an access letter will be required. Exception remains.


Buyer Comment (2026-04-22): Please see operating agreement attached. Thank you!!


Reviewer Comment (2026-04-10): Received operating agreement for [redacted]. required operating agreement for [redacted]. Exception Remains


Buyer Comment (2026-04-08): Please see attached. Thank you.
    05/21/2026 No 2 C B C B C B C B C B   NJ Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2167973 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Borrower is short funds to close.  The Operating Agreement related to the bank statement disclosed that borrower owns [redacted]% of the business.       Reviewer Comment (2026-05-22): Gift letter and wire receipt received


Buyer Comment (2026-05-21): Please see gift letter attached. Thank you.


Buyer Comment (2026-05-21): Please see attached gift wire confirmation. Thank you.


Reviewer Comment (2026-05-20): Line [redacted] of the closing statement reflects cash from borrower of $[redacted] + Line [redacted] appraisal POC $[redacted] = $[redacted] required funds.  The $[redacted] on line [redacted] are the settlement charges to the borrower and not the required cash to close.


Buyer Comment (2026-05-19): Borrower only needed $[redacted] to close apologies [redacted]. Thank you.


Buyer Comment (2026-05-19): Please see final HUD Borrower only needed $[redacted]k to close. Thank you.
05/22/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2167974 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2026-04-14): Received Final closing statement. Exception Cleared.


Buyer Comment (2026-04-10): Please see attached Final HUD-1
04/14/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2167974 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   File is missing verification of [redacted] [redacted] mortgage payment for the subject property.       Reviewer Comment (2026-04-17): Received VOM for the subject property. Exception Cleared.


Buyer Comment (2026-04-15): Please see VOM reflecting [redacted]/[redacted] mtg payment made. Thank you.
04/17/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2167974 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Source of Funds/Deposit not provided   File is missing verification of gift funds.       Reviewer Comment (2026-04-16): Received Verification of Deposit and Wire Confirmation for Gift Funds. Exception Cleared.


Buyer Comment (2026-04-14): Please see attached. Thank you.
04/16/2026     No 1 C A C A C A C A C A   NJ Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2167974 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide bank statements showing account ownership and timely payments debited by mortgage servicer or canceled checks front and back as well as the most recent mortgage statement. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-05): Waived with compensating factors per lender approved exception received in trailing documents.  VOM provided is in entity name not affiliated with our borrowing entity or guarantor.


Buyer Comment (2026-05-01): Please see exception attached. Thank you.


Reviewer Comment (2026-04-24): Name and address [redacted]


Buyer Comment (2026-04-22): Please see attached VOM for subject. Thank you.


Reviewer Comment (2026-04-15): Require subject property mortgage payment history. Exception Remains.


Buyer Comment (2026-04-13): [redacted], please advise for which property you are referring to primary or subject? Thank you.
    05/05/2026 No 2 C B C B C B C B C B   NJ Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2167974 xxx   XXXX     Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Issue:  Refinance seasoning requirements not met   Please provide evidence that our guarantor has an ownership interest in the entity listed on title at time of subject transaction.  Documentation in the file indicates that the current entity owner of the subject property has one member, which is not our guarantor, and loan closed as a refinance transaction. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-28): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-05-26): Please see exception attached. Thank you.


Reviewer Comment (2026-05-08): Document provided was in original submission.  Please provide nature of relationship to determine if buyout meets refinance seasoning requirements.  The document is dated [redacted]; however, our subject loan closed [redacted].  If property was transferred to our entity name prior to our transaction, please provide updated title commitment or recorded deed reflecting this.


Buyer Comment (2026-05-06): Please see attached buyout agreement. Thank you.
    05/28/2026 No 2   B   B   B   B   B   NJ Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2167980 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-05-12): Final title received in trailing documents.
05/12/2026     No 1 A A A A A A A A A A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2167980 xxx   XXXX     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.   Title Commitment reflects an ALTA Loan Policy amount is missing and subject loan amount of $[redacted] Final Title Policy was not provided to verify sufficient title coverage was obtained.       Reviewer Comment (2026-05-12): Final title reflecting sufficient coverage received in trailing documents.


Buyer Comment (2026-05-12): Final title
05/12/2026     No 1 B A B A B A B A B A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2167980 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Final signed HUD/CD is missing in the file.       Reviewer Comment (2026-05-01): Received certified copy of Final closing statement. Exception cleared.


Buyer Comment (2026-04-29): Final SS
05/01/2026     No 1 C A C A C A C A C A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2167980 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Application indicates borrower as [redacted]  citizen, however employment authorization card is provided as evidence of non-US citizen.       Reviewer Comment (2026-05-12): Corrected credit application received in trailing documents.


Buyer Comment (2026-05-09): revised commercial app
05/12/2026     No 1 C A C A C A C A C A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2167980 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Missing VOR for primary residence.       Reviewer Comment (2026-05-01): Received Verification of Rent for Primary Residence. Exception cleared.


Buyer Comment (2026-04-29): VOR
05/01/2026     No 1 C A C A C A C A D A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2167980 xxx   XXXX     Credit Guideline Guideline Issue Guideline Borrower is a first time home buyer and ineligible per guidelines. - Missing verification of housing history for primary residence.       Reviewer Comment (2026-05-01): Received Verification of Rent for Primary Residence. Exception cleared.


Buyer Comment (2026-04-29): see attached VOR
05/01/2026     No 1 C A C A C A C A C A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2167981 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   File is missing verification of [redacted]/[redacted] rent payment on primary residence.       Reviewer Comment (2026-05-01): Received a letter confirming that the rent for [redacted] was paid in cash, along with a bank statement showing a cash withdrawal for the same period. Exception cleared.


Buyer Comment (2026-04-29): cash payments loe


Buyer Comment (2026-04-29): bank statement
05/01/2026     No 1 C A C A C A C A C A   MO Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2168013 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception for borrower pays rent in cash. The qualifying DSCR on the loan is greater than the guideline minimum. The DSCR of [redacted].[redacted] is greater than the minimum required DSCR of [redacted]. SitusAMC,Originator Pre-Close Reviewer Comment (2026-04-24): Waived with compensating factors per lender exception approval.
    04/24/2026 No 2 B B B B B B B B B B   TX Investment Refinance - Rate/Term   B B B B     A A   N/A No
xxx 2167978 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-05): Received Certificate of Non-Owner Occupied with primary property address [redacted]


Buyer Comment (2026-05-01): Non-Owner
05/05/2026     No 1 C A C A C A C A C A   CO Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2167984 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   HUD provided is not signed by the title agent.       Reviewer Comment (2026-05-01): Received Final closing statement document. Verified and updated details. Exception Cleared.


Buyer Comment (2026-04-29): PFA
05/01/2026     No 1 D A D A D A D A D A   NY Investment Purchase   D A D A     A A   N/A No
xxx 2167984 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Require additional assets to fulfill cash from borrower requirements.       Reviewer Comment (2026-05-06): Recalculated funds to close. Exception cleared.


Buyer Comment (2026-05-04): Please refer Final SS [redacted] and [redacted] cash from borrower is $[redacted]
05/06/2026     No 1   A   A   A   A   A   NY Investment Purchase   D A D A     A A   N/A No
xxx 2167994 xxx   XXXX     Credit System General Appraisal Reconciliation Valuation address [redacted] - Valuation address [redacted]       Reviewer Comment (2026-05-27): Received [redacted] Appraisal with correct city [redacted]


Buyer Comment (2026-05-22): Please see attached Revised Appraisal Report
05/27/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2167994 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Missing UW discretion for borrower living rent free.       Reviewer Comment (2026-05-06): Received UW discretion for borrower living rent free. Exception cleared.


Buyer Comment (2026-05-04): uw discretion
05/06/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2167985 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Credit report disclosed a collection under the borrower's name. Collection was not paid off at closing and file is missing the required payment documentation or proof the collection was paid in full and satisfied.       Reviewer Comment (2026-05-18): Payment receipt and request to delete from credit dated [redacted] in loan file.  Considered settled for less, as lender unable to provide proof of payment amount.


Reviewer Comment (2026-05-11): Please provide letter of explanation to verify collection payment. Exception remains.


Buyer Comment (2026-05-07): collection paid
05/18/2026     No 1 B A B A B A B A B A   CO Investment Purchase   B A B A     A A   N/A No
xxx 2168001 xxx   XXXX     Credit Missing Document General Missing Document Incomplete Document: [redacted] Final is incomplete   Unable to verify that borrower will not occupy subject property as the primary residence as page [redacted] of the Credit Application was not provided.  Please provide an updated document.       Reviewer Comment (2026-05-07): All pages of commercial application received and verified the details. Exception Cleared.


Buyer Comment (2026-05-05): Please see all pages of the commercial [redacted] attached. Thank you.
05/07/2026     No 1 C A C A C A C A C A   CO Investment Purchase   D A D A     A A   N/A No
xxx 2168001 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Guarantor Agreement not provided   The Guaranty Agreement is missing the signature page.       Reviewer Comment (2026-05-07): Executed Guaranty Agreement received and verified the details. Exception Cleared.


Buyer Comment (2026-05-05): Please see attached with all pages of guaranty. Thank you.


Buyer Comment (2026-05-05): Please see signature page attached. Thank you.
05/07/2026     No 1 D A D A D A D A D A   CO Investment Purchase   D A D A     A A   N/A No
xxx 2167986 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   VOM for primary property reflects [redacted] late payments in last [redacted] months. The file does not explain how many days late to verify if it meets guidelines.       Reviewer Comment (2026-05-11): Revised VOM received reflects [redacted] late payment and those have been paid within week.


Buyer Comment (2026-05-07): Please see revised vom attached. Thank you.
05/11/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2167995 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Non-Owner Occupancy Declaration is incomplete as Section [redacted] is missing the principal residence address [redacted]       Reviewer Comment (2026-05-07): Received non-Owner occupancy certificate reflecting borrower principal address [redacted]


Buyer Comment (2026-05-05): Please see attached with section 3A completed. Thank you.
05/07/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2167992 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide either a [redacted] month pay history or a property report verifying it is owned free and clear with taxes paid current.       Reviewer Comment (2026-05-08): [redacted] months pay history can be verified from credit report. Exception Cleared.


Buyer Comment (2026-05-06): [redacted] is reporting the mtg history [redacted] #[redacted]


Buyer Comment (2026-05-06): property profile
05/08/2026     No 1 C A C A C A C A C A   GA Investment Purchase   C A C A     A A   N/A No
xxx 2167990 xxx   XXXX     Credit Credit Credit Documentation Credit OFAC was not provided and is required.   The OFAC for the business entity was not provided.       Reviewer Comment (2026-05-08): Received clear OFAC search for Trust. Exception cleared.


Buyer Comment (2026-05-06): fraud
05/08/2026     No 1 C A C A C A C A C A   GA Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2167996 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Non-Owner Occupancy Declaration is incomplete as Section [redacted] is missing the principal residence address [redacted]       Reviewer Comment (2026-05-11): Received non owner occupancy certificate showing borrower's principal residence address [redacted]


Buyer Comment (2026-05-07): Non-Owner
05/11/2026     No 1 C A C A C A C A C A   IL Investment Purchase   C A C A     A A   N/A No
xxx 2168004 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Certificate of Non-Owner Occupied disclosure does not show the borrower's principle address [redacted]       Reviewer Comment (2026-05-05): NOO Cert.


Buyer Comment (2026-05-05): Updated Certificate of Non-Owner Occupied
05/05/2026     No 1 C A C A C A C A C A   AZ Investment Purchase   D A D A     A A   N/A No
xxx 2168004 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Estimated HUD provided. Provide final HUD.       Reviewer Comment (2026-05-14): Final closing statement received.


Buyer Comment (2026-05-12): Final HUD
05/14/2026     No 1 D A D A D A D A D A   AZ Investment Purchase   D A D A     A A   N/A No
xxx 2168007 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Certificate of Non-Owner Occupied disclosure does not show the borrower's principal address [redacted]       Reviewer Comment (2026-05-07): Received non-Owner occupancy certificate reflecting borrower principal address [redacted]


Buyer Comment (2026-05-05): Non-Owner
05/07/2026     No 1 C A C A C A C A C A   NV Investment Purchase   D A D A     A A   N/A No
xxx 2168007 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Document provided is an estimated buyer statement.       Reviewer Comment (2026-05-07): Received Final HUD/CD in file. Exception Cleared.


Buyer Comment (2026-05-05): Final SS
05/07/2026     No 1 D A D A D A D A D A   NV Investment Purchase   D A D A     A A   N/A No
xxx 2168007 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide either a [redacted] month pay history or a property report verifying it is owned free and clear with taxes paid current.       Reviewer Comment (2026-05-07): Received property profile report and tax certificate for primary residence. Exception Cleared.


Buyer Comment (2026-05-05): taxes paid current


Buyer Comment (2026-05-05): property profile
05/07/2026     No 1 C A C A C A C A C A   NV Investment Purchase   D A D A     A A   N/A No
xxx 2168002 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Report disclosed open tax lien under the borrower's name which was not paid off at closing and file is missing the required payment documentation or proof that it was paid in full and satisfied. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]
Originator,SitusAMC

SitusAMC
Reviewer Comment (2026-05-18): Waived with compensating factors per lender approved exception received in trailing documents.


Buyer Comment (2026-05-14): exception
    05/18/2026 No 2 B B B B B B B B B B   TX Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2168002 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   The Title Policy Amount of $[redacted] is less than the note amount of $[redacted] based on the Commitment in file.       Reviewer Comment (2026-05-07): Updated Title Commitment received and policy amount verified. Exception Cleared.


Buyer Comment (2026-05-05): title
05/07/2026     No 1 B A B A B A B A B A   TX Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2168011 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing fully completed signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2026-05-18): Final HUD received in trailing docs.


Buyer Comment (2026-05-14): Please see attached.  Thank you


Reviewer Comment (2026-05-11): Document provided is incomplete.  The [redacted] page is missing the settlement agent, settlement date [redacted]


Buyer Comment (2026-05-07): Please see executed HUD attached. Thank you.
05/18/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2168005 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Certificate of Non-Owner Occupied disclosure does not show the borrower's principal address [redacted]       Reviewer Comment (2026-05-14): Completed [redacted] received in trailing docs.


Buyer Comment (2026-05-12): Please see attached
05/14/2026     No 1 C A C A C A C A C A   AZ Investment Purchase   C A C A     A A   N/A No
xxx 2168015 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception approved for borrowers living rent free. Compensating factors: LTV and DSCR. Borrower has owned the subject property for at least [redacted] years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[redacted].

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Debt Service Coverage Ratio: [redacted]
Guideline Requirement: [redacted]

Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC
Reviewer Comment (2026-05-12): Waived with compensating factors per lender approved exception provided at origination.


Buyer Comment (2026-05-08): [redacted], PLEASE clear per exception provided. Thank you.
    05/12/2026 No 2 C B C B C B C B C B   FL Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2167997 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is living rent free with someone other than a spouse. This does not meet guidelines. File is missing underwriter discretion documentation.       Reviewer Comment (2026-05-12): UW discretion received in trailing documents.


Buyer Comment (2026-05-08): Underwriter Housing Discretion.
05/12/2026     No 1 C A C A C A C A C A   GA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2168010 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2026-05-12): Received final closing statement. Exception Cleared.


Buyer Comment (2026-05-08): please see attached
05/12/2026     No 1 C A C A C A C A C A   AZ Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2168006 xxx   XXXX     Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing Verification of mortgage for the subject property.       Reviewer Comment (2026-05-22): VOM


Buyer Comment (2026-05-20): PFA


Reviewer Comment (2026-05-13): The documents referenced appear to be for the primary residence.  Condition is asking for [redacted] month VOM on the subject property being paid off to [redacted].


Buyer Comment (2026-05-11): Please re-review Doc IDs [redacted] to [redacted] and also check Doc ID [redacted]. Thank you.
05/22/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2164891 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Rent-free letter was in the file, however, UW Discretion is required for borrower living rent-free with someone other than spouse.       Reviewer Comment (2026-03-04): Received UW Discretion for borrower living rent free. Exception cleared.


Buyer Comment (2026-03-02): Uw discretion
03/04/2026     No 1 C A C A C A C A D A   GA Investment Purchase   D A D A     A A   N/A No
xxx 2164891 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Cash from Borrower is greater than the amount available for closing due to the unsourced EMD. The file did not contain source of funds or deposit receipt, but amount was disclosed on the Closing Statement.       Reviewer Comment (2026-03-09): Received source of funds and deposit receipt for earnest money deposit. Exception cleared.


Buyer Comment (2026-03-05): EM receipt


Buyer Comment (2026-03-05): Gift letter


Buyer Comment (2026-03-05): Em
03/09/2026     No 1 C A C A C A C A C A   GA Investment Purchase   D A D A     A A   N/A No
xxx 2164902 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Identification not provided           Reviewer Comment (2026-03-26): Received Driver's License. Exception Cleared.


Buyer Comment (2026-03-24): ID
03/26/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2164902 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for business entity.       Reviewer Comment (2026-03-26): Received OFAC search result for the borrowing entity. Exception cleared.


Buyer Comment (2026-03-24): ofac
03/26/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2164899 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Spousal Consent Form not provided           Reviewer Comment (2026-04-30): Received revised commercial loan application, in that borrower is not married. Exception Cleared.


Buyer Comment (2026-04-28): Revised final Commercial app - not married
04/30/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2164899 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy.   Lender approved exception to allow [redacted]% LTV per new expanded guidelines.       Reviewer Comment (2026-04-16): Updated lender guidelines received and [redacted]% LTV allowed.


Buyer Comment (2026-04-14): Loan closed [redacted]; loan qualifies to use [redacted] matrix which permits the [redacted]% LTV.


Reviewer Comment (2026-03-25): Lender exception is required to provide compensating factors being used to waive the exception.
04/16/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2164899 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Borrower is short funds to close. Unable to use EMD due to missing bank source. Provide verification of the funds being paid by the borrower.       Reviewer Comment (2026-04-16): Received source documentation for EMD. Exception cleared.


Buyer Comment (2026-04-14): Em source
04/16/2026     No 1 C A C A C A C A C A   TX Investment Purchase   C A C A     A A   N/A No
xxx 2164901 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception provided approving the Condo occupancy that is below [redacted]% owner occupied and/os second homes.  [redacted] = [redacted]%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC
Reviewer Comment (2026-04-03): Waived with compensating factors per lender exception approval at origination.
    04/03/2026 No 2 B B B B B B B B B B   FL Investment Purchase   C B C B     A A   N/A No
xxx 2164901 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide evidence of the [redacted]/[redacted] payment for the primary residence.       Reviewer Comment (2026-04-15): Per lender, they do not have evidence of [redacted] [redacted] payment for primary residence.  Guidelines permit [redacted] and they are accepting this.


Reviewer Comment (2026-04-14): [redacted] with no reduction is for late payment. Requirement is for housing history. Provide lender exception for [redacted] payment. Exception remains


Buyer Comment (2026-04-10): Program permits [redacted] with no reduction; we don't have the [redacted] payment
04/15/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C B C B     A A   N/A No
xxx 2164896 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   The Title Policy Amount of $[redacted] is less than the note amount of $[redacted] based on the Commitment in file.       Reviewer Comment (2026-04-14): Received Title commitment with corrected policy amount. Exception cleared.


Buyer Comment (2026-04-10): title
04/14/2026     No 1 B A B A B A B A B A   FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2164896 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Principle address [redacted]       Reviewer Comment (2026-04-20): Received Certificate of Non-Owner Occupied with correct property address [redacted]


Buyer Comment (2026-04-16): Non-Owner
04/20/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2164896 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide evidence of the [redacted]/[redacted] & [redacted]/[redacted] payments for the primary residence.       Reviewer Comment (2026-04-14): Provided credit supplement report which verifies payments till the month of [redacted] [redacted] is paid. Exception cleared.


Buyer Comment (2026-04-10): credit supplement
04/14/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2164895 xxx   XXXX     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Hazard Insurance Coverage Amount is insufficient by $[redacted]       Reviewer Comment (2026-04-15): Received replacement cost estimator, Exception cleared.


Buyer Comment (2026-04-13): RCE
04/15/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2164897 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-04-27): Received final closing statement in the file. Exception Cleared.


Buyer Comment (2026-04-23): Please see attached.
04/27/2026     No 1 D A D A D A D A D A   FL Investment Purchase   D A D A     A A   N/A No
xxx 2164897 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Borrower is short funds to close.  Bank statement disclosed a payment for $[redacted] which corresponds with the Closing Statement in the file.  Please provide an updated closing statement showing payment received from borrower.       Reviewer Comment (2026-04-27): Received wire confirmation for payment of $[redacted] which corresponds with the Closing Statement in the file. Closing requirement met. Exception Cleared.


Buyer Comment (2026-04-23): Please see wire from Borrowers account to title company.
04/27/2026     No 1 C A C A C A C A C A   FL Investment Purchase   D A D A     A A   N/A No
xxx 2177458 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Missing final closing statement.       Reviewer Comment (2026-03-04): Received final closing statement. Exception cleared.


Buyer Comment (2026-03-02): Final SS
03/04/2026     No 1 C A C A C A C A C A   CA Investment Purchase   C A C A     A A   N/A No
xxx 2177458 xxx   XXXX     Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy effective date [redacted]           Reviewer Comment (2026-03-04): Received final closing statement with disbursement date [redacted]


Buyer Comment (2026-03-02): per attached final SS, disbursement date [redacted]; HOI is valid.
03/04/2026     No 1 C A C A C A C A C A   CA Investment Purchase   C A C A     A A   N/A No
xxx 2177502 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is living with someone other than a spouse.  This does not meet the guidelines.   File is missing underwriter discretion documentation allowing credit exception.       Reviewer Comment (2026-03-30): Received UW discretion for borrower living rent free. Exception cleared.


Buyer Comment (2026-03-26): Please find attached the [redacted]


Reviewer Comment (2026-03-20): Provided Letter of explanation was already available on file at initial review. Provide evidence of UW discretion for borrower living rent free with other than a spouse. Exception remains.


Buyer Comment (2026-03-18): Please find attached the LOX.
03/30/2026     No 1 C A C A C A C A C A   MO Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177502 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   OFAC is required for all parties involved in the transaction -business entity is missing.       Reviewer Comment (2026-03-25): Received OFAC search result for the borrowing business entity. Exception cleared.


Buyer Comment (2026-03-23): Please find attached the updated OFAC.


Reviewer Comment (2026-03-20): OFAC for business entity is provided however date [redacted]


Buyer Comment (2026-03-18): Please find attached the OFAC.
03/25/2026     No 1 C A C A C A C A C A   MO Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177502 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - All liens must be paid in full at or prior to closing.       Reviewer Comment (2026-03-30): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-03-26): Please find attached the exception approval.


Reviewer Comment (2026-03-20): As per lien document ([redacted]) there are [redacted) liens mentioned with the same amount $[redacted] and same filling date [redacted]


Buyer Comment (2026-03-18): Please advise where you are seeing the tax lien, as the title shows no tax liens and there are no related public records on the credit report.
    03/30/2026 No 2 B B B B B B B B B B   MO Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177474 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Provide documentation from [redacted] to verify al liens listed on the Fraud Report have been paid and released.       Buyer Comment (2026-03-17): Documentation in file from creditor stating all judgements were paid in full.


Reviewer Comment (2026-03-16): Please provide evidence of the lien releases.


Reviewer Comment (2026-03-12): Letter from creditor located stating that all liens have been and satisfied. Provide release/satisfaction date [redacted]


Buyer Comment (2026-03-10): [redacted] and [redacted] are letters from the creditor stating that all liens have been paid and satisfied.
    03/17/2026 No 2 B B B B B B B B B B   NY Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
xxx 2177468 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Unable to verify [redacted] months' housing history for the subject property.  Please provide a Verification of Mortgage from [redacted], or payment history.       Reviewer Comment (2026-03-24): Received verification of mortgage from the lender confirming origination date [redacted]


Buyer Comment (2026-03-20): Please find attached the VOM.
03/24/2026     No 1 C A C A C A C A D A   PA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177468 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Rent-free letter was in the file, however, an LLPA and UW Discretion is required for borrower living rent-free for [redacted] months with someone other than spouse.       Reviewer Comment (2026-03-30): Received UW discretion for borrower living rent free for previous address [redacted]


Buyer Comment (2026-03-26): Please find attached the [redacted] and approval exception.


Reviewer Comment (2026-03-24): Received rent free letter which was a part of initial package. Require an LLPA and UW Discretion for borrower living rent-free for [redacted] months with someone other than spouse. Exception remains.


Buyer Comment (2026-03-20): Please find attached the rent free LOE.
03/30/2026     No 1 C A C A C A C A C A   PA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177504 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   No address [redacted]       Reviewer Comment (2026-03-27): Received non-Owner occupancy certificate with borrower principal address [redacted]


Buyer Comment (2026-03-25): Non-Owner
03/27/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177504 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Unable to verify that borrowers [redacted] and [redacted] will not occupy subject property as the primary residence as there were no acknowledgments to the questions on page [redacted] of the Credit Application.  Please provide an updated document.       Reviewer Comment (2026-04-02): Provided credit application for both borrower with questions completed on page [redacted]. Exception cleared.


Buyer Comment (2026-03-31): Please see attached Commercial Application
04/02/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177504 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Unable to verify [redacted] full months' primary housing history for borrower [redacted].  If renting from a management company, please provide either a fully executed verification of rent or most recent lease agreement, along with a payment history ledger from management company, canceled checks (front and back), or bank statements showing account ownership and payments debited by the management company.  If renting from a private landlord, please provide lease agreement for the address [redacted], along with verification of timely payments made (either by canceled checks (front and back), or bank statements showing ownership and payments debited by the landlord.       Reviewer Comment (2026-03-31): Credit supplement and credit refresh


Buyer Comment (2026-03-27): [redacted]  was purchased in [redacted] and first payment letter [redacted]  reports first payment was not due until [redacted]. [redacted] reports [redacted] payment; [redacted] reports dla [redacted] with [redacted] months reviewed.


Reviewer Comment (2026-03-27): Mortgage payment history is required for the months of [redacted] and [redacted] [redacted] for the borrower's current primary residence located at [redacted] . The borrower previously resided at [redacted], for which verification of rent has been received covering the period [redacted] through [redacted]. Verification of rent for [redacted] and [redacted] [redacted] is still required. Exception Remains.


Buyer Comment (2026-03-25): previous mtg [redacted] reported on credit with redacted]


Buyer Comment (2026-03-25): previous property profile report


Buyer Comment (2026-03-25): VOR


Buyer Comment (2026-03-25): [redacted]
03/31/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177487 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   HUD/CS provided is an estimate. Provide a final HUD/CD signed by all parties or stamped true and certified.       Reviewer Comment (2026-04-14): Received final closing statement stamped true and certified with escrow agent signature. Exception cleared.


Buyer Comment (2026-04-10): PFA with signed


Reviewer Comment (2026-04-09): Provided final closing statement is missing the escrow officer's signature under the stamp. Exception remains.


Buyer Comment (2026-04-07): It's true and certified copy, please Re-review.


Reviewer Comment (2026-04-06): Received final closing statement; but it is not signed by the settlement agent under the stamp. Exception Remains.


Buyer Comment (2026-04-02): PFA
04/14/2026     No 1 D A D A D A D A D A   GA Investment Refinance - Rate/Term   D A D A     A A   N/A No
xxx 2177482 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-04-03): Provided Non-Owner Occupancy Declaration with primary residence address [redacted]


Buyer Comment (2026-04-02): PFA
04/03/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177482 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide evidence of UW discretion for borrower living rent free with other than a spouse.       Reviewer Comment (2026-04-08): Provided [redacted] form with underwriter discretion for occupancy. Exception cleared.


Buyer Comment (2026-04-04): [redacted]/Transmittal with UW Discretion for borrower living rent free.
04/08/2026     No 1 C A C A C A C A C A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177482 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Estimated HUD provided.       Reviewer Comment (2026-04-03): Provided final closing statement. Exception cleared.


Buyer Comment (2026-04-01): Please see attached HUD
04/03/2026     No 1 D A D A D A D A D A   CA Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177475 xxx   XXXX     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: [redacted]           Reviewer Comment (2026-06-17): Received CDA. Exception Cleared.


Buyer Comment (2026-06-15): CDA
06/17/2026     No 1 D A D A D A D A D A   PA Investment Refinance - Cash-out - Other   D A C A     D A   N/A No
xxx 2177475 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Missing appraisal transfer letter or paid appraisal invoice.       Reviewer Comment (2026-06-23): Invoice.
06/23/2026     No 1 C A C A C A C A C A   PA Investment Refinance - Cash-out - Other   D A C A     D A   N/A No
xxx 2177475 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: Appraisal Invoice not provided           Reviewer Comment (2026-06-23): Invoice.


Buyer Comment (2026-06-20): Appraisal Invoice
06/23/2026     No 1 C A C A C A C A C A   PA Investment Refinance - Cash-out - Other   D A C A     D A   N/A No
xxx 2177476 xxx   XXXX     Credit Insurance Insurance Analysis Insurance Insurance address [redacted]   Insurance address [redacted] The qualifying DSCR on the loan is greater than the guideline minimum. The DSCR of [redacted] is greater than the minimum required DSCR of  [redacted]. SitusAMC,Originator Reviewer Comment (2026-06-23): Waived at client request.


Reviewer Comment (2026-06-23): Waived in error.


Reviewer Comment (2026-06-23): Waived with compensating factors per lender exception approval.


Reviewer Comment (2026-06-17): Updated policy has an effective date [redacted]


Reviewer Comment (2026-06-12): Updated policy has an effective date [redacted]


Buyer Comment (2026-06-10): Please see attached hoi policy reflecting corrected address [redacted]
    06/23/2026 No 2 C B C B C B C B C B   TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177476 xxx   XXXX     Credit System General System Flood Certificate Subject Address [redacted]   Most recent Flood Certificate, subject Address [redacted]       Reviewer Comment (2026-06-03): Corrected flood cert.


Buyer Comment (2026-06-01): Please find corrected flood cert attached. Thank you.
06/03/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177476 xxx   XXXX     Credit System General Appraisal Reconciliation Valuation address [redacted] - Valuation address [redacted]       Reviewer Comment (2026-06-17): Received Appraisal Report with correct address [redacted]


Buyer Comment (2026-06-15): Please see attached. Thank you.
06/17/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177476 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   Missing Articles of Organization for the borrowing entity.       Reviewer Comment (2026-05-06): Articles of Organization/Formation received and verified the details. Exception Cleared.


Buyer Comment (2026-05-05): Please see attached. Thank you.
05/06/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177476 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   The provided rent-free letter does not confirm the duration of the borrower's rent-free occupancy and UW discretion for living rent free is missing.       Reviewer Comment (2026-05-06): Updated [redacted] received with underwriter discretion for Borrower is living rent free along with rent free letter. Exception Cleared.


Buyer Comment (2026-05-04): UW comments on [redacted] attached.


Buyer Comment (2026-05-04): Please see rent free loe attached. Thank you.
05/06/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177476 xxx   XXXX     Credit System General Appraisal Reconciliation Valuation address [redacted] -         Reviewer Comment (2026-06-12): Corrected CDA


Buyer Comment (2026-06-10): Please see attached CDA address [redacted]
06/12/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177462 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided     The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-06-17): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-15): exception


Reviewer Comment (2026-06-04): Articles of Org does not confirm ownership.


Buyer Comment (2026-06-02): sole member


Buyer Comment (2026-06-02): AOO
    06/17/2026 No 2 C B C B C B C B C B   WI Investment Purchase   C B C B     A A   N/A No
xxx 2177462 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower. Documented qualifying Assets for Closing of  ___ is less than Cash From Borrower ___. Due to missing the evidence of access to the business assets. The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-06-17): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-15): see attached exception


Reviewer Comment (2026-06-04): Articles of Org does not confirm ownership.


Buyer Comment (2026-06-02): see attached
    06/17/2026 No 2 C B C B C B C B C B   WI Investment Purchase   C B C B     A A   N/A No
xxx 2177477 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-06): Received Certificate of Non-Owner Occupancy showing borrower at a different address [redacted]


Buyer Comment (2026-05-04): non-owner
05/06/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177477 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Provide a final HUD/CD not signed by all parties or stamped true and certified by title agent.       Reviewer Comment (2026-05-12): Received final stamped true and certified copy of closing statement in the file. Exception Cleared.


Buyer Comment (2026-05-08): Final SS
05/12/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177507 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Executed copy of final closing statement was not found in file.       Reviewer Comment (2026-05-07): Received final stamped true and certified copy of closing statement in the file. Exception Cleared.


Buyer Comment (2026-05-05): final SS
05/07/2026     No 1 C A C A C A C A C A   AZ Investment Purchase   C A C A     A A   N/A No
xxx 2177498 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Trust Agreement not provided   Trust agreement is not provided       Reviewer Comment (2026-05-05): Certification of Trust received in trailing documents.


Reviewer Comment (2026-05-05): Provided document is Certification of trust, require complete trust agreement in the file. Exception remains.


Buyer Comment (2026-05-01): See attached
05/05/2026     No 1 C A C A C A C A C A   CA Investment Purchase   C A C A     A A   N/A No
xxx 2177481 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Missing letter of access to funds.       Reviewer Comment (2026-05-12): Received Access Letter in the file. Closing requirement met. Exception Cleared.


Buyer Comment (2026-05-08): Access letter from the other [redacted]% owner.
05/12/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2177481 xxx   XXXX     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.     The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-06-19): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-17): Exception
    06/19/2026 No 2 C B C B C B C B C B   FL Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2177480 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-05-14): Final title policy received
05/14/2026     No 1 A A A A A A A A A A   UT Investment Purchase   D A D A     A A   N/A No
xxx 2177480 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-05-07): Received final stamped true and certified copy of closing statement in the file. Exception Cleared.


Buyer Comment (2026-05-05): Final SS
05/07/2026     No 1 D A D A D A D A D A   UT Investment Purchase   D A D A     A A   N/A No
xxx 2177480 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   Unable to verify ownership percentage of the business funds used for asset qualification.  Please provide an operating agreement disclosing ownership percentage of [redacted].       Reviewer Comment (2026-05-07): Received Business entity listing and Article of Organization in the fie. Exception Cleared.


Buyer Comment (2026-05-05): entity


Buyer Comment (2026-05-05): Certificate of Organziation
05/07/2026     No 1 C A C A C A C A C A   UT Investment Purchase   D A D A     A A   N/A No
xxx 2177480 xxx   XXXX     Credit Loan Package Documentation Closing / Title Loan Package Documentation Title search shows negative impact on title.   Title disclosed a judgment in the amount of $[redacted] without evidence of settlement or release.       Reviewer Comment (2026-05-14): Final title policy received reflecting no additional liens/judgments.


Buyer Comment (2026-05-12): Final title


Reviewer Comment (2026-05-07): Please provide updated title commitment report in the file with the removal of the section [redacted]. Exception Remains.


Buyer Comment (2026-05-05): email from title- judgement did not belong to the Borrower
05/14/2026     No 1 C A C A C A C A C A   UT Investment Purchase   D A D A     A A   N/A No
xxx 2177461 xxx   XXXX     Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower.   Borrower is short required cash to close subject transaction.  Appraisal invoice in file does not reflect it was paid by our borrower.  Further, even including the paid appraisal, borrower is short required cash to close.       Reviewer Comment (2026-06-12): Updated assets.


Buyer Comment (2026-06-11): BofA Statement
06/12/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2177461 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for all parties involved in transaction.  Please provide clear OFAC for appraisal company, appraiser and borrowing business entity.       Reviewer Comment (2026-06-12): Fraud Report.


Buyer Comment (2026-06-11): Updated Fraud Report
06/12/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2177490 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Signed copy of Certificate of Non-Owner Occupied disclosure does not show the borrower's principal address [redacted]       Reviewer Comment (2026-05-08): Received Non-Owner Occupancy Declaration with section [redacted] completed. Exception Cleared.


Buyer Comment (2026-05-06): PFA
05/08/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177503 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-11): Non-Owner Occupancy Declaration document provided. Exception cleared.


Buyer Comment (2026-05-07): PFA
05/11/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177503 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Provide verification of [redacted] months rent receipt. Have copy of [redacted] check dated [redacted] for $[redacted] Same amount verified on bank statement as a deposit on [redacted]..       Reviewer Comment (2026-05-11): Received rent receipts. Exception cleared.


Buyer Comment (2026-05-07): PFA
05/11/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177503 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Bylaws not provided   Bylaws are required to be signed.       Reviewer Comment (2026-05-13): Signed bylaws received in trailing documents.


Buyer Comment (2026-05-11): PFA
05/13/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177503 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.   Provide a [redacted] month of rent verification. Only [redacted] month was able to be verified.       Reviewer Comment (2026-05-13): Proof of 2nd month rent received for subject property received in trailing documents.


Buyer Comment (2026-05-11): PFA
05/13/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177457 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement. Closing agent signature missing.       Reviewer Comment (2026-05-11): Signed and dated Closing statement provided. Exception cleared.


Buyer Comment (2026-05-07): HUD-1 attached. Thank you.
05/11/2026     No 1 C A C A C A C A C A   WA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177457 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]           Reviewer Comment (2026-05-11): Provided Certificate of Non- Owner Occuped document reflects the primary residence address [redacted]


Buyer Comment (2026-05-07): Please see section [redacted] completed. Thank you.
05/11/2026     No 1 C A C A C A C A C A   WA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177491 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided           Reviewer Comment (2026-05-12): Articles of Organization/Formation received and verified the details. Exception Cleared.


Buyer Comment (2026-05-08): Uploaded LLC entity documents


Buyer Comment (2026-05-08): Articles Uploaded
05/12/2026     No 1 C A C A C A C A C A   TX Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2177491 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide verification that only interest payments were required for the subject property loan or provide a full pay history. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC
Reviewer Comment (2026-06-17): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-16): Exception


Reviewer Comment (2026-05-12): The document provided only reflects that the amounts were invoiced for the loan.  It does not reflect the actual payments.  File only contains one invoice reflecting the [redacted]/[redacted] payment was made.  Please provide evidence of [redacted] months timely payments for the subject property were made.


Buyer Comment (2026-05-08): This invoice reflects this was a loan interest mortgage @[redacted] which correlates with the statement history of loan interest payments.


Buyer Comment (2026-05-08): Uploaded LLC entity documents


Buyer Comment (2026-05-08): Articles Uploaded
    06/17/2026 No 2 C B C B C B C B C B   TX Investment Refinance - Rate/Term   C B C B     A A   N/A No
xxx 2177469 xxx   XXXX     Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Provide OFAC for the borrowing Trust.       Reviewer Comment (2026-05-11): OFAC provided for the trust. Exception cleared.


Buyer Comment (2026-05-07): PFA
05/11/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2177509 xxx   XXXX     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: [redacted]           Reviewer Comment (2026-05-12): UCDP submission report with CU score [redacted] located in the file. Exception cleared.


Buyer Comment (2026-05-08): Please re-review D [redacted] CU Score is [redacted] , why we require CDA on this.
05/12/2026     No 1 D A D A D A D A D A   NV Investment Refinance - Rate/Term   D B B B     D A   N/A No
xxx 2177509 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception for primary rent late payments within last [redacted] months. File contains evidence of [redacted] months rent payments and [redacted] are required. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [redacted]%.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Loan to Value: [redacted]%
Guideline Maximum Loan to Value: [redacted]%

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC

SitusAMC

SitusAMC
Reviewer Comment (2026-05-06): Waived with compensating factors per lender exception approval at origination.
    05/06/2026 No 2 B B B B B B B B B B   NV Investment Refinance - Rate/Term   D B B B     D A   N/A No
xxx 2177496 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Certificate of Non-Owner Occupied does not include a property address [redacted]       Reviewer Comment (2026-05-20): NOO Cert.


Buyer Comment (2026-05-18): Please see attached Cert
05/20/2026     No 1 C A C A C A C A C A   OH Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177500 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The ID documentation (license, passport, Visa) does not show the borrower(s) at an address [redacted]   Loan approved as an investment property, however, the address [redacted]       Reviewer Comment (2026-06-03): Credit pulled using current address [redacted]


Buyer Comment (2026-06-01): See LOE
06/03/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177500 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The asset/income documentation does not show the borrower(s) at an address [redacted]   The address [redacted]       Reviewer Comment (2026-06-03): Credit pulled using current address [redacted]
06/03/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177501 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Borrower is currently living rent free with someone other than a spouse. This does not meet guidelines. File is missing rate lock with LLPA and underwriter discretion documentation. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[redacted].
Reserves: [redacted]
Guideline Requirement: [redacted]

Debt Service Coverage Ratio: [redacted]
Guideline Requirement: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-06-02): Waived with compensating factors per lender approved exception received in trailing documents.


Buyer Comment (2026-05-29): Exception approved and uploaded to TPR for living rent free with non-spouse on investment property and missing LLPA on rate lock. [redacted] Transmittal with UW Discretion for Rent Free uploaded to TPR.
    06/02/2026 No 2 C B C B C B C B C B   NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
xxx 2177495 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement. The closing agent's signature is missing.       Reviewer Comment (2026-06-05): Final SS.


Buyer Comment (2026-06-03): Final Settlement Statement and Response from Closing Agent
06/05/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2177495 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Trust Agreement (Asset) not provided     The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-06-26): Document received in trailing documents.


Reviewer Comment (2026-06-19): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-17): Exception
06/26/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2177495 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: Trust Agreement (Asset) not provided     The representative FICO score exceeds the guideline minimum by at least [redacted] points. Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
SitusAMC Reviewer Comment (2026-06-26): Document received in trailing documents.


Reviewer Comment (2026-06-19): Waived with compensating factors per lender exception approval.
06/26/2026     No 1 C A C A C A C A C A   FL Investment Purchase   C A C A     A A   N/A No
xxx 2177492 xxx   XXXX     Credit System General System Flood Certificate Subject Address [redacted]   Flood reflects the address [redacted]       Reviewer Comment (2026-05-15): Corrected Flood Cert.


Buyer Comment (2026-05-13): flood
05/15/2026     No 1 C A C A C A C A C A   AL Investment Refinance - Rate/Term   C A C A     A A   N/A No
xxx 2177506 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   Provide proof of [redacted] mortgage payment for primary residence       Reviewer Comment (2026-06-10): Mortgage statement.


Buyer Comment (2026-06-09): [redacted] Payment primary
06/10/2026     No 1 C A C A C A C A C A   ID Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177470 xxx   XXXX     Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Missing Final HUD/Closing Disclosure in the loan file. Copy provided is an estimate.       Reviewer Comment (2026-05-14): Final closing statement received


Buyer Comment (2026-05-12): See property profile confirming free & clear & tax bill.


Buyer Comment (2026-05-12): Please see final HUD & tax bill attached. Thank you.
05/14/2026     No 1 C A C A C A C A C A   AL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177470 xxx   XXXX     Credit Guideline Guideline Issue Guideline Verification of housing pay history is required.   For the primary residence, provide either a [redacted] month pay history or a property report verifying it is owned free and clear with taxes paid current.       Reviewer Comment (2026-06-12): Divorce Decree and Property Report.


Buyer Comment (2026-06-10): Please see page #[redacted] item #[redacted] of the Borrowers divorce decree confirming [redacted] has sole ownership.


Reviewer Comment (2026-06-09): No valid comp factors. LTV, DSCR & FICO are at maximum and all assets are from Net Proceeds. Unable to confirm actual experience for the borrower.


Buyer Comment (2026-06-05): Please see exception attached. Thank you.


Reviewer Comment (2026-05-29): Per property profile, primary property is free & clear, and it confirms, borrower does not have ownership in the primary residence. Require letter confirming, borrower is living rent-free with spouse. Exception remains.


Buyer Comment (2026-05-27): PLEASE NOTE: Property profile sent back on [redacted] for primary residence. Thank you.


Buyer Comment (2026-05-27): Please see property profile for primary confirming free & clear & taxes current. Thank you.
06/12/2026     No 1 C A C A C A C A C A   AL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
xxx 2177488 xxx   XXXX     Property Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal was made "subject to" and Form [redacted]4D/[redacted] was not provided. - [redacted] is not in images.       Reviewer Comment (2026-06-02): [redacted] received.


Buyer Comment (2026-05-29): [redacted]4D
06/02/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     C A   N/A No
xxx 2177488 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Corporate Resolution was not found in file.       Reviewer Comment (2026-05-20): Borrower Cert.


Buyer Comment (2026-05-18): Corp resolution
05/20/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     C A   N/A No
xxx 2177488 xxx   XXXX     Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Operating Agreement is not signed.       Reviewer Comment (2026-05-20): Borrower Cert.
05/20/2026     No 1 C A C A C A C A C A   NY Investment Purchase   C A C A     C A   N/A No
xxx 2177489 xxx   XXXX     Credit Title General Title Title Policy Coverage is less than Original Loan Amount.   The preliminary title report in file disclosed $[redacted] of title insurance coverage; however, this is less than the loan amount of $[redacted] 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 (2026-05-21): Updated title commitment received.


Buyer Comment (2026-05-19): title
05/21/2026     No 1 B A B A B A B A B A   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177489 xxx   XXXX     Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Unable to verify [redacted] full months' housing history for the subject property.  Please provide a Verification of Mortgage from [redacted], or verification of timely payments made (either by canceled checks (front and back), or bank statements showing payments debited. The most recent [redacted] months payment history found in the file.       Reviewer Comment (2026-05-29): No new document received. Per received verification of mortgage and property history report, loan was originated in the month of [redacted] [redacted] with first payment date [redacted]


Buyer Comment (2026-05-27): per property profile [redacted], the mtg was opened [redacted] and first payment was due [redacted].


Reviewer Comment (2026-05-21): VOM received only covers [redacted] months.


Buyer Comment (2026-05-19): VOM
05/29/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177489 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file was not signed by all parties.       Reviewer Comment (2026-05-21): Final closing statement received


Buyer Comment (2026-05-19): Final SS
05/21/2026     No 1 D A D A D A D A D A   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177489 xxx   XXXX     Credit Borrower and Mortgage Eligibility Borrower Eligibility Borrower and Mortgage Eligibility OFAC was not cleared and required per guidelines   The OFAC report for the business entity was not provided.       Reviewer Comment (2026-05-21): OFAC received


Buyer Comment (2026-05-19): ofac
05/21/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177489 xxx   XXXX     Credit Property - Appraisal General Appraisal Requirements Property - Appraisal Subject is a refinance and property is listed for sale. - The property was listed at time of application. provide a letter of explanation disclosing the reason the property was listed, and evidence that it was taken off the market prior to the Note date [redacted] Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-06-22): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-18): exception


Reviewer Comment (2026-05-21): LOE received.  Pending evidence property was taken off market prior to the Note date [redacted]


Buyer Comment (2026-05-20): loe
    06/22/2026 No 2 C B C B C B C B C B   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177489 xxx   XXXX     Credit Business Purpose General Business Purpose The Non-Owner Occupied Certification was not signed by all required borrowers and thus casts doubt on the business purpose of the loan.   The Non-Owner Occupancy Declaration is incomplete as Section [redacted] is missing the principal residence address [redacted]       Reviewer Comment (2026-05-29): Received e-sign consent dated [redacted] and Non-Owner Occupancy Declaration form with primary residence address [redacted]


Buyer Comment (2026-05-27): e-sign


Reviewer Comment (2026-05-21): Document is e-signed.  Please provide e-sign trail for updated document.


Buyer Comment (2026-05-19): Non-Owner
05/29/2026     No 1 C A C A C A C A C A   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177489 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___. Calculated loan to value percentage of [redacted]% exceeds Guideline loan to value percentage of [redacted]%. Used lower list value of $[redacted] due to recent listing. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-05-21): Waived with compensating factors per lender approved exception received in trailing documents.


Buyer Comment (2026-05-20): exception
    05/21/2026 No 2 C B C B C B C B C B   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177489 xxx   XXXX     Credit Guideline Guideline Issue Guideline Ineligible borrower per guidelines.   Borrower does not meet the guideline requirement for housing history.  Borrower is residing with someone other than a non-borrowing spouse and loan does not contain documented [redacted] month pay history on other real estate owned, as the VOM provided only covers [redacted] months. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [redacted] months.

The representative FICO score exceeds the guideline minimum by at least [redacted] points.
Reserves: [redacted]
Guideline Requirement: [redacted]

Guidelines Representative FICO: [redacted]
Representative FICO: [redacted]
Originator,SitusAMC

Originator,SitusAMC
Reviewer Comment (2026-06-22): Waived with compensating factors per lender exception approval.


Buyer Comment (2026-06-18): see attached exception
    06/22/2026 No 2   B   B   B   B   B   FL Investment Refinance - Rate/Term   D B D B     A A   N/A No
xxx 2177505 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Please provide the final Closing Statement fully executed by all parties or stamped true and certified.  The copy in the file is an estimate.       Reviewer Comment (2026-06-04): Final SS.


Buyer Comment (2026-06-02): Final HUD Stamped
06/04/2026     No 1 D A D A D A D A D A   CA Investment Purchase   D A D A     A A   N/A No
xxx 2177483 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-06-12): Final title.
06/12/2026     No 1 A A A A A A A A A A   MT Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177483 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Certificate of Non-Owner Occupied disclosure does not show the borrower's principal address [redacted]       Reviewer Comment (2026-05-22): NOO Cert.


Buyer Comment (2026-05-20): Non-Owner
05/22/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177483 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Loan is included in a blanket mortgage. Provide verification the lien against the subject property is paid in full and/or verify the property is fully released from the blanket lien.       Reviewer Comment (2026-06-12): Final title.


Buyer Comment (2026-06-10): Final Title
06/12/2026     No 1 C A C A C A C A C A   MT Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177483 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Provide a fully executed final HUD/CS. Not signed by borrower.       Reviewer Comment (2026-05-22): Final HUD


Buyer Comment (2026-05-20): Final SS
05/22/2026     No 1 D A D A D A D A D A   MT Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
xxx 2177494 xxx   XXXX     Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy.           Reviewer Comment (2026-05-22): Final title.
05/22/2026     No 1 A A A A A A A A A A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2177494 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   The Non-Owner Occupancy Declaration is incomplete as Section [redacted] is missing the principal residence address [redacted]       Reviewer Comment (2026-05-19): Received fully completed certificate of NOO


Buyer Comment (2026-05-15): Non-Owner
05/19/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2177494 xxx   XXXX     Credit Loan Package Documentation Closing / Title Loan Package Documentation Title search shows negative impact on title.   Unable to determine the status of the bankruptcy judgment against the subject property.       Reviewer Comment (2026-05-22): Final title.


Buyer Comment (2026-05-20): Final Title
05/22/2026     No 1 C A C A C A C A C A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2177494 xxx   XXXX     Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Loan file contains lease for primary residence from private individual which began [redacted].  Please provide evidence of cancelled checks from [redacted]/[redacted] through [redacted]/[redacted].  Further, please provide evidence of complete [redacted] month housing history ([redacted]/[redacted] through [redacted]/[redacted] missing).       Reviewer Comment (2026-05-28): Lease and rent free LOX


Buyer Comment (2026-05-26): Borrower resides rent free.  Lease provided is in spouse name only
05/28/2026     No 1   A   A   A   A   A   NJ Investment Purchase   C A C A     A A   N/A No
xxx 2177472 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing Document  Missing Document: Security Instrument - Subject Lien not provided   Security Instrument missing in the file.       Reviewer Comment (2026-06-01): Security Instrument received and verified the details. Exception Cleared.


Buyer Comment (2026-05-28): Please see attached RECORDED- Mortgage
06/01/2026     No 1 D A D A D A D A D A   FL Investment Purchase   D A D A     A A   N/A No
xxx 2177465 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address [redacted]   Missing signature page.       Reviewer Comment (2026-05-27): Provided Non-Owner Occupancy Declaration with primary residence address [redacted]


Buyer Comment (2026-05-22): Please see for attached with section [redacted] completed & document executed. Thank you.
05/27/2026     No 1 C A C A C A C A C A   DE Investment Purchase   C A C A     A A   N/A No
xxx 2155426 xxx   XXXX     Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: [redacted]   Secondary Valuation Missing in this loan file       Reviewer Comment (2026-04-20): CDA received and verified. Exception cleared.


Buyer Comment (2026-04-16): CDA
04/20/2026     No 1 D A D A D A D A D A   TN Investment Refinance - Cash-out - Other   D A C A     D A   N/A No
xxx 2155426 xxx   XXXX     Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy.           Reviewer Comment (2026-04-15): Received deposit receipt. Lender used gross monthly rental income. Exception Cleared.


Buyer Comment (2026-04-13): $[redacted] rent was used to qualify; see attached lease and [redacted] months rent receipt.
04/15/2026     No 1 C A C A C A C A C A   TN Investment Refinance - Cash-out - Other   D A C A     D A   N/A No
xxx 2165688 xxx   XXXX     Credit Credit Credit Eligibility Guideline Public Record Issue: - Public record reflects Tax lien amount $[redacted] is totaling more than $[redacted] must be paid in full       Reviewer Comment (2026-05-08): Waived per lender approved exception


Buyer Comment (2026-05-06): Please see exception attached.


Reviewer Comment (2026-05-04): Received IRS account statement with transaction of $[redacted] which is not matching with lien amount of $[redacted] nor filing number is available to verify if the payment is made towards lien filing number of [redacted]. Provide evidence with filing number or with the same amount made towards tax lien. Exception remains.


Buyer Comment (2026-04-30): Please see documents attached confirming IRS debt paid. Thank you.


Reviewer Comment (2026-04-16): Received official check does not confirm if payment was made towards Federal tax lien with filing number of [redacted]. Exception remains.


Buyer Comment (2026-04-14): Please see cashier's check attached. Thank you.


Reviewer Comment (2026-04-03): Evidence of paid and/or satisfaction and release for Tax lien is not received. Exception remains.


Buyer Comment (2026-04-01): Please see attached. Thank you.
    05/08/2026 No 2 B B B B B B B B B B   IL Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2165688 xxx   XXXX     Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Provide a full [redacted] month pay history for the primary residence. Credit report reflects the loan was opened [redacted]/[redacted].       Reviewer Comment (2026-04-03): Received Warranty Deed and Property history report for primary residence and the property is owned free and clear. There is no current mortgage transaction as per Fraud Report. Exception cleared.


Buyer Comment (2026-04-01): Please see attached email & snippet of fraud report as Borrower just deeded in [redacted]/[redacted] free & clear. Thank you.
04/03/2026     No 1 C A C A C A C A D A   IL Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2165688 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   Mortgagee listed on HOI reflects [redacted] and is required to reflect [redacted]. Add the (S) to the end of [redacted] .       Reviewer Comment (2026-04-27): Updated Hazard Insurance policy received with corrected mortgagee clause. Exception Cleared.


Buyer Comment (2026-04-23): Please see attached updated hoi policy with corrected mtgee clause.
04/27/2026     No 1 C A C A C A C A C A   IL Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
xxx 2165687 xxx   XXXX     Credit Loan Package Documentation Closing / Title Missing Document  Missing Document: Security Instrument - Subject Lien not provided   The Security Instrument is incomplete as the notary acknowledgment page (page [redacted]) is missing.       Reviewer Comment (2026-04-17): Received security instrument with Notary acknowledgment page. Exception cleared.


Buyer Comment (2026-04-15): Recorded mtg


Reviewer Comment (2026-04-13): Document appears to have been filed and indicates this is page [redacted] of [redacted].  Please provide all pages of the recorded security instrument for review.


Buyer Comment (2026-04-09): pg [redacted]
04/17/2026     No 1 D A D A D A D A D A   FL Investment Purchase   D A D A     A A   N/A No
xxx 2165687 xxx   XXXX     Credit Credit Miscellaneous Guideline Credit Exception:   The Borrowing Certification was not signed by all parties of the business entity.       Reviewer Comment (2026-05-19): Received fully executed borrowing certificate.


Buyer Comment (2026-05-15): Borrowing cert
05/19/2026     No 1 C A C A C A C A C A   FL Investment Purchase   D A D A     A A   N/A No
xxx 2165685 xxx   XXXX     Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.   Dwelling Coverage is insufficient by $[redacted] Please provide extended coverage or replacement cost estimator.       Reviewer Comment (2026-05-19): Updated HOI with increased coverage/premium received in trailing documents.


Buyer Comment (2026-05-15): Please see attached increased policy attached. Thank you.
05/19/2026     No 1 C A C A C A C A C A   AL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No