Exhibit 99.03 - Schedule 2

Conditions Report 2.0

Loans in Report:	178
Loans with Conditions:	69

Loan Number

Original Principal Balance

State

Initial Lender ATR/QM Status

Loan Level ATR/QM Status

Initial Securitization Overall Loan Grade

Final Securitization Overall Loan Grade

Initial Securitization Credit Loan Grade

Final Securitization Credit Loan Grade

Initial Securitization Property Valuations Loan Grade

Final Securitization Property Valuations Loan Grade

Initial Securitization Compliance Loan Grade

Final Securitization Compliance Loan Grade

Initial S&P Overall Loan Grade

Final S&P Overall Loan Grade

Initial S&P Credit Loan Grade

Final S&P Credit Loan Grade

Initial S&P Property Valuations Loan Grade

Final S&P Property Valuations Loan Grade

Initial S&P Compliance Loan Grade

Final S&P Compliance Loan Grade

Condition Category

Condition Sub Category

Condition Status

Initial Securitization Condition Grade

Final Securitization Condition Grade

Initial S&P Condition Grade

Final S&P Condition Grade

Condition Code

Condition Description

Condition Material Indicator

Initial Comments

Client/Seller Response Comments

Conclusion Comments

TRID Error Type

Cure Method

Compensating Factors

89368

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL191

Missing Mortgage

Provide signed Closing Package to include Signed/Notarized Mortgage to include applicable Rider(s).

3/31/26- Client uploaded closing package for review

Exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has lived at current residence for the past: 18 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $70,384.26. CTC $35,591.72;leaves reserves of $34,792.54 or 9.41 mos

89368

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL195

Missing Note

Provide signed Closing Package to include Signed Note to include applicable Addendum(s) & Guaranty.

3/31/26- Client uploaded closing package for review

Exception satisfied

(No Data)

Not Applicable

89369

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified cash reserves $179,689.84 or 101.30 months PITI, guidelines required 0 months PITI.

89370

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 736 exceeds min score requirement of 700.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 50.61% is below max LTV of 70%

89371

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Title

Satisfied

CRDTIL100

Potential title issue

Title commitment reflects a outstanding Construction loan in the amount of $XXX, without evidence by deed/ partial release from liability for the subject unit. VOM provided in file also reflects outstanding mortgage of $XXX and the payoff for the subject unit in file reflects a payoff of $425,025.

04/01/2026 client response: Document Uploaded. Title reviews all cross-collateralized liens before processing any partial payoff. Uploading email from Title from the cross-collateral lien confirming the partial release will satisfy the lien on title.04/01/2026 Clayton response: Document received is illegible. Please upload again.04/01/2026 client response: Document Uploaded. Title reviews all cross-collateralized liens before processing any partial payoff. Uploading email from Title from the cross-collateral lien confirming the partial release will satisfy the lien on title.04/01/2026 Clayton response: Document received is illegible. Most printed matter has been blackened out. Please upload again.04/01/2026 client provided Email from Title Re-Uploaded

04/01/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $70,384.26. CTC $26,805.19 leaves reserves of $43,579.07 or 11.84 mos. Reserves required 0 mos

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has resided in current residence for 18 years.

89371

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Title

Satisfied

CRDTIL875

Title Does Not Agree With Mortgage

Title commitment dated 1/16/2026 reflects proposed loan amount of $XXX The Note and Deed of Trust reflects a loan amount of $XXX.

03/27/2026 client provided Title Commitment

03/27/2026 exception satisfied

(No Data)

Not Applicable

89374

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1746: Significant housing expense reduction
- Clayton Comments: Payment reduction from $3,070.58 to $2,613.21 or 14.90%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 777 is > the minimum credit score of 730.

89379

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post-Closing Assets: $230,270.53/$3,325.14 PITI = 69.25-months reserves.

89380

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

LTV of 70% exceeds the maximum LTV of 65% for FN- FL non warrantable condo.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $87,760.47. CTC $84,762.93 leaves reserves of $2,997.54 or 1.35 mos. Reserves required 0 mos.

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrowers have owned current primary residence for 3 years.

89380

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Title

Satisfied

CRDTIL875

Title Does Not Agree With Mortgage

Title commitment reflects proposed insured as XXX & XXX with a proposed policy amount of $197,000. Mortgage Deed reflects borrower's names as XXX and XXX with a loan amount of $XXX.

4/2/26- Document Uploaded. Uploading updated title commitment reflecting correct loan amount. As for the names, these name variances are noted on the Signature Affidavit and AKA Statement within the closing docs. XXX is agreeable to this variation so long as it has been noted on this form.

Exception satisfied

(No Data)

Not Applicable

89381

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $57,010.81. CTC $0.00 leaves reserves of $57,010.81 or 24.19 mos.  Reserves required 0 mos.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 15 years.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 659 is > the minimum credit score of 640.

89382

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Waived

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

No score/Deficient tradelines missing 24mos 0x30 housing history.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified cash reserves $459,352.07. Required reserves $0.

89388

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Waived

CRDCRMH2662

Number of mortgaged properties exceeds guideline limit

With this refinanced loan, Borrower will have 4 REO with mortgages with this lender, all on Investment property. Guidelines limit maximum # of mortgages with the same Borrower at 4, and one must be on owner occupied property.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post Closing Assets: $214,634.48/$2,506.42 PITI = 85.63 months reserves.

CFCFS1736: Significant time at current residence
- Clayton Comments: B3 has occupied his primary residence for 5 years

89389

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has resided in current residence for 3 years.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments: Mortgage payment history exceeds guidelines since 5/2020.

89390

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Waived

CRDCRMH104

Credit score below guidelines

Per guideline Minimum FICO score for C/O Refinance under the DSCR program for Investment property is 600 for 60% LTV. Borrower was approved with credit score 588 which does not meet required FICO score requirement.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Borrower has an excellent mortgage payment history with 63 months reviewed reporting 0 late

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 52.38% is below max LTV of 60%.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 5 years.

89391

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score is 640, borrower's credit score is 661

CFCFS2854: Significant time in profession
- Clayton Comments: Borrower has been XXX and/or in current profession for over 11 years

89392

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $392,368.00. CTC $121,324.80 leaves reserves of $271,043.20 or 85.74 mos. Reserves required 0 mos.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 789 is > the minimum credit score of 700.

89393

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Title

Satisfied

CRDTIL875

Title Does Not Agree With Mortgage

Title Commitment dated 2/10/2026 reflects the proposed amount of insurance as $150,000. Note and Deed reflects a loan amount of $XXX.

4/6/26- Client uploaded corrected title

Exception satisfied

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage for Guarantors primary residence was reviewed for 31 months with 0x30.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $20,974.97. CTC $0.00 leaves reserves of $20,974.97 or 15.78 mos.  Reserves required 0 mos

CFCFS1736: Significant time at current residence
- Clayton Comments:  Guarantor has owned current primary residence for 13 years.

89395

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  799 qualifying score. Min required per guidelines is 730.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $293,034.91 or 57.65 months PITI, guidelines required 0 months PITI.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage payment history is for 27 months when 12 months are required.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current owner occupied residence for 14 years.

89396

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $165272 CTC $142,032.09 leaves reserves of $23,239.91 or 8.59 mos. Reserves required 0 mos.

89397

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post-Closing Assets: $94,783.18/$1,998.82 PITIA = 47.42-Months Reserves.

89398

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- Clayton Comments: 4 years and 8 months in current residence.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 816 FICO score. Minimum required 640.

89401

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments:  B2 has occupied the primary residence for 6 years 3 months

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  The HCLTV is 70% and guidelines allow the HCLTV to be 75%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  702 qualifying score. Min required per guidelines is 640.

89404

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

LTV/CLTV

Waived

CRDLTV5736

LTV Exceeds Guideline Requirement by less than 5%

LTV of 64.99% exceeds max allowable of 60% for a FN with declining value.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments: 5 years and 0 months in current residence.

89405

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has lived at current residence for the past: 5 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post Close Assets are $11,621.52 or 6.46 months of PITIA.

89406

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments: Significant time at current residence, 10 years.

89407

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments: Mortgage history reflects 0 x 30 for the past 39 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 766 exceeds min score requirement of 700.

89410

XXXXXX

(No Data)

ATR/QM: Exempt

89412

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Credit/Mtg History

Waived

CRDCRMH123

No evidence of required debt payoff

Missing documentation to support the payoff of XXX (creditor XXX) in the amount of $194.00. Lender exception approval provided.

4/7/26- Client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 55.26% is < the maximum LTV of 75%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $201,523.42. CTC $0.00 leaves reserves of $201,523.42 or 107.73 mos.  Reserves required 6 months for exception

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 673 is > the minimum credit score of 600.

89416

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

Corrected to LTV of 75% exceeds max LTV of 65% for No Ratio DSCR >1.0. Lender exception approval provided.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments: Significant time at current residence, 9 years 6 months.

CFCFS1739: Postive mortgage payment history
- Clayton Comments: Postive rental payment history 0x30x99+.

89419

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Waived

CRDCRMH2662

Number of mortgaged properties exceeds guideline limit

Per guidelines XXX may lend no more than 4 loans to the same borrower with one being owner occupied. borrower has 4 investment property loans with XXX. Lender approval in file.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score is 640, borrower's credit score is 731.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: Maximum LTV is 75%, subject's LTV is 70%.

89419

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Waived

CRDTER113

Loan amount is below guideline minimum

Non-Prime DSCR loans with Interest Only feature has a minimum loan amount of $XXX. Subject's loan amount is $XXX

client acknowledged exception

Final grade B

(No Data)

Not Applicable

90432

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS2854: Significant time in profession
- Clayton Comments: 26 years and 0 months in current profession.

89422

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: 716 qualifying score. Min required per guidelines is 700.

89424

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV 66.88% is below guideline requirements of 80%.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments: Borrower has mortgage payment history 0x30 since 2/2021.

89425

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

LTV/CLTV

Waived

CRDLTV5736

LTV Exceeds Guideline Requirement by less than 5%

LTV of 70.46% exceeds max LTV of 70% for DSCR < 1.0 on a R/T refi.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 748 exceeds min score requirement of 640.

CFCFS1739: Postive mortgage payment history
- Clayton Comments: Postive mortgage payment history 0x30x55.

89426

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has 6 years at primary residence.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  728 qualifying score. Min required per guidelines is 640.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 70%; max allowed per guidelines is 85%.

89427

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has owned current primary residence for 10 years and 8 months.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 65% is < the maximum LTV of 75%.

89429

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Assets

Waived

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Per guidelines for First Homebuyer, 6 months impounds are required. Per HUD there are no impounds. Lender exception noted in file.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $50,737.98 or 14.82 months PITI, guidelines required 6 months PITI.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 3 years.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  810 qualifying score. Min required per guidelines is 780.

89429

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Income/Employment

Waived

CRDINC888

Income Amount is Unsupported by Documentation in File

Per guidelines, First Time Homebuyer for DSCR requires 1.15. Subject DSCR 1.052. Lender exception noted in file.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

89432

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP130

Application is incomplete

Final signed 1003 reflects borrower as a XXX however; EAD was provided. Confirm XXX. Additional conditions may apply if borrower is a XXX.

04/17/2026 client provided updated final 1003 marking XXX and XXX results

04/17/2026 exception satisfied

(No Data)

Not Applicable

CFCFS2860: Good credit history
- Clayton Comments: Borrower has an excellent credit payment history with 96 months reviewed reporting 0 late payments.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 753 FICO score. Minimum required 720.

89432

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Terms/Guidelines

Satisfied

CRDTER146

Missing lender's loan approval/underwriting form

Missing ULAW from file for review.

04/17/2026 client provided ULAW

04/17/2026 exception satisfied

(No Data)

Not Applicable

89435

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments: The HCLTV is 65% and guidelines allow the HCLTV to be 75%

CFCFS1736: Significant time at current residence
- Clayton Comments: The borrower has occupied the primary residence for 20 years.

89436

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Cash back to the borrower represents 64 months of PITI reserves, none required.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage history reporting to credit is positive.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Loan LTV of 41.82% is less than the maximum LTV of 65%

89437

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR151

Appraisal dated beyond acceptable date range per guidelines

Appraisal effective date XXX which exceeds maximum allowable days of 120

04/10/2026 client provided corrected appraisal, initial had incorrect date.

04/10/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has owned current primary residence for 19 years and 11 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 801 is > the minimum credit score of 700.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 18.52% is < the maximum LTV of 60%

89438

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL100

Legal document incorrect or incomplete

Per guidelines, entity loans required automated payments. Missing ACH document pertaining to automated payments.

4/27/26- Client uploaded proof of ACH

Exception satisfied

(No Data)

Not Applicable

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage payment history is for 15 months when 12 months are required.

CFCFS1746: Significant housing expense reduction
- Clayton Comments:  Housing expense reduced from $2,864.74 to $2,184.19.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  712 qualifying score. Min required per guidelines is 700.

89438

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

LTV/CLTV

Waived

CRDLTV5736

LTV Exceeds Guideline Requirement by less than 5%

Per guidelines for rate and term refinance, maximum LTV is 75%. Subject LTV is 78.28%. Lender provided an exception.

4/27/26- Client acknowledged exception final grade B

Final grade B

(No Data)

Not Applicable

89439

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 60%; max allowed per guidelines is 70%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $36,589.24 or 24.38 months PITIA, guidelines required 0 months PITIA

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current owner occupied residence for 10 years.

89440

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Title

Waived

CRDTIL875

Title Does Not Agree With Mortgage

Title commitment dated 3/10/2026 reflects the proposed insured as XXX; Mortgage Deed reflects borrowers as XXX and XXX.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 756 is > the minimum credit score of 660.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $112,933.63. CTC $97,424.46, leaves reserves of $15,509.17 or 6.16 mos. Reserves required 0 mos.

89441

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 721 exceeds min score requirement of 660.

CFCFS1736: Significant time at current residence
- Clayton Comments: Significant time at current residence, 14 years.

89442

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments: The HCLTV is 65% and guidelines allow the HCLTV to be 75%

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post-Closing Assets: $145,986.05/$4,201.96 PITIA = 34.74 months reserves.

89443

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Terms/Guidelines

Waived

CRDTER4631

Loan parameters do not meet guidelines

DSCR 0.9933% is less than minimum of 1.0% for Platinum program. Lender approval in file.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score 798 exceeds guidelines 700.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments: Borrower has a 40 month satisfactory mortgage history

89446

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrower has 60 months mortgage payment history 0x30.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  693 mid score > min required of 600.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 70%; guidelines allow 75%.

89449

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 68.81% is < the maximum LTV of 75%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 782 is > the minimum credit score of 640

89450

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 780 FICO score. Minimum required 640.

CFCFS2860: Good credit history
- Clayton Comments: Borrower's have an excellent credit payment history with 99 months reviewed reporting 0 late payments.

89453

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments: Borrower has mortgage payment history 0x30 since 9/2010.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score 744 exceeds guidelines 730.

89456

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 779 FICO score. Minimum required 600.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 55.04% is below max LTV of 85%.

90433

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

Exception for LTV of 70% exceeds max LTV of 65% for DSCR <1.0. Lender exception approval provded.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  782 Credit score exceeds minimum guideline score of 640.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0x30x99.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 5 Years.

89457

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Terms/Guidelines

Satisfied

CRDTER146

Missing lender's loan approval/underwriting form

Missing lender's Underwriting Loan Approval Worksheet and Conditional Loan Approval for DSCR - No Ratio. Lender's DSCR calculation was annual income divided by monthly payment.

04/09/2026client response: Program is standard DSCR, not DSCR-No Ratio. Uploading ULAW and Approval for DSCR04/10/2026 client provided updated ULAW with comp factors.

04/09/2026 Clayton response: With Program being standard DSCR, provide lenders Underwriting Loan Approval Worksheet and Conditional Loan Approval with the correct DSCR calculation. 04/10/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: 774 qualifying score. Min required per guidelines is 640.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post-Closing Assets: $15,812.27/$2,732.52 PITIA = 5.79-months reserves

89458

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP157

Application Not Signed by Primary Borrower

Missing final signed 1003

05/07/2026 client provided final signed 1003

05/07/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments: Significant time at current residence, 6 years 10 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 717 exceeds min score requirement of 700.

89458

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Application

Satisfied

CRDAPP227

Application Not Signed by Co-Borrower

Missing final signed 1003

05/07/2026 client provided final signed 1003

05/07/2026 exception satisfied

(No Data)

Not Applicable

89459

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Insurance

Satisfied

CRDINSR3278

Hazard Insurance documentation in file is incomplete

Missing proof of HO6 Hazard insurance with XXX

04/14/2026 client provided HO6

04/14/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  Co-borrower has significant time at current residence, 6 years 2 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $563,576.35. Required reserves $0.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 810 exceeds min score requirement of 720.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 47.37% is below max LTV of 85%

89460

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

LTV 81.16% exceeds the maximum of 75%. Value $XXX based on purchase price $XXX XXX and cost of improvements $150,000 less than 6 months prior to Note date XXX.

05/01/2026 client provided updated ULAW with comp factors.05/01/2026 client acknowledged exception

05/01/2026 Clayton response: Upon further review by Clayton Sr Underwriter, exception considered non-material; Final Grade B. Comp Factors for Credit Score, mortgage payment history and Reserves.05/01/2026 Final grade B

(No Data)

Not Applicable

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage payment history is for 82 months when 24 months are required (escrow waiver).

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  806 qualifying score. Min required per guidelines is 730

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $263,747.18 or 118.30 months PITI, guidelines required 0 months PITI.

89463

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  806 qualifying score. Min required per guidelines is 780.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current owner occupied residence for 34 years and 6 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $55,876.36 or 7.67 months PITIA, guidelines required 0 months PITIA.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage payment history is for 99 months when 12 months are required.

89464

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 6 years 3 months.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Positive rental payment history 0x30x72.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0x30x116.

89466

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 759 exceeds min score requirement of 640.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Positive mortgage payment history 0X30X31.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $35,476.23. Required reserves $0.

89467

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score required is 730, borrower's credit score is 757.

89468

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 759 exceeds min score requirement of 720.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Actual LTV 80% / Max LTV 85%.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments:  Mortgage history reflects 0 x 30 for the past 30 months.

89469

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0X30X301.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 26 years 1 month.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Borrower has mortgage payment history 0x30 since 10/2012.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 63.29% is below max LTV of 75%

89470

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 65% is below max LTV of 75%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 745 exceeds min score requirement of 620.

89471

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  729 qualifying score. Min required per guidelines is 720.

CFCFS1735: Co-Borrower has significant time at current job
- Clayton Comments:  Co-Borrower has been XXX with XXX DBA XXX for 6 years and 11 months.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX with XXX DBA XXX for 6 years and 11 months.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current owner occupied residence for 8 years.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI is 2.25%, max per guidelines is 50.49%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $197,661.37 or 89.12 months PITI, guidelines required 0 months PITI.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage payment history is for 91 months when 12 months are required.

89472

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Credit/Mtg History

Waived

CRDCRMH2662

Number of mortgaged properties exceeds guideline limit

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS2860: Good credit history
- Clayton Comments: Good overall credit history.

89473

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage for the subject property has been reviewed for 90 months with 0x30.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 719 is > the minimum credit score of 620.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 62.44% is < the maximum LTV of 75%.

89475

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  719 mid score > min required of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $296,306.69. CTC $228,017.29. Leaves reserves of $68,289.40 or 19.31 mos.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 69.86%; guidelines allow 80%.

89478

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR171

Subject Photos Unacceptable

Appraisal in file is missing Subject photos

04/22/2026 client provided Appraisal.

04/22/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 740 FICO score. Minimum required 700.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 54.40% is below max LTV of 70%.

89478

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR101

Appraisal incomplete (missing map, layout, pages, etc)

Appraisal missing Map, layout,etc.

04/22/2026 client provided Appraisal.

04/22/2026 exception satisfied

(No Data)

Not Applicable

89478

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR167

Appraisal not Signed

Appraisal in file missing signature page.

04/22/2026 client provided Appraisal.

04/22/2026 exception satisfied

(No Data)

Not Applicable

89478

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR173

Comp Photos Unacceptable

Appraisal in file is missing Comp photos.

04/22/2026 client provided Appraisal.

04/22/2026 exception satisfied

(No Data)

Not Applicable

89478

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR284

Appraiser License Missing

Appraisal in file is missing Appraiser License.

04/22/2026 client provided Appraisal.

04/22/2026 exception satisfied

(No Data)

Not Applicable

89480

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage payment history exceeds guidelines 0x30x30.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0x30x183.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $22,671.53. Required reserves $0.

89481

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Credit/Mtg History

Satisfied

CRDCRMH149

Missing support docs for VOM/VOR (e.g. cancelled checks)

Missing complete mortgage payment history for XXX. Credit report reflects 2 payment with DLA of 10/7/2024. File contains 11 mortgage statements, missing mortgage statement dated 9/15/2025.

04/09/2026 client provided proof of 9/2025 payment04/09/2026 Clayton response: Condition was to provide 09/15/2025 statement, which would confirm payment date for August 2025 payment. Exception remains.04/09/2026 client provided proof August 2025 payment

04/09/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 689 is > the minimum credit score of 660.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments: Mortgage payment history for primary residence was reviewed for 51 months with 0x30.

89482

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments: Guarantor has owned current primary residence for 26 years.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 758 is > the minimum credit score of 700.

89483

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score required is 721, borrower's credit score is 801.

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has owned/resided at current residence for 27 years

89484

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 801 exceeds min score requirement of 730.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments:  Mortgage history reflects 0 x 30 for the past 38 months.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has lived at current residence for the past: 25 years.

89485

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Property

Waived

PRVAPROP177

Property Issues Indicated

Subject Condo is 1 of 4 units in this Project, and all four units are owned this same Borrower. Lender exception noted in file

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: 718 qualifying score. Min required per guidelines is 700

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified cash reserves $339,002.56 or 147.23 months PITIA, guidelines required 0 months PITIA.

89486

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR1939

Appraiser License for Incorrect State

Appraisal provided in credit file is for different property and borrowers.

04/10/2026 Client provided Appraisal

04/10/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 74.99%; max allowed per guidelines is 85%

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage payment history is for 46 months when 12 months are required.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $260,514.98 or 86.41 months PITIA, guidelines required 0 months PITIA.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  788 qualifying score. Min required per guidelines is 780.

89486

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

Appraisal

Satisfied

PRVAAPPR100

Missing Appraisal

Appraisal provided in credit file is for different property and borrowers.

04/10/2026 Client provided Appraisal

04/10/2026 exception satisfied

(No Data)

Not Applicable

89486

XXXXXX

(No Data)

ATR/QM: Exempt

Property Valuations

FEMA

Satisfied

PRVAFEMA858

Natural Disaster Area, no subsequent inspection (Individual & Public)

No inspection since the (09/20/2020) XXX Disaster- (XXX/XXX)

04/10/2026 Client provided Appraisal

04/10/2026 exception satisfied

(No Data)

Not Applicable

89487

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score required is 620, borrower's credit score is 743.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV 50% is below guideline requirements of 65%.

90434

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 676 FICO score. Minimum required 660.

CFCFS2860: Good credit history
- Clayton Comments: Borrower has an excellent credit payment history with 99 months reviewed reporting 0 late payments.

89489

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS2860: Good credit history
- Clayton Comments: Good credit history 0x30x213. (1 coll acct from 2021)

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 764 exceeds min score requirement of 730.

89490

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage history for current primary residence was reviewed for 29 months with 0x30.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $121,630.33. CTC $76,779.50 leaves reserves of $44,850.83 or 21.94 mos.  Reserves required 0 mos

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 779 is > the minimum credit score of 640.

89495

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments: Maximum LTV is 85%, subject's LTV is 79.98%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score required is 660, borrower's credit score is 784.

89498

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 782 FICO score. Minimum required 640.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 45.15% is below max LTV of 75%.

89499

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Borrower has mortgage payment history 0x30 since 11/2010.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified 752 FICO score. Minimum required 640.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $1,096,079.07 exceed guidelines $0.

89500

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV is 80%; guidelines allow 85%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: 770 mid score > min required of 600.

89502

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Insurance

Satisfied

CRDINSR848

Missing Hazard Insurance

Although master HOI is provided in credit, missing homeowner's insurance policy.

4/23/26- Missing HO6 Policy uploaded for review

Exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $17,891.69 or 8.51 months PITIA, guidelines required 0 months PITIA.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  720 qualifying score. Min required per guidelines is 736.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 4 years.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 55.94%; max allowed per guidelines is 75%.

89504

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV 70% is below guideline requirements of 75%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score 706 exceeds guidelines 640.

89505

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower has lived at the current residence for 5 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $229,627.24. CTC $175,810.68 eaves reserves of $53,816.56 or 17.9 months. No reserves required.

CFCFS2860: Good credit history
- Clayton Comments:  Credit history is positive.

90435

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 738 is > the minimum credit score of 640.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $56,571.56. CTC $21,357.48 leaves reserves of $35,214.08 or 13.31 mos.  Reserves required 0 mos.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Guarantor #1 has owned current primary residence for 12 years and 3 months.

89509

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

Provide updated valuation.

05/01/2026 clinet provided UCDP Submission Summary Report

05/01/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments: 8 years and 3 months in current residence.

90436

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Property

Satisfied

PRVAPROP177

Property Issues Indicated

Appraisal made subject to roof repairs, the 1004D provided states that the work has not been fully completed

06/11/2026 client provided 1004d showing work completed

06/11/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score required is 640, borrower's credit score is 712.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: Maximum LTV is 65% for DSCR <1.0, subject's LTV is 50.36%.

90437

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Application

Satisfied

CRDAPP3822

Missing or incomplete documentation related to citizenship/residency

Missing unexpired PRA ID and XXX/XXX.

06/09/2026 client provided XXX and XXX results.

06/09/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 2 years 3 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit Score of 688 exceeds min score requirement of 600.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  The HCLTV is 60% and guidelines allow the HCLTV to be 75%.

90438

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit Score of 666 exceeds min score requirement of 640.

CFCFS1739: Postive mortgage payment history
- Clayton Comments: No mortgage lates on credit report.

89518

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 681 exceeds min score requirement of 660.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments: Mortgage history reflects 0 x 30 for the past 41 months.

90439

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage payment history is for 41 months when 12 months are required.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 31.25%; max allowed per guidelines is 80%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  747 qualifying score. Min required per guidelines is 740.

90440

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0X1X84.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments:  Borrower does not have any major mortgage related occurrences during the past two years

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  44 month mortgage payment history of 0x30 exceeds guideline of 12 months @ 0x30x..

90441

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 45.45 is below max of 70%.

CFCFS1736: Significant time at current residence
- Clayton Comments: 12 years of primary.

90442

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Credit/Mtg History

Waived

CRDCRMH2662

Number of mortgaged properties exceeds guideline limit

Missing Exception Approval - number of mortgaged properties (69 exceeds guideline limit (20).

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 742 exceeds min score requirement of 730.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Actual LTV 59.81% / Max LTV 80%.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments:  Mortgage history reflects 0 x 30 for the past 78 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Post Close Assets are $277,526.66 or 39.89 months of PITI.

90443

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Application

Satisfied

CRDAPP131

Occupancy status not supported by file documentation

Loan was submitted as a Purchase of an Investor property. The file contains a Business Purpose Loan Certification and Attestation. The Flood Insurance Application contains a Statement of Primary Residence Status which reflects that the subject property will be the borrower's primary residence with more than 50 percent of the 365 days following the policy effective date.

06/22/2026 client provided corrected flood policy.

06/22/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 52.94% is < the maximum LTV of 85%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 815 is > the minimum credit score of 640.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has owned current primary residence for 35 years.

90444

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 789 exceeds min score requirement of 600.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments:  Mortgage history reflects 0 x 30 for the past 82 months.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Actual LTV 48.44% / Max LTV 75%.

90448

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $529,382.16. CTC $219,118.12 leaves reserves of $310,264.04 or 56.19 mos.  Reserves required 3 mos. for pricing exception

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 21.51 is < the maximum DTI of 50%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 709 is > the minimum credit score of 660.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage payment history reviewed for 23 months with 0x30.

90450

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrowers have lived at the current residence for 8 years

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage history reporting to credit is positive.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $77,443.94. None required

90655

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has lived at current residence for 30 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified cash reserves $1,061,123.78 exceed guidelines $0.

90451

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS2860: Good credit history
- Clayton Comments: Borrower has an excellent credit payment history with 99 months reviewed reporting 0 late payments.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Verified 668 FICO score. Minimum required 660.

90452

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 80%; max allowed per guidelines is 85%.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0X30X29.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $215,947.37. Required reserves $0.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 9 years

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0X30X168.

90453

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Income/Employment

Waived

CRDINC3204

Income Documentation Missing

Subject property is a Short Term Refinance, Missing 12-month Ledgers from XXX, property managers, XXX, XXX, XXX as documentation for actual rents and three months receipt of STR. File contains a STR rental listing only. Conditional Approval reflects Lender exception approval.

6/17/26- Client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 721 is > the minimum credit score of 640.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 60% is < the maximum LTV of 70%.

90453

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Title

Satisfied

CRDTIL875

Title Does Not Agree With Mortgage

Title Commitment dated 5/5/2026 reflects the proposed amount of insurance as $250,000; The Note and Deed of Trust reflects loan amount of $XXX.

07/01/2026 client provided updated Title Commitment

07/01/2026 exception satisfied

(No Data)

Not Applicable

90454

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Credit

Legal Documents

Satisfied

CRDLGL1819

Estimated HUD-1 in File, Missing Final HUD-1

Provide missing final HUD-1.

06/23/2026 client provided Final Settlement Statement

06/23/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified 657 FICO score. Minimum required 640.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 29 years.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 48.44% is below max LTV of 75%.

90454

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

Property Valuations

Appraisal

Waived

PRVAAPPR4789

Appraisal Deficiency

Subject is classified as a 2 unit condo however; appraisal completed on a 1025. Lender exception approval provided.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

90455

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

LTV of 80% exceed maximum LTV of 75% with DSCR score <1%. Lender exception approval provided.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Current mortgage history for primary residence was reviewed for 31 months with 0x30.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 9 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $125,720.35. CTC $112,119.88 leaves reserves of $13,600.47 or 4.19 mos.  Reserves required 0 mos.

90456

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS2860: Good credit history
- Clayton Comments:  Credit history is positive.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $499,583.69. CTC $323,897.12 leaves reserves of $175,686.57 or 21.5 months. No reserves required.

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower has lived at the current residence for 12 years

90457

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments: All current and prior mortgages paid as agreed with 0x30.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 794 is > the minimum credit score of 700.

90458

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post Close Assets are $233,719.30 or 41.05 months of PITIA.

90459

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Assets

Satisfied

CRDAST2354

Asset Verification In File is Incomplete Per Requirements

Provide documentation to support EMD $82,000 was cleared through borrowers account.

06/24/2026 client provided front of EMD check which is acceptable per GL 8.6

06/24/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $73,114.69 exceed guidelines $0.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 729 exceeds guidelines 700.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has resided in current residence for 4 years.

90459

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Terms/Guidelines

Satisfied

CRDTER146

Missing lender's loan approval/underwriting form

Provide a legible Conditional Loan Approval & Underwriting Loan Approval Worksheet.

06/23/2026 client provided Approval & ULAW

06/23/2026 exception satisfied

(No Data)

Not Applicable

90460

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS2860: Good credit history
- Clayton Comments: Good Overall credit

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has resided in current residence for 17 years.

90461

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments: Borrower has mortgage payment history 0x30 since 6/2020.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score 759 exceeds guidelines 640.

90656

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $221,459.79 exceed guidelines of $0.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  793 Credit score exceeds min guideline score of 640.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 7 years.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0x3084.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0x30x215.

90465

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 745 exceeds min score requirement of 640.

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments:  Mortgage history reflects 0 x 30 for the past 99 months.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 60% is below guideline requirements of 75%.

90466

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 60% is < the maximum LTV of 80%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $217,069.54. CTC $199,419.01 leaves reserves of $17,650.53 or 6.05 mos.  Reserves required 0 mos.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 772 is > the minimum credit score of 600.

90467

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrower has resided in current residence for 7 years.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 70% is below max LTV of 75%.

90468

XXXXXX

(No Data)

ATR/QM: Exempt

N/A

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: 760 mid score > min required of 600.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Borrower has significant reserves of 34.12/mo. that exceed guidelines.

90470

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1736: Significant time at current residence
- Clayton Comments: 5 years and 0 months in current residence.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified cash reserves $129,574 exceed guidelines $0.

90657

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Title

Satisfied

CRDTIL875

Title Does Not Agree With Mortgage

Title commitment reflects proposed amount of $XXX; Note and Deed reflects loan amount of $XXX

06/29/2026 client provided corrected title commitment

06/29/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 62.04 is < the maximum LTV of 75%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $293,645.12 CTC $259,809.40 leaves reserves of $33,835.72 or 10.22 mos.  Reserves required 0 mos.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Minimum credit score required is 640, borrower's credit score is 803.

90471

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Terms/Guidelines

Waived

CRDTER4631

Loan parameters do not meet guidelines

DSCR score of .8529 is < the minimum of 1% for Non Warrantable Condo.

6/18/26- Uploading updated ULAW with comp factors 6/18/26- Sr Underwriter reviewed and deem non-material 724 credit score, low LTV, C3 condition rating6/19/26- Client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $114,762.43. CTC $60,440.12 leaves reserves of $54,322.31 or 29.99 mos. Reserves required 0 mos.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score of 724 is > the minimum credit score of 640.

90472

XXXXXX

(No Data)

ATR/QM: Exempt

Credit

Application

Satisfied

CRDAPP157

Application Not Signed by Primary Borrower

Missing final signed 1003.

7/8/26- signed 1003 uploaded for review

Exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $400,997.29. CTC $196,452.74 leaves reserves of $204,544.55 or 65.99 mos.  Reserves required 0 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 777 is > the minimum credit score of 700.

CFCFS1736: Significant time at current residence
- Clayton Comments:  3 years and 9 months in current residence

89519

XXXXXX

(No Data)

ATR/QM: Exempt

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 57.35% is below max LTV of 75%

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0X30X58.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 7 years 10 months.

89522

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

LTV 75% exceeds the maximum of 70% for cash out refinance with loan amount > $XXX and 673 score. Lender approval in file.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS2854: Significant time in profession
- Clayton Comments: 15 years and 0 months in current profession.

CFCFS1736: Significant time at current residence
- Clayton Comments: 6 years and 0 months at current residence.

89524

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3670

TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation

Zero tolerance of $478 due to Lender Credits, fee decreased with no/valid reason in file. Provide COC reflecting valid reason for the fee changes or PCCD with cure, copy of cure check, LOE to borrower and evidence of delivery via method including tracking information within 60 days of discovery.

3.17.26-Client provided COC 1/23/26 showing reason for Lender Credit decrease.

3.17.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  The borrower has been XXX for 12 years

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $116,072.22 exceed guidelines. No reserves required.

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower lived at the departing residence for 9 years

89524

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Credit/Mtg History

Waived

CRDCRMH193

Length of mortgage/rental history in file does not meet guideline requirement

Missing 12 months mortgage payment history from departure residence on XXX

client acknowledged exception

Final grade B

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Documentation

Satisfied

CMPDOC191

Missing Mortgage

Provide signed/notarized Mortgage to include applicable riders. Include signed Closing Package.

4.3.26-Client provided signed Closing Package, including signed/notarized Mortgage.

4.3.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Minimum credit score 640, borrower's credit score is 725

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Maximum LTV is 70%, subject's LTV is 64.10%

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  Maximum DTI is 50.49%, borrower's DTI is 45.61%

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Documentation

Satisfied

CMPDOC195

Missing Note

Provide signed Note to include applicable addendum. Include signed Closing Package.

4.3.26-Client provided signed Closing Package, including signed Note.

4.3.26-Exception Satisfied.

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Right of Rescission

Satisfied

CMPROR2043

Cannot determine if funding date is after rescission period

Provide Right of Rescission form. Include signed Closing Package.

4.3.26-Client provided signed Closing Package, including ROR Form.

4.3.26-Exception Satisfied.

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Right of Rescission

Satisfied

CMPROR5345

ROR - Missing or Incomplete Right of Rescission form

Provide Right of Rescission form. Include signed Closing Package.

4.3.26-Client provided signed Closing Package, including ROR Form.

4.3.26-Exception Satisfied.

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3618

TRID - Corrected CD should have been provided; Change of Product or Product Feature not disclosed at least 3 business days prior to closing

Provide signed Closing Package.

4.3.26-Client provided signed Closing Package.

4.3.26-Exception Satisfied.

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3670

TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation

Zero percent tolerance fail of $45. Due to Broker fee increased with no/invalid COC in file. Provide COC reflecting valid reason for the fee changes within 3 business days of change -OR- PCCD with cure, copy of cure check, LOE to Borrower and Evidence of delivery via method including tracking information within 60 days of discovery/ consummation.Provide signed Closing Package.

4.3.26-Client provided COC 3/10/26 stating Broker Fee increase due to loan amount increase.

4.3.26-Exception Satisfied.

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Application

Satisfied

CRDAPP157

Application Not Signed by Primary Borrower

Missing final signed 1003 for borrower

04/03/2026 client provided Signed Final 1003

04/03/2026 exception satisfied

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Application

Satisfied

CRDAPP227

Application Not Signed by Co-Borrower

Missing final signed 1003 for co-borrower.

04/03/2026 client provided Signed Final 1003

04/03/2026 exception satisfied

(No Data)

Not Applicable

89525

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC2412

Income documents in file are not for consecutive years

Missing January 2026 statement for XXX account ending XXX, to complete full 12 month consecutive bank statement income requirement.

04/02/2026 client provided Jan 2026 statemen

04/02/2026 exception satisfied

(No Data)

Not Applicable

89526

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Actual LTV 80% / Max LTV 90%.

CFCFS1735: Co-Borrower has significant time at current job
- Clayton Comments:  Co-Borrower has been with employer in the past: 5 years

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 762 exceeds min score requirement of 700.

89528

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified not used for income $2,207,749.52. None required.

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower has lived at the current residence for 28 years

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Loan LTV 16.33%, Max 65%

89532

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Right of Rescission

Waived

CMPROR115

ROR - date changes must be acknowledged/initialed by borrower

ROR changes to the transaction and cancel dates were not initialed by the borrower.

3.31.26-Client requested to change the Status from Open/Active to Waive/Closed.

3.31.26-Final grade B.

(No Data)

Not Applicable

CFCFS2854: Significant time in profession
- Clayton Comments: 8 years and 0 months in current profession.

CFCFS1736: Significant time at current residence
- Clayton Comments: 2 years and 4 months in current residence.

89535

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

DTI

Waived

CRDDTI187

Debt Ratio > 50%

DTI 53.10% exceeds the maximum allowed of 50.49%. Lender approval in file for DTI at maximum of 53%.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score 620, borrower's credit score is 706

CFCFS1737: LTV below guideline requirements
- Clayton Comments: Maximum LTV is 85%, subject's LTV is 70%

89537

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  747 qualifying score. Min required per guidelines is 640.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  The borrower has been XXX for 12 years 4 months.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI is 26.82%, max per guidelines is 50%.

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower has occupied the subject property for 5 years 6 months.

CFCFS1746: Significant housing expense reduction
- Clayton Comments:  Paid off a private mortgage which required a payment of $2,200.00 monthly + TI of $396.62 = $2,596.62 - $1,958.12 new PITI payment = $638.50 housing expense savings

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV is 70%; max allowed per guidelines is 80%.

89539

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS3834: Borrower does not have any major mortgage related occurrences during the past two years
- Clayton Comments:  No Mortgage lates 0x30 24 months

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 70% is below max LTV of 80%

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 33.70% is below max DTI of 50.49%.

89540

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has 5 years at current primary

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 54.67% is below guideline requirements of 70%.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has 7 years at current job.

89541

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Assets

Waived

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Verified assets $35,085.28, cash to close $25,987.20 with reserves $9,098.08. Required reserves $12,367.04. Lender exception to waived reserve requirements with DTI less than 20%.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments: 3 years and 2 months in current residence.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Min credit score required 700. File credit score 719.

89542

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2860: Good credit history
- Clayton Comments:  Credit history is positive

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $42,368.51 exceed guidelines $9,987.82.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  The borrower has been XXX for 6 years

89543

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Compliance Manual

Satisfied

CMPMAN2956

Missing disclosure

Provide Application Authorization Document.

04/09/2026 client provided Application Authorization

04/09/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower's have resided at departure residence for 11.10 years

CFCFS2854: Significant time in profession
- Clayton Comments:  Borrower has been in current profession for 21 years

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Minimum credit score 680, borrower's credit score is 697

89543

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

DTI

Waived

CRDDTI187

Debt Ratio > 50%

DTI of 51.32% exceeds max allowable. Lender exception approval provided.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

89544

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Provide proof of receipt for Final LE issued 3/18/2026.

4.6.26-Client provided Final LE issued & e-Signed 3/18/26.

4.6.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $6,606.99 exceed guidelines $0.

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower has lived at the current residence for 3 years

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  The borrower has been working for the same employer for 3 years

89545

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2854: Significant time in profession
- Clayton Comments: 10 years and 1 months in current profession.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV 70% is below guideline requirements of 75%.

89546

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1736: Significant time at current residence
- Clayton Comments: Borrowers rented prior residence for 10 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified cash reserves $11,126 exceed guidelines $0.

89547

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1734: Borrower has significant time at current job
- Clayton Comments: Borrower has 5.3 years at job.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV of 48% is below max 80%.

89549

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 44.80% is < the maximum DTI of 50%

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $302,949.06. CTC $242,478.69 leaves reserves of $60,470.37 or 34.18 mos.  Reserves required 3 mos.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 721 is > the minimum credit score of 640.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 80% is < the maximum LTV of 90%.

89550

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Right of Rescission

Waived

CMPROR117

ROR - Expiration date on form prior to end of rescission period

ROR expiration date of XXX is prior to end of earliest rescission date allowable of XXX.

4.27.26-Client requested to change the Status from Open/Active to Waive/Closed.

4.27.26-Final Grade B.

(No Data)

Not Applicable

CFCFS2854: Significant time in profession
- Clayton Comments:  Borrower has been in this line of work in the past: 20 years.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 761 exceeds min score requirement of 700.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has lived at current residence for the past: 23 years.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Actual LTV 51.95% / Max LTV 80%.

89550

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Application

Satisfied

CRDAPP130

Application is incomplete

Provide Application Authorization Document.

4.27.26-Client provided Application Authorization Document.

4.27.26-Exception Satisfied.

(No Data)

Not Applicable

89551

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 47.40% is < the maximum LTV of 80%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 761 is > the minimum credit score of 600.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage payment history for primary residence was reviewed for 66 months with 0x30.

89552

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2860: Good credit history
- Clayton Comments:  Borrower has an excellent credit payment history with 99 months reviewed reporting 0 late payments.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX for over 5 years

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified 715 FICO score. Minimum required 660.

89556

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3626

TRID - CD: Loan consummated before end of waiting period

Provide proof of receipt for Initial CD issued 3/25/26 at least 3 business days prior to closing.

4.8.26-Client provided Initial CD issued & e-signed 3/25/26.

4.8.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage history for current primary residence was reviewed for 81 months with 0x30.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $543,058.45. CTC $285,558.97 leaves reserves of $257,499.48 or 25.71 mos.  Reserves required 6 mos.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower's have owned current primary residence for 9 years and 11 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 783 is > the minimum credit score of 700.

90477

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC2488

Verbal verification of employment missing

Missing CPA/PTIN letter for both borrowers to verify XXX.

06/23/2026 client provided CPA letter and CPA validation

06/23/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 38.43% is below max DTI of 50.49%

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has been at current residence for over 15 years

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 50% is below max LTV of 75%

89558

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 19.15% is below guideline requirement of 40%.

CFCFS2854: Significant time in profession
- Clayton Comments:  13 years and 0 months in current profession.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Min credit score required 700. File credit score 805

89559

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1739: Postive mortgage payment history
- Clayton Comments: Postive rental payment history 0x30x21.

CFCFS2860: Good credit history
- Clayton Comments: Good credit history 1x30x123.

89560

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS2860: Good credit history
- Clayton Comments:  Excellent credit history with no late payments in 24 months

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score 773 exceeds guidelines 660.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI 20.44% is below guideline requirement of 50%.

89561

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI of 19.30% IS BELOW MAX OF 40%.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has 19 years at current primary.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has 20 years at current job.

89562

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

DTI

Waived

CRDDTI187

Debt Ratio > 50%

Max DTI per guidelines is 50.49%. After adding verified escrows for b2 primary HELOC DTI went to 54.14%. Verified PITIA $3,464.86. Lender had $2506.39.

4/27/26- Document Uploaded. Due to system issues, UW added the HELOC payment to the TIA. Did a workaround to correct it and the DTI is under 50%. Uploading TIA info and updated ULAW.4/27/26- HOA doc uploaded is not accurate. Actual verified pymt history located in file confirmed total mthly HOA pg 383 for 114 Surrey $1434.41. Tax bill in file pg 381 - $12,126.58/12= $1,010.55 mthly . Haz- $737.19/12= $61.43 mthly combined TIA $2,506.39 + P&I of $958.47= $3464.864/27/26- Uploaded ULAW with exception approval citing comp factors of 776 FICO, no neg credit, excellent mtg rating, & very low DOM. 4/28/26- Client acknowledged exception

Exception REGRADES L2Final Grade B

(No Data)

Not Applicable

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  Borrower has 0x30 for 332 months.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  776 mid score > min required of 600.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrower has 60 months mortgage payment history 0x30.

89564

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1736: Significant time at current residence
- Clayton Comments: 7 years and 1 months in current residence.

CFCFS2854: Significant time in profession
- Clayton Comments: 11 years and 2 months in current profession.

89565

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Application

Satisfied

CRDAPP130

Application is incomplete

Provide Application Authorization Document.

04/17/2026 client provided Application Authorization

04/17/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Assets verified at $178,969.91 less cash from $57,184.98 equals $121,784.93 or 21.81 months PITIA

CFCFS2854: Significant time in profession
- Clayton Comments:  6 years and 1 months in current profession.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower credit score of 784 exceeds min score requirement of 700.

89566

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1736: Significant time at current residence
- Clayton Comments: 5 years and 0 months at current residence.

CFCFS2854: Significant time in profession
- Clayton Comments: 8 years and 0 months in current profession.

90658

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Terms/Guidelines

Waived

CRDTER110

Loan amount exceeds guideline maximum

Loan Amount of $XXX exceeds Guidelines maximum Loan Amount of $XXX. Lender acknowledged the exception.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 6 years.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX for 10 years 10 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $1,022,468.57. Required reserves $200,221.74

90479

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

DTI

Satisfied

CRDDTI2540

Missing verification of some or all components of non-subject PITI

Missing verification of HOA dues for XXX

6/18/26- Per XXX this is not a PUD or condo, SFR no HOA dues. No indication of any HOA dues in file.

Exception satisfied

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX for 38 years.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0x30x419.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0x30x26.

CFCFS1735: Co-Borrower has significant time at current job
- Clayton Comments:  Co-Borrower 1 has significant time at current job, 8 years 4 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $1,373,285.96. Required reserves $0.

89570

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

DTI

Satisfied

CRDDTI2540

Missing verification of some or all components of non-subject PITI

Missing verification of HOA for REO on XXX of $625 as stated on final 1003.

04/24/2026 client provided XXX and XXX that showed the annual HOA dues to be $50.

04/24/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  The borrower has been XXX for 3 years

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage history reporting to credit is positive.

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower has lived with the current residence for 2 years

89570

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC3204

Income Documentation Missing

Provide verification XXX statements in file are associated with REO on XXX.

04/24/2026 client provided statement showing that XXX on the statements is one and the same as XXX.

04/24/2026 exception satisfied

(No Data)

Not Applicable

89572

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Borrower credit score of 734 exceeds min score requirement of 700.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified cash reserves $29,793.49. Required reserves $28,124.22.

90480

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Mortgage history reporting to credit is positive.

CFCFS1736: Significant time at current residence
- Clayton Comments:  The borrower has lived at the current residence for 8 years

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 52.89% is below guideline requirements of 80%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $419,098.68. CTC $336,702.93 leaves reserves of $82,395.45 or 20.6 months. No Reserves required.

90482

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX at current job for 10 years.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV 68.28% is below guideline requirements of 85%.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $66,792.43 exceed guidelines $0.

90483

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has 5 years at current job.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score of 756 EXCEEDS MIN 660.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has 14 years at primary residence.

90485

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

TILA/RESPA Integrated Disclosure

Satisfied

CMPTRID3670

TRID - Zero tolerance fee or fees increased at or prior to closing without a valid reason or not timely disclosed; refund required within 60 days of consummation

Zero tolerance of $159.30 due to Broker fee $135 increased & Lender Credit $24.30 decreased with no valid reason in file. Provide COC reflecting valid reason for the fee changes or PCCD with cure, copy of cure check, LOE to borrower and evidence of delivery via method including tracking information within 60 days of discovery.

6.18.26-Client provided COC 6/5/26 stating reason for increase in Loan Discount & Broker Fee.

6.18.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Maximum LTV is 85.00%, subject's LTV is 74.43%.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  Maximum DTI is 50.49%, borrower's DTI is 44.49%.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Minimum credit score required is 640, borrower's credit score is 724.

89575

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX for 11 years 7 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $545,415.05 exceed guidelines $0.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Positive mortgage payment history 0X30X34.

90487

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Right of Rescission

Satisfied

CMPROR2330

ROR - Disbursement date is before end of statutory rescission period

ROR Expiration date of XXX; disbursement date per Final CD indicate loan disbursed date of XXX. Borrower did not receive full mandatory rescission period prior to disbursement of funds.

7.24.26-Client provided New NORTCs to all entitled to rescind to re-open rescission & proof of delivery.

7.24.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 29 years 5 months.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0x30x99+.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0x30x153.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  57.37% LTV is below max guideline requirement of 80%.

90489

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Compliance Manual

Satisfied

CMPMAN2956

Missing disclosure

Provide Application Authorization Document.

6.18.26-Client provided Application Authorization Document.

6.18.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Total assets verified $182,645.23. CTC $98,558.71 leaves reserves of $84,086.52 or 24.35 mos. Reserves required 3 mos.

CFCFS2860: Good credit history
- Clayton Comments: Borrower has a good credit payment history with 99 months reviewed reporting 5 late payments.

90489

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Credit/Mtg History

Waived

CRDCRMH104

Credit score below guidelines

Per guidelines for Properties located in Rural areas minimum FICO score 680. Borrower per credit report qualifying score is 647.

6/18/26- Client acknowledged exception

Final grade B

(No Data)

Not Applicable

90492

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified 668 FICO score. Minimum required 640.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 42.31% is below max LTV of 85%.

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrower has mortgage payment history 0x30 since 12/2010.

90493

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV of 84.99% is below max LTV of 90%.

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI is 23.76%, max per guidelines is 50%.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX for 9 years.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Verified 745 FICO score. Minimum required 700.

90495

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Compliance Manual

Satisfied

CMPMAN2956

Missing disclosure

Provide Application Authorization Document.

6.12.26-Client provided Application Authorization Document.

6.12.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 10 years 1 month.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  808 Credit score exceeds minimum guideline score of 700.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0X30X142.

90496

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Waived

CRDINC2496

Verbal verification of employment completed outside the stated requirements and/or after closing/funding

Missing name/signature/date/title of verifiyer

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has significant time at current job, 10 years 7 months.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Postive mortgage payment history 0x30x50.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  763 Credit score exceeds minimum guideline score of 700.

CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence, 6 years 2 months.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit history 0x30x221.

90497

XXXXXX

ATR Risk: Non-QM - Lender did not document all ATR UW factors

Non-QM: Lender documented all ATR UW factors

Credit

LTV/CLTV

Waived

CRDLTV3026

LTV Exceeds Guideline Requirement by at least 5%, but less than 10%

LTV 75% exceeds the maximum of 70% for FTHB. Lender approval in file.

6/18/26- Client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- Clayton Comments: DTI of 9.77% IS BELOW MAX 43%.

CFCFS2854: Significant time in profession
- Clayton Comments: Borrower has 10 years at profession.

90498

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC2408

Income verification does not meet guidelines

Missing verification of two year XXX. CPA letter did not state how long borrower has been XXX.

6/15/26- CPA letter with years XXX provided

Exception satisfied

(No Data)

Not Applicable

CFCFS2854: Significant time in profession
- Clayton Comments: 3 years and 0 months in current profession.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Min credit score required 700. File credit score 741

90499

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments: Maximum DTI is 43%, borrower's DTI is 38.68%

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Verified Assets $213,442.24 - $137,911.86 = $75,530.38 or 22.43 months reserves

90500

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments: Maximum DTI is 50.49%, Review DTI 46.73%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Minimum credit score required is 640, borrower's credit score is 794.

90501

XXXXXX

Non-QM: Lender documented all ATR UW factors

Property Valuations

Appraisal

Satisfied

PRVAAPPR3116

Missing updated valuation

Missing third party valuation as required.

06/23/2026 client provided UCDP Submission Summary Report

06/23/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: Credit score 743 exceeds guidelines 660.

CFCFS1736: Significant time at current residence
- Clayton Comments: B1 has lived at current residence for 4 years.

90502

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Income/Employment

Satisfied

CRDINC2488

Verbal verification of employment missing

Missing Verbal VOE's for both borrowers.

07/14/2026 client provided VVOEs

07/14/2026 exception satisfied

(No Data)

Not Applicable

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has 10 years at current job.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Total assets verified $492,146.08. CTC $152,698.48 leaves reserves of $339,447.60 or 66.63 mos.  Reserves required 3 mos.

CFCFS1735: Co-Borrower has significant time at current job
- Clayton Comments:  Co borrower has 15 years at current job.

90503

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI is 7.16%, max per guidelines is 50.49%.

CFCFS1734: Borrower has significant time at current job
- Clayton Comments:  Borrower has been XXX with XXX for 17 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Verified cash reserves $60,763.47 or 13.14 months PITI, guidelines required 6 months PITI.

90504

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

Assets

Waived

CRDAST3078

Insufficient # of months cash reserves for PITI per guideline requirements

Total assets verified $260,032.27. CTC $214,027.31 leaves reserves of $46,794.96 or 3.60 mos. Reserves required 6 mos.

client acknowledged exception

Final grade B

(No Data)

Not Applicable

CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI is 45.21%, max per guidelines is 50%.

CFCFS2860: Good credit history
- Clayton Comments:  Good credit no lates credit report.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit Score of 756 exceeds min score requirement of 700

90506

XXXXXX

Non-QM: Lender documented all ATR UW factors

Credit

DTI

Satisfied

CRDDTI187

Debt Ratio > 50%

DTI: 59.58% Variance driven by overstated bank statement income. Lender included inter-account transfers (savings), resulting in double counting. Reviewer excluded transfers, reducing income from $6,904.43 to $4,202.55 and increasing DTI.

6/22/26- Client uploaded corrected Bank stmt Analysis6/22/26- Client is using May 2025 Bank stmt in review however may 2026 which reflects less deposits was provided for review. We cannot ignore the most recent stmt. We have an income variance of $1515.10. Based on the bank stmt Analysis alone is only $544.10. Where is the other income coming from? There is not really a variance on the other Bank stmt Analysis in file. XXX was the only one in question. No other documented income was provided. DTI remains 59.58%6/23/26-Updated LAW and corrected Bank stmt Analysis provided for review6/23/26- Unable to source additional income $2086.32 as nothing was provided. Lender qualifying income total on ULAW $14,640. Bank stmt Analysis provided reflects : XXX $3513.13 + XXX $9,040.55= $12,553.68. Where is the additional income coming from? 6/24/26- Client uploaded lease agreements for subject property resulting in lower DTI to 51.49% Gross rental income from subject property $2,087. Gives a combined total income of $15,356.90.

6/24/26 Exception satisfied

(No Data)

Not Applicable

CFCFS1737: LTV below guideline requirements
- Clayton Comments: LTV is 85%, max per guidelines is 90%

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments: FICO is 767, min per 700

90507

XXXXXX

Non-QM: Lender documented all ATR UW factors

Compliance

Compliance Manual

Satisfied

CMPMAN2956

Missing disclosure

Provide Application Authorization Document.

5.22.26-Client provided Application Authorization Document.

5.22.26-Exception Satisfied.

(No Data)

Not Applicable

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments: Post-Closing Assets: $67,499.10 - $16,382.28 required reserves = $51,116.82/$5,460.86 PITI = 9.36 additional months reserves.

CFCFS1737: LTV below guideline requirements
- Clayton Comments: The HCLTV is 80% and guidelines allow the HCLTV to be 90%

90508

XXXXXX

Non-QM: Lender documented all ATR UW factors

CFCFS1744: DTI below guideline requirement
- Clayton Comments: DTI 25.44% is below guideline requirement of 40% for pricing exception.

CFCFS1736: Significant time at current residence
- Clayton Comments: 7 years and 0 months in current residence.