Exhibit 99.05 - Schedule 2
| Conditions Report 2.0 | ||||||||||||||||||||||||||||||||||||
| Loans in Report: | 34 | |||||||||||||||||||||||||||||||||||
| Loans with Conditions: | 15 | |||||||||||||||||||||||||||||||||||
| Loan Number | Original Principal Balance | State | Initial Lender ATR/QM Status | Loan Level ATR/QM Status | Initial Securitization Overall Loan Grade | Final Securitization Overall Loan Grade | Initial Securitization Credit Loan Grade | Final Securitization Credit Loan Grade | Initial Securitization Property Valuations Loan Grade | Final Securitization Property Valuations Loan Grade | Initial Securitization Compliance Loan Grade | Final Securitization Compliance Loan Grade | Initial S&P Overall Loan Grade | Final S&P Overall Loan Grade | Initial S&P Credit Loan Grade | Final S&P Credit Loan Grade | Initial S&P Property Valuations Loan Grade | Final S&P Property Valuations Loan Grade | Initial S&P Compliance Loan Grade | Final S&P Compliance Loan Grade | Condition Category | Condition Sub Category | Condition Status | Initial Securitization Condition Grade | Final Securitization Condition Grade | Initial S&P Condition Grade | Final S&P Condition Grade | Condition Code | Condition Description | Condition Material Indicator | Initial Comments | Client/Seller Response Comments | Conclusion Comments | TRID Error Type | Cure Method | Compensating Factors |
| 2138670 | XXXXXX | CA | QM: Safe Harbor (APOR) | QM: Safe Harbor (APOR) | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: The borrower has a 28 year credit history with 15 open and active tradelines 0X30 CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualifying FICO is 720, minimum required by G/L is 680 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves required $4672.36 X 6 = $28,034.16. Post close reserves $44,131.88 or 9.44 months PITIA | |||||||||||||||
| 2186760 | XXXXXX | NC | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1739: Positive mortgage payment history - Clayton Comments: Borrower has never been 1X30 with history from 7/2024. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Credit score of 654 exceeds guideline minimum of 620 for a DSCR cash out refinance at 69.89% LTV. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $71,198.15, or 33.58 months. 3 months required. | |||||||||||||||
| 2138661 | XXXXXX | SC | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Verified reserves of $261,731.18 or 16.34 months PITI reserve exceeds required reserves of ($16,013.24 x 6 = $96,079.44). CFCFS1735: Co-Borrower has significant time at current job - Clayton Comments: Co-borrower has been at current job for 7 years. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Representative score of 774 exceeds guideline requirement of 660. | |||||||||||||||
| 2138679 | XXXXXX | TX | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | A | A | D | A | C | B | D | B | A | A | D | A | C | B | Compliance | Finance Charge Tolerance | Satisfied | C | B | C | B | CMPFINT109 | Finance charge understated by more than $35 (Pmt Stream) | No | Finance charge understated by $68.10. Tax service fee (life of loan) $68.10 is a fee to be included in APR. Please refund of the amount of the underdisclosure, or, if an ARM and the index is less than the lowest index during the lookback period, reduction in the margin to match the FIR disclosed; LOX; Reopen rescission if applicable; Proof of delivery. Within 60 days of discovery. | 2.13.26-Client provided PCCD, LOX fed ex and check . Satisfied. | 2.13.26- Satisfied. | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: The borrowers have occupied the subject property for 13 years CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 34.72%, max allowed by G/L is 75% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves, LTV 75% - None Required. Post close reserves $190,032.32 or 73.96 months PITIA CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualifying FICO is 741, minimum required by G/L is 600 |
| 2138679 | XXXXXX | TX | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | A | A | D | A | C | B | D | B | A | A | D | A | C | B | Compliance | Finance Charge Tolerance | Satisfied | C | B | C | B | CMPFINT4372 | TILA/TRID-Disclosed Amount Financed is higher than Clayton's calculated Amount Financed | No | Disclosed Amount Financed is disclosed as $XXX. Calculated amount financed is $XXX. Difference of $68.10 is the amount of tax service fee charged. | 2.16.26-Client provided LOX, copy of cure check, fed ex label and PCCD for violation.Satisfied | 2.16.26- Satisfied. | Numeric | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: The borrowers have occupied the subject property for 13 years CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 34.72%, max allowed by G/L is 75% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves, LTV 75% - None Required. Post close reserves $190,032.32 or 73.96 months PITIA CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualifying FICO is 741, minimum required by G/L is 600 |
| 2138679 | XXXXXX | TX | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | A | A | D | A | C | B | D | B | A | A | D | A | C | B | Compliance | Section 32 | Satisfied | C | B | C | B | CMPS32371 | Section 32 Loan per Points and Fees Test | No | Maximum charges allowed is $12102.67 (5%). Total adjusted charges are $12994.00 (5.368%). Charges exceed maximum allowed by $891.32 (.368%). No mavent provided to show discount points bona fide. | 1.27.26-Client provided CompEase report with un-discounted starting rate , Satisfied. | 1.27.26- Satisfied. | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: The borrowers have occupied the subject property for 13 years CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 34.72%, max allowed by G/L is 75% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves, LTV 75% - None Required. Post close reserves $190,032.32 or 73.96 months PITIA CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualifying FICO is 741, minimum required by G/L is 600 |
| 2138679 | XXXXXX | TX | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | A | A | D | A | C | B | D | B | A | A | D | A | C | B | Compliance | State High Cost | Satisfied | C | B | C | B | CMPSTHC332 | XXX High-Cost Loan by exceeding point and fee threshold, | No | Maximum charges allowed is $12102.67 (5%). Total adjusted charges are $12994.00 (5.368%). Charges exceed maximum allowed by $891.32 (.368%). No mavent provided to show discount points bona fide. | 1.27.26-Client provided CompEase report with un-discounted starting rate , Satisfied. | 1.27.26- Satisfied. | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: The borrowers have occupied the subject property for 13 years CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 34.72%, max allowed by G/L is 75% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves, LTV 75% - None Required. Post close reserves $190,032.32 or 73.96 months PITIA CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualifying FICO is 741, minimum required by G/L is 600 |
| 2138679 | XXXXXX | TX | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | A | A | D | A | C | B | D | B | A | A | D | A | C | B | Compliance | Texas Equity | Satisfied | C | B | C | B | CMPXXXEQ5830 | XXX Equity - Total fees greater than the allowable cap | No | XXX Equity - Total fees charged $7345.74 (2.938%). maximum charges allowed are $5000.00 (2%). Maximum allowed exceeded by $2345.74 (.938%). No mavent provided to show bona fide points. | 1.27.26-Client provided CompEase report with un-discounted starting rate , Satisfied. | 1.27.26-Satisfied. | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: The borrowers have occupied the subject property for 13 years CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 34.72%, max allowed by G/L is 75% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves, LTV 75% - None Required. Post close reserves $190,032.32 or 73.96 months PITIA CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualifying FICO is 741, minimum required by G/L is 600 |
| 2138679 | XXXXXX | TX | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | A | A | D | A | C | B | D | B | A | A | D | A | C | B | Property Valuations | Appraisal | Satisfied | D | A | D | A | PRVAAPPR3116 | Missing updated valuation | No | On the UCDP the appraised value is $XXX instead of the actual value of $XXX. | 2.23.26 please find the updated UCDP | 2.23.26 exception satisfied | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: The borrowers have occupied the subject property for 13 years CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 34.72%, max allowed by G/L is 75% CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves, LTV 75% - None Required. Post close reserves $190,032.32 or 73.96 months PITIA CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualifying FICO is 741, minimum required by G/L is 600 |
| 2138680 | XXXXXX | WA | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | A | C | A | A | A | D | A | D | A | C | A | A | A | D | A | Compliance | Ability to Repay/Qualified Mortgage | Satisfied | D | A | D | A | CMPATRQM3220 | TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status. | No | Verbal verification of employment missing | 1.30.26 VVOE provided, please clear finding.1.31.26 exception satisfied | 1.31.26 exception satisfied | (No Data) | Not Applicable | CFCFS1739: Positive mortgage payment history - Clayton Comments: Borrower has never been 1X30 with history from 9/2018. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 77.49% is below guideline maximum of 85% for a Full Doc Rate/Term refinance with a 776 credit score. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $73,150.72, or 14.81 months. 6 months required. |
| 2138680 | XXXXXX | WA | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | A | C | A | A | A | D | A | D | A | C | A | A | A | D | A | Credit | Income/Employment | Satisfied | C | A | C | A | CRDINC2488 | Verbal verification of employment missing | No | Verbal verification of employment missing | 1.30.26 VVOE provided, please clear finding.1.31.26 exception satisfied | 1.31.26 exception satisfied | (No Data) | Not Applicable | CFCFS1739: Positive mortgage payment history - Clayton Comments: Borrower has never been 1X30 with history from 9/2018. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 77.49% is below guideline maximum of 85% for a Full Doc Rate/Term refinance with a 776 credit score. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $73,150.72, or 14.81 months. 6 months required. |
| 2138684 | XXXXXX | OR | QM: Safe Harbor (APOR) | QM: Safe Harbor (APOR) | D | B | C | B | A | A | D | B | D | B | C | B | A | A | D | B | Compliance | Ability to Repay/Qualified Mortgage | Satisfied | D | A | D | A | CMPATRQM3220 | TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status. | No | Missing Divorce Decree/Support obligation for B2. Paystub deduction not included in DTI. Guidelines allow up to 55% DTI if the LTV is 85% or less, residual income of $4,000 and 0x30 on mortgage history. Borrowers meet all of the criteria. | 2.10.2026-Guidelines allow up to 55% DTI if the LTV is 85% or less, residual income of $4,000 and 0x30 on mortgage history. Borrowers meet all of the criteria. | 2.10.2026-Exception satisfied. | (No Data) | Not Applicable | CFCFS1734: Borrower has significant time at current job - Clayton Comments: Per VOE borrower has been on job since 4/7/2008. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 76.92% is below guideline maximum of 90% for a Full Doc purchase with a 770 credit score. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $47,896.90, or 11.94 months. 6 months required. |
| 2138684 | XXXXXX | OR | QM: Safe Harbor (APOR) | QM: Safe Harbor (APOR) | D | B | C | B | A | A | D | B | D | B | C | B | A | A | D | B | Compliance | TILA/RESPA Integrated Disclosure | Satisfied | C | B | C | B | CMPTRID3670 | TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation | No | Zero tolerance fail of $2500.00- Lender credit decrease & discount points added on LE 1/5/26. Provide COCs OR PCCD, LOX, Copy of tolerance check including proof of delivery within 60 days of consummation. | 2.3.26-Please re-send docs, nothing reflected as received.2.5.26-Client provided COCs, satisfied. | 2.5.26- satisfied. | (No Data) | Not Applicable | CFCFS1734: Borrower has significant time at current job - Clayton Comments: Per VOE borrower has been on job since 4/7/2008. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 76.92% is below guideline maximum of 90% for a Full Doc purchase with a 770 credit score. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $47,896.90, or 11.94 months. 6 months required. |
| 2138684 | XXXXXX | OR | QM: Safe Harbor (APOR) | QM: Safe Harbor (APOR) | D | B | C | B | A | A | D | B | D | B | C | B | A | A | D | B | Credit | Credit/Mtg History | Active | C | B | C | B | CRDCRMH1805 | Debts/obligations not disclosed/accounted for at origination | No | Missing Divorce Decree/Support obligation for B2. Paystub deduction not included in DTI. | 2.9.2026-Client's response: February 4th 2026, 11:48:50 amB2 we are using his hourly pay at 36 hours per week, there are no deductions or anything to warrant the divorce decree please clear.2.9.2026-Clayton's response: The co-borrower's credit report shows an account with the XXX., XXX which is a XXX obligation. Exception remains.2.10.2026-The borrower is unable to provide the documents from the court. Clayton deems this non-material. Compensating factors 770 FICO, 11 months in reserves, 17 years at current employer. | 2.9.2026-Exception remains. | (No Data) | Not Applicable | CFCFS1734: Borrower has significant time at current job - Clayton Comments: Per VOE borrower has been on job since 4/7/2008. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 76.92% is below guideline maximum of 90% for a Full Doc purchase with a 770 credit score. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $47,896.90, or 11.94 months. 6 months required. |
| 2138684 | XXXXXX | OR | QM: Safe Harbor (APOR) | QM: Safe Harbor (APOR) | D | B | C | B | A | A | D | B | D | B | C | B | A | A | D | B | Credit | LTV/CLTV | Active | B | B | B | B | CRDLTV5736 | LTV Exceeds Guideline Requirement by less than 5% | No | Due to the property being Rural; the LTV is limited to 75%. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1734: Borrower has significant time at current job - Clayton Comments: Per VOE borrower has been on job since 4/7/2008. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 76.92% is below guideline maximum of 90% for a Full Doc purchase with a 770 credit score. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $47,896.90, or 11.94 months. 6 months required. |
| 2186769 | XXXXXX | TX | (No Data) | ATR/QM: Exempt | C | B | A | A | C | B | N/A | N/A | C | B | A | A | C | B | N/A | N/A | Property Valuations | Property | Active | C | B | C | B | PRVAPROP177 | Property Issues Indicated | No | Guidelines require that if the property has been listed in the last 6 months the list price must be used for the value; lender used the appraised value on this loan. Clayton deems this non-material. Compensating factors are 37 months in reserves, 12 years at current residence and low loan to value 65%. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: 12.9 years living at primary residence. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 37.8 months of reserves in file. CFCFS1737: LTV below guideline requirements - Clayton Comments: 65% LTV per review; 80% LTV is maximum allowed per guidelines. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 635 mid-score per CBR. 620 minimum required. |
| 2186753 | XXXXXX | FL | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1736: Significant time at current residence - Clayton Comments: In residence 12 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $95,099.91, or 41.45 months. 6 months required. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 75% is below guideline maximum of 80% for a DSCR purchase with a 793 credit score. | |||||||||||||||
| 2186763 | XXXXXX | NC | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 94+ months reserves exceed guidelines. CFCFS1736: Significant time at current residence - Clayton Comments: Guarantor has lived at current residence 7 years. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: 328 months credit history exceeds guidelines. | |||||||||||||||
| 2192299 | XXXXXX | MD | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | A | D | A | A | A | C | A | D | A | D | A | A | A | C | A | Compliance | State High Cost | Satisfied | C | A | C | A | CMPSTHC873 | XXX High-Cost Loan by exceeding point and fee threshold, | No | XXX High-Cost Loan: Maximum allowed charges are $10590.31 (4%). Total adjusted charges are $10746.50 (4.059%). Maximum allowed exceeded by $156.19 (.059%). | 5.28.26-Client provided par Rate. Satisfied. | 5.28.26- Satisfied. | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: Borrower has resided at current residence for approximately 21 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves $19,713.61, or 9.53 months PITI exceed 6 month guideline requirement. CFCFS1744: DTI below guideline requirement - Clayton Comments: Qualifying DTI of 44.31% is below max guideline requirement of 50.00%. |
| 2192299 | XXXXXX | MD | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | A | D | A | A | A | C | A | D | A | D | A | A | A | C | A | Credit | Application | Satisfied | D | A | D | A | CRDAPP130 | Application is incomplete | No | 1003 states borrower is a XXX. Social Security card in file shows "Authorization for work ONLY with INS authorization". Confirm borrower is a XXX and provide documentation of acceptable US residency as applicable. | 5.28.2026 Client responded - please find processor cert, bwr is us citizen5.28.2026 Client provided letter from XXXX that the borrower is a XXX Exception satisfied | 5.28.2026 Exception satisfied | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: Borrower has resided at current residence for approximately 21 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves $19,713.61, or 9.53 months PITI exceed 6 month guideline requirement. CFCFS1744: DTI below guideline requirement - Clayton Comments: Qualifying DTI of 44.31% is below max guideline requirement of 50.00%. |
| 2186747 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 6 Months Reserves CFCFS1736: Significant time at current residence - Clayton Comments: 25+ Years at current Primary Residence CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: 28+ Months reporting | |||||||||||||||
| 2186767 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: 237 months credit history exceeds guidelines. CFCFS1736: Significant time at current residence - Clayton Comments: Guarantor has lived at current residence 20 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 6+ months reserves exceed guidelines. | |||||||||||||||
| 2186778 | XXXXXX | SC | (No Data) | ATR/QM: Exempt | C | A | C | A | A | A | N/A | N/A | C | A | C | A | A | A | N/A | N/A | Credit | Application | Satisfied | C | A | C | A | CRDAPP4625 | The orig file does not contain a third party fraud report | No | The first 3 pages of the Fraud Report found in the loan file, provide final complete report. | 6.23.26 Full fraud report provided, please clear.6.23.26 exception satisfied | 6.23.26 exception satisfied | Not Applicable | Not Applicable | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 635 mid score is > minimum required score of 620 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Verified Post Closed Assets of $XXXX / by PITIA of $XXXX= XXXX, is > minimum required of $4002.03 CFCFS1736: Significant time at current residence - Clayton Comments: Borrower has been at current residence for 7 years. |
| 2186777 | XXXXXX | AL | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 766 mid score > min required of 620 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post closing assets $XXXX > min required of $10177.86 CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 76.5%; guidelines allow 80%. | |||||||||||||||
| 2196694 | XXXXXX | HI | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | D | A | A | A | D | B | D | B | D | A | A | A | D | B | Compliance | Ability to Repay/Qualified Mortgage | Satisfied | D | A | D | A | CMPATRQM3220 | TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; the loan file is missing documents to complete the ATR/QM review and render an accurate ATR/QM status. | No | Missing bank statements for 2/2026 and 3/2026 for Bank of XXX#XXX | 5.28.26 bank statements for account XXXX for February and March have been provided.5.30.26 exception satisfied | 5.30.26 exception satisfied | (No Data) | Not Applicable | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves $121,149.56, or 22.30 months PITIA, exceed guideline requirement. CFCFS2860: Good credit history - Clayton Comments: Borrower has 0 x 30 consumer credit history past 37 months. CFCFS1734: Borrower has significant time at current job - Clayton Comments: Borrower has been on current job for approximately 10 years. |
| 2196694 | XXXXXX | HI | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | D | A | A | A | D | B | D | B | D | A | A | A | D | B | Compliance | TILA/RESPA Integrated Disclosure | Satisfied | C | B | C | B | CMPTRID3670 | TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation | No | Zero tolerance fail of $150.00 for appraisal increased on LE dated 4/24/2026 without a Change of Circumstance. Please provide Letter of explanation, corrected Closing Disclosure, refund, proof of delivery within 60 days of consummation. | 5.29.26-No docs received.6.4.26-Client provided Label, LOX, PCCD, Copy of Tolerance cure. Satisfied. | 6.4.26- Satisfied. | (No Data) | Not Applicable | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves $121,149.56, or 22.30 months PITIA, exceed guideline requirement. CFCFS2860: Good credit history - Clayton Comments: Borrower has 0 x 30 consumer credit history past 37 months. CFCFS1734: Borrower has significant time at current job - Clayton Comments: Borrower has been on current job for approximately 10 years. |
| 2196694 | XXXXXX | HI | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | D | B | D | A | A | A | D | B | D | B | D | A | A | A | D | B | Credit | Income/Employment | Satisfied | D | A | D | A | CRDINC2408 | Income verification does not meet guidelines | No | Missing bank statements for 2/2026 and 3/2026 for Bank of XXX#XXX | 5.28.26 bank statements for account XXXX for February and March have been provided.5.30.26 exception satisfied | 5.30.26 exception satisfied | (No Data) | Not Applicable | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves $121,149.56, or 22.30 months PITIA, exceed guideline requirement. CFCFS2860: Good credit history - Clayton Comments: Borrower has 0 x 30 consumer credit history past 37 months. CFCFS1734: Borrower has significant time at current job - Clayton Comments: Borrower has been on current job for approximately 10 years. |
| 2186768 | XXXXXX | FL | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1739: Positive mortgage payment history - Clayton Comments: Borrower(s) have 96 months mortgage payment history of 0/30 CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 727 mid score is > minimum required score of 620 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Verified Post Closing Assets of $XXXX0/ by PITIA of $XXXX5 = XXXX, is > minimum required of $6364.05, 3 months | |||||||||||||||
| 2186779 | XXXXXX | FL | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: 278 months credit history exceeds guidelines. CFCFS1736: Significant time at current residence - Clayton Comments: Guarantor has lived at current residence 8 years. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 90+ months reserves exceed guidelines. | |||||||||||||||
| 2186782 | XXXXXX | GA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Verified cash reserves in the amount of $18,119.93 exceeds $43,986.96 the minimum required per lender guidelines CFCFS1739: Positive mortgage payment history - Clayton Comments: 62 months positive mortgage payment history exceeds 24 months the minimum required per lender guidelines CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: 62 months of mortgage payments exceeds 24 months the minimum required per lender guidelines | |||||||||||||||
| 2192307 | XXXXXX | FL | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | B | B | B | B | A | A | A | A | B | B | B | B | A | A | A | A | Credit | Assets | Active | B | B | B | B | CRDAST3078 | Insufficient # of months cash reserves for PITI per guideline requirements | No | Per Guidelines, 6 Months Reserves are Required. Currently there are 2.61 Months Reserves in file.Paying off 1st and 2nd. Good credit history. Low DTI. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1739: Positive mortgage payment history - Clayton Comments: 28+ Months reporting on Credit Report CFCFS2860: Good credit history - Clayton Comments: Demonstrates Good Credit History CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: 300+ Months reporting on Credit Report |
| 2186752 | XXXXXX | AZ | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Credit score of 758 exceeds guideline requirement of 680. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves $62,078.86, or 12.55 months PITI exceed guideline requirement. CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: Mortgage payment history 0 x 30 past 32 months exceeds guideline requirement. | |||||||||||||||
| 2186756 | XXXXXX | TX | (No Data) | ATR/QM: Exempt | D | A | D | A | A | A | A | A | D | A | D | A | A | A | A | A | Credit | Credit/Mtg History | Satisfied | D | A | D | A | CRDCRMH149 | Missing support docs for VOM/VOR (e.g. cancelled checks) | No | Missing documentation supporting April 2026 mortgage payment for the subject property and Borrowers primary residence has been paid. Date of last activity reporting on credit is for March 2026 | 5.2.26 please find updated credit sup5.22.26 EXCEPTION SATISFIED | 5.22.26 EXCEPTION SATISFIED | (No Data) | Not Applicable | CFCFS1739: Positive mortgage payment history - Clayton Comments: 99 months positive mortgage payment history exceeds 12 months the minimum required per lender guidelines CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Verified cash reserves in the amount of $147,728.24 exceeds $0.00 the minimum required per lender guidelines CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 58.9% is below 80.00% the maximum allowable per lender guidelines CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 740 Credit score exceeds 620 the minimum required per lender guidelines |
| 2186757 | XXXXXX | TN | (No Data) | ATR/QM: Exempt | B | B | B | B | A | A | N/A | N/A | B | B | B | B | A | A | N/A | N/A | Credit | Assets | Active | B | B | B | B | CRDAST3078 | Insufficient # of months cash reserves for PITI per guideline requirements | No | Reserves required $1502.02 X 6 required for DSCR <1 = $9012.12. Post close reserves $4508.40 or 3 months PITI. Clayton deems this non-material due to the following compensating factors: 800 FICO, Significant time at current residence, 12 year credit | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: The borrower has a 12 year credit history with 11 open and active tradelines 0X30 CFCFS1736: Significant time at current residence - Clayton Comments: The borrower has occupied their current primary for over 8 years CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualiyfing FICO is 800, minimum required by G/L is 680 |
| 2186757 | XXXXXX | TN | (No Data) | ATR/QM: Exempt | B | B | B | B | A | A | N/A | N/A | B | B | B | B | A | A | N/A | N/A | Credit | Credit/Mtg History | Active | B | B | B | B | CRDCRMH193 | Length of mortgage/rental history in file does not meet guideline requirement | No | Missing 12 months canceled checks or pay history for the subject property. Lender is private party. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: The borrower has a 12 year credit history with 11 open and active tradelines 0X30 CFCFS1736: Significant time at current residence - Clayton Comments: The borrower has occupied their current primary for over 8 years CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Qualiyfing FICO is 800, minimum required by G/L is 680 |
| 2186759 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 797 mid score is > minimum required score of 620 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Verified Post Closed Assets of $XXXX / by PITIA of $XXXX6 =XXXX, is > minimum required of $25,724.88 CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 78.56% and is < maximum allowed 80% | |||||||||||||||
| 2196695 | XXXXXX | CA | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | C | B | C | B | A | A | A | A | C | B | C | B | A | A | A | A | Credit | Income/Employment | Satisfied | C | A | C | A | CRDINC888 | Income Amount is Unsupported by Documentation in File | No | Provide bank statements income analysis worksheet that has the expense factor and supports income on the final application of $14,610.62, this amount was used for qualification. | June 10th 2026, 5:10:39 pmbank stmts for 2025-20266.16.2026-Received the bank statements; did not received the Income Worksheet with the Expense Factor, exception remains.6.16.2026-Received the Income Worksheet, exception satisfied. | 6.16.2026-Exception remains.6.16.2026-Exception satisfied. | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 794 mid score 134 points> min required of 660 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post closing assets $XXXX / $XXXX PITIA = XXXX months > 6 min required of $37,593.3 |
| 2196695 | XXXXXX | CA | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | C | B | C | B | A | A | A | A | C | B | C | B | A | A | A | A | Credit | Terms/Guidelines | Active | C | B | C | B | CRDTER3256 | Seller contributions exceed guideline requirements | No | Seller contributions exceed the guidelines. Clayton deems this non-material. Compensating factors 794 FICO, 5 years at current employer, 15 months in reserves. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 794 mid score 134 points> min required of 660 CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post closing assets $XXXX / $XXXX PITIA = XXXX months > 6 min required of $37,593.3 |
| 2186744 | XXXXXX | CA | (No Data) | ATR/QM: Exempt | D | A | D | A | A | A | A | A | D | A | D | A | A | A | A | A | Credit | Legal Documents | Satisfied | D | A | D | A | CRDLGL1819 | Estimated HUD-1 in File, Missing Final HUD-1 | No | Please provide fully executed final HUD-1 | May 27th 2026, 6:08:41 pmPlease find the FSS5.28.2026-Received the Final HUD1, exception is satisfied. | 5.28.2026-Exception satisfied. | (No Data) | Not Applicable | CFCFS2860: Good credit history - Clayton Comments: Demonstrates Good Credit History CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: 171+ Months reporting CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 16 Months Reserves |
| 2186765 | XXXXXX | VA | (No Data) | ATR/QM: Exempt | D | A | D | A | A | A | A | A | D | A | D | A | A | A | A | A | Credit | Legal Documents | Satisfied | D | A | D | A | CRDLGL1819 | Estimated HUD-1 in File, Missing Final HUD-1 | No | Please provide Final HUD-1. | 6.23.26 FSS provided, please clear.6.23.26 exception satisfied | 6.23.26 exception satisfied | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 742 mid score 122 points > min required of 620 CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: Borrowers have 152 months mortgage payment history 0x30. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post closing assets $XXXX / $XXXX PITIA = XXXX months > 3 min required of $6616.02. |
| 2186750 | XXXXXX | TX | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1736: Significant time at current residence - Clayton Comments: In residence 35 years. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 65% is below guideline maximum of 80% for a DSCR purchase with an 800 credit score. CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $XXXX, or XXXX months. Reserves not required. | |||||||||||||||
| 2192302 | XXXXXX | GA | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | C | A | A | A | A | A | C | A | C | A | A | A | A | A | C | A | Compliance | State High Cost | Satisfied | C | A | C | A | CMPSTHC343 | XXX High-Cost Loan by exceeding point and fee threshold | No | Adjusted Charges are $17,966.50 or 5.016% and max allowed is $ 17,909.15 or 5.000%. | 6.9.26-Per client comment on "June 8th 2026, 10:58:43 am"- of "XXX agrees with your assessment. Please clear." Exception remains.6.11.26-Client provided Par Rate of 6.99%, Satisfied. | 6.11.26-Satisfied. | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 797 mid score 137 points > min required of 660 CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: Borrowers have 122 months mortgage payment history 0x30. CFCFS1734: Borrower has significant time at current job - Clayton Comments: Borrower has 22+ years at current job. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 78.54%; guidelines allow 80%. |
| 2186785 | XXXXXX | NJ | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $176,822.31, or 43.63 months. 3 months required. CFCFS1736: Significant time at current residence - Clayton Comments: In residence 7 years. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 76.50% is below guideline maximum of 80% for a DSCR cash out refinance with a 790 credit score. | |||||||||||||||
| 2186775 | XXXXXX | OH | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Verified Post Closed Assets of $XXXX / by PITIA of $XXXX = XXXX, is > minimum required of $3795.06 CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV is 76.5% and is < maximum allowed 80% CFCFS1741: Credit score exceeds guidelines - Clayton Comments: 721 mid score is > minimum required score of 620 | |||||||||||||||
| 2186761 | XXXXXX | OH | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: 42 Months Reserves CFCFS1736: Significant time at current residence - Clayton Comments: Owned Subject Property 10+ Years CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: Consumer Credit reporting for 49+ Months | |||||||||||||||
| 2192304 | XXXXXX | TX | QM: Safe Harbor (APOR) | QM: Safe Harbor (APOR) | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Reserves required $15,448.30 X 6 = $92,689.80. Post close reserves $205,253.42 or 13.28 months PITI CFCFS1734: Borrower has significant time at current job - Clayton Comments: The borrower has been XXX for 13 years CFCFS1744: DTI below guideline requirement - Clayton Comments: DTI is 18.14%. max allowed by G/L is 45% | |||||||||||||||
| 2186762 | XXXXXX | TX | (No Data) | ATR/QM: Exempt | B | B | B | B | A | A | N/A | N/A | B | B | B | B | A | A | N/A | N/A | Credit | Income/Employment | Active | B | B | B | B | CRDINC888 | Income Amount is Unsupported by Documentation in File | No | Provide Security Deposit and first months rent for the subject property lease. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1736: Significant time at current residence - Clayton Comments: Guarantor has owned primary residence for 9 years. CFCFS1742: Consumer credit history exceeds guidelines - Clayton Comments: The borrower has a 14 year history with 4 open tradelines CFCFS1740: Mortgage payment history exceeds guidelines - Clayton Comments: Guarantor has paid 0x30 for 47 months on mortgage obligations. |
| 2186787 | XXXXXX | OH | (No Data) | ATR/QM: Exempt | A | A | A | A | A | A | N/A | N/A | A | A | A | A | A | A | N/A | N/A | CFCFS1731: Verified cash reserves exceed guidelines - Clayton Comments: Post close reserves are $75,879.55, or 64.38 months. 3 months required. CFCFS1741: Credit score exceeds guidelines - Clayton Comments: Credit score of 732 exceeds guideline minimum of 720 for a DSCR cash out refinance at 76.09% LTV. CFCFS1737: LTV below guideline requirements - Clayton Comments: LTV of 76.09% is below guideline maximum of 80% for a DSCR cash out refinance with a 732 credit score. |