MORGAN STANLEY CAPITAL I INC. ABS-15G

Exhibit 99.5 - Schedule 7

 

MSID Loan Number Originator Last Name Note Date Original Balance State TPR QM ATR Status Loan Status Exception Date Remediation Status Exception ID Exception Type Exception Category Exceptions Exception Rebuttal Exception Rebuttal Date Exception Rebuttal Response Exception Rebuttal Response Date Compensating Factors Initial Overall Loan Grade Final Overall Loan Grade Initial Exception Grade Final Exception Grade Initial Credit Grade Final Credit Grade Initial Property Valuation Grade Final Property Valuation Grade Initial Compliance Grade Final Compliance Grade Initial Overall Grade (DBRS/Morningstar) Initial Credit Grade (DBRS/Morningstar) Initial Property Valuation Grade (DBRS/Morningstar) Initial Compliance Grade (DBRS/Morningstar) Initial Overall Grade (Fitch) Initial Credit Grade (Fitch) Initial Property Valuation Grade (Fitch) Initial Compliance Grade (Fitch) Initial Overall Grade (Kroll) Initial Credit Grade (Kroll) Initial Property Valuation Grade (Kroll) Initial Compliance Grade (Kroll) Initial Overall Grade (Moodys) Initial Credit Grade (Moodys) Initial Property Valuation Grade (Moodys) Initial Compliance Grade (Moodys) Initial Overall Grade (S&P) Initial Credit Grade (S&P) Initial Property Valuation Grade (S&P) Initial Compliance Grade (S&P) Final Overall Grade (DBRS/Morningstar) Final Credit Grade (DBRS/Morningstar) Final Property Grade (DBRS/Morningstar) Final Compliance Grade (DBRS/Morningstar) Final Overall Grade (Fitch) Final Credit Grade (Fitch) Final Property Grade (Fitch) Final Compliance Grade (Fitch) Final Overall Grade (Kroll) Final Credit Grade (Kroll) Final Property Grade (Kroll) Final Compliance Grade (Kroll) Final Overall Grade (Moodys) Final Credit Grade (Moodys) Final Property Grade (Moodys) Final Compliance Grade (Moodys) Final Overall Grade (S&P) Final Credit Grade (S&P) Final Property Grade (S&P) Final Compliance Grade (S&P)
9985089 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/13/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 01/14/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
9985089 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 01/14/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
9985089 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/14/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10025880 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/13/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 01/15/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10025880 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 01/15/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10025880 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/14/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/15/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
9977641 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 12/30/2025 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational Only; Investor acknowledges exception; Informational Only; Investor Acknowledges exception; Informational Only 01/14/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 54.97% is less than Guideline CLTV of 65% | Original LTV is Below the Guideline Maximum - Calculated LTV of 54.97% is less than Guideline LTV of 65% D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
9977641 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 12/31/2025 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational Only; Investor acknowledges exception; Informational Only; Investor Acknowledges exception; Informational Only 01/14/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 54.97% is less than Guideline CLTV of 65% | Original LTV is Below the Guideline Maximum - Calculated LTV of 54.97% is less than Guideline LTV of 65% D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
9977641 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 12/30/2025 Resolved FCRE1201 Credit Third Party Fraud Report not Provided Missing Third Party Fraud Report Missing the required 3rd party fraud report for each borrower. Document Uploaded. Fraud Report 01/07/2026 Third Party Fraud Report is provided; Fraud provided 01/07/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 54.97% is less than Guideline CLTV of 65% | Original LTV is Below the Guideline Maximum - Calculated LTV of 54.97% is less than Guideline LTV of 65% D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
9977641 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 12/31/2025 Resolved FCRE2109 Credit Missing Lender Income Calculation Worksheet DSCR guidelines require documentation detailing the DSCR calculation. The XXX does not indicate the calculation used and there is no DSCR Calculation Worksheet in the file. Document Uploaded. DSCR Calc 01/07/2026 DSCR calculation provided 01/07/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 54.97% is less than Guideline CLTV of 65% | Original LTV is Below the Guideline Maximum - Calculated LTV of 54.97% is less than Guideline LTV of 65% D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10065417 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 01/21/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 65% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 65% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10065417 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 01/21/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 65% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 65% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10065417 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/21/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 65% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 65% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263006 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/15/2026 Resolved FCRE5116 Credit Missing VOM or VOR Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. The lender's guidelines require housing payment history to be evidenced by XXX months proof of payment via cancelled checks, bank debits, or institutional VOM. A credit report cannot be used to evidence the housing payment history. The loan file was missing the required documentation for the mortgages. We disagree with the finding. Credit supplement was provided showing that the mortgage holders were contacted directly to provide payment verification. This is considered a institutional VOM, since it's not using just standard tradeline reporting. 01/23/2026 Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing; Client States: Credit supplement was provided showing that the mortgage holders were contacted directly to provide payment verification. Credit Supplemental Report in file shows XXX, XXX account XXX, Verified per conference call with the borrower and rep XXX Last payment made XX/XX/XXXX and Next Due XX/XX/XXXX late payment verified. LM Updated. 01/26/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B D A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263006 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/15/2026 Rescinded FCRE8201 Credit Loan does not conform to program guidelines The lender's guidelines relelct any loan scenario meeting the definition of "high cost" "high risk", "covered", "subprime" or any simliar designations under State or local laws are not eligible. The Compliance Report reflected an alert for the Higher-Priced Covered Transaction. The loan's XXX% APR equals or exceeds the Regulation Z Section Higher-Priced Covered Transaction threshold of XXX%. We disagree with the finding. The guideline you quoted specifically points to State or local laws, not federal. State "High Cost" or "Predatory" laws typically have much higher thresholds than the federal standard. 01/21/2026 Mavent passes High cost test, failed atm QR 01/23/2026   D B C A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263006 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/15/2026 Acknowledged FCRE6100 Credit Audited Interested Party Contribution Exceeds Guideline Program Maximum Audited Interested Party Contribution of XXX% exceeds interested party contribution guideline maximum of XXX% Lender approved exception granted at time of origination to allow interested party contributions to exceed the XXX% reflected in guidelines. Approval was based upon the following compensating factors: XXX XXX mortgage history, FICO XXX points above minimum, reserves greater than XXX months, and time at residence greater than XXX years.         Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B B B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153927 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Cleared 01/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Borrower has stable job time - Borrower has XXX years on job. A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153927 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines. The loan meets all applicable credit guidelines.     Cleared 01/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Borrower has stable job time - Borrower has XXX years on job. A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153927 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Cleared 01/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Borrower has stable job time - Borrower has XXX years on job. A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153928 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Cleared 01/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153928 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines. The loan meets all applicable credit guidelines.     Cleared 01/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153928 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/19/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Cleared 01/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153948 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/21/2026 Resolved FCRE0360 Credit Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. The lender's guidelines require the housing payment history to be evidenced by XXX months proof of payment via cancelled checks, bank debits, or institutional VOR/VOM. A credit report cannot be used to evidence the housing payment history. The loan file contained the VOR for current primary and the credit report history for the subject property mortgage. The loan file was missing the required documentation for the subject property mortgage. Document Uploaded. Please see XXX to use the XXX. 01/30/2026 Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present.; Client provided Email from XXX @ XXX States: The mortgage Statement reflecting the payment due XX/XX/XXXX documents that the XXX payment was made. At this time, I'm unable to enter an exception request form into XXX since the loan is purchased. Can you please confirm that this email approval is sufficient to document an approved exception to use the credit report to verify the mortgage payment history? Exception Approved: Credit Report being utilized to verify the XXX #XXX mortgage payment history. 02/02/2026   C A C A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10153948 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Cleared 01/22/2026   C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10153948 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/21/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Cleared 01/22/2026   C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10153943 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/23/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 01/27/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153943 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/23/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 01/27/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153943 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/23/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/27/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153938 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/26/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Cleared 01/28/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX B B A A B B A A A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A
10153938 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Cleared 01/28/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX B B A A B B A A A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A
10153938 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/26/2026 Acknowledged FCRE5116 Credit Missing VOM or VOR Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Lender approval exception grated at time of origination to allow utilization of the credit report for mortgage history. Approval based upon the following: XXX Mortgage History and Reserves greater than XXX months than requirement.         Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX B B B B B B A A A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A
10153940 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Acknowledged FCRE0360 Credit Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. The lender's guidelines require housing payment history to be evidenced by XXX months proof of payment via cancelled checks, bank debits, or institutional VOR/VOM. A credit report cannot be used to evidence the housing payment history. The VOR was provided for B1. Missing VOM's for B2 for mortgage with XXX #XXX and B3 for mortgage with XXX #XXX. The loan file contained an Exception approval form, dated XX/XX/XXXX; however, the approval in the file does not have description of exception request or the adjustments. The borrowers are first time investors and per the guidelines, exceptions are not allowed. Document Uploaded. See attached which allows use of the credit report to verify the mortgage history. See the middle comments. 01/30/2026 Client provided Lender Exception dated XX/XX/XXXX reflecting Exception to use the credit report to verify the mortgage payment history based on XX/XX/XXXX guidelines and to wave the negative impact letter for the business assets. (The 3rd borrower does not have rental mgmt history).; Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. The lender's guidelines require housing payment history to be evidenced by XXX months proof of payment via cancelled checks, bank debits, or institutional VOR/VOM. A credit report cannot be used to evidence the housing payment history. The VOR was provided for B1. Missing VOM's for B2 for mortgage with XXX #XXX and B3 for mortgage with XXX #XXX. The loan file contained an Exception approval form, dated XX/XX/XXXX; however, the approval in the file does not have description of exception request or the adjustments. The borrowers are first time investors and per the guidelines, exceptions are not allowed. 02/02/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C B C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10153940 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 01/29/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10153940 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/29/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10153931 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Acknowledged FVAL5524 Property Ineligible Property Lender approval exception granted at time of origination to allow the subject property being Rural. Compensating factors: FICO XXX points above minimum, Reserves greater than XXX months requirement, Time at residence greater than XXX years. Please adjust the grade for this finding to XXX - Non-Material 03/12/2026     Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Borrower has stable job time - Borrower has XXX years on job. D B C B D B C B A A D D C A D D C A D D C A D D C A D D C A B B B A B B B A B B B A B B B A B B B A
10153931 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Acknowledged FCRE3000 Credit Borrower Rental Experience Not Within Guidelines Borrower Rental Experience Not Within Guidelines The lender's guidelines State the DSCR program is eligible for professional investors only. Professional investors must have at least XXX months experience owning and/or managing income producing real eState within the most XXX months from the XXX of the subject transaction. The borrower provided a letter on experience which does not reflect the required experience owning and/or managing income producing real eState. First-time investors are allowed; however, no exceptions can be given. The subject loan has an approved exception for the property being rural. Document Uploaded. We disagree with this finding. The borrower provided a letter in file detailing his prior experience. While these parcels were acquired primarily for development rather than immediate rental cash flow, their active management directly created realizable value. By transforming landlocked parcels into viable residential lots through road construction and right-of-way acquisition, he effectively managed the asset to produce capital appreciation significantly exceeding standard rental yields. This active development experience is to be considered as satisfying the intent of the "income-producing" management requirement. 02/09/2026 Exception received from client. ; Borrower Rental Experience Not Within Guidelines 02/12/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Borrower has stable job time - Borrower has XXX years on job. D B C B D B C B A A D D C A D D C A D D C A D D C A D D C A B B B A B B B A B B B A B B B A B B B A
10153931 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FCRE5116 Credit Missing VOM or VOR Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. The lender's guidelines require the housing payment history to be evidenced by XXX months proof of payment via cancelled checks, bank debits, or institutional VOR/VOM. A credit report cannot be used to evidence the housing payment history. The loan file was missing the required documentation for mortgages with XXX on the primary residence located at XXX XXX The 1st loan number #XXX and the 2nd is #XXX on application and credit report. Mortgage Statement on 2nd reflects last XXX of account number as #XXX. Document Uploaded. Please see the exception to use the CBR. 02/04/2026 Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing; Exception evidence in file. Client acknowledgment. ; Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. The lender's guidelines require the housing payment history to be evidenced by XXX months proof of payment via cancelled checks, bank debits, or institutional VOR/VOM. A credit report cannot be used to evidence the housing payment history. The loan file was missing the required documentation for mortgages with XXX on the primary residence located at XXX XXX The 1st loan number #XXX and the 2nd is #XXX on application and credit report. Mortgage Statement on 2nd reflects last XXX of account number as #XXX. 02/05/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Borrower has stable job time - Borrower has XXX years on job. D B D A D B C B A A D D C A D D C A D D C A D D C A D D C A B B B A B B B A B B B A B B B A B B B A
10153931 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/29/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Borrower has stable job time - Borrower has XXX years on job. D B A A D B C B A A D D C A D D C A D D C A D D C A D D C A B B B A B B B A B B B A B B B A B B B A
9844381 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 01/28/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
9844381 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 01/28/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
9844381 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/27/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/28/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153941 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/29/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 01/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153941 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/29/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines. The loan meets all applicable credit guidelines.     Informational 01/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153941 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 01/30/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 01/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153945 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/04/2026 Resolved FCRE3978 Credit Missing Letter of Explanation (Credit)   Document Uploaded. 02/09/2026 Client provided LOE for XXX day inquiries. LM Updated. 02/10/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153945 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/03/2026 Rescinded FCRE0386 Credit Borrower 1 Photo Identification not provided Borrower 1 Photo Identification not provided. The loan file was missing the photo identification for Borrower 1. The loan closed in the name of an entity, no Patriot Act disclosure is required. The loan file contains documentation to support the companies egal existence is confirmed through articles of organization, certificates of good standing. 02/06/2026 Rescinded. ; Borrower 1 Photo Identification not provided. The loan file was missing the photo identification for Borrower 1. 02/09/2026   D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153945 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/03/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/06/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153945 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/04/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 02/06/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153946 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/03/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/06/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153946 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/04/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 02/06/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153946 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/04/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines. The loan meets all applicable credit guidelines.     Informational 02/06/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153932 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/16/2026 Resolved FCRE7347 Credit Missing Lease Agreement The lender's guidelines require a copy of an Executed Lease Agreement when the lower amount is used. The XXX underwriter comments section reflected the property was rented for XXX per month with a final DSCR ratio of XXX. The loan file is missing the lease agreement. Document Uploaded. ; Per the XX/XX/XXXX profiles, Gross Rental Income is calculated using the lower of XXX or executed lease agreements. However, this guideline was not changed until Feb XXX that required both to be in file. Therefore, the guideline at the time allowed use of either or - however, if both were provided it would be the lesser of the two. As leases were not provided in file, Market Rents could be used. 04/08/2026 Client provided Lease Agreement XX/XX/XXXX reflecting monthly rental payments of XXX LM Updated.; XXX States that the DSCR is based on XXX Monthly Current Lease. Lease required to verify the amount. 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 35.48% is less than Guideline CLTV of 75% | Original LTV is Below the Guideline Maximum - Calculated LTV of 35.48% is less than Guideline LTV of 75% D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153932 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/16/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational Only 03/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 35.48% is less than Guideline CLTV of 75% | Original LTV is Below the Guideline Maximum - Calculated LTV of 35.48% is less than Guideline LTV of 75% D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153933 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/16/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines. The loan meets all applicable credit guidelines.     Informational Only 03/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153933 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/16/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational Only 03/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153944 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/16/2026 Resolved FCRE7497 Credit Missing verification of taxes, insurance, and/or HOA fees for non-subject property Primary owned "free and clear" and evidence of property taxes and HOI missing. Guidelines require evidence all property expenses to be current or no more than XXX to satisfy housing history. There are no obligations indicated on the 1003. As the loan is XXX, hazard insurance is not mandatory, As such, the loan file contained the property summary report - confirming no tax delinquencies. ; The guideline does not say this. It specifically States all mortgages and rental payments, it does not mention anything around HOI or Property Taxes for XXX REOs non-subject. 03/20/2026 Client States: There are no obligations indicated on the 1003. As the loan is XXX, hazard insurance is not mandatory, As such, the loan file contained the property summary report - confirming no tax delinquencies. Property Detail in file. LM Updated.; Client States: The guideline does not say this. It specifically States all mortgages and rental payments, it does not mention anything around HOI or Property Taxes for XXX REOs non-subject. However, XXX Non-QM_DSCR XXX dated XXX - Credit: Liabilities reflects: Housing and mortgage related obligations, including property taxes, insurance premiums, mortgage insurance and similar charges that are required by creditor, ground rents, and leasehold payments must be fully documented on the Scheduled of REO section of the 1003 for the subject property. These obligations must be verified using XXX reliable records such as taxing authority, or local government records, homeowner’s association billing Statements, or information obtained from a valid and legally executed contract. 03/20/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153944 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/16/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational Only 03/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153942 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational Only 03/17/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 50% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 50% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Borrower has stable job time - Borrower has XXX years on job. A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153942 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/13/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational Only 03/17/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 50% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 50% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Borrower has stable job time - Borrower has XXX years on job. A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153929 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/09/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153929 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/09/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 02/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153929 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/09/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 02/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153926 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCRE8201 Credit Loan does not conform to program guidelines The lender guideline requires All loans to include documentation in the file that transaction was either: Not GSE eligible or The price and/or terms of the transaction in the DSCR program was more beneficial to the borrower than the comparable GSE program. This was not found in the loan file. Disagree with the finding. This requirement is only applicable on XXX income loans. As this is a DSCR loan, based on how income is calculated, this is not a GSE eligible loan therefore the requirement is XXX. 02/17/2026 Client States: Disagree with the finding. This requirement is only applicable on XXX income loans. As this is a DSCR loan, based on how income is calculated, this is not a GSE eligible loan therefore the requirement is XXX. 02/18/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A C A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10153926 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10153926 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10153934 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCRE1491 Credit Asset Qualification Does Not Meet Guideline Requirements Asset Qualification Does Not Meet Guideline Requirements XXX business bank account #XXX reflects a 3rd party as sole proprietor. Guidelines require that this 3rd party provide a signed and dated letter acknowledging the transaction and borrower's XXX% access to the funds. We disagree. These funds were not used and not needed for qualifying. 02/19/2026 Asset Qualification Meets Guideline Requirements.; Asset Qualification Meets Guideline Requirements.; Client States: We disagree. These funds were not used and not needed for qualifying. LM Updated. 06/23/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B C A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153934 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCRE9780 Credit Business Purpose Affidavit/Disclosure Missing Business Purpose Affidavit/Disclosure Missing The Business Purpose Affidavit in file is notarized but is not signed by the borrower. Document Uploaded. 03/05/2026 Business Purpose Affidavit/Disclosure Provided; Client provided Executed Purpose Affidavit/Disclosure. LM Updated. 03/06/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B D A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153934 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE5116 Credit Missing VOM or VOR Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Missing VOMs for mortgages with XXX and XXX. Guidelines dated XX/XX/XXXX do not allow use of the credit report to document the payment history. There is an exception in the file requesting use of the XX/XX/XXXX guidelines, which allows use of credit report, but the exception was denied by XXX. Document Uploaded. See SLE 02/23/2026 Client provided Exception Approval. XXX #XXX to use the credit report and mortgage Statement to verify the XXX Bank mortgage history. Loan Specifics: XXX: XXX LTV: XXX% FICO: XXX DSCR Ratio: XXX Loan Purpose: Purchase, Appraised Value: $XXX. 02/24/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B D B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153934 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153934 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE9785 Credit Purchase Contract is Incomplete Loan Purpose is Purchase but Purchase Contract Doc is Incomplete File contains only the contract addendums. A complete copy of the contract is required. Contract must reflect the XXX in seller concessions. Acknowledged. 02/23/2026 Unable to Resolve-Acknowledged, accepting 2/B grading 04/15/2026   D B B B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE1198 Credit Audited Reserves are less than Guideline Required Reserves (Number of Months) Audited Reserves of XX/XX/XXXX month(s) are less than Guideline Required Reserves of XXX month(s) Document Uploaded. Please see SLW approval uploaded under previous citation. 02/26/2026 Client provided and Exception. Exception Approved: The requirement for XXX months of reserves (typically triggered by waived escrows) is being waived based on the following: Policy Alignment: The updated XX/XX/XXXX Product Profiles have removed this specific reserve requirement, bringing the loan into current secondary market or portfolio standards. 03/02/2026   D B C B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE9995 Credit Audited Reserves are less than Guideline Required Reserves (Dollar Amount) Audited Reserves of XXX are less than Guideline Required Reserves of XXX Document Uploaded. 02/26/2026 Client provided and Exception. Exception Approved: The requirement for XXX months of reserves (typically triggered by waived escrows) is being waived based on the following: Policy Alignment: The updated XX/XX/XXXX Product Profiles have removed this specific reserve requirement, bringing the loan into current secondary market or portfolio standards. 03/02/2026   D B C B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE3843 Credit Guideline Seasoning not Met The required number of months reserves are to be seasoned does not meet Guideline requirement. Escrow waiver utilized for subject transaction; Per guidelines, use of waiver requires XXX months of reserves. Assets are short XXX for reserves. Document Uploaded. Please see approved SLE for the remaining XXX items. 02/25/2026 Client provided Exception - Exception Approved: The requirement for XXX months of reserves (typically triggered by waived escrows) is being waived based on the following: Policy Alignment: The updated XX/XX/XXXX Product Profiles have removed this specific reserve requirement, bringing the loan into current secondary market or portfolio standards. 02/26/2026   D B D B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE6100 Credit Audited Interested Party Contribution Exceeds Guideline Program Maximum Audited Interested Party Contribution of XXX% exceeds interested party contribution guideline maximum of XXX% IPCs of XXX% exceed the maximum of XXX% XXX allowed per guidelines. Document Uploaded. The XXX & LTV/CLTV were provided to you in the data tape supporting the lowering for qualification purchases. See XXX ; We disagree with the finding. The purchase price was reduced by the IPC overage - resulting in a qualifying & purchase LTV/CLTV of 75.377%. 02/20/2026 ; Audited Interested Party Contribution is less than or equal to Guideline Program Maximum; sale price reduced by XXX overage. ; Audited Interested Party Contribution of XXX% exceeds interested party contribution guideline maximum of XXX%.; Client States: Countered. Final CD reflects XXX of XXX and XXX Final XXX reflects XXX of XXX and LTV of 75% Provide evidence to support XXX lowered as Stated on reply, "We disagree with the finding. The purchase price was reduced by the IPC overage - resulting in a qualifying & purchase LTV/CLTV of 75.377%." Document Uploaded. The XXX & LTV/CLTV were provided to you in the data tape supporting the lowering for qualification purchases. See XXX ; ; Countered. Final CD reflects XXX of XXX and XXX Final XXX reflects XXX of XXX and LTV of 75% Provide evidence to support XXX lowered as Stated on reply, "We disagree with the finding. The purchase price was reduced by the IPC overage - resulting in a qualifying & purchase LTV/CLTV of 75.377%." 02/23/2026   D B C B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 02/13/2026   D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/13/2026   D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153930 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE5116 Credit Missing VOM or VOR Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Borrowers primary mortgage with XXX (HELOC) is reporting through XX/XX/XXXX on credit report. Online account history in file reflects XX/XX/XXXX paid. Per guidelines, XXX months cancelled checks or institutional VOM required and not in file. Lender exception in file for mortgage history allowing use of the credit report to verify the mortgage history payments based on XX/XX/XXXX guidelines.           D B B B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10153947 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCRE1482 Credit Asset 4 Does Not Meet Guideline Requirements Asset 4 Does Not Meet Guideline Requirements The lender's guidelines require assets to be documented with the most recent one-month's Statement, the most recent quarterly Statement, or FNMA approved third party direct pull services, dated within XXX days of the XXX. The Final 1003 reflected assets in the amount of XXX with XXX Plan. The loan file was missing the required documentation for this asset. We disagree. This asset was not used in qualifying and not needed, so it was not counted. Asset was NOT listed or provided on the 1003. 02/19/2026 Client States: We disagree. This asset was not used in qualifying and not needed, so it was not counted. Asset was NOT listed or provided on the 1003. Removed from assets still with in GL and DU requirements. LM Updated.; Asset 4 Meets Guideline Requirements Or XXX 02/20/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10153947 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10153947 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10153947 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Acknowledged FCRE1437 Credit Income and Employment Do Not Meet Guidelines Income and Employment Do Not Meet Guidelines Borrower owns XXX financed properties and is purchasing an XXX financed property. While XX/XX/XXXX guidelines now allow borrowers to own up to XXX finance properties, the application is dated XX/XX/XXXX and falls under the previous guidelines with a XXX property finance limit. Exception approved by lender for XXX financed property due to comp factors: XXX mortgage history, FICO XXX points above minimum and reserves at least XXX months greater than required.         Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B B B C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10153939 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM1227 Credit PUD Rider is Missing PUD Rider is Missing Missing the PUD Rider. Document Uploaded. 03/18/2026 The PUD Rider is Present or is XXX (XXX is XXX); The PUD Rider is Present or is XXX (XXX is PUD); Client provided PUD Rider. LM Updated. 04/15/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153939 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153939 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153936 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/13/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 55.17% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 55.17% is less than Guideline LTV of 70% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153936 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 02/13/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 55.17% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 55.17% is less than Guideline LTV of 70% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153936 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 02/13/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 55.17% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 55.17% is less than Guideline LTV of 70% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10153937 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCRE2009 Credit Rent Loss Insurance Missing Missing rent loss insurance coverage Missing XXX months rent loss insurance coverage, as required by guidelines dated XX/XX/XXXX. We disagree. HOI doc provided shows Coverage D in the amount of XXX (Coverage D is for loss of use/fair rental value. 02/19/2026 Rent Loss Coverage Present; Client States: We disagree. HOI doc provided shows Coverage D in the amount of XXX (Coverage D is for loss of use/fair rental value. LM Updated. 02/20/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153937 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Rescinded FPRO9990 Property Third Party Valuation Product Not Provided within XXX% Tolerance Third Party Valuation Product Not Provided or Not Provided Within Tolerance. There is no CU score and property is not eligible for XXX relief. A Third Party Valuation is required. Document Uploaded. We disagree with this finding. The loan file delivered to you, included a Field Review. 02/18/2026 Field review in file, rescinded. ; Third party valuation product provided within tolerance. 02/18/2026   D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10153937 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 02/13/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 02/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10179405 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/09/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 03/10/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 64.92% is less than Guideline CLTV of 75% | Original LTV is Below the Guideline Maximum - Calculated LTV of 64.92% is less than Guideline LTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10179405 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/10/2026 Resolved FPRO8998 Property No Property Findings No property findings. Property and valuations related findings were not identified on the loan.     Informational 03/10/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 64.92% is less than Guideline CLTV of 75% | Original LTV is Below the Guideline Maximum - Calculated LTV of 64.92% is less than Guideline LTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10179405 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/10/2026 Resolved FCRE8999 Credit No Credit Findings No credit findings. The loan meets all applicable credit guidelines.     Informational 03/10/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 64.92% is less than Guideline CLTV of 75% | Original LTV is Below the Guideline Maximum - Calculated LTV of 64.92% is less than Guideline LTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10196862 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/12/2026 Resolved FCRE5782 Credit Borrower 1 Gap Credit Report is Missing Borrower 1 Gap Credit Report is Missing Required per lender guidelines: On all loans, XXX and Seller must either: Leverage Undisclosed Debt Monitoring (UDM) prior to closing, or Pull a credit refresh within ten XXX business days of the XXX. Undisclosed Debt Monitoring 03/13/2026 Borrower 1 Gap Credit Report is not missing.; GAP Credit Report Received.; Document Uploaded. 03/15/2026   D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10196862 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/12/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 03/12/2026   D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10196862 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 03/12/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 03/12/2026   D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10249000 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/07/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249000 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/07/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249000 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10248990 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/07/2026 Acknowledged FCRE5774 Credit Borrower 1 Credit Report is Incomplete Borrower 1 Credit Report is Partially Present. The lender's guidelines require a new credit report and score when an inquiry results in a new debt. The credit report reflected an inquiry with XXX on XX/XX/XXXX. The loan file contained a Statement dated XX/XX/XXXX with the new payment information and the gap credit report, dated XX/XX/XXXX, reflected the new loan. The loan file is missing the new credit report and score. Reserves > XXX mos than requirement and Time at employment > XXX years; Document Uploaded. This loan has an approved SLE for this issue. 04/16/2026 Acknowledged; The lender's guidelines require a new credit report and score when an inquiry results in a new debt. The credit report reflected an inquiry with XXX on XX/XX/XXXX. The loan file contained a Statement dated XX/XX/XXXX with the new payment information and the gap credit report, dated XX/XX/XXXX, reflected the new loan, however, lender provided a guidelines exception approval based on the following compensating factors. 05/01/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C B C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10248990 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/07/2026 Rescinded FCRE3978 Credit Missing Letter of Explanation (Credit) The lender's guidelines require the borrower to address the credit inquiries listed on the report within XXX days of the XXX. The credit report reflected the following inquiries: XX/XX/XXXX XXX, XXX, XX/XX/XXXX XXX. The loan file contained a Statement for XXX for the new loan. The loan file did not contain a letter of explanation for the other inquiries. This was located in file. 04/14/2026 Documentation is sufficient. Inquiries addressed in file. Exception rescinded. 04/16/2026   C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10248990 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/07/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10248990 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10249005 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/07/2026 Rescinded FCRE2500 Credit Missing Personal Guaranty Missing Personal Guaranty. Guaranty Agreement was not provided at the time of review The note is signed in an individual capacity - which provides a personal guaranty. An additional Guaranty Agreement is XXX. 04/13/2026 Borrower is an individual and does not require a Guaranty. Exception rescinded.; Personal Guaranty provided. 04/15/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249005 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/06/2026 Rescinded FCOM1229 Credit 1-4 Family Rider is Missing 1-4 Family Rider is Missing. 1-4 Family Rider is not required, and is not checked on the DOT screen. Invalid - The XXX contains an Assignment of Leases and Rents Rider, which is a XX/XX/XXXX equivalent. Both allow a lender to collect rent if a borrower defaults. 04/13/2026 Explanation provided is sufficient as loan is a Business purpose loan. Exception rescinded. 04/15/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249005 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/09/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249005 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/07/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/09/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263029 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263029 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263029 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/09/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10248989 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCRE3000 Credit Borrower Rental Experience Not Within Guidelines Borrower Rental Experience Not Within Guidelines Lender Stated on XXX that they are an experienced investor and they are XXX% owner of an LLC that owns a XXX. Guidelines require all professional investors to have at least XXX months experience owning and/or managing income producing real eState within the most XXX months from the XXX. There is no evidence of this in file. Borrower is not eligible as a first time investor due to not meeting the minimum DSCR requirement of XXX. Document Uploaded. 04/21/2026 Documentation is sufficient. LOE provided. Exception resolved.; Borrower Rental Experience Within Guidelines 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A C A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10248989 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCRE5123 Credit Missing Business Entity Formation Document Loan file is missing the following entity formation documentation: Articles of corporation, operating agreement, Tax EIN and a certificate of good standing. Document Uploaded. 04/21/2026 Documentation is sufficient. Entity docs provided. Exception resolved. 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10248989 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10248985 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/10/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 50% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 50% is less than Guideline LTV of 70% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10248985 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/10/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 50% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 50% is less than Guideline LTV of 70% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263038 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/10/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263038 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/10/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263038 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/10/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263026 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/10/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263026 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/10/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263025 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/08/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263025 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263018 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Rescinded FCRE7347 Credit Missing Lease Agreement The appraisal indicates that the subject is currently tenant occupied but that a copy of the lease agreement was not provided. Comments on the XXX indicate that the market rent was used to calculate the DSCR. XXX DSCR guidelines require the lesser or the current rent or the market rent be used to calculate the DSCR, and that a copy of the lease agreement be provided in the loan file. App date prior to XX/XX/XXXX guideline update - both lease & XXX was not required. Using prior profiles, it was either or. 04/15/2026 Explanation supported by Guidelines. Lease and form 1007 are the same. Exception rescinded. 04/16/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263018 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/10/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263018 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/10/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263041 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263041 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/09/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263041 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Acknowledged FCRE7495 Credit Verification of Borrower Liabilities Missing or Incomplete Borrower incurred a new debt from XXX on XX/XX/XXXX as a result of an inquiry on credit, however, lender did not pull a new report that includes the debt as required by guidelines. The exception was approved to use the existing credit report and pull a new one with documentation of the new debt which was added to liabilities based on the compensating factors below. XXX XXX XXX Mortgage History - FICO XXX points above minimum 04/10/2026 Acknowledged 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D B D B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263012 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/09/2026 Rescinded FCOM1229 Credit 1-4 Family Rider is Missing 1-4 Family Rider is Missing. The property is XXX Invalid - The XXX contains an Assignment of Leases and Rents Rider, which is a XX/XX/XXXX equivalent. Both allow a lender to collect rent if a borrower defaults. 04/13/2026 Explanation provided is sufficient as loan is a Business purpose loan. Exception rescinded. 04/15/2026   A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263012 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/09/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263012 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/10/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/10/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263015 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263015 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263015 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263031 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Acknowledged FCRE1182 Credit Approval/Underwriting Summary Not Provided Missing Approval/Underwriting Summary. Missing XXX to confirm loan details     Acknowledged, accepting 2/B grading 04/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX B B B B B B A A A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A
10263031 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX B B A A B B A A A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A
10263031 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX B B A A B B A A A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A
10263010 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263010 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263010 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/16/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/16/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263048 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/16/2026 Resolved FCOM1208 Credit The Note is Incomplete The Note is Incomplete The calculated prepayment charge—based on six months of interest on the amount exceeding XXX% of the original principal—is XXX per Final CD, whereas XXX confirmed the actual value is XXX Loan is DSCR business purpose - there is no requirement to issue a CD or have it be correct. 04/23/2026 Documentation is sufficient. Business Purpose loan. Exception resolved.; The Note is Present 04/24/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 35.98% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 35.98% is less than Guideline LTV of 80% D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263048 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 35.98% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 35.98% is less than Guideline LTV of 80% D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263048 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 35.98% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 35.98% is less than Guideline LTV of 80% D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263049 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 30.02% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 30.02% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263049 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 30.02% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 30.02% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263049 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/16/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/17/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 30.02% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 30.02% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263043 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/16/2026 Resolved FCRE5123 Credit Missing Business Entity Formation Document The borrower's signature on the operating agreement is inconsistent with the signature on the Note and other documents in file. While I agree the signatures formats differ, what exactly is being requested here? All closing info was signed in the presence of a notary who confirmed the individual signing before them. Re: the operating agreement, the borrower provided a copy of the legal document - which confirms it was them to signed it. Signatures can change over time. 05/01/2026 Documentation is sufficient. LOE provided. Exception resolved. 05/04/2026   D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263043 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/15/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/17/2026   D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263021 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCRE2009 Credit Rent Loss Insurance Missing Missing rent loss insurance coverage Document Uploaded. This explanation from the agent was included in the file delivered. 05/08/2026 Documentation is sufficient. Policy and email from Agent provided. Exception resolved.; Rent Loss Coverage Present 05/11/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263021 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/17/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263021 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263036 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Acknowledged FCRE0360 Credit Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. The loan file is missing XXX transaction history to verify monthly rental income of XXX used to calculate DSCR by lender, however, lender provided Guidelines exception approval allowing to process the transaction based on the following compensating factors - Reserves > XXX mos than requirement and LTV 10% under max allowance Please adjust this to a XXX - Non Material 04/24/2026 Acknowledged 05/01/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 30% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 30% is less than Guideline CLTV of 80% | Borrower has stable job time - Borrower has XXX years on job. | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C B C B C B A A C C C A C C C A C C C A C C C A C C C A B B B A B B B A B B B A B B B A B B B A
10263036 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Acknowledged FVAL9739 Property Property/Appraisal General Property/Appraisal guideline violation: Missing supplemental appraisal form completed by the licensed appraiser who performed the original appraisal required for documenting Short-term rental income per guidelines, however, lender provided guidelines exception approval allowing to use form 1007 based on the following compensating factors - Reserves > XXX mos than requirement and LTV 10% under max allowance Please adjust this to a XXX - Non Material 04/24/2026 Acknowledged 05/01/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 30% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 30% is less than Guideline CLTV of 80% | Borrower has stable job time - Borrower has XXX years on job. | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C B C B C B A A C C C A C C C A C C C A C C C A C C C A B B B A B B B A B B B A B B B A B B B A
10263036 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Rescinded FCOM1208 Credit The Note is Incomplete The Note is Incomplete The final CD reflects a XXX prepayment penalty (XXX months' interest on prepayments over XXX% of the original principal), which conflicts with the XXX figure calculated by XXX. DSCR loan - as the loan is business purpose it is not subject to any TRID regulations. 04/24/2026 Documentation is sufficient. Note is acceptable, CD is optionable. Exception rescinded.; 04/24/2026   C B A A C B C B A A C C C A C C C A C C C A C C C A C C C A B B B A B B B A B B B A B B B A B B B A
10263036 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 30% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 30% is less than Guideline CLTV of 80% | Borrower has stable job time - Borrower has XXX years on job. | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B C B A A C C C A C C C A C C C A C C C A C C C A B B B A B B B A B B B A B B B A B B B A
10263016 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCRE5123 Credit Missing Business Entity Formation Document The borrowers' signatures on the operating agreement are inconsistent with the signatures on the Note and other documents in file. What exactly is being requested here, the signatures are not that dissimilar? Both contain the general shapes & context - please escalate to someone higher up. 05/01/2026 Further Audit review concludes signatures are not an issue. 05/04/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263016 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/17/2026 Resolved FCRE0387 Credit Borrower 2 Photo Identification not provided Borrower 2 Photo Identification not provided. The file does not contain evidence that photo identification was obtained from Borrower 2. Document Uploaded. 05/01/2026 Documentation is sufficient. Patriot Act disclosure provided. Exception resolved.; Photo Identification provided. 05/04/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263016 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/17/2026 Resolved FCRE0386 Credit Borrower 1 Photo Identification not provided Borrower 1 Photo Identification not provided. The file does not contain evidence that photo identification was obtained from Borrower 1. Document Uploaded. 05/01/2026 Documentation is sufficient. Patriot Act disclosure provided. Exception resolved.; Photo Identification provided. 05/04/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263016 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/17/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263016 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263040 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263040 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263040 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263037 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263037 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263037 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263030 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCRE9780 Credit Business Purpose Affidavit/Disclosure Missing Business Purpose Affidavit/Disclosure Missing. Missing Business purpose disclosure. Document Uploaded. 05/11/2026 Business Purpose Affidavit/Disclosure Provided; Auditor Response: Lender uploaded Business Purupose & Occupancy Affidavit. 05/12/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263030 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263030 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263008 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Acknowledged FCOM1114 Compliance Late Charge Percent is greater than XXX% Late Charge Percent is greater than XXX%     Acknowledged, accepting 2/B grading 04/23/2026   B B B B A A A A B B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B
10263008 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/22/2026   B B A A A A A A B B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B
10263008 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/22/2026   B B A A A A A A B B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B B A A B
10263022 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 59.78% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 59.78% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263022 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/22/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 59.78% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 59.78% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263022 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/22/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 59.78% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 59.78% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263042 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCRE2009 Credit Rent Loss Insurance Missing Missing rent loss insurance coverage - for subject property. Document Uploaded. This was provided in the original file. 05/12/2026 Documentation is sufficient. Policy provided. Exception resolved.; Rent Loss Coverage Present 05/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 70% D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263042 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 70% D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263042 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 70% | Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 70% D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263032 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 58.23% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 58.23% is less than Guideline LTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263032 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 58.23% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 58.23% is less than Guideline LTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263032 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational; Informational; Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 58.23% is less than Guideline CLTV of 75% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 58.23% is less than Guideline LTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263017 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 59.36% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 59.36% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263017 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational; Informational; Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 59.36% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 59.36% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263017 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original LTV is Below the Guideline Maximum - Calculated LTV of 59.36% is less than Guideline LTV of 75% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 59.36% is less than Guideline CLTV of 75% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263033 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263033 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263033 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/22/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 60% is less than Guideline LTV of 80% | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 60% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263047 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FCRE9780 Credit Business Purpose Affidavit/Disclosure Missing Business Purpose Affidavit/Disclosure Missing. Document Uploaded. 05/07/2026 Documentation provided is sufficient. Exception resolved.; Business Purpose Affidavit/Disclosure Provided 05/08/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 37.5% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 37.5% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263047 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/21/2026 Rescinded FCRE5116 Credit Missing VOM or VOR Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Missing evidence the following mortgages were current as of the XXX XXX #XXX, XXX #XXX, XXX #XXX, XXX #XXX, XXX #XXX and XXX #XXX. Must be current as of XXX per guideline. Credit report does not show these mortgages were paid through XX/XX/XXXX. Yes, that's the guideline but the interpretation of the guideline is incorrect. Please have this escalated. ; We disagree with this interpretation of the guideline. Our interpretation in alignment without investors is that a valid credit report is the validation. As long as the report hasn't expired and doesn't explicitly show a delinquency, we and our investors accepts it as sufficient proof that the account is current at the time of closing (even though we don't have the most recent Statement). 05/08/2026 ; Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not required - After re-review of the guidelines, lender is okay with mortgage history up to XX/XX/XXXX on all mortgages excluding primary and subject, even though the loan closed XX/XX/XXXX. As we could not verify XX/XX/XXXX payments for all mortgage loans. According to lender guideline interpretation is not to verify the most recent payment at time of closing, but at application, as long as their are no delinquent payments. Therefore, this condition was not required. Exception has been removed.; Per guidelines, All mortgages and rental payments must be current at the time of application and at closing. This includes mortgages and rental payments on properties other than the subject and primary residence. Exception remains. 05/08/2026   D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263047 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FCOM3596 Credit Missing Prepayment Rider Per Deed, subject property has a Prepayment Rider, missing executed Prepayment Rider documentation Document Uploaded. 05/01/2026 Documentation provided is sufficient. Exception resolved. 05/04/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 37.5% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 37.5% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263047 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 37.5% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 37.5% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263047 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 37.5% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 37.5% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10263046 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational; Informational; Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 69.07% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 69.07% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263046 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 69.07% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 69.07% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263046 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026 Original CLTV is Below the Guideline Maximum - Calculated CLTV of 69.07% is less than Guideline CLTV of 80% | Original LTV is Below the Guideline Maximum - Calculated LTV of 69.07% is less than Guideline LTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263039 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FCRE9780 Credit Business Purpose Affidavit/Disclosure Missing Business Purpose Affidavit/Disclosure Missing. Document Uploaded. 05/04/2026 Documentation is sufficient. Business Purpose affidavit provided. Exception resolved.; Business Purpose Affidavit/Disclosure Provided 05/05/2026   D B D A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263039 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Acknowledged FCRE1158 Credit Hazard Insurance Policy is Partial Hazard Insurance Policy Partially Provided HOI policy reflects Fair Rental Income Protection with no coverage details, however, lender provided guidelines exception approval to use XXX months coverage based on the following compensating factors: XXX XXX XXX Mortgage History and Strong DSCR XX/XX/XXXX     Lender provided guidelines exception approval 04/23/2026   D B D B D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263039 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/20/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational; Informational; Informational 04/22/2026   D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263039 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/22/2026   D B A A D B A A A A D D A A D D A A D D A A D D A A D D A A B B A A B B A A B B A A B B A A B B A A
10263009 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/23/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263009 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/23/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263009 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/23/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263023 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FCRE1253 Credit Missing Property Tax Cert Missing Property Tax Cert Tax Cert for subj property missing. Taxes pulled from initial escrow Document Uploaded. 05/12/2026 Documentation is sufficient. Tax sheet provided. Calculations taken from XXX. Exception resolved.; Property Tax Cert Provided 05/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A C A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10263023 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10263023 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/24/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10263020 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Acknowledged FPRO3678 Property Property Issue(s) are Present One or more issues or defects with the property have been discovered. Subject market is confirmed as rural on the appraisal report which is not allowed per guideline. Loan contains a lender approved exception to allow rural property although it does not meet guideline. The lender identified the following compensating factors to allow exception; XXX mortgage history, Fico greater than XXX points above minimum and reserves greater than XXX months above requirement.         Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C B C A C B C A C C C C C C C C C C C C C C C C C C C C B A B A B A B A B A B A B A B A B A B A
10263020 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FCOM6034 Compliance Final CD: Estimated Taxes, Insurance, & Assessments "In escrow? is incomplete or inaccurate "   Document Uploaded. 05/13/2026 Lender provided evidence the CD provided the correct escrows. Condition cleared. 05/29/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C A C A C B C A C C C C C C C C C C C C C C C C C C C C B A B A B A B A B A B A B A B A B A B A
10263020 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FCRE1479 Credit Asset 1 Does Not Meet Guideline Requirements Asset Record XXX Does Not Meet G/L Requirements. Assets in the XXX Acct #XXX are business assets and we are only allowed to use the balance based on the borrowers percentage of ownership which is XXX% Also will need the non-borrowing owner to provide a signed and dated letter acknowledging the transaction and confirming the borrowers access to use the funds for the transaction. CPA letter also required to verify that the withdrawal will not negatively impact the business. Document Uploaded. Business assets were not used for cash to close. See attached disbursement ledger for the concurrent closing (XXX XXX) that shows proceeds going to this loan in the amount of $XXX. I've also attached the final ALTA for this the subject loan confirming receipt. 05/14/2026 Documentation provided is sufficient. Exception resolved.; Asset Record XXX Meets G/L Requirements 05/15/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C A C A C B C A C C C C C C C C C C C C C C C C C C C C B A B A B A B A B A B A B A B A B A B A
10263020 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Rescinded FCRE5116 Credit Missing VOM or VOR Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Missing VOM/credit supplement to verify the following mortgages listed on the Final 1003 are paid as agreed and due for the XX/XX/XXXX payment as of closing XXX #XXX and XXX #XXX. This is an incorrect interpretation of the guideline. Our interpretation is in alignment with our investors, that a valid credit report is the validation. As long as the report hasn't expired at the time of closing and doesn't explicitly show a delinquency, we and our investors accepts it as sufficient proof that the account is current at the time of closing (even though we don't have the most recent Statement). 05/12/2026 Explanation provided is sufficient. Exception rescinded.; Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not Missing 05/13/2026   C B A A C A C B C A C C C C C C C C C C C C C C C C C C C C B A B A B A B A B A B A B A B A B A B A
10263007 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263007 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263007 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/27/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263014 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/29/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 04/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263014 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/29/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263014 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/30/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263019 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/29/2026 Acknowledged FCRE1440 Credit Housing History Does Not Meet Guideline Requirements Housing History Does Not Meet Guideline Requirements Lender approved exception granted at time of origination to allow XXX x XXX mortgage late. The lender comments indicate the late payment was isolated and was due to the lender telling the borrower the loan would close in XXX, but it did not close until XXX. This late pay will be made up at closing as part of the payoff. Approval based upon the following compensating factors: FICO XXX points above minimum, XXX months reserves and XXX DSCR. Exception downgraded to a level 2/B. What exactly is being cited here for a XXX - Material finding? 05/18/2026 Guidelines require XXX x XXX for mortgage history. The Borrower's latest payment is over XXX days late. However, due to the late closing of the subject transaction, the late payment will be paid at closing, and the Lender approved a credit exception. citing compensating factors of fico score XXX points above minimum, XXX mo. reserves and a DSCR ratio of XXX. Acknowledged and downgraded. 05/19/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B C B C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10263019 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/29/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10263019 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/30/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/30/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C B A A C B A A A A C C A A C C A A C C A A C C A A C C A A B B A A B B A A B B A A B B A A B B A A
10263035 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/05/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 05/06/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263035 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/05/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 05/06/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263034 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/06/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 05/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263034 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/06/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 05/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10263034 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/06/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 05/13/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249020 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 05/27/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249020 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 05/27/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249020 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 05/27/2026 Original LTV is Below the Guideline Maximum - Calculated LTV of 70% is less than Guideline LTV of 80% | Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX | Original CLTV is Below the Guideline Maximum - Calculated CLTV of 70% is less than Guideline CLTV of 80% A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249019 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249019 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines. The loan meets all applicable credit guidelines.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249019 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan. Property and valuations related findings were not identified on the loan.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10248995 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCRE8201 Credit Loan does not conform to program guidelines Missing Operating Agreement and Articles of Incorporation for business Document Uploaded. All documents were provided within the file provided. 06/01/2026 Client provided Articles of Organization and Certification of Formation. LM Updated. 06/02/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A C A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10248995 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10248995 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX C A A A C A A A A A C C A A C C A A C C A A C C A A C C A A A A A A A A A A A A A A A A A A A A A A
10249010 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCRE8999 Credit No Credit Findings The loan meets all applicable credit guidelines.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249010 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10249010 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 05/22/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 05/27/2026 Qualifying FICO is Greater than the Guideline Minimum - Qualifying FICO of XXX is greater than Guideline minimum FICO of XXX A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
10287840 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FCRE2900 Credit Borrower Non-XXX Identification Document Missing Non XXX Borrower is missing Identification Document. Missing I-XXX Card Document Uploaded. 04/28/2026 Documentation is sufficient. Permanent Resident card provided. Exception resolved.; Borrower Identification Document provided. 04/29/2026   D A D A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10287840 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/22/2026 Resolved FPRO8998 Property No Property Findings Property and valuations related findings were not identified on the loan.     Informational 04/23/2026   D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A
10287840 XXXXX XXX XXXXX XX/XX/XXXX $XXXXXX XXX ATR/QM: Exempt Loan Review Complete 04/23/2026 Resolved FCOM8997 Compliance No Compliance Findings The loan is in compliance with all applicable laws and regulations.     Informational 04/23/2026   D A A A D A A A A A D D A A D D A A D D A A D D A A D D A A A A A A A A A A A A A A A A A A A A A A