Exhibit 99.25
| Conditions Report 2.0 | ||||||||||||||||||||||||||||||||||||
| Loans in Report: | 8 | |||||||||||||||||||||||||||||||||||
| Loans with Conditions: | 2 | |||||||||||||||||||||||||||||||||||
| Loan Number | Original Principal Balance | State | Initial Lender ATR/QM Status | Loan Level ATR/QM Status | Initial Securitization Overall Loan Grade | Final Securitization Overall Loan Grade | Initial Securitization Credit Loan Grade | Final Securitization Credit Loan Grade | Initial Securitization Property Valuations Loan Grade | Final Securitization Property Valuations Loan Grade | Initial Securitization Compliance Loan Grade | Final Securitization Compliance Loan Grade | Initial S&P Overall Loan Grade | Final S&P Overall Loan Grade | Initial S&P Credit Loan Grade | Final S&P Credit Loan Grade | Initial S&P Property Valuations Loan Grade | Final S&P Property Valuations Loan Grade | Initial S&P Compliance Loan Grade | Final S&P Compliance Loan Grade | Condition Category | Condition Sub Category | Condition Status | Initial Securitization Condition Grade | Final Securitization Condition Grade | Initial S&P Condition Grade | Final S&P Condition Grade | Condition Code | Condition Description | Condition Material Indicator | Initial Comments | Client/Seller Response Comments | Conclusion Comments | TRID Error Type | Cure Method | Compensating Factors |
| 6501767 | XXXXXX | WA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1744:
DTI below guideline requirement - Clayton Comments: DTI 30.67% is below the guideline maximum of 50%.Custom payment DTI is 32.43%. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Credit score of 781 is above minimum program requirement of 700. CFCFS1737: LTV below guideline requirements - Clayton Comments: CLTV is 79.685%; guidelines allow 90%. |
|||||||||||||||
| 6501768 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1731: Verified cash
reserves exceed guidelines - Clayton Comments: Cash reserves = $121,195.99, 24.01 months. No reserves required. CFCFS5269: Minimal use of credit - Clayton Comments: Borrower has minimal credit usage ratio of 0%. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Credit score of 797 exceeds minimum required 740. |
|||||||||||||||
| 6563006 | XXXXXX | AZ | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1737: LTV below
guideline requirements - Clayton Comments: 64.39% CLTV per review; 90% CLTV is maximum allowed per guidelines. CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: 184 months of 0x30 mortgage history per CBR; 12 months required. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 21.17 months of reserves in file. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 753 qualifying mid-score per CBR; 740 minimum required per guidelines. |
|||||||||||||||
| 6525279 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1741: Credit score
exceeds guidelines - Clayton Comments: Credit score of750 is above the required 680 CFCFS1737: LTV below guideline requirements - Clayton Comments: CLTV of 59.27 is below the maximum allowable of 80 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves: $172,957.49 or 39.72 months verified. 0 months required. |
|||||||||||||||
| 6563003 | XXXXXX | VA | (No Data) | ATR/QM: Exempt | C | B | A | A | A | A | C | B | C | B | A | A | A | A | C | B | Compliance | RESPA | Waived | B | B | B | B | CMPRESPA2698 | RESPA - List of homeowners counseling organizations not in file | No | Please provide List of homeowners counseling organizations | 05-19-26 - Acknowledged by client | 05-19-26 - Non-material exception remains. | (No Data) | Not Applicable | CFCFS1741: Credit score
exceeds guidelines - Clayton Comments: 760 FICO score is above the 740 min. CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: 3 years of mortgage history is above the required 1. CFCFS1744: DTI below guideline requirement - Clayton Comments: 8.73% DTI is below the 50% max |
| 6563003 | XXXXXX | VA | (No Data) | ATR/QM: Exempt | C | B | A | A | A | A | C | B | C | B | A | A | A | A | C | B | Compliance | TILA | Satisfied | C | A | C | A | CMPTILA3200 | TILA - HELOC Early Disclosure not provided within 3 business days of application | No | Please provide early disclosure within 3 bus days of application | 5.15.26-Client provided HELOC Early Disclosure with proof of date sent via full disclsoure tracking details. Satisfied. | 5.15.26- Satisfied. | (No Data) | Not Applicable | CFCFS1741: Credit score
exceeds guidelines - Clayton Comments: 760 FICO score is above the 740 min. CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: 3 years of mortgage history is above the required 1. CFCFS1744: DTI below guideline requirement - Clayton Comments: 8.73% DTI is below the 50% max |
| 6563005 | XXXXXX | WA | (No Data) | ATR/QM: Exempt | C | A | C | A | A | A | A | A | C | A | C | A | A | A | A | A | Credit | Credit/Mtg History | Satisfied | C | A | C | A | CRDCRMH1805 | Debts/obligations not disclosed/accounted for at origination | No | Missing additional mortgage payment information, loan application XXX noted in application but no additional details or payment information provided or accounted for | 4-30-26 This loan XXX has not funded yet. Current status is we just got the appraisal.5-4-26 Client replied: Uploaded is LE for HEM #XXX confirming est pmt for refinance of 1st TD for primary. | 4-30-26 Clayton reviewed response. Loan has a current DTI of 39.87% and requires all debt verification. Please provide satisfactory evidence of estimated PITIA so DTI can be finalized. Exception remains. 5-4-26 Clayton reviewed LE for HEM #XXX which is also for the subject property. If closed at $XXXX per LE the PI would be $140.70 lower per month. No change in DTI since payment should be decreasing and loan has not closed. Exception satisfied. | (No Data) | Not Applicable | CFCFS1737: LTV below
guideline requirements - Clayton Comments: CLTV of 35.46 is below the maximum allowable of 90 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves: $90,134.12 verified. 0 months required. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Credit score of777 is above the required 740 |
| 6563007 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1736: Significant time
at current residence - Clayton Comments: 12.2 years living at primary residence. CFCFS1744: DTI below guideline requirement - Clayton Comments: Borrowers DTI 40.80% is below guideline maximum 50%. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post closing assets $300,160.13 / 37.05 months PITIA > None required. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 806 mid score > min required of 740. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: Borrower has 0x30 for 248 months. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 21.92%; guidelines allow 75%. |
|||||||||||||||
| 6569845 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1741: Credit score
exceeds guidelines - Clayton Comments: Credit score of767 is above the required 740 CFCFS1744: DTI below guideline requirement - Clayton Comments: ATR DTI of 42.06 is below the maximum allowableof 50 CFCFS1737: LTV below guideline requirements - Clayton Comments: CLTV of 68.28 is below the maximum allowable of 90 |