Exhibit 99.05 Schedule 2

 

Rating Agency Exceptions Report: 9/1/2026
Loan Information  Exception Information Initial Overall Grades Final Overall Grades Event Level
Loan Number Loan Number 2 Property State Purpose Occupancy Property Type DTI DSCR FICO LTV Note Original Balance Exception ID Exception Type Exception Description Exception Note Exception General Comment Compensating Factors Exception Status DBRS Fitch Moody's S&P DBRS Fitch Moody's S&P Grade
6000083321 XXXXXXXX XXXXXXXX Refi - Cash Out Non-Owner Occupied Single Family Detached 0   772 46.03 % XXXXXXXX 241572 Credit Debt Service Coverage Ratio The name of the Borrower on the Personal Guaranty Agreement "XXXX" does not match the Borrower on the Deed of Trust "XXXX". 6/24/22: Revised Guaranty needs to be re-signed by the borrower.  It appears that the document provided was a copy of the original Guaranty with the name of the LLC changed.  6/29/252: Same Guaranty was provided.  Needs to be resigned and dated by borrower with correct LLC name.   07/06/22: Documentation provided to cure.   Cleared Exception C C C C A A A A 1
6000083321 XXXXXXXX XXXXXXXX Refi - Cash Out Non-Owner Occupied Single Family Detached 0   772 46.03 % XXXXXXXX 241576 Credit Debt Service Coverage Ratio The Business Purpose Affidavit in the file is not notarized as required per guidelines. 06/29/22: Documentation provided to cure.   Cleared Exception C C C C A A A A 1
6000083321 XXXXXXXX XXXXXXXX Refi - Cash Out Non-Owner Occupied Single Family Detached 0   772 46.03 % XXXXXXXX 241625 Credit Credit Document discrepancy in file regarding whether the loan closed in the name of the borrower or the entity, XXXX.  The Deed reflects the borrower as the entity; however, the title commitment reflects the loan to close in the borrower's name.  In addition, section L2 (Title Information) of the final 1003 reflects the loan closing in the borrower's name.  Also, section L2 does not indicate how the title to the property is currently held.   6/24/22: Provide revised Title Commitment with Schedule B- Part I 6 & 7 showing the deed and mortgage to be in the name of XXXX.  07/06/22: Documentation provided to cure.   Cleared Exception C C C C A A A A 1
6000083363 XXXXXXXX XXXXXXXX Purchase Owner Occupied Condo Attached 33.4   696 90.00 % XXXXXXXX 246157 Credit Condo/PUD According to underwriting guidelines, and the condo reviews insturction via email dated XXXX, the underwriter must complete the XXXX Attached PUD/Condo Warranty form. Please provide the completed form. 08/18/22: Documentation provided to cure.   Cleared Exception C C C C B B B B 1
6000083363 XXXXXXXX XXXXXXXX Purchase Owner Occupied Condo Attached 33.4   696 90.00 % XXXXXXXX 246349 Credit Borrower Eligibilty The payment shock of XXXX% exceeds the guideline maximum of XXXX% for a first time homebuyer. 08/15/22: Per email in file, an exception approval was provided for the guideline deviation. DTI - The borrower has a 32.18% DTI Ratio. The maximum DTI ratio for the program is 45%. The DTI is below max by 5% or greater., Prior Housing History - The borrower has XXXX- month housing history.  Client Accepted C C C C B B B B 2
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