MFRA NQM DEPOSITOR, LLC ABS-15G

Exhibit 99.05 - Schedule 2

 

 

Exception Detail
Run Date - 09/03/2026 9:39:19 AM
Evolve Loan ID Customer Loan ID Seller Loan ID Loan Exception ID Exception ID Exception Date Exception Type Exception Category Exception Subcategory Exception Exception Detail Exception Information Exception Remediation Compensating Factors Follow-up Comments Cleared Date Cured Date Waived Date Exception Level Grade Exception Level Rating Note Date Property State Occupancy Purpose Overall Initial Loan Grade Overall Final Loan Grade Credit Initial Loan Grade Credit Final Loan Grade Compliance Initial Loan Grade Compliance Final Loan Grade Property Initial Loan Grade Property Final Loan Grade Originator QM ATR Status TPR QM ATR Status Is Curable
1686269 XXXXXXXXX XXXXXXXXXXXXX 8010632 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Provide an appraisal review or secondary valuation in accordance with guidelines. XXXXX the initial appraisal was provided. FNMA XXXXX XXX score X     02/04/2026     A 1 XXXXXXXXXX GA 1 13 C   B   C   B   A   A   C   A     Non-QM 1
1686269 XXXXXXXXX XXXXXXXXXXXXX 8010768 322 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit - Minimum FICO   The XXXXXXXXXXX XXXXX XXXXXX XXXX is less than the XXXX XXXXXXXX XXXXX required for XXXXXX XXXXXXXX XXXXXXXXXXX in XXXXXXXXXX program.   Client waived with compensating factors: XXXXXXX mos reserves when XX mos required; XXXXXXXX XXXX when XXXXXXXX is the max XXXXX XXXXXXXXXX current mortgage payment history.       02/04/2026 B 2 XXXXXXXXXX GA 1 13 C   B   C   B   A   A   C   A     Non-QM 1
1687981 XXXXXXXXXX XXXXXXXXXX 8407636 435 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit report is expired   Missing credit report dated within XXX days of the XXXXXXXXXX note date.  XXXX credit report in the file is dated XXXXXXXXXXX and expires XXXXXXXXX Credit report within XXX days of note date uploaded.   Client 03/26/2026 01:03 PM; Credit report within XXX days of note date uploaded.

 Reviewer 03/26/2026 02:25 PM;

03/26/2026     A 1 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
1687981 XXXXXXXXXX XXXXXXXXXX 8407637 350 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW - LTV/CLTV does not meet parameters   Exception approval is required for a XXXXX XXXXXXXX transaction exceeding XXXX XXXXXX XXXXXXX XXXX is XXXXXX   Exception approval received from XXXXX for XXXX XXXXXX XXXXXXXXXXXXX XXXXXXXX - score XXXX - minimum XXXXX         02/27/2026 B 2 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
1687981 XXXXXXXXXX XXXXXXXXXX 8408345 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Exception approval is required allowing XX investment property loans to the same borrower.  XXXXXXXXXXX require that if there are more than XX loans to the same borrower, XX of the loans must be a primary residence. Cash in hand exceeds documented expenses by more than XXXXXXXX and the XXXXX is XXXXXXXXX   Reviewer 02/27/2026 07:09 PM; Please provide the exception approval specifically stating XX investment loans to same borrower is approved.

 Reviewer 03/09/2026 04:19 PM;  XXXXXXXXX exception approval with conditions. XXXXXXX provide evidence of the invoices within XXXX days of the application XXXXXXXXXXXX as XXXX as the recouped funds of XXXXXXXXX are documented by invoices from within XXXX days of the application. XXX cash in hand exceeds documented expenses by more than XXXXXXXX then the XXXXX will be XXXXXXXX

03/17/2026     A 1 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
1687981 XXXXXXXXXX XXXXXXXXXX 8389822 72 XXXXXXXXXX Credit Closing Package   Closing Package -    XXX XXXXX confirmation is missing from file.       02/27/2026     A 1 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
1687981 XXXXXXXXXX XXXXXXXXXX 8389823 862 XXXXXXXXXX Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - Other:   The XXXXXXXX XX is missing from file. XXXXXXX provide, along with XXXX to re-record. Information provided     02/27/2026     A 1 XXXXXXXXXX CA 3 13 D   B   D   B   N/A N/A A   A     Exempt 1
1688516 XXXXXXXXX XXXXXXXXXXX 8760918 437 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Missing/Incomplete Verbal VOE   VVOE within XXX days of the note missing from the file. Received XXX XXXX XXXX     03/16/2026     A 1 XXXXXXXXXX NV 2 13 D   A   D   A   A   A   A   A     Safe Harbor QM (APOR) 1
1689052 XXXXXXXXX XXXXXXXXX 8913371 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Loan approval missing from the file. Loan XXXXXXXXX provided    Client 03/23/2026 01:40 PM; Hi team, bwr is non per resident alien as per the XXXXXXX XXX don't have the ability to XXXX it or the lock as a foreign national. XXXXXXX advise how to clear this condition. XXXXXXXX

 Reviewer 03/23/2026 02:26 PM; Condition has been reviewed

 03/23/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689052 XXXXXXXXX XXXXXXXXX 8913372 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Lock confirmation in file does not reflect XXXXXXXX XXXXXXXXXXX Acra XXXXX provided XXXXXXXX for XXX     03/23/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689052 XXXXXXXXX XXXXXXXXX 8869305 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Need corrected XXX affidavit - affidavit in file is missing a digit in the property address.     Client 03/21/2026 10:25 AM; Hi team, the address looks to be correct on our end on this doc. XXXX you please review? thanks!

 Reviewer 03/22/2026 03:34 PM;

 Reviewer 03/23/2026 11:11 AM;

03/23/2026     A 1 XXXXXXXXXX FL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689053 XXXXXXXXX XXXXXXXXX 8892127 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Please provide the XXXXXXXXX XXXXXXXX XXXXXXXXXXX     Client 03/30/2026 11:02 AM; uploaded for review

 Reviewer 03/30/2026 11:04 AM;

 Reviewer 03/30/2026 12:13 PM; Hello
XXXXX has been cleared.

XXXXXX

 03/30/2026     A 1 XXXXXXXXXX LA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
1689053 XXXXXXXXX XXXXXXXXX 8897543 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Exception approval required for a loan under the minimum amount of XXXXXXXXXXXX XXXXXXX is XXXXXXXXXX   Approval granted or a loan under the minimum amount of XXXXXXXXXXXX XXXXXXX is XXXXXXXXXXX XXXXXXXXXXXXX factors are XXXX XXXXX of XXXXXX XXXX post-closing reserves of XXX months XXXX loan amount of XXXX is under the maximum XXXX XXXX allowed for a XXXXX cashout for a XXXXXXXXXXXXX XXXXXXX         03/19/2026 B 2 XXXXXXXXXX LA 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
1689145 XXXXXXXXX XXXXXXXXXXXXXX 9073570 898 XXXXXXXXXX Compliance Compliance   Compliance - TRID- Fee Tolerance Violation   Zero tolerance violation of XXXXX due to increase in attorney fee in XXXXXXXX XX of XXXXX  XXXXXXX provide proof of refund, lox to borrower and a XXXXX reflecting cure.  XXXX must be provided within XXX days of closing Information provided   Client 03/27/2026 02:12 PM; Per XXXXXXX - XXX issued a lender credit of XXXXXXXXXXX to cover closing costs.  XXXXXXX have this condition cleared. XXX uploaded

 Reviewer 03/27/2026 04:14 PM;

 Reviewer 03/30/2026 10:32 AM; Hello
XXXXXXX provide a XXXXX reflecting the cure, as is the XXX only reflects a lender credit and does not show any portion of it going to fee above the legal limit - cure should be separated and listed  in section XXXXX

XXXXXX

 03/31/2026     A 1 XXXXXXXXXX TX 1 1 C   A   A   A   C   A   A   A     Non-QM 1
1689145 XXXXXXXXX XXXXXXXXXXXXXX 8850425 920 XXXXXXXXXX Compliance Compliance   Compliance - TRID-Missing Final CD   Please provide final XXX signed at closing on XXX Information provided   Reviewer 03/17/2026 01:23 PM; There is a XXXX XXX that is not signed by the borrower.  XXXXXX also is a partial XXX with the borrowers signature on XXXXX however it is missing the XXXXX page.  

 Reviewer 03/24/2026 01:52 PM; Missing page XX of the XXX signed and dated XXX

 03/27/2026     A 1 XXXXXXXXXX TX 1 1 C   A   A   A   C   A   A   A     Non-QM 1
1689145 XXXXXXXXX XXXXXXXXXXXXXX 8850579 971 XXXXXXXXXX Compliance Compliance   Compliance - CD- Missing CD Signed by borrower   Please provide evidence as to when the XXXX XXX was received by the borrower. Information provided   Reviewer 03/25/2026 08:55 AM; Evidence as to when the XXXX XXX was received by the borrower

 Client 03/26/2026 12:28 PM; X/X XXX uploaded

 Reviewer 03/26/2026 01:32 PM;

 Reviewer 03/26/2026 02:24 PM;

 Reviewer 03/27/2026 09:22 AM; NO documentation provided

 03/27/2026     A 1 XXXXXXXXXX TX 1 1 C   A   A   A   C   A   A   A     Non-QM 1
1689145 XXXXXXXXX XXXXXXXXXXXXXX 8715726 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     03/31/2026     A 1 XXXXXXXXXX TX 1 1 C   A   A   A   C   A   A   A     Non-QM 1
1689145 XXXXXXXXX XXXXXXXXXXXXXX 8715727 895 XXXXXXXXXX Compliance Compliance   Compliance - TRID CD- Need proof CD was received 3 days prior to consummation   Initial XXXXXXXX XXXXXXXXXXX received at least XX days prior to consummation.       03/17/2026     A 1 XXXXXXXXXX TX 1 1 C   A   A   A   C   A   A   A     Non-QM 1
1689300 XXXXXXXXX XXXXXXXXX 8718836 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Please provide the initial application for proof of initial application date.       03/16/2026     A 1 XXXXXXXXXX NY 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689300 XXXXXXXXX XXXXXXXXX 8718837 72 XXXXXXXXXX Credit Closing Package   Closing Package -    Loan must contain the XXXXX XXXXX confirmation. Information provided     03/12/2026     A 1 XXXXXXXXXX NY 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689300 XXXXXXXXX XXXXXXXXX 8718992 861 XXXXXXXXXX Credit Note   Note - Other:   Please provide an executed XXXXXXXXXXX XXXXXXXX XXXXXXXXXX per loan documents there should be XX years XXXX declining.       03/16/2026     A 1 XXXXXXXXXX NY 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689300 XXXXXXXXX XXXXXXXXX 8745114 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The borrower''''s credit report and evidence of residency XXXXXXXXXXX XXXXXXXXX XXXXXXXX are missing from the loan file. XXXX credit review is on hold until documents are received. Documents received     03/12/2026     A 1 XXXXXXXXXX NY 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689367 XXXXXXXXXX XXXXXXXXXX 8739415 320 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Asset Other   Guidelines reflect assets held in foreign accounts must be verified in XXX XXXXXXXXXX XXXX asset statements provided by the borrower are not reflected in XXX XXXXXXXXX but rather foreign currency. Received conversion rate for $   Reviewer 03/14/2026 10:16 AM; Provide the conversion rate verification of XXXXXX in the file from XXXXXXXXX to XXXX

 03/18/2026     A 1 XXXXXXXXXX FL 3 3 C   A   C   A   N/A N/A A   A     Exempt 1
1689459 XXXXXXXXXX XXXXXXXXXX 8780683 389 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Fraud Alert documentation   Guidelines for the XXXXX loan program require a fraud report with all high and medium alerts cleared to be provided. XXXX fraud report provided did not reflect all the high and medium alerts were cleared. Received XXXXXXX XXXXXXXX with high and medium alerts cleared     03/23/2026     A 1 XXXXXXXXXX TX 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1689507 XXXXXXXXX XXXXXXXXX 8823115 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Initial application in file is not dated or signed by XXXXXXXXX and XXXXX XXXXXXX provide initial application, signed and dated by XXXXXXXXX and XXXXX Information provided     03/16/2026     A 1 XXXXXXXXXX MO 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
1689507 XXXXXXXXX XXXXXXXXX 8824802 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide the XXXXXX XXXXXX received revised XXXX   Reviewer 03/16/2026 10:02 PM; Fraud report received reflects an active XXXXX on XXXXX XX XXXXX XXXXXXX XXXXX property is not appearing on the final XXXXX XXX

 03/18/2026     A 1 XXXXXXXXXX MO 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
1689507 XXXXXXXXX XXXXXXXXX 8824803 1006 XXXXXXXXXX Credit UW Approval   UW Approval - UW Approval - 1008 or 92900 LT missing   Provide the signed and dated XXXXXXX XXX XXXXX was provided in the file. Received XXXX     03/16/2026     A 1 XXXXXXXXXX MO 3 13 D   A   D   A   N/A N/A A   A     Exempt 1
1689750 XXXXXXXXX XXXXXXXX 9072760 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Provide an appraisal review or secondary valuation in accordance with guidelines. XXXXX the initial appraisal was provided. Received XXXXX XXX score = X     03/27/2026     A 1 XXXXXXXXXX CA 3 13 C   A   A   A   N/A N/A C   A     Exempt 1
1689996 XXXXXXXXX XXXXXXXXXXXXX 9163965 433 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Short funds to close   Missing asset statements confirming at least XXXXXXXXXXXXX in funds for closing.  XXXXX statements are not in the file. XXXX final XXXXX shows assets of XXXXXXXXXXXXXXX USSA statement provided    Client 03/31/2026 10:42 AM; XXXXXXXXX_usaa XXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXX XXXXX XXXXXXXXX - funds uploaded showing  XXXXXXXXXXX sufficient for funds to close XXXXXXX clear.  XXXXXX you for reviewing

 Reviewer 03/31/2026 12:24 PM;

 Reviewer 03/31/2026 02:23 PM; Update - XXXXXXXX sufficient assets to cover cash to close on the subject loan per the final XXX of XXXXXXXXXXXXX plus assets to also cover the cash to close of XXXXXXXXXXXXX for the purchase of XXXX XXXXXXXXXX loan XXXXXXXXXXXX which closed on the same date of XXXXXXXXXXXX XXXXXXXX assets required are XXXXXXXXXXXXXX XXXXXXXXXXXXXXX subject   XXXXXXXXXXXXX XXXXXXXXXXXXXX XXXXXXX in the file from XXXXX XXXXXXX are XXXXXXXXXXXXXX which leaves a shortage of XXXXXXXXXXX

 Reviewer 03/31/2026 02:25 PM; Loan is still short to close

 03/31/2026     A 1 XXXXXXXXXX GA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
1690120 XXXXXXXXX XXXXXXXXXXXXXX 9080948 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   The borrower was charged a fee of XXXXXXXXX for an XXXXXXXXXX XXXXX XXXXXXX on the XXXXXXXXXXX XXXXXXXXXXXX  XXXXXXXX the XXXXXXXXXX XXXXX XXXXXXXX  XXXXXX was no XXXX for this loan so refund of XXXXXXX sent to borrower XXXXX of check provided      04/02/2026     A 1 XXXXXXXXXX CA 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
1690120 XXXXXXXXX XXXXXXXXXXXXXX 9081271 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide validation of each borrowers'''' tax payer XXX number. Executed XXXX XXXXXXX results provided      04/02/2026     A 1 XXXXXXXXXX CA 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
1690120 XXXXXXXXX XXXXXXXXXXXXXX 9053703 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Please provide the initial application for proof of initial application date. Information provided     04/02/2026     A 1 XXXXXXXXXX CA 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
1690294 XXXXXXXXX XXXXXXXXXXXXXX 9302606 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     04/08/2026     A 1 XXXXXXXXXX CA 1 1 C   B   C   B   C   A   C   A     Non-QM 1
1690294 XXXXXXXXX XXXXXXXXXXXXXX 9302607 970 XXXXXXXXXX Compliance Compliance   Compliance - CD- Missing   Missing initial XXXXX Information provided     04/08/2026     A 1 XXXXXXXXXX CA 1 1 C   B   C   B   C   A   C   A     Non-QM 1
1690294 XXXXXXXXX XXXXXXXXXXXXXX 9329698 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   CDA missing from the file. UCDP XXX score XXX     04/07/2026     A 1 XXXXXXXXXX CA 1 1 C   B   C   B   C   A   C   A     Non-QM 1
1690294 XXXXXXXXX XXXXXXXXXXXXXX 9329699 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Seller credit XXXXXXXX exceeds total closing costs XXXXXXXXXXX PCCD and copy of refund provided      04/14/2026     A 1 XXXXXXXXXX CA 1 1 C   B   C   B   C   A   C   A     Non-QM 1
1690294 XXXXXXXXX XXXXXXXXXXXXXX 9329700 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Max XXXXXXX XXXXXXXXXXXXXX for purchases > XXXX is XXXXX XXXXXXXXX in file to allow up to XXX XXXXXXX contributions.   Client waived with XXXXXXXXXXXXX factors: XXXX XXXXX when the minimum requirement is XXXXX mortgage history pai as agreed, experienced homeowner, XXX months reserve when XX months required.        04/07/2026 B 2 XXXXXXXXXX CA 1 1 C   B   C   B   C   A   C   A     Non-QM 1
1690508 XXXXXXXXX XXXXXXXXX 9170188 970 XXXXXXXXXX Credit Compliance   Compliance - CD- Missing   SS in file does not provide disbursement date. XXXXXXX provide updated XXX with disbursement date.       04/07/2026     A 1 XXXXXXXXXX WI 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1690656 XXXXXXXXX XXXXXXXXXXXX 9349974 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     04/10/2026     A 1 XXXXXXXXXX TX 1 3 C   A   A   A   C   A   A   A     Non-QM 1
1690656 XXXXXXXXX XXXXXXXXXXXX 9349975 970 XXXXXXXXXX Compliance Compliance   Compliance - CD- Missing   Missing XXXXXXXX XXXXX Information provided     04/10/2026     A 1 XXXXXXXXXX TX 1 3 C   A   A   A   C   A   A   A     Non-QM 1
1690656 XXXXXXXXX XXXXXXXXXXXX 9359058 863 XXXXXXXXXX Compliance Right to Cancel   Right to Cancel - Other:   Loan has not yet XXXXXXXXXXXXXXXX provide evidence loan has funded. Information provided     04/10/2026     A 1 XXXXXXXXXX TX 1 3 C   A   A   A   C   A   A   A     Non-QM 1
1690795 XXXXXXXXX XXXXXXXXXXXXX 9472020 861 XXXXXXXXXX Credit Note   Note - Other:   Loan closes in an XXXX and has a XXXXXXXXX XXXXXXXXXXX XXXXXXXXX XXXXXXXXX in file is notarized, but not signed by XXXXXXXXXXXX XXXXXXX provide XXXXXXXXX XXXXXXXXX signed and dated by XXXXXXXXXX and notarized. Information provided     04/22/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
1690795 XXXXXXXXX XXXXXXXXXXXXX 9492767 1108 XXXXXXXXXX Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   A XXXXX XXXXX report with a score of XXXXX or below is missing. XXX the score exceeds XXXXXX a secondary collateral evaluation will be necessary. UCDP XXX XXXXX score XXXX     04/15/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A C   A     Exempt 1
1692629 XXXXXXXXXX XXXXXXXXXX 9852306 328 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Satisfactory 12 mth Mortgage   Guidelines for the XXXXX loan program reflect a mortgage history of XXXXXXXX is required. XXXXXXXXXXXXXX mortgage history reflects XXXXXXXX XXXXXXXXXX This is a XXXXXXXX mortgage event. the lock has been updated to reflect this.     05/15/2026     A 1 XXXXXXXXXX IL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1692629 XXXXXXXXXX XXXXXXXXXX 9852307 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Provide a XXXXXXX of XXXXXXXXXXXX signed by the borrower for the delinquent mortgage history XXXXXXXX and XXXXXXXXX esigned and dated XXXX provided      04/30/2026     A 1 XXXXXXXXXX IL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1692629 XXXXXXXXXX XXXXXXXXXX 9852308 389 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Fraud Alert documentation   A XXXXXX XXXXXXX with all high and medium alerts cleared is required. XXXX fraud report provided does not reflect the alerts as cleared. Received XXXXX XXXXX XXXXXXX XXXXXXX     05/11/2026     A 1 XXXXXXXXXX IL 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1693166 XXXXXXXXX XXXXXXX 10584355 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.           06/03/2026     A 1 XXXXXXXXXX OH 1 13 C   A   A   A   C   A   A   A     Non-QM 1
1693166 XXXXXXXXX XXXXXXX 10584356 897 XXXXXXXXXX Compliance Compliance   Compliance - TRID CD- Other   Need evidence of borrower''''s receipt of the XXXXX revised XXXX       06/03/2026     A 1 XXXXXXXXXX OH 1 13 C   A   A   A   C   A   A   A     Non-QM 1
1693238 XXXXXXXXX XXXXXXXXXXXXX 10403034 973 XXXXXXXXXX Credit Compliance   Compliance - CD- Other   Final XXX in file is not legible. XXXXXXX provide a legible copy of final XXXX Information provided   Client 05/27/2026 05:39 PM; XXXXXXXXXXXXX_TDOC_mcpeck XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXX XXXXXXXXXXXX XXXXXXXXX - legible copy of final cd provided XXXXXXX clear condition. XXXXXX you for reviewing

 Reviewer 05/28/2026 04:26 AM;

 Reviewer 05/28/2026 01:09 PM;

05/28/2026     A 1 XXXXXXXXXX OK 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
1693282 XXXXXXXXX XXXXXXXXXX 10428652 884 XXXXXXXXXX Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     05/28/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693282 XXXXXXXXX XXXXXXXXXX 10428653 970 XXXXXXXXXX Compliance Compliance   Compliance - CD- Missing   Initial XXX is missing. Information provided     05/28/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693282 XXXXXXXXX XXXXXXXXXX 10429661 959 XXXXXXXXXX Credit Closing Package   Closing Package - IEADS Initial Escrow Account Disclosure Missing or Incorrect   Please provide XXXXXXXX Information provided     05/28/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693282 XXXXXXXXX XXXXXXXXXX 10429861 875 XXXXXXXXXX Compliance Disclosure   Disclosure - Other:   Please provide XXXXXXXXXX XXXXXXXXXXXXXX Information provided     05/28/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693282 XXXXXXXXX XXXXXXXXXX 10429862 1065 XXXXXXXXXX Compliance Disclosure   Disclosure - Taxpayer Consent is Missing   Please provide XXXXXXXXX XXXXXXXX to the XXXX if XXXX XXXXXXXXXXXXX Information provided     05/28/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693282 XXXXXXXXX XXXXXXXXXX 10445575 1017 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Profit and Loss required   Provide a XXXX XXXXXXX YTD X   Client 05/21/2026 10:31 AM; re-uploaded credit report dated XXXXXX and XXXXXXXXXX XXXX

 Reviewer 05/21/2026 10:55 AM;

05/26/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693282 XXXXXXXXX XXXXXXXXXX 10445576 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   Provide the XXXXXXXXXXX XXXXXXX report.       05/21/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693282 XXXXXXXXX XXXXXXXXXX 10445577 1055 XXXXXXXXXX Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   Provide the missing XXXXXXXXXXX XXXXX appraisal.       05/21/2026     A 1 XXXXXXXXXX OK 1 3 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1693413 XXXXXXXXX XXXXXXXXX 10065889 378 XXXXXXXXXX Credit UW Other   UW Other - UW - Initial/Final 1003 incomplete/missing   Missing the signed XXXXXX XXXXXXXXXXXXXXXXXX Received signed and dated XXXX   Reviewer 05/28/2026 03:48 PM; XXXX provided, however, it was not signed or dated  

 06/02/2026     A 1 XXXXXXXXXX WI 3 3 D   A   D   A   N/A N/A A   A     Exempt 1
1693413 XXXXXXXXX XXXXXXXXX 10065890 435 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit report is expired   The credit report dated XXXXXXXXXXX expired prior to the XXXXXXXXXXX XXXXX date. XXXXX credit supplement dated XXXXXXXXXXX was provided instead of new credit report. XXXXXXXXXXX require a credit report dated within XXX days of signing. XXXXXXXX a new credit report. Credit XXXXXXX dated XXXXXXXXXX provided    Reviewer 05/28/2026 03:51 PM; Updated seller guide change: XXXXX will now go out to XXXX days on the credit report, however, will require a credit refresh that contains a XXXXX score or a new credit report   

 06/01/2026     A 1 XXXXXXXXXX WI 3 3 D   A   D   A   N/A N/A A   A     Exempt 1
1693413 XXXXXXXXX XXXXXXXXX 10065892 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing the XXXXX payment letter. XXXXX payment letter provided      05/28/2026     A 1 XXXXXXXXXX WI 3 3 D   A   D   A   N/A N/A A   A     Exempt 1
1693773 XXXXXXXXX XXXXXXXXXX 10767260 861 XXXXXXXXXX Credit Note   Note - Other:   Loan amount in XXXXX does not match XXXXX XXXXX XXXXXXXXXXXXX loan amount. XXXXXXX provide updated XXXXX XXXXX XXXXXXXXXXXXX with corrected loan amount. Information provided     06/04/2026     A 1 XXXXXXXXXX ID 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
1693773 XXXXXXXXX XXXXXXXXXX 10795157 317 XXXXXXXXXX Credit UW Assets   UW Assets - UW - Hud-1 from sale   Final XXX from sale of XXXXX XXXXX XXX netting minimum XXXXXXXXX missing from the file. Received final XXX with exchange funds of XXXXXXXXXXXXX     06/03/2026     A 1 XXXXXXXXXX ID 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
1693960 XXXXXXXXX XXXXXXXXX 10424670 376 XXXXXXXXXX Credit UW Other   UW Other - UW - SS verification   Guidelines for the XXXXX loan program require the borrower tax payer XXXXXXX to be validated. XXX evidence of validation of the XXXX was provided. SSN verification provided      05/26/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
1693961 XXXXXXXXX XXXXXXXXX 10283432 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing XXXX verification in the form of an XXXX card, XXXXXXXX or tax preparers letter confirming the taxpayer XXXXX SSA-XX results provided      05/21/2026     A 1 XXXXXXXXXX FL 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
1693970 XXXXXXXXX XXXXXXXXXXXXX 10435061 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Missing XX months rent loss insurance with a minimum of XXXXXXXXXXXXXX XXXXXXXXX for investment properties under the XXXXX program with a XXXXX XXXXXX Condo policy XXXX shows rent loss coverage      05/28/2026     A 1 XXXXXXXXXX NV 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1693970 XXXXXXXXX XXXXXXXXXXXXX 10435062 418 XXXXXXXXXX Credit UW Collateral   UW Collateral - UW - Client Condo Warranty Requirements   The property does not meet the requirements for warrantability. XXXXXXXXXX to the XXXXXX XXXXXXXXXXXXXX the investor concentration is over XXXX at XXXXXX Per XXX XXX to proceed      05/25/2026     A 1 XXXXXXXXXX NV 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1694117 XXXXXXXXX XXXXXXXXXXXXX 10585150 846 XXXXXXXXXX Compliance Disclosure   Disclosure - Missing initial disclosure within 3 days of application   Need the XXXXX XXXXX XXXXXXXX issued within XX days of XXXX application date. Information provided     06/01/2026     A 1 XXXXXXXXXX FL 2 1 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1694117 XXXXXXXXX XXXXXXXXXXXXX 10589920 72 XXXXXXXXXX Compliance Closing Package   Closing Package -    Loan must contain the XXXXX XXXXX confirmation. Information provided     05/29/2026     A 1 XXXXXXXXXX FL 2 1 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1694117 XXXXXXXXX XXXXXXXXXXXXX 10620522 336 XXXXXXXXXX Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Income calculation worksheet is missing from the file. Income worksheet provided      06/01/2026     A 1 XXXXXXXXXX FL 2 1 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1694117 XXXXXXXXX XXXXXXXXXXXXX 10620723 351 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW - DTI exceeds maximum limit   DTI exceeds guidelines. XXXXXXXXXX own a non profit company. XXXX income from XXXXX to XXXXX decreased. XXXXXX XXXXX average from XXXX XXXXXX monthly income is XXXXXXXXXX XXXXXXXX housing XXXXXXX   subject XXXXXXXXXXX   other debt XXXXXXX = XXXXXXXXXXXXXXXXX XXXXXXXX = XXXXXXXXXXXXXXXX XXXXXX additional XXXXXXXXXXXXXXXXXX must be provided to justify multi-year average. LOE provided      06/01/2026     A 1 XXXXXXXXXX FL 2 1 C   A   C   A   C   A   A   A     Safe Harbor QM (APOR) 1
1694505 XXXXXXXXX XXXXXXXXX 10475198 376 XXXXXXXXXX Credit UW Other   UW Other - UW - SS verification   Guidelines for the XXXXX loan program require the borrowers XXXX to be validated with a copy of the XXXX card or the results of a processed XXXXXXXXX XXX evidence the borrowers'''' XXXXX were validated was provided. Received XXXX verification of XXXXXXXX     05/28/2026     A 1 XXXXXXXXXX CA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
1694506 XXXXXXXXX XXXXXXXXX 10476394 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Third party validation of social security number is missing from the file. SSN verification provided    Client 06/05/2026 11:41 AM; this was uploaded XXX

 Reviewer 06/05/2026 11:41 AM;

06/05/2026     A 1 XXXXXXXXXX NJ 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
1694726 XXXXXXXXXXXXX XXXXXXXXXXXXX 10618718 376 XXXXXXXXXX Credit UW Other   UW Other - UW - SS verification   Guidelines for the XXXXX loan program require the borrower''''s XXXX to be verified with a copy of the XXXX card or completed XXXXXXX with results. XXX evidence of validation was provided. SSN verification provided      06/03/2026     A 1 XXXXXXXXXX OR 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
1694726 XXXXXXXXXXXXX XXXXXXXXXXXXX 10618725 271 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Collateral not acceptable/warrantable   Guidelines for the XXXXX loan program reflect the subject property is ineligible for financing due to the three bedroom units are currently being utilized as unpermitted studio units. Appraisal addendum provided    Reviewer 06/03/2026 05:38 AM; Email chain references an appraisal addendum XXXXXXX upload the appraisal addendum

 06/03/2026     A 1 XXXXXXXXXX OR 3 13 C   A   C   A   N/A N/A C   A     Exempt 1
1694917 XXXXXXXXX XXXXXXXXXXXX 10891565 875 XXXXXXXXXX Compliance Disclosure   Disclosure - Other:   Please provide XXXXX XXXXX XXXXXXXXXXXXXX Information provided     06/12/2026     A 1 XXXXXXXXXX IN 1 1 C   A   A   A   C   A   A   A     Non-QM 1
1694995 XXXXXXXXX XXXXXXXXX 10832091 1006 XXXXXXXXXX Credit UW Approval   UW Approval - UW Approval - 1008 or 92900 LT missing   Correct XXXXX for XX -unit property. Received XXXXX for XX unit property     06/08/2026     A 1 XXXXXXXXXX FL 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
1694995 XXXXXXXXX XXXXXXXXX 10818520 7 XXXXXXXXXX Credit Application   Application - Completed, signed, initial application for all applicant not in file   Please provide initial application, signed and dated by XXXXXXXXX and XXXX       06/09/2026     A 1 XXXXXXXXXX FL 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
1694995 XXXXXXXXX XXXXXXXXX 10818521 875 XXXXXXXXXX Credit Disclosure   Disclosure - Other:   Please provide XXXXX XXXXX XXXXXXXXXXXXXXX       06/09/2026     A 1 XXXXXXXXXX FL 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
1695103 XXXXXXXXX XXXXXXXXX 10820180 376 XXXXXXXXXX Credit UW Other   UW Other - UW - SS verification   Guidelines require verification of the borrowers XXXX with either a copy of the XXXX card or completed XXXXXXX with results. XXX validation was provided. Received XXXX verification of XXXXXXXX     06/05/2026     A 1 XXXXXXXXXX UT 1 1 C   A   C   A   A   A   A   A     Non-QM 1
1695133 XXXXXXXXXX XXXXXXXXXX 10853665 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Minimum loan amount XXXXXXXXXXXX XXXXX closed at XXXXXXXXX Per XXXXXX XXXXXXXXX for loan amount    Client 06/05/2026 08:45 AM; Approved for loan amount exception.

 Reviewer 06/05/2026 09:46 AM;

06/05/2026     A 1 XXXXXXXXXX TX 2 1 C   A   C   A   A   A   A   A     Non-QM 1
1695133 XXXXXXXXXX XXXXXXXXXX 10853883 330 XXXXXXXXXX Credit UW Credit   UW Credit - UW - Credit Other   Third party validation of social security number missing from the file. SSN verification provided      06/05/2026     A 1 XXXXXXXXXX TX 2 1 C   A   C   A   A   A   A   A     Non-QM 1
1695192 XXXXXXXXX XXXXXXXXX 11094373 851 XXXXXXXXXX Credit UW Qualifications   UW Qualifications - UW – Exception needed   Guidelines require XX credit scores or XX tradelines with XXX months history or XX tradelines   Client waived with compensating factors: XXXX XXXX when the max is XXXXX XXX months reserve when the minimum requirement is XXXX experienced property owner.        06/12/2026 B 2 XXXXXXXXXX CA 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
1695413 XXXXXXXXXXXX XXXXXXXXXXXX 11021198 272 XXXXXXXXXX Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Missing the original XXXXX review. XXXXX has a copy. XXXXXXX submit the original. Appraisal provided      06/10/2026     A 1 XXXXXXXXXX NJ 3 1 C   A   A   A   N/A N/A C   A     Exempt 1