Exhibit 99.06 - Schedule 2

Loan Number

Loan ID

Finding #

Last Name

Note Date

DD Start Date

DD Delivery Date

Audit Category

Audit Issue

Finding ID

Exception Finding

Remediation Status

Exception Rebuttal

Exception Response

Status Comment

Compensating Factors

SOL Expiration Date

Initial Findings Grade

Final Findings Grade

Initial Loan Grade

Final Loan Grade

XXXX

2175443

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175443

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175443

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2165684

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165684

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165684

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2173482

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173482

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per Lender's guides the minimum loan amount is $XXXX. The loan amount for the subject loan is $XXXX, which is less than the minimum amount required.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Escalated.

Response 1 (XX/XX/XXXX XX:XXAM)
Program reflected on the data entry proof sheet is DSCR Supreme, which has a minimum loan amount of $XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed and elects to waive. Noted Compensating Factors: Experienced Investor, XXXX qualifying credit score, $XXXX verified reserves

XXXX. XXXX% LTV. Experienced Investor.

XXXX

2173482

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contained a CDA dated XX/XX/XXXX which supported the origination appraised value. However, a BPO was obtained dated XX/XX/XXXX which did not support the value in the origination appraisal report. Per the guidelines, the lower value in the BPO will be used for LTV purposes. Per the rating agencies, this is rated an EV2.

XXXX

2170889

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2170889

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2170889

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a BPO dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2173483

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173483

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per Lender's guides the minimum loan amount is $XXXX. The loan amount for the subject loan is $XXXX, which is less than the minimum amount required.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Escalated.

Response 1 (XX/XX/XXXX XX:XXAM)
Program reflected on the data entry proof sheet is DSCR Supreme,which has a minimum loan amount of $XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, experienced investor, $XXXX verified reserves.

XXXX. Experienced Investor. XXXX% LTV.

XXXX

2173483

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contained a CDA dated XX/XX/XXXX which supported the origination appraised value. However, a BPO was obtained dated XX/XX/XXXX which did not support the value in the origination appraisal report. Per the guidelines, the lower value in the BPO will be used for LTV purposes. Per the rating agencies, this is rated an EV2.

XXXX

2165682

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165682

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165682

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a BPO dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2165683

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165683

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165683

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file does not contain a secondary valuation product.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
CDA

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2170888

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2170888

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2170888

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163933

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163933

2 of 5

XXXX

Credit

Program Parameters - Loan Amount

XXXX

The loan amount is below the minimum allowable under the guidelines. Per guides, the minimum loan amount is $XXXX. The subject loan amount is $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception

Response 1 (XX/XX/XXXX XX:XXPM)
Exception must be granted by Investor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, Calculated DSCR of XXXX, $XXXX verified reserves, prior closed mtg XXXXx30x99 months

XXXX. XXXX DSCR. XXXX months of reserves.

XXXX

2163933

3 of 5

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. Per guides, XXXX-XXXX unit properties require a reduction in LTV by XXXX%. The subject is a XXXX unit property and closed with an LTV of XXXX%, which per the matrix is the max LTV. A XXXX% reduction for the subject XXXX unit property results in a max LTV of XXXX%. The LTV of XXXX% exceeds the max of XXXX% for a XXXX unit property.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception

Response 1 (XX/XX/XXXX XX:XXPM)
Exception must be granted by Investor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. XXXX months of reserves.

XXXX

2163933

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters. Per guides, property conditions are generally required to be C3 and properties with a C4 rating must be sufficiently justified to determine marketability and acceptance. Per the appraisal, the subject property condition is C4 and no sufficient justification to determine marketability and acceptance was provided.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception

Response 1 (XX/XX/XXXX XX:XXPM)
Exception must be granted by Investor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Subject, is currently rented and in livable condition, property is structurally sound and has no health and safety issues. Noted compensating factors: XXXX qualifying credit score, Calculated DSCR of XXXX, $XXXX verified reserves, prior closed mtg XXXXx30x99 months

XXXX. XXXX DSCR. XXXX months of reserves.

XXXX

2163933

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175442

1 of 7

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This is the recorded Scrivners

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The SA is stating a change to page one is being made on how the property is being vested. Therefore the borrower is required to initial the changes made to page XXXX in addition to providing the missing page XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175442

2 of 7

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Page XXXX is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX updated

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
conditions

XXXX

2175442

3 of 7

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The Mortgage was executed by an entity, but the entity documents are missing/incomplete. Unable to determine if signatures on mortgage are accurate.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
operating agreement

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The Mortgage has been executed by a member of XXXX; however, the entity documents are missing. Please provide a copy of the entity documents. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175442

4 of 7

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The operating agreement and resolution for the borrowing entity XXXX was not signed by any of it's members. Further, the certificate of good standing and articles of organization are missing from the loan file for the borrowing entity XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
LLC for blackfinn

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175442

5 of 7

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The guidelines require any owner of XXXX% or more of the borrowing entity must be a personal guarantor. Further, an application, credit report and background check is required on all personal guarantors. The borrowing entity consists of only XXXX members. XXXX with XXXX% membership and XXXX with XXXX% membership. The only guaranty in the loan file reflects XXXX with XXXX%. The signed guaranty, application, credit report and background check are missing from the loan file for XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
resolution

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175442

6 of 7

XXXX

Credit

Title Commitment - Other

XXXX

There are additional findings regarding the title commitment. The title commitment reflects the subject title is currently vested in XXXX and the final closing disclosure was signed as XXXX; however, the mortgage, guaranty and note were signed with XXXX. The title commitment in the loan file makes no indication of changing the vesting. Page one of the mortgage is missing and there is no deed present in the loan file to change the vesting from XXXX to XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
deed

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175442

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165678

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165678

2 of 3

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The maximum allowed LTV for a cash-out refinance with a loan amount of $XXXX and a qualifying FICO of XXXX is XXXX%. The subject closed with an LTV of XXXX% which exceeds the maximum allowed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Reviewed to XXXX and DSCR matrix dated XX/XX/XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165678

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2173481

1 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: on page XXXX the XXXX section is missing the notaries name at the top.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
recorded mortgage with corrected page XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2173481

2 of 4

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
HOI-all required

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
HOI

Response 1 (XX/XX/XXXX XX:XXPM)
All Perils is not reflected. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173481

3 of 4

XXXX

Credit

Program Parameters - LTV

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Reviewed to the Maverick NonQM and DSCR Matrices dated XXXX.XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Resolved)

XXXX

2173481

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165679

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165679

2 of 3

XXXX

Credit

Program Parameters - LTV

XXXX

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted compensating factors: Experienced Investor, DSCR of XXXX, XXXX qualifying credit score (no lates)

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2165679

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2177411

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177411

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177411

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2116785

1 of 5

XXXX

Compliance

Appraisal Notice - Missing

XXXX

There is no evidence the Borrower received The Notice of Right to Receive Copy of Appraisal within XXXX business days from application. Equal Credit Opportunity Act (Regulation B) 12 CFR XXXX Truth In Lending Act (Regulation Z) [HPML] 12 CFR 1026.35(a),(c). Informational only.

Acknowledged

XXXX

2116785

2 of 5

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

Not all required credit reports are within the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Credit reports attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2116785

3 of 5

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
signed final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2116785

4 of 5

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The max LTV for a purchase is XXXX%. The loan file closed with an LTV of XXXX%, which exceeds the max of XXXX%.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Loan is capped at XXXX% LTV for a TLA of $XXXX based on a total PP of $XXXX. Property appraised for $XXXX DSCR is XXXX. Can you please explain how XXXX% is being calculated?

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
assignment free cannot be added into the purchase price on a HUD. Please waive this exception.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Assignment fee can never be added to the purchase price of the property on a HUD/ALTA. It will always be reflected as a fee charge. LTV based on total PP of $XXXX is XXXX%. LTV based on the A-B purchase price of $XXXX is XXXX% LTV based on A-B PP plus XXXX% of assignment fee (XXXX) is XXXX% (below the purchase XXXX of XXXX%) There is nothing in the guidelines reflecting an assignment fee cap however so PP should be based on the full $XXXX Property appraised for $XXXX

Rebuttal 4 (XX/XX/XXXX XX:XXPM)
exception approval attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The assignment fee should have been added to the purchase price and not reflected as an expense. The HUD reflects a $XXXX purchase price and a $XXXX assignment fee expense. This results in a XXXX% LTV. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Unable to clear. It the assignment fee is not part of the purchase price, the LTV is excessive. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Unable to clear based upon response. The loan amount divided by the value must be XXXX% or less and it is not. (XXXX)

Response 4 (XX/XX/XXXX XX:XXPM)
The exception is incomplete. The doc provided only reflects: "The three below are all XXXX" There are no loans or waiver details present. (XXXX)

Response 5 (XX/XX/XXXX XX:XXAM)
XXXX from client with Investor approval to waive provided based on compensating factors. (Waived)

Comp factors - XXXX and reserves of $XXXX

XXXX

2116785

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2165681

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165681

2 of 4

XXXX

Credit

Program Parameters - Loan Amount

XXXX

Per Lender's guides, the minimum loan amount allowed is $XXXX. However, the subject loan amount is $XXXX, which is less than the minimum of $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX gave an exception

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. XXXX months of reserves.

XXXX

2165681

3 of 4

XXXX

Credit

Program Parameters - LTV

XXXX

Per Lender's guides, the minimum LTV for loan amount less than $XXXX is XXXX%. The LTV for the subject transaction is XXXX%, which exceeds the minimum of XXXX%.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
frank gave an exception

Response 1 (XX/XX/XXXX XX:XXAM)
Exception for loan amount was provided twice. Missing exception for LTV. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, $XXXX verified reserves, DSCR of XXXX

XXXX. XXXX DSCR. XXXX months of reserves.

XXXX

2165681

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168022

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168022

2 of 5

XXXX

Credit

Appraisal - Other

XXXX

The pictures on the appraisal indicate bars on the lower windows. The appraiser does not mention the bars and does not indicate if the bars have safety latches.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
updated appraisal

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2168022

3 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The final closing disclosure indicates a civil judgment in the amount of $XXXX with the creditor listed as XXXX was paid off as part of the cash-out refinance transaction. Guidelines state " the following requirements apply to a cash out refinance... the amount of any non-mortgage related debt paid through closing (ineligible on a business purpose loan)." While the debt being paid seems like it could be business related it is not recorded on title and would be considered non-mortgage related. The payoff of this debt is ineligible per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LOE for judgement

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2168022

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters. Guidelines state all originations are restricted in XXXX XXXX. The subject property is in XXXX, XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
“Lender made a location exception for XXXX, XXXX property and since the location is not on EMG’s restricted lending territory. The building is in overall good condition; LTV is only XXXX%; strong DSCR at XXXX. We also have a XXXX and XXXX supporting the $XXXXM value”.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Please get an exception on this. Lender made a location exception for XXXX, XXXX property and since the location is not on EMG’s restricted lending territory. The building is in overall good condition; LTV is only XXXX%; strong DSCR at XXXX. We also have a XXXX and XXXX supporting the $XXXXM value

Response 1 (XX/XX/XXXX XX:XXAM)
Exception must be granted by Investor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Investor exception not received. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Investor exception was received. (Waived)

Compensating Factors: LTV XXXX%, DSCR XXXX, $XXXX verified reserves. XXXX and XXXX supporting the $XXXXM value.

XXXX

2168022

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2163934

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX, however the mortgage lists XXXX XXXX. A deed transferring ownership interest from XXXX to121 XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
title does reflect the name on the mortgage

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
deed

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
deed

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The title and deeds provided do not contain the Warranty Deed/Quit Claim deed transferring vesting from XXXX to XXXX XXXX/borrower. Please provide for review. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documents not received. Please resubmit. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163934

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2163934

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163934

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2163939

1 of 3

XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX mortgage

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
mortgage

Response 1 (XX/XX/XXXX XX:XXAM)
Documents were not received. Please re-submit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163939

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163939

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163936

1 of 3

XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX mortgage

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
mortgage

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
mortgage attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documents were not received. Please re-submit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documents were not received. Please re-submit. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163936

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163936

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163937

1 of 3

XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX mortgage

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
mortgage

Response 1 (XX/XX/XXXX XX:XXAM)
Documents were not received. Please re-submit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163937

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163937

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163935

1 of 3

XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX mortgage

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
mortgage

Response 1 (XX/XX/XXXX XX:XXAM)
Documents were not received. Please re-submit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163935

2 of 3

XXXX

Credit

Sales Contract - Missing/Incomplete

XXXX

The sales contract in the loan file is not fully executed or incomplete/inaccurate. The loan file is missing the purchase agreement for the subject property located at XXXX-XXXX., XXXX, XXXX XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX mortgage

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
sales contract

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
signed contract

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Deed of Trust received does not address defect. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2163935

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163938

1 of 3

XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX mortgage

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
mortgage

Response 1 (XX/XX/XXXX XX:XXAM)
Documents were not received. Please re-submit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163938

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163938

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2121248

1 of 7

XXXX

Compliance

Appraisal Notice - Missing

XXXX

Acknowledged

XXXX

2121248

2 of 7

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument cannot be verified as accurate due to Title Commitment missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
title commitment has been uploaded. attached here as well.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
please see attached XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding.The Title Commitment provided reflects vesting in the name of XXXX. Please provide thewarranty deed or quit claim deed showing the transfer of vesting from theJCC Consultant LLC to the borrower, TGL LLC. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2121248

3 of 7

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The loan file is missing the Primary Sponsor's credit report and Borrower Authorization Form.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2121248

4 of 7

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2121248

5 of 7

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The guidelines indicate housing events that include past due accounts must have XXXX-months of seasoning from the time of the event for the sponsor to be eligible for the DSCR program. The loan file contains a VOM for the subject property mortgage dated XX/XX/XXXX that indicates a current account with no late payments. However, the mortgage payoff provided for the subject property dated XX/XX/XXXX reflects deferred mortgage payments for November and December XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
not a default. the payments were deferred with the extension fee. Extensions were paid on XXXX/XXXX and XXXX/XXXX. it wasn&#XXXX;t a housing event it was just an extension

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide formal extension in writing from said Lender. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2121248

6 of 7

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

A title commitment/policy with XXXX as the vested owner is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
commitment attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please see QCD attached. Title commitment also references the deed under B Part I # XXXX.a

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
XXXX is their acquisition entity and purchased in February of XXXX. Property was QCD&#XXXX;d at closing out of XXXX at closing into TGL LLC which is their holding entity. This is why it reflects as acquired in February and the deed transfer was December (at closing).

Response 1 (XX/XX/XXXX XX:XXAM)
Tile provided reflects the previous owner. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
XXXX reflects borrower took ownership in February XXXX. Please explain the delayed December XXXX deed transfer. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2121248

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2177408

1 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note are incomplete: the Note reflects an Interest Only payment but does not reference Interest Only Terms.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Updated note and CD signed by borrower acknowledging the IO

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
corrected note

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The updated pg. XXXX of the Note to disclose the loan is Interest Only has been provided. The borrower must be made aware of the changes to the Note. The previously signed Final CD cannot be used int lieu of having the changes initialed by the borrower or newly executed Note. Please provide the entire Note document with the changes initialed on pg. XXXX or a newly executed Note for review. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177408

2 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The county XXXX referenced on page XXXX of XXXX of the Security Instrument does not match the XXXX county name of XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
scrivener&#XXXX;s affidavit

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177408

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177408

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175444

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175444

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175444

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2177407

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177407

2 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The loan file is missing the Certificate of Good Standing for the borrowing entity known as XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This LLC is new so there is no COGS-Please Waive

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX just formed XX/XX/XXXX. (Resolved)

XXXX

2177407

3 of 4

XXXX

Credit

Gift Letter - Missing

XXXX

The Final Closing Disclosure and HUD-XXXX indicate the borrower received gift funds for the transaction, however the loan file is missing the required gift letter to stating the donor's relationship to the borrower, gift amount and statement that no repayment is expected.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
gift docs attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177407

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2165680

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165680

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165680

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2177409

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177409

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177409

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2177410

1 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note are incomplete: The Note and Prepayment Note XXXX misspelled/typo the name of the borrower. (XXXX and should be XXXX)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
corrected note

Response 1 (XX/XX/XXXX XX:XXPM)
The Limited POA in the loan file can be utilized for the clerical error on the Note. Please provide a copy of the corrected Note with the corrections initialed on the behalf of the borrower. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177410

2 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The name of the borrower is misspelled/typo on page XXXX, page XXXX and the Notary XXXX - XXXX. The XXXX-XXXX Family Rider also reflects the misspelling of the borrower name. (XXXX and should be XXXX)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Limited POA.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
scriveners aff

Response 1 (XX/XX/XXXX XX:XXPM)
The Limited POA in the loan file can be utilized for the clerical error on the Mortgage. Please provide a copy of the corrected Mortgage with the corrections initialed on the behalf of the borrower. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177410

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177410

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2177412

1 of 3

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

The loan was subject to XXXX and the Flood Notice was not received XXXX days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2)

Acknowledged

XXXX

2177412

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177412

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160570

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160570

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160570

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

The loan file only contains the first page and signature page of the final HUD. The other page which reflects the previous mortgage being paid off and the amount being received at closing is missing from the loan file. Therefore, it cannot be determined the amount of funds the borrowers received at closing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
The HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160570

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per Lender's guides, a mortgage payoff, original purchase settlement statement (for refinances) and property report, is required to be contained in the loan file. However, the documents are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. Included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The payoff comprises multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160570

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per Lender's guides, evidence of in-wall insurance is required. The loan file obtains a master policy reflecting the breakdown of each building XXXX-XXXX. However, the master policy does not reflect the breakdown of the subject property's in-wall insurance as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160570

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160571

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Quit Claim Deed uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160571

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160571

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160571

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff is for multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160571

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160571

6 of 6

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The CDA obtained in the loan file reflects XXXX #XXXX as the address. The subject's property address is XXXX #XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
AVM provided in the loan file dated XX/XX/XXXX supports the appraised value within 10%.

XXXX

2160572

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160572

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160572

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
JUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160572

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff is for multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160572

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resoled)

XXXX

2160572

6 of 6

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
AVM dated XX/XX/XXXX provided in the loan file supports the appraised value within 10%.

XXXX

2160573

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160573

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160573

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160573

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff is for multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160573

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160573

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160574

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160574

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160574

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160574

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff is for multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160574

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160574

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160575

1 of 6

XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) and riders are missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see attached deed and QCD.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160575

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160575

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160575

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per Lender's guides, a mortgage payoff, original purchase settlement statement (for refinances) and property report, is to be contained in the loan file. However, the the documents are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff is for multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160575

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160575

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160576

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Quit Claim deed.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160576

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160576

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160576

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per Lender's guides, a mortgage payoff, original purchase settlement statement (for refinances) and property report, is to be contained in the loan file. However, the documents are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff covers multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160576

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
walls in confirmation attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160576

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160577

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160577

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report for the entity could be generated

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provided No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160577

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160577

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff included multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160577

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation of walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160577

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160578

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Quit Claim deed

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160578

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160578

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160578

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff includes multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160578

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160578

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160579

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160579

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160579

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160579

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff covers multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160579

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
walls in confirmation attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160579

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160580

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160580

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160580

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160580

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff covers multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160580

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160580

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160581

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160581

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background for guarantors attached. no background report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160581

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160581

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in loan XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff covers multiple properties. Please provide all affiliated HUDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160581

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160581

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160582

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Entity name on the Security Instrument is inconsistent with the title. The Title reflects current vested interest is XXXX; however, the mortgage lists XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160582

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required for the borrowers and entity. However, the loan file does not contain background checks for the borrower, co-borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background reports for guarantors attached. XXXX report could be generated for the entity

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide No-Hit results for Entity. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160582

3 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Full HUD attached

Response 1 (XX/XX/XXXX XX:XXPM)
HUD does not contain a payoff. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160582

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
included in loan XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Payoff contains multiple properties. Please provide all affiliated HUDDs. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160582

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Confirmation on walls in coverage attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2160582

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2173059

1 of 4

XXXX

Compliance

HUD1 - Missing (All)

XXXX

There is no evidence of a HUD-XXXX Settlement Statement provided in the loan file. As a result the following reviews could not be performed: XXXX, XXXX, RESPA XXXX review, and final HUD-XXXX accuracy. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8(a)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2173059

2 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The subject closed in the name of XXXX. The investor guidelines a shareholder list detailing the number of shares assigned to each shareholder. All must equal the initial number of shares listed on the bylaws. The XXXX did not indicated the total number of share each shareholder. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Entity documentation - the original number of issued shares is reflected in the filed Articles reflecting XXXX shares. Share certificate filed indicates XXXX owning all XXXX shares.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173059

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The subject is a DSCR loan with a DSCR of .XXXX and LTV of XXXX%. The investor guidelines allowed a maximum LTV of XXXX% with DSCR <XXXX%. LTV exceeds maximum allowable.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Matrix allows to go up to XXXX% LTV on Purchases. see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Does the attached not allow for up to XXXX% LTV for a DSCR between XXXX and XXXX? How was this rate locked if not acceptable? DSCR will be above a XXXX if using market rent, but a tenant came with the sale of the property and will be removed upon lease expiration.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
please see updated.

Rebuttal 4 (XX/XX/XXXX XX:XXAM)
apologies for the confusion in this senecio we default to ellingtons matrix which allows for this.

Rebuttal 5 (XX/XX/XXXX XX:XXAM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The Investor matrix was not used on this loan. The XXXX matrix was used. Investor overlays do not include the matrix. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Pricing adjustment matrix provided was not part of the documentation included for loan review. Please reconcile. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Matrix provided reflects maximum LTV of XXXX%. If there is an Investor exception, please provide. (XXXX)

Response 4 (XX/XX/XXXX XX:XXAM)
Explanation acknowledged; however, that was not the direction provided for this specific review. Please have Investor confirm. (XXXX)

Response 5 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor (Waived)

XXXX. XXXX months of reserves.

XXXX

2173059

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2179924

1 of 6

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The loan agreement is missing pg. XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2179924

2 of 6

XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The appraisal for subject property XXXX is indicated to be a XXXX-unit triplex. The box for XXXX units is marked; however, the design (Style) is indicated to be a triplex and consists of XXXX units. Corrected appraisal recommended.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see updated report.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179924

3 of 6

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

Not all required credit reports are within the file. The credit reports for both borrowers, XXXX and XXXX are missing from the loan file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Tiffany is the primary borrower.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
please see attached.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
XXXX is not guarantying the loan he is only signing on behalf of the entity. A credit report it not required.

Response 1 (XX/XX/XXXX XX:XXPM)
Both are borrowers. Credit report is required for both. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Still missing credit report for XXXX. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2179924

4 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The loan file did not contain a background report for the borrowing entity XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
fraudx report attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Still missing background for XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179924

5 of 6

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing. The loan file does not contain any applications for any borrowers.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Lorenzo is not guarantying the loan he is only signing on behalf of the entity. He is not required to sign an application.

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX also signed the Note. Please provide application. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2179924

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX which support the appraised values.

Cleared

XXXX

2167930

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167930

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167930

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2175194

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175194

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background report is required on primary sponsor and entity. The loan file obtains a background report for the borrower; however, the loan file does not contain a background report for the entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The fraudX report included in the file contains the entity OFAC, see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please see attached.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
attached.

Rebuttal 4 (XX/XX/XXXX XX:XXAM)
see attached.

Rebuttal 5 (XX/XX/XXXX XX:XXPM)
Documentation uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
OFAC is not a complete background check. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Document not attached. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Still missing Entity background report. (XXXX)

Response 4 (XX/XX/XXXX XX:XXAM)
TheSeller provided background reports for XXXX, XXXX, and JoseEsparza. There was no background report for XXXX. It wasonly listed as a business connection for XXXX. (XXXX)

Response 5 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175194

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2179926

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179926

2 of 3

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The loan file is missing a XXXX month VOM supporting 0x30x12 for the subject property.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
we do not require VOM&#XXXX;s why is this being asked for?

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
This is the subject property that is being refinanced. The mortgage history is required per conversation with XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179926

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2167931

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167931

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Application uploaded. See attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167931

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2167932

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167932

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Application uploaded. See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2167932

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2173060

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173060

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173060

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2167929

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167929

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167929

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2177430

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment amount that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum prepayment penalty percentage of XXXX%, the loan has a prepayment penalty percentage of XXXX%, XXXX%, XXXX%. The loan fails the prepayment test.

Acknowledged

XXXX

2177430

2 of 3

XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The subject loan is a cash out refinance of an investment property with a loan amount of $XXXX, a Note date of XX/XX/XXXX and an appraised value of $XXXX. The deed reflects the borrower purchased the property on XX/XX/XXXX, and the appraisal reflects the purchase amount was $XXXX. The guidelines reflect that if the subject property is owned less than XXXX months, the lesser of the appraised value or cost basis for value is to be used, and if the property is owned between XXXX to XXXX months, use of the appraised value is only permitted if there is proof of improvements made to the property. The appraisal does not reflect improvements or cost of improvements that may have been made, and the loan file does not contain a Rehab Budget or Statement of Work for any repairs or improvements made to the property. If documentation of improvements to support the use of the appraised value of $XXXX cannot be obtained or provided, then the value to be used to determine qualifying LTV is the original purchase price of $XXXX bringing the LTV to a negative number making the subject loan an ineligible transaction. Please provide proof and cost of improvements. ***Additional conditions may apply ***

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX does mention recent renovations made. See page XXXX of the appraisal. "Kitchen - updated less than XXXX year ago. Bathrooms - updated less than XXXX year ago. The dwelling has been well maintained. Some components, but not every major building component, may be updated or recently rehabbed. Updates include: kitchen updated - cabinets painted, laminate countertop, new flooring, bath updated - fresh glazed surround, new flooring, new carpet throughout, fresh paint"

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
SOW attached.

Response 1 (XX/XX/XXXX XX:XXPM)
The detailed rehab budget is required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177430

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2165382

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165382

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165382

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2167927

1 of 6

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167927

2 of 6

XXXX

Credit

Assets - Minimum Reserves

XXXX

The borrowers are required to verify $XXXX, which consist of XXXX months reserves $XXXX and CTC $XXXX. The borrowers verified $XXXX in funds. The borrowers are short funds of -$XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX had a refinance - XXXX close on XXXX/XXXX where he received $XXXX in cash out proceeds to use towards liquidity for XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2167927

3 of 6

XXXX

Credit

Credit Report - Aged

XXXX

Per Lender's guides, a hard pull is required for new sponsors to the Lender upon first loan submission. All subsequent loans require a soft pull dated within XXXX days of loan closing. The borrower has a few loans with the Lender. Therefore, a soft pull is required to be contained in the loan file. The loan file obtains a credit report for the borrower dated XX/XX/XXXX. The note is dated XX/XX/XXXX, which is more than XXXX days. The loan file does not contain a more recent credit report dated within XXXX days as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
updated credit report attached.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
report attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Missing updated credit report for XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Still missing updated credit report for XXXX. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167927

4 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background check is required on primary sponsor and entity. The loan file does not contain a background check for the entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
entity background check is part of the fraud report refer to page XXXX

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Still missing Entity background check. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Page XXXX lists the Entity as an Employer. It is not a background check on the entity. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167927

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The borrowers used assets from XXXX #XXXX, which is a business account for XXXX. However, the loan file does not contain any documentation indicating the borrowers have ownership of said business.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see attached operating agreement.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2167927

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2167928

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167928

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167928

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2167934

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167934

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Application uploaded. See attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167934

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2173061

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173061

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173061

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2177436

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177436

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. A background report for the borrower and entity are required to be contained in the loan file. However, the loan file is missing a background report for the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see attached reports.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
entity background report attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Still missing entity background check. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177436

3 of 4

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177436

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2173067

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173067

2 of 3

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The origination credit for the borrower/guarantor, XXXX, was not provided as required. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Credit report uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173067

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2177431

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177431

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177431

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loa file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2177434

1 of 7

XXXX

Compliance

HUD1 - Missing (All)

XXXX

There is no evidence of a HUD-XXXX Settlement Statement provided in the loan file. As a result the following reviews could not be performed: TILA Accuracy, MDIA, XXXX, XXXX, QM XXXX, XXXX, XXXX, RESPA XXXX review, and final HUD-XXXX accuracy. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8(a)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177434

2 of 7

XXXX

Credit

Assets - Minimum Reserves

XXXX

Per Lender's guides, the borrower is required to verify XXXX months reserves, for properties that are leased at the time of closing. The borrower was required to verify XXXX months of reserves or $XXXX. However, the borrower verified $XXXX. The loan file does not obtain a final HUD to determine the amount of proceeds received. Therefore, the borrower is short verified funds -$XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177434

3 of 7

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The borrower's credit report is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received. (Resolved)

XXXX

2177434

4 of 7

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background report is required on both borrower and entity. The loan file obtains a background report for the borrower; however, a background report is missing for the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
entity report attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177434

5 of 7

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Per Lender's guides, a certificate of good standing is required to be obtained in the loan file for the entity. The loan file obtains a business search dated XX/XX/XXXX, however, the search reflects the business being in pending inactive status. The loan file does not contain any other updated documentation to indicate the business is in good standing as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
updated cogs attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177434

6 of 7

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received. (Resolved)

XXXX

2177434

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175197

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175197

2 of 4

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The borrower's credit report is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received. (Resolved)

XXXX

2175197

3 of 4

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received. (Resolved)

XXXX

2175197

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2177435

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177435

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, background reports are required on borrower(s) and entity. The loan file obtains background reports for the borrower; however, the background report is missing for the entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
entity LN report attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177435

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2173063

1 of 5

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2173063

2 of 5

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX% prepayment term for XXXX months, the loan has a XXXX%, XXXX% and XXXX% prepayment term for XXXX months. The loan prepayment percentage exceeds the allowable percentage.

Acknowledged

XXXX

2173063

3 of 5

XXXX

Credit

DSCR - Missing HUD

XXXX

Missing Final HUD-XXXX as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached,

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
HUD attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173063

4 of 5

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Application uploaded. See attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173063

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2167933

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167933

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Application uploaded. See attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167933

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175199

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175199

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. Insurance policy provided does not indicate All Perils coverage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see attached from agent.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175199

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2175198

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175198

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
entity OFAC can be found on the fraud report.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
background report attached.

Response 1 (XX/XX/XXXX XX:XXAM)
OFAC is not a background check. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175198

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2173062

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173062

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2173062

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2147733

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument cannot be verified as accurate due to Title Commitment missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Commitment and QCD for the transferred property attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2147733

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. The evidence of insurance for the subject property located at XXXXXX does not indicate all perils as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Under &#XXXX;Coverage Information&#XXXX; the Perils insured are marked as &#XXXX;Broad Coverage&#XXXX; which is an acceptable form under XXXX last approved guidelines.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2147733

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. No value supporting documentation was present in the loan file for XXXX. The loan file contains CDAs, dated XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX which support the appraised values of the remaining subject properties.

Resolved

Response 1 (XX/XX/XXXX XX:XXPM)
CDA received supports value.(Resolved)

XXXX (XX/XX/XXXX XX:XXAM)
CDA for XXXX Polly Reed

XXXX

2167189

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2167189

2 of 3

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Missing Lease agreement or not complete per guidelines. The loan file is missing the current lease for Unit #XXXX, additionally the lease for Unit XXXX is not signed by our borrower as XXXX and there is not a Property Management Agreement in the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
-LOE on XXXX lease (tenant broke the lease and moved out) -Signed lease for Unit 2 (see page XXXX of agreement) attached -Assignment of lease from previous landlord to our borrowing entity XXXX attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2167189

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contain a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173136

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2173136

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The Bylaws for the borrowing entity XXXX are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX of XXXX attached. Amended ownership confirmation attached showing XXXX with XXXX% ownership and XXXX with XXXX%.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173136

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX and XX/XX/XXXX which support the appraised values.

Cleared

XXXX

2169505

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169505

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169505

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2169501

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169501

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169501

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2167187

1 of 3

XXXX

Compliance

State Testing - Late Fees Test

XXXX

This loan failed the late fees test. The loan has late fees that do not conform to the requirements for the lender's license type in the state where the property is located. The state regulation of XXXX allows for a maximum XXXX% late fee, the loan has a XXXX% late fee. The loan fails the late fees test by XXXX%.

Acknowledged

XXXX

2167187

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167187

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173137

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173137

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173137

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173140

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173140

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173140

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173139

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173139

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173139

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2167188

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167188

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167188

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173138

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2173138

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173138

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2169502

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169502

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169502

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2169503

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169503

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169503

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX,which supports the original appraised value.

Cleared

XXXX

2167186

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167186

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167186

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2169504

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169504

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169504

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173141

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173141

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173141

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2177277

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177277

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177277

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2173142

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173142

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173142

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2177279

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument is inconsistent XXXX. The Vested Interest on the Security Instrument reflects XXXX whereas Title reflects XXXX. The loan file did not contain evidence of an executed transfer deed to support the change in Vested Interest.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Transfer deed attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177279

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test XXXX XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2177279

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177279

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2173143

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173143

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173143

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173144

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173144

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173144

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2177278

1 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower name on the Security Instrument is inconsistent with the Title Commitment report. Vested interest on the Security Instrument cannot be verified as accurate due to naming mismatch found in loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Transfer deed attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177278

2 of 6

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2177278

3 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

The loan file is missing the Background Report for Borrower/Guarantor XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Liens & Judgments and Criminal search for XXXX attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177278

4 of 6

XXXX

Credit

Final Application - Inaccurate

XXXX

The Loan Application and Borrower Authorization in file reflects the subject property as "XXXX" vs. "XXXXoodstown, XXXX XXXX."

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Corrected loan app and borrower authorization attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177278

5 of 6

XXXX

Credit

Title Commitment - Other

XXXX

Title is currently vested as XXXX and missing a Quit Claim Deed from XXXX to the XXXX, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Transfer deed attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177278

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2175195

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175195

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

The subject loan closed in the name of an entity, HBP XXXX to XXXX LLC. The investor guidelines required an entity background report. The required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX was created in March of XXXX. There were no search results for the entity for the background report. Search results uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175195

3 of 4

XXXX

Credit

Program Parameters - Cash-Out, Delayed Financing

XXXX

The Note date was XX/XX/XXXX. The subject property was purchased as a cash transaction XX/XX/XXXX. The investor guidelines required documentation to support the source of funds for the original purchase. Required documentation to meet the delayed financing guidelines was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Can we waive this? There was no payoff, and we were not considering this as a delayed purchase as budget was provided along with the appraisal mentioning improvments.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
please see attached budget.

Response 1 (XX/XX/XXXX XX:XXPM)
Budget of improvements was not received. Please provide. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175195

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2173065

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173065

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2173065

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175200

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175200

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background report is required on both borrower and entity. The loan file obtains a background report for the borrower; however, a background report is missing for the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached entity background report.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received. (Resolved)

XXXX

2175200

3 of 4

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175200

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2173064

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173064

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Application uploaded. See attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173064

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2173066

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173066

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

The subject closed in the name of an entity, XXXX. The investor guidelines required a background report on the XXXX. Required document was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Uploaded

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2173066

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2175196

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175196

2 of 4

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The origination credit for Borrower/Guarantor, XXXX, was not provided as required. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Credit Report Uploaded

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Our guidelines do not require VOMs.

Response 1 (XX/XX/XXXX XX:XXPM)
The credit report was received. However, the mortgage history for XXXX, loan #XXXX326, is not reporting. A XXXX month history is required. The file only contains evidence of payments for XXXX/XXXX, XXXX/XXXX, XXXX/XXXX and XXXX/XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Mortgage history must XXXX reviewed for no XXXX day late payments. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. XXXX months of reserves.

XXXX

2175196

3 of 4

XXXX

Credit

Final Application - Missing

XXXX

The Business Loan Purpose Loan Application for the borrowers/guarantor was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Uploaded

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175196

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2179925

1 of 6

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The note is only signed by one member and there are XXXX member signature lines reflected on page XXXX of the note and XXXX members are listed on the mortgage application.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see signature page.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2179925

2 of 6

XXXX

Credit

Assets - Minimum Reserves

XXXX

Per Lender's guides, XXXX months reserves are required for lease properties. The borrowers were required to verify $XXXX and $XXXX XXXX months reserves, which is a total of $XXXX. However, the borrowers verified $XXXX in assets. Therefore, the borrowers are short -$XXXX in verified assets.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX - closed same day. Borrower got $XXXX HUD attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179925

3 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, background reports are required on both borrower(s) and entity. The loan file does not contain background reports for either borrower and entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LN reports attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179925

4 of 6

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Per Lender's guides, a good standing is required to be contained in the loan file for the entity. The loan file does not contain a good standing for the entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179925

5 of 6

XXXX

Credit

DSCR - Missing HUD

XXXX

Per Lender's guides, the original purchase settlement statement is required to be obtained for refinance transactions. The subject was purchased on XX/XX/XXXX; however, the loan file does not contain the original settlement statement as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
purchase HUD attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179925

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2177433

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX; however, the mortgage lists XXXX. A deed transferring ownership interest from XXXX to XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2177433

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, a background report is required on both borrower and entity. The loan file is missing a background report for the borrower as required. Business was formed on XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This is a brand-new entity no reporting will be available.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
no hit search attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide the No-Hit results. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177433

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2177432

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177432

2 of 5

XXXX

Credit

Credit Report - Aged

XXXX

The credit report was > XXXX days at the time of closing. The loan file obtains a credit report dated XX/XX/XXXX. Note is dated XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177432

3 of 5

XXXX

Credit

DSCR - Missing HUD

XXXX

Per Lender's guides, the original purchase settlement statement are required for refinance transactions. The subject transaction is a cash out refinance. However, the loan file is missing the required settlement statement for the original purchase.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
purchase HUD attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177432

4 of 5

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177432

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2179928

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179928

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Per lender's guides, background reports are required for the borrower(s) and entity. The loan file obtains a background report for the borrower; however, the background report for the entity is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached background report

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2179928

3 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Per Lender's guides, a certificate of good standing is required to be provided. The loan file is missing a certificate of good standing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached COGS

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2179928

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2177437

1 of 6

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177437

2 of 6

XXXX

Credit

Borrower - Identification

XXXX

Per Lender's guides, the borrowers are required to provide identification. The loan file does not contain identification for the co-borrower as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX and SS card attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177437

3 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Per Lender's guides, background reports are required on both borrower(s) and entity. The loan file obtains background reports for the borrowers; however, the background report is missing for the entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
entity report attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177437

4 of 6

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Per Lender's guides, a good standing is required to be contained in the loan file for the entity. The loan file does not contain a good standing for the entity as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177437

5 of 6

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Per Lender's guides, a lease agreement is required to be provided for refinance transactions. The appraisal obtained in the loan file reflects tenants as the occupants; however, the loan file does not contain a lease agreement as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
lease agreement attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177437

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2179927

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment amount that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum prepayment penalty amount of XXXX% for XXXX months, the loan has a prepayment penalty amount of XXXX%,XXXX%,XXXX% for XXXX months. The loan fails the prepayment test.

Acknowledged

XXXX

2179927

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX was formed within the previous XXXX-months. No background report for the entity could be generated. Please see uploaded search results where the entity could not be found

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2179927

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2165584

1 of 8

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165584

2 of 8

XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. Guidelines require properties with a condition rating of C4 require additional review and any deferred maintenance must be repaired prior to closing. While the deferred maintenance issues were repaired for both subject properties, the condition rating was not changed from a C4 condition and the subject transaction is a cash-out refinance. Guidelines do not allow a C4 condition on a cash-out refinance. Further, the appraisal for the subject property located at XXXX reflects a condition rating of C4 and the majority of comparable sales used are classified as C3, which is also not allowed. Recommend update from appraiser specifying new condition rating after repairs.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See GL exception approved by investor

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Exception uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Lender exception provided for C4 property on a cash-out refinance with a final inspection provided for deferred maintenance repairs. Client to approve downgrading finding based on compensating factors. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: DSCR XXXX, LTV XXXX%, repairs per appraisal completed.

XXXX

2165584

3 of 8

XXXX

Credit

Assets - Minimum Reserves

XXXX

Sufficient reserves to meet underwriting requirements and PITI were not verified in the file. The borrower was required to evidence XXXX months reserves, which is the equivalent of $XXXX in reserves. The loan file only contained evidence of $XXXX in qualifying assets. Due to qualifying credit score <XXXX, subject cash-out proceeds are not allowed to be used to satisfy reserve requirements. As a result, there is a $XXXX shortage in verified assets.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached bank VOD which shows assets in the amount of $XXXX which are sufficient.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See GL exception approved by investor

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Exception uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
If the recent $XXXX large deposit is excluded, assets are not sufficient. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Lender exception provided for assets, using balance of $XXXX. Client to approve downgrading finding based on compensating factors. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: DSCR XXXX, LTV XXXX%, credit history sufficient, majority of lates are older and were on student loans, excellent mortgage history.

XXXX

2165584

4 of 8

XXXX

Credit

Credit - OFAC Screening

XXXX

The loan file does not contain evidence the Borrower(s) passed the OFAC screening process. The loan file does not contain an OFAC screening result for the borrowing entity or guarantor.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165584

5 of 8

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The borrower's background report reflects several criminal records which are not explained in the loan file. The loan file does contain an email reflecting that a letter of explanation is required; however, the letter of explanation is not present in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached LOE.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165584

6 of 8

XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing for both subject properties.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165584

7 of 8

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The mortgage history in the loan file was incomplete or missing. The loan file did not contain mortgage history for the mortgage reporting to title.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPF does not require VOMs unless a payoff shows lates. Although a payoff wasn&#XXXX;t obtained, the credit report for the borrower does not show any late payments on mortgages. Also, commitment is attached along with an email from title stating that XXXX, #XXXX-XXXX will be removed. A copy of the release of XXXX is also attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See GL exception approved by investor

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Exception uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The referenced mortgage is not on the credit report. Past payment history must be considered in the lending decision. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Lender exception provided for not obtaining mortgage history for mortgage reporting on title commitment, not reporting on the credit report. Client to approve downgrading finding based on compensating factors. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: DSCR XXXX, LTV XXXX%, credit history sufficient, majority of lates are older and were on student loans, excellent mortgage history.

XXXX

2165584

8 of 8

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs dated XX/XX/XXXX, which supports the original appraised values.

Cleared

XXXX

2152612

1 of 4

XXXX

Compliance

Note - Signature Discrepancy

XXXX

The signature on the XXXX does not appear to match loan documents. The borrower is an entity however the XXXX was signed as an Individual. Page one of mortgage only listed the entity and Title only listed borrower as entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
OA and XXXX attached. XXXX is the guarantor for this deal and is the sole ownership to sign.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2152612

2 of 4

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state “All Perils” or meet one of the three options provided in overlay to Correspondent. Evidence of all perils coverage was missing for the subject properties located at XXXX and XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
HOI w/ all other perils

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Rentals do not have separate wind and hail deductibles and stated that these state farm policies all include special form FP-XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Still missing evidence of XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Explanation and documentation received is sufficient. (Resolved)

XXXX

2152612

3 of 4

XXXX

Credit

Income - Rental Property/Missing Lease

XXXX

The rental income was not properly documented. Lease agreement is required but missing from the loan file. The loan file contained a security deposit receipt in the amount of $XXXX for the subject property located at XXXX and the appraisal reflects the rent to be $XXXX per month; however, a copy of the lease agreement reflecting the rent amount and terms is not present in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX is marked tenant but the pictures ofthe property show that this unit is vacant.

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX was completed onXXXX.XXXX and reflects Tenant but pictures reflect property is empty and underrepair for next tenant. There is a rent receipt for $XXXX for the security depositprovided on XXXX.XXXX. It is not uncommon for a security deposit to beprovided before lease is signed prior to moving in. Market rent used. (Resolved)

XXXX

2152612

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX which supports the appraised values.

Cleared

XXXX

2159533

1 of 6

XXXX

Compliance

ARM Disclosure - Missing

XXXX

The file contains no evidence that the ARM Disclosure was provided to the borrower. Truth in XXXX (Regulation Z) 12 CFR 1026.19(b)(1)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Initial ARM Program Disclosure attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2159533

2 of 6

XXXX

Compliance

HOC - Missing

XXXX

The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a)

Acknowledged

XXXX

2159533

3 of 6

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Electronic Recording Service Fee, Technology fee, Settlement or Closing Fee , Survey Fee, Title Endorsement Fee and addition of Notary Fee. The Loan file did not contain a Service Provider List therefore all Title fees were subject to XXXX% tolerance. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2159533

4 of 6

XXXX

Compliance

TRID - CD - $100 Tolerance Threshold/Non-Rescindable

XXXX

TRID - CD - $XXXX Tolerance Threshold/Non-Rescindable. Testing for TILA, Total of Payments, Federal and State threshold accuracy could not be completed through the compliance tool. The Index Rate provided in the loan file was not available within the XXXX day look-back period. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2159533

5 of 6

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2159533

6 of 6

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. Missing valuation to support original appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
2nd AVM provided

Response 1 (XX/XX/XXXX XX:XXPM)
AVM provided and supports the origination value within 10%. (Resolved)

XXXX

2165585

1 of 9

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165585

2 of 9

XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. Guidelines require the property condition rating to be C1, C2, XXXX or C4 (allowed with conditions) for the DSCR program. The appraisal reflects the condition as average. The CDA reflects C4. C4 condition for rental loans are only eligible for XXXX, XXXX and Term, and Delayed Purchase transactions. Subject transaction is cash out.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached GL exception approval.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Buyer exception provided.

Response 1 (XX/XX/XXXX XX:XXPM)
Lender exception provided for C4 property on a cash-out refinance with various repairs completed. Client to approve downgrading finding based on compensating factors. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: DSCR XXXX, XXXX, experienced investor

XXXX

2165585

3 of 9

XXXX

Credit

Appraisal - Repairs

XXXX

The appraiser comment on unit XXXX: noted repairs-unit XXXX to be observed and also stated it is assumed that unit XXXX is in similar condition. No photos of Unit XXXX provided in the file. The appraiser did not elaborate on any needed repairs and the appraisal was completed as is. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached 1004D.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165585

4 of 9

XXXX

Credit

Appraisal - Repairs

XXXX

The appraiser noted that the water heaters are to be double strapped for units XXXX, XXXX and XXXX. The file did not contain documentation to confirm completed. XXXX detectors only shown in Unit XXXX and Unit XXXX. Subject is located in XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165585

5 of 9

XXXX

Credit

Credit Report - Other

XXXX

There are additional credit findings. Final XXXX with loan amount of $XXXX is required. Loan amount on the loan application is $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached updated application.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165585

6 of 9

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The HOI policy reflects a XXXX company (XXXX) and the file is missing the Property Management Agreement.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165585

7 of 9

XXXX

Credit

Program Parameters - Other

XXXX

Guideline requirement has not been met. The background check from XXXX reflected not specified possible criminal charges for the co-borrower. The file did not contain documentation regarding the details. Noted, a letter from the borrower regarding his possible criminal charges was provided in the file. The report also reflected tax liens against the borrower, co-borrower and the borrowing entity (XXXX). The file did not contain any documentation confirming the status of the tax liens. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPF UW waived the info regarding the county tax XXXX due to the small amount and the borrower having $XXXX in assets. Please clear.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Waiver accepted by PPF

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver must be granted by Investor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX reserves, DSCR of XXXX

Compensating Factors: XXXX qualifying credit score, $XXXX reserves, DSCR of XXXX

XXXX

2165585

8 of 9

XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters for Property Type. Per guides, the minimum square footage for Attached and Detached SFR, PUD, and Townhome is XXXX. For the subject XXXX unit property XXXX units are XXXX sq ft and XXXX units are XXXX ft. which does not meet guidelines.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This is a quadplex, not an Attached or Detached SFR, PUD, and Townhome. XXXX footage of the property is XXXX ft. See attached appraisal. Please clear.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2165585

9 of 9

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA dated XX/XX/XXXX which supports appraised value.

Cleared

XXXX

2163927

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163927

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163927

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163923

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163923

2 of 4

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of reserves ($XXXX) and funds required to close ($XXXX). The HUD reflects reserves/cash to close total $XXXX; however, verified total assets from bank statements provided are $XXXX, resulting in an asset shortage of $XXXX.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating Factors: XXXX qualifying credit score, DSCR of XXXX; 0x30xXXXX month mortgage history

Compensating Factors: XXXX qualifying credit score, DSCR of XXXX, 0x30x63 mortgage history

XXXX

2163923

3 of 4

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The file was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. HUD reflects payment of $XXXX to XXXX; however, the file contains only a policy proposal with an effective date of XX/XX/XXXX. Subject loan closed XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached dec page - policy started on XX/XX/XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2163923

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2169792

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169792

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached email confirmation from the insurance agent.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2169792

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165587

1 of 6

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165587

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. While the loan file contains the background report for XXXX, the background report for the borrowing entity per the note XXXX is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165587

3 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lease agreement reflected rent of $XXXX per month. The market rent was $XXXX per month. The DSCR is less than XXXX if the market rent is used, which results in an excessive LTV. If the $XXXX lease amount is to be used, then XXXX months of cancelled rent checks are required.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPF agrees.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client approved, LTV condition. Noted Compensating factors: XXXX qualifying credit score, Experienced Investor, XXXXx30x44 month mortgage history

Compensating Factors: Experienced Investor, XXXX qualifying credit score, XXXXx30x44 month mortgage history

XXXX

2165587

4 of 6

XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing. A copy of the flood certificate is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached flood cert - zone X.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165587

5 of 6

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The maximum LTV allowed for a cash out-refinance to a non-permanent resident is XXXX%. The subject closed with an LTV of XXXX%, which exceeds the maximum allowable.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See GL exception approved by investor

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. Experienced Investor. XXXX months of reserves.

XXXX

2165587

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165586

1 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment term test. The loan has a prepayment term that does not conform to the requirements for the lender's license type in the state where the property is located. Per XXXX 1343.011(C)(2)(b), loan amounts equal to or greater than $XXXX (XXXX-XXXX units), prepayment penalty XXXX is XXXX% and XXXX years.

Acknowledged

XXXX

2165586

2 of 4

XXXX

Credit

Contract Addendum - Missing

XXXX

The Sales Contract Addendum(s) is/are missing. The loan file contains a purchase contract dated XX/XX/XXXX with a purchase price of $XXXX, the loan file also contain a contract addendum dated XX/XX/XXXX which reflects a revised purchase price of $XXXX. XXXX in the loan file however reflects a sales price of the original $XXXX. Please provide an updated contract addendum lowering the sales price back to $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached settlement statement. Purchase price of $XXXX does not include the assignment fee of $XXXX which would bring the total sales price to $XXXX. See second page of the settlement statement for the Assignment Fee under Miscellaneous.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
PPF agrees to waiver.

Response 1 (XX/XX/XXXX XX:XXAM)
Assignment fee must be part of the purchase price and not listed as a closing cost. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: $XXXX verified reserves, Experienced Investor, DSCR of XXXX

Compensating Factors: Experienced Investor, $XXXX verified reserves, DSCR of XXXX

XXXX

2165586

3 of 4

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. Per program guidelines the maximum LTV on a purchase loan with a FICO of XXXX and DSCR above XXXX is XXXX%. The subject loan closed with an LTV of XXXX%

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPF agrees to the waiver.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: $XXXX verified reserves, Experienced Investor, DSCR of XXXX

Compensating Factors: Experienced Investor, $XXXX verified reserves, DSCR of XXXX

XXXX

2165586

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2165588

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165588

2 of 5

XXXX

Credit

Appraisal - Appraisal Missing

XXXX

Missing required appraisal from file. Appraisal to be provided to include the rent schedule in order to determine market rent for accurate DSCR calculation. Rent from data tape of $XXXX used to calculate DSCR. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165588

3 of 5

XXXX

Credit

Interested Party Contribution - Exceeds

XXXX

The Interested Party Contributions exceed allowable guideline. The prelim HUD reflects IPC of $XXXX, which exceeds the XXXX allowed of XXXX% of the sales price of $XXXX, for a total XXXX of $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPF agrees to waiver.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX verified reserves, XXXXx30x45 month mortgage history

Compensating Factors: XXXX qualifying credit score, $XXXX verified reserves, XXXXx30x45 month mortgage history

XXXX

2165588

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters. The file is missing leases on the subject property if applicable. The data tape indicates property is XXXX units and rent used of $XXXX. Noted, appraisal is missing; therefore, unable to determine occupancy of each unit. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached - both units have tenants in place.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
PPF agrees to waiver.

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide the leases. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX verified reserves, XXXXx30x45 month mortgage history

Compensating Factors: XXXX qualifying credit score, $XXXX verified reserves, XXXXx30x45 month mortgage history

XXXX

2165588

5 of 5

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain a CDA, XXXX, or AVM by XXXX to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2163932

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163932

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163932

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2167963

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167963

2 of 4

XXXX

Credit

Appraisal - Borrower Info

XXXX

The borrower's name on the appraisal does not match other loan file documentation. On each of the three appraisal included with the loan file the borrower name reflects XXXX, however the application and all other loan documentation reflect the borrower as XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached appraisals.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167963

3 of 4

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Missing Lease agreement or not complete per guidelines. the loan file contained a lease extension with a termination date of XX/XX/XXXX for the property located at XXXX. A copy of the actual lease was not present in the loan file, only the extension. The extension specified that the tenant must vacate the property by the termination date. An additional extension is missing from the loan file, reflecting a present and active term. The lease did not indicate a month-to-month transition after the lease expiration and an extension or renewal of the lease was not present in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2167963

4 of 4

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file did not contain a secondary valuation product for the following properties: XXXX & XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165590

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165590

2 of 4

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan file was missing current hazard insurance policy on the subject property. The loan file contained an insurance quote for the subject property; however, an actual binder or Accord was not present in the loan file to reflect sufficient dwelling coverage, rent loss coverage, all perils.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached dec page.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165590

3 of 4

XXXX

Credit

Income - Rental Property/Missing Lease

XXXX

The loan file contained a lease dated XX/XX/XXXX; however, the lease did not indicate a term for beginning and expiration of the lease.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165590

4 of 4

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, or 2nd appraisal to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165591

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165591

2 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The loan file is missing all entity documentation for the borrowing entity XXXX (Operating Agreement, Articles of Incorporation, EIN). Noted, the loan review file contained the Operating Agreement; however, this is missing as well as the EIN and Articles of Organization. Finding made in prefund review. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165591

3 of 4

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The mortgage history in the loan file was incomplete or missing. The payment history for the mortgage being paid off with subject loan, XXXX, is missing from the file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165591

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2177444

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177444

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See email from insurance agent confirming all perils.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177444

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175655

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2175655

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175655

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2165592

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165592

2 of 3

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The maximum LTV allowed for a purchase transaction with a qualifying FICO of XXXX and DSCR of XXXX is XXXX%. The subject loan closed with an LT of XXXX%, which exceeds the maximum.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached updated credit score - report was run on XXXX/XXXX prior to closing. FICO is at a XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165592

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2169795

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2169795

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169795

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2177446

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177446

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177446

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2175658

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175658

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175658

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2169796

1 of 4

XXXX

Compliance

HMDA - Government Monitoring

XXXX

The Government Monitoring Section on the application was not completed for the race section. Home Mortgage Disclosure Act (Regulation C) 12 CFR 1003.4(b) Equal Credit Opportunity Act (Regulation B) 12 CFR XXXX

Acknowledged

XXXX

2169796

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX prepayment term for loans for individuals when the loan amount is less than$XXXX for a XXXX-XXXX Unit property, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months.

Acknowledged

XXXX

2169796

3 of 4

XXXX

Credit

Appraisal - Other

XXXX

Guidelines require a standard rating of the subject property (XXXX) be reflected on the appraisal. The appraisal reflects rating as average. The CDA dated XX/XX/XXXX in the loan file reflects a condition of C4. The guidelines require a C4 condition for Rental loans are only eligible for Purchase, Rate & Term, and Delayed Purchase transactions. The subject transaction is a cash-out refinance which does not meet the requirements of C4 condition.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached email with confirmation from the investor stating they are XXXX with subject property being in C4 condition on a cash-out.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX with both units rented. Credit XXXX. XXXX years of experience. Proceeds being used to make property updates.

XXXX

2169796

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2169794

1 of 3

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider(s) / Legal Addendum(s) are missing: XXXX-XXXX Family Rider. Page XXXX of the Security Instrument indicates a XXXX-XXXX Family Rider is to be include but the XXXX-XXXX Family Rider was not in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See PTP conditions.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2169794

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169794

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2174702

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174702

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174702

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174701

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174701

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174701

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165594

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165594

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165594

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2177447

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177447

2 of 3

XXXX

Credit

Assets - Source

XXXX

Access to the following accounts was not documented in the loan file: XXXX **XXXX, XXXX **XXXX, XXXX **XXXX, XXXX **XXXX, XXXX **XXXX, XXXX ***XXXX and XXXX **XXXX. A copy of the operating agreement reflecting percentage of ownership for the entities XXXX, XXXX, XXXX, XXXX and XXXX is required to evidence access to accounts.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177447

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2165595

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165595

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165595

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2169793

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of (XXXX) allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months.

Acknowledged

XXXX

2169793

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169793

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2163931

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163931

2 of 4

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2163931

3 of 4

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Missing Lease agreement or not complete per guidelines. Per guidelines if the property is tenant occupied prior to funding, copies of the lease agreements are required. The subject appraisal and pictures reflect the property as tenant occupied, however the loan file did not contain copies of the lease agreements for either unit.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2163931

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2177445

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177445

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177445

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2174703

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174703

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174703

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2175660

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175660

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175660

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2167964

1 of 4

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider(s) / Legal Addendum(s) are missing: XXXX, XXXX-XXXX Family Rider, Business Loan Rider, SFR Entity Borrower Rider, and Business Purpose & Environmental Rider.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2167964

2 of 4

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

Guidelines require XXXX months of market rent loss insurance coverage (XXXX), which is not documented in the loan file. Noted, finding also made on prefund review.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See EOI for loss of use coverage up to $XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2167964

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

The XXXX on the appraisal is XXXX; therefore, the appraisal is considered a transmittal appraisal. Guidelines require a letter from XXXX meeting the requirements per guidelines and this letter is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2167964

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2175656

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175656

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175656

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2174704

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174704

2 of 3

XXXX

Credit

DSCR - Missing HUD

XXXX

The file is missing a final HUD that supports $XXXX funds to close (per receipt for funds). The file contains only an estimated CD and an estimated Settlement Statement that indicates numbers are subject to change.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached final settlement statement.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2174704

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2179929

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179929

2 of 4

XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The guidelines require that C4 condition for Rental loans are only eligible for Purchase, Rate & Term, and Delayed Purchase transactions. The appraisal for the subject property reflects the condition to be rated C4. According to the subject transaction HUD-XXXX settlement statement the subject transaction was a cash-out refinance with the borrower receiving $XXXX in cash. As the subject transaction is a cash-out refinance with a C4 condition, the transaction is not allowed.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached GL exception approved by investor.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. Experienced Investor.

XXXX

2179929

3 of 4

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Guidelines require a fully executed current lease agreement when property is leased prior to funding. The file contains a lease on the subject property, covering the period from XX/XX/XXXX to XX/XX/XXXX; however the amount of monthly rent has been left blank. The appraisal indicates the subject is being leased for $XXXX/month for the same period. Corrected lease to be provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached lease with rental amount included.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2179929

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175657

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the Alta 1 Closing Statement provided in the loan file was the FINAL binding XXXX Closing Statement. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2175657

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175657

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2177448

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment penalty test. XXXXXXX § 1343.011(C)(1)) A prepayment penalty may be provided on residential mortgage obligations not in excess of XXXX per cent of the original principal amount of the residential mortgage. The loan has a XXXX% penalty.

Acknowledged

XXXX

2177448

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177448

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175661

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175661

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The title is currently vested in the entity "XXXX"; however, the operating agreement or equivalent to evidence the borrower's membership is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached entity docs for XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175661

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175659

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175659

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175659

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2179930

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179930

2 of 5

XXXX

Credit

Appraisal - Appraisal Missing

XXXX

The rental comparable pictures are missing from the appraisal.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This is because there is no #XXXX or #XXXX comparable. Appraiser only used XXXX comps. See page XXXX of XXXX. Please waive.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See attached updated appraisal

Response 1 (XX/XX/XXXX XX:XXAM)
Rent comp photo for XXXX is missing. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179930

3 of 5

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The loan file did not contain a copy of the certificate of good standing as required for the entity known as XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX does not address defect. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179930

4 of 5

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The mortgage payment history with XXXX paid off with the subject transaction is missing from the file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2179930

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175628

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175628

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches for the borrower and entity are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175628

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2139940

1 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: Exhibit C of the Loan Agreement is missing the Description of the Property.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
SEE ATTACHED.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2139940

2 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the Lender.

Acknowledged

XXXX

2139940

3 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. There are two owners of the LLC and both are XXXX% owner. Missing the application, credit report and signed guaranty agreement for the second owner XXXX. Guaranty agreement in file is only in the name of XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
SEE ATTACHED EXCEPTION AND GUARANTY SIGNED ON THE LAST PAGE BY XXXX XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Guarantee Agreement provided and XXXX to accept that without the other required documents based on compensating factors. (Waived)

Comp factors - XXXX and Reserves $XXXX.

XXXX

2139940

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The loan file is missing documents XXXX days bank statements to verify assets. AHL guidelines state assets need to be seasoned for XXXX days. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
SEE ATTACHED ASSETS

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2139940

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2180127

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180127

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for "allow for appraisal to be good thru XXXX/XXXX as it was ordered thru XXXX ." Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Determined non-material based on compensating factors (waived).

comp factors: XXXXXXXX over XXXX years at primary residence

XXXX

2180127

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for allow XXXX months proof of rent and security deposit to use th lease agreement for the dscr calculation with the lease agreement reflects higher rents than form XXXX/XXXX ." Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Determined non-material based on compensating factors (waived).

comp factor over XXXX years for primary residence XXXXXXXX

XXXX

2180127

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175641

1 of 7

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums is missing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2)

Acknowledged

XXXX

2175641

2 of 7

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175641

3 of 7

XXXX

Credit

4506-T - Missing/Obtainable

XXXX

A signed IRS form XXXX-C is missing from the file as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXXt form uploaded

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175641

4 of 7

XXXX

Credit

Borrower - Residency Alien Documentation

XXXX

The application reflects the borrower as permanent resident alien; however, the file contains no evidence documenting the status as outlined in the guidelines on permanent residents.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
green card uploaded

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175641

5 of 7

XXXX

Credit

Condo - Other

XXXX

Lender exception provided for condo square footage XXXX versus the required minimum square footage of XXXX per the matrix. Determined non-material based upon compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Determined non-material based upon compensating factors (waived).

Compensating factors: XXXX versus required XXXX; Reserves XXXX months when reserves are not required.

XXXX

2175641

6 of 7

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

Subject condominium. Review of both the master property insurance and liability insurance appears does not contain Fidelity of Employee Dishonesty Insurance as the project consists of more than XXXX units as required by the guidelines on condominiums.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ins uploaded

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175641

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171264

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX month prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months.

Acknowledged

XXXX

2171264

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171264

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2139958

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2139958

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2139958

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2144899

1 of 6

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2144899

2 of 6

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The vesting reflected on the title report reflects the property held in Series XXXX, a separate series of XXXX. A deed transferring ownership interest from Series XXXX, a separate series of XXXX to XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The Curative deed as written is sufficient to transfervesting from Series XXXX as existing title showed into XXXX. However, the mortgage itself still requires correction. Pageone of the mortgage still reflects Series XXXX as the new vesting which shouldinstead reflect XXXX group. Corrections to page XXXX require borrower initials tothe change.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2144899

3 of 6

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower's name on page XXXX of the Security Instrument is inconsistent with the Note. The borrower is XXXX however the vesting reflects Series XXXX, a separate series of XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Corrective Deed.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Recorded WD and Corrective DOT to clear vesting discrepancy

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The Curative deed as written is sufficient to transfer vesting from Series XXXX as existing title showed into XXXX. However, the mortgage itself still requires correction. Page one of the mortgage still reflects Series XXXX as the new vesting which should instead reflect LBC group. Corrections to page XXXX require borrower initials to the change. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2144899

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport for all guarantors. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX and XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2144899

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for " allow for LTV XXXX%." Determined non-material based on compensating factors (waived).

Waived

comp factors DSCR XXXX experienced

XXXX

2144899

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a cda XX/XX/XXXX which support the appraised value.

Cleared

XXXX

2139916

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2139916

2 of 3

XXXX

Credit

Program Parameters - Cash-Out Amount

XXXX

XXXX provided for "Cash-out amount > $XXXXk for loan amount > $XXXX." Determined non-material based on compensating factors (waived).

Waived

Compensating Factors: XXXX XXXX, XXXX months PITI Reserves

XXXX

2139916

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2166784

1 of 3

XXXX

Compliance

Compliance Finding - Missing Business Purpose Documentation

XXXX

There are additional XXXX. Missing the following Business purpose documentation: Acceptable cash-out reason. The Borrower disclosed on the Certification of Business Purpose document that the proceeds would be used for stocks which is not an acceptable use of proceeds for a Business Purpose transaction.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LOE

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Updated LOE from borrower to specifically state what the proceeds will be used for. Please rush review. This is an XXXX priority loan.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is not sufficient to clear the finding. The LOE provided does not explain what the proceeds of the loan are being used for; unable to determine if being used for business or consumer use. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2166784

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2166784

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2180126

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180126

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Borrower XXXX was XXXX%/XXXX% owner of the borrowing entity,XXXX. with a non-borrower, Amber XXXX. Lender guidelines require a Personal Guaranty to be signed by one or more owners representing a majority ownership (XXXX%). The loan file contained XXXX signed the borrower And a Personal Guaranty signed by Amber XXXX. However, since the loan file has a Personal Guaranty Signed by Amber XXXX all the rest of the documentation is required. The loan file did not contain XXXX) a limited application that includes name, address, date of birth, social security number, and citizenship XXXX) authorization for credit report XXXX) background check including liens and judgments. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Documentation uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180126

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2171266

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171266

2 of 3

XXXX

Credit

Credit Report - Aged

XXXX

The loan file contains a lender exception to allow a credit report to be over the XXXX maximum that guidelines require. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (waived).

Compensating factors: DSCR >XXXX, XXXX+ mons PITI

XXXX

2171266

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171263

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171263

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171263

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports a appraised value.

Cleared

XXXX

2174687

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174687

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174687

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174686

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174686

2 of 4

XXXX

Credit

Assets - Cash to Close

XXXX

The file did notcontain evidence that the borrower had the proper amount of funds required to close. The bank statement the lender used was dated XX/XX/XXXX XXXX Checking # XXXX, however, there is a more current statement dated XX/XX/XXXX. Funds to close for a amount that is short $XXXX. Provide current XXXX-month bank statements for funds to close. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached April statement

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2174686

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow the borrower with a Fico XXXX to finance to XXXX% LTV. AHL guidelines for purchase transaction maximum LTV XXXX% with a fico XXXX, AHL guidelines require a XXXX plus fico score to finance XXXX%. Determined non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: XXXX score XXXX, years at present address four plus, DSCR greater than XXXX%.

XXXX

2174686

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171262

1 of 6

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2171262

2 of 6

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Prepayment Rider is present and complete; however, page XXXX of the Mortgage (Section H "Riders") is not marked with a Prepayment Rider as being attached. Please provide a revised mortgage document, which includes the necessary corrections on page XXXX. The borrower is required to initial the changes made.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
PPP to the Note

Response 1 (XX/XX/XXXX XX:XXAM)
Finding voided.

XXXX

2171262

3 of 6

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2171262

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform Google searches of the XXXX and Entity. The required Google searches for both the XXXX and Entity are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
SEE ATTACHED Google Search

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171262

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided to allow cash out refi for property listed as rural. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Determined non-material based on compensating factors (waived).

Compensating Factors: XXXX+ year credit history, Experienced Investor

XXXX

2171262

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168053

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168053

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168053

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied.

Cleared

XXXX

2175640

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175640

2 of 3

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

Loan closed XX/XX/XXXX. Guidelines require mortgage payments to have been made in the month prior to the note date. The VOMs on the primary residence, one in the amount of $XXXX held by XXXX and one in the amount of $XXXX held by XXXX, reflect next payment due XX/XX/XXXX. The XX/XX/XXXX has not been made to bring loans current as defined by the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached The VOM package includes verification of the monthly payments for the $XXXXk loan and check confirming the May payment.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175640

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171261

1 of 7

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2171261

2 of 7

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The Prepayment Rider is present and complete; however, page XXXX of the Mortgage (Section H "Riders") is not marked with a Prepayment Rider as being attached. Please provide a revised mortgage document which includes the necessary corrections on page XXXX. The borrower is required to initial the changes made.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPP addendum to Note.

Response 1 (XX/XX/XXXX XX:XXPM)
Finding voided.

XXXX

2171261

3 of 7

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PER THE BROKER-We didn&#XXXX;t provide a Prepayment rider to the Mortgage, we provided a Prepayment to the Note. Therefore, page XXXX does not need to be corrected on either loan.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
please see attached quit claim deed

Response 1 (XX/XX/XXXX XX:XXPM)
The information provided is not sufficient to clear the finding. The PPP rider to the Mortgage has been voided. The Quit Claim deed needs to be provided to ensure proper vesting. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2171261

4 of 7

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX month prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months.

Acknowledged

XXXX

2171261

5 of 7

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform Google searches of the XXXX and Entity. The required Google searches for both the XXXX and Entity are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
SEE ATATCHED - XXXX Search

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171261

6 of 7

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided to allow cash out refi for property listed as rural. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Determined non-material based on compensating factors (waived).

Compensating Factors: XXXX+ year credit history, Experienced Investor

XXXX

2171261

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Cleared

XXXX

2171260

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171260

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171260

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171259

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171259

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171259

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171258

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171258

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171258

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168052

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168052

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. The loan file was missing the liability coverage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This is a cash out refi; and we have enough assets to cover liability. Additionally, per binder attached, we have RCE coverage.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168052

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171257

1 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Per the broker-This loan did not close in an entity but as an individual. Therefore, we should not need a Loan Agreement or a Guaranty. Kindly clear both of these conditions.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
we do not require a prepayment rider to the mortgage – all we need is the prepayment addendum to the note which we have

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Please review the loan agreement

Response 1 (XX/XX/XXXX XX:XXPM)
What Prompts the requirement of a Loan Agreement is when the Note lists it as included as part of the Note; like an addendum. The Note states that a Loan Agreement was executed and made a part of the Note. Therefore, the XXXX is required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Client submitted in error. Please re-submit rebuttal. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2171257

2 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Loan Agreement was not executed by the Lender. (Acknowledged)

Acknowledged

XXXX

2171257

3 of 5

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The Prepayment Rider is missing. Please provide the executed rider and a revised mortgage document, which includes the necessary corrections on page XXXX. The borrower is required to initial the changes made.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
we do not require a prepayment rider to the mortgage – all we need is the prepayment addendum to the note which we have

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Information provided.

Response 1 (XX/XX/XXXX XX:XXPM)
Client submitted in error. Please re-submit rebuttal. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2171257

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171257

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2168051

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan has a prepayment term. (XXXX. Comp. XXXX §438.31c(XXXX)(c) Under XXXX. Comp. XXXX §438.31c(XXXX)(c), a loan secured by a single-family dwelling unit shall not charge a prepayment fee or penalty in excess of XXXX% of the amount of any prepayment made within XXXX years of the date of the loan, or any prepayment fee or penalty at all thereafter, or prohibit prepayment at any time. This restriction does not apply to loans insured or guaranteed by the federalgovernment or by any agency of the federal government.

Acknowledged

XXXX

2168051

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches for both entities are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
google search borrower, entity

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2168051

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175639

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Loan Agreement is missing exhibit C.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the attached agreement.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175639

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175639

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX6 which supports appraised value.

Cleared

XXXX

2175627

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175627

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: XXXX) A limited application that includes their name, address, date of birth, social security number, and citizenship XXXX) An authorization to obtain a credit report and background report XXXX) Identification documentation as in a driver's license, passport, or similar. The loan file is missing the required documentation for XXXX (XXXX% ownership of XXXX).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175627

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175627

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175626

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175626

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175626

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175626

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which is supports the appraised value.

Cleared

XXXX

2175638

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175638

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175638

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied.The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174685

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Upheld

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is not sufficient to clear the finding. The Closing Statement provided is signed by the borrowers; however, it is not dated by the borrowers and the document does not disclose a date or stamped as True and Certified. Unable to determine if the document is the Final HUD. (XXXX)

XXXX

2174685

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX month prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months.

Acknowledged

XXXX

2174685

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided to allow change in operating agreement after application date. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors.

Compensating Factors: Favorable DSCR greater than XXXX, XXXX

XXXX

2174685

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171256

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171256

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for " allow subjects roof to be insured with actual cash value loss coverage ." Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

comp factors dscr XXXX ltv XXXX experienced investor

XXXX

2171256

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2168050

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168050

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168050

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171255

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171255

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171255

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174684

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174684

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174684

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171254

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171254

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171254

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171253

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171253

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171253

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168049

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168049

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow financing to a borrower with XXXX months investor experience and no primary residence ownership experience. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (waived).

Compensating Factors: DSCR >XXXX, FICO XXXX points greater than min required

XXXX

2168049

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171252

1 of 6

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171252

2 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: XXXX) A limited application that includes their name, address, date of birth, social security number, and citizenship XXXX) A signed authorization to obtain a background report XXXX) Identification documentation as in a driver's license, passport, or similar. The loan file is missing the required documentation for XXXX XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2171252

3 of 6

XXXX

Credit

Liabilities - Mortgage Payment History

XXXX

The file contains a lender exception for 2x30x12 mortgage lates on the subject. Determined non-material based on compensating factors. (waived)

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Determined non-material based on compensating factors. (waived)

Compensating Factors: DSCR XXXX, LTV is XXXX% less than max LTV allowed, XXXX+ active tradelines with no lates

XXXX

2171252

4 of 6

XXXX

Credit

Program Parameters - Credit Score

XXXX

The file contains a lender exception for adding XXXX XXXX as a guarantor to strengthen loan but not use his credit XXXX which does not qualify. Determined non-material based on compensating factors. (waived)

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Determined non-material based on compensating factors. (waived)

Compensating Factors: DSCR XXXX, LTV is XXXX% less than max LTV allowed, XXXX+ active tradelines with no lates

XXXX

2171252

5 of 6

XXXX

Credit

Program Parameters - Other

XXXX

The file contains a lender exception for subject location is rural. Determined non-material based on compensating factors. (waived)

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Determined non-material based on compensating factors. (waived)

Compensating Factors: DSCR XXXX, LTV is XXXX% less than max LTV allowed, XXXX+ active tradelines with no lates

XXXX

2171252

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2178718

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178718

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2178718

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value .

Cleared

XXXX

2174683

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174683

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174683

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2174682

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174682

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174682

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file has a CU score XXXX.

Cleared

XXXX

2174681

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174681

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174681

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU score of XXXX

Cleared

XXXX

2174680

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174680

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174680

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180125

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180125

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180125

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2164813

1 of 5

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2164813

2 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement was not executed by the lender.

Acknowledged

XXXX

2164813

3 of 5

XXXX

Credit

Appraisal - Other

XXXX

The loan file contains a lender exception to allow financing in a "blighted" area appraiser states no negative impact. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (waived).

Compensating factors: DSCR >XXXX, Experienced investor

XXXX

2164813

4 of 5

XXXX

Credit

DSCR - Missing background check

XXXX

Per the guidelines, a background check is required on the entity through either a full background search or a Fraud guard Report along with a XXXX lien and judgment search. The file does not contain either search option for the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2164813

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2174679

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2174679

2 of 3

XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters for Property Type. The subject loan was delivered as a cash out refinance of a XXXX unit property. The origination appraisal indicated unit XXXX was XXXX square feet and unit XXXX was XXXX square feet. Lender guidelines require XXXX-XXXX unit properties to have a minimum square footage of XXXX per unit. The subject property did not meet program parameters.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. XXXX DSCR.

XXXX

2174679

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supported the appraised value.

Cleared

XXXX

2171226

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171226

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171226

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168048

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168048

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168048

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171251

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171251

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

Per the guidelines, all guarantors must provide the following: XXXX) A limited application that includes their name, address, date of birth, social security number, and citizenship XXXX) A signed authorization to obtain a credit report and background report XXXX) Identification documentation as in a driver's license, passport, or similar. The file is missing the required documentation for XXXX (XXXX% ownership of LLC).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached guarantor package for Irbing

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2171251

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. the loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180124

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180124

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

.According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport for all guarantors. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX and XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached are the requested guarantor docs.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180124

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175637

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175637

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175637

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168047

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168047

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168047

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171250

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171250

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171250

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports a appraised value.

Cleared

XXXX

2168046

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168046

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168046

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171249

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171249

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The loan file is missing full background for liens and judgement for enitiy.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171249

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Request to revisit. XXXX is the borrower&#XXXX;s spouse.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2171249

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180123

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180123

2 of 3

XXXX

Credit

Interested Party Contribution - Exceeds

XXXX

The Interested Party Contributions exceed allowable guidelines and cause the recalculated LTV to increase above program maximum allowed. The lender's guidelines reflect the maximum interested party contribution for a loan with an LTV over XXXX% is XXXX%. The loan was approved with an XXXX% LTV. The final HUD reflects seller contributions of $XXXX; however, the maximum allowed is $XXXX (sales price $XXXX x XXXX%). The adjusted LTV due to excessive concessions is XXXX% which exceeds the guideline maximum LTV of XXXX%.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: DSCR < XXXX, FICO is XXXX points greater than minimum required, repeat AHL client

XXXX

2180123

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2168045

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168045

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for " allow to approve the ltv of XXXX % with a fico of XXXX ." Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

comp factors experienced investor and repeat client fico XXXX

XXXX

2168045

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171248

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171248

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171248

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2174678

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174678

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174678

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171247

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171247

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171247

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. the loan file contain a CU score XXXX.

Cleared

XXXX

2178717

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178717

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines funds held by a member to an entity who will not be a borrower but will be a guarantor are eligible. The assets provided in the loan file are held by the non borrowing member XXXX; however, no guaranty was provided for XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
heloc for assets. attached statement

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2178717

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to the transaction history provided in the loan file for our review the borrower has had several XXXX day late payments within the last XXXX months and does not meet guideline requirement of XXXX XXXX day late in the last XXXX months. No exception was provided.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. Experienced Investor. XXXX% LTV.

XXXX

2178717

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2174677

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The current executed QCD has been completed inaccurately for transferring of ownership. QCD has the grantor as 'XXXX whereas the Title has vesting as 'XXXX XXXX'.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Quit claim deed

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2174677

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174677

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, supportive of value.

Cleared

XXXX

2168044

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168044

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168044

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175625

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175625

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175625

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171246

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171246

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171246

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2174676

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan has a prepayment term. (XXXX. Comp. XXXX. §438.31c(XXXX)(c)Under XXXX. Comp. XXXX §438.31c(XXXX)(c), a loan secured by a single-family dwelling unit shall not charge a prepayment feeor penalty in excess of XXXX% of the amount of any prepayment made within XXXX years of the date of the loan, or any prepayment fee orpenalty at all thereafter, or prohibit prepayment at any time.

Acknowledged

XXXX

2174676

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174676

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX.

Cleared

XXXX

2171244

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171244

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171244

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided to allow rural property due to comparable sales that are XXXX miles away. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: DSCR over XXXX, experienced investor

XXXX

2171244

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

CDA did not support original appraised value within -XXXX% but client guidelines allow the lower of the valuation value to be used. Per the rating agencies this is allowed but would be an EV2 grade.

Cleared

XXXX

2174675

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174675

2 of 3

XXXX

Credit

Program Parameters - Cash-Out Amount

XXXX

The subject loan exceeds the Program Parameters for cash out amount. The subject loan was delivered as a XXXX% LTV/CLTV cash out refinance, with the borrower receiving cash proceeds of $XXXX at closing. The borrower had a XXXX qualifying credit score, and lender guidelines state the maximum cash out is $XXXX for borrowers with a credit score between XXXX and XXXX and an LTV greater than XXXX%. The subject loan does not meet program parameters.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
exception

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2174675

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168043

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168043

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required entity background search for the entity, XXXX, LLC, to include liens and judgments search. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background entity uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2168043

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175636

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175636

2 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for " allow financing to continue in a project that has a Right of First Refusal dee restriction ."Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

comp factors XXXX excessive reserves over XXXX months

XXXX

2175636

3 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for "allow for project currently involved in litigation requirement management review and approval " Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

comp factors XXXX excessive reserves over XXXX months

XXXX

2175636

4 of 5

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX coverage is listed in the remarks section of the attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175636

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports appraised value.

Cleared

XXXX

2178716

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178716

2 of 3

XXXX

Credit

Program Parameters - Property Type

XXXX

Per the appraisal, title report, and the PUD information provided the subject property is located within a PUD (project unit development) but the loan closed as a single family residence; There was no XXXX located within the loan file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
SEE ATTACHED MORTGAGE WITH RIDERS

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2178716

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171243

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171243

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171243

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174674

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174674

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Per the guidelines, a background check to include a judgment and XXXX search is required for the borrowing entity. The loan file contains a background report for XXXX; however, the borrowing entity name is XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2174674

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171242

1 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The notary did not acknowledge if the signing occurred by someone 'personally know' or 'proved to them on the basis of satisfactory evidence to be the person who appeared before them' on the loan agreement.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX correction

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2171242

2 of 5

XXXX

Credit

Appraisal - Repairs

XXXX

The subject property is uninhabitable per appraiser photo comments, and only a $XXXX adjustment for XXXX outbuildings. But the outbuildings are the only habitable portions of the subject property. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please identify the specific photo(s) and appraiser commentary that support the conclusion that the primary dwelling is uninhabitable and that the outbuildings constitute the habitable living area. The appraiser narrative states Average-condition, habitable single-family residence; however, the reviewer is stating the property is uninhabitable and only the outbuildings are the only habitable portions of the subject property.

Response 1 (XX/XX/XXXX XX:XXPM)
Apologies. Uninhabitable is not correct verbiage. The verbiage should have been non-residential only for the converted office space. (Resolved)

XXXX

2171242

3 of 5

XXXX

Credit

Assets - Cash to Close - Evidence of Liquidation

XXXX

Funds required for subject closing were $XXXX ($XXXX POC + $XXXX funds due at closing + $XXXX reserves). Assets were verified in the amount of $XXXX ($XXXX in liquid assets + $XXXX in reserves). Guidelines require verification of liquidation on any retirement accounts being used as funds to close but it could not be located within the loan file causing a shortage of $XXXX. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
terms of withdrawal

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
exception for liquidated funds

Response 1 (XX/XX/XXXX XX:XXAM)
Liquidation of funds to close is required. Then, XXXX% of the remaining balance is available for required reserves. If shortage still exists after withdrawal and the XXXX% reserve application, additional funds will be required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. Experienced Investor. XXXX% LTV

XXXX

2171242

4 of 5

XXXX

Credit

Program Parameters - Property Type

XXXX

The subject property is rural; XXXX state this is an unacceptable property type.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
exception

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. Experienced Investor. XXXX% LTV.

XXXX

2171242

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175605

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175605

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175605

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan files contains a CDA dated XX/XX/XXXX which supports the appraisal value.

Cleared

XXXX

2171241

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171241

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171241

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180122

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180122

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180122

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2180121

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180121

2 of 5

XXXX

Credit

Appraisal - Other

XXXX

The CDA provided in the loan file does not show the property address.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2180121

3 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security number and citizenship. Additionally, an authorization for a credit report and background report as well as Identification documentation such as driver's license or passport are required for all guarantors. The loan file did not contain any of this documentation for the non-borrowing guarantor, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2180121

4 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow XXXX with an LTV at XXXX%. XXXX non material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non material based on compensating factors (Waived).

Compensating Factors: XXXX, owns XXXX other rental properties for XXXX months. Excess reserves.

XXXX

2180121

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2180120

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180120

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2180120

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow XXXX with an LTV at XXXX%. XXXX non material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non material based on compensating factors (Waived).

Compensating Factors: XXXX, excess reserves, owns other rentals for XXXX months.

XXXX

2180120

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supported the appraised value.

Cleared

XXXX

2171240

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171240

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guidelines state the purchase of an investment property using the XXXX, that the subject property cannot be within XXXX miles of the where the borrower is currently living rent free. Per the MapQuest located within the loan file the subject is less than XXXX mile from the borrowers’ primary residence.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception uploaded

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: DSCR >XXXX, FICO XXXX points higher than min required

XXXX

2171240

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow cash-out financing to a borrower living rent free and only has XXXX months investor experience. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (waived).

Compensating Factors: DSCR >XXXX, FICO XXXX points higher than min required

XXXX

2171240

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175635

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175635

2 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Clear to Close indicates that a Prepayment Penalty applies to this loan, however there is no Prepayment Addendum to the Note.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175635

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175635

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171239

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171239

2 of 4

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The Final XXXX ha an account for UK FCU # XXXX Proceeds of funds to close in the amount of $XXXX. The file contains no documentation for this account nor if it is proceeds from another loan no documentation in the file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached - last page showing $XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171239

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow LTVof XXXX%. AHL guidelines requirement for first time investor maximum LTV of XXXX%. Determined non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: XXXX score XXXX, borrower has owned his primary residence for XXXX years and the DSCR is greater than XXXX.

XXXX

2171239

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171238

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171238

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171238

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171237

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171237

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for " allow co insurance ." Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

comp factors dscr XXXX fico XXXX primary residence over XXXX years

XXXX

2171237

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180119

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180119

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Borrower XXXX was XXXX%/XXXX% owner of the borrowing entity,XXXX. with a non-borrower, Amber XXXX. Lender guidelines require a Personal Guaranty to be signed by one or more owners representing a majority ownership (XXXX%). The loan file contained XXXX signed the borrower And a Personal Guaranty signed by Amber XXXX. However, since the loan file has a Personal Guaranty Signed by Amber XXXX all the rest of the documentation is required. The loan file did not contain XXXX) a limited application that includes name, address, date of birth, social security number, and citizenship XXXX) authorization for credit report XXXX) background check including a search for liens and judgments. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Documentation uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180119

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2168042

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168042

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168042

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174673

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174673

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow XXXX% LTV. AHL Guidelines requirement maximum LTV XXXX% wtih a fico XXXX. Determined non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: Experienced Investor, DSCR is over .XXXX%, and additional XXXX bps to rate for the exception.

XXXX

2174673

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174672

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174672

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174672

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175634

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175634

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175634

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175633

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175633

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175633

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2168041

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168041

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required entity background search for the entity, XXXX, LLC, to include liens and judgments search. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2168041

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171236

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171236

2 of 3

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The mortgage history in the loan file was missing for the primary residence XXXXast Moriches XXXX XXXX. Mortgage ratings are required for the primary residence. Need to verify if taxes and insurance are included in the mortgage payment and if primary residence is current on the mortgage. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
prop is free and clear. per borrower. attached is insurance showing no XXXX. attached tax cert as well.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2171236

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2168040

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168040

2 of 4

XXXX

Credit

Borrower - Identification

XXXX

The spouse is required to sign the Guaranty Agreement the borrowers live in XXXX which is a community property state. The spouse signed the Guaranty but the XXXX for the spouse XXXX could not be located within the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168040

3 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168040

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2174671

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is not sufficient to clear the finding. The HUD provided was in the original loan file and cannot be determined to be final. Please provide an executed HUD or stamped as True and Certified. (Acknowledged)

XXXX

2174671

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174671

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171225

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171225

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Borrower XXXX is XXXX%/XXXX% owner of the borrowing entity, XXXX XXXX LLC, with a non-borrower, XXXX. Lender guidelines require a Personal Guaranty to be signed by one or more owners representing a majority ownership (XXXX%). The loan file contained the signed Personal Guaranty by both guarantors as required. However, the loan file did not contain XXXX) a limited application that includes name, address, date of birth, social security number and citizenship XXXX) authorization for credit report and XXXX) background check to include liens and judgment search for the non-borrowing guarantor, XXXX as required. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171225

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception that was approved to make the borrower manager of the entity when prior the guarantor was the manager. The prior manager is signing the loan a guarantor. Determined non-material based on compensating factors (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: DSCR greater than XXXX%, fico score XXXX, borrower has lived in primary residence for XXXX plus years.

XXXX

2171225

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174670

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174670

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174670

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180118

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180118

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180118

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU score of XXXX.

Cleared

XXXX

2178715

1 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The Notary Acknowledgment states that 'XXXX appeared before them, however, the agent 'XXXX is the signee as POA.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding.(Resolved)

XXXX

2178715

2 of 4

XXXX

Compliance

Security Instrument - Power of Attorney Missing

XXXX

There is an individual on the Security Instrument who signed as an agent under a Power of Attorney but the Power of Attorney is not signed or notarized.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding.(Resolved)

XXXX

2178715

3 of 4

XXXX

Credit

Power of Attorney

XXXX

The XXXX provided in the loan file for our review was not fully executed or notarized. Additionally, guidelines require an expiration date and no expiration date was indicated on the POA.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Documentation uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2178715

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2174669

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174669

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174669

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175623

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175623

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches for the borrower and entity are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175623

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2180117

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180117

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow changes to member percentage of ownership from XXXX% to XXXX% after the initial application date which requires management approval. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (waived).

Compensating factors: DSCR >XXXX, Experienced Investor

XXXX

2180117

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2174668

1 of 3

XXXX

Compliance

HUD1 - Incomplete

XXXX

The settlement statement is incomplete. The final ALTA statement missing Page. XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2174668

2 of 3

XXXX

Credit

Assets - Large Deposits/Unacceptable

XXXX

The borrower's XXXX #XXXX has a large deposit in the amount of $XXXX wired on XX/XX/XXXX that was not adequately sourced. Per the guidelines large deposits are defined as any single deposit that is more than XXXX% of the average total monthly deposits and will require additional information to support the deposit. A letter of explanation with details to the deposit source is required along with one of the following: a copy of the check from the banking institution, bank statement for transfers and or settlement statement.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Request to revisit. See the attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2174668

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2168039

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168039

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168039

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2171235

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2171235

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171235

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174667

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174667

2 of 3

XXXX

Credit

Appraisal - Other

XXXX

The XXXX provided was illegible and missing pertinent information.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2174667

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175632

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175632

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google search for entity XXXX XXXX, is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
google search for entity uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175632

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175622

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The notary acknowledgement is missing from the Mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175622

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided to allow escrow waiver for borrower with less than XXXX. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (waived)

Compensating Factors: Favorable DSCR XXXX, Repeat AHL Client

XXXX

2175622

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2175631

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175631

2 of 5

XXXX

Credit

Debts - Not Verified

XXXX

The borrower's investment property XXXX is reflected on the final application with a mortgage payment of $XXXX and additional housing expense of $XXXX. The loan file is missing documents needed to verify the total housing obligation. Please provide all documents (Mortgage Stmt, HOI Policy, XXXX, XXXX, Final HUD-XXXX if recently purchased) needed to support the total housing payment of $XXXX as shown on the final application.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The property located at XXXX, was refinanced on XX/XX/XXXX - please see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175631

3 of 5

XXXX

Credit

Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google search for the entity is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175631

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The Business Narrative Form in the file reflects XXXX months of business bank statements were provided however there are only XXXX bank statements in the loan file. Please provide the revised corrected copy of the Business Narrative Form that reflects XXXX months of business bank statements provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175631

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2180116

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180116

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for "allow co-insurance to XXXX% on a XXXX property as rural" Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Determined non-material based on compensating factors (waived).

comp factors fico XXXX excess reserves over XXXX months

XXXX

2180116

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU score XXXX

Cleared

XXXX

2175621

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175621

2 of 3

XXXX

Credit

Income - Tax Transcripts Missing

XXXX

Tax Transcripts were not provided as required. Guidelines require W2 tax transcripts. Transcripts for XXXX/XXXX for XXXX are missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175621

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174666

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174666

2 of 3

XXXX

Credit

Program Parameters - Credit Score

XXXX

The borrower's credit scores are below the minimum allowable per guidelines. The loan file contained a lender exception to allow a XXXX credit score when XXXX is the guideline minimum. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: Experienced Investor with XXXX+ investment properties, XXXX months post-closing reserves, XXXX DSCR.

XXXX

2174666

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

he appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU score is XXXX.

Cleared

XXXX

2171234

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171234

2 of 5

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The loan file is short $XXXX. for funds to close. Document XXXX months bank statements for funds to close. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Borrower has XXXX in assets - please see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
$XXXX is required to be documented. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. XXXX DSCR.

XXXX

2171234

3 of 5

XXXX

Credit

DSCR - Missing background check

XXXX

The loan file is missing the required background report including a search for liens and judgments on the entity, XXXX W 7th LLC, must be completed. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171234

4 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Borrower 1 was XXXX%/XXXX% owner of the borrowing entity, XXXX W 7th LLC, with a non-borrower, XXXX XXXX. Lender guidelines require a Personal Guaranty to be signed by one or more owners representing a majority ownership (XXXX%). The loan file contains the signed XXXX by both guarantors as required. However, the loan file did not contain a XXXX) limited application that includes name, address, date of birth, social security number, and citizenship XXXX) authorization for credit report and XXXX) background check that includes liens and judgments for non-borrower, XXXX XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2171234

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175620

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175620

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches for both the borrower and entity are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175620

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2180115

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180115

2 of 4

XXXX

Credit

Credit Report - Other

XXXX

Guidelines require a current mortgage history on the borrower’s primary residence, which is defined per guidelines as all mortgage payments due in the month prior to the note date. The loan file contains a credit report dated XX/XX/XXXX with a date of last activity for the mortgage of XX/XX/XXXX, note date of XX/XX/XXXX. The loan file is missing the latest mortgage account statement from the borrower supporting the XXXX payment.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the attached printout from the borrower&#XXXX;s bank - it shows on the Freedom mortgage payment was made XXXX/XXXX and XXXX/XXXX. The statement attached is showing the loan was due for XX/XX/XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180115

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Per guidelines, if existing lease is being transferred to the borrower, the XXXX must verify that it does not contain any provisions that could affect the first XXXX position of the subject property. Final HUD-XXXX shows a rental adjustment of $XXXX, verifying that lease is being transferred. Existing lease was not provided in loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180115

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2171265

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171265

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171265

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU score of XXXX.

Cleared

XXXX

2174665

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174665

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174665

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2178714

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The XXXX section of the Security Instrument is missing the date.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2178714

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google search for the Entity XXXX, LLC is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
SEE ATTACHED - XXXX Search

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2178714

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175630

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175630

2 of 5

XXXX

Credit

Debts - Not Verified

XXXX

The loan file is missing the verification of mortgage payment for property: XXXX reflected on the final XXXX application with additional housing expense of $XXXX and unpaid balance of $XXXX. Per AHL guidelines if rental history is not reported on the credit report, a VOM/VOR must be provided to verify the total housing obligation. Please provide all documents (Current Mortgage Statement, HOI Policy, XXXX, HOA Statement if any, Final Hud-XXXX if recently purchased needed to support the total housing payment). Additional Conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached for the final HUD. We completed the XXXX for this in XXXX. There is no VOM. His first payment would have been this month. property should have been removed from app.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175630

3 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The loan file Business Narrative for self-Employed borrowers form in the file reflects XXXX months of business bank statements however, there are only XXXX months of bank statements in the loan file. Please provide the revised corrected copy of the Business Narrative Form that reflects XXXX months’ business bank statements. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
business narrative uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175630

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The loan file is missing the required google search of the entity. AHL guidelines state UW to perform a Google Search of the entity. There is a google search in file for the borrower. Please provide the google search for the entity: XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
google search

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175630

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2175618

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175618

2 of 4

XXXX

Credit

Debts - Not Verified

XXXX

The application lists significant debts that were not verified on the credit report and not independently verified. The monthly expense for the property located at XXXX was included in the DTI. The REO reflects a mortgage payment of $XXXX and additional expenses of $XXXX. Per the property profile, $XXXX is the monthly tax amount. The file is missing documentation to confirm the HOI is escrowed or if not escrowed, the monthly payment amount.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX shouldn’t have been on the XXXX. Mistake on our end. We completed the XXXX for that property April. There is no VOM. His first payment would have been this month

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175618

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters. Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google search for the entity (XXXX) is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
google search

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175618

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2171233

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171233

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2171233

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2174664

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174664

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174664

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175617

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175617

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175617

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180114

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

XXXX

2180114

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180114

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180113

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180113

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180113

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175616

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175616

2 of 5

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required for the subject transaction. The borrower was required to evidence $XXXX in reserves. This is in addition to the requirement of $XXXX in funds to close, earnest money and prepaid items. Therefore, the borrower was required to evidence a total of $XXXX in funds for the subject transaction. The loan file only contained evidence of $XXXX in qualifying assets. The loan file contained a receipt that the $XXXX earnest money check had been received; however, the letter was dated XX/XX/XXXX which is after the most recent bank statement available in the file. Evidence of earnest money clearing account and new account balance is required. Without additional evidence, there would be a $XXXX shortage in verified assets.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
On the assets, there’s nothing else to upload. The funds to close plus reserves were documented as follows: XXXX ending in #XXXX balance: $XXXX (verified by bank statemetns for Jan/Feb (also used for income & printout XX/XX/XXXX to XX/XX/XXXX ) Draw on HELOC: $XXXX (Statement shows $XXXX draw and copy of note provided to evidence payment) Re-uploaded to condition IRA: $XXXX (quarterly statement) Total: $XXXX vs. $XXXX funds to close leaving reserves of $XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
SEE ATTACHED.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
We provided a copy of the HELOC note because the draw was taken too close to closing to obtain a new statement. The note clearly states that the payment will be interest only during the first XXXX months (which goes to XXXX) at a rate of Prime + .XXXX%. Thus, based on the balance after the $XXXX draw of $XXXX at XXXX% the monthly payment is $XXXX. They were qualified on much higher $XXXX/XXXX. payment based on them drawing to the line limit of $XXXX as a worst-case scenario. The HELOC note was part of the original upload - please escalate

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation not received. Please provide the HELOC Note with payment. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The last HELOC payment of $XXXX on XX/XX/XXXX6 was based on a $XXXX balance. On XX/XX/XXXX the referenced $XXXX draw was taken. Please provide the new payment based on the total balance of $XXXX. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Explanation and documentation received is sufficient. (Resolved)

XXXX

2175616

3 of 5

XXXX

Credit

Debts - Not Verified

XXXX

Evidence that the primary residence 1st mortgage payment with XXXX includes escrow for taxes and insurance is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
SEE ATTACHED STMT

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175616

4 of 5

XXXX

Credit

Income - Insufficient Documentation

XXXX

The loan file is missing legible copies of the bank statements used for income calculation. The bank statements in the loan file for period ending XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX for the account ending XXXX are illegible. Further, the calculation worksheet used at origination to determine the qualifying income is missing from the loan file. Unable to calculate income at audit. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
SEE ATTACHED BK STMTS-

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175616

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2175614

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175614

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow borrower with a fico XXXX to complete DSCR Financing. AHL guidelines state the minimum fico score required for a DSCR loan program is XXXX minimum. XXXX non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: Reserves greater than XXXX months, DSCR greater than XXXX%, years at present address XXXX and a half.

XXXX

2175614

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2171231

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2171231

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2171231

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2178713

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178713

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2178713

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175629

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Upheld

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The HUD provided is for the XXXX. Please provide the borrowers Final HUD for review. (XXXX)

XXXX

2175629

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175629

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175613

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175613

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for Maximum LTV for NAL is XXXX% approved to XXXX%. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Determined non-material based on compensating factors (waived).

Compensating Factors: XXXX, Favorable DSCR XXXX

XXXX

2175613

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2180112

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180112

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The Guaranty Agreement in file was signed by the borrower XXXX who was XXXX% owner of the borrowing entity, XXXX, and by XXXX, a non-borrowing XXXX% owner of XXXX. XXXX was XXXX% owner of an additional borrowing entity, XXXX. Lender guidelines require all guarantors to complete a limited application that includes their name, address, date of birth, social security number, and citizenship, provide authorization for a credit report and background report, with the guarantors credit score meeting the program minimum qualifying score, and identification documentation. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX, as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180112

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2178712

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178712

2 of 3

XXXX

Credit

Credit - Other

XXXX

The loan meets all applicable credit guidelines

Cleared

XXXX

2178712

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2180111

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180111

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required entity background search for the entity, XXXX, to include liens and judgments search. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180111

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2174662

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2174662

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2174662

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2180110

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180110

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180110

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175607

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175607

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

XXXX provided for "Allow one studio unit under XXXX sq feet." Determined non-material based on compensating factors (waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating factors; Experienced investor and fico score is XXXX points greater than min fico score

XXXX

2175607

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2178707

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178707

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met.According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport for all guarantors. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX, everything but driver's license.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached guarantor package

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2178707

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU score XXXX.

Cleared

XXXX

2178711

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178711

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2178711

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA dated XX/XX/XXXX which supports the appraised value,

Cleared

XXXX

2180109

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180109

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180109

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2180108

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180108

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180108

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports appraised value.

Cleared

XXXX

2178710

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178710

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2178710

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2180106

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180106

2 of 3

XXXX

Credit

Debts - Not Verified

XXXX

The application reflects the borrower owns two non-subject rental properties that both have mortgages. The loan file is missing the mortgage statements for these properties; which is needed to verify the total housing expense for each property. The mortgage statements for properties XXXX XXXX an XXXX XXXX are required. In addition if the mortgages are not escrowed for tax and insurance the HOI policies, tax statements and HOA if applicable will also be needed to verify the total housing expense for these properties.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180106

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2178709

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2178709

2 of 3

XXXX

Credit

Credit - Other

XXXX

XXXX provided for credit score below XXXX. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

Compensating factors: DSCR greater than XXXX, Experienced Investor, XXXX% LTV.

XXXX

2178709

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2180105

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180105

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

The loan file is missing a background check to include a judgment and XXXX search for the borrowing entity, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180105

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports appraised value.

Cleared

XXXX

2180104

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180104

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180104

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports appraised value.

Cleared

XXXX

2175612

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175612

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175612

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU score XXXX.

Cleared

XXXX

2180103

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The loan agreement exhibit B is missing the date of 'intent to be legally bound'.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exhibit B dated

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2180103

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180103

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180101

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180101

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180101

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports appraised value.

Cleared

XXXX

2180100

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180100

2 of 3

XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180100

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU dated XX/XX/XXXX that did not support; however, the loan file also contained a CDA dated XX/XX/XXXX which supports the appraised value. As the CDA was a second valuation product, per the rating agencies, this is graded as an EV2.

Acknowledged

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX with EV2 grading

Response 1 (XX/XX/XXXX XX:XXAM)
EV2 rating. (Acknowledged)

XXXX

2180094

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180094

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180094

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2180098

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180098

2 of 3

XXXX

Credit

Interested Party Contribution - Exceeds

XXXX

XXXX provided for XXXX% seller concessions at XXXX% LTV. Per lender guidelines XXXX allowable IPCs at XXXX% LTV is XXXX%.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Determined non-material based on compensating factors (waived).

Compensating Factors: Repeat AHL client; DSCR greater than XXXX%; FICO score is XXXX points greater than min fico score

XXXX

2180098

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supported the appraised value.

Cleared

XXXX

2180093

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180093

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180093

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2180097

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180097

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180097

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2180096

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180096

2 of 4

XXXX

Credit

Borrower - Ineligible borrower

XXXX

Does not meet eligible borrower requirements per guidelines. First time investors are not allowed when the DSCR is < XXXX. The actual DSCR is Market Survey $XXXX / PITI $XXXX = XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
borrower is not a first time investor. please see attached docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2180096

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception for closing XXXX days prior to XXXX months of seasoning on a cash-out refinance. XXXX non material based on compensating factors. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non material based on compensating factors (Waived).

Compensating Factors: LTV is XXXX% less than max LTV, borrower has lived in primary residence for XXXX+ years, repeat AHL client

XXXX

2180096

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2180095

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180095

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180095

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2164846

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164846

2 of 3

XXXX

Credit

Appraisal - Other

XXXX

Per Lender's guides, a collateral Desktop Analysis is required when only one appraisal is obtained, regardless of CU score. The loan file obtains only one appraisal dated XX/XX/XXXX; however, a CDA is not contained in the loan file as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2164846

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2164848

1 of 3

XXXX

Compliance

Compliance Finding - Missing Business Purpose Documentation

XXXX

There are additional XXXX. The subject loan is a Business Purpose Loan; however, the loan file contains conflicting Occupancy Affidavits. One occupancy affidavit, signed by the borrower at closing, reflects the home will also be used as a secondary residence.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX cert

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2164848

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2164848

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2153395

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2153395

2 of 4

XXXX

Credit

Assets - Bank Statements

XXXX

The subject is a purchase transaction with funds to close, including POCs and EMD were $XXXX. Reserves were required in the amount of $XXXX for a total required funds in the amount of $XXXX. The final XXXX reflected funds in XXXX #XXXX in the amount of $XXXX and EMD funds of $XXXX. File contained a Citizens #XXXX, statement with period ending XX/XX/XXXX and balance of $XXXX and a partial printout of Citizens #XXXX with transactions and dates from XX/XX/XXXX to XX/XX/XXXX. The full transaction history from XX/XX/XXXX to XX/XX/XXXX was not provided to support transactions XX/XX/XXXX to XX/XX/XXXX. Without the full transaction history, funds to close and reserves cannot be verified.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find the XXXX statement for #XXXX from XX/XX/XXXX to XX/XX/XXXX. Sufficient assets are noted. Please clear the condition. Thank you.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2153395

3 of 4

XXXX

Credit

Assets - Earnest Money Deposit

XXXX

The Closing Disclosure and purchase contract supported an Earnest Money Deposit in the amount of $XXXX. Documentation to support the source account for the Earnest Money Deposit was not provided. Without proof of the Earnest Money Deposit, the borrower would be short of the required funds for closing and reserves.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the snippet of the Citizen&#XXXX;s bank statement whereby $XXXX was withdrawn. Most likely $XXXX for the cashier&#XXXX;s check . I am also uploading the full bank statement. Lastly the cashier&#XXXX;s check for $XXXX to XXXX. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2153395

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2151897

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2151897

2 of 3

XXXX

Credit

Income - Other/Missing

XXXX

The loan file is missing XXXX months proof of rent receipts as required. Investor guidelines state if actual rents from the lease agreement ($XXXX)are being used and they are higher than the long term market rents ($XXXX) XXXX months proof of receipt of rents is require. A lease agreement is required if the property is leased (the property is leased per appraisal- lease is in the loan file), if unable to provide evidence of receipt the unit will be treated as vacant. Vacant or unleased properties are allowed with a maximum LTV of XXXX%. The subject property has an LTV of XXXX%.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX allows use of XXXX market rent when it is lower and requires ‘NO’ additional information. Proof of receipt of rent is not required. Please see uploaded rebuttal and waive condition.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2151897

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2177443

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177443

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177443

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2158676

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2158676

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines loan is not eligible for a cash out refinance if there is a HELOC with any draws in the last XXXX months. HELOC statement provided in the loan file reflects a draw of $XXXX was made XXXX. Subject loan closed XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please find attached exception form. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. 1.178DSCR.

XXXX

2158676

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2155664

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2155664

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines a business purpose and occupancy affidavit must be executed. The loan file contains an occupancy affidavit; however, no business purpose affidavit was provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find the business purpose occupancy affidavit (pages XXXX and XXXX). Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2155664

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2165692

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165692

2 of 3

XXXX

Credit

Program Parameters - LTV

XXXX

XXXX in file for one unit being vacant reducing LTV max from XXXX% to XXXX%. The subject loan closed at XXXX% LTV, which exceeds XXXX of XXXX% where as one unit out of the XXXX unit property is vacant. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please see attached exception approval. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating factors: XXXX, DSCR is above XXXX at XXXX, reserves of $XXXX or XXXX months.

XXXX

2165692

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2153394

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2153394

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. Homeowners policy provided did not indicate All Perils was covered.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Hello please find the insurance policy for subject property. I have also shown the snippet reflecting the deductible for all perils. This is one of the options. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2153394

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value.

Cleared

XXXX

2161480

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2161480

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2161480

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2155668

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2155668

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2155668

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2158678

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2158678

2 of 3

XXXX

Credit

Property - Previously Listed for Sale

XXXX

Lender exception in file as the subject does not meet Program Parameter for Property Listed for Sale. The origination Appraiser indicated the subject was listed for sale XX/XX/XXXX with listing cancelled XX/XX/XXXX which was less than XXXX months prior to subject Note date of XX/XX/XXXX. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please see attached exception form with comp factors. Please downgrade. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating factors: Using the appraised value of $XXXX for LTV calculation. Listing price was $XXXX, XXXX mid score above minimum required of XXXX, Experienced investor.

XXXX

2158678

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2164841

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please find the attached recorded warranty deed and security instrument. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2164841

2 of 3

XXXX

Credit

Liabilities - Mortgage Payment History

XXXX

According to guidelines any VOM completed by a private party or any non-institutional lender must be supported by alternative documentation showing the most recent XXXX-month history. The VOM was completed by a private party and no alternative documentation was provided to confirm most recent XXXX month payment history. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the exception approving vom from a private party. Please clear the condition.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX-% LTV. XXXX months of reserves.

XXXX

2164841

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2158680

1 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Prepayment Addendum is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
DOT with XXXX page Prepayment addendum attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
The Prepayment Rider was the last Rider at the bottom of the mortgage. The mortgage references the Prepayment Rider. I have attached the Prepayment Rider and Prepayment Addendum. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
The mortgage and riders were provided however the finding is for missing prepayment addendum to the Note. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158680

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the Business Purpose and XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Business Purpose & Occupancy Affidavit uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2158680

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow borrower that doesn't own their primary residence. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Escalated.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver from Investor in loan file. (Waived)

Compensating Factors: excess reserves, DSCR XXXX

XXXX

2158680

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2158679

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2158679

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the required Business Purpose and Occupancy affidavit.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the attached Business Purpose and XXXX. Please clear. Thank you

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2158679

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains an exception to allow XXXX% LTV on a warrantable condo when the maximum allowable per guidelines is XXXX%. Client to approve downgrading finding based on compensating factors. ????

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached certification indicating that an exception is not required. Please waive the condition.Thank you.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
It is our understanding that this is being cleared per XXXX&#XXXX;s matrix. The diligence firm has been notified. Thank you.

Response 1 (XX/XX/XXXX XX:XXPM)
The Investor overlay is nor used on this loan. Guidance is to use the XXXX overlay and only apply Investor overlays of Homeowners Insurance, Immigration Status, Employment Authorization, and XXXX Statute 4D. (Upheld)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating factors: excess reserves, XXXX, ownership in primary XXXX years.

XXXX

2158679

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165694

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165694

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165694

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2175453

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175453

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175453

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2177442

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177442

2 of 3

XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The subject loan was a purchase of an investment property under the DSCR program; however, the loan file was missing the Business Purpose Affidavit/Certification as required per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find the business affidavit. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2177442

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2175451

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175451

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175451

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2177440

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177440

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per Lender's guides, the borrower is required to sign a Business Purpose & Occupancy Affidavit. The loan file is missing a signed Business Purpose & Occupancy Affidavit.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Hello please find the Business Purpose Affidavit. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177440

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175452

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175452

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175452

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2175675

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175675

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175675

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2158677

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2158677

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2158677

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2165693

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165693

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165693

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2177438

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177438

2 of 3

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The guidelines indicate the primary residence and subject property mortgage/rent rating must be current, meaning the borrower has made all mortgage/rent payments due in the month prior to the note date. The loan file is missing the loan payment due XX/XX/XXXX for the Borrower's primary residence.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please find attached documentation that the XXXX/XXXX and XXXX/XXXX payments were made on the primary residence. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177438

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2169498

1 of 9

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2169498

2 of 9

XXXX

Credit

Assets - Earnest Money Deposit

XXXX

The earnest money deposit was not properly documented and/or sourced. The loan file contained bank statements for XXXX #XXXX in the name of XXXX. This account was the source of the EMD. Per the lender's guidelines business bank or brokerage account statement (entities other than the Borrowing Entity) requires full Operating Agreement that details ownership of the entity and access to funds in the entity’s bank/brokerage account(s). Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Operating Agreement attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2169498

3 of 9

XXXX

Credit

Assets - Source

XXXX

The funds required to close and reserves were not properly sourced and/or seasoned. The loan file contained bank statements from Voya #XXXX in the name of XXXX as custodian. Per the lender's guidelines business bank or brokerage account statement (entities other than the Borrowing Entity) requires full Operating Agreement that details ownership of the entity and access to funds in the entity’s bank/brokerage account(s). Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The account referenced is not a business operating account of the borrowing entity. XXXX is acting solely as the custodian for the account. The funds held in the account belong to XXXX individually, and the assets are under his ownership and control. As such, the account should be treated as a custodial account for the borrower rather than a business entity account requiring an Operating Agreement for access to funds.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2169498

4 of 9

XXXX

Credit

Condo - Documentation

XXXX

Loan file did not contain required condo documentation XXXX. Per the lender's guidelines need to determine if the HOA has any open litigations and need to determine condo warrantability.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2169498

5 of 9

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation for XXXX. Per lender guidelines a Certificate of Good Standing or an “Active Status” report from the State of entity registration is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
no COGS is needed since this was a new LLC

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Per ECF guidelines, a Certificate of Good Standing or “Active Status” report from the State of entity registration is not required if the entity formation date is less than six (XXXX) months prior to the XXXX date. XXXX Unit 22E LLC was formed on XXXX, and the loan closed on XXXX, which is within the XXXX-month requirement. Please see attached filing receipt confirming the entity formation date.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2169498

6 of 9

XXXX

Credit

DSCR - Missing HUD

XXXX

Missing HUD as required. Unable to determine sufficient cash to close and reserves. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Since this is a XXXX loan, our attorney prepared the following Funding statement. It is equivalent to a HUD and contains all information.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2169498

7 of 9

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The guidelines require a minimum DSCR of greater than or equal to XXXX%. The DSCR based on the Market Rent $XXXX / PITIA $XXXX = XXXX%.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the signed and notarized XXXX reflecting a DSCR of .812x Monthly Payment (P&I) $ XXXX Total Monthly Payment (PITIA) $ XXXX Monthly Taxes $ XXXX 3M Tax Escrow $ XXXX Monthly Insurance $ XXXX XXXXM Insurance Escrow $ XXXX Monthly HOA $ XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
The property has an active tax abatement. The standard annual tax amount would be approximately $XXXX without the abatement, however the current actual tax payment is only $XXXX quarterly ($XXXX annually). DSCR should be calculated using the current active tax obligation.

Response 1 (XX/XX/XXXX XX:XXAM)
Disagree. Property taxes are not going to be $XXXX per month. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The Note provided is sufficient to cure the finding. (Resolved)

Response 3 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2169498

8 of 9

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan file is missing a current HOI and Master HOI Policy. Per the lender's guidelines the insurance policy must cover a full XXXX months and must be paid in full at the time of closing. Additionally, the subject property is a condominium. Condominium properties require an HO6 Policy equal to no less than XXXX% of the appraised As-Is value if the interior “walls-in” and “betterments and improvements” are not insured under the Master Insurance Policy carried by the XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Master HOI Policy attached

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Please see attached

Response 1 (XX/XX/XXXX XX:XXAM)
Still missing the walls-in policy. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2169498

9 of 9

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2172256

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172256

2 of 3

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The mortgage history in the loan file was incomplete or missing. The file is missing the payment history for the mortgage paid off with the subject loan, XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the attached VOM

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Please see attached

Response 1 (XX/XX/XXXX XX:XXAM)
Letter provided does not contain a payment history. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2172256

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175527

1 of 3

XXXX

Compliance

HUD1 - Missing (All)

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Funding statement attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175527

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175527

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2172257

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Acknowledged

XXXX

2172257

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172257

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2175526

1 of 5

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2175526

2 of 5

XXXX

Credit

Contract Addendum - Missing

XXXX

The purchase contract reflected the purchase price as $XXXX. The Final HUD settlement statement reflected a purchase price of $XXXX. The addendum to the purchase contract to support the purchase price of $XXXX was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Contract Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175526

3 of 5

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The origination credit for Guarantor XXXX, XXXX, was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX is a non-guarantor

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Credit for K XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX signed the Guaranty Agreement. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175526

4 of 5

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines for Guarantor XXXX, XXXX, to include criminal check, liens and judgements and OFAC search.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
OFAC search for XXXX attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
BGC attached

Response 1 (XX/XX/XXXX XX:XXPM)
Received the OFAC search. Still missing the background check.

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175526

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2179086

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179086

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2179086

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2179085

1 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2179085

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: page XXXX is missing borrower initials and the borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX, however the mortgage lists XXXX. A deed transferring ownership interest from XXXX to XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Deed attached, thank you.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Attached please find the initialed page of the mortgage and the XXXX transferring the property from XXXX to XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The Warranty Deed provided is acceptable. Please provide pg. XXXX with borrowers initials for review. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2179085

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2179085

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2179083

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2179083

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2179083

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2172258

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172258

2 of 3

XXXX

Credit

Assets - Other

XXXX

The subject was a purchase transaction. The total required funds for the transaction included $XXXX which included the EMD plus required reserves in the amount of $XXXX. This was a total required funds of $ XXXX. Borrower verified funds were $XXXX which resulted in a shortage of closing funds in the amount of $XXXX and reserves of $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please include the HELOC in the borrower&#XXXX;s liquidity calculation

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2172258

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2169500

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2169500

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169500

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2179082

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179082

2 of 3

XXXX

Credit

Contract - Concessions

XXXX

The contract contained unallowable concessions or significant personal property, and does not meet the program eligibility guidelines due to excessive seller contributions. The Final Hud1 Statement reflects the contract price of $XXXX and seller contributions of $XXXX, which exceed the maximum XXXX% ($XXXX) guidelines for seller contributions. Therefore, there is an excess contribution amount of $XXXX, which makes the subject loan an ineligible transaction.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Per Section XVI.XXXX of the XXXX guidelines: XXXX allows for seller paid costs/credits or interested party contributions up to XXXX% of the purchase price of the property.

Response 1 (XX/XX/XXXX XX:XXAM)
Agree. Finding has been voided. (Void)

XXXX

2179082

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2179081

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179081

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2179081

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2169499

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169499

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see FP XXXX Rental Dwelling Policy which covers all perils.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2169499

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175672

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175672

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175672

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175671

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175671

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175671

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2175673

1 of 3

XXXX

Compliance

State Regulations

XXXX

Acknowledged

XXXX

2175673

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175673

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2172259

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan has a prepayment term. (XXXX. Comp. XXXX §438.31c(XXXX)(c) Under XXXX. Comp. XXXX §438.31c(XXXX)(c), a loan secured by a single-family dwelling unit shall not charge a prepayment fee or penalty in excess of XXXX% of the amount of any prepayment made within XXXX years of the date of the loan, or any prepayment fee or penalty at all thereafter, or prohibit prepayment at any time. This restriction does not apply to loans insured or guaranteed by the federal government or by any agency of the federal government

Acknowledged

XXXX

2172259

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172259

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2179084

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179084

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2179084

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2179087

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2179087

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2179087

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175528

1 of 5

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2175528

2 of 5

XXXX

Credit

Credit - OFAC Screening

XXXX

The loan file does not contain evidence the Borrower(s) passed the OFAC screening process. The loan file did not contain an OFAC Report for the co-borrower/XXXX% co-owner of the LLC that the subject loan closed in as required per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Clean OFAC Search attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175528

3 of 5

XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a Fraud Report, OFAC Report, or XXXX check for the co-borrower/XXXX% co-owner of the LLC that the subject loan closed in as required per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Clean OFAC Search attached

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX report not required. OFAC received. (Resolved).

XXXX

2175528

4 of 5

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

Not all required credit reports are within the file. The loan file did not contain a Credit Report for the co-borrower/XXXX% co-owner of the LLC that the subject loan closed in as required per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Credit for K XXXX attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175528

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2175674

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175674

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175674

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2165786

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165786

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165786

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2164792

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164792

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2164792

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2169380

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169380

2 of 4

XXXX

Credit

Assets - Minimum Reserves

XXXX

Sufficient reserves to meet underwriting requirements were not verified in the file. Six months of PITIA reserves were required with a DSCR <XXXX% which is equal to $XXXX ($XXXX x XXXX = $XXXX). The total documented assets were $XXXX minus POCs, EMD and cash to close totaling $XXXX which resulted in remaining assets of $XXXX for reserves. As a result, there was a $XXXX shortage of verified funds for reserves.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see UW response

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Escalated.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
I do not see where we are short reserves. Below are my calculations. Assets Verified: $XXXX Minus funds to close - $XXXX Remaining = $XXXX PITIA $XXXX x XXXX = $XXXX (over by $XXXX) Will you please ask how they are calculating the shortage?

Response 1 (XX/XX/XXXX XX:XXPM)
Rent must be reduced by XXXX% for a non-warrantable condo. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
DSCR is XXXX and only XXXX months of reserves are required. Reserve shortage is $XXXX. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Borrower paid $XXXX POC with credit card which has been deducted from required assets. Borrower now has sufficient funds for closing and reserves. (Resolved)

XXXX

2169380

3 of 4

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The maximum LTV with a DSCR <XXXX and greater than and equal to XXXX is XXXX%. DSCR = Market Rent $XXXX (XXXX% allowed for non-warrantable condo $XXXX) / PITIA $XXXX = XXXX%. The subject transaction closed at XXXX% LTV.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see UW response

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Waiver provided.

Response 1 (XX/XX/XXXX XX:XXPM)
Rent must be reduced by XXXX% for a non-warrantable condo. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver to XXXX% LTV granted by Investor. (Waived)

XXXX. Experienced Investor.

XXXX

2169380

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. LCA score is XXXX.

Cleared

XXXX

2165785

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165785

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165785

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2164793

1 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Appraisal fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached rebuttal

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please see attached guides. Investment properties do not need to be TRID compliant

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
XXXX, the attached business purpose affidavit was provided with the initial loan delivery. This suspense is not valid and should be waived. Business purpose is exempt from TRID. Thank you!

Response 1 (XX/XX/XXXX XX:XXAM)
A Non-QM loan is still a TRID loan and therefore TRID requirements still apply. If the loan is Business Purpose Exempt, then a new data tape is required re-designating the loan as XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Per Federal regulations a loan that is designated as NON-QM is not exempt form TRID requirements. It appears the rebuttal indicates this loan is Business Purpose exempt. Can you please confirm this loan should be Business Purpose exempt as the Lender originated QM status. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Lender affirms that loan was originated as a Business Purpose Exempt loan. (Resolved)

XXXX

2164793

2 of 4

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The credit report is missing from the loan file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Credit report attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2164793

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

The borrower is a FTHB purchasing an Investment property. Non QM Expanded program guidelines don't allow an Investment purchase for a FTHB. The loan approval was not provided in the loan file for our review. Reviewer unable to confirm program.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX decision

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please see attached approved exception

Response 1 (XX/XX/XXXX XX:XXPM)
It appears an Investor exception is required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX months of reserves.

XXXX

2164793

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2168061

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168061

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2168061

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2164794

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164794

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2164794

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2164796

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164796

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2164796

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175523

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175523

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175523

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2168060

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168060

2 of 4

XXXX

Credit

Appraisal - Missing required 1004 D

XXXX

Missing required 1004D. The appraisal was made subject to completion. The opinion of value was subject to the installation of kitchen appliances.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Final inspection

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168060

3 of 4

XXXX

Credit

Assets - Source

XXXX

The subject transaction is the purchase of an investment property. A review of the bank statement, XXXX #XXXX, reflects the account holder as XXXX. The operating agreement reflects this business is owned XXXX% by the borrower's spouse who is not a borrower/guarantor on the subject transaction. Per the lender’s guidelines assets may come from either the Borrowing Entity or a secondary business owned by one or more of the borrowers or guarantors. If the assets being used are from a secondary business, the borrowers or guarantors on the loan must have a minimum of XXXX% ownership of the business and must be owners on the business account.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see uw response

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2168060

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2164795

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164795

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2164795

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2164847

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164847

2 of 3

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The subject loan was a Rate/Term Refinance of an investment property. The Closing Disclosure reflected funds to close in the amount of $XXXX plus program requirements of XXXX months XXXX reserves in the amount of $XXXX for total funds required to be verified of $XXXX. The loan file did not contain any asset documentation; therefore, the borrower was short in the required funds to be verified in the amount of $XXXX. ***additional conditions may apply ***

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ASSETS

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
401k account terms

Response 1 (XX/XX/XXXX XX:XXAM)
Account is a 401K. Withdrawal terms are required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2164847

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2164851

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: Prepayment XXXX is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached addendum. The original has been sent fedex via tracking XXXX. Thanks.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2164851

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2164851

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2145921

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2145921

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2145921

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA was provided dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2164850

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164850

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The loan closed in the name of an entity; however, none of the required entity documents were provided in the loan file for our review. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LLC DOCS

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
You already have a recent cert of good standing in the LLC docs ( pg XXXX) provided. See attached understanding of the tax acct status.

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide a recent Certificate of Good Standing. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2164850

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2177179

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177179

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177179

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175304

1 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2175304

2 of 4

XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The subject loan closed in the name of an LLC; however, the loan file does not contain the executed guaranty as required per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached to clear XXXX-XXXX-XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175304

3 of 4

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

Not all required credit reports are within the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached to clear XXXX-XXXX-XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
credit report attached to clear

Response 1 (XX/XX/XXXX XX:XXAM)
Document does not address defect. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175304

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2173034

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report Fee However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2173034

2 of 3

XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The subject loan closed in an LLC; however, the loan file does not contain an executed guaranty as required per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached to clear XXXX-XXXX-XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173034

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the value.

Cleared

XXXX

2165503

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165503

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165503

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2173033

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Reort. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2173033

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing XXXX agreement as required by the Lender's guidelines. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached to clear XXXX-XXXX-XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173033

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165504

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2165504

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165504

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2175305

1 of 3

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and date XX/XX/XXXX . If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This is a DSCR/business purpose loan. A TRID window does not apply

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
icd which includes esignature

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Loan originated an exempt

Response 1 (XX/XX/XXXX XX:XXPM)
According to the XXXX provided, the loan was originated as Non-QM. A Non-QM loan is considered a TRID loan. If the loan is instead XXXX from QM, please provide an updated XXXX re-designating the loan as Exempt reflecting the loan was originated as Exempt. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The receive date of XX/XX/XXXX for the CD issued on XX/XX/XXXX was used for testing. A receive date of XX/XX/XXXX is not XXXX business prior to closing on XX/XX/XXXX; Sunday is not included in timing. If the borrower received the CD issued on XX/XX/XXXX prior to XX/XX/XXXX please provide evidence for review. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Loan was originated as Exempt. (Resolved)

XXXX

2175305

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175305

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175307

1 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2175307

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Credit Report. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached to clear

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Loan was originated as business purpose exempt.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The LOE and PCCD have been provided showing the principal reduction in the amount of $XXXX. Please provide a screen shot or other evidence from the Lender's system as proof that the Principal Reduction was applied to the loan. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Loan was originated as business purpose exempt. TRID exception cleared. (Resolved)

XXXX

2175307

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file is missing the Guaranty Agreement as required by the lenders guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please see attached to clear

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175307

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2123318

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2123318

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state “All Perils” or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Investor approved to resolve.

Response 1 (XX/XX/XXXX XX:XXPM)
Investor approved to resolve overlay as correspondent will take on the risk under reps and warrants. (Resolved)

XXXX

2123318

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2133293

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: XXXX. The XXXX did not disclosure if the acknowledgment occurred by means of physical presence or online notarization.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
intent, affid.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
email to confirm doc submitted for re-recording

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
recorded affid.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The Affidavit of .Notary Correction has been provided along with a Processors Cert stating a request for re-recording. Please provide the re-recorded documents for review or evidence from the county they have been sent for recording. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The e-mail from the title company has been provided they intend to re-record the document; please provide something from the county it has been received for re-recording. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2133293

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

A lender exception was provided to allow for the subject property to have been actively listed at the time of application. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: LTV is XXXX% and the borrower has more than XXXX months reserves.

XXXX

2133293

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2169632

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. The HUD-XXXX was not signed, marked as Final, and/or stamped as certified true and accurate. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2169632

2 of 3

XXXX

Credit

Appraisal - Appraisal Missing

XXXX

Missing required appraisal from file. The loan file only contained an appraisal update and/or completion report.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Appraisal

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2169632

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2169631

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169631

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169631

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2169317

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169317

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169317

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2172745

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172745

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172745

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2131378

1 of 4

XXXX

Compliance

HUD1 - Missing (All)

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2131378

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The borrower is an entity. The 1st page of the Assignment of Rents lists the borrower as an Individual; the entity name should be listed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2131378

3 of 4

XXXX

Credit

Credit - Other

XXXX

The loan file contains the XXXX side of the Closing Disclosure; however, the buyer side is missing from the loan file. Reviewer unable to confirm borrower has sufficient cash to close. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
ATTACHED

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2131378

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2137653

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ALR rider corrected

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2137653

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2137653

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2153258

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section( of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The borrower is XXXX LLC; however, page XXXX of the XXXX states the borrower is XXXX. The borrower should be listed as the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
ALOR provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2153258

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2153258

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175213

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175213

2 of 5

XXXX

Credit

Income Documentation - Rental Property Income Miscalc/Exceeds Tolerance

XXXX

The subject transaction was a full documentation, cash-out refinanceof an investment property. Per the lender’s guidelines for rental income requirementsif loan is full doc when tax returns are not obtained current lease agreementsor market rents may be used. Receipt of XXXX months’ rental income to evidencethat the payments were deposited into the Borrower’s depository account at afinancial institution are required. Thelease agreement (using lessor of lease or market rent) reflected rent of $XXXXper month for the main house and $XXXX for the ADU. The loan file only containedXXXX month bank statement, BOA #XXXX dated XXXX/XXXX - XX/XX/XXXX which reflected a lessoramount of $XXXX total rental income. Therental income was not properly documented. As a result, the rental income was omitted which resulted in the DTIincreasing from XXXX% to XXXX%.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The property was purchased early XXXX so it would not be on the most recent (XXXX) tax return. XXXX were: XXXX. the lease, XXXX. confirmation of purchase date (see LSFM), and XXXX. the XXXX XXXX proof of rent. We do not need XXXX AND proof of rent. Please review guideline further on page XXXX regarding requirements with no history of renting on tax returns.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2175213

3 of 5

XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters for property type. A review of the appraisal reflected the ADU was only XXXX square feet. Properties with square footage smaller than XXXX. ft. per unit are ineligible.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX count as a unit. The spirit of the guides is that the main home cannot be under XXXX ft which it is not. If the ADU counted as a unit, this would be a XXXX unit property. Please re-review.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2175213

4 of 5

XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters for property type. A review of the lease agreement reflects the subject property was being utilized as a boarding house. The loan file contained an exception; however, it was denied.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX in file confirms exception was no longer required. There is one lease in file, this is not a boarding house.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Escalated.

Response 1 (XX/XX/XXXX XX:XXPM)
Exception must be granted by Investor.(Upheld)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175213

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175214

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175214

2 of 3

XXXX

Credit

Assets - Minimum Reserves

XXXX

The subject transaction was a purchase transaction. The required funds for closing, including the EMD and POC's were $XXXX. The subject transaction required XXXX months of reserves in the amount of $XXXX. A print out for XXXX account ending #XXXX with transaction dates of XX/XX/XXXX through XX/XX/XXXX with a balance of $XXXX was provided. An additional full XXXX statement with statement date of XX/XX/XXXX with an updated balance of $XXXX was provided. The EMD was documented and cleared prior to the XXXX statement date of XX/XX/XXXX. Using the most current statement balance as of XX/XX/XXXX and including the EMD funds, the borrower is short of the required reserves by $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
exception approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV.

XXXX

2175214

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value.

Cleared

XXXX

2154901

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The borrower is XXXX; however, page XXXX of the XXXX states the borrower is XXXX. The borrower should be listed as the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Doc provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2154901

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2154901

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2173165

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173165

2 of 4

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. Total assets in the amount of $XXXX were required to be verified (cash to close $XXXX, Earnest money $XXXX, POC $XXXX, and reserves $XXXX). Assets in the amount of $XXXX were verified in the loan file. The loan file contained a saving account with $XXXX, the loan file also contained a checking account with $XXXX, and a second checking account $XXXX. The bank statement reflect the EMD in the amount of $XXXX being cleared. Therefore, there was a shortage of verified assets in the amount of $XXXX. Additional conditions may apply.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed and elects to waive. Noted Compensating factors: Experienced Investor, XXXX% LTV

Experienced Investor, XXXX% LTV

XXXX

2173165

3 of 4

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The policy includes replacement cost.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Policy provided

Response 1 (XX/XX/XXXX XX:XXPM)
Apologies. What should have been reflected is that the Hazard Policy is missing from the file. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2173165

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2137015

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The borrower is an entity. The 1st page of the Assignment of Rents lists the borrower as an Individual; the entity name should be listed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2137015

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2137015

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2152715

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower(s)' name(s) on the Security Instrument Assignment of Rents Rider page XXXX, is inconsistent with the Note. The Rider does list the names of the borrower an entity, but rather lists the names of the entity members without their respective titles.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2152715

2 of 4

XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The subject loan closed in the name of an LLC: however, the loan file does not document the % of ownership as required per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2152715

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters. The subject loan is a purchase of an investment property with qualifying under the DSCR program, and a DSCR Ratio of .XXXX using a typical XXXX monthly market rent calculation. The loan file contains a Business Narrative and a Short Term DSCR Cash Flow Analysis from the borrowers; however, the guidelines reflect to consider as a short term DSCR the minimum DSCR XXXX is XXXX. Also the guidelines reflect as a general rule, any DSCR Ratio under XXXX, must have an approved exception. The loan file did not contain an exception as required .The loan file did not contain other DSCR short term project rent documentation as required, and if qualifying as a short term rental, the DSCR Ratio of .XXXX is considered an ineligible transaction as it is currently documented.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX DSCR - See worksheet uploaded calculating DSCR score. Using projected Operating expenses rather than a XXXX% reduction in revenue as expenses exceed XXXX%.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2152715

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2165613

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2165613

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165613

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2173169

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173169

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173169

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2144451

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ALR to be re-recorded

Response 1 (XX/XX/XXXX XX:XXAM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2144451

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2144451

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2144451

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2148774

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2148774

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
DOT

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2148774

3 of 4

XXXX

Credit

Borrower - Residency Alien Documentation

XXXX

The Final XXXX in file indicates Borrower is a US Citizen, however, the SS Card provided reflects "Valid for Work Only." The loan file is missing verification of Borrower's current citizenship status.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resoled)

XXXX

2148774

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2165407

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165407

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165407

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2156817

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2156817

2 of 5

XXXX

Credit

Assets - Other

XXXX

The guidelines indicate assets from the borrower’s business are an acceptable source of funds for the down payment, closing costs, and reserves provided the borrower must have authority to access and withdraw funds (borrower or all borrowers combined must own XXXX% of the business) or shared ownership requires an access letter from the partners allowing the use of the business funds by the borrower. The XXXX used business assets from a business checking account for XXXX and provided an operating agreement to support XXXX% ownership. However, the operating agreement in file for XXXX has not been executed by the Borrower/Member.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ownership

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2156817

3 of 5

XXXX

Credit

Assets - Other

XXXX

The guidelines indicate when an investment account is used for funds to close the most recent XXXX month or quarterly statements from the brokerage or investment firm is required. The Note date is XX/XX/XXXX and the XXXX provided a year-end XXXX statement dated XX/XX/XXXX to support $XXXX funds for closing/reserves. Removing the funds creates an asset shortage of $XXXX. The loan file is missing the most recent XXXX month or quarterly statement.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, XXXX% LTV, Experienced Investor, DSCR of XXXX

Compensating Factors: XXXX qualifying credit score, XXXX% LTV, Experienced Investor, DSCR of XXXX

XXXX

2156817

4 of 5

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The guidelines indicate a current mortgage/rental history is required. Current means the borrower(s) have made all mortgage payments due in the month prior to the note date and are current as of the application date. The Borrower has a 1st XXXX mortgage and a XXXX on their primary residence. The loan closed XX/XX/XXXX and the loan file is missing evidence the XX/XX/XXXX payment was made XXXX for the Borrower's primary residence.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Payment due XXXX/XXXX would not need to be evidenced until XXXX/XXXX which was after closing date. This is not required

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2156817

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2148789

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The security instrument was not completed accurately. The referenced Assignment of Leases and XXXX reflects an individual on page XXXX of XXXX; however, the subject loan is an Entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
affidavit recorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2148789

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2148789

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2152719

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower is a corporation. The 1st page of the Assignment of Rents lists the borrower as an Individual; the corporation name should be listed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
DOT provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2152719

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2152719

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2163435

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163435

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163435

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2155562

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2155562

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The guidelines indicate First Time Homebuyers are ineligible for financing. The Borrower currently lives XXXX and the loan file is missing documentation to support current of previous ownership of real estate <= 3yrs of the Note Date (XX/XX/XXXX).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. File contains rent free letter as well as an LOE from borrower on why they are buying an investment property out of state. Appraisal market rents based on short term rentals. Noted Compensating Factors: XXXX qualifying credit score, XXXX% credit utilization, $XXXX verified reserves.

Compensating Factors: XXXX qualifying score, $XXXX verified, XXXX% credit utilization

XXXX

2155562

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2144673

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The security instrument was not completed accurately. The referenced Assignment of Leases and XXXX reflects the borrower as individuals on page XXXX of XXXX; however, the borrower is an Entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2144673

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2144673

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2153256

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2153256

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2153256

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2152703

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2152703

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2152703

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2165617

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165617

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165617

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2155529

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The XXXX to the mortgage reflected the borrowers' names as individuals on page XXXX of the rider; however, the names should have been reflected as the entity name.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
corrective aff provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2155529

2 of 4

XXXX

Credit

Income - Rental Property/Missing Lease

XXXX

The rental income was not properly documented per guidelines. Lease agreement is required but missing from the loan file. The appraisal refects the property as tenant occupied with a lease amount of $XXXX; however, a copy of the actual lease is not present in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Doc provided

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
This has been effective for over XXXX years, and is sufficient

Response 1 (XX/XX/XXXX XX:XXAM)
Only a lease extension was provided. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Agreed. Documentation is sufficient. (Resolved)

XXXX

2155529

3 of 4

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment is missing. The loan file does not contain a copy pf the title commitment or policy as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Title provided

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2155529

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2165614

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165614

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for First Time Homebuyer. The Lender guides do not allow First Time Homebuyers on a DSCR loan. Client to approve downgrading finding based on compensating factors of monthly reserves verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing payment history is 0x30x24 or better. XXXX, which is XXXX points higher than guideline minimum.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Per LSFM fraud report, borrower is not a FTHB. Borrower has loan with note date of XX/XX/XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Application to be updated with new owner occupied residence and new mortgage statement to be provided. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, DSCR of XXXX, $XXXX verified reserves

Compensating Factors: XXXX qualifying score, DSCR 0F XXXX, $XXXX verified reserves

XXXX

2165614

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2152708

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
re-recorded DOT provided

Response 1 (XX/XX/XXXX XX:XXAM)
The updated rider is sufficient to cure the exception. (Resolved)

XXXX (XX/XX/XXXX XX:XXPM)
corrected rider

XXXX

2152708

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2152708

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175557

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175557

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175557

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2163890

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2163890

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163890

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175217

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175217

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175217

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a second appraisal dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2165434

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165434

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165434

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2165645

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165645

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file due to the condo project being non-warrantable due to XXXX% of apartments being rentals. Client to approve downgrading finding based on compensating factors of monthly reserves verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing payment history is 0x30x24 or better.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
app

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. XXXX DSCR.

XXXX

2165645

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2173181

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173181

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173181

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165408

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165408

2 of 5

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

Not all required credit reports are within the file. The most recent credit report for the borrowers is dated XX/XX/XXXX and the loan closed on XX/XX/XXXX. Guidelines require a gap credit report or undisclosed debt monitoring report no more than XXXX days prior to the closing date which is missing from the file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
UDM

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165408

3 of 5

XXXX

Credit

Debts - Not Verified

XXXX

The application lists significant debts that were not verified on the credit report and not independently verified. The borrowers were qualified with a debt identified as Other on the XXXX with a payment of $XXXX. The file is missing documentation to verify this debt/payment. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
debt added in error, see updated XXXX & email correspondence.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2165408

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Non-Arms Length transactions. The subject transaction is a purchase of an investment property which is not allowed per guidelines for non-arms length transactions. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating factors: XXXX when XXXX is minimum; residual income of $XXXX when $XXXX is minimum for an exception; housing payment history 0x30x24.

XXXX

2165408

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165625

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165625

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Property Location. The subject is located in XXXX. Lender guides do not allow properties located in XXXX. Client to approve downgrading finding based on compensating factors of monthly reserves verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing payment history is 0x30x24 or better.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX XXXX. XXXX% LTV.

XXXX

2165625

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file has a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175223

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175223

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175223

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2165416

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165416

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The loan file contains a lender exception to allow financing on a property in XXXX county which an unacceptable property. Determined non-material based on compensating factors. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Exception uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating factors: LTV less XXXX%, XXXX+ mons PITI

XXXX

2165416

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165417

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165417

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2165417

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2173168

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173168

2 of 4

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. Total assets in the amount of $XXXX were required to be verified (cash to close $XXXX and reserves $XXXX). The loan file did not contain any asset documentation. Therefore, there was a shortage of verified assets in the amount of $XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CD from other closing - this cash was used

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173168

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Exception in file as the subject loan does not meet Program Parameters for the subject property being a condo where the roofs are not insured at full replacement coverage and the SB326 inspection report dated July XXXX reflecting signs of aging/cracking and deferred maintenance at various balcony locations the concerns appear to be maintenance-related in nature, with recommended repairs including resealing, waterproofing, and general repairs requiring immediate attention. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Exception

Response 1 (XX/XX/XXXX XX:XXAM)
Received waiver granted by investor. (Waived)

Compensating factors: loan file contains letter from HOA stating all repairs from SB326 were completed, LTV less than XXXX%, and at least XXXX% less than guideline maximum, FICO higher than XXXX, and at least XXXX points higher than guideline minimum, qualifying DSCR higher than 1.1x, and at least 0.1x higher than guideline minimum, and housing payment history is 0x30x24 or better.

XXXX

2173168

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2175219

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175219

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Loan Amount. The lenders guidelines state the minimum loan amount is $XXXX. The subject loan closed with a loan amount of $XXXX.Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: Monthly reserves verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than 1.1x, and at least 0.1x higher than guideline minimum. Housing payment history is 0x30x24 or better.

XXXX

2175219

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2167111

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167111

2 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The Lender's guidelines require a certificate of good standing, which must be dated within XXXX days of closing. Despite this requirement, the loan file is missing a certificate of good standing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
cert

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167111

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for LTV. The lenders guidelines state the maximum LTV for a Rate and Term Refinance with a FICO of XXXX and above is XXXX%. The subject loan was approved with an LTV of XXXX%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waiver)

Compensating Factors: FICO higher than XXXX, and at least XXXX points higher than guideline minimum. Monthly reserves verified and at least XXXX months more than guidelines minimum. DSCR higher than XXXX and at least 0.1x higher than the guidelines maximum.

XXXX

2167111

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175216

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175216

2 of 3

XXXX

Credit

Program Parameters - LTV

XXXX

The guidelines indicate a XXXX% LTV max for a cash-out refinance for a Borrower with a XXXX+ fico and loan amount <= $XXXX. The loan closed with an LTV of XXXX%.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
exception approved

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2175216

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2163448

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163448

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163448

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165620

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165620

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165620

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2176970

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176970

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176970

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2169589

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169589

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169589

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2163437

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163437

2 of 3

XXXX

Credit

Appraisal - Other

XXXX

A transferred appraisal requires an XML version of the appraisal.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX verified reserves,

Compensating Factors: XXXX qualifying score, $XXXX verified reserves

XXXX

2163437

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX and SSR score is XXXX.

Cleared

XXXX

2160019

1 of 3

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider(s) / Legal Addendum(s) are missing: Legal Description

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
legal

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160019

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2160019

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2156832

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2156832

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2156832

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2156834

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2156834

2 of 3

XXXX

Credit

FEMA

XXXX

FEMA Declaration declared XX/XX/XXXX for XXXX (XX-XXXX-XXXX) with an incident period of XX/XX/XXXX – XX/XX/XXXX which is after the original appraisal date XX/XX/XXXX. Please provide Property Inspection to confirm no damage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2156834

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2163872

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163872

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163872

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165618

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165618

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165618

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2169590

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169590

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169590

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2158313

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158313

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2158313

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2165412

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165412

2 of 3

XXXX

Credit

Income - Rental Property/Missing Lease

XXXX

Missing Lease agreement. Guidelines require a copy of the lease agreement if the subject property is leased prior to funding. The appraisal reflects that the subject is occupied; however, the loan file does not contain a copy of the lease.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Lease

Response 1 (XX/XX/XXXX XX:XXAM)
Document received. (Resolved)

XXXX

2165412

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165425

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165425

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165425

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165619

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165619

2 of 3

XXXX

Credit

DTI - Exceeds Guidelines

XXXX

XXXX in file as the subject loan does not meet Program Parameters due to borrower having XXXX mortgage loans. The Lender guides reflect XXXX amount of loans to one borrower to be XXXX. Client to approve downgrading finding based on compensating factors of monthly reserves verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing payment history is 0x30x24 or better.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Exception is no longer needed per UW

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Please explain and document why exception is no longer needed. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165619

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2158315

1 of 5

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The Mortgage was executed by an entity, but the entity documents are missing. Unable to determine if signatures on mortgage are accurate.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Business docs

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158315

2 of 5

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Although an affidavit was provided, the document requires correction and initials by the borrower to the changes made. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2158315

3 of 5

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The loan file is missing the required articles of organization, Certificate of Good Standing, copy of fully executed operating agreement reflecting the borrower is an authorized signer, EIN/W9, list of members if applicable along with organizational chart/meeting minutes if multi-member entity, ownership percentage, and other applicable documentation verifying the entity meets the lender requirements for the borrowing entity. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Business docs

Response 1 (XX/XX/XXXX XX:XXAM)
Documents received. (Resolved)

XXXX

2158315

4 of 5

XXXX

Credit

Program Parameters - Property Type

XXXX

XXXX in file as the subject has one unit with XXXX square feet. XXXX footage per lender guides is XXXX per unit. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating factors: DSCR XXXX, Reserves of $XXXX or XXXX months.

XXXX

2158315

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2160010

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A change of circumstance was provided in the loan file but the explanation of the fee increase stated due to appraisal requirements, but no additional information was provided to expand on what additional information was needed. The appraisal invoice in the file shows a breakdown of $XXXX for the appraisal fee and $XXXX for the management fee. Therefore, the increase to the following fees was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
appraisal charge increased due to XXXX, supporting documentation from lender.

Response 1 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2160010

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2160010

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165439

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165439

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Property Location. The subject is located in XXXX. Lender guides do not allow properties located in XXXX. Client to approve downgrading finding based on compensating factors of FICO higher than XXXX and at least20 pints higher than guideline minimum. Monthly reserves verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing payment history is 0x30x24 or better.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. XXXX months of reserves.

XXXX

2165439

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2163441

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163441

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163441

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2163493

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163493

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163493

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2163494

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163494

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163494

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2155557

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2155557

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2155557

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2169591

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169591

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169591

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2163889

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163889

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163889

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2163446

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163446

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163446

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX.

Cleared

XXXX

2165414

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165414

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lenders guidelines state that the minimum loan amount is $XXXX. The loan was approved and closed with a loan amount of $XXXX. Client to approve downgrading finding based on compensating factors. Monthly reserves are verified and at least XXXX months more than guideline minimum. ?DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing Payment history is XXXX*XXXX*XXXX or better.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2165414

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2163439

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163439

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163439

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165638

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165638

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165638

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2163478

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163478

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163478

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2163485

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163485

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163485

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2165621

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165621

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. A copy of the articles of organization for the borrowing entity XXXX is required and missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See pages XXXX-XXXX of the initial XXXX pages uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Still missing Articles of Organization. (Upheld)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation from XXXX website is sufficient. (Resolved)

XXXX

2165621

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2165637

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165637

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lenders guidelines state that a purchase with a DSCR greater than or equal to XXXX with a XXXX is XXXX%. The loan was approved with an LTV of XXXX%; however, due to seller concessions going over maximum allowed of $XXXX, the adjusted LTV due to Excessive Concessions is XXXX%.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: DSCR of XXXX, $XXXX verified reserves, XXXX qualifying credit score with no lates XXXX year history

Compensating Factors: XXXX qualifying score with no lates in XXXX year history, DSCR of XXXX, $XXXX verified reserves

XXXX

2165637

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2165635

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2165635

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165635

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2167112

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167112

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167112

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2165433

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165433

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165433

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165449

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165449

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165449

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2169607

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169607

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169607

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165418

1 of 4

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider Legal is missing: Prepayment Rider

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165418

2 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165418

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception in file for lenders guidelines state that the minimum LTV for a Purchase of a subject property in a Rural area is XXXX%. The loan was approved and closed with an LTV of XXXX%. Client to approve downgrading finding based on compensating factors. Monthly reserves are verified and at least XXXX months more than guideline minimum. DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing Payment history is XXXX*XXXX*XXXX or better.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Exception

Response 1 (XX/XX/XXXX XX:XXAM)
Client exception approval received. (Waived)

Monthly reserves are verified and at least XXXX months more than guideline minimum. DSCR higher than XXXXx and at least 0.1x higher than guideline minimum. Housing Payment history is XXXX*XXXX*XXXX or better.

XXXX

2165418

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2160021

1 of 5

XXXX

Compliance

HUD1 - Missing (All)

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
hud1

Response 1 (XX/XX/XXXX XX:XXAM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2160021

2 of 5

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

New finding based on rebuttal documents provided. This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2160021

3 of 5

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The loan file did not contain a Guaranty Agreement signed by XXXX as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160021

4 of 5

XXXX

Credit

DSCR - Missing HUD

XXXX

Missing HUD as required. The loan file did not contain a Final HUD-XXXX documenting the required cash to close and closing costs as required. Additional conditions may apply upon receipt.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
HUD1

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160021

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2163480

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163480

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163480

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA< dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2163445

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163445

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163445

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX.

Cleared

XXXX

2175237

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2175237

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175237

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2173173

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173173

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173173

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2176971

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176971

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176971

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2165622

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165622

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165622

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2177316

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177316

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177316

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2169639

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2169639

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2169639

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169639

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2163464

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163464

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163464

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2163452

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163452

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163452

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2163467

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163467

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163467

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2169634

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2169634

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169634

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2163876

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163876

2 of 3

XXXX

Credit

Title Commitment - Other

XXXX

The loan was a cash-out transaction with a partial reconveyance/pay-down of the existing mortgage to XXXX. The loan file is missing evidence of the partial release.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
release

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2163876

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2163456

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163456

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163456

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165623

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165623

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165623

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2169621

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169621

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169621

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2163462

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163462

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163462

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2167115

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167115

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Loan Amount. The lenders guidelines state the minimum loan amount is $XXXX. The subject loan was approved with a loan amount of $XXXX. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Received client approval of exception. (Waived)

XXXX

2167115

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2169627

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169627

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169627

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2175552

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175552

2 of 3

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. Total assets in the amount of $XXXX were required to be verified (cash to close $, Earnest money $XXXX, POC $XXXX, EMD $XXXX and reserves $XXXX). Assets in the amount of $XXXX were verified in the loan file. Therefore, there was a shortage of verified assets in the amount of $XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
bank stmt

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2175552

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2163469

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163469

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163469

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165423

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165423

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165423

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2173174

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2173174

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173174

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2165627

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2165627

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165627

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2169604

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169604

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169604

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163472

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163472

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163472

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2163877

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163877

2 of 3

XXXX

Credit

Contract Addendum - Missing

XXXX

The Final Hud-XXXX reflected a XXXX contribution of $XXXX that was not included in the purchase contract. The loan file is missing a contract addendum for the Seller Concessions/Contribution.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating Factors: XXXX qualifying credit score, Experienced investor, XXXXx30x58 month mortgage history

Compensating Factors: XXXX qualifying score, experienced investor, 0x30x58 mortgage history

XXXX

2163877

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2165629

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165629

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165629

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2165447

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165447

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165447

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2165441

1 of 3

XXXX

Compliance

Security Instrument - Missing

XXXX

The Security Instrument (Mortgage/Deed of Trust) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
mortgage

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165441

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165441

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2167120

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167120

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167120

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2176967

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2176967

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for XXXX. The master policy has no building ordinance or law coverage. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: LTV less than XXXX% and at least XXXX% less than guideline maximum, FICO higher than XXXX and at least XXXX points higher than guideline minimum, Monthly reserves are verified and at least XXXX months more than guideline minimum.

XXXX

2176967

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2165442

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165442

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165442

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2163476

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2163476

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163476

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2163878

1 of 3

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The Assignment of Leases & Rents Rider is missing pages XXXX & XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
all pages

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163878

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163878

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2169314

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169314

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for LTV. The lenders guidelines state the maximum LTV for a rural property is XXXX%. The lenders guidelines also state that the maximum LTV for an investor who does not have a history of managing short term rentals is XXXX%. The subject loan closed with an LTV of XXXX%. Client to approve downgrading finding based on compensating factors.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

Compensating Factors: XXXX higher than XXXX and at last XXXX points higher than guideline minimum and qualifying DSCR higher than XXXXx and at least 0.1x higher than guideline minimum.

XXXX

2169314

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2163479

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163479

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163479

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2173175

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173175

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173175

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2169595

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169595

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169595

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The cu score is XXXX.

Cleared

XXXX

2175567

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175567

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175567

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2167123

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167123

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167123

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165632

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165632

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165632

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175239

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

Acknowledged

XXXX

2175239

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175239

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165634

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165634

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165634

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2165436

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165436

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165436

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2175220

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175220

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175220

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163481

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163481

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163481

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2163887

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2163887

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163887

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165643

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2165643

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165643

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2176946

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176946

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176946

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2165437

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165437

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165437

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2169615

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2169615

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169615

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2167124

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167124

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167124

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2167125

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167125

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2167125

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2163888

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2163888

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2163888

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163888

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2169603

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169603

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169603

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2169324

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169324

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169324

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2169605

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169605

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169605

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2169643

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2169643

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169643

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
correct CDA

Response 1 (XX/XX/XXXX XX:XXPM)
CDA received is not for the subject property. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2169606

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169606

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169606

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2175554

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2175554

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for having a Land Contract. Client to approve downgrading finding based on compensating factors.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed. Land contract was paid in full. Noted Compensating factors: DSCR of XXXX, XXXX qualifying credit score, $XXXX verified reserves

Buyer Comment 2 (XX/XX/XXXX XX:XXPM)
Client reviewed. Land contract was paid in full. Noted Compensating factors: DSCR of XXXX, XXXX qualifying credit score, $XXXX verified reserves, XXXX% LTV

Compensating Factors: LTV less than XXXX%, and at least XXXX% less than guideline maximum. FICO higher than XXXX, and at least XXXX points higher than guidelines. Monthly reserves are verified and at least XXXX months more than guidelines minimum.

XXXX

2175554

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2173178

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173178

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173178

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2176945

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Vested Interest on the Security Instrument is inconsistent with the XXXX. Title reflects current Vested Interest as Mitchell XXXX and XXXX, whereas the Security Instrument reflects XXXX. There is no evidence of a transfer deed in the loan file for the change.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
QCD

Response 1 (XX/XX/XXXX XX:XXAM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2176945

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176945

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2172728

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172728

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172728

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2169315

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169315

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169315

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173202

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173202

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173202

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2169611

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169611

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169611

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2169319

1 of 3

XXXX

Compliance

HUD1 - Missing (All)

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
SS

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2169319

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169319

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2172729

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172729

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172729

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2163490

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2163490

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163490

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2169618

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169618

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169618

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2177313

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2177313

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The XXXX require a certificate of good standing or equivalent document. Despite this requirement, the loan file is missing the certificate of good standing or equivalent document.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
cogs

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177313

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2176949

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176949

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176949

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2167126

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2167126

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
HOI

Response 1 (XX/XX/XXXX XX:XXAM)
Document received. (Resolved)

XXXX

2167126

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2172738

1 of 7

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172738

2 of 7

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. Total assets in the amount of $XXXX were required to be verified (cash to close $XXXX, Earnest money $XXXX, POC of $XXXX and reserves $XXXX). Assets in the amount of $XXXX were verified in the loan file. The loan file did not contain any assets. Therefore, there was a shortage of verified assets in the amount of $XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Statement provided; we have $XXXX verified with XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2172738

3 of 7

XXXX

Credit

Condo - Documentation

XXXX

Loan file did not contain required condo documentation (Master HOI, XXXX, Condo Budget, Project Review).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Master provided

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
It is detached and exempt from condo review

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX is new with XXXX phases. Still missing remaining documentation. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2172738

4 of 7

XXXX

Credit

Contract - Missing

XXXX

The file contained no evidence of a properly executed sales contract.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2172738

5 of 7

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
HOI Provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2172738

6 of 7

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment/policy is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Title provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2172738

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2168025

1 of 7

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168025

2 of 7

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The borrower was required to evidence $XXXX in reserves. This is in addition to the requirement of $XXXX in funds to close, prepaid items and earnest money deposit. Therefore, the borrower was required to evidence a total of $XXXX in funds for the subject transaction. The loan file contained no evidence of qualifying assets. As a result, there is a $XXXX shortage in verified assets.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Assets

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (REsolved)

XXXX

2168025

3 of 7

XXXX

Credit

Contract - Missing

XXXX

The file contained no evidence of a properly executed sales contract. The loan file does not contain a purchase contract.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168025

4 of 7

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property. The loan file did not contain any evidence of hazard insurance coverage for the subject.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ATTACHED

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168025

5 of 7

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Lease

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168025

6 of 7

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment is missing. The loan file does not contain a title commitment.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Title

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168025

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2165451

1 of 7

XXXX

Compliance

Note - Incomplete

XXXX

The Note was executed by an entity, but the entity documents are missing. Unable to determine if signatures on note are accurate.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Bus docs

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165451

2 of 7

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The Legal Description "Exhibit A" is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
DOT_LEGAL

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165451

3 of 7

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The Mortgage was executed by an entity, but the entity documents are missing. Unable to determine if signatures on mortgage are accurate.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Bus docs

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165451

4 of 7

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2165451

5 of 7

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing all entity documentation per guidelines. The loan file did not contain Articles of Organization, Certificate of Good Standing, Operating Agreement, or EIN # for the subject entity, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
VOE DOCS

Response 1 (XX/XX/XXXX XX:XXAM)
Documents received. (Resolved)

XXXX

2165451

6 of 7

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment/policy is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Title

Response 1 (XX/XX/XXXX XX:XXAM)
Document received. (Resolved)

XXXX

2165451

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2172742

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172742

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172742

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2169649

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169649

2 of 4

XXXX

Credit

Credit Report - Other

XXXX

There are additional credit findings. Borrowers letter states that they are also refinancing XXXX however there are no supporting documents to determine what the new monthly mortgage payment is going to be to determine the correct DTI. Please provide supporting documents for the refinance of XXXX, additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CD

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2169649

3 of 4

XXXX

Credit

Income - Tax Return Documentation Incomplete

XXXX

Tax returns where used to determine the borrowers income at initial underwrite however no tax returns personal or business have been provided to correctly calculate self-employed income in the amount of $XXXX from XXXX along with calculating the rental income from the borrowers rental properties. The income worksheet provided at time of review reflects the calculation of how the income was derived however nothing to support that. Provide tax returns for both personal and business to correctly calculate the income.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Taxes

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2169649

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2173193

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2173193

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173193

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173182

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2173182

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173182

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175245

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175245

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175245

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175221

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175221

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175221

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2172731

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172731

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172731

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report date dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2169620

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169620

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Exception in file as the subject loan does not meet Program Parameters for the subject property being located in a Central Frame Business District. The lenders guidelines state commercial properties are ineligible. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: FICO higher than XXXX, and at least XXXX points higher than guideline minimum, monthly reserves are verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than XXXXx and at least 0.1x higher than guidelines minimum.

XXXX

2169620

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2168026

1 of 7

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2168026

2 of 7

XXXX

Credit

Assets - Cash to Close

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Assets

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168026

3 of 7

XXXX

Credit

Contract - Missing

XXXX

The file contained no evidence of a properly executed sales contract. The loan file does not contain a purchase contract.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX contract

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168026

4 of 7

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property. The loan file did not contain any evidence of hazard insurance coverage for the subject.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
HOI

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168026

5 of 7

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Lease

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168026

6 of 7

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment is missing. The loan file does not contain a title commitment.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Title

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2168026

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2175228

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175228

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175228

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2172733

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172733

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172733

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173184

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173184

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173184

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2175232

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2175232

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The loan file is missing the Certificate of Good Standing for the borrowing entity known as XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
OA provided is within XXXX days of closing, this is sufficient to confirm business is in good standing prior to close

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2175232

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2172734

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172734

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The condo master insurance policy is missing the mortgagee clause reflecting the lender's name.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Per guideline, this is not required unless the condo policy is a Walls-In policy

Response 1 (XX/XX/XXXX XX:XXAM)
DR agrees. Finding has been voided. (Void)

XXXX

2172734

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2175231

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175231

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175231

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan contains a CU Score of XXXX

Cleared

XXXX

2176951

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176951

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176951

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2172735

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2172735

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2172735

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175564

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175564

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175564

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2176953

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176953

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176953

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2175229

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2175229

2 of 3

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The guidelines indicate the subject property’s existing mortgage (refinance transaction) must be current at the time of application and the month prior to the note date. The loan file is missing evidence of the XX/XX/XXXX and XX/XX/XXXX mortgage payment for the subject property.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: Experienced Investor, DSCR of XXXX, $XXXX verified reserves, XXXX% LTV

Compensating Factors: Experienced Investor, XXXX% LTV, $XXXX verified reserves, DSCR of XXXX

XXXX

2175229

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2169322

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169322

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169322

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2173188

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173188

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173188

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2175230

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175230

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175230

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2169630

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169630

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169630

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2177327

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177327

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for square footage. The Origination Appraiser indicated the Unit XXXX has a square footage of XXXX. Lender guides state minimum square footage per unit is XXXX ft. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approved

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
please see approval from XXXX&#XXXX;s credit desk.

Compensating Factors: DSCR >XXXX, over XXXX months of reserves, DSCR XXXX without smaller unit

XXXX

2177327

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2175238

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175238

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175238

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2175559

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175559

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175559

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2173201

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2173201

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173201

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2176963

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176963

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176963

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value.

Cleared

XXXX

2176954

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176954

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176954

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2173190

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2173190

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The guidelines indicate, for refinance transactions, the existing policy must extend a minimum of XXXX days beyond the date of closing. If the policy will expire within XXXX days, then a XXXX-day binder or evidence of renewal for XXXX year is required. The policy expiration date of XX/XX/XXXX is less than XXXX days (XXXX days) from the XX/XX/XXXX Note date. The loan file is missing a XXXX-day Binder and/or evidence of renewal for XXXX year.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating Factors: Experienced Investors, XXXX% LTV, $XXXX verified reserves, XXXX qualifying credit score

Compensating Factors: Experienced Investors, XXXX% LTV, $XXXX verified reserves, XXXX qualifying credit score

XXXX

2173190

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2169650

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169650

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169650

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2169646

1 of 3

XXXX

Compliance

Note - Missing Signature

XXXX

The Note was not fully executed by the borrower.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Note

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2169646

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169646

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2176956

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176956

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176956

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value.

Cleared

XXXX

2175562

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175562

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175562

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2177324

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177324

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177324

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2177320

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177320

2 of 5

XXXX

Credit

Assets - Minimum Reserves

XXXX

The Borrower was required to evidence $XXXX for the subject transaction, to include $XXXX EMD, $XXXX closing funds and $XXXX PITI Reserves ($XXXX x XXXX). The file contains asset statements verifying $XXXX. The XXXX was short $XXXX in required reserves.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX% LTV, DSCR of XXXX

Compensating Factors: XXXX% LTV, DSCR of XXXX

XXXX

2177320

3 of 5

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The guidelines indicate that an EIN/W9 is required for loans vesting in an LLC. The EIN Form in the loan file is for XXXX and not the borrowing entity, XXXX. The loan contains a W-XXXX for the natural borrower but not the borrowing LLC. The loan file is missing the EIN/W-XXXX for the borrowing entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
EIN number correct, name change

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177320

4 of 5

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The Operating Agreement provided for the borrowing entity, XXXX, is not executed by the Borrower/Guarantor Sara Sayed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
OA

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2177320

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2176959

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176959

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176959

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2176960

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX, CEMA XXXX. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2176960

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176960

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2176968

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2176968

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2176968

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2177335

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177335

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177335

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173200

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2173200

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2173200

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2177326

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177326

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177326

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2177337

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177337

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177337

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2175244

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2175244

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175244

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175578

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175578

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175578

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2177329

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177329

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177329

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2177340

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX and XXXX, however the mortgage lists XXXX. A deed transferring ownership interest from XXXX and XXXX to XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
QCD

Response 1 (XX/XX/XXXX XX:XXAM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2177340

2 of 3

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Lender exception provided for tenant occupied property with only a verbal lease in place. XXXX non-material based in compensating factors. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

Compensating factors - FICO of XXXX and XXXX months of post-closing reserves.

XXXX

2177340

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX

Cleared

XXXX

2177339

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2177339

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2177339

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2164849

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2164849

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guidelines require XXXX month housing history on the primary residence through month of funding. The file contains verification of housing history with XX/XX/XXXX due date; however, the loan closed XX/XX/XXXX. Verification of the XX/XX/XXXX payment is missing, as required.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The XXXX/XXXX payment did not need to be verified as payment due date was XXXX/XXXX and our closing date was XXXX/XXXX so there is no way it could have been XXXX days late by the time of closing.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2164849

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2175306

1 of 5

XXXX

Compliance

TRID - CD/Payee Not Listed

XXXX

The loan contains the following fee or fees where 'compensation to' does not reflect a XXXX on the revised CD Section B.

Acknowledged

XXXX

2175306

2 of 5

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
I agree with the credit report needing cured...but the XXXX was increased with a CIC.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. The Initial CD has been provided. (Resolved)

XXXX

2175306

3 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Appraisal and Credit Report Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
I agree with the credit report needing cured...but the XXXX was increased with a CIC.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
ICD1

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Please see attached to clear

Rebuttal 4 (XX/XX/XXXX XX:XXPM)
Loan was originated as business purpose exempt.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The COC for the Appraisal fee increase has a valid reason for the increase due to a property change; however, the increase was not disclosed until the CD issued on XX/XX/XXXX. The XXXX invoice dated XX/XX/XXXX discloses the fee increase indicating the Lender was aware of the change on XX/XX/XXXX and did not disclose the change within XXXX days as required. A cost to cure in the amount of $XXXX is required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The documentation provided is not sufficient to cure the finding. the Initial CD has been provided; and testing still results in a XXXX% tolerance violation. The COC for the Appraisal fee increase has a valid reason for the increase due to a property change; however, the increase was not disclosed until the CD issued on XX/XX/XXXX. The XXXX invoice dated XX/XX/XXXX discloses the fee increase indicating the Lender was aware of the change on XX/XX/XXXX and did not disclose the change within XXXX days as required. A cost to cure in the amount of $XXXX is required. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The LOE and PCCD have been provided showing the principal reduction in the amount of $XXXX. Please provide a screen shot or other evidence from the Lender's system as proof that the Principal Reduction was applied to the loan. (XXXX)

Response 4 (XX/XX/XXXX XX:XXPM)
Loan was originated as business purpose exempt. TRID exception cleared. (Resolved)

XXXX

2175306

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175306

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supported the appraised value.

Cleared