Exhibit 99.04 - Schedule 4
| Loan ID | Redaction ID | Investor Loan ID | Overall Initial Loan Grade | Overall Final Loan Grade | Credit Initial Loan Grade | Credit Current/Final Loan Grade | Compliance Initial Loan Grade | Compliance Current/Final Loan Grade | Property Initial Loan Grade | Property Current/Final Loan Grade | Queue | Finding Code | Date Created | Date Modified | Finding Status | Event Level | Initial Finding Grade | Current/Final Finding Grade | Finding Category | Finding Sub Category | Finding Name | Finding Comments | Seller Comments | Resolution Comments | Reviewer Comp Factor | Originator Comp Factors | Finding Documents | Originator QM Status | Final Reviewed QM Status | Loan Amount | Property State | Occupancy | Loan Purpose | Refinance Purpose | Acknowledged / WaivedBy | Waiver in File? | Unique Finding ID |
| XXXX | 2141290 | XXXX | A | A | A | A | A | A | A | A | A | A | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Refinance | Cash Out - Other | |||||||||||||||||
| XXXX | 2171410 | XXXX | D | B | D | B | A | A | C | A | Closed | FVAL1563 | 2026-03-31 08:50 | 2026-04-14 15:25 | Resolved | 1 - Information | C | A | Property | Appraisal | Unsupported adjustments or comps | Resolved-Received revised appraisal confirming adjustments are typical for neighborhood. - Due Diligence Vendor-04/14/2026 Ready for Review-The last sentence in that paragraph states: ALL SALES ARE THE MOST RECENT AND THE MOST COMPARABLE AT THE TIME OF THE INSPECTION. MOST WEIGHT WAS GIVEN TOWARDS COMPARABLES ONE AND TWO WITH A MORE SIMILAR LIVING AREA. GROSS AND NET ADJUSTMENTS EXCEED GUIDELINES AND TYPICAL HOMES IN THIS NEIGHBORHOOD - Seller-04/13/2026 Counter-Received revised appraisal reflecting explanation of adjustments. Appraiser to confirm gross adjustments are within normal ranges and are common for the area. - Due Diligence Vendor-04/08/2026 Ready for Review-Document Uploaded. concerns addressed by appraiser - Seller-04/07/2026 Counter-Appraiser has marked subject as C3 as well as the comps yet made large adjustments to this, appraiser added no commentary. Adjustments appear to be excessive - Due Diligence Vendor-04/06/2026 Ready for Review-Document Uploaded. - Seller-04/03/2026 Open-Comp 2 and Comp 3 gross adjustments exceed 25% - Due Diligence Vendor-03/31/2026 |
Ready for Review-The last sentence in that paragraph states: ALL SALES ARE THE MOST RECENT AND THE MOST COMPARABLE AT THE TIME OF THE INSPECTION. MOST WEIGHT WAS GIVEN TOWARDS COMPARABLES ONE AND TWO WITH A MORE SIMILAR LIVING AREA. GROSS AND NET ADJUSTMENTS EXCEED GUIDELINES AND TYPICAL HOMES IN THIS NEIGHBORHOOD - Seller-04/13/2026 Ready for Review-Document Uploaded. concerns addressed by appraiser - Seller-04/07/2026 Ready for Review-Document Uploaded. - Seller-04/03/2026 |
Resolved-Received revised appraisal confirming adjustments are typical for neighborhood. - Due Diligence Vendor-04/14/2026 |
Qualifying FICO score is at least 20 points above minimum for program - Required is 700 Borrower has 762 LTV is less than guideline maximum - Required is 80 Borrower has 75 Qualifying DTI below maximum allowed - Required is 45 Borrower has 11.88 Residual Income =/> 1.5 times $3,500 monthly residual income - Residual income $3k or more |
XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Purchase | NA | N/A | N/A | 8402215 | |
| XXXX | 2171410 | XXXX | D | B | D | B | A | A | C | A | Closed | FCRE1206 | 2026-03-31 09:27 | 2026-04-06 12:37 | Resolved | 1 - Information | C | A | Credit | Eligibility | All Interested Parties Not Checked with Exclusionary Lists | Resolved-All Interested Parties Checked against Exclusionary Lists - Due Diligence Vendor-04/06/2026 Ready for Review-Document Uploaded. - Seller-04/06/2026 Open-All Interested Parties Not Checked with Exclusionary Lists Missing Corporation XXXX. - Due Diligence Vendor-03/31/2026 |
Ready for Review-Document Uploaded. - Seller-04/06/2026 |
Resolved-All Interested Parties Checked against Exclusionary Lists - Due Diligence Vendor-04/06/2026 |
Qualifying FICO score is at least 20 points above minimum for program - Required is 700 Borrower has 762 LTV is less than guideline maximum - Required is 80 Borrower has 75 Qualifying DTI below maximum allowed - Required is 45 Borrower has 11.88 Residual Income =/> 1.5 times $3,500 monthly residual income - Residual income $3k or more |
XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Purchase | NA | N/A | N/A | 8402929 | |
| XXXX | 2171410 | XXXX | D | B | D | B | A | A | C | A | Closed | FCRE1334 | 2026-04-02 08:59 | 2026-04-06 12:32 | Resolved | 1 - Information | D | A | Credit | Missing Doc | Borrower 1 Executed 4506-T/4506-C is Missing | Resolved-Upon further review, 4506 is only required for Standard Doc credit files - Due Diligence Vendor-04/06/2026 Ready for Review-This is a bank statement loan, a 4506C is not required, no traditional income documentation was utilized - Seller-04/03/2026 Open-Borrower 1 Executed 4506-T/4506-C is Missing 4506-T/4506-C is absent the loan file, regarding of lender guides. Additional conditions may apply, pending review. - Due Diligence Vendor-04/02/2026 |
Ready for Review-This is a bank statement loan, a 4506C is not required, no traditional income documentation was utilized - Seller-04/03/2026 |
Resolved-Upon further review, 4506 is only required for Standard Doc credit files - Due Diligence Vendor-04/06/2026 |
Qualifying FICO score is at least 20 points above minimum for program - Required is 700 Borrower has 762 LTV is less than guideline maximum - Required is 80 Borrower has 75 Qualifying DTI below maximum allowed - Required is 45 Borrower has 11.88 Residual Income =/> 1.5 times $3,500 monthly residual income - Residual income $3k or more |
XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Purchase | NA | N/A | N/A | 8450190 | |
| XXXX | 2171410 | XXXX | D | B | D | B | A | A | C | A | Closed | FCRE8201 | 2026-03-31 09:44 | 2026-04-02 10:06 | Waived | 2 - Non-Material | C | B | Credit | Eligibility | Loan does not conform to program guidelines | Waived-Originator waiver applied to non material finding with comp factors. - Due Diligence Vendor-04/02/2026 Open-Non-Material as client will allow. Exception for FTHB and subject is investment property. - Due Diligence Vendor-04/02/2026 |
Waived-Originator waiver applied to non material finding with comp factors. - Due Diligence Vendor-04/02/2026 |
Qualifying FICO score is at least 20 points above minimum for program - Required is 700 Borrower has 762 LTV is less than guideline maximum - Required is 80 Borrower has 75 Qualifying DTI below maximum allowed - Required is 45 Borrower has 11.88 Residual Income =/> 1.5 times $3,500 monthly residual income - Residual income $3k or more |
FICO20 points or more above requirement; Total Debt 10%or more under requirement; Residual Income $3K or more | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Purchase | NA | Investor Post-Close | No | 8403333 | |
| XXXX | 2171413 | XXXX | C | A | C | A | A | A | A | A | Closed | FCRE7011 | 2026-04-07 08:17 | 2026-04-13 12:41 | Resolved | 1 - Information | C | A | Credit | Insurance | Rent Loss Coverage is Insufficient or Missing | Resolved-Upon further review, the loan file contained all required insurance coverage requirements. - Due Diligence Vendor-04/13/2026 Ready for Review-per guidelines, this is not needed - Seller-04/10/2026 Open-Rent Loss Coverage is Insufficient or Missing. Rent loss is required for XXXX DSCR - Due Diligence Vendor-04/07/2026 |
Ready for Review-per guidelines, this is not needed - Seller-04/10/2026 |
Resolved-Upon further review, the loan file contained all required insurance coverage requirements. - Due Diligence Vendor-04/13/2026 |
Qualifying FICO score is at least 20 points above minimum for program - Required is 700 Borrower has 755 Months Reserves exceed minimum required - 3 months reserves required, borrower has over 40 months of reserves |
XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Refinance | Cash Out - Other | N/A | N/A | 8521394 | |
| XXXX | 2171412 | XXXX | D | B | D | B | A | A | A | A | Closed | FCRE1200 | 2026-05-15 11:30 | 2026-05-20 09:39 | Waived | 2 - Non-Material | C | B | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Originator provided a waiver for loan amount, applied to non material finding with reviewed comp factors - Due Diligence Vendor-05/19/2026 Ready for Review-Document Uploaded. loan amount exception - Seller-05/18/2026 Open-Audited Loan Amount is less than the Guideline Minimum Loan Amount of $300000- Per UW 1008 advised lender exception for loan amount less than $300,000 however it was not provided in file. We need Lender exception. - Due Diligence Vendor-05/15/2026 |
Ready for Review-Document Uploaded. loan amount exception - Seller-05/18/2026 |
Waived-Originator provided a waiver for loan amount, applied to non material finding with reviewed comp factors - Due Diligence Vendor-05/19/2026 |
LTV is less than guideline maximum - Required is 80 Borrower has 75 DSCR =/> 1.00 and minimum is 0.85 or Less - DSCR. 1.14 min DSCR 0.80 Required is 0.8 Borrower has 1.14 Qualifying FICO score is at least 20 points above minimum for program - Required is 660 Borrower has 689 |
XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Purchase | NA | Originator Post-Close | No | 9221170 | |
| XXXX | 2171412 | XXXX | D | B | D | B | A | A | A | A | Closed | FCOM1351 | 2026-05-15 08:36 | 2026-05-19 17:22 | Resolved | 1 - Information | D | A | Credit | Missing Doc | Guaranty Agreement Missing | Resolved-Received Guaranty Agreement - Due Diligence Vendor-05/19/2026 Ready for Review-Document Uploaded. guaranty - Seller-05/18/2026 Open-The Subject Loan is a Business Purpose Loan but the Guaranty Agreement Doc is 'Missing'. missing guaranty agreement. - Due Diligence Vendor-05/15/2026 |
Ready for Review-Document Uploaded. guaranty - Seller-05/18/2026 |
Resolved-Received Guaranty Agreement - Due Diligence Vendor-05/19/2026 |
LTV is less than guideline maximum - Required is 80 Borrower has 75 DSCR =/> 1.00 and minimum is 0.85 or Less - DSCR. 1.14 min DSCR 0.80 Required is 0.8 Borrower has 1.14 Qualifying FICO score is at least 20 points above minimum for program - Required is 660 Borrower has 689 |
XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Purchase | NA | N/A | N/A | 9217290 | |
| XXXX | 2167915 | XXXX | A | A | A | A | A | A | A | A | A | A | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XX | Investment | Refinance | Cash Out - Other |