Exhibit 99.06 - Schedule 2
| Loan Number | Loan ID | Finding # | Last Name | Note Date | DD Start Date | DD Delivery Date | Audit Category | Audit Issue | Finding ID | Exception Finding | Remediation Status | Exception Rebuttal | Exception Response | Status Comment | Compensating Factors | SOL Expiration Date | Initial Findings Grade | Final Findings Grade | Initial Loan Grade | Final Loan Grade |
| XXXX | 2174699 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2174699 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Contract Addendum - Missing | XXXX | The borrower received $XXXX from the seller and $XXXX from the realtor; in total of $XXXX as IPCs. In addition, the purchase agreement obtained in the loan file reflects $XXXX as the sale price, with an addendum reflecting the price change to $XXXX. The closing instructions reflects the change in purchase price to $XXXX and the credits from the seller and realtor for the borrower; however, the closing instructions are not fully executed by all the parties confirming the change. The loan file does not contain addendums reflecting the change in sale price and IPCs as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient.(Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2174699 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2159544 | 1 of 10 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Missing | XXXX | The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a) | Acknowledged | 2 | 2 | 3 | 3 | |||||
| XXXX | 2159544 | 2 of 10 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non-Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumers' E-consents are required. (12 CFR §1026.19(f)(1)(ii)) The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 3 | ||||
| XXXX | 2159544 | 3 of 10 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Loan Estimate/Missing | XXXX | There is no evidence of a complete Loan Estimate provided in the loan file. As a result, testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Loan Estimate attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159544 | 4 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Repairs | XXXX | The appraisal indicated repairs and improvements were required to support value, and no final inspection or evidence of completion was found in the file. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Construction to Perm loans do not have completion documents in their initial underwriting files. |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. (Resolved) |
1 | 1 | 3 | 3 | |||
| XXXX | 2159544 | 5 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Construction to Permanent - CO/Missing | XXXX | Construction to Permanent Loan Missing final inspection and Certificate of Occupancy. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) No rebuttal is being done. |
Response 1 (XX/XX/XXXX XX:XXAM) There would be no XXXX on a construction loan. The loan is for the purpose of property construction. (Void) |
1 | 1 | 3 | 3 | |||
| XXXX | 2159544 | 6 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | FEMA | XXXX | XXXX declared XX/XX/XXXX for XXXX Hurricane XXXX [XX-XXXX-XXXX] with an incident period of XX/XX/XXXX and continuing through XX/XX/XXXX. XXXX declared XX/XX/XXXX for XXXX Hurricane XXXX [XX-XXXX-XXXX] with an incident period of XX/XX/XXXX and continuing through XX/XX/XXXX. XXXX declared XX/XX/XXXX for XXXX [XX-XXXX-XXXX] with an incident period of XX/XX/XXXX and continuing through XX/XX/XXXX. XXXX declared XX/XX/XXXX for XXXX Hurricane XXXX [XX-XXXX-XXXX] with an incident period of XX/XX/XXXX and continuing through XX/XX/XXXX. All of these incidents occurred after the original appraisal date XX/XX/XXXX. Please provide Property Inspection to confirm no damage. | Resolved | Response 1 (XX/XX/XXXX XX:XXPM) Documentation not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation provided is sufficient to clear the finding. (resolved) |
XXXX (XX/XX/XXXX XX:XXPM) please see BPO ordered -- no damage Buyer Comment 2 (XX/XX/XXXX XX:XXPM) please see BPO property in good condition |
3 | 1 | 3 | 3 | |||
| XXXX | 2159544 | 7 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Flood cert attached. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159544 | 8 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Builders risk insurance attached. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159544 | 9 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Tax Return Documentation Incomplete | XXXX | Tax returns for the previous two (XXXX) years (including all schedules and XXXX forms) were not obtained or were not properly retained in the file. The loan file contained personal and business tax returns for XXXX; however, XXXX tax returns were not included in the loan file. The borrower's income at origination was calculated using XXXX and XXXX tax returns. Despite this requirement, the XXXX tax returns for both personal and business were missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159544 | 10 of 10 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. | Upheld | Rebuttal 1 (XX/XX/XXXX XX:XXAM) 2nd AVM requested |
Response 1 (XX/XX/XXXX XX:XXAM) The AVM did not support the origination value within a 10% variance, the AVM resulted in a no hit. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation not received. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) BPO provided does not support the original appraised value within 10%. (upheld) |
XXXX (XX/XX/XXXX XX:XXPM) BPO uploaded XXXX (XX/XX/XXXX XX:XXPM) BPO uploaded XXXX 3 (XX/XX/XXXX XX:XXPM) BPO |
3 | 3 | 3 | 3 | ||
| XXXX | 2196804 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | QM - FAIL APR Lending Policy | XXXX | The loan does not qualify for APR Lending Policies. The loan exceeds the APR threshold as follows: The note amount for a first lien is greater than or equal to ($XXXX), and its APR calculated per the requirements of 12 CFR §1026.43(e)(2)(vi) is less than the APOR on the date the rate was set plus XXXX%; . The date used for rate set is XX/XX/XXXX. The loan is a Higher-Priced Covered Transaction subject to QM. Truth in XXXX (Regulation Z) 12 CFR 1026.43(e)(1)(ii). | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please update designation to Higher Priced QM APOR, as per our compliance report |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196804 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196804 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196805 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196805 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) please clarify as page XXXX of HOI states addt&#XXXX;l dwelling coverage and effective dates from XX/XX/XXXX to XX/XX/XXXX Rebuttal 2 (XX/XX/XXXX XX:XXPM) please see attached HOI RCE Rebuttal 3 (XX/XX/XXXX XX:XXPM) per FNMA guides, FNMA calls out for perils only when a policy excludes a certain peril. please clear condition Rebuttal 4 (XX/XX/XXXX XX:XXPM) please see attached from FNMA regarding seller guide update to HOI property insurance coverage. page pages XXXX & XXXX, documentation for replacement cost coverage is no longer needed, as the policy coverage amount is at a replacement cost basis Rebuttal 5 (XX/XX/XXXX XX:XXPM) please see attached email from insurance agent confirming all perils are covered |
Response 1 (XX/XX/XXXX XX:XXAM) This is not evidence of all perils coverage. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Additional coverage does not confirm coverage of Investor required named perils. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) This is a DSCR loan and this is an Investor requirement. (XXXX) Response 4 (XX/XX/XXXX XX:XXPM) Unable to clear. (XXXX) Response 5 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196805 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182155 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182155 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182155 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199538 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199538 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199538 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196926 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196926 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196926 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194267 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194267 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194267 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199539 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199539 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Appraisal Missing | XXXX | The loan file contains only the secondary valuation product (CDA) and the invoice for the primary valuation product (XXXX) which was not provided at origination as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) appraisal |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199539 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196925 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196925 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196925 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196924 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2196924 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196924 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2194268 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice to Borrower in Special Flood Hazard Area Disclosure was not received XXXX days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2194268 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2194268 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199537 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199537 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199537 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2190759 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2190759 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2190759 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199541 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199541 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199541 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199540 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199540 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199540 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191761 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2191761 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2191761 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199213 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199213 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. The included insurance does not state All Perils included, there is an email from the insurance representative in the loan file, however the email only states that wind and hail are included. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Under the &#XXXX;dwelling information&#XXXX; on the XXXXst page of the EOI, the policy form is indicated as &#XXXX;Basics Three&#XXXX; which is guideline compliant. Attached is a screenshot showing the policy form. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199213 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196713 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance Required | XXXX | XXXX Required. The Flood Notice in the loan file was not signed by the borrower. The Flood Notice should have been received at least XXXX days prior to closing. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2196713 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2196713 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Per Lender's guides, a background report is required for borrower(s) and entity. The loan file obtains a background report for the borrower; however, the report illegible. No other background is contained in the loan file for the borrower as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Re-uploaded the background checks for both borrowers. Please let XXXX know if the report remains illegible. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2196713 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2196711 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196711 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196711 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191763 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191763 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191763 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199206 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199206 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199206 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191762 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2191762 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2191762 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196715 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196715 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196715 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196715 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196712 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196712 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196712 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196714 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196714 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196714 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199208 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Page XXXX of the security instrument is missing the initials of the borrower. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) The borrower initialed the bottom of page XXXX of the attached Mortgage |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199208 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199208 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191764 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191764 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191764 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199210 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance Required | XXXX | The property is in a flood zone and the flood notice was not received by the borrower at least XXXX days prior to closing. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199210 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199210 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196716 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196716 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196716 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196717 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196717 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196717 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196718 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2196718 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196718 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199209 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment term test. The loan has a prepayment term that does not conform to the requirements for the lender's license type in the state where the property is located. Per XXXX 1343.011(C)(2)(b), loan amounts less than $XXXX (XXXX-XXXX units), prepayment penalties not allowed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199209 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199209 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199214 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199214 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199214 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199211 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2199211 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Alerts | XXXX | The guidelines indicate all fraud alerts must be cleared and/or addressed by borrower or credit bureau, includingInitial XXXX-day Alert, XXXX, Active-Duty Alert, and/or HAWK Alert. The XXXX's credit report reflects Fraud Alerts that were not addressed at origination. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) As of XXXXs latest guidelines issued on XXXX.XXXX, removing/addressing fraud alerts on a borrowers credit report is no longer required. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Attached are the most up to date XXXX guidelines effective XX/XX/XXXX. On page XXXX under &#XXXX;Credit Eligibility&#XXXX; you will see the removal of the mentioned fraud alerts as compared to our last version that was effective on XX/XX/XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Please provide a copy of the guide section with page number referenced in rebuttal. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199211 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The guidelines indicate the guarantor must provide an REO and a list of past real-estate transactions. The loan file is missing the required REO and list of past real-estate transactions. It should be noted property reports and additional guarantor owned entity documentation in file supported sufficient investor experience to qualify. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) REO schedule attached as well as the Operating Agreement for &#XXXX;XXXX&#XXXX; to tie out the experience. XXXX (borrower) owns XXXX% of XXXX. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199211 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The Guidelines indicate if there are State and Federal tax liens not labelled as released; the XXXX must provide proof of satisfaction or proof of payment plan. The XXXX's background report reflected an unpaid state tax XXXX dated XX/XX/XXXX ( < XXXX yr XXXX statutory for collection) for $XXXX. The loan file is missing documentation to support the XXXX was paid/satisfied or an LOE and payment arrangement. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) County website showing tax XXXX was satisfied attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199211 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199207 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2199207 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | The guidelines indicate that for XXXX–XXXX-unit properties, the appraisal must contain at least XXXX comparable sales in the same zip code XXXX within XXXX mile of the subject property. The appraisal report reflects (XXXX) comparable sales and (XXXX) listing, with only (XXXX) in the same zip code and (XXXX) XXXX mile (XXXX) and not in the same zip code (XXXX) and comparable # XXXX and 4 (listing) are in the same zip code as the subject property (XXXX). The appraisal report is missing XXXX comparable sales in the same zip code XXXX within XXXX mile of the subject property. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) As of XXXX latest guidelines issued on XXXX.XXXX properties labeled as &#XXXX;Suburban&#XXXX; sales comps are allowed up to XXXX miles from the subject property. Rebuttal 2 (XX/XX/XXXX XX:XXPM) The attached XXXX guidelines effective XX/XX/XXXX shows on page XXXX that the appraisal "must contain at least XXXX comparables within XXXX miles of the subject if subject is marked urban or within XXXX miles of the subject if subject is marked suburban." |
Response 1 (XX/XX/XXXX XX:XXAM) Please provide the guide section that contains the referenced information. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199207 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2196719 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196719 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196719 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199212 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199212 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199212 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196735 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196735 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196735 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201768 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: The Loan Agreement addendum to the Note is missing pages XXXX-XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201768 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Final Application - Missing | XXXX | The Final application is missing as required by guides. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) signed app attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201768 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196734 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196734 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Contract - Parties | XXXX | The purchase agreement reflects the XXXX as "XXXX" vs. the borrowing entity, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please see attached from title agent. |
Response 1 (XX/XX/XXXX XX:XXAM) Still missing updated contract. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196734 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | The guidelines indicate a background report is required for the Primary Sponsor and the Entity. The loan file is missing an background report for XXXX LLC and XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196734 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | The loan file is missing the EIN Verification Form for the borrowing entity (XXXX LLC). | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see EIN attached. Rebuttal 2 (XX/XX/XXXX XX:XXAM) XXXX LLC, is XXXX% owned by XXXX the EIN&#XXXX;s will be the same. providing w9 as well. |
Response 1 (XX/XX/XXXX XX:XXAM) Still missing EIN for XXXX LLC. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196734 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The guidelines indicate XXXX must be reviewed for approval on a case-by-case basis. The Borrowing Entity, XXXX LLC, is XXXX% owned by XXXX. The loan file does not contain documentation to support the loan transaction was reviewed at origination and received approval for a Borrowing Layered Entity. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see credit approval memo. Layered entity has been approved. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196734 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199203 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199203 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Property Type | XXXX | The subject property is an ineligible property type with XXXX+ units (XXXX Units). | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) This file was reviewed and approved, please see investor lock confirmation and approval memo. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199203 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or other secondary valuation to support the origination appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) please see attached. value is the same $XXXXK |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201766 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following sections of the Note are incomplete: Page XXXX top section and page XXXX at the bottom section of Loan Agreement are missing borrower's initials. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201766 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Contract Addendum - Missing | XXXX | The loan Final Hud-XXXX reflects XXXX in the amount of $XXXX that was not reflected in the purchase agreement. The loan file is missing a copy of the contract addendum/amendment for the Seller Credit. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201766 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Property Type | XXXX | Ineligible Property Type - XXXX+ Units. The subject property has XXXX Units. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see approval credit memo. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201766 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199205 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199205 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Borrower - Identification | XXXX | The loan application indicates the Borrower / Guarantor is a US Citizen, however the copy of the Borrower's SS Card in file reflects "for work authorization only." The loan file is missing documentation to support the Borrower's current citizenship status was verified at origination. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) green card attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199205 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | The Operating Agreement dated XX/XX/XXXX reflects the XXXX (XXXX) with XXXX% ownership interest in the XXXX. However, an amendment to the Operating Agreement dated XX/XX/XXXX, changing the registered agent was executed by the XXXX (XXXX) and XXXX both as members of XXXX. The loan file is missing documentation that clarifies the members of the entity and ownership interest as of the application/closing date. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX property management LLC is XXXX% but that is not our borrowing entity. XXXX has always been XXXX/XXXX split. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199205 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The guidelines indicate a minimum of XXXX months of ownership seasoning is required for cash out transactions. The Note and Final Hud-XXXX from the purchase transaction of the subject property reflects a closing date of XX/XX/XXXX, which is < XXXX mos. (XXXX mos.) from the XX/XX/XXXX closing date. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Seasoning - rehab was done to the property that added value. Seasoning is not required when value add rehab has been done to the property. Previous budget confirms work along with the appraisal. |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199205 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201769 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) incomplete: The Second member of LLC initials are missing for pages XXXX-XXXX and XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached they signed separately. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201769 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201769 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201770 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) incomplete: The Second member of LLC initials are missing for pages XXXX-XXXX and XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) borrowers did not sign together, please see attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201770 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201770 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file contains a CDA; however, the CDA was illegible. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see appraisal and DVR. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201767 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced Rider(s) / Legal Addendum(s) are missing: XXXX is missing. The appraisal is marked for property being located in a PUD and the title has an endorsement for a PUD Rider. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) there are no separate riders for PUDs or Condos. it is a built in clause to the Mortgage/Deed of Trust. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201767 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Final Application - Missing | XXXX | The Final application is missing as required by guides. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201767 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199204 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199204 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | The guidelines indicate transferred appraisals are allowed on a case-by-case basis and must be reviewed and approved by XXXX. The loan file contains an XXXX from the transferring lender (XXXX), however, the loan file is missing documentation that prior approval was given at origination for the transferred appraisal. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) approval email attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199204 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Borrower - Authorization | XXXX | The Borrower's Certification and Authorization Form was missing from the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) credit auth attached. Rebuttal 2 (XX/XX/XXXX XX:XXAM) The borrower's application has already been submitted and it's unclear why this is not sufficient. |
Response 1 (XX/XX/XXXX XX:XXAM) SSA Authorization does not satisfy defect. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Review of the application indicates there is a borrower authorization to obtain personal information for the loan transaction, pull a credit report, and provide other organizations with borrower's personal information pertaining to the loan. (Resolved). |
3 | 1 | 3 | 1 | |||
| XXXX | 2199204 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | The guidelines indicate a tri-merged credit report is required for every sponsor. The credit report is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) report attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199204 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Final Application - Missing | XXXX | The Final application is missing as required by guides. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) signed app attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199204 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198255 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198255 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198255 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | Guidelines allow Appraisal C4 condition of Rental loans for Purchase, Rate & Term, and Delayed Purchase transactions. The subject closed as a cash out transaction, which does not allow C4 appraisal condition. . | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached GL exception approval Rebuttal 2 (XX/XX/XXXX XX:XXPM) Exception provided by investor. |
Response 1 (XX/XX/XXXX XX:XXPM) Lender exception provided for C4 property on a cash-out refinance. Client to approve downgrading finding based on compensating factors. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: XXXX, LTV XXXX%, excellent mortgage payment history | 3 | 2 | 3 | 2 | ||
| XXXX | 2198255 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198256 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The borrower’s name on the Security Instrument does not match the title. Title reflects the current vested owner as XXXX; however, the mortgage lists XXXX, LLC. A recorded deed transferring ownership from XXXX to XXXX is required to confirm the borrower’s ownership interest in the property. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached email from title - this was a refinance that signed under the name of the LLC. Rebuttal 2 (XX/XX/XXXX XX:XXAM) See attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The Title commitment dated XX/XX/XXXX reflects the current vested owner as XXXX; the borrower is XXXX. Lender notes in the original loan file indicate there was a Warranty Deed that was recorded on XX/XX/XXXX between the two parties transferring ownership. Please provided this Warranty Deed to confirm the borrower’s ownership interest in the property and right to obtain a Mortgage on the property. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198256 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The borrowers reside in the state of XXXX which is a community property state. Entity vesting. Both borrowers are married per the marital status form. The Guaranty Agreements do reflect the spouses names; however, not signed as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198256 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198259 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198259 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Repairs | XXXX | The appraisal indicated repairs and improvements were required to support value, and no final inspection or evidence of completion was found in the file. The appraisal was subject-to-repair to repair of the electrical meter; however, the loan file contains no evidence that this issue was addressed. | Waived | Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted Compensating Factors: XXXX qualifying credit score, experienced investor, DSCR of XXXX, $XXXX verified reserves |
XXXX. XXXX DSCR. Experienced Investor. | 3 | 2 | 3 | 2 | ||
| XXXX | 2198259 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached email from the insurance agent confirming all perils. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198259 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. No value supporting documentation was present in the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198258 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198258 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Repairs | XXXX | The appraisal indicated repairs and improvements were required to support value, and no final inspection or evidence of completion was found in the file. The appraisal reflected rotten wood in several areas of the subject property; however, the loan file contains no evidence that this issue was addressed. | Waived | Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted Compensating Factors: XXXX qualifying credit score, experienced investor, DSCR of XXXX, $XXXX verified reserves |
XXXX. XXXX DSCR Experienced Investor. | 3 | 2 | 3 | 2 | ||
| XXXX | 2198258 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached email from the insurance agent confirming all perils coverage. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198258 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198260 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198260 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Other | XXXX | The subject was purchased XX/XX/XXXX as a cash transaction as evidenced by the Settlement Statement within XXXX months of the application date XX/XX/XXXX; therefore, considered a delayed purchase. The source of funds used to acquire the property is required to be documented per the guidelines and is missing from the file. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: XXXX, DSCR XXXX, cash reserves $XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2198260 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Loan Amount | XXXX | The subject was purchased XX/XX/XXXX as a cash transaction as evidenced by the Settlement Statement within XXXX months of the application date XX/XX/XXXX; therefore, considered a delayed purchase. The subject transaction loan amount is $XXXX. Guidelines on delayed purchase reflect the new loan amount may not exceed the initial purchase amount including closing costs which totals $XXXX. The loan amount exceeds maximum allowable under the guidelines. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: XXXX, DSCR XXXX, cash reserves $XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2198260 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2165593 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2165593 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Authorization | XXXX | The asset statements with XXXX XXXX and with XXXX XXXX reflect the account holder as XXXX. The file does not contain documentation of the borrower's/sponsor's ownership of the these assets as required by the guidelines. Additional conditions may apply. Noted, finding was also made on prefund review. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached OA for XXXX showing borrower as sole member. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2165593 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Cash to Close | XXXX | The file did not contain evidence the borrower had the proper amount of funds required to close. Funds required for subject closing were $XXXX ($XXXX EMD + $XXXX funds due at closing + $XXXX reserves). Assets were verified in the amount of $XXXX. As a result; funds for closing were short $XXXX. Noted, the prefund loan contained assets from XXXX #XXXX with available assets of $XXXX. This statement was not provided at post fund review. In addition, the post fund loan contained a cashiers check from XXXX to the title company on XX/XX/XXXX in the amount of $XXXX which is after the date of the statement provided in the file and there were not sufficient funds to support this wire; therefore, not considered. Furthermore, the post fund loan contained a wire dated XX/XX/XXXX to the title company in the amount of $XXXX that appears to be from XXXX. No statement in file for review for this account; therefore, not considered. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached bank documents. Total = $XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2165593 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The insurance policy in the file appears to be a commercial policy. The insurance policy is missing sufficient dwelling coverage/deductible and XXXX mortgagee clause. A separate email confirms perils and rent loss coverage. Additional conditions may apply. Noted, finding also made on prefund review. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached binder. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2165593 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, or 2nd appraisal to support the origination appraised value. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached. Rebuttal 2 (XX/XX/XXXX XX:XXPM) CDA indicates that variance is at XXXX%. PPF calculates the same. Please clear. Rebuttal 3 (XX/XX/XXXX XX:XXPM) Investor does not round - see attached email. Rebuttal 4 (XX/XX/XXXX XX:XXPM) Please see attached email from investor requesting to clear this condition. |
Response 1 (XX/XX/XXXX XX:XXAM) DVR value is just over XXXX% less than the appraised value. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Appraised value $XXXX. CDA $XXXX. $XXXX difference. XXXX. Does the Investor round this figure? (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) If $XXXX is used the LTV will exceed XXXX%. (XXXX) Response 4 (XX/XX/XXXX XX:XXAM) Waiver to accept XXXX% LTV based upon lower CDA value. (Waived) |
XXXX. XXXX DSCR. XXXX months of reserves. | 3 | 2 | 3 | 2 | ||
| XXXX | 2199591 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Signature Discrepancy | XXXX | The borrower is an entity however the Loan Agreement was signed as Individuals and as Members. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2199591 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced Rider is missing: Business Purpose and XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached business loan rider. Rebuttal 2 (XX/XX/XXXX XX:XXAM) See attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The Business Loan rider has been provided; please provide the Environmental rider for review. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199591 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199591 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199593 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199593 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199593 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs dated XX/XX/XXXX and XX/XX/XXXX, which support the original appraised values. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199592 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199592 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | A mortgage payment history is missing from the file for the mortgage with XXXX which was paid off at closing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See attached VOM. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199592 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199595 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Compliance Finding - Missing Business Purpose Documentation | XXXX | There are additional XXXX. Missing the following Business purpose documentation: The Cash Out letter does not explain the proceeds from the loan will be for business purpose. The Letter provided states the cash will be used to build another property and does not reference if this will be a rental/ investment property. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) See email from AE regarding the business purpose for the cash-out. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199595 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) See attached email confirming all perils. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199595 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199596 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice to Borrower in Special Flood Hazard Area Disclosure was not received XXXX days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199596 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199596 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199594 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199594 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199594 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2094822 | 1 of 11 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2094822 | 2 of 11 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is inaccurate: The entity documents provided support only one member, yet two members executed the Note. There are no entity documents or resolution to support the second member of the entity. We are unable to verify that the second individual is a Member of the Entity. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Documents provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documents provided are sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 3 of 11 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is inaccurate: The Note has a loan amount of $XXXX, a term of XXXX months, and a monthly P&I payment of $XXXX. At these terms the monthly P&I should reflect $XXXX. It appears this payment would be applicable if the loan amount was $XXXX which is reflected on some of the approvals. It appears either the loan amount on the Note is incorrect or the monthly payment. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see amended note, |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 4 of 11 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The entity documents provided support only one member, yet two members executed the Note. There are no entity documents or resolution to support the second member of the entity. We are unable to verify that the second individual is a Member of the Entity. | Resolved | Response 1 (XX/XX/XXXX XX:XXPM) Documents provided Response 2 (XX/XX/XXXX XX:XXPM) The documents provided are sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | ||||
| XXXX | 2094822 | 5 of 11 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Authorization | XXXX | The file does not contain authorization for funds access from joint account holder. The loan file contain a bank statement from XXXX that has another individual on it, and the loan file does not contain an authorization letter for access. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) see attached Rebuttal 2 (XX/XX/XXXX XX:XXPM) Truly older portfolio guides should be used based on funding date. |
Response 1 (XX/XX/XXXX XX:XXPM) The access letter must come from XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Per older guidelines borrower is entitled to the spouses percentage ownership in the assets. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 6 of 11 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | Missing required business documentation per guidelines. The loan file is missing the Operating Agreement for the borrowing entity known as XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) see attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 7 of 11 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The Flood Certificate is missing for the property located at XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) see attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 8 of 11 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Missing or Incomplete Lease Agreement | XXXX | Missing Lease agreement or not complete per guidelines. The loan file is missing the lease agreements for the following properties XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) see attached |
Response 1 (XX/XX/XXXX XX:XXPM) Still missing leases for XXXX, XXXX, XXXX, and XXXX. In addition, please provide either the expiring lease or the new pending lease for XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) All leases provided. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 9 of 11 | XXXX | XXXX | XXXX | XXXX | Credit | Note - Inaccurate | XXXX | Major issues were detected with the note. The loan file contains a Note that reflects an inaccurate XXXX and Interest payment, the Note is for $XXXX with a XXXX month term at an interest rate of XXXX with a XXXX and Interest payment amount of $XXXX. However, with the terms of the note the XXXX and Interest payment should be $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) see attached Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please see amended note |
Response 1 (XX/XX/XXXX XX:XXPM) Note inaccuracies have not been reconciled. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 10 of 11 | XXXX | XXXX | XXXX | XXXX | Credit | Sales Contract - Missing/Incomplete | XXXX | The sales contract in the loan file is not fully executed or incomplete/inaccurate. The sales contract in the loan file is inaccurate. The sales contract reflects a total purchase price of $XXXX, however page XXXX of the sale contract list all XXXX properties and the individual price for each, which adds up to $XXXX. Revised contract and/or addendum to reflect accurate purchase prices for each property is required. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) see attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2094822 | 11 of 11 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. Although the loan file contains CDAs for XXXX of XXXX of the subject properties dated XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, the loan file was missing a CDA for the subject properties located at XXXX, XXXX S Division, and XXXX E Lincoln | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) SSRs |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198014 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198014 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | There are additional appraisal findings. The subject appraisal dated XX/XX/XXXX reflects the lender/client to be "XXXX". The subject appraisal dated XX/XX/XXXX reflects the lender/client to be "XXXX". According to the note the lender is "XXXX. XXXX". The loan file did not contain a transfer letter. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please escalate this to XXXX for clearance. Our guidelines do not require an appraisal transfer letter for transferred appraisals and XXXX did not advise AFN that this is needed for transfer appraisals. |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Void) |
1 | 1 | 3 | 2 | |||
| XXXX | 2198014 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Per XXXX at XXXX, the uploaded HOI meets their guidelines. The HOI we provided is a Special coverage Policy with means it has replacement cost as per FNMA guides. Please let XXXX know if I need to do anything else on this. Rebuttal 2 (XX/XX/XXXX XX:XXPM) HOI Dec Page |
Response 1 (XX/XX/XXXX XX:XXPM) Evidence of Insurance appears to only reflect broad coverage. Please provide email from agent confirming all perils or referenced policy approval from Investor. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198014 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Property Type | XXXX | XXXX in file as the subject loan does not meet Program Parameters for Property Type. The subject property consists of a single family residence with XXXX separate accessory dwelling units (ADU) on the same property. Lender guides allow for properties with a maximum of XXXX ADU. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX granted an exception for this requirement with a LLPA hit. Please escalate this to XXXX. Rebuttal 2 (XX/XX/XXXX XX:XXPM) exception is approved from XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide Investor exception. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Comp Factors - XXXX months reserves and XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2198014 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. Second full appraisal dated XX/XX/XXXX supports value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198015 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198015 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced XXXX is missing: "Exhibit A" Legal Description. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Recorded DOT |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198015 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX: Tax Servicing. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198015 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198015 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199579 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199579 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches are missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199579 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CDA did not support original appraised value within -XXXX% but client guidelines allow the lower of the valuation value to be used. Per the rating agencies this is allowed but would be an EV2 grade. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX with EV2. |
Response 1 (XX/XX/XXXX XX:XXPM) EV2 Rating. (Resolved) |
2 | 2 | 3 | 2 | |||
| XXXX | 2199200 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial signed CD attached. |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2199200 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199200 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198245 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198245 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198245 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199578 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: The notary did not acknowledge if the signee/borrower was 'personally known' or provided 'satisfactory evidence' on the Loan Agreement PG XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) PG XXXX OF LOAN AGREEMENT WITH CORRECTION |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199578 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX authorized for the following: "allow more than XXXX properties." Considered non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived) |
Compensating Factors: DSCR XXXX, Credit Score XXXX, $XXXX post-closing reserves. | 2 | 2 | 3 | 2 | |||
| XXXX | 2199578 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2201853 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201853 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201853 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199577 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2199577 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | The loan file did not contain a background check to include a judgment and XXXX search for the borrowing entity, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Please see attached judgment and XXXX search. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199577 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The loan file contains a lender exception for credit score below XXXX on a purchase transaction. The actual score is XXXX. XXXX non material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived). |
Compensating Factors: LTV is XXXX% less than the max LTV, Borrower owns three or more investment properties. | 2 | 2 | 3 | 2 | |||
| XXXX | 2199577 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199576 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199576 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines. The entity is missing the full background showing liens and judgements. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199576 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201852 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2201852 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for "allow a rural property ." Determined non-material based on compensating factors. (Waived) | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived) |
com factors DSCR 1.XXXX XXXX experienced | 2 | 2 | 2 | 2 | |||
| XXXX | 2201852 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199575 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199575 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. Guideline requirement has not been met. Loan file is missing bank statements from XXXX acct #XXXX to cover XXXX consecutive months. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) updated guideline requires 1mo |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199575 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199574 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199574 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for " allow more than XXXX properties." Determined non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived) |
comp factors LTV XXXX% DSCR XXXX | 2 | 2 | 2 | 2 | |||
| XXXX | 2199574 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199573 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199573 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. Loan file is missing bank statements from XXXX for XX/XX/XXXX to complete XXXX consecutive months bank statements. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) updated guideline |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199573 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The loan file is missing evidence UW performed a Google Search of the borrower, XXXX and entity, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) google search |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199573 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) flood cert |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199573 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198244 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The borrowers did not date when signing the Mortgage Pg XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) XXXX uplaoded. |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
2 | 1 | 2 | 2 | |||
| XXXX | 2198244 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for " allow for investing in ira with no pricing adjustment required ." Determined non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived) |
comp factors ltv XXXX dscr XXXX fico XXXX | 2 | 2 | 2 | 2 | |||
| XXXX | 2198244 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198243 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198243 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Per the lender's guidelines a background report including a search for liens and judgments on the entity must be completed. The loan file is missing the background check for XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198243 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. According to the lender's guidelines guarantors are required to provided a limited application, authorization for a credit report and a background report as well as identification documentation. The loan file contains identification documentation; however, none of the other required documentation was provided for the non-borrowing guarantor, XXXX XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198243 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199572 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199572 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199572 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The Loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201851 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee, XXXX Review Fee. However, these fees should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2201851 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided to allow borrower to use gift funds for reserves. Determined non-material based on compensating factors (waived). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non material based on compensating factors. |
Compensating Factors: Residual income over $XXXXk, Total Reserves of XXXX months | 2 | 2 | 2 | 2 | |||
| XXXX | 2201851 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199571 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199571 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Per the guidelines a background check that includes a search for liens of judgments is required for the Entity. The required background check for entity XXXX and XXXX is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199571 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199570 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | State Disclosure - Texas Home Equity Loan Interest and Fees Preclosing Disclosure/Missing | XXXX | The XXXX Interest and Fees Preclosing Disclosure is Missing. Required to be provided in connection with a XXXX. XXXX Constitution - Home Equity Loan Provisions XXXX. Const. art. XVI, XXXX(a)(XXXX)(M)(ii); XXXX XXXX. XXXX. Code XXXX | Void | Response 1 (XX/XX/XXXX XX:XXPM) The BWR attesting to receiving the final fees within XXXX day of closing (Void) |
1 | 1 | 3 | 2 | ||||
| XXXX | 2199570 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Information/Loan Type | XXXX | The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however it should be Conventional. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(5)(iv) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2199570 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2199570 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (No Valid COC) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. The lender credit decreased on the CD issued on XX/XX/XXXX without a valid change of circumstance. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Docs uploaded. Rebuttal 2 (XX/XX/XXXX XX:XXAM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) We have received all of the cure document, LOE, PCCD. and XXXX with theexception of the Refund Check. Please provide a copy of the Refund check to be able to Resolve the finding. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2199570 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided to allow self employed borrower with business with less than a XXXX year history. Determined non-material based on compensating factors (waived). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) Determined non-material based on compensating factors (waived). |
Compensating Factors: DTI XXXX, XXXX | 2 | 2 | 3 | 2 | |||
| XXXX | 2199570 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198242 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198242 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198242 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198241 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198241 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198241 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. Then loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198240 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198240 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines. The loan file is missing the liens and judgements section. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See the attached No Hit reports. Rebuttal 2 (XX/XX/XXXX XX:XXPM) See the attached |
Response 1 (XX/XX/XXXX XX:XXAM) Please provide No Hit for XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198240 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198239 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198239 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - LTV | XXXX | XXXX provided to allow LTV that exceeds XXXX% for Rate/Term loan with DSCR less than XXXX. Determined non-material based on compensating factors (waived). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors. |
Compensating Factors: Experienced Investor, Repeat AHL Client | 2 | 2 | 2 | 2 | |||
| XXXX | 2198239 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198215 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198215 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The final XXXX reflected the borrower was currently living at his primary residence rent free. Lender guidelines state a management review and exception are required for all investors loam when living rent free explanation letter is provided in a place of a rental or mortgage payment history. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) exception |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX. XXXX DSCR. Experienced Investor. | 3 | 2 | 3 | 2 | ||
| XXXX | 2198215 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198238 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: The Note Pg XXXX late charge section is missing the grace period days. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198238 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198238 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198237 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The XXXX reflected on the title report reflects the property held in 'XXXX. A deed transferring ownership interest from 'XXXX to 'XXXX and XXXX is required to confirm ownership interest in the new mortgage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See the attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198237 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Power of Attorney Missing | XXXX | There is an individual on the Security Instrument who signed as an agent under a Power of Attorney but the Power of Attorney forms are missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See the attached limited POA |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198237 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198237 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198236 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198236 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198236 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201850 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Information/Loan Type | XXXX | The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however it should be Conventional. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(5)(iv) | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2201850 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2201850 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2201850 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199569 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199569 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | Guideline requirement has not been met. The signed Guarantee Agreements must be executed by a member of the entity, XXXX with XXXX% ownership. However, the Guaranty Agreement located in the loan file was signed by the borrower, XXXX who is XXXX% owner of the entity, XXXX and XXXX who is XXXX% owner of the entity, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) guarantor docs |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199569 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | UW to perform a Google search of the entity XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) google search |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199569 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199543 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199543 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. UW to perform a Google search of the entity, XXXX, LLC. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) google search |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199543 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Rent Loss Coverage is insufficient. The file is missing evidence of rent loss coverage equal to XXXX months of qualifying rent ($XXXX). Cash out proceeds may not be used to meet this XXXX months rent loss requirement. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) breakdown attached. there is enough coverage |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199543 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198235 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: The notary did not acknowledge if the borrower was 'personally known' or 'provided evidence to be the person who appeared before them' on the Loan Agreement Pg12. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See the attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198235 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198235 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198234 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following is missing: XXXX. Per the Appraisal, the property is located in a Planned Unit Development; however, a PUD rider was not provided in the loan file. In addition, the applicable rider section on page XXXX was also not accurately marked. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached email |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198234 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Per the guidelines a background check that includes a search for liens of judgments is required for the Entity. The required background check for entity XXXX is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached background check Rebuttal 2 (XX/XX/XXXX XX:XXPM) PLEASE SEE ATTACHED |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide No Hit results for XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198234 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches are missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached background check |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198234 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198233 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198233 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Per the guidelines a background check that includes a search for liens of judgments is required for the Entity. The required background check for entity XXXX is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) SEE ATTACHED-PROVIDED WITH ORIG UPLOAD- ENTITY FORMATION XXXX/XXXX Rebuttal 2 (XX/XX/XXXX XX:XXAM) PLEASE REVIEW BACKGROUND REPORT PULLED VIA TPO, FORMATION OF ENTITY XX/XX/XXXX Rebuttal 3 (XX/XX/XXXX XX:XXPM) Fraud Guard Report for business uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Document provided is not a background search. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient.(Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198233 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches are missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) SEE ATTACHED. |
Response 1 (XX/XX/XXXX XX:XXAM) Received business search. Still missing google search for the borrower. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198233 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198232 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198232 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. XXXX. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198232 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198232 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199568 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199568 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199568 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199542 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199542 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199542 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195972 | 1 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2195972 | 2 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | hisloan failed the XXXX rate spread home loan test. (XXXX GS §XXXX-XXXXF(a)(XXXX)). The loan is a rate spread home loan, as defined in the legislation. The loan is a compliant XXXX, prepayment, andappraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2195972 | 3 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Information/Loan Type | XXXX | The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however it should be Conventional. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(5)(iv) | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2195972 | 4 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2195972 | 5 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The loan file contains a lender exception to allow financing to XXXX% LTV. AHL guidelines state for sale by owner transaction must be arm's length AND the maximum LT for non arms length transaction is XXXX%. XXXX non-material based on compensating factors (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors (Waived). |
Compensating Factors: Excess reserves greater than XXXX months, years on job XXXX years, years at present address XXXX years, XXXX score XXXX. | 2 | 2 | 2 | 2 | |||
| XXXX | 2195972 | 6 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The loan file contains a Lender exception to allow the borrower to purchase the subject from his current landlord. AHL guidelines For Sale by Owner (FSBO) Transaction must be arm's-length. XXXX non-material based on compensating factors (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors (Waived). |
Compensating Factors: Excess reserves greater than XXXX months, years on job XXXX years, years at present address XXXX years, XXXX score XXXX. | 2 | 2 | 2 | 2 | |||
| XXXX | 2195972 | 7 of 7 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2201849 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201849 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201849 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX , which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199567 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions and/or increases: Closing Protection Letter Fee $XXXX, XXXX Fee $XXXX, XXXX Fee $XXXX, Lender's Title Insurance Policy $XXXX, Settlement or Closing Fee $XXXX, Title Endorsement Fee $XXXX, XXXX $XXXX, and Recording Fee $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) INITIAL LE WITH SSPL |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2199567 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2199567 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial LE/Delivery Date (from application) | XXXX | The loan failed the Initial Loan Estimate delivery date test (from application). The Initial LE issued on XX/XX/XXXX was not disclosed within XXXX days of the application date, XX/XX/XXXX. Truth in XXXX (Regulation Z) 12 CFR 1026.19(e)(1)(iii)(A) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial LE |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2199567 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions and/or increases: Points - Loan Discount Fee $XXXX, Underwriting Fee $XXXX, Appraisal Fee $XXXX, XXXX Fee $XXXX, and Credit Report Fee $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial LE |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2199567 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided to allow self employed borrower with less than XXXX year history. Determined non-material based on compensating factors (waived ). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors. |
Compensating Factors: DTI XXXX | 2 | 2 | 3 | 2 | |||
| XXXX | 2199567 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199566 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199566 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199566 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199565 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199565 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches are missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199565 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Per the guidelines, all guarantors must provide the following: XXXX) A limited application that includes their name, address, date of birth, social security number, and citizenship XXXX) A credit report along with a signed authorization for background check XXXX) Identification documentation as in a driver's license, passport, or similar. The loan file contains XXXX driver's license however all other required documentation for XXXX is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199565 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201848 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2201848 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided to allow Borrower with a XXXX to finance cash out refi with LTV of XXXX%. Determined non-material based on compensating factors (waived). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors. |
Compensating Factors: Assets exceed required reserves by XXXX mons, Experienced Investor | 2 | 2 | 2 | 2 | |||
| XXXX | 2201848 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199564 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199564 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199564 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the qualifying value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201847 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201847 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201847 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199563 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199563 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines. Background check and XXXX search for borrowing entity, XXXX XXXX, was not present in the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) BACKGROUND AND GOOGLE SEARCH FOR ENTITY |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199563 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing required STR Documents | XXXX | Missing required short term rental docs per guidelines. Waived a history of owning and managing a minimum of XXXX vacation rental over the last XXXX months. XXXX non-material based on compensating factors (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors (Waived). |
Compensating factors: Borrower has lived in primary for XXXX+ years, Investment LTV is less than or equal to XXXX% (Purchase) | 2 | 2 | 3 | 2 | |||
| XXXX | 2199563 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2201828 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201828 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201828 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value . | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201846 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2201846 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guidelines require that underwriter to perform a google search of the borrower and entity. The loan file did not contain a google search for either the borrower or the entity. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) google search |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2201846 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for LTV over XXXX%. XXXX allowable LTV with a credit XXXX is XXXX%. Subject loan closed at XXXX% LTV. | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors. (Waived). |
Compensating factors: DSCR greater than XXXX; Assets exceed required reserves by XXXX months, experienced investor | 2 | 2 | 3 | 2 | |||
| XXXX | 2201846 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199562 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: XXXX is missing the date of 'intent to be legally bound' and is not signed by the borrower. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199562 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199562 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198231 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198231 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for "allow for less than XXXX months seasoning for a land contract." Determined non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived) |
comp factors dscr XXXX ltv XXXX experienced | 2 | 2 | 2 | 2 | |||
| XXXX | 2198231 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2201845 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201845 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines. The loan file is missing a background with liens and judgements. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached Rebuttal 2 (XX/XX/XXXX XX:XXPM) The TLO search was uploaded, not a XXXX report. Can we have this revisited? |
Response 1 (XX/XX/XXXX XX:XXAM) XXXX received does not contain lien/judgement searches. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201845 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201844 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Information/Loan Type | XXXX | The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however it should be Conventional. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(5)(iv) | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2201844 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2201844 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided to allow self employed borrower with less than XXXX years income history. Determined non-material based on compensating factors (waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non material based on compensating factors. |
Compensating Factors: XXXX, DTI XXXX% | 2 | 2 | 2 | 2 | |||
| XXXX | 2201844 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198246 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198246 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198246 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198230 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198230 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: The late fee is missing the amount of days for the grace period on Pg XXXX of the Note. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) pg XXXX of note |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198230 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The vesting reflected on the title report reflects the property held in 'XXXX. A deed transferring ownership interest from 'XXXX to 'XXXX' is required to confirm ownership interest in the new mortgage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached XXXX. |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198230 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Minimum Trade Lines | XXXX | Per guidelines, borrower must have one tradeline open for XXXX months and active within the most recent XXXX months and two tradelines must be rated for XXXX months and may be opened or closed. Borrower does not have an open tradeline that has been open for XXXX-for months. Additionally borrower has no mortgage history. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) discover showing open and active the past XXXX XXXX. XXXX owns free and clear property, no mortgage rating required. Rebuttal 2 (XX/XX/XXXX XX:XXAM) EXCEPTION |
Response 1 (XX/XX/XXXX XX:XXAM) XXXX is an Authorized User account. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
XXXX% LTV. XXXX DSCR. XXXX months of reserves. | 3 | 2 | 3 | 2 | ||
| XXXX | 2198230 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. Borrower's FICO score is XXXX and does not meet minimum XXXX for delayed financing/Cash Out Refi. XXXX non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors (Waived). |
Compensating Factors: DSCR greater than XXXX, Assets exceed required reserves by XXXX months, Borrower has lived in primary for XXXX+ years |
2 | 2 | 3 | 2 | |||
| XXXX | 2198230 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199561 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions and/or increases: Courier /Messenger Fee $XXXX, Document Preparation Fee $XXXX, XXXX Fee $XXXX, Funding, Wire, or Disbursement Fee $XXXX, Sales Tax Settlement Services, $XXXX, Settlement or Closing Fee $XXXX, Title Endorsement Fee $XXXX and Lender Title Insurance $XXXX. A cost to cure in the amount of $XXXX is required, however $XXXX was reimbursed at closing , there is a remaining cost to cure in the amount of $XXXX. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial LE |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2199561 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial LE/Delivery Date (from application) | XXXX | The loan failed the Initial Loan Estimate delivery date test (from application). The Initial LE issued on XX/XX/XXXX was not disclosed within XXXX days of the application date, XX/XX/XXXX. Truth in XXXX (Regulation Z) 12 CFR 1026.19(e)(1)(iii)(A) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial LE |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2199561 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial LE/Delivery Date (prior to consummation) | XXXX | The loan failed the Initial Loan Estimate delivery date test (prior to consummation). The Initial LE issued on XX/XX/XXXX is less than seven business days before the Consummation Date, XX/XX/XXXX. Truth in XXXX (Regulation Z) 12 CFR 1026.19(e)(1)(iii)(B) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial LE |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2199561 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions and/or increases: Mortgage Broker Fee $XXXX, Underwriting Fee $XXXX, Appraisal Fee $XXXX, Credit Report Fee $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial LE |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2199561 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199561 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199560 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199560 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199560 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201843 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201843 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201843 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201842 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201842 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) flood cert |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201842 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198229 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198229 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for to allow a 1st time investor to use DSCR financing to purchase a short term rental. Determined non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived) |
comp factors: primary over XXXX years, fico XXXX, assets exceed required XXXX months | 2 | 2 | 2 | 2 | |||
| XXXX | 2198229 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199558 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The notary did not acknowledge if the signee/borrower was 'personally known' or 'provided evidence to be the person signing' on the Mortgage Pg XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See the attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199558 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for " allow minimum square footage for XXXX-XXXX unit property is XXXX unit XXXX is XXXX square feet that doesn't meet guidelines" Determined non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) XXXX non-material based on compensating factors. (Waived) |
comp fact FICO737 DSCR XXXX XXXX plus years in primary | 2 | 2 | 3 | 2 | |||
| XXXX | 2199558 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199557 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199557 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The borrower is living rent free with father and the subject property is less than XXXX miles from primary. According to guidelines a refinance is not eligible when borrower is living rent free and the subject property is vacant and is within XXXX miles of the borrowers primary residence. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Request to revisit. Please see the attached Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please see attached approved exception. |
Response 1 (XX/XX/XXXX XX:XXAM) Subject lease does not address defect. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Exception received. (Waived) |
Compensating Factors: XXXX, $XXXX reserves, experienced investor | 3 | 2 | 3 | 2 | ||
| XXXX | 2199557 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198228 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198228 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198228 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201841 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Upheld | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is not sufficient to clear the finding. The HUD provided was in the original loan file and cannot be determined to be final. Please provide an executed HUD or stamped as True and Certified. (Acknowledged) |
2 | 2 | 3 | 2 | |||
| XXXX | 2201841 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The guaranty agreement is missing the borrowers signature. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) guaranty signed by borrower Rebuttal 2 (XX/XX/XXXX XX:XXAM) signed Guaranty |
Response 1 (XX/XX/XXXX XX:XXAM) Still missing XXXX's signature. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2201841 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) guarantor docs |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2201841 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198227 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198227 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198227 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199556 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199556 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. Per Guidelines, UW is to perform a Google search on borrower and entity. A Google search was not in the file for either party. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) google search Rebuttal 2 (XX/XX/XXXX XX:XXPM) XXXX google search uploaded |
Response 1 (XX/XX/XXXX XX:XXAM) Still missing Google Search for XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199556 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) flood cert |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199556 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | The mortgage history in the loan file was incomplete or missing. Borrower is on title, however not obligated on Mortgage. Per Guidelines, a XXXX-month mortgage payment history to be provided. Payment history was not present in the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Mortgage is in XXXX name -see VOM, mortgage statement |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199556 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The CU score is XXXX on XX/XX/XXXX. No secondary valuation product was provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CDA Rebuttal 2 (XX/XX/XXXX XX:XXPM) CDA |
Response 1 (XX/XX/XXXX XX:XXAM) The CU score of XXXX was dated XX/XX/XXXX. An updated CU score on XX/XX/XXXX was XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199555 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199555 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided to allow Cash Out Refi for seasoning less than XXXX months from non-traditional title transfer. Determined non-material based on compensating factors (waived). | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors. |
Compensating Factors: XXXX, Experienced Investor | 2 | 2 | 2 | 2 | |||
| XXXX | 2199555 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198226 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198226 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. UW to perform a Google search of the entity, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) google search of entity |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198226 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201840 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2201840 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2201840 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199554 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HOEPA (High Cost)/Points & Fees | XXXX | The loan failed the high-cost mortgage (HOEPA) points and fees threshold test due to the following: The loan amount is $XXXX or more, and the transaction'stotal points and fees is $XXXX, which exceeds XXXX percent of the total loan amount of $XXXX. The following points and fees were included in the calculation: Document Preparation Fee $XXXX, Points - Loan Discount $XXXX, Processing Fee $XXXX, Underwriting Fee $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199554 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State & Local Predatory Lending | XXXX | This loan failed the high-cost home loan total points and fees threshold test due to one of the following findings: ( XXXX SB XXXX §XXXX , NMSA §XXXX-XXXXA-XXXX(Q)). The loan is a home loan where the principal loan amount is $XXXX or more and the total points and fees are more than XXXX% of the principal loan amount. The following fees were included in the test: Document Preparation Fee $XXXX, XXXX Fee $XXXX, Points - Loan Discount Fee $XXXX, Processing Fee $XXXX, Settlement or Closing Fee $XXXX, Title Document Preparation Fee $XXXX, Underwriting Fee $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199554 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199554 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198225 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198225 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. UW to perform Google search of the borrower, XXXX and the entity, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see the attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198225 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198224 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198224 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198224 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199553 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199553 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guidelines require that underwriter to perform a google search of the borrower and entity. The loan file did not contain a google search for either the borrower or the entity. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) google search |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199553 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199549 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199549 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Lender exception provided to allow co-insurance. XXXX non material based on compensating factors. (Waived) | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non material based on compensating factors. (Waived) |
Compensating Factors: XXXX, excess reserves, experienced investor | 2 | 2 | 2 | 2 | |||
| XXXX | 2199549 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198223 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198223 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. Guides require a Property Management Agreement between the borrower and the Property Manager when a XXXX acts as the agent for the property owner. The loan file is missing the required Property Management Agreement for the property manager reflected on the subject lease. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) SEE ATTACHED AGREEMENT |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198223 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199548 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199548 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport for all guarantors. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199548 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201839 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201839 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201839 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201838 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201838 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201838 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198222 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198222 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198222 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201837 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: XXXX is missing the date of 'intent to be legally bound'. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) exhibit B |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2201837 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201837 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2201836 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201836 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201836 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199547 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199547 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199547 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDA dated XX/XX/XXXX which supports the appraised. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199546 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
2 | 1 | 3 | 2 | |||
| XXXX | 2199546 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The vesting reflected on the title report reflects the property held in 'XXXX. A deed transferring ownership interest from 'XXXX to 'XXXX' is required to confirm ownership interest in the new mortgage. The QCD provided in the file was not executed. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199546 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches are missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199546 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CDA did not support original appraised value within -XXXX% but client guidelines allow the lower of the valuation value to be used. Per the rating agencies this is allowed but would be an EV2 grade | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX EV2. |
Response 1 (XX/XX/XXXX XX:XXPM) EV2 rating. (Resolved) |
2 | 2 | 3 | 2 | |||
| XXXX | 2201835 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201835 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201835 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198221 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198221 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Aged > 120 days | XXXX | The appraisal was > XXXX days at the time of closing with no updated value provided. The appraisal in the loan file is dated XX/XX/XXXX; which exceeds the XXXX days of the Note date requirement. The loan file does not contain a lender exception or a recertification of the value. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) EXCEPTION UPLOADED |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
XXXX% LTV. Experienced Investor. XXXX months of reserves. | 3 | 2 | 3 | 2 | ||
| XXXX | 2198221 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2201834 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2201834 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Per the guidelines the underwriter is required to perform a google search of the borrower and entity. The required google searches are missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2201834 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Per the guidelines, all guarantors must provide the following: XXXX) A limited application that includes their name, address, date of birth, social security number, and citizenship XXXX) A credit report along with a signed authorization for background check XXXX) Identification documentation as in a driver's license, passport, or similar. The loan file is missing the required documentation for XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2201834 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided to allow amendment to operating agreement after the application date. Determined non-material based on compensating factors (waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) Determined non-material based on compensating factors (waived). |
Compensating Factors: XXXX | 2 | 2 | 3 | 2 | |||
| XXXX | 2201834 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198220 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198220 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guidelines require a Property Management Agreement between the borrower and the XXXX when a XXXX acts as the agent for the property owner. The loan file is missing the required Property Management Agreement for the property manager reflected on the subject lease. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) agreement |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198220 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198219 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198219 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198219 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199545 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
2 | 1 | 3 | 2 | |||
| XXXX | 2199545 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines. The loan file is missing the entire background with liens and judgements. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) background |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199545 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX provided for " allow to approve up to XXXX%LTV on a purchase ." Determined non-material based on compensating factors. (Waived). | Waived | Response 1 (XX/XX/XXXX XX:XXAM) Determined non-material based on compensating factors. (Waived). |
comp factors DSCR XXXX assets exceed required reserves by XXXX months and borrower has XXXX plus investments properties experienced investor | 2 | 2 | 3 | 2 | |||
| XXXX | 2199545 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198218 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198218 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. UW to perform Google Search of the borrower, XXXX and the entity, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See the attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198218 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199544 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan has a prepayment term. (XXXX. Comp. XXXX. §438.31c(XXXX)(c)Under XXXX. Comp. XXXX §438.31c(XXXX)(c), a loan secured by a single-family dwelling unit shall not charge a prepayment feeor penalty in excess of XXXX% of the amount of any prepayment made within XXXX years of the date of the loan, or any prepayment fee orpenalty at all thereafter, or prohibit prepayment at any time. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199544 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199544 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value . | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2201833 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan has a prepayment term. (XXXX. Comp. XXXX. §438.31c(XXXX)(c)Under XXXX. Comp. XXXX §438.31c(XXXX)(c), a loan secured by a single-family dwelling unit shall not charge a prepayment feeor penalty in excess of XXXX% of the amount of any prepayment made within XXXX years of the date of the loan, or any prepayment fee orpenalty at all thereafter, or prohibit prepayment at any time. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2201833 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | According to guidelines all guarantors are required to provide a loan application, authorization for credit report and background report as well as identification documentation. The loan file is missing the required documentation for the non borrowing guarantor, XXXX. Additionally, the signature is missing on the Guaranty Agreement for XXXX XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) guarantor docs |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2201833 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2201832 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
2 | 1 | 2 | 1 | |||
| XXXX | 2201832 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The borrower is living rent free with mother and the subject property is less than XXXX miles from primary. According to guidelines refi transactions are not eligible when the borrower is living rent free and the subject property is within XXXX miles of primary residence. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Guideline says ‘vacant’ and within XXXX miles. We have the lease, security deposit and 1st XXXX rent |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. (Void) |
1 | 1 | 2 | 1 | |||
| XXXX | 2201832 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains the CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 2 | 1 | |||||
| XXXX | 2201831 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201831 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2201831 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198016 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198016 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | Assets were required in the amount of $XXXX ( XXXX months reserves). Assets were verified in the amount of $XXXX (cash-out proceeds) resulting in short reserves in the amount of $XXXX. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached. Exception has been accepted by XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX. XXXX DSCR. Experienced Investor. | 3 | 1 | 3 | 1 | ||
| XXXX | 2198016 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198017 | 1 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Non-Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a non-compliant HPML due to the following: Appraisal requirements have not been met (The Notice of Right to Receive Appraisal issued within XXXX business days from application). | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) The loan is a compliant Federal HPML, XXXX requirements have been met. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198017 | 2 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Missing | XXXX | The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198017 | 3 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) initial CD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2198017 | 4 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Loan Estimate/Missing | XXXX | There is no evidence of a complete Loan Estimate provided in the loan file. As a result testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) all LEs |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198017 | 5 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | Additional Finding: XX/XX/XXXX. The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the addition to the following fees was not accepted: Second Appraisal. The Appraisal Delivery Certification in the loan file indicates the XXXX was completed on XX/XX/XXXX. delivered on XX/XX/XXXX and not disclosed to the borrower until XX/XX/XXXX; this is not within XXXX days of knowledge as required. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) PCCD for PR for cure |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2198017 | 6 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198017 | 7 of 7 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198018 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Recording Fee increased on CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Please see cure docs attached Rebuttal 2 (XX/XX/XXXX XX:XXAM) Cure docs attached. Sorry, last time I did attach but must have forgotten to click "Upload" |
Response 1 (XX/XX/XXXX XX:XXPM) Documents not received. Please resubmit. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2198018 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Tax Service Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
2 | 1 | 3 | 2 | |||
| XXXX | 2198018 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | XXXX in file as the subject loan does not meet Program Parameters for vesting. The vesting is in the borrower's business name for the owner occupied subject, which is not allowed per guidelines. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Per XXXX, she approved the downgrades Rebuttal 2 (XX/XX/XXXX XX:XXAM) Hello, not sure what you need here. The condition states that the lender exception is in file but the last comment states to provide lender exception. Please see attached confirming that XXXX approved downgrade. |
Response 1 (XX/XX/XXXX XX:XXAM) Please provide Investor exception or XXXX to add XXXX rebuttal comment. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Comp Factors - XXXX% DTI and LTV XXXX% | 3 | 2 | 3 | 2 | ||
| XXXX | 2198018 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | The loan file is missing the credit report for the borrower XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Credit Report |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198018 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Adverse Credit | XXXX | XXXX in file as the subject loan does not meet Program Parameters for delinquent taxes paid at closing rather than prior to application as required per guidelines. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Per XXXX, she approved the downgrades Rebuttal 2 (XX/XX/XXXX XX:XXAM) Hello, not sure what you need here. The condition states that the lender exception is in file but the last comment states to provide lender exception. Please see attached confirming that XXXX approved downgrade. |
Response 1 (XX/XX/XXXX XX:XXAM) Please provide Investor exception or XXXX to add XXXX rebuttal comment. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Comp Factors - XXXX% DTI and LTV XXXX% | 4 | 2 | 3 | 2 | ||
| XXXX | 2198018 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The LCA score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198019 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The Notary Acknowledgement section is incomplete. The names of the individuals which personally appeared before the Notary Public are missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198019 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198019 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196928 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Credit Report. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please find the attached certification, initial closing disclosure and final closing disclosure. Please clear. Thank you. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please find attached the credit report invoice validating the increase in the credit report fee. Please accept. Thank you. Rebuttal 3 (XX/XX/XXXX XX:XXPM) Hello please see attached the PCCD, check for the cure and mailing address (sent regular mail). Please clear the condition. Thank you. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The COC and lender explanation do not provide a valid or specific reason supporting the increase in the credit report fee. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The Credit Report Invoice discloses the date of XXXX the increases and the increase were on XX/XX/XXXX and XX/XX/XXXX and not disclosed until the CD on XX/XX/XXXX. A cost to cure in the amount of $XXXX remains. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2196928 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2196928 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2194262 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2194262 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The loan file is missing the Guaranty Agreement as signed by the XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Personal guaranty |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2194262 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191743 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2191743 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - LTV | XXXX | XXXX in file as the subject loan does not meet Program Parameters for LTV. The LTV is XXXX%. Lender guides allow XXXX% LTV when unable to document rent with newly executed lease. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Hello please find attached the exception approval for the ltv of XXXX%. Please clear the condition. Thank you. |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO XXXX+ over min requirement (XXXX min/actual XXXX); experienced investor with XXXX properties; primary ownership XXXX years. | 3 | 2 | 3 | 2 | ||
| XXXX | 2191743 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2195774 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2195774 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | The appraiser noted a possible safety hazard. The driveway is lower than the garage sill causing a "trip hazard." Client to Review. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Escalation |
Response 1 (XX/XX/XXXX XX:XXPM) While the driveway is lower than the garage, it's minimal and not a factor. (Void) |
1 | 1 | 4 | 1 | |||
| XXXX | 2195774 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Borrower - Residency Alien Documentation | XXXX | The Final XXXX indicates that both XXXX) are Permanent Resident Aliens. The loan file is missing a copy of Green Card/Resident Alien Card or other qualifying, non-expired documentation to support the Borrower(s) lawful citizenship status. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Hello, It was confirmed that each borrower is a US Citizen. The XXXX has been updated to reflect the citizenship status for each borrower. Please clear. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 4 | 1 | |||
| XXXX | 2195774 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2195777 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2195777 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | The subject transaction is a cash-out refinance and the XXXX reflected on the Appraisal is "XXXX," vs, the Borrower XXXX or XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Please see the updated appraisal with corrected owner of record. Please clear. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2195777 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | The XXXX provided an Operating Agreement and an Amended/ Addedum Operating Agreement for the Borrowing Entity XXXX. The original Operating Agreement provided was not executed by the Borrower/Member XXXX (Sole Member). | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please find the signature page of the XXXX XXXX XXXX Operating AGreement. It is signed and executed. Please accept. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Document received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2195777 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The guidelines indicate the hazard insurance coverage of the dwelling, excluding other structures, must be equal to or greater than either, XXXX% of the replacement cost per a replacement cost estimator, the estimated cost to replace the dwelling from a recent appraisal or the unpaid principal balance of the mortgage loan (provided it's no less than XXXX% of the replacement cost. The evidence of insurance reflects dwelling coverage of $XXXX which is < XXXX% of the $XXXX replacement cost. It should be noted the evidence of insurance indicates "modified" replacement cost but the amount is not reflected. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Please find attached the certification confirming there was sufficient insurance coverage for the subject loan. Please clear the condition. Thank you. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please see attached explaining endorsement includes All Perils. This was the last item needed. Thank you. Rebuttal 3 (XX/XX/XXXX XX:XXPM) Please see the attached confirming all perils on the policy. Please clear. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation does not confirm All Perils coverage. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) The policy is an FP XXXX Rental Dwelling (not XXXX) which does not cover all perils. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2195777 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The FraudGuard report for the borrower in file reflects the Loan Officer for the subject transaction was not authorized to represent the XXXX during the application/loan closing period. The NMLS search provided also reflects an "inactive status" as of XX/XX/XXXX. The loan file is missing documentation to support the Loan Officer's active NMLS status during the application/closing period. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXAM) The NMLS in file (at time of closing) is XXXX. Please see the final XXXX as well as the NMLS listing. Rebuttal 2 (XX/XX/XXXX XX:XXAM) Please find the attached certification indicating per XXXX guidelines, licensing in XXXX is not required. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) NMLS status is inactive and unable to conduct business. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Investor review is required to determine if an exception is required. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Finding voided. Licensing is not required in XXXX for a business purpose/DSCR loan. |
1 | 1 | 3 | 1 | |||
| XXXX | 2195777 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199533 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199533 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Miscalculated/DTI Exceeds Tolerance | XXXX | The income is miscalculated on one or more borrowers, however the recalculated DTI is not within allowable tolerances (XXXX%) or DTI MAX. The subject loan is a 2nd Home purchase of a XXXX under the XXXX months business bank statement program. The borrower owns XXXX rental properties along with their primary, and the origination underwriter used the gross rental income at XXXX% without accounting for the required XXXX% vacancy factor. XXXX of the XXXX properties are rented with executed leases in the loan file, and as a result of the miscalculation, the correct XXXX% vacancy factor calculation increased the DTI from XXXX% to XXXX% exceeding DTI maximum guidelines of XXXX%. ***additional conditions may apply *** | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX Incomes Added: XXXX wage; Rental income on XXXX; and Rental income on XXXX. Resulting DTI down to XXXX% & well within guidelines. Income details broke out in the uploaded write up. Updated XXXX/XXXX reflects all changes. Documentation noted in the write up is uploaded to this condition even though some of it is already in file. Condition satisfied. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199533 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - LTV | XXXX | The LTV does not meet the program eligibility guidelines. The subject loan is a 2nd Home purchase of a XXXX under the XXXX months business bank statement program with a LTV of XXXX%; however, the program guidelines reflect XXXX have a maximum LTV of XXXX%. Therefore, the subject loan is an ineligible transaction. ***additional conditions may apply *** | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) LTV XXXX% is allowed. Please see write up with supporting documentation. Please remove condition. |
Response 1 (XX/XX/XXXX XX:XXAM) Agree. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2199533 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182369 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182369 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182369 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191744 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191744 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | The investor guidelines required a minimum of XXXX months PITIA or $XXXX. Total borrower funds verified were $ XXXX minus total of the required closing funds of $XXXX resulted in remaining borrower funds for reserves of $XXXX. Assets were short of the required reserves in the amount of $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Providing proof POC $XXXX cleared to increase total verified assets by $XXXX & cure short reserves. Please see write up and documents uploaded. These documents are already in the file but uploaded here for ease of reference. Total verified assets: $XXXX POC + $XXXX EM + $XXXX gift + XXXX XXXX accts $XXXX + XXXX acct $XXXX = $XXXX $XXXX exceeds required assets $XXXX. Required reserves now met. Condition satisfied. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2191744 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Gift Letter - Donor Qualification | XXXX | XXXX funds in the amount of $XXXX, reflecting donor as XXXX. A wire receipt to the closing agent reflected the receipt of $XXXX gift funds reflecting a source of funds from XXXX and did not indicate donor, XXXX as the owner of this business. Investor guidelines required proof that gift funds were received from the donor on the gift letter. Required documentation of that XXXX was the sole owner of XXXX was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX is principal owner of XXXX. Condition satisfied. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 1 | |||
| XXXX | 2191744 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Insurance agent provided policy jacket which covers this binder. Please see starting at page XXXX. Meets All Perils requirement. Condition satisfied. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2191744 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182371 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX., however the mortgage lists XXXX. A deed transferring ownership interest from XXXX. to XXXX is required to confirm ownership interest in the new mortgage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Quit claim deed from XXXX to borrower. Condition satisfied |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182371 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182371 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182372 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182372 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182372 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187521 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187521 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | QM - Points and Fees | XXXX | The loan's points and fees exceed the Qualified Mortgage points and fees threshold. The loan amount is $XXXX or more, and the transaction's total points and fees is $XXXX, which exceeds XXXX percent of the total loan amount of $XXXX. The following fees were included in the testing: Credit Report $XXXX, Document Preparation $XXXX, Flood Certification $XXXX, MERS $XXXX, Recording Fee $XXXX, Recording Services $XXXX, Settlement or Closing Fee $XXXX, Tax Report $XXXX, Tax Service $XXXX and XXXX Guaranty Fee $XXXX. If discount points and fees are bona-fide and excludable, provide undiscounted rate. Truth In Lending Act (Regulation Z) 12 CFR 1026.43(e)(2)(iii), (e)(3). | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Condition is not valid. Please see write up with supporting details. QM is not to be tested on Non-QM loans. Please adjust test accordingly. |
Response 1 (XX/XX/XXXX XX:XXPM) The information provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187521 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | QM - Rebuttable Presumption | XXXX | This loan does not qualify for a safe harbor level of compliance with the qualified mortgage rule. (12 CFR 1026.43(b)(4), (e)(1)). The loan has an APR of XXXX%. The APR threshold to qualify for a safe harbor is XXXX%. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Non-QM. |
Response 1 (XX/XX/XXXX XX:XXPM) The information provided is sufficient to clear the finding. (Resolved) |
2 | 1 | 3 | 1 | |||
| XXXX | 2187521 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - DTI | XXXX | Thesubject loan is a cash-out refinance of a primary residence. A review of the VOM reflects the mortgage loan being paid off was in the name of the borrower’s spouse only. The subject loan is in the borrower’s name only. Per the lender’s guidelines the maximum DTI for borrowers without a recent XXXX-month housing payment history is XXXX%. The subject loan was approved with a DTI of XXXX%. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX disagrees with the condition. First-Time homebuyer restrictions do not apply. Please see write up with supporting documentation. Please remove condition |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. XXXX is a community property State. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187521 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187520 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187520 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Property Type | XXXX | XXXX in file as the subject loan does not meet Program Parameters for Property Type. The guidelines indicate that Rural properties will be considered by exception only and are restricted to a XXXX% LTV max. The subject property is considered Rural as reflected in the neighborhood section of the appraisal report and closed with a XXXX% LTV. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please downgrade with the XXXX approved exception. Thank you. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please see approved exception that was already approved with XXXX. Thanks |
Response 1 (XX/XX/XXXX XX:XXAM) Documents not received. Please resubmit. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating Factors: XXXX Fico, XXXX months PITI Reserves | 3 | 2 | 3 | 2 | ||
| XXXX | 2187520 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. the loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2185111 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2185111 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | HELOC - Closure Letter | XXXX | Loan file does not contain evidence to verify HELOC Closure as required. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Condition is not valid. Please remove. Only heloc in transaction and on credit is XXXX CU #XXXX and it is Open. It is associated with XXXX and is included in dti. Please see write up with snips of these items. |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. (Void) |
1 | 1 | 3 | 1 | |||
| XXXX | 2185111 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191747 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191747 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191747 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2185109 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2185109 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2185109 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195776 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2195776 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Inquiries | XXXX | The guidelines indicate all recent inquiries within XXXX days of the credit report date must be explained by the borrower. A detailed explanation letter that specifically addresses both the purpose and outcome of each inquiry is required. The credit report reflects inquiries < XXXX days from the credit report dated (XX/XX/XXXX) that were not addressed in the credit inquiry letter provided from the Borrower(s). The loan file is missing a LOE for the following credit inquiries: XXXX/XXXX on XX/XX/XXXX and XX/XX/XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Please see attached signed letter regarding the credit inquiries. Please clear. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2195776 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187522 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187522 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187522 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191745 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX . The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191745 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191745 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195773 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (Revised Disclosure Late) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the decrease to lender credits was not accepted as valid. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) There is no LE that is dated XX/XX/XXXX. There is a locked LE dated XX/XX/XXXX, then a change of circumstance on XXXX/XXXX. Rebuttal 2 (XX/XX/XXXX XX:XXAM) Hello please find the attached certification. Please clear the condition. Thank you. |
Response 1 (XX/XX/XXXX XX:XXPM) The citation is stating the change of circumstance occurred on XXXX/XXXX. The COC form dated XXXX/XXXX only states pricing was changed without any reason provided. When comparing the LE on XXXX/XXXX to the next LE on XXXX/XXXX the only change appears to be LTV due to appraised value change. The appraisal was completed on XXXX/XXXX. Additionally, the UCDP Submission Summary which reflected the new appraised value was dated XXXX/XXXX. Therefore, the COC date of when lender became aware of the LTV change is considered to be XXXX/XXXX. This is not within XXXX days of re-disclosure of pricing on LE issued XXXX/XXXX. Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2195773 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - OFAC Screening | XXXX | The guidelines indicate persons from OFAC sanctioned countries and persons sanctioned by OFAC are ineligible for financing. The loan file contains a FraudGuard Result Summary that reflects a possible OFAC hit for the Borrower XXXX XXXX. The loan file is missing documentation of a clear OFAC search for the Borrower. It should be noted an full FraudGuard report was not provided, only the summary of results. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Hello, please see the specific XXXX results for the party of XXXX. The specific party on the OFAC lists is not located in the US--but instead in XXXX. Please clear the condition as the OFAC search does not pertain to this specific party. The borrower has resided XXXX years at current residence. XXXX years on current employment. On the credit report there were only US addresses noted. The party on the OFAC results is not the subject person. Please clear the condition. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Borrower Birth Date does not match the OFAC hits. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2195773 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182373 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182373 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182373 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187524 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187524 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | The guidelines indicate a XXXX month VOM is required for the subject property and the Borrower's primary residence. The loan file is missing evidence the XX/XX/XXXX payment for the subject property was made. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please remove the condition.. Loan file already contains proof XX/XX/XXXX payment was made and on time. Please see write up and electronic VOM sent from XXXX/Shellpoint showing November payment made on XX/XX/XXXX on time for Mortgage #..XXXX. Write up and copy of VOM uploaded |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187524 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182370 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182370 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182370 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191746 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191746 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Other | XXXX | The guidelines indicate assets held in a trust used to qualify require documentation of the account value (bank statements) and documentation that the borrower has access to the funds. The XXXX MM #XXXX account is held as XXXX. The loan file is missing a copy of the Trust Agreement or other acceptable documentation to document the conditions under which the borrower has access to the funds. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Trust agreement for XXXX. XXXX is a Trustees (page XXXX). XXXX #XXXX is specifically referenced on page XXXX. Pages XXXX-XXXX provide additional information. XXXX has access to XXXX #XXXX. Please also note XXXX statement does list XXXX as Trustee. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2191746 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191748 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191748 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The loan application reflects borrower owns primary; however, no documentation provided to confirm borrower has ownership interest. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Borrower/XXXX lives at XXXX but is not on title (no ownership) and her Spouse, XXXX, alone is on Freedom mortgage #XXXX. XXXX, with no ownership nor mortgage responsibility on primary residence, is now considered Rent-Free. Rent-Free letter obtained from XXXX and uploaded to condition. Please see write up and uploads referenced in the write up. XXXX, with no ownership nor mortgage responsibility on primary residence, is now considered Rent-Free. Rent-Free letter obtained from XXXX and uploaded to condition |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2191748 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191749 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191749 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | The mortgage history in the loan file was incomplete or missing. The loan file did not contain XXXX months housing payment history as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Borrower/XXXX lives at XXXX but is not on title (no ownership) and her Spouse, XXXX, alone is on Freedom mortgage #XXXX. XXXX, with no ownership nor mortgage responsibility on primary residence, is now considered Rent-Free. Rent-Free letter obtained from XXXX and uploaded to condition. XXXX, with no ownership nor mortgage responsibility on primary residence, is now considered Rent-Free. Rent-Free letter obtained from XXXX and uploaded to condition. Condition satisfied. Please clear. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2191749 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. The loan file also contained a CDA dated XX/XX/XXXX that supported the value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2195775 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2195775 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Condo - Other | XXXX | XXXX in file for the condo project marketing phase being approved, but subject legal phase and entire project not yet approved. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached. This was already approved by XXXX. Thank you. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please find the attached exception form. Please clear the condition. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Investor exception not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: XXXX Fico > XXXX+ minimum required, 0x30x60 Mortgage History | 3 | 2 | 3 | 2 | ||
| XXXX | 2195775 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2173472 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2173472 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Gift Letter - No Evidence of Funds | XXXX | The Closing Disclosure reflected an $XXXX gift was provided. The investor guidelines required evidence of the donor's transfer of the funds to the closing agent by copy certified check, cashiers check or other official check from donor to closing agent. Required documentation of donor funds to the closing agent was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached wire documenting $XXXX gift transferred from the donor to the title company. Please clear. Thank you. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2173472 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. Investor guidelines reflected if both CU and LCA were provided that both must ben<= to XXXX. LCA provided with a score of XXXX. CU score was XXXX. CDA was required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Please find attached the CDA supporting value. Thank you. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2185110 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section of the Note is incomplete: Prepayment XXXX is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Docs uploaded. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Correct document uploaded. Note with prepayment addendum for this loan. |
Response 1 (XX/XX/XXXX XX:XXAM) Documents received do not address finding. Please resubmit. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2185110 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2185110 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187523 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. (XXXX). However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2187523 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Contract Addendum - Missing | XXXX | The Final CD reflects Seller Contributions for $XXXX. The purchase agreement reflects a Seller Contribution for $XXXX (Addendum #XXXX). The loan file is missing the contract addendum increasing the Seller Contribution to $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached which clears this condition. Thank you. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please see attached that clears this condition. Thanks |
Response 1 (XX/XX/XXXX XX:XXAM) Documents not received. Please resubmit. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2187523 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191886 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191886 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for the borrower to include criminal records search. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception email from XXXX Rebuttal 2 (XX/XX/XXXX XX:XXAM) XXXX -Back ground check exception approved by XXXX Rebuttal 3 (XX/XX/XXXX XX:XXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Exception email not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Document received is not an Investor exception. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: $XXXX reserves, DSCR XXXX, LTV XXXX% | 3 | 2 | 3 | 2 | ||
| XXXX | 2191886 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198870 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198870 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198870 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198860 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section(s) of the Note is incomplete: The Note has Interest Only payments of XXXX in section XXXX of the note, and in section XXXX of the Note (Payments of Principal and Interest) the section should reflect payment and interest, but the payment referenced is only interest. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198860 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | The subjects properties landlord was reflected as XXXX. The assets utilized for the required funds were also in the name of XXXX. The borrowing entity name was XXXX. The investor guidelines required the Operating Agreement to support the ownership of XXXX for the use and percentage of assets allowable and support the landlord on the lease. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Agreement attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198860 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The subject's Note reflected the terms on the Note were for Interest Only payments beginning XX/XX/XXXX until maturity date which was reflected as XX/XX/XXXX. Additionally, the Note reflected loan requires that on the maturity date, borrower make a balloon payment of all unpaid principal, interest, charges, fees, costs and any other unpaid amounts due under the loan documents. The investor guidelines allowed for a XXXX year fixed term with a XXXX year interest only and did not indicate a XXXX year interest only with a balloon payment on maturity date as an acceptable term for the Note. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198860 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The hazard insurance policy provided shows the insured as XXXX. The investor guidelines required the insured on the policy be in the name of the XXXX, XXXX or the guarantor for the loan. Updated hazard policy showing the correct insured party was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Policy in the name of the Borrowing Entity, XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198860 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198862 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198862 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198862 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196650 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196650 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196650 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198861 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The Vested Interest on the Security Instrument is inconsistent with the XXXX. Title reflects current Vested Interest as XXXX, whereas the Security Instrument reflects XXXX. There is no evidence of a transfer deed in the loan file for the change. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Transfer deed attached |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198861 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198861 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The required CDA was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CDA attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198871 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198871 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The loan was missing current hazard insurance policy on the subject property with evidence of sufficient XXXX replacement cost. Additionally, the declaration page does not reflect the annual premium and proof that the annual premium has been paid in full was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) The Declaration page, Revised Insurance and Paid receipt are attached Rebuttal 2 (XX/XX/XXXX XX:XXAM) The Coverage information is marked with special coverage ensuring all perils are covered. Rebuttal 3 (XX/XX/XXXX XX:XXAM) Please see the attached confirmation from the agent. Special is checked off. The X next to Special indicates that it is marked. The other box next to it indicates if there is an additional option not listed. |
Response 1 (XX/XX/XXXX XX:XXAM) All perils are not reflected. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Broad coverage is selected. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198871 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198865 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The loan is a XXXX-year fixed close-end product. The Open-end Form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198865 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The Hazard and Flood Insurance policies were not complete. The declaration pages reflected the policy numbers for both hazard and flood insurance as "TBD" and did not reflect the premium amounts for the hazard and flood insurance. The Alta for the subject reflected a lump sum payment of $XXXX; however, it was not possible to determine if this premium included both flood and hazard. Final flood and hazard policies complete with policy numbers and premium breakdown for each policy required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Insurance docs and receipt attached Rebuttal 2 (XX/XX/XXXX XX:XXAM) Agent Confirmation attached |
Response 1 (XX/XX/XXXX XX:XXAM) Broad coverage was selected. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) XXXX policy reflects "special" for all perils coverage. (Resolved). |
3 | 1 | 3 | 2 | |||
| XXXX | 2198865 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The required CDA was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CDA attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198866 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. XXXX is a XXXX-year fixed close-end product. The Open-end Form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198866 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The Hazard and Flood Insurance policies were not complete. The declaration pages reflected the policy numbers for both hazard and flood insurance as "TBD" and did not reflect the premium amounts for the hazard and flood insurance. The Alta for the subject reflected a lump sum payment of $XXXX; however, it was not possible to determine if this premium included both flood and hazard. Final flood and hazard policies complete with policy numbers and premium breakdown for each policy required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Insurance docs and receipt attached Rebuttal 2 (XX/XX/XXXX XX:XXPM) Email from agent confirming special coverage is marked off and included |
Response 1 (XX/XX/XXXX XX:XXAM) Broad coverage was selected. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) XXXX policy reflects "special" for all perils coverage. (Resolved). |
3 | 1 | 3 | 2 | |||
| XXXX | 2198866 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. Required CDA not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CDA attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198869 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums was late. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2). | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198869 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The loan is a XXXX-year fixed close-end product. The Open-end Form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security instrument covers the correct debt and terms. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198869 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The Hazard and Flood Insurance policies were not complete. The declaration pages reflected the policy numbers for both hazard and flood insurance as "TBD" and did not reflect the premium amounts for the hazard and flood insurance. The Alta for the subject reflected a lump sum payment of $XXXX; however, it was not possible to determine if this premium included both flood and hazard. Final flood and hazard policies complete with policy numbers and premium breakdown for each policy required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Insurance docs and paid recipe attached Rebuttal 2 (XX/XX/XXXX XX:XXAM) Agent Confirmation attached |
Response 1 (XX/XX/XXXX XX:XXAM) Broad coverage was selected. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) XXXX policy reflects "special" for all perils coverage. (Resolved). |
3 | 1 | 3 | 2 | |||
| XXXX | 2198869 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The required CDA was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CDA attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2196651 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan has a prepayment term. (XXXX. Comp. XXXX §438.31c(XXXX)(c) Under XXXX. Comp. XXXX §438.31c(XXXX)(c), a loan secured by a single-family dwelling unit shall not charge a prepayment fee or penalty in excess of XXXX% of the amount of any prepayment made within XXXX years of the date of the loan, or any prepayment fee or penalty at all thereafter, or prohibit prepayment at any time. This loan has a XXXX year prepayment term. This restriction does not apply to loans insured or guaranteed by the federal government or by any agency of the federal government. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2196651 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | Per the guidelines, a CDA is required on all SFR properties. The loan file did not contain a CDA. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CDA Attached |
Response 1 (XX/XX/XXXX XX:XXPM) CDA provided supports origination appraised value within 10%. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2196651 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for borrowing entity. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) BGC attached for the XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2196651 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) The attached policy covers all perils. Confirmed by the Policy Form: Dwelling Fire Three |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2196651 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a AVM dated XX/XX/XXXX which does not support the appraised value within 10%. A CDA was provided dated XX/XX/XXXX which does support the appraised value. As the CDA is a second valuation product, per the rating agencies, this is graded as an EV2. | Cleared | 2 | 2 | 3 | 2 | |||||
| XXXX | 2200808 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2200808 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Contract Addendum - Missing | XXXX | The Alta Settlement Statement reflected the seller paid $XXXX towards the borrower's closing cost. The purchase contract was missing the addendum to support the seller concession paid. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Purchase contract attached Rebuttal 2 (XX/XX/XXXX XX:XXPM) Please see attached |
Response 1 (XX/XX/XXXX XX:XXAM) $XXXX seller contribution is not reflected on the contract. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2200808 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. The XXXX insurance policy provided was a broad form and did not indicate that All Perils coverage was included. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Insurance policy attached covering all perils Rebuttal 2 (XX/XX/XXXX XX:XXAM) Insurance document attached |
Response 1 (XX/XX/XXXX XX:XXAM) All Perils is not reflected. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2200808 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The required CDA was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CDA attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198863 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198863 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198863 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The required CDA was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CDA report attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2196652 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196652 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The subject closed in the name of XXXX. The Note date was XX/XX/XXXX. The investor guidelines required a Certificate of Good Standing within XXXX days from the XXXX date. Certificate of Good Standing within XXXX days of the note date was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Certificate of good standing for XXXX attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196652 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198864 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198864 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The subject closed in the name of XXXX. The Note date was XX/XX/XXXX. The investor guidelines required a Certificate of Good Standing within XXXX days from the XXXX date. Certificate of Good Standing within XXXX days of the note date was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Certificate of good standing for XXXX attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198864 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198867 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198867 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198867 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194261 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2194261 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for the borrower to include criminal records search. XXXX report provided does not reflect a criminal record search for the borrower. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception request from XXXX 2 (07/XXXX/XXXX XXXX:45AM) XXXX ground check exception approved by XXXX (XX/XX/XXXX XXXX:XXXXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Awaiting Investor exception. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Document received is not an Investor exception. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO score XXXX, $XXXX reserves, experienced investor | 3 | 2 | 3 | 2 | ||
| XXXX | 2194261 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The subject loan does not meet Program Parameters. Guidelines require an ACH form on all DSCR ratios less than XXXX. The subject DSCR ratio is XXXX, therefore, required. This form is missing from the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please prove guideline requiring ACH form. Rebuttal 2 (XX/XX/XXXX XX:XXPM) ACH form |
Response 1 (XX/XX/XXXX XX:XXAM) Page XXXX of the DSCR Legend guides at the bottom. Last bullet point. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2194261 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2200809 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2200809 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Final Application - Missing | XXXX | The Final application is missing as required by guides. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Loan application attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2200809 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198868 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198868 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | The photos of the rear of the subject property reflected that windows on the rear of the subject property had security bars. The appraiser did not provide commentary on whether the security bars had quick releases. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX attached Please see the comment: THE SECURITY BARS DO HAVE BREAKAWAYS AND THE WINDOWS CAN BE OPENED |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2198868 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The required CDA was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CDA Attached |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2195772 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195772 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195772 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177345 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177345 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177345 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191908 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was:XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191908 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DTI - Exceeds Guidelines | XXXX | The DTI of XXXX% exceeds guidelines of a maximum DTI of XXXX%. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception approved |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
$XXXX per month residual income. XXXX% LTV. XXXX months of reserves. | 3 | 2 | 3 | 2 | ||
| XXXX | 2191908 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2160361 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2160361 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2160361 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2168059 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2168059 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | Sufficient reserves to meet underwriting requirements and PITI were not verified in the file. The borrower's required reserves for XXXX months total $XXXX. Funds to close total $XXXX, along with verified EMD of $XXXX result in total required assets of $XXXX. The borrower's verified assets total $XXXX, which results in a reserve shortage of $XXXX. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please see attached. Per the UW: per the Final SS Borrowers funds to close are $XXXX with a refund of $XXXX = $XXXX, verified funds to close are $XXXX minus XXXX months PITI $XXXX = $XXXX available for closing. My calculations are we have excess of $XXXX not short. Rebuttal 2 (XX/XX/XXXX XX:XXAM) Can we get an exception on the shortage of $XXXX? |
Response 1 (XX/XX/XXXX XX:XXAM) Based upon updated HUD: funds required: $XXXX EMD + $XXXX funds to close + $XXXX reserves = $XXXX total required. Funds available: Cleared EMD $XXXX + XXXX #XXXX $XXXX + XXXX #XXXX $XXXX + XXXX #XXXX $XXXX + XXXX #XXXX $XXXX = $XXXX total available. Shortage of $XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Exception must be granted by Investor. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX (XX/XX/XXXX XX:XXAM) Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, XXXX% DTI, $XXXX monthly residual income, XXXX years self-employed |
XXXX. XXXX% LTV. $XXXX per month residual income. | 3 | 2 | 3 | 2 | |
| XXXX | 2168059 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187496 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187496 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187496 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191907 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191907 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | Borrower required to bring $XXXX to close in addition to $XXXX reserves to be verified, totaling $XXXX; however, only assets of $XXXX were verified, resulting in a shortage of $XXXX. The XXXX balance of $XXXX was used to satisfy requirements; however, Borrower is XXXX% owner and only funds of $XXXX could be used, per guidelines. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Uploaded XXXX% access to funds letter. Please grant an exception for the $XXXX shortage. Thank you Rebuttal 2 (XX/XX/XXXX XX:XXPM) We submitted the Exception request with XXXX for less than XXXX months reserves on XXXX/XXXX . Please advise if granted. Thank you Rebuttal 3 (XX/XX/XXXX XX:XXPM) Exception approved |
Response 1 (XX/XX/XXXX XX:XXPM) Exception must be granted by Investor. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Exception has not been provided. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
XXXX% DTI. XXXX Score. $XXXX per month residual income. | 3 | 2 | 3 | 2 | ||
| XXXX | 2191907 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Other | XXXX | Guidelines require non-borrowing owners of the business to provide a signed and dated letter acknowledging the transaction and confirmation the borrower has access to funds in the account. The file is missing a signed and dated letter from the other XXXX% owner of the business. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Uploaded the LOE from his wife for the XXXX%. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2191907 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2196921 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2196921 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Bank Statements | XXXX | The loan file is missing account owners name for XXXX XXXX and XXXX XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) assets |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 4 | 1 | |||
| XXXX | 2196921 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2196920 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196920 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other/Missing | XXXX | The loan file is missing the bank statements from XXXX XXXX for May XXXX and June XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) bank stmt |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196920 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2177346 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177346 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177346 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191910 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191910 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191910 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196916 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 4 | 2 | |||||
| XXXX | 2196916 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing | XXXX | The Security Instrument (Mortgage/Deed of Trust) is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) deed |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
4 | 1 | 4 | 2 | |||
| XXXX | 2196916 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Title Commitment - Incorrect | XXXX | The title commitment reflects an incorrect insured amount. The required amount should be reflected as $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) prelim |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 4 | 2 | |||
| XXXX | 2196916 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 4 | 2 | |||||
| XXXX | 2196917 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196917 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196917 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196918 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached XXXX is a Dry state loan disbursed XX/XX/XXXX Rebuttal 2 (XX/XX/XXXX XX:XXPM) Thisis a XXXX property which is a DRY state. This loan may have signed7/XXXX but did not fund/ close until XXXX/XXXX which I uploaded the Final stmt thatreflects that. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The loan failed the initial CD delivery timing (prior to consummation). The documents provided are the closing documents. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. The date of consummation is the date of the notarization of the Mortgage not the funding date; however, electronic receipt was located clearing the exception. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2196918 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Cash to Close | XXXX | The loan file is short funds to close by $XXXX. This is due to the final proceeds for the sale of XXXX, XXXX, CA XXXX being $XXXX as opposed to the estimate of $XXXX. Due to the assets not being updated, the loan is not short funds to close. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached $XXXX was wire to title XXXX + XXXX = $XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196918 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | The loan file is short reserves by $XXXX. This is due to the final proceeds for the sale of XXXX, XXXX, CA XXXX being $XXXX as opposed to the estimate of $XXXX. Due to the assets not being updated, the loan is not short funds to close. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see attached $XXXX was wire to title XXXX + XXXX = $XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196918 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The loan file is missing the lease agreement for XXXX, XXXX, XXXX XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) lease Rebuttal 2 (XX/XX/XXXX XX:XXAM) Lease Agreement is signed. |
Response 1 (XX/XX/XXXX XX:XXAM) Lease is not executed. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Document received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196918 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187494 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Disclosures/Escrow Account | XXXX | The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: It was not disclosed if the Borrower declined it or if the Lender does not offer an escrow account. | Acknowledged | XXXX | 2 | 2 | 2 | 2 | ||||
| XXXX | 2187494 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2187494 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2187495 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187495 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187495 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU scores is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195770 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2195770 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) certification |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2195770 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2195771 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195771 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2195771 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196919 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196919 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196919 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191909 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191909 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191909 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196923 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196923 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196923 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196922 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Missing | XXXX | The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2196922 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the addition to the following fees was not accepted: Underwriting fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) COC CD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2196922 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2196922 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2179011 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For on the PCCD issued on XX/XX/XXXX. (Attorney XXXX and Wire/Disbursement Fee). However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2179002 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Missing | XXXX | The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a). | Acknowledged | 2 | 2 | 3 | 3 | |||||
| XXXX | 2179002 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section of the Security Instrument (Mortgage/Deed of Trust)is incomplete: The name of the condominium project is missing from the condo rider. | 3 | 3 | 3 | 3 | ||||||
| XXXX | 2179002 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - $100 Tolerance Threshold/Non-Rescindable | XXXX | The loan failed the TILA Finance Charge tolerance test. Per Regulation Z, the Finance Charge is considered inaccurate if the disclosed Finance Charge is understated by more than $XXXX. The final (last revised) CD issued on XX/XX/XXXX has a disclosed Finance Charge of $XXXX, which is less than the system calculated Finance Charge of $XXXX. The Finance Charge on the final CD is understated by $XXXX which is more than the allowable tolerance of $XXXX. The following fees were included in the Finance Charge calculation: ALPD Processing Fee, Administration Fee, CPL Fee, XXXX, Electronic Delivery Service Fee, E-Recording Service Fee, Flood Certification, Funding Fee, Loan Origination Fee, Prepaid Interest, Processing Fee, Settlement or Closing Fee, Tax Service Fee, Overnight Fee, Underwriting Fee and Wire Transfer Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 3 | ||||
| XXXX | 2179002 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: XXXX (XX/XX/XXXX). A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 3 | ||||
| XXXX | 2179005 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183755 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Incomplete | XXXX | The following section of the Note is incomplete: Prepayment addendum is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) PPA to note |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2183755 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183755 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179006 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Credit Report Fee. A cost to cure in the amount of $XXXX is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2178996 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | This loan failed the charges that in total cannot increase more than XXXX% test. (12 CFR §1026.19(e)(3)(ii)). A valid change of circumstance was not provided in the loan file; therefore, the increase to the following fee was not accepted: Title - Lender's Title Insurance on the revised CD issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer, PCCD, copy of the refund and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2178995 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2179008 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | FACTA Disclosure - Missing | XXXX | The FACTA Disclosure (Notice to Home Loan Applicant/Credit Information Disclosure) is missing. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2179008 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - $35 Tolerance Threshold/Rescindable | XXXX | The loan failed the Rescission Finance Charge tolerance test. Per the special foreclosure rule under Regulation Z, for loans subject to the right of rescission the Finance Charge is considered inaccurate if the disclosed Finance Charge is understated by more than $XXXX. The final (last revised) CD issued on XX/XX/XXXX has a disclosed Finance Charge of $XXXX, which is less than the system calculated Finance Charge of $XXXX. The Finance Charge on the final CD is understated by $XXXX, which is more than the allowable tolerance of $XXXX. The following fees were included in the Finance Charge calculation: Application $XXXX, Title - Closing Service Letter $XXXX, Commitment $XXXX, Title - E-Document/E-Recording $XXXX, Flood Certification $XXXX, Title - Filed Notice of Settlement $XXXX, Prepaid Interest $XXXX, Title - Settlement $XXXX, Title - Payoff Process $XXXX, Title - Transaction Management $XXXX, Title - Overnight $XXXX and Title - Wire Charge $XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery. Additionally, rescission needs to be re-opened. Truth in XXXX (Regulation Z) 12 CFR 1026.23(h)(2)(i). The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2179008 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | This loan failed the charges that cannot increase test. (12 CFR §1026.19(e)(3)(i)). A valid change of circumstance was not provided in the loan file; therefore, the increase to the following fee was not accepted: Credit Report on the revised CD issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2179001 | 1 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | FACTA Disclosure - Missing | XXXX | The FACTA Disclosure (Notice to Home Loan Applicant/Credit Information Disclosure) is missing. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2179001 | 2 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - $35 Tolerance Threshold/Rescindable | XXXX | The loan failed the Rescission Finance Charge tolerance test. Per the special foreclosure rule under Regulation Z, for loans subject to the right of rescission the Finance Charge is considered inaccurate if the disclosed Finance Charge is understated by more than $XXXX. The final (last revised) CD issued on XX/XX/XXXX has a disclosed Finance Charge of $XXXX, which is less than the system calculated Finance Charge of $XXXX. The Finance Charge on the final CD is understated by $XXXX, which is more than the allowable tolerance of $XXXX. The following fees were included in the Finance Charge calculation: Application $XXXX, Commitment $XXXX, Flood Certification $XXXX, Title - CPL $XXXX, Title - E-Document $XXXX, Title - Filed NOS $XXXX, Title - Settlement $XXXX, Title - Settlement Copy $XXXX, Title - Discharge of Mortgage $XXXX, Title - Transaction Management $XXXX, Title - Wire Charge $XXXX and Prepaid Interest $XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer, PCCD, copy of the refund and proof of delivery. Additionally, rescission needs to be re-opened. Truth in XXXX (Regulation Z) 12 CFR 1026.23(h)(2)(i). The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2179010 | 1 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Title Search Fee $XXXX, XXXX Fee $XXXX, XXXX Fee $XXXX, Endorsement Fee $XXXX, and Recording Fee $XXXX. A cost to cure in the amount of $XXXX was required in which $XXXX was reimbursed at closing. There is a remaining cost to cure in the amount of $XXXX required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2179010 | 2 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Closing Fee added on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2183714 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183719 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No COC - Date Undeterminable) | XXXX | The loan failed the charges that cannot increase test. Although the addition/increase may be valid, because a COC was not provided, auditor is unable to determine if the revised Loan Estimate issued on XX/XX/XXXX was disclosed within XXXX business days of the change. Therefore, the increase to the following fee was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2175274 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Revised CD Delivery Date (Waiting Period, APR) | XXXX | XXXX Required: An APR outside of allowable tolerance required a corrected Closing Disclosure and the corrected Closing Disclosure was not received by the borrower at least three business days prior XXXX the Consummation Date. The CD issued on XX/XX/XXXX had an increase of more than XXXX% and a new XXXX-day waiting period was not observed. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175274 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the Revised CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions/increases: Mortgage Broker Fee. A cost XXXX cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175274 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175274 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under XXXX support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 3 | 2 | |||
| XXXX | 2175276 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2175276 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2175276 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. CU in file no value/score given. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) XXXX orders the appropriate secondary value product in these cases per email from XXXX/Digital Risk. |
Response 1 (XX/XX/XXXX XX:XXPM) DVR not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
XXXX (XX/XX/XXXX XX:XXPM) BPO Uploaded Buyer Comment 2 (XX/XX/XXXX XX:XXPM) BPO Uploaded |
3 | 1 | 3 | 1 | ||
| XXXX | 2178997 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175277 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175277 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175277 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 1 | 2 | |||
| XXXX | 2183716 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: XXXX added on revised CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2183720 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For on the revised PCCD issued on XX/XX/XXXX (Credit Report). However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2183741 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175278 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175278 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175278 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 1 | 2 | |||
| XXXX | 2175279 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Missing Signature | XXXX | The Note was not fully executed by the borrowers. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Attaching a copy of the Note |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175279 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175279 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 3 | 2 | |||
| XXXX | 2175280 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175280 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175280 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 1 | 2 | |||
| XXXX | 2178998 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | This loan failed the charges that cannot increase test. (12 CFR §1026.19(e)(3)(i)). A valid change of circumstance was not provided in the loan file; therefore, the addition of the following fee was not accepted: XXXX fee on the revised CD issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer, PCCD, copy of the refund and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175282 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175282 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175282 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 1 | 2 | |||
| XXXX | 2183727 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. Because the loan failed the initial CD delivery date test , any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following increases: recording Fee. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2183727 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (Disclosure Timing Fail) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. Because the loan failed the initial CD delivery date test , any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2183727 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation)- Rescindable | XXXX | Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: Without evidence of receipt, it is assumed that the disclosure dated XX/XX/XXXX was mailed, and therefore not received by the consumer XXXX business days prior to the consummation date, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumer's E-consent is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2183727 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following increases: Points. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2183743 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Closing Information/Settlement Agent info | XXXX | The PCCD issued on XX/XX/XXXX does not reflect the settlement agent name. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(3)(iv) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2183743 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Disclosures/Escrow Account | XXXX | The Escrow Account Disclosure on the PCCD issued on XX/XX/XXXX is incomplete due to the following: It was not disclosed if the borrower declined or if the lender does not offer an escrow account. Truth in XXXX (Regulation Z) 12 CFR 1026.38(l)(7). The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 2 | 2 | 3 | 2 | ||||
| XXXX | 2183743 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | This loan failed the charges that cannot increase test. (12 CFR §1026.19(e)(3)(i)). A valid change of circumstance was not provided in the loan file; therefore, the addition of the following fee was not accepted: Document Preparation on the revised LE issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175283 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175283 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175283 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 1 | 2 | |||
| XXXX | 2175284 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175284 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 2 | |||||
| XXXX | 2175284 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 1 | 2 | |||
| XXXX | 2183713 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2183706 | 1 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Recording Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2183706 | 2 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Appraisal, Transfer Taxes. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2175285 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175285 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | FEMA | XXXX | FEMA Declaration declared XX/XX/XXXX for XXXX Severe Winter Storms, Flooding Landslides, And XXXX (DR-XXXX-XXXX) with an incident period of XX/XX/XXXX – XX/XX/XXXX which is after the Note Date of XX/XX/XXXX. No appraisal in file as the loan was approved for a Property Inspection Waiver. Please provide Property Inspection to confirm no damage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX – In viewing the loan notations there are no notifications showing from the customer regarding property damage. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
XXXX (XX/XX/XXXX XX:XXPM) Disaster Inspection Uploaded |
3 | 1 | 3 | 2 | ||
| XXXX | 2175285 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination stated appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the stated appraised value. As this was a PIW loan, per the rating agencies, this is graded an EV2. (Resolved) |
3 | 2 | 3 | 2 | |||
| XXXX | 2183715 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189409 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189409 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189409 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183744 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Appraisal. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2179016 | 1 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | ROR - Timing | XXXX | This loan failed the TILA right of rescission test. Closed-end (12 CFR §1026.23(a)(3), transferred from 12 CFR §226.23(a)(3)), Open-end (12 CFR §1026.15(a)(3), transferred from 12 CFR §226.15(a)(3)) The funding date, XX/XX/XXXX is before the third business day following consummation, XX/XX/XXXX. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2179016 | 2 of 2 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Revised CD Delivery Date (Waiting Period, APR) | XXXX | XXXX Required: An APR outside of allowable tolerance required a corrected Closing Disclosure and the corrected Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX triggered a new XXXX-day waiting period. The baseline APR for comparison purposes was set on XX/XX/XXXX with an APR of XXXX%. The APR increased more than XXXX. Therefore, a new waiting period was triggered on XX/XX/XXXX. This CD was not received at least XXXX business days prior to consummation. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2183704 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX: Tax Service. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2183707 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | ARM Index Missing | XXXX | Testing for TILA, XXXX, Federal and State threshold accuracy could not be completed through the compliance tool due to Index Rate missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) see SOFR information |
Response 1 (XX/XX/XXXX XX:XXAM) The documents provided are sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2183707 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - $100 Tolerance Threshold/Non-Rescindable | XXXX | New finding based on rebuttal documents provided. This loan failed the TILA finance charge test.(12 CFR §1026.38(o)(2)) The finance charge is $XXXX. The disclosed finance charge of $XXXX is not considered accurate because it is understated by more than $XXXX. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2183707 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Total of Payments (TOP) Non-Rescindable | XXXX | New finding based on rebuttal documents provided. This loan failed the TRID total of payments test. (12 CFR §1026.18(o)(1)) The total of payments is $XXXX. The disclosed total of payments of $XXXX is not considered accurate because it is understated by more than $XXXX and the provided reimbursement amount of $XXXX is not sufficient to cure the inaccuracy. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175287 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Late Fees Test | XXXX | This loan failed the late fees test. The loan has late fees that do not conform to the requirements for the lender's license type in the state where the property is located. The state regulation of XXXX allows for a maximum XXXX% late fee, the loan has a XXXX% late fee. The loan fails the late fees test by XXXX%. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2175287 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175287 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The CU score is XXXX. AVM provided supports the appraised value within 10%. (Resolved) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXAM) AVM provided supports the appraised value within 10%. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175289 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Late | XXXX | The Homeownership Counseling Disclosure (HOC) dated XX/XX/XXXX was not disclosed within XXXX days of the application date, XX/XX/XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a)(1) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2175289 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated on XX/XX/XXXX and consummation occurred on XX/XX/XXXX. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175289 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175289 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175290 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Compliance Finding - Other | XXXX | Testing for TILA Accuracy could not be completed through the XXXX tool due to XXXX missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) LTV at XXXX%; no XXXX certificate is in file Rebuttal 2 (XX/XX/XXXX XX:XXAM) The last comment on the finding states that the documentation is sufficient and that is it resolved. Please change the finding status to Resolved. (It still shows as XXXX) Last Comment: The documentation provided is sufficient to clear the finding. Based on the First Payment letter, IEAD and CD the XXXX is an upfront fee and not required on a monthly basis; accurate testing was able to be performed. (Resolved) |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. Based on the First Payment letter, IEAD and CD the XXXX is an upfront fee and not required on a monthly basis; accurate testing was able to be performed. (Resolved) Response 2 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. Based on the First Payment letter, IEAD and CD the XXXX is an upfront fee and not required on a monthly basis; accurate testing was able to be performed. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175290 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Late | XXXX | There is no evidence of a loan application date provided in the loan file. Unable to determine if the Homeownership Counseling Disclosure issued on XX/XX/XXXX was disclosed within XXXX business days of the application date. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2175290 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175290 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial LE/Delivery Date (from application) | XXXX | There is no evidence of a loan application date provided in the loan file. Unable to determine if the Initial Loan Estimate issued on XX/XX/XXXX was disclosed within XXXX business days of the application date. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175290 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | AUS (LP/DU) - Missing | XXXX | The LP/DU AUS is missing from the loan file. The loan file does not contain a copy of the AUS. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) AUS LP/DU attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175290 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. No value supporting documentation was present in the loan file. AVM provided supports the appraised value within 10%. (Resolved) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXAM) AVM provided supports the appraised value within 10%. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175260 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175260 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Debts - Not Verified | XXXX | The application lists significant debts that were not verified on the credit report and not independently verified. The loan application reflected a mortgage With XXXX with a monthly payment of $XXXX was secured by the property located at XXXX, a mortgage with NR/SMS/CAL with a monthly payment of $XXXX was secured by the property located at XXXX, and a mortgage with XXXX with a monthly payment of $XXXX was secured by the property located at XXXX. The three above referenced mortgages were listed on the credit bureau in file; however, the loan file did not contain mortgage statements or any other documentation confirming the listed payments included escrows. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) A credit supplement was pulled to verify the debts, but did not include the escrow information. Uploaded Credit Sup. |
Response 1 (XX/XX/XXXX XX:XXAM) Credit Supplement provided does not confirm escrows on the referenced loans. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX reserves, $XXXX residual income, XXXX% DTI, job stability XXXX years |
XXXX. XXXX% DTI. XXXX months of reserves. | 3 | 2 | 3 | 2 | |
| XXXX | 2175260 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. CU score is XXXX and there is no other valuation product in file. AVM provided supports the appraised value within 10%. (Resolved) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXAM) AVM provided supports the appraised value within 10%. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175271 | 1 of 8 | XXXX | XXXX | XXXX | XXXX | Compliance | ARM Index Rate Missing/Invalid | XXXX | Testing for TILA, Total of Payments, Federal and State threshold accuracy could not be completed through the compliance tool. The Index Rate provided in the loan file was not available within the XXXX-day look back period. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) The Note states the following:: • The index name: “The ‘Index’ is… the XXXX day Average SOFR index.” • The source: “Published by the XXXX.” • The methodology for determining the applicable index value: “Most recent index value available as of the date XXXX days before each Change Date (‘Current Index’).” • Fallback language should the Index no longer be available is stated in Section 4G of the Note: “If the Index is no longer available, it will be replaced…” Rebuttal 2 (XX/XX/XXXX XX:XXPM) The SOFR rate index on XX/XX/XXXX was XXXX per https://www.newyorkfed.org/markets/reference-rates/sofr-averages-and-index. See the attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The information provided is not sufficient to clear the finding. The issue is not the type of index used. We need to know the actual index rate the lender used that was within the XXXX-day lookback period in order to determine if TILA Finance Charge, APR, and Total of Payments were sufficiently disclosed. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175271 | 2 of 8 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Revised CD Delivery Date (No Waiting Period) | XXXX | This loan failed the revised Closing Disclosure delivery date test (no waiting period required) due to the following: Without evidence of receipt, it is assumed that the disclosure dated XX/XX/XXXX was mailed, and therefore not received by the consumer prior to the consummation date, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumer's E-consent is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175271 | 3 of 8 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Revised CD Delivery Date (No Waiting Period) | XXXX | This loan failed the revised Closing Disclosure delivery date test (no waiting period required) due to the following: Without evidence of receipt, it is assumed that the disclosure dated XX/XX/XXXX was mailed, and therefore not received by the consumer prior to the consummation date, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumer's E-consent is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175271 | 4 of 8 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (No Valid COC) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. The lender credit decreased on the CD issued on XX/XX/XXXX without a valid change of circumstance. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX monthsold, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175271 | 5 of 8 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - LE/Revised Delivery Date (after issue of CD) | XXXX | The loan failed the Revised Loan Estimate delivery date test. The Revised Loan Estimate issued on XX/XX/XXXX was issued after providing the Closing Disclosure issued on XX/XX/XXXX. Truth in XXXX (Regulation Z) 12 CFR 1026.19(e)(4)(ii). The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175271 | 6 of 8 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: Points - Loan Discount Fee, Underwriting Fee, Credit Report Fee, Flood Certification Fee. A cost to cure in the amount of $$XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 2 | ||||
| XXXX | 2175271 | 7 of 8 | XXXX | XXXX | XXXX | XXXX | Credit | MI - Missing Documentation | XXXX | The file contains no evidence that the proper amount of mortgage insurance was obtained. The subject LTV is XXXX%. LP Accept requires XXXX% standard mortgage insurance coverage. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) XXXX orders the appropriate secondary value product in these cases per email from XXXX/Digital Risk. Rebuttal 2 (XX/XX/XXXX XX:XXPM) Loan is a Preferred XXXX/XXXX Arm. XXXX-Agency Underwriting Guidelines uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) Comment does no address defect. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) Response 3 (XX/XX/XXXX XX:XXPM) Upon further review, the LTV/CLTV was XXXX%/XXXX%. Guidelines require the LTV/CLTV to be XXXX%/XXXX%. (XXXX) Response 4 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX (XX/XX/XXXX XX:XXPM) BPO Uploaded Buyer Comment 2 (XX/XX/XXXX XX:XXPM) Loan was manual uw. XXXX not applicable. Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX XXXX. residual income, $XXXX reserves, XXXX% DTI, 0x30xx76 mortgage history |
XXXX. XXXX months of reserves. XXXX% DTI. | 3 | 2 | 3 | 2 | |
| XXXX | 2175271 | 8 of 8 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. CU score is XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) XXXX orders the appropriate secondary value product in these cases per email from XXXX/Digital Risk. |
Response 1 (XX/XX/XXXX XX:XXPM) DVR returned a value XXXX% less than the appraised value. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Using the sales price, which is lower than the CDA, which is lower than the appraisal to determine qualifying LTV. Downgraded to EV2. (Resolved) |
XXXX (XX/XX/XXXX XX:XXPM) Uploaded Vendor Value Reconciliation |
3 | 2 | 3 | 2 | ||
| XXXX | 2183709 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183710 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183711 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183703 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183712 | 1 of 1 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fee was not accepted as valid: Desk Review (XX/XX/XXXX). A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 2 | 2 | ||||
| XXXX | 2175291 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Signature | XXXX | The Security Instrument was not fully executed by all required parties. The signature is missing for the non borrower on the PUD rider. | Upheld | Rebuttal 1 (XX/XX/XXXX XX:XXPM) The security instrument was recorded without the non-borrower signing the PUD. |
Response 1 (XX/XX/XXXX XX:XXPM) please provide a fully Executed PUD rider by the borrower and non-borrowing spouse with evidence of re-recording to cure the exception. (XXXX) |
3 | 3 | 3 | 3 | |||
| XXXX | 2175291 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Revised CD Delivery Date (No Waiting Period) | XXXX | This loan failed the revised Closing Disclosure delivery date test (no waiting period required) due to the following: Without evidence of receipt, it is assumed that the disclosure dated XX/XX/XXXX (#XXXX) was mailed, and therefore not received by the consumer prior to the consummation date, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumer's E-consent is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 3 | ||||
| XXXX | 2175291 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. XXXX Verification of Employment Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 3 | |||||
| XXXX | 2175291 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 3 | |||||
| XXXX | 2175291 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file does not contain a secondary valuation product to support the original appraised value. AVM provided supports the appraised value within 10%. (Resolved) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) AVM provided. |
Response 1 (XX/XX/XXXX XX:XXAM) AVM provided supports the appraised value within 10%. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2175292 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175292 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175292 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182154 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182154 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182154 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2159548 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Compliance Finding - Other | XXXX | Testing for TILA, XXXX, Federal and State threshold accuracy could not be completed through the compliance tool due to Index Rate missing from the loan file. | Upheld | Rebuttal 1 (XX/XX/XXXX XX:XXPM) What documentation do you require for this item? |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide the Index used within the XXXX-day look back period from consummation for testing. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The Index Rate provided was not available within the XXXX day look-back period from closing date. (XXXX) |
XXXX (XX/XX/XXXX XX:XXPM) please see sourced index XXXX (XX/XX/XXXX XX:XXPM) please see updated index source |
3 | 3 | 3 | 3 | ||
| XXXX | 2159548 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations | Resolved | XXXX | 3 | 2 | 3 | 3 | ||||
| XXXX | 2159548 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Flood cert attached. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159548 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX insurance attached. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159548 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | The mortgage statement for departure residence located at XXXX was not provided proving current payment due date and escrowed payment at origination. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Agreed. Not in hand. |
Response 1 (XX/XX/XXXX XX:XXAM) XXXX agrees with defect. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Client reviewed and elects to waive. (waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted Compensating factors: As agreed pay history life of loan, current LTV of XXXX%, XXXX% DTI, $XXXX verified reserves, $XXXX residual income, |
3 | 2 | 3 | 3 | ||
| XXXX | 2159548 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) 2nd AVM provided |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided supports the origination value within 10%. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159549 | 1 of 12 | XXXX | XXXX | XXXX | XXXX | Compliance | ARM Disclosure - Missing | XXXX | The file contains no evidence that the ARM Disclosure was provided to the borrower. Truth in XXXX (Regulation Z) 12 CFR 1026.19(b)(1) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See ARM Disclosure attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159549 | 2 of 12 | XXXX | XXXX | XXXX | XXXX | Compliance | Compliance Finding - Other | XXXX | Testing for TILA, XXXX, Federal and State threshold accuracy could not be completed through the compliance tool due to Index Rate missing from the loan file. | Upheld | Rebuttal 1 (XX/XX/XXXX XX:XXPM) What documentation do you require for this item? |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide the Index used within the XXXX-day lookbackperiod from consummation for testing. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The Index Rate provided was not available within the XXXX day look-back period from closing date. (XXXX) |
XXXX (XX/XX/XXXX XX:XXPM) please see sourced indexed Buyer Comment 2 (XX/XX/XXXX XX:XXPM) please see updated index source |
3 | 3 | 3 | 3 | ||
| XXXX | 2159549 | 3 of 12 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums is missing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 3 | 3 | |||||
| XXXX | 2159549 | 4 of 12 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Missing | XXXX | The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a) | Acknowledged | 2 | 2 | 3 | 3 | |||||
| XXXX | 2159549 | 5 of 12 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The Mortgage was executed by an entity, but the entity documents are missing. Unable to determine if signatures on mortgage are accurate. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Attached are Articles of Organization, Articles of Incorporation, Operating Agreement and Adoption of Operating Agreement. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159549 | 6 of 12 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation)- Rescindable | XXXX | Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 3 | ||||
| XXXX | 2159549 | 7 of 12 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Loan Estimate/Missing | XXXX | There is no evidence of a complete Loan Estimate provided in the loan file. As a result testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Loan Estimate attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159549 | 8 of 12 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Appraisal Missing | XXXX | Per the guidelines for loan amounts over XXXX million, a full second appraisal is required. The Closing Disclosure does reflect a second appraisal was obtained, however, missing from the loan file. | Waived | Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted Compensating Factors: XXXX qualifying credit score, XXXX% LTV, $XXXX verified reserves, $XXXX residual income |
Compensating Factors: XXXX qualifying credit score, XXXX% LTV, $XXXX verified reserves, $XXXX residual income | 3 | 2 | 3 | 3 | ||
| XXXX | 2159549 | 9 of 12 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Flood cert attached. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159549 | 10 of 12 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Hazard Insurance attached. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159549 | 11 of 12 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | The loan file is missing the most recent mortgage statements for the subject property, XXXX, and XXXX (Rental) proving current due date and escrows (taxes/insurance) at origination. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Agree. Neither in hand. |
Response 1 (XX/XX/XXXX XX:XXAM) XXXX agrees with defect. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Client reviewed and elects to waive. (waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted compensating factors: As agreed pay history life of loan, current LTV is XXXX%, XXXX qualifying credit score, XXXX% DTI, $XXXX residual income, $XXXX reserves |
3 | 2 | 3 | 3 | ||
| XXXX | 2159549 | 12 of 12 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) 2nd AVM provided |
Response 1 (XX/XX/XXXX XX:XXAM) The value was supported within 10%, however; the FSD score was >XXXX%. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation not received. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation provided is sufficient to clear the finding. (resolved) |
XXXX (XX/XX/XXXX XX:XXPM) BPO uploaded XXXX (XX/XX/XXXX XX:XXPM) BPO uploaded |
3 | 1 | 3 | 3 | ||
| XXXX | 2159553 | 1 of 10 | XXXX | XXXX | XXXX | XXXX | Compliance | Compliance Finding - Other | XXXX | Testing for TILA, XXXX, Federal and State threshold accuracy could not be completed through the compliance tool due to Index Rate missing from the loan file. | Upheld | Rebuttal 1 (XX/XX/XXXX XX:XXPM) What documentation do you require for this item? |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide the Index used within the XXXX-day look back period from consummation for testing. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The Index Rate provided was not available within the XXXX day look-back period from closing date. (XXXX) |
XXXX (XX/XX/XXXX XX:XXPM) please see sourced Indexed Buyer Comment 2 (XX/XX/XXXX XX:XXPM) please see sourced Indexed Buyer Comment 3 (XX/XX/XXXX XX:XXPM) please see updated index source XXXX (XX/XX/XXXX XX:XXPM) please see updated index source |
3 | 3 | 3 | 3 | ||
| XXXX | 2159553 | 2 of 10 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non-Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumers' E-consents are required. (12 CFR §1026.19(f)(1)(ii)). The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations. | Resolved | XXXX | 3 | 2 | 3 | 3 | ||||
| XXXX | 2159553 | 3 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | FEMA | XXXX | FEMA Declaration declared XX/XX/XXXX for XXXX Hurricane Milton [DR-XXXX-XXXX] with an incident period of XX/XX/XXXX-XX/XX/XXXX which is after the original appraisal date XX/XX/XXXX. Please provide Property Inspection to confirm no damage. | Resolved | Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
XXXX (XX/XX/XXXX XX:XXPM) pdi uploaded |
3 | 1 | 3 | 3 | |||
| XXXX | 2159553 | 4 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Flood cert attached. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159553 | 5 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Business Tax Returns | XXXX | Copies of signed federal business income tax returns (including all schedules) were not obtained or were not properly retained in the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) See attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159553 | 6 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Missing P&L | XXXX | Self-Employed Borrower. Missing most current Profit and Loss Statement as required by XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Attached. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159553 | 7 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Tax Return Documentation Incomplete | XXXX | Tax returns for the previous two (XXXX) years XXXX/XXXX were provided however the loan file is missing all W2s and K-1s. Unable to verify income. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Documentation uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2159553 | 8 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Tax Return Documentation Incomplete | XXXX | The loan application date is XX/XX/XXXX and the loan file includes XXXX/XXXX personal tax returns. The documentation indicates an extension for the XXXX tax returns was filed however documentation of the extension was not provided. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Agreed. Not in hand. |
Response 1 (XX/XX/XXXX XX:XXAM) XXXX extension required. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Client reviewed and elects to waive. (waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted Compensating factors: As agreed pay history life of loan, current LTV is XXXX%, XXXX% DTI, $XXXX residual income, $XXXX reserves, self-employed XXXX years |
3 | 2 | 3 | 3 | ||
| XXXX | 2159553 | 9 of 10 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOE Self-Employed/Missing | XXXX | The loan file is missing a Verification of Self-Employment for the borrower. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) No rebuttal being submitted due to reviewer&#XXXX;s opinion on our bank&#XXXX;s additional collateral loans. |
Response 1 (XX/XX/XXXX XX:XXPM) It appears the subject is one property with an XXXX% LTV. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Client reviewed and elects to waive. (waived) |
XXXX (XX/XX/XXXX XX:XXPM) Client reviewed and elects to waive. Noted Compensating factors: As agreed pay history life of loan, current LTV is XXXX%, XXXX% DTI, $XXXX residual income, $XXXX reserves |
3 | 2 | 3 | 3 | ||
| XXXX | 2159553 | 10 of 10 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) 2nd AVM provided |
Response 1 (XX/XX/XXXX XX:XXPM) AVM provided and did support the origination value within 10%. (Resolved) |
3 | 1 | 3 | 3 | |||
| XXXX | 2191891 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191891 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191891 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191890 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced Rider(s) / Legal Addendum(s) are missing: XXXX-XXXX Family Rider | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT with XXXX-XXXX rider Rebuttal 2 (XX/XX/XXXX XX:XXAM) XXXX-XXXX family rider with mortgage |
Response 1 (XX/XX/XXXX XX:XXPM) The Guaranty Agreement provided in rebuttal does not address defect. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2191890 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for the borrower and co-borrower to include criminal records search. XXXX report provided does not reflect a criminal record search for the borrower or co-borrower. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception email from XXXX 2 (07/XXXX/XXXX XXXX:17PM) XXXX ground check exception approved by ElXXXX (07/2XXXX/XXXX XXXX:XXXX1PM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Exception requested. Awaiting Investor exception. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Document received is not an Investor exception. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO score XXXX, $XXXX reserves, has owned primary residence for XXXX years with XXXX late payments on mortgage history | 3 | 2 | 3 | 2 | ||
| XXXX | 2191890 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The file only contained page XXXX of XXXX of the Guaranty Agreement. All pages required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Guaranty |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2191890 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199582 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced Rider(s) / Legal Addendum(s) are missing: XXXX-XXXX Family Rider | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT with Rider |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199582 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for borrower, co-borrower XXXX and co-borrower XXXX to include criminal records search. XXXX report provided does not reflect a criminal record search for any of the borrowers (XXXX). | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception request from XXXX Rebuttal 2 (XX/XX/XXXX XX:XXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Exception requested. Awaiting Investor exception. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO score XXXX, $XXXX reserves, LTV XXXX% | 3 | 2 | 3 | 2 | ||
| XXXX | 2199582 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. For refinance transactions guidelines require an executed lease with no less than XXXX months remaining at time of closing. The loan closed XX/XX/XXXX. The lease for the front and rear units are effective XX/XX/XXXX-XXXX/XXXX (day of month in XXXX not reflected) and further states if notice of termination is not provided then the lease shall continue for successive XXXX month and may be terminated. No proof in the file that the leases renewed; therefore, less than XXXX months remaining. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) LOX from Borrower |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199582 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. The file contained an invoice dated XX/XX/XXXX for the premium due for the subject property from XX/XX/XXXX-XX/XX/XXXX. The subject loan closed XX/XX/XXXX. The file is missing the existing full policy reflecting all coverages, perils, rent loss, etc as required by guideines for review and the complete renewal policy that meets guidelines for review. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Current HOI Policy Rebuttal 2 (XX/XX/XXXX XX:XXPM) policy Rebuttal 3 (XX/XX/XXXX XX:XXAM) Updated HOI policy |
Response 1 (XX/XX/XXXX XX:XXAM) All Perils is not reflected. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Still missing the new policy with effective dates XX/XX/XXXX through XX/XX/XXXX and reflecting all perils coverage. (XXXX). Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199582 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199583 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced rider is missing: XXXX-XXXX Family Rider. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT with Rider |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199583 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - $35 Tolerance Threshold/Rescindable | XXXX | The loan failed the Rescission Finance Charge tolerance test. Per the special foreclosure rule under Regulation Z, for loans subject to the right of rescission the Finance Charge is considered inaccurate if the disclosed Finance Charge is understated by more than $XXXX. The final (last revised) CD issued on XX/XX/XXXX has a disclosed Finance Charge of $XXXX, which is less than the system calculated Finance Charge of $XXXX. The Finance Charge on the final CD is understated by $XXXX, which is more than the allowable tolerance of $XXXX. The following fees were included in the Finance Charge calculation: Loan Discount Points $XXXX, Title - Closing Protection Letter $XXXX, Flood Certification $XXXX, Prepaid Interest $XXXX, Processing $XXXX, Technology Bundle $XXXX, Title - Overnight $XXXX and Underwriting $XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery. Additionally, rescission needs to be re-opened. Truth in XXXX (Regulation Z) 12 CFR 1026.23(h)(2)(i) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) PCCD LOX, XXXX of delivery-refund. No recission required due to loan being an investment property Rebuttal 2 (XX/XX/XXXX XX:XXPM) Refund check sent to Borrower $XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The PCCD LOE, PCCD, Refund Check and XXXX have been provided; however, the Refund Check in the amount of $XXXX is marked XXXX. Please provide a copy of the Refund Check for review. A cost to cure in the amount of $XXXX remains. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2199583 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for borrower, co-borrower XXXX and co-borrower XXXX to include criminal records search. XXXX report provided does not reflect a criminal record search for any of the borrowers (XXXX). | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception request from XXXX Rebuttal 2 (XX/XX/XXXX XX:XXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Exception requested. Awaiting Investor exception. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO score XXXX, $XXXX reserves, LTV XXXX% | 3 | 2 | 3 | 2 | ||
| XXXX | 2199583 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. For refinance transactions guidelines require an executed lease with no less than XXXX months remaining at time of closing. The loan closed XX/XX/XXXX. The lease for XXXX and the lease for XXXX are effective XX/XX/XXXX-XXXX/XXXX (day of month in XXXX not reflected) and further states if notice of termination is not provided then the lease shall continue for successive XXXX month and may be terminated. No proof in the file that the leases renewed; therefore, less than XXXX months remaining. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2199583 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191895 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191895 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191895 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX . | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191892 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191892 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for the borrower to include criminal records search. XXXX report provided does not reflect a criminal record search for the borrower. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception request from XXXX Rebuttal 2 (XX/XX/XXXX XX:XXPM) Exception Uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Exception requested. Awaiting Investor exception. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO score XXXX, $XXXX reserves, experienced investor | 3 | 2 | 3 | 2 | ||
| XXXX | 2191892 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2194259 | 1 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2194259 | 2 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file contained a Cert of Good Standing for the business appearing on the Note dated XX/XX/XXXX; however, XXXX was not dated to validate it met the guidelines requiring the Cert of Good Standing be dated with XXXX days of the Note date. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cert of XXXX standing |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2194259 | 3 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a Secretary of State Search for the business reflected on the Note as required per the guidelnes. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Secretary of State Search for the business |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2194259 | 4 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain the Operating Statement for the borrower's business appearing on the Note as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Borrower is sole member on EIN, why do we need the operating agreement |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2194259 | 5 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The subject loan is a cash out refinance of an investment property with a credit XXXX and a LTV of XXXX%. The loan file did not contain an executed ACH for the authorization of the automatic mortgage payments as required per the guidelines for credit scores below XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please provide guideline with ACH requirement Rebuttal 2 (XX/XX/XXXX XX:XXPM) XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Page XXXX of DSCR Legend guide at the bottom. Bullet Point XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2194259 | 6 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines. The loan file did not contain a criminal records search for the borrower as required per the guidelines for investment properties. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Email exception from XXXX 2 (07/XXXX/XXXX XXXX:35AM) XXXX ground check exception approved by XXXX (07/2XXXX/XXXX XXXX:XXXX7PM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Exception email not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Document received is not an Investor exception. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: $XXXX reserves, DSCR XXXX, LTV XXXX% | 3 | 2 | 3 | 2 | ||
| XXXX | 2194259 | 7 of 7 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191888 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191888 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines for the borrower to include criminal records search. XXXX report provided does not reflect a criminal record search for the borrower. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception request from XXXX 2 (XX/XX/XXXX XX:XXAM) XXXX ground check exception approved by XXXX (XX/XX/XXXX XXXX:XXXXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXAM) Exception requested. Awaiting Investor exception. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Document received is not an Investor exception. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO score XXXX, $XXXX reserves, LTV XXXX% | 3 | 2 | 3 | 2 | ||
| XXXX | 2191888 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2191894 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX, however the mortgage lists XXXX. A deed transferring ownership interest from XXXX to XXXX is required to confirm ownership interest in the new mortgage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) QC Deed Rebuttal 2 (XX/XX/XXXX XX:XXAM) QC |
Response 1 (XX/XX/XXXX XX:XXAM) The quit claim deed provided is not for the subject property. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2191894 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191894 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191889 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX, however the mortgage lists XXXX. A deed transferring ownership interest from XXXX to XXXX is required to confirm ownership interest in the new mortgage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) QC Deed |
Response 1 (XX/XX/XXXX XX:XXAM) The documents provided are sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2191889 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191889 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2193296 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. XXXX. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2193296 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2193296 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2193297 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Third Party Processing Fee and Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2193297 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2193297 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189407 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189407 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189407 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194158 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Regulations | XXXX | This loan failed the bona fide discount points test due to the following finding: (XXXX §XXXX-1.1A (c)(1)(b)). The loan is a first lien mortgage and has a principal amount that is greater than or equal to $XXXX and charges discount points that are not paid for the purpose of reducing, and do not in fact result in a bona fide reduction of the interest rate. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Please find attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The Undiscounted Rate provided allows for the exclusion of bona fide discount points. Upon recalculation, the loan is compliant and passes the Points and Fees test. (Resolved) |
2 | 1 | 2 | 2 | |||
| XXXX | 2194158 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Regulations | XXXX | This loan failed the lender fees test due to one of the following findings: (XXXX §XXXX-XXXXA(e); XXXX XXXX-10(a), (g)). The loan is a first XXXX closed end mortgage with a principal amount that is greater than or equal to $XXXX and the sum of all lender fees exceeds the greater of XXXX% of the principal amount or $XXXX. The following fees were included in this test: Administration fee, $XXXX and Processing fee, $XXXX. | Acknowledged | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX fee and processing fee are part of the loan origination charge, which should be exclude from the test. Please refer to the attached. |
Response 1 (XX/XX/XXXX XX:XXPM) The information provided is not sufficient to clear the finding. The Loan Origination Fee in the amount of $XXXX, XXXX was excluded from testing. The Application Fee and Processing Fee are paid to the Lender and included in testing. The finding is an EV2 and can be Acknowledged. (Acknowledged)? |
2 | 2 | 2 | 2 | |||
| XXXX | 2194158 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2194158 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2194156 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194156 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194156 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194157 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194157 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194157 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2133443 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2133443 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The Assignment of Leases and XXXX disclosed the individuals as Assignors on Page XXXX, the Entity should be disclosed. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Authorized User. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2133443 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The file is missing the required final HUD1 stating the prior mortgage being paid at closing. Cash out funds stated in review taken from lender approval. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ATTACHED |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2133443 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | A lender exception was provided to allow for an LTV of XXXX% when the guidelines state the max LTV for a short term rental is XXXX%. Client to approve downgrading finding based on compensating factors. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
Compensating factors: XXXX credit score and 0x30 on all mortgage history. | 3 | 1 | 3 | 2 | ||
| XXXX | 2133443 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2129532 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Inaccurate | XXXX | The Note in inaccurate. The note indicates the payment consist of principal and interest. The loan amount of $XXXX, for XXXX Years at an XXXX% interest the principle and interest payment would be $XXXX The payment listed on the note $XXXX, it appears to be an interest only payment. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) This loan is an interest only loan program. Please advise what is needed? Rebuttal 2 (XX/XX/XXXX XX:XXPM) NOTE |
Response 1 (XX/XX/XXXX XX:XXPM) The Note provided is a standard Fannie Mae/XXXX Note that does not disclose the payment of $XXXX is interest only. A new Interest Only Note executed by the borrower is required for review. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2129532 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Debts - Not Verified | XXXX | The guidelines indicate that all public records and tax liens must be paid regardless of age. The Property Report in file for the subject property includes voluntary, involuntary liens, public record information including judgments and liens. Judgments listed that are not readily identifiable as not belonging to the Borrower were not addressed (Property Report Judgment Item(s) #XXXX, XXXX, XXXX, XXXX, XXXX, XXXX). The loan file is missing documentation to support the judgments have been satisfied or do not belong to the Borrower. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) ATTACHED |
Response 1 (XX/XX/XXXX XX:XXPM) Title Commitment provided reflects no liens or judgements. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2129532 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2126954 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The borrower is an entity. The 1st page of the Assignment of Rents lists the borrower as an Individual; the entity name should be listed. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Page XXXX of the assignment or leases and rents rider will always list the individual borrower name. Please refer to page XXXX of XXXX to confirm the assignor is the LLC named. Rebuttal 2 (XX/XX/XXXX XX:XXPM) ALR rider corrected and recorded |
Response 1 (XX/XX/XXXX XX:XXPM) The information provided is not sufficient to clear the finding. The Mortgage and all riders including the Assignment of Rent rider must accurately reflect the borrower name. The borrower is an Entity; pg. XXXX of the rider should reflect the name of the rider. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2126954 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2126954 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2126954 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2172746 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2172746 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | Missing required business documentation per guidelines. The loan file is missing the following documentation for the borrowing entity known as XXXX: Operating Agreement, Articles of Organization, EIN and Certificate of Good Standing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Docs were redrawn to correct LLC name but the wrong set was uploaded. See attached for correct closing doc set. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2172746 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2156816 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2156816 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2156816 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189624 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189624 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Interested Party Contribution - Exceeds | XXXX | The Interested Party Contributions exceed allowable guidelines and cause the recalculated LTV to increase above program maximum allowed. Maximum seller contributions allowed per Lender's guidelines were $XXXX. Despite this, the subject closed with seller contributions of $XXXX. Causing the LTV to exceed to XXXX%. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Total closing costs was XXXX that included $XXXX appraisal fees POC. |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. (Void) |
1 | 1 | 1 | 1 | |||
| XXXX | 2189624 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2155555 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The printed name of the XXXX is missing from the Notarial Certificate on the notary sign page. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX stamp on pg. XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Finding voided. (Void) |
1 | 1 | 3 | 1 | |||
| XXXX | 2155555 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The borrower(s)' name(s) on the Security Instrument Assignment or XXXX page XXXX, is inconsistent with the Note. The Assignment of Rents Rider does list the name of the borrower, an entity, but rather lists the name of the entity member without respective title. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2155555 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2155555 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2168023 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Closing Information/Closing Date | XXXX | The CD issued on XX/XX/XXXX does not reflect the correct Closing Date when compared to the notary signature date on the Security Instrument. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(3)(ii). | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2168023 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Credit report fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) PCCD provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2168023 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2168023 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2156867 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Corrected DOT |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2156867 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2156867 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2154913 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) AOL correction Rebuttal 2 (XX/XX/XXXX XX:XXPM) May I please have the below escalated/cleared? The scrivener’s affidavit means an AOL is not needed. |
Response 1 (XX/XX/XXXX XX:XXPM) The scrivener's affidavit has been provided however the corrected executed rider is also required. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2154913 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Repairs | XXXX | The appraisal indicated repairs and improvements were required to support value, and no final inspection or evidence of completion was found in the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Attached |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2154913 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183892 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183892 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183892 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189305 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189305 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A change of circumstance was not provided in the loan file but the reason provided was not valid. Therefore, the increase to the following fees was not accepted: Credit Report. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Check |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2189305 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189305 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2156864 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2156864 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Missing required 1004 D | XXXX | The subject appraisal was made subject to completion. The loan file is missing the 1004D. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) XXXXD provided |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient.(Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2156864 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187240 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2187240 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2187240 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2187240 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained XXXX appraisals which supported value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2179867 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2179867 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | XXXX in file as the subject loan does not meet Program Parameters for Minimum Loan Amount. The Lender's guidelines state minimum loan amount is $XXXX; however, the subject loan closed with a loan amount of $XXXX. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval on 3pk obtained via email |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating Factors: XXXX higher than XXXX and at least XXXX points higher than guideline minimum. Monthly reserves verified and at least XXXX months more than guideline minimum. Qualifying DSCR higher than 1.1x, and at least 0.1x higher than guideline minimum. | 3 | 2 | 3 | 2 | ||
| XXXX | 2179867 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) borr updated coverage |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2179867 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2173171 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prohibited Fees | XXXX | The loan failed the XXXX prohibited lender fees test. This test includes the following fees: Collateral desktop analysis. The loan fails the prohibited fees test by $XXXX. The loan charged more than one appraisal fee. (XXXX Fin. Code §XXXX) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2173171 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | Sufficient reserves to meet underwriting requirements were not verified in the file. Six months of PITIA reserves were required, equal to $XXXX ($XXXX x XXXX = $XXXX). The total documented assets were $XXXX minus POCs, EMD and cash to close totaling $XXXX which resulted in remaining assets of $XXXX for reserves. As a result, there was a $XXXX shortage of verified funds for reserves. | Waived | Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX (XX/XX/XXXX XX:XXAM) Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX residual income, self-employed XXXX years, |
XXXX qualifying credit score, $XXXX residual income, self-employed XXXX years | 3 | 2 | 3 | 2 | ||
| XXXX | 2173171 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2154928 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The PUD name XXXX on the Rider, does not match the PUD name on the legal description, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) XXXX email attached Rebuttal 2 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is not sufficient to cure the finding. The PUD is different from the HOA. The PUD name refers to the legal name of the development or subdivision as recorded in official records like plat maps and zoning records. The HOA manages the PUD and other community amenities. Many times they are named differently. Per Fannie Mae’s PUD rider form explicitly asks for the "Name of Planned Unit Development" to ensure the property is correctly identified in the context of its zoning and legal structure, not just the HOA’s name. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2154928 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2154928 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2165445 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) See recorded corrected DOT |
Response 1 (XX/XX/XXXX XX:XXPM) The documents provided are sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2165445 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2165445 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2165445 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2156861 | 1 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2156861 | 2 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | HOC - Missing | XXXX | The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2156861 | 3 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | Additional Finding: XX/XX/XXXX. The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The XXXX did not disclose the date the Notarization took place; the date is missing for when the borrower appeared before the notary. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2156861 | 4 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The XXXX did not disclose the date the borrower appeared before them. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2156861 | 5 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions/increases: Recording Fee. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2156861 | 6 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Revised CD Delivery Date (No Waiting Period) | XXXX | This loan failed the revised Closing Disclosure delivery date test (no waiting period required) due to the following: The Closing Disclosure was not received by the borrower prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated on XX/XX/XXXX, consummation date was reflected as, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) corrected PCCD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2156861 | 7 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial LE/Delivery Date (from application) | XXXX | The loan failed the Initial Loan Estimate delivery date test (from application). The Initial LE issued on XX/XX/XXXX was not disclosed within XXXX days of the application date, XX/XX/XXXX. Truth in XXXX (Regulation Z) 12 CFR 1026.19(e)(1)(iii)(A) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ILE Rebuttal 2 (XX/XX/XXXX XX:XXPM) sorry here is the ILE |
Response 1 (XX/XX/XXXX XX:XXPM) The XXXX provided does not address the defect. The referenced XXXX was not provided; please provide the ILE for review. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2156861 | 8 of 14 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions/increases: Document Preparation Fee $XXXX, Origination Compensation $XXXX, Underwriting Fee $XXXX, XXXX, Closing Protection Letter Fee $XXXX, Credit Report $XXXX, Title - Recording Fee $XXXX, Title - Lender's Title Insurance $XXXX, Title - Lender's Endorsement Fee $XXXX, Title - Escrow Fee $XXXX, and Flood Certificate fee $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2156861 | 9 of 14 | XXXX | XXXX | XXXX | XXXX | Credit | Contract - Missing | XXXX | The file contained no evidence of a properly executed sales contract. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) purchase agreement |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2156861 | 10 of 14 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other | XXXX | The loan file is missing XXXX months personal or business bank statements as required per guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) bank stmts |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 2 | |||
| XXXX | 2156861 | 11 of 14 | XXXX | XXXX | XXXX | XXXX | Credit | Initial Application - Missing | XXXX | The Initial application is missing as required by guides. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 2 | |||
| XXXX | 2156861 | 12 of 14 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The Business narrative form (or equivalent) is not located in file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) bus narr |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2156861 | 13 of 14 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOR | XXXX | The loan file is missing verification of XXXX months rental payments. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) VOR Rebuttal 2 (XX/XX/XXXX XX:XXPM) VOR |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2156861 | 14 of 14 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2163883 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Signature date of co-borrower on signature page and XXXX are missing. | Acknowledged | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Co-borrower date missing. |
Response 1 (XX/XX/XXXX XX:XXAM) Recent conversations with XXXX have resulted in if a date is missing for the borrower/co-borrower but the Mortgage has been notarized with a date it will be an EV2 grade. (Acknowledged) |
3 | 2 | 3 | 2 | |||
| XXXX | 2163883 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2163883 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2169592 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2169592 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2169592 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file does not contain a secondary valuation product. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CDA provided Rebuttal 2 (XX/XX/XXXX XX:XXAM) Field review supporting value provided |
Response 1 (XX/XX/XXXX XX:XXPM) CDA does not support value within 10%. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Field Review supports. Downgraded to EV2. (Resolved) |
3 | 2 | 3 | 2 | |||
| XXXX | 2183875 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183875 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183875 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2163466 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2163466 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Other | XXXX | Lender exception for overdraft/NSFs exceed XXXX allowed of XXXX. Client to approve downgrading finding based on compensating factors. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) exception not required since the account with NSFs was not used for income Rebuttal 2 (XX/XX/XXXX XX:XXAM) We used XXXX accts #XXXX and #XXXX) for income, no NSF. Can you revisit or provide details. |
Response 1 (XX/XX/XXXX XX:XXPM) NSF's did occur in the account used for income. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) DR agrees. Bank account with NSFs was not used for income calculation. Finding voided. (Void) |
1 | 1 | 1 | 1 | |||
| XXXX | 2163466 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | The loan closed XX/XX/XXXX and the credit report is dated XX/XX/XXXX. Guidelines require a gap credit report or Undisclosed Debt Monitoring report not more than XXXX days prior to the note date or any time after, and is missing from the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) udm |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 1 | 1 | |||
| XXXX | 2163466 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | Subject transaction closed on XX/XX/XXXX. The hazard insurance for the property located at XXXX expired on XX/XX/XXXX. According to the mortgage statement with XXXX, the loan is not escrowed. The file is missing the current hazard policy. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) EOI |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 1 | 1 | |||
| XXXX | 2163466 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192479 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192479 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Earnings Continuity | XXXX | Lender exception in file as the business bank statements being used for income calculation have XXXX non-sufficient funds or insufficient funds which could be an indicator a cash flow issue. Client to approve downgrade findings based on compensating factors. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception was cancelled due to: borrower has two businesses and we are using the other (partnership) for income to qualify. Statements for this business show no OD/NSFs. Rebuttal 2 (XX/XX/XXXX XX:XXAM) XXXX docs and BK statements Rebuttal 3 (XX/XX/XXXX XX:XXPM) The exception was cancelled because a different business bank statements were used for qualifying at origination and no NSF were reflected. |
Response 1 (XX/XX/XXXX XX:XXAM) Please provide all bank statements, entity docs, and business narrative for the XXXX. (Upheld) Response 2 (XX/XX/XXXX XX:XXAM) Same organization documentation provided in rebuttal. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) Agree. The exception in the loan file was invalid and did not apply to income documentation used at origination. Finding voided. (Void). |
Compensating Factors: Housing History 0x30 x XXXX mons, Same employer XXXX+ years | 1 | 1 | 1 | 1 | ||
| XXXX | 2192479 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189670 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189670 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189670 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2176948 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2176948 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2176948 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2169612 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2169612 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Bank Statements | XXXX | The required XXXX months business bank statements from XXXX XXXX are missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) stmts |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received. (Resolved) |
4 | 1 | 3 | 1 | |||
| XXXX | 2169612 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Title Commitment - Missing/Incomplete | XXXX | The title commitment is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) TPOL |
Response 1 (XX/XX/XXXX XX:XXAM) Document received. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2169612 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2180038 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (Revised Disclosure Late) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the decrease to lender credits was not accepted as valid. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD for lock extension Rebuttal 2 (XX/XX/XXXX XX:XXPM) lender cure docs, Check in mail today. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The COC provided states the Lender Credit decreased on XX/XX/XXXX and was not disclosed until the CD issue don XX/XX/XXXX; this is not within XXXX days of knowledge. A cost to cure in the amount of $XXXX, XXXX remains. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. A reimbursement to the borrower in the amount of $XXXX was issued to the borrower; however. a total cost to cure in the of $XXXX. XXXX was required. A cost to cure in the amount of $XXXX remains. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2180038 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2180038 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2169641 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2169641 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a))Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2169641 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | Not all required credit reports are within the file. The most recent credit report for the borrower is dated XX/XX/XXXX and the loan closed on XX/XX/XXXX. Guidelines require a gap credit report or undisclosed debt monitoring report no more than XXXX days prior to the closing date which is missing from the file. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm Rebuttal 2 (XX/XX/XXXX XX:XXAM) udm Rebuttal 3 (XX/XX/XXXX XX:XXAM) You have this already, see uploads page XXXX-XXXX of XXXX pages. PLEASE CHECK FOR LOE BEFORE REJECTING THESE. |
Response 1 (XX/XX/XXXX XX:XXPM) UDM provided does not belong to the borrower. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Inquiries after the credit report and before closing not explained. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2169641 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2165644 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD & econsent Rebuttal 2 (XX/XX/XXXX XX:XXPM) hardship letter to waive wait period Rebuttal 3 (XX/XX/XXXX XX:XXPM) exception approved on hardship letter |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The CD issued on XX/XX/XXXX and received on XX/XX/XXXX was in the original loan file and is not acceptable. The consummation date is XX/XX/XXXX, the CD issued and received on XX/XX/XXXX is not XXXX days prior to closing as required. Please provide a CD received by the borrower at least XXXX days prior to consummation. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The Closing Disclosure was not issued at least three business days prior to consummation as required under TRID. The reason provided (seller unwilling to extend closing, potential loss of escrow funds, and travel expenses) does not meet the standard of a bona fide personal financial emergency. Financial inconvenience, contractual deadlines, or potential monetary loss related to the transaction do not qualify for a waiver of the mandatory waiting period. As a result, the three-business-day waiting period cannot be waived. (XXXX) Response 3 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2165644 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Bank Statements | XXXX | The bank and/or asset statements are incomplete. The loan is a XXXX month bank statement loan, the borrower submitted XXXX months of statements from XXXX, before moving his business account to XXXX. The following pages are missing from the loan file for the XXXX account statements: XX/XX/XXXX - pages XXXX-XXXX, XX/XX/XXXX - page XXXX, XX/XX/XXXX - page XXXX, XX/XX/XXXX - page XXXX, XX/XX/XXXX - page XXXX, XX/XX/XXXX - page XXXX, XX/XX/XXXX - pages XXXX & XXXX, XX/XX/XXXX - pages XXXX & XXXX, and XX/XX/XXXX - page XXXX. | Void | Response 1 (XX/XX/XXXX XX:XXPM) The finding has been voided. (Void) |
1 | 1 | 3 | 1 | ||||
| XXXX | 2165644 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179898 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2179898 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Transfer Taxes, CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required, of which $XXXX was cured and $XXXX is still needed. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cure sent USPS, pccd, lox |
Response 1 (XX/XX/XXXX XX:XXPM) The documents provided are sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2179898 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOR | XXXX | Verification of XXXX months rental payments is required. There is a copy of the borrowers lease and current proof of payment for XXXX months, however per the guidelines (page XXXX of XXXX) a copy of the current lease by itself is not acceptable. Provide VOR for XXXX months or provide proof of payments from the borrowers bank statements for XXXX months. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) VOR |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2179898 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2180043 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2180043 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Other | XXXX | Guidelines state that asset accounts shared with non-borrowers require an access letter for the XXXX bank and the XXXX asset accounts. For the XXXX and XXXX, and the XXXX XXXX. Additional conditions may apply. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) That is not the correct interpretation of the guideline. Please re-review guidelines as we only require an access letter with a certain investor, not XXXX. Rebuttal 2 (XX/XX/XXXX XX:XXAM) The only requirement is an IEC, internal exception code noted in the guidelines, which was added on the UW Summary. |
Response 1 (XX/XX/XXXX XX:XXPM) Guide indicates an internal exception is required to waive the access letter. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) DR agrees. Finding has been voided. (Void) |
1 | 1 | 1 | 1 | |||
| XXXX | 2180043 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Condo - Documentation | XXXX | The subject property is a condominium; XXXX state that the Fannie Mae Condo Project Review must be completed and uploaded to the loan file it needs to reflect the condominium project status as approved, if not provide additional documentation required by Fannie Mae to become an approved condo project. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CPM |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 1 | 1 | |||
| XXXX | 2180043 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189330 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189330 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | The guidelines indicate the borrower’s primary residence must be current at the time of application and the month prior to the note date. The loan closed XX/XX/XXXX and the loan file is missing evidence the XXXX/XXXX payment was made on the borrower's primary residence. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) primary mortgage statement showing XXXX/XXXX payment made. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189330 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189674 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189674 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189674 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182240 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182240 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | he Note was dated XX/XX/XXXX. The lender guidelines and underwriting conditional approval required a gap credit or undisclosed debt monitoring report no more than XXXX days prior to the loan closing or any time after closing. The undisclosed debt monitoring report was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) LOE and supporting docs already in file |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182240 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | An accountant letter was provided to support borrower's ownership percentage of the self-employed business and no negative impact to self employed business when using business funds for the transaction. The investor guidelines required accountant license to be validated per CPA/EA/CTEC/Tax Attorney/PTIN. Required documentation to verify accountant licenses not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ver |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182240 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2169651 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2169651 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2169651 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177314 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (No Valid COC) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. The lender credit decreased on the CD issued on XX/XX/XXXX without a valid change of circumstance. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CD for lock extension Rebuttal 2 (XX/XX/XXXX XX:XXPM) see previous XXXX/XXXX CD. The lender credit decreased on XXXX/XXXX and did not change after that date. |
Response 1 (XX/XX/XXXX XX:XXPM) The COC is dated XXXX/XXXX which is more than XXXX days from re-disclosure of reduced credits on XXXX/XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2177314 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Document Preparation Fee, CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cure docs |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2177314 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Bank Statements | XXXX | The loan file is missing XXXX of the required XXXX month, as reflected per guidelines, without an exception from the lender. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX mos. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 1 | |||
| XXXX | 2177314 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179874 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179874 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX rate spread home loan test. (XXXX GS §XXXX-XXXXF(a)(XXXX)) The loan is a rate spread home loan, as defined in the legislation The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179874 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | Per Lender's guides, the borrower is required to verify XXXX months reserves. The borrower was required to verify $XXXX CTC and $XXXX XXXX months reserves, which equals $XXXX. The borrower verified $XXXX in total assets. Therefore, the borrower is short - $XXXX in reserves. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) See updated statement, balance on XXXX/XXXX was XXXX. See page XXXX. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2179874 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179876 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2179876 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: Loan Discount Points Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) rate change on XXXX/XXXX CD Rebuttal 2 (XX/XX/XXXX XX:XXPM) See the previous CD issued XX/XX/XXXX to show that the points increased on the XXXX/XXXX CD. Also note the comment section on the XXXX/XXXX COC form that indicates the change in interest rate. Rebuttal 3 (XX/XX/XXXX XX:XXPM) XXXX/XXXX CD Rebuttal 4 (XX/XX/XXXX XX:XXAM) Docs uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) The increase in points occurred on XXXX/XXXX however the COC is dated XXXX/XXXX, which is more than XXXX days for re-disclosure. Additionally reasoning on the COC form states Other which is not a clear reason. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The Rate Lock provided in the original loan file indicate a change in rate and Points- Loan discount occurred on XX/XX/XXXX. The increase was not disclosed until the CD issued on XX/XX/XXXX. The CD issued on XX/XX/XXXX has been provided; please provide the referenced CD issued on XX/XX/XXXX for accurate testing. A cost to cure in the amount of $XXXX remain. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2179876 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2179876 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187264 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Missing (All) | XXXX | There is no evidence of a HUD-XXXX Settlement Statement provided in the loan file. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8(a) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187264 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing HUD | XXXX | The loan file is Missing the final HUD as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) HUD provided |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187264 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2175558 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175558 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Title Search Fee $XXXX, CPL Fee $XXXX, XXXX Fee $XXXX, Lender's Title Insurance Policy $XXXX, Settlement Fee $XXXX, Endorsement Fee $XXXX, and XXXX Fee $XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cure |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2175558 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | Compensating Factors: | 1 | 1 | 3 | 2 | ||||
| XXXX | 2175558 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2199287 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Recording Fees. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) already cured at closing |
Response 1 (XX/XX/XXXX XX:XXPM) Finding voided. (Void) |
XXXX | 1 | 1 | 1 | 1 | ||
| XXXX | 2199287 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199287 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189628 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189628 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189628 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192475 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192475 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192475 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189625 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189625 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Missing | XXXX | The flood certificate is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Cert |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189625 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189626 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2189626 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189626 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189627 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189627 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189627 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194178 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194178 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194178 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189306 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189306 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Payee Not Listed | XXXX | The loan contains the following fee where 'compensation to' does not reflect a payee on the revised PCCD issued on XX/XX/XXXX: Appraisal. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189306 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed debt monitoring report no more than XXXX days prior to the loan closing or any time after closing. The undisclosed debt monitoring report was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189306 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2182041 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182041 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182041 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182234 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182234 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182234 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2169638 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2169638 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2169638 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182218 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182218 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Final Application - Inaccurate | XXXX | The Final XXXX does not reflect the current residence for Borrower 1 (XXXX). It should be noted that the credit report reflects the Borrower's current address as XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182218 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Final Application - Inaccurate | XXXX | The Final XXXX does not reflect the current residence for Borrower 2 (XXXX). It should be noted that the credit report reflects the Borrower's current address as XXXX | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182218 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Mortgage History - Missing/Incomplete | XXXX | The guidelines indicate a XXXX month VOM; current up to the month prior to closing is required. The loan file is missing a XXXX month VOM for the primary residence of Borrower 1 (XXXX), or evidence the primary residence is owned free & Clear. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) VOM |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182218 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2175243 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175243 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice to Borrower in Special Flood Hazard Area Disclosure was not received XXXX days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2175243 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) ICD was XXXX/XXXX. econsent. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2175243 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175243 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175226 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175226 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175226 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194177 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2194177 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Title Commitment - Incorrect | XXXX | The proposed title insurance is incorrect. In addition, the proposed insured name is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Title |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
4 | 1 | 4 | 1 | |||
| XXXX | 2194177 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2175560 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175560 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175560 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175227 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: XXXX XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cure docs |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2175227 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The borrower is currently living rent free at XXXX, XXXX, CA XXXX. Guidelines require a signed and dated letter from the owner or individual obligated on the note/lease agreement stating the borrower is living rent-free and what the relationship is to the borrower. Review of property records required to verify that the borrower is not obligated on the note if applicable. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) lox |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175227 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | The credit report is dated XX/XX/XXXX. Guidelines require a gap credit or Undisclosed Debt Monitoring report no more than XXXX days prior to the loan closing or anytime after and is missing from the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM, LOX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175227 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Inquiries | XXXX | The credit report dated XX/XX/XXXX reflects a recent inquiry within XXXX days with XXXX on XX/XX/XXXX that was not addressed as required by the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) LOX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2175227 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175577 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175577 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175577 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189307 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance Required | XXXX | XXXX Required. The Flood Notice in the loan file was signed on XX/XX/XXXX. The Flood Notice should have been received at least XXXX days prior to closing. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2189307 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189307 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2179878 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179878 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOE/Inaccurate | XXXX | The verification of employer for the co-borrower reflects the incorrect employer name. Should reflect XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) corrected VVOE |
Response 1 (XX/XX/XXXX XX:XXAM) XXXX acquired XXXX. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2179878 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2177318 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177318 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177318 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183877 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183877 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183877 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183876 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183876 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183876 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175576 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175576 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175576 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182223 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182223 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182223 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175234 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175234 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175234 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2177322 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2177322 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | An accountant letter was provided to support borrower's ownership percentage of the self-employed businesses, XXXX and XXXX. Additionally, XXXX assets in the name of XXXX were utilized in the transaction. The accountant letter was used to support that use of business assets would not negatively impact the business. The investor guidelines required accountant license to be validated per CPA/EA/CTEC/Tax Attorney/PTIN. Required documentation was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) PC |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2177322 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182021 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182021 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Contract - Concessions | XXXX | The contract concessions of $XXXX exceeds the XXXX allowed of XXXX% or $XXXX. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) I&#XXXX;m confused, XXXX% of $XXXX = $XXXX We should be well under the limit, can this condition be cleared please? |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Void) |
1 | 1 | 1 | 1 | |||
| XXXX | 2182021 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189324 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2189324 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189324 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2182020 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Appraisal fee increased on CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cured |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2182020 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2182020 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2192476 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192476 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192476 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2179907 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APRXXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2179907 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums is missing. Although a flood notice was located in the file. The notice was signed on the closing date. There is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2179907 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2179907 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2187205 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187205 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187205 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189321 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189321 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums. Although a flood notice was located in the file, there is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189321 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Cash to Close | XXXX | The file did not contain evidence the borrower had the proper amount of funds required to close and reserves. Borrower needs $XXXX documented for closing costs and reserves however, we only have $XXXX documented. Provide sufficient documentation for funds to close and reserves. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Funds to close $XXXX that was after the $XXXXk EMD and $XXXXk XXXX. Reserves $XXXX. total needed: $XXXX - Total verified $XXXX. XXXX #XXXX $XXXX XXXX #XXXX $XXXX XXXX #XXXX $XXXX Please advise |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189321 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The subject loan does not meet Program Parameters. Guidelines for self-employed borrowers require that the borrower be self-employed for a minimum of XXXX years or a history of XXXX years is required (page XXXX of XXXX). This borrower has only been self-employed for slightly over XXXX year and there is no prior history of employment. Provide a minimum of XXXX years history of being employed in the same line of work, welding. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CPA LOE |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189321 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2192477 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192477 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Cash to Close | XXXX | The file did not contain evidence the borrower had the proper amount of funds required to close. The Closing Disclosure reflected funds to close of $XXXX that includes a credit for the EMD of $XXXX and a gift of $XXXX. In addition, the guidelines required XXXX months PITI of $XXXX for reserves of $XXXX for a total assets required to be verified in the amount of $XXXX. The loan file contained asset documentation totaling $XXXX. The origination underwriter included a XXXX account of $XXXX in the total assets; however, the use of XXXX funds are not eligible for funds to close or reserves as reflected in the guidelines. Therefore, the borrower was short eligible verified funds to close in the amount of $XXXX. ***additional conditions may apply *** | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX Plan was used because borrower is the sole owner of the XXXX account. This is acceptable. Rebuttal 2 (XX/XX/XXXX XX:XXPM) please see account plan details to show that this is not a true custodial account. Rebuttal 3 (XX/XX/XXXX XX:XXPM) Please see page XXXX under Account Control |
Response 1 (XX/XX/XXXX XX:XXAM) The plan has XXXX beneficiaries. The guidelines indicate this plan is not eligible. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) A XXXX page document was provided. Please reference the page number and section which confirms said account is not custodial. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2192477 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2192477 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - DTI | XXXX | XXXX in the loan file for Program Parameters of the DTI to XXXX% with LTV of XXXX%. The subject loan closed with a DTI of XXXX% and an LTV of XXXX% for the purchase of a primary; however, the guidelines reflect if the DTI exceeds XXXX% the maximum LTV is XXXX%. Client to approve downgrading finding based on compensating factors. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Not required. Please re-review. DTI is at XXXX% as the the XXXX acct was paid off at closing. |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Void) |
Comp Factors - Credit Score XXXX, Prior Mortgage history 0x30 for XXXX years with Date of Last Activity of XXXX/XXXX, stable self employment of XXXX years | 1 | 1 | 3 | 1 | ||
| XXXX | 2192477 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189336 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Loan Discount Points. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CIC provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189336 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189336 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2173198 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2173198 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring report for the borrower as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) UDM |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2173198 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Debts - Not Verified | XXXX | The application lists significant debts that were not verified on the credit report and not independently verified. The loan application lists an REO property on XXXX, which the PITIA was not verified in the loan file as required to determine qualifying eligibility. ***additional conditions may apply *** | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) PITIA docs provided |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2173198 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2180062 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2180062 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2180062 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2180062 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189358 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189358 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - OFAC Screening | XXXX | The loan file does not contain evidence the other XXXX% owner of the LLC that signed the Note (XXXX) passed the OFAC screening process as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) OFAC |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 1 | 1 | |||
| XXXX | 2189358 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) This is a DSCR loan - UDM is not required please review |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Resolved) |
1 | 1 | 1 | 1 | |||
| XXXX | 2189358 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. The loan file contained a CDA dated XX/XX/XXXX that supported the value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2180045 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2180045 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2180045 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2179888 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Credit Report XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cure |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2179888 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2179888 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189308 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189308 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189308 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189673 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189673 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX, however the mortgage lists XXXX. A deed transferring ownership interest from XXXX to XXXX is required to confirm ownership interest in the new mortgage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) deed provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189673 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189673 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198823 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198823 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198823 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189325 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189325 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189325 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The subject loan closed as a Business Bank Statement loan with the borrower being self employed; however, the loan file did not contain a Business Narrative Form as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) BN |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189325 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - LTV | XXXX | The LTV does not meet the program eligibility guidelines. The subject loan is a Self Employed Bank Statement loan program for a purchase of a primary residence with a LTV of XXXX%. The loan file contains an appraisal that reflects the subject property neighborhood is rural along with A70 Rural Residential District zoning. The guidelines reflect the maximum LTV for properties deemed rural by the appraisal is XXXX%; therefore, the subject loan is an ineligible transaction. ***additional conditions may apply *** | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) see revised appraisal, pg1 updated |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189325 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196914 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196914 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196914 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2180050 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2180050 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Final Application - Missing | XXXX | The required final loan application was not provided. Per the investor guidelines, the final application must include a listing of all properties owned or leased. The origination credit reported XXXX mortgages with no matching property addresses. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX used guidelines from XXXX Flex NQM DSCR Guidelines dated XX/XX/XXXX. See section 506, only the subject property and primary residence need to be added to the application and verified. |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2180050 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Property - Previously Listed for Sale | XXXX | The property was listed XX/XX/XXXX and the initial application date was XX/XX/XXXX. The appraisal noted that the property was originally listed for sale for $XXXX and reduced on XX/XX/XXXX to $XXXX and terminated XX/XX/XXXX. The investor guidelines required borrower to confirm in writing the reason for the prior listing and to confirm their intent to retain the subject property. Borrower letter was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX used guidelines from XXXX Flex NQM DSCR Guidelines dated XX/XX/XXXX. See section 904, LOX was not required as the loan has a prepayment penalty. |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2180050 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189309 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189309 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums. Although a flood notice was located in the file, there is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189309 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD issued XXXX/XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189309 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189309 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2183884 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183884 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided for subject property is SFR in suburban location having lot size XXXX acres. Guideline XXXX is XXXX acres. Client to approve downgrading finding based on compensating factors. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception was not needed - only closed on 8.43acres per the appraisal |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
Compensating Factors: XXXX XXXX reserves, DTI XXXX% | 3 | 1 | 3 | 1 | ||
| XXXX | 2183884 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189629 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189629 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189629 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2180046 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2180046 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Note - Name Discrepancy | XXXX | The borrowers' name on the Note and Prepayment addendum to the XXXX does not appear to match the Operating Agreement. The Note and PPP addendum to the Note read XXXX when according to the Operating Agreement it should read XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Collateral |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2180046 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The Borrower name on the Security Instrument is inconsistent with Operating Agreement. The name on the Mortgage (Pages XXXX and XXXX), Assignment of Rents (Pages XXXX and XXXX), and the PPP Rider is in the entity name of XXXX and it according to the operating Agreement it should read XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Affidavit |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2180046 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | Lender exception in file to allow purchase financing for a borrower that has been 2x30 within the past XXXX months on a second mortgage on the primary residence XXXX and XXXX. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Attached |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating factors: FICO over XXXX XXXX points higher than min required, Reserves verified and XXXX mons more than required | 3 | 2 | 3 | 2 | ||
| XXXX | 2180046 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a 2nd appraisal dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2182027 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182027 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1))Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182027 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Borrower - SS# incorrect | XXXX | The file contains evidence the borrower's Social Security number is invalid and/or incorrect or does not match other file documentation. The Fraud Report contained in the loan file reflected an alert for the SSN search, and the loan file did not contain documentation that a separate SSN validation was obtained as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Hello, guidelines state this is underwriter discretion. Since it was only a DOB alert the underwriter chose to have the notary verify this information as accurate with our patriot act disclosure. |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation and documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182027 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM attached, TY! Rebuttal 2 (XX/XX/XXXX XX:XXPM) Documentation not received. (XXXX) Rebuttal 3 (XX/XX/XXXX XX:XXPM) Apologies, new to using the system. Should be good with the attached. TY! |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182027 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2184718 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2184718 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - LTV | XXXX | Lender exception in file as the subject loan does not meet Program Parameters for LTV. The subject transaction is the purchase of a primary residence with a qualifying credit XXXX. The maximum allowable LTV/CLTV is XXXX%. The subject loan was approved at XXXX% LTV/CLTV. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating factors: Qualifying DTI less than XXXX% and at least XXXX% less than guideline maximum; Borrower has worked in same job more than XXXX years | 3 | 2 | 3 | 2 | ||
| XXXX | 2184718 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2182248 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182248 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX nonprime home loan test. The loan is a nonprime home loan, as defined in the legislation. For more information please see the XXXX Nonprime Home Loan Article section of the full XXXX report. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182248 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The Note was dated XX/XX/XXXX. The lenderguidelines required a gap credit orundisclosed debt monitoring report no more than XXXX days prior to the loanclosing or any time after closing. The undisclosed debt monitoring report wasnot provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Here&#XXXX;s the complete UDM monitoring history through XXXX-XXXX. TY! |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182248 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Insufficient Documentation | XXXX | The subject transaction is a XXXX month business bank statement loan and the borrower is self-employed. The investor guidelines required documentation to support the borrower's percentage of ownership of the self-employed business with a CPA letter, business formation documents, Operating Agreement for business or other acceptable documentation. Documentation to support the borrower's ownership percentage was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Here are the business formation documents. Borrower is listed as sole member on the IRS EIN filing, sole agent on XXXX, and is still the only principal listed on the current annual findings. All of this supports XXXX% of the business. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182248 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199281 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199281 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199281 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182231 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2182231 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Interested Party Contribution - Exceeds | XXXX | The Interested Party Contributions exceed allowable guidelines and cause the recalculated LTV to increase above program maximum allowed. Per Lender's guides, the allowed IPC for LTVs above XXXX% is XXXX%. Therefore the max IPC for the subject loan is $XXXX. However, the borrower received seller's concessions of $XXXX which exceeds the XXXX allowed. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) exception provided |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX. $XXXX per month residual income. XXXX months of reserves. | 3 | 2 | 3 | 2 | ||
| XXXX | 2182231 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2192486 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192486 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192486 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196893 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196893 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196893 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189650 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2189650 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2189650 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189650 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2194175 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2194175 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions/increases: Points $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) econsent |
Response 1 (XX/XX/XXXX XX:XXAM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2194175 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2194175 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187237 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187237 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187237 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189631 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189631 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189631 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189363 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189363 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189363 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189310 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189310 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Revised CD Delivery Date (Waiting Period, APR) | XXXX | XXXX Required: An APR outside of allowable tolerance required a corrected Closing Disclosure and the corrected Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX triggered a new XXXX-day waiting period. The baseline APR for comparison purposes was set on XX/XX/XXXX with an APR of XXXX%. The APR increased more than XXXX. Therefore, a new waiting period was triggered on XX/XX/XXXX. This CD was not received at least XXXX business days prior to consummation. Please note, it appears we are missing one or more middle CDs. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD, RCD |
Response 1 (XX/XX/XXXX XX:XXPM) The documents provided are sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189310 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Inspection Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) RCD |
Response 1 (XX/XX/XXXX XX:XXPM) The documents provided are sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189310 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189310 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2179899 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2179899 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX rate spread home loan test. (XXXX GS §XXXX-XXXXF(a)(XXXX)). The Date Rate Set was: XX/XX/XXXX. The loan is a rate spread home loan, as defined in the legislation. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2179899 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Payee Not Listed | XXXX | The loan contains the following fee or fees where 'compensation to' does not reflect a XXXX on the revised CD XX/XX/XXXX. XXXX. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2179899 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2179899 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2187206 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187206 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187206 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182030 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182030 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Income - W2(s) Missing | XXXX | XXXX's missing from the loan file. For both borrowers - Per the guidelines the borrowers need to provide prior year W2's/W2 transcripts are also acceptable. XXXX a WVOE referencing prior years and most recent year to date income (current VOE does not break down the income) This is reflected on page XXXX and XXXX of XXXX from the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Hello, please see attached. Sorry for not sending in the initial package. TY! |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182030 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192489 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192489 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Other | XXXX | There are additional credit findings. The current mortgage that we are paying off with SPS is not reflecting in the borrowers credit report. Provide a XXXX month VOM to confirm that the account is in good standing. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See bank statements for #XXXX to confirm timely payments to SPS in the amount of XXXX on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. See payoff statement to confirm XX/XX/XXXX payment. |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2192489 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189669 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189669 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189669 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189339 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189339 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed monitoring report no more than XXXX days prior to the loan closing or any time after closing. Gap credit was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189339 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182045 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2182045 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The XXXX date (XX/XX/XXXX) and the date the borrower signed (XX/XX/XXXX) the Security Instrument, Prepayment Rider and XXXX-XXXX Family Rider is inconsistent. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) notary date correction was recorded |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2182045 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Name Discrepancy | XXXX | The borrower(s)' name(s) on the Security Instrument Assignment or XXXX page XXXX, is inconsistent with the Note and Deed of Trust. The Assignment of Rents Rider does list the name of the borrower, an entity, but rather lists the name of the entity member. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) correction to ALR page XXXX was recorded |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2182045 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Contract Addendum - Missing | XXXX | The Sales Contract XXXX reflecting a purchase agreement of $XXXX is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) adden |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2182045 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187208 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187208 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187208 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183883 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX prepayment term, the loan has a XXXX prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2183883 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2183883 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2187210 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187210 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX rate spread home loan test. (XXXX GS §XXXX-XXXXF(a)(XXXX)) The loan is a rate spread home loan, as defined in the legislation. For more information please see the XXXX Rate Spread Home Loan Article section of the full XXXX report. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187210 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (Revised Disclosure Late) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the decrease to lender credits was not accepted as valid. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) cured |
Response 1 (XX/XX/XXXX XX:XXPM) The documents provided are sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2187210 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Bank Statements | XXXX | The bank statements used to qualify income from PNC XXXX, covering XXXX/XXXX - XXXX/XXXX, is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) stmts |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 2 | |||
| XXXX | 2187210 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Title Commitment - Missing/Incomplete | XXXX | The title commitment is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) tpol |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2187210 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189347 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189347 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other/Missing | XXXX | Per Lender's guides, when a letter from CPA,EA,CTEC or a tax preparer with a PTIN is obtain to verify employment for the borrower, validation of the license is required to be obtained. The borrower provided a letter from a tax preparer dated XX/XX/XXXX; however, the loan file does not contain validation of the tax preparer's PTIN as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ptin |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189347 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2186197 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow and prepayment requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2186197 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) ICD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2186197 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additional fee: Appraisal Final Inspection Fee. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CD 6_24 |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2186197 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Property Type | XXXX | The loan file contains a lender exception for the property being XXXX acres in size, which above the maximum of XXXX. XXXX non-material based on compensating factors. (Waived) | Waived | Response 1 (XX/XX/XXXX XX:XXPM) XXXX non-material based on compensating factors. (Waived) |
Compensating factors - FICO of XXXX and self employed in same company for with same company for XXXX+ years | 2 | 2 | 3 | 2 | |||
| XXXX | 2186197 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189360 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189360 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | The guidelines indicate a Certificate of Good Standing or equivalent document for the Borrowing Entity XXXX required. The Certificate of Business Standing provided reflects the entity (XXXX-XXXX LLC) was Revoked for Failure to Pay Annual Reports on XX/XX/XXXX and has not been reinstated. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) LLC |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189360 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189311 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189311 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189311 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189632 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189632 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189632 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183881 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Page one of security instrument is missing the name of non-borrower listed on notary page. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Spouse is not on title and would not be listed on page XXXX of security instrument. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2183881 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183881 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196894 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2196894 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The Lender's guidelines state the maximum LTV with a credit XXXX for a purchase with a DSCR of .XXXX-.XXXX is XXXX%. The subject closed with an LTV of XXXX%. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) rent should be $XXXX per form XXXX. Rebuttal 2 (XX/XX/XXXX XX:XXPM) exception approval |
Response 1 (XX/XX/XXXX XX:XXAM) Investor must approve since there are XXXX different rent schedules. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
XXXX months of reserves. Owned primary for XXXX years. In same business XXXX years. | 3 | 1 | 3 | 2 | ||
| XXXX | 2196894 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187241 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187241 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | The loan failed the XXXX COMAR higher-priced mortgage loan test. (XXXX COMAR 09.03.06.02B(XXXX), COMAR XXXX)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the Code of XXXX Regulations (COMAR). The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187241 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187241 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189641 | 1 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | ROR - Other | XXXX | This loan failed the TILA right of rescission test. Closed-end ( 12 CFR §1026.23(a)(3). The funding date, XX/XX/XXXX, is before the third business day following consummation, XX/XX/XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) funded XXXX/XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189641 | 2 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | State Regulations | XXXX | Additional Finding: XX/XX/XXXX. This loan failed the per diem interest amount test. (XXXX Bus. Prof. Code §XXXX)The per diem interest amount charged on the loan ($XXXX) exceeds the per diem interest charge or credit threshold ($XXXX). | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189641 | 3 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (Disclosure Timing Fail) | XXXX | The loan failed the Lender Credits that Cannot Decrease Test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following decrease: Lender credit. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Lender credit first decreased on the ICD issued XX/XX/XXXX then to decreased to zero on the RCD issued XX/XX/XXXX. Both uploaded to the file now. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189641 | 4 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation)- Rescindable | XXXX | Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD and econsent |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189641 | 5 of 7 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions/increases: Loan Discount points. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) revised cd |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189641 | 6 of 7 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189641 | 7 of 7 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187235 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Power of Attorney Missing | XXXX | There is an individual on the XXXX who signed as an agent under a Power of Attorney but the Power of Attorney is not executed. There is no evidence in the loan file of a completed POA letter in order to confirm signatures were completed correctly. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) recorded POA |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187235 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187235 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187243 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187243 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Title Commitment - Other | XXXX | The proposed insured and insured amount is missing from the title commitment. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Title |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187243 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182039 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182039 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182039 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187214 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Regulations | XXXX | This loan failed the lender fees test due to one of the following findings: (XXXX §XXXX-XXXXA(e); XXXX XXXX-10(a), (g)). The loan is a first XXXX closed end mortgage with a principal amount that is greater than or equal to $XXXX and the sum of all lender fees exceeds the greater of XXXX% of the principal amount or $XXXX. Lender fees are all fees designated for the lender other than the origination fee, discount points, assumption fee, rate lock fee, application fee, commitment fee, lender inspection fee (post-close) and interest | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2187214 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Credit Report Fee, CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) PR, PCCD, LOX |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2187214 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187214 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189312 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State Disclosure - Texas Fair Market Value of Homestead Property Acknowledgement/Missing | XXXX | The Fair Market Value of Homestead Property Acknowledgement (Affidavit of Fair Market Value) is Missing. Required to be provided in connection with a XXXX. XXXX Constitution - Home Equity Loan Provisions XXXX. Const. art. XVI, 50(a)(6)(Q)(ix); (XXXX)(h) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) This is a no cash out loan |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189312 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed monitoring report no more than XXXX days prior to the loan closing or any time after closing. Gap credit was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189312 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other | XXXX | The borrower's income was qualified using XXXX months of bank statements. An Accountant Letter was provided to support the length of time the borrower has been self-employed. The investor guidelines required the Accounts license to be verified by a screen shot of the IRS Website for a PTIN or IRS Enrolled Agent. Required documentation was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CPA letters and verification from the IRS site is attached. This verification was completed on XX/XX/XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 1 | |||
| XXXX | 2189312 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189316 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189316 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | The credit report is dated XX/XX/XXXX and the loan closed on XX/XX/XXXX. Guidelines require a gap credit or Undisclosed Monitoring report no more than XXXX days prior to the loan closing or any time after closing, and is missing from the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189316 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189350 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189350 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189350 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2184711 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | This loan failed the higher-priced mortgage loan test. ( 12CFR § 1026.35(a)(1) ). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in Regulation Z The Date Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2184711 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Payee Not Listed | XXXX | The loan contains the following fee where 'compensation to' does not reflect a XXXX on the revised CD. Title - Mobile Notary Fee. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2184711 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2184711 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189313 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189313 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189313 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189314 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189314 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189314 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189348 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189348 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a))Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189348 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided for the borrower living rent free with a LTV over XXXX% - XXXX%. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: Very little debt outside of new mortgage. | 3 | 2 | 3 | 2 | ||
| XXXX | 2189348 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Title Commitment - Missing/Incomplete | XXXX | The title commitment is incomplete, missing the proposed insured and insured amount. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) tpol |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189348 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189319 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189319 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189319 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189633 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189633 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189633 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189364 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance Required | XXXX | The Flood Notice in the loan file was signed on XX/XX/XXXX. The Flood Notice should have been received at least XXXX days prior to closing. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189364 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Pages XXXX, XXXX, and XXXX of the Security Instrument are missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189364 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189364 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2196666 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196666 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Large Deposits/Unacceptable | XXXX | A personal savings account with XXXX, account ending in #XXXX with a transaction history from XX/XX/XXXX - XX/XX/XXXX was provided and included in the total borrower funds. The transaction history reflected a $XXXX transfer into this account on XX/XX/XXXX from a checking account ending in #XXXX. The source account for this transfer was not provided to support this transfer in. Total required reserves were short by $XXXX and reducing the total assets by this undocumented transfer contributed to the shortage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) sourcing |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196666 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | The total funds for closing were $XXXX, including the POC's and EMD and the total required reserves were $XXXX which was a total required funds of $XXXX. Sufficient funds were documented for closing; however the required reserves were short by $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) assets |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196666 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Miscalculated/DTI Exceeds Tolerance | XXXX | The income for the subject transaction was calculated using XXXX months of business bank statements. The self employed business narrative indicated the business income was from XXXX which falls under a [product business (i e. retail, food service, restaurant) and with XXXX employees has a fixed expense ratio of XXXX%. Using the total average monthly income of $XXXX minus a XXXX% expenses factor results in total monthly income of $XXXX which increased the DTI to XXXX% and exceeds the maximum DTI of XXXX%. At origination, a XXXX% expense factor was utilized; however, file did not provide documentation to support the use of the XXXX% expense factor. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CPA letter |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196666 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187217 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2187217 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced Rider(s) / Legal Addendum(s) are missing: Assignment of Leases and Rents | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) recorded XXXX riders |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2187217 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187217 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189318 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) ICD and e-consent |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189318 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed monitoring report no more than XXXX days prior to the loan closing or any time after closing. Gap credit was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) UDMprovided |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189318 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other | XXXX | The borrowers income was calculated from XXXX months of business assets. A CPA letter was provided to support the borrowers ownership percentage in her self employed business, length of time business has been in operation, and the business expense ratio. The investor guidelines required the CPA license to be verified with by copy of the license or screen shot from a state licensing authority. Required documentation was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) doc provided |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 1 | |||
| XXXX | 2189318 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2184713 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2184713 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a)). The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2184713 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: Recording Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) PCCD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2184713 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. XXXX, Credit Report Fee. However, these fees should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2184713 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2184713 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2183887 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183887 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: XXXX, XXXX . A total cost to cure in the amount of $XXXX is required, ofwhich $XXXX was cured at closing. A cost to cure in the amount of $XXXX remains. LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CD for XXXXD/CDA. The XXXX cure was for CDA fee over limit. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2183887 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183887 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189315 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189315 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189315 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2183889 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183889 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | An accountant letter was provided to support borrower's ownership percentage of the self-employed business and no negative impact to self employed business when using business funds for the transaction. The investor guidelines required accountant license to be validated per CPA/EA/CTEC/Tax Attorney/PTIN. Required documentation to verify accountant license for XXXX with XXXX, not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Ownership provided; please confirm the CPA verification is strictly an investor overlay and not due to our guidelines Rebuttal 2 (XX/XX/XXXX XX:XXPM) doc provided |
Response 1 (XX/XX/XXXX XX:XXAM) The requirement is on page XXXX of the underwriting guide. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2183889 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOE Self-Employed/Missing | XXXX | The subject transaction was qualified using XXXX months bank statement income from XXXX. The investor guidelines required a minimum of years of self employment to be verified. An accountant letter verifying ownership percentage for the borrower in the business was provided; however, documentation to support when the business was opened and length of time of borrowers ownership was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Doc provided |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2183889 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOE/Missing | XXXX | Subject transaction was qualified using bank statement income and secondary wage income from XXXX. A VVOE within XXXX business days prior to the XXXX date. Required VVOE was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Paycheck provided within XXXX business days of closing confirming borrower is active |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2183889 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182244 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument is incomplete: XXXX is missing | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) SECI recorded w legal |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2182244 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - 10% Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Recording Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) cure |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2182244 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2182244 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189317 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189317 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Loan Amount | XXXX | XXXX in file as the subject loan does not meet Program Parameters for minimum loan amount. The minimum loan amount required per guidelines is $XXXX. The subject loan closed with a loan amount of $XXXX, which does not meet the minimum required. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Experienced Long-Term Investor and LTV XXXX DSCR | 3 | 2 | 3 | 2 | ||
| XXXX | 2189317 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2186199 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2186199 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) this is not a requirement for DSCR loans. |
Response 1 (XX/XX/XXXX XX:XXAM) Explanation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2186199 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187259 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187259 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187259 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192478 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192478 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192478 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189349 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189349 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed debt monitoring report no more than XXXX days prior to the loan closing or any time after closing. The undisclosed debt monitoring report was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189349 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189361 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189361 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189361 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189639 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189639 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189639 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198814 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198814 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | Sufficient reserves to meet underwriting requirements and PITI were not verified in the file. The Lender's guidelines required XXXX months reserves of PITI and cash back could be used to fill requirement. Reserves in the amount of $XXXX were required to be verified. The loan file did not contain any asset documentation. The Borrower received cash back in the amount of $XXXX. Therefore there was a shortage of reserved assets in the amount of $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Assests |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198814 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2183891 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX prepayment term, the loan has a XXXX prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2183891 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2183891 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2187267 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187267 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Condo - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. Provide Condo Project Manager (CPM) to verify that the project is not "unavailable" per page XXXX and XXXX of the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CPM was not in file since this condo is not in XXXX system. This is different to being "Unavailable", which would mean the condo was in the CPM system and has fallen out of approved status. Please clear with the attached. TY! Rebuttal 2 (XX/XX/XXXX XX:XXAM) Condo docs provided |
Response 1 (XX/XX/XXXX XX:XXPM) Attachment not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187267 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198822 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198822 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Condo - Documentation | XXXX | XXXX in file to use the XXXX findings for condo approval. It should be noted the project is over XXXX years old and > XXXX stories, therefore requires a structural inspection. XXXX in file at origination indicates exception is inclusive of structural inspection requirement. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating Factors: Experienced Investor, 0x30x24 Mortgage History | 3 | 2 | 3 | 2 | ||
| XXXX | 2198822 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189635 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189635 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189635 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189343 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% he calculated APR XXXX% the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189343 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Alerts | XXXX | The credit report contain an initial credit alert which have not been adequately addressed in the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Credit alert |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189343 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189665 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189665 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189665 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182245 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182245 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182245 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CU Score of XXXX | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189634 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189634 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189634 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182050 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182050 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a))Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182050 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182050 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187221 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Missing (All) | XXXX | There is no evidence of a HUD-XXXX Settlement Statement provided in the loan file. As a result the following reviews could not be performed: TILA Accuracy, MDIA, XXXX, XXXX, QM XXXX, XXXX, XXXX, RESPA XXXX review, and final HUD-XXXX accuracy. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8(a) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) TY! Rebuttal 2 (XX/XX/XXXX XX:XXAM) Escrow final CD provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is not sufficient to clear the finding. The Itemization worksheet has been provided and cannot be used in lieu of a HUD/ALTA Statement signed by the borrowers or stamped Trust and Certified. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187221 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing HUD | XXXX | Missing HUD as required. The final HUD-XXXX settlement statement is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) TY! |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187221 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182038 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182038 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Borrower - SS# incorrect | XXXX | The file contains evidence the borrower's Social Security number is invalid and/or incorrect or does not match other file documentation. The Fraud Report reflected a SSN Alert, and the loan file did not contain the required SSN Validation documentation to clear the SSN Alert on the Fraud Report, which may cause the subject loan to be an ineligible transaction as per the guidelines. ***Additional Conditions May Apply *** | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) SSN Ver Rebuttal 2 (XX/XX/XXXX XX:XXPM) XXXX reviewed and updated XXXX. Rebuttal 3 (XX/XX/XXXX XX:XXPM) SSN ver |
Response 1 (XX/XX/XXXX XX:XXPM) SS# XXXX is for the Primary Borrower. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Please provide SS# confirmation for XXXX. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182038 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182038 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187268 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187268 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Condo - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. Provide Condo Project Manager (CPM) to verify that the project is not "not available" per the guidelines on page XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) CPM is attached, currently in un-reviewed status. TY! Rebuttal 2 (XX/XX/XXXX XX:XXAM) Condo docs provided |
Response 1 (XX/XX/XXXX XX:XXPM) Attachment not received. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187268 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Hazard Insurance - Missing/Insufficient | XXXX | The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost. Could not locate current H06 policy for the subject unit with coverage and deductible. Please provide to confirm sufficient coverage and deductible. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) In the Description the Master policy states it covers Walls and Fixtures so H0-XXXX coverage is not required. Thanks! |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2187268 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189658 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189658 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189658 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Other | XXXX | The borrower rents at his primary residence at the time of application. A VOR from a a private party. The investor guidelines required XXXX months of canceled checks, bank statements of pay histories (XXXX, XXXX etc.) to support consistent payments. Required documentation was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) VOR plus XXXX months on bank statements (rent paid XXXX monthly) |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189658 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Other | XXXX | The Note was dated XX/XX/XXXX. The lender guidelines a required a gap credit or undisclosed monitoring report no more than XXXX days prior to the loan closing or any time after closing. Gap credit was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm lox |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189658 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other | XXXX | The borrowers income was calculated from XXXX months of business bank statements. A CPA letter was provided to support the borrowers ownership percentage in his self employed business, and length of time self employed. The CPA letter also confirmed the use of business funds for the required funds would not negatively impact the business. The investor guidelines required the CPA license to be verified with by copy of the license or screen shot from a state licensing authority. Required documentation was not provided. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) license |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 1 | |||
| XXXX | 2189658 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189371 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189371 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189371 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189320 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189320 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189320 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189327 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums. Although a flood notice was located in the file, there is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing, National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189327 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189327 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOR | XXXX | Verification of XXXX months rental payments is required. The borrower stated on the loan application they have rented their residence; however, the loan file does not contain a VOR as required to document XXXX months rental payments per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) VOR |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189327 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2187223 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187223 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Initial CD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2187223 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187223 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192480 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192480 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192480 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189636 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189636 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189636 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187258 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187258 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX HOEPA higher-priced mortgage loan test.The loan is a higher-priced mortgage loan, as defined in the legislation. For more information, please see the XXXX-Priced Mortgage Loan Article section of the full XXXX report. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187258 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187258 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189365 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189365 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189365 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182236 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182236 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Rent payments attached. See page XXXX of XXXX report to verify XXXX and XXXX own the property our borrower is renting. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182236 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Verification Documentation - VOR | XXXX | Verification of XXXX months rental payments is required. The loan application reflected the borrower was renting their current residence; however, the loan file did not contain verification of the rental payments for the last XXXX months as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Thanks! |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182236 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189326 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189326 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189326 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189323 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189323 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189323 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192481 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192481 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Debts - Not Verified | XXXX | Additional information for XXXX #XXXX XXXX, XXXX XXXX is required; Per the XXXX dated XX/XX/XXXX and the final XXXX the borrower owns this property. Please provide verification of the property taxes, HOA statement, hazard insurance statement; verifying the property is free and clear XXXX the most recent mortgage statement and XXXX month payment history. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) This property is owned by LLC and not borrower personally, additonal verification from borrower is not required. |
Response 1 (XX/XX/XXXX XX:XXPM) Explanation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2192481 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Debts - Not Verified | XXXX | Copy of the final XXXX reflecting XXXX XXXX, XXXX XXXX has been sold; Per the XXXX dated XX/XX/XXXX the borrower owns this property but not disclosed on the loan application. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Per LSFM, the property is owned by the LLC. Properties owned and obligated by an LLC, not personally by the borrower, do not need to be added to URLA. See section XXXX of XXXX Flex NQM Underwriting Guidelines XX/XX/XXXX. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2192481 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182046 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182046 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2182046 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187238 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice to Borrower in Special Flood Hazard Area Disclosure was not received XXXX days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2187238 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other/Missing | XXXX | Per Lender's guides, when a letter from CPA,EA,CTEC or a tax preparer with a PTIN is obtain to verify employment for the borrower, validation of the license is required to be obtained. The borrower provided a letter from a CPA dated XX/XX/XXXX; however, the loan file does not contain validation of the CPA's license as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) license |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2187238 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189667 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189667 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Insufficient Documentation | XXXX | Per Lender's guides, when approved for XXXX months bank statement program, all bank statements are required to be provided. The co-borrower was required to provide XXXX months of bank statements for the business XXXX. However, XXXX months of bank statements were provided; March XXXX thru XXXX/XXXX. The April bank statement is missing from the loan file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Statement Rebuttal 2 (XX/XX/XXXX XX:XXPM) UW used income from April2025-March XXXX Rebuttal 3 (XX/XX/XXXX XX:XXPM) Assets |
Response 1 (XX/XX/XXXX XX:XXPM) April XXXX statement received a second time. Still missing April XXXX statement. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Most recent statement is more than XXXX days prior to the XXXX date. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189667 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192493 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192493 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192493 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189671 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189671 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189671 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196665 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196665 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Income - Other | XXXX | Lender exception in file. Using the lower expense ratio from the CPA letter for Borrower XXXX. Started new business in XXXX - XXXX taxes are onextension so CPA cannot attest to filing most recent taxes, but wrote letter that they have reviewed the assets for the business. Client to approve downgrading finding based on compensating factors. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception no longer required as co-borrower’s income not used for qualification. Rebuttal 2 (XX/XX/XXXX XX:XXPM) For the REO, please update the REO mtg payment from XXXX to XXXX and add the gross rents $XXXX. Supporting document attached and already in file. Please see XXXX for calculations. DTI is XXXX. |
Response 1 (XX/XX/XXXX XX:XXAM) The DTI is XXXX% without the co-borrower's income. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
Compensating Factors: XXXX, XXXX years in same industry | 3 | 1 | 3 | 1 | ||
| XXXX | 2196665 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2182239 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The name of the Condo on the Condo Rider, XXXX - does not match the Condo name on the legal description and the appraisal, XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) pc |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182239 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Other | XXXX | The Note was dated XX/XX/XXXX. The lenderguidelines required a gap credit or undisclosed debt monitoring report no morethan XXXX days prior to the loan closing or any time after closing. Theundisclosed debt monitoring report was not provided as required | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) udm |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2182239 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189662 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189662 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | The guidelines indicate when vesting in the name of an entity, an Operating agreement is required and if the Secretary of State from the LLC’s home state (XXXX) does not require an Operating Agreement, then an Officer’s Certificate, which includes a Unanimous Written Consent of the member(s) of the Mortgagor is required. The loan file is missing an executed Operating Agreement and/or an executed Officer's Certificate. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) The Operating Agreement is not a requirement if we can determine the borower is XXXX% owner of the business. The notice CP575G for EIN from IRS confirms this is a sole member LLC so the OA is not required. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189662 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Incorrect | XXXX | The Flood Certification in file reflects the Borrower's name as XXXX vs. XXXX and/or XXXX, as reflected on the Note and Mortgage. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) updated cert |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189662 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189355 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189355 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Appraisal Missing | XXXX | Missing required appraisal from file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) app |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189355 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189355 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189328 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189328 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189328 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189643 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189643 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non-Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumer's E-consent is required. (12 CFR §1026.19(f)(1)(ii)) | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) ICD and e-consent provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189643 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) udm provided |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189643 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198830 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198830 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Cash to Close | XXXX | The file did not contain evidence the borrower had the proper amount of funds required to close. The borrower is currently short assets for closing and reserves because of XXXX large deposits, please see the finding for large deposit. If nothing provided for source of large deposit finding provide sufficient assets to cover what the borrower is currently short for closing and reserves in the amount of $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See updated XXXX & assets Rebuttal 2 (XX/XX/XXXX XX:XXPM) We don't need this account, assets were updated and CFAs for business account provided. |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide sources of large deposits or obtain Investor waiver. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The borrower only has XXXX% ownership in the business. No access letter from other owners provided. Therefore, per the guidelines, only XXXX% of the business assets could be used for qualifying, which total XXXX. This would not be sufficient assets to cover total assets required for closing. The large deposit for $XXXX could be excluded; however, the $XXXX deposit still needs to be sourced. It appears it may be from the sale of the property sold XX/XX/XXXX. A Closing Disclosure will satisfy the condition if the funds match the deposit. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198830 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Large Deposits/Unacceptable | XXXX | Recent large deposits were not adequately sourced and/or documented. In the borrowers personal bank account - XXXX/XXXX there are XXXX large deposits that are not sourced; XXXX/XXXX for $XXXX and XXXX/XXXX for $XXXX. These funds are needed for cash to close and reserves. Provide acceptable verification for the XXXX large deposits or assets in that account cannot be used for closing. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Updated assets Rebuttal 2 (XX/XX/XXXX XX:XXPM) We don't need this account, assets were updated and CFAs for business account provided. Rebuttal 3 (XX/XX/XXXX XX:XXPM) CD provided |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide sources of large deposits or obtain Investor waiver. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The borrower only has XXXX% ownership in the business. No access letter from other owners provided. Therefore, per the guidelines, only XXXX% of the business assets could be used for qualifying, which total XXXX. This would not be sufficient assets to cover total assets required for closing. The large deposit for $XXXX could be excluded; however, the $XXXX deposit still needs to be sourced. It appears it may be from the sale of the property sold XX/XX/XXXX. A Closing Disclosure will satisfy the condition if the funds match the deposit. (XXXX) Response 3 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198830 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196900 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196900 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196900 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189329 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189329 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189329 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198842 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance Required | XXXX | XXXX Required. The Flood Notice in the loan file was signed on XX/XX/XXXX. The Flood Notice should have been received at least XXXX days prior to closing. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198842 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198842 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189342 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189342 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189342 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189362 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Incomplete | XXXX | The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: the Prepayment Rider and the Assignment of Leases and XXXX are missing date next to the borrower's signature. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) dates were added before document recorded, see recorded copy. |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189362 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189362 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198851 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198851 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198851 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189331 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189331 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189331 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196910 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196910 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196910 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196901 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196901 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196901 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189332 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189332 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189332 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189652 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189652 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Appraisal - Other | XXXX | The PDF appraisal located within the loan file is missing some the the photos the appraiser provided; It appears to be a corrupted file. Please provide a copy of the full appraisal including all photos. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) APPR |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189652 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189334 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189334 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189334 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189333 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189333 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189333 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189335 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189335 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189335 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189646 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189646 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Other | XXXX | The guidelines indicate the credit report, and all other credit documents may not be older than XXXX days from the XXXX date. The XXXX #XXXX account provided for verification of funds to close/reserves was dated XX/XX/XXXX, > XXXX days (XXXX days) from the XX/XX/XXXX Note Date. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) That account is not required, see application. Closing funds verified are XXXX #XXXX and XXXX #XXXX. Rebuttal 2 (XX/XX/XXXX XX:XXPM) fidelity |
Response 1 (XX/XX/XXXX XX:XXPM) Please provide Fidelity 401K withdrawal terms. (Uphgeld) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189646 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The guidelines indicate Non-arm's length transactions are ineligible for the Flex DSCR program. In addition, FSBO transactions are generally not considered NAL, unless the appraiser determines the relationship as non-arm’s length. The subject transaction is a FSBO and the XXXX indicates the parties are known to each other and notes the transaction as Non-Arms Length. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) LOX was provided for this |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189646 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199295 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199295 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199295 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189359 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189359 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189359 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198846 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198846 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198846 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198817 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX month prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198817 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198817 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189337 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189337 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | Missing required business documentation per guidelines. The Lender's guidelines require an EIN/W9. Despite this requirement, the loan file is missing an EIN/W9. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) TY! |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189337 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192495 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192495 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192495 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187262 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187262 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187262 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189357 | 1 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD/Lender Credits that Cannot Decrease (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the Initial Closing Disclosure Delivery Date Test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions/increases: Lender Credits. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Initial CD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189357 | 2 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Initial CD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189357 | 3 of 5 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Disclosure Timing Fail) | XXXX | The loan failed the charges that cannot increase test. Because the loan failed the Initial Closing Disclosure Delivery Date Test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions: Points. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Initial CD |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2189357 | 4 of 5 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided for borrower not having a consecutive XXXX month history of paying. The XXXX & XXXX XXXX rental payments were paid by arrangement of the borrower paying on behalf of the landlord in exchange for reduced rent. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) exception |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating Factors: DTI XXXX%, Residual Income $XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2189357 | 5 of 5 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189338 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189338 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189338 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189637 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation)- Rescindable | XXXX | Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) TY! |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189637 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Debts - Not Verified | XXXX | The application lists significant debts that were not verified on the credit report and not independently verified. The borrowers current mortgage that is being paid off is a private mortgage and there is no VOM in the file for the payment history for the past XXXX months. Provide VOM for the current mortgage to confirm no delinquent payments in the recent XXXX months. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Hello, Please see the attached modification (just to extend balloon period), note and XXXX months bank statements showing payments made to XXXX the private party lender. Payments are consistent and made promptly at the end of every month for the next month. This documentation should be sufficient, please clear. TY! |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189637 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196895 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196895 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196895 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187245 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187245 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187245 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192483 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Disclosures/Escrow Account | XXXX | The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: The No Escrow Table is inaccurate. There is no box checked as to if XXXX's were declined or your lender does not offer one. Truth in XXXX (Regulation Z) 12 CFR 1026.38(l)(7) | Acknowledged | XXXX | 2 | 2 | 2 | 2 | ||||
| XXXX | 2192483 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2192483 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189653 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189653 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189653 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189340 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Disclosures/Escrow Account | XXXX | The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: It was not disclosed if the Borrower declined it or if the Lender does not offer an escrow account. | Acknowledged | XXXX | 2 | 2 | 2 | 2 | ||||
| XXXX | 2189340 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189340 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198818 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198818 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198818 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189372 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189372 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | Not all required credit reports are within the file. The most recent credit report for the borrower is dated XX/XX/XXXX and the loan closed on XX/XX/XXXX. Guidelines require a gap credit report or undisclosed debt monitoring report no more than XXXX days prior to the closing date which is missing from the file. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189372 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198819 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198819 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198819 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189638 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189638 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189638 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189341 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189341 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189341 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196896 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance Required | XXXX | The Flood Notice in the loan file was signed on XX/XX/XXXX. The Flood Notice should have been received at least XXXX days prior to closing. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2196896 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196896 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189668 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189668 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189668 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189648 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189648 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189648 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198836 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198836 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Liabilities - Missing Debts/DTI Within Tolerance (43%) | XXXX | The DTI did not reflect all of the borrower's debts, however, the recalculated DTI is still within allowable tolerances (XXXX%) or XXXX% MAX. The borrowers vacating primary debt is not being included in the original DTI at the time of review. Once that negative income from the property XXXXmyrna XXXX the DTI increases from XXXX% to XXXX%. Nothing needs to be completed at this time the borrower is still with in acceptable DTI limits. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX updated |
Response 1 (XX/XX/XXXX XX:XXAM) Finding not required. (Void) |
1 | 1 | 1 | 1 | |||
| XXXX | 2198836 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196670 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196670 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Debts - Not Verified | XXXX | The application lists significant debts that were not verified on the credit report and not independently verified. The total monthly expenses for XXXX used to qualify are $XXXX. The PITI of $XXXX was verified and includes escrows. The additional $XXXX appears to be an HOA expense; however, was not verified in the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) HOA expense $XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196670 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | The subject loan does not meet Program Parameters. Guidelines require the PTIN Verification for the tax preparer, XXXX, who verified the borrower's business existence/ownership. This documentation is missing from the file. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) PTIN |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196670 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2194176 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2194176 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed monitoring report no more than XXXX days prior to the loan closing or any time after closing. Gap credit was not provided as required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) udm |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2194176 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196667 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196667 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | Not all required credit reports are within the file. The most recent credit report for the borrower is dated XX/XX/XXXX and the loan closed on XX/XX/XXXX. Guidelines require a gap credit report or undisclosed debt monitoring report no more than XXXX days prior to the closing date which is missing from the file. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM, LOX |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196667 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Flood Certificate - Incorrect | XXXX | The flood certificate reflects the subject city address as XXXX; however, the Note reflects XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) updated cert |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196667 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199300 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199300 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199300 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189344 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189344 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | XXXX provided for rent free borrower XXXX is XXXX% with XXXX% LTV. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: XXXX, DTI XXXX% | 3 | 2 | 3 | 2 | ||
| XXXX | 2189344 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189655 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189655 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189655 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189655 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189640 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189640 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189640 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198820 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198820 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198820 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2187263 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow. Prepayment, and XXXX requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187263 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Initial CD eConsent |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2187263 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2187263 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189346 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189346 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189346 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189345 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189345 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189345 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189642 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189642 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189642 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192485 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192485 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192485 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192484 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192484 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192484 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189647 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189647 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189647 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189356 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 4 | 1 | |||||
| XXXX | 2189356 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing | XXXX | The Security Instrument (Mortgage/Deed of Trust) is missing. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) DOT |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
4 | 1 | 4 | 1 | |||
| XXXX | 2189356 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2189356 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 4 | 1 | |||||
| XXXX | 2189368 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189368 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | Guidelines state in order to qualify for an escrow/impound waiver there cannot be any delinquent property taxes over XXXX days, if over XXXX days the borrower does not qualify for an escrow/impound waiver. Per the tax cert the delinquent property taxes paid off with loan proceeds are over XXXX months delinquent but the loan allows for an escrow/impound waiver. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Exception |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX. XXXX% LTV. Experienced Investor. XXXX XXXX. | 3 | 2 | 3 | 2 | ||
| XXXX | 2189368 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189368 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189644 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189644 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Liabilities - Mortgage Payment History | XXXX | Lender exception in file per the credit report the borrower was 1x30 on the XXXX for the departing residence on XXXX/XXXX. Per the lender guidelines the mortgage history must be 0x30. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating factors: Borrower has worked in same job more than XXXX years; Borrower has worked in same industry more than XXXX years; Borrower has verified residual income (disposal income) of at least $XXXX per month | 3 | 2 | 3 | 2 | ||
| XXXX | 2189644 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the value within 10%. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198821 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198821 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - LTV | XXXX | The borrower has been living rent free for the past XXXX months moving from In to XXXX; Guidelines state if living rent free for any period of time max LTV/CLTV XXXX%, requesting an exception to go to XXXX% LTV/CLTV. Client to approve downgrade finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating factors: Housing payment history is 0x30x24 or better; FICO higher than XXXX, and at least XXXX points higher than guideline minimum; Borrower has worked in the same job more than XXXX years; Borrower has worked in the same industry more than XXXX years | 3 | 2 | 3 | 2 | ||
| XXXX | 2198821 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198831 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198831 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Program Parameters - Property Type | XXXX | Lender exception in file to allow purchase financing on a property that does not have central air conditioning located in the state of XXXX; which is typical for the Guidelines lack of central air conditioning as an ineligible property type. Client to approve downgrading finding based on compensating factors. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) approval |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
Compensating factors: FICO higher than XXXX, and at least XXXX points higher than guideline minimum; XXXX higher than 1.1x, and at least 0.1x higher than guideline minimum; Housing payment history is 0x30x24 or better | 3 | 2 | 3 | 2 | ||
| XXXX | 2198831 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2192487 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192487 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192487 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189645 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2189645 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Report - Inquiries | XXXX | The guidelines indicate all recent credit inquiries made within XXXX days of the credit report date must be accompanied by a signed letterfrom the borrower explaining the inquiries and whether additional credit was obtained. The credit report reflects inquiries < XXXX days from the credit report date (XX/XX/XXXX) that were not addressed in the credit inquiry letter provided from the Borrower(s). The loan file is missing a LOE for the following credit inquiries: XXXX / XXXX on XX/XX/XXXX and XXXX of XXXX on XX/XX/XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) LOE |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2189645 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2196908 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196908 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196908 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199284 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199284 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199284 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198847 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198847 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198847 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192491 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192491 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192491 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189351 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189351 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189351 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196669 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196669 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Other | XXXX | The bank statement provide for verification of funds to close and reserves is in the names of XXXX and XXXX; Guidelines state asset accounts shared with non-borrowers require an access letter stating the borrower has full access to all of the XXXX joint accts ending in XXXX, XXXX, XXXX. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) See XXXX to confirm Internal Exception Code 1055.15 (IEC XXXX) applied to waive the access letter requirement. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196669 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189657 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189657 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189657 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199282 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199282 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199282 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192488 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192488 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192488 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198832 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198832 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198832 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXXm which supports value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189649 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2189649 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189649 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2192490 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192490 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192490 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198824 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198824 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198824 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196675 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Appraisal. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) LE sent, AMC printout on rush fee |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2196675 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196675 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2199289 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199289 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199289 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189659 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fee was not accepted as valid: Points, XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) CIC provided |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189659 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Bank Statements | XXXX | The bank and/or asset statements are incomplete. The income that is being used includes XXXX bank statement from XXXX however the XXXX statement is not included in the file. Please provide the bank statement reflecting monthly deposit of $XXXX to determine income calculation is correct. Additional conditions may apply. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) stmt provided |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
4 | 1 | 3 | 1 | |||
| XXXX | 2189659 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. Cu score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198825 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198825 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report . However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198825 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198825 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2189672 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189672 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189672 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189374 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189374 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189374 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189651 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189651 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. Per the borrowers letter the proceeds from this transaction was for the purchase of a new property. Provide payment information for that property since we are aware that the borrowers intentions are for additional debt that we are not currently taking into consideration. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXAM) Please see UW comments |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2189651 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189369 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189369 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189369 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189654 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189654 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189654 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196907 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196907 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196907 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198849 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198849 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198849 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196906 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196906 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Title Commitment - Missing/Incomplete | XXXX | The proposed insured amount is missing from the title commitment. Title should reflect $XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) TPOL |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2196906 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198828 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was:XXXX/XXXX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198828 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | Credit Missing - One or More Reports Missing | XXXX | Credit report dated XX/XX/XXXX. The loan closed XX/XX/XXXX. Guidelines require a gap credit or Undisclosed Debt Monitoring report no more than XXXX days prior to closing or any time after closing, and is missing from the file. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) UDM |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198828 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198838 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198838 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) disclosures w/COCs |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2198838 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | Assets - Minimum Reserves | XXXX | The loan file is short of required reserves in the amount of $XXXX by XXXX. This causes the loan to be short of the XXXX month reserve requirement. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) exception on reserves |
Response 1 (XX/XX/XXXX XX:XXAM) Waiver granted by Investor. (Waived) |
XXXX. XXXX% DTI. $XXXX per month residual income. | 3 | 2 | 3 | 2 | ||
| XXXX | 2198838 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198829 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198829 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198829 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199293 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199293 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199293 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199293 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189370 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189370 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189370 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196676 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196676 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196676 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189661 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189661 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189661 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189367 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189367 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189367 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192492 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2192492 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | Missing required business documentation per guidelines. The Lender's guidelines require a certificate of good standing or equivalent document. Despite this requirement, the loan file does not contain a certificate of good standing or equivalent document. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) COGS |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2192492 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2196909 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196909 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196909 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198835 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198835 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198835 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198843 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums. Although a flood notice was located in the file, there is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2198843 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) ICD & econset |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2198843 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2198843 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2189666 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189666 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189666 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198833 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Loan Disclosures/Escrow Account | XXXX | The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: It was not disclosed if the borrower declined or if the lender does not offer an escrow account. Truth in XXXX (Regulation Z) 12 CFR 1026.38(l)(7) | Acknowledged | XXXX | 2 | 2 | 2 | 2 | ||||
| XXXX | 2198833 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198833 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198850 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198850 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198850 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) The FNMA CU score XXXX so a secondary valuation is not required. Please see page XXXX of the total XXXX pages uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 | |||
| XXXX | 2198834 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198834 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198834 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199288 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199288 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199288 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194179 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194179 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194179 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196674 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 3 | 2 | |||||
| XXXX | 2196674 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing Entity Documentation | XXXX | The Operating Agreement provided for the borrowing entity, XXXX, was not executed by the Borrower/Guarantor XXXX. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX is confirmed to be XXXX% owner of the LLC via the EIN documentation, so a signed copy of operating agreement is not needed for this file. |
Response 1 (XX/XX/XXXX XX:XXPM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 2 | |||
| XXXX | 2196674 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2192494 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192494 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2192494 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199298 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199298 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199298 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199290 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199290 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199290 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196913 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196913 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196913 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199291 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199291 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199291 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189664 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable | XXXX | Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) TY! |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 1 | ||
| XXXX | 2189664 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189664 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2198853 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198853 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198853 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196904 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196904 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196904 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196911 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196911 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196911 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199301 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | HUD1 - Not Final | XXXX | It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199301 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199301 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198841 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. (Credit Report). However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198841 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198841 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196903 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196903 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196903 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198844 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198844 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198844 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199294 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX; however, there is no evidence in the loan file that the Flood notice was received by the borrower no later than XXXX calendar day before closing. (XX/XX/XXXX) | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199294 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - CD - Section B incorrect payee | XXXX | The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B - Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. (Credit Report). However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199294 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199294 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2196905 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196905 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196905 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198854 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198854 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198854 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198854 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198845 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198845 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2198845 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196912 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196912 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2196912 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2199297 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | State Testing - Prepayment Penalty | XXXX | This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC. | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2199297 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2199297 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198852 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Flood Insurance - Escrow Notice | XXXX | The loan was subject to XXXX; however, there is no evidence in the loan file that the Notice of Flood disclosure was received by the borrower no later than XXXX calendar days before closing (XX/XX/XXXX). | Acknowledged | 2 | 2 | 2 | 2 | |||||
| XXXX | 2198852 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2198852 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 2 | 2 | |||||
| XXXX | 2191893 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191893 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2191893 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2194260 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2194260 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The Lender's guidelines required an ACH form on all cash out refinances with an LTV > XXXX%. Despite this requirement, the loan file does not contain an ACH form. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Guideline not required for ACH Rebuttal 2 (XX/XX/XXXX XX:XXAM) Recurring payment form |
Response 1 (XX/XX/XXXX XX:XXAM) Page XXXX of DSCR Legend guides at the bottom. Bullet point XXXX. (XXXX) Response 2 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
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| XXXX | 2194260 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191887 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced < Rider(s) / Legal Addendum(s) are missing: The XXXX-XXXX Family Rider and Prepayment Rider. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX-XXXX family rider page XXXX-XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
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| XXXX | 2191887 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191887 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2191885 | 1 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | Security Instrument - Missing Rider/Addendum | XXXX | The following referenced Rider(s) / Legal Addendum(s) are missing: XXXX-XXXX Family Rider | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX-DOT with riders Rebuttal 2 (XX/XX/XXXX XX:XXAM) XXXX-XXXX family rider page XXXX-XXXX |
Response 1 (XX/XX/XXXX XX:XXPM) Documents not received. Please resubmit. (XXXX) Response 2 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
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| XXXX | 2191885 | 2 of 6 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (No Valid COC) | XXXX | The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Points. A cost to cure in the amount of XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX-Change of Circumstance |
Response 1 (XX/XX/XXXX XX:XXPM) The documentation provided is sufficient to clear the finding. (Resolved) |
XXXX | 3 | 1 | 3 | 2 | ||
| XXXX | 2191885 | 3 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Condo - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The Note reflects the borrowers signed on behalf of a business; however, the loan file did not contain an Operating Statement for the business reflecting the ownership percentage of the borrowers as required per the guidelines when signing on behalf of a business. The loan file contained a Letter of Explanation (LOE) from the borrower and co-borrower stating they both were signing on behalf of the business and do not have a current operating statement. The guidelines do not specify alternative options for accepting the LOE in lieu of the required Operating Statement. Also the loan file did not contain an exception. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) XXXX-XXXX with email regarding Operating statement-XXXX |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
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| XXXX | 2191885 | 4 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | Credit - Other | XXXX | There are additional observations that could impact the credit decision and/or quality of the loan. The Note reflects the borrower and co-borrower signed on behalf of a business; however, the loan file does not contain an executed Guaranty by each borrower as required per the guidelines. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Guaranty |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
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| XXXX | 2191885 | 5 of 6 | XXXX | XXXX | XXXX | XXXX | Credit | DSCR - Missing background check | XXXX | Missing background check per guidelines. The loan file contained a Fraud Report that did not contain a Criminal Records Search for the borrower or the co-borrower. | Waived | Rebuttal 1 (XX/XX/XXXX XX:XXPM) Exception uploaded. |
Response 1 (XX/XX/XXXX XX:XXPM) Waiver granted by Investor. (Waived) |
Compensating Factors: FICO score XXXX, $XXXX reserves, DSCR XXXX | 3 | 2 | 3 | 2 | ||
| XXXX | 2191885 | 6 of 6 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value. | Cleared | 1 | 1 | 3 | 2 | |||||
| XXXX | 2175308 | 1 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | Federal - HPML APR/Compliant | XXXX | The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175308 | 2 of 4 | XXXX | XXXX | XXXX | XXXX | Compliance | State HPML | XXXX | This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code.The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met. | Acknowledged | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175308 | 3 of 4 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2175308 | 4 of 4 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. | Cleared | 1 | 1 | 1 | 1 | |||||
| XXXX | 2189408 | 1 of 3 | XXXX | XXXX | XXXX | XXXX | Compliance | TRID - Zero Tolerance Violation (Revised Disclosure Late) | XXXX | The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Credit Report fee increased on revised CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. | Void | Rebuttal 1 (XX/XX/XXXX XX:XXPM) please see rebuttal |
Response 1 (XX/XX/XXXX XX:XXPM) Finding Voided. |
XXXX | 1 | 1 | 3 | 1 | ||
| XXXX | 2189408 | 2 of 3 | XXXX | XXXX | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. | Cleared | 1 | 1 | 3 | 1 | |||||
| XXXX | 2189408 | 3 of 3 | XXXX | XXXX | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. Missing secondary evaluation product completely at origination. | Resolved | Rebuttal 1 (XX/XX/XXXX XX:XXPM) appraisal |
Response 1 (XX/XX/XXXX XX:XXAM) Documentation received is sufficient. (Resolved) |
3 | 1 | 3 | 1 |