SitusAMC Loan ID

Customer Loan ID

Seller Loan ID

Investor Loan Number

Unique Loan ID

Loan Exception ID

Exception ID

Exception Date

Exception Type

Exception Category

Exception Subcategory

15E Category

Exception

Exception Detail

Exception Information

Compensating Factors

Compensating Factor Information

Applying Party

Follow-up Comments

Cleared Date

Cured Date

Waived Date

Waived with Regrade

Exception Level Grade

DBRS Initial Exception Rating

DBRS Final Exception Rating

Fitch Initial Exception Rating

Fitch Final Exception Rating

Kroll Initial Exception Rating

Kroll Final Exception Rating

S&P Initial Exception Rating

S&P Final Exception Rating

Note Date

Property State

Occupancy

Purpose

Exception Remediation

Originator QM ATR Status

TPR QM ATR Status

Is Curable

[redacted]

[redacted]

[redacted]

[redacted]

34855816

35059114

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2025-12-02): XXXXX

 

12/02/2025

No

1

C

A

C

A

C

A

C

A

MS

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

34855816

35064348

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by $55,370.40. Provide updated policy reflecting minimum coverage of $XXXXX OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC

Reviewer Comment (2026-04-24): XXXXX

 

 

Buyer Comment (2026-04-24): XXXXX

 

 

Reviewer Comment (2026-04-02): XXXXX

 

04/24/2026

Yes

2

C

B

C

B

C

B

C

B

MS

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

34855816

36338169

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

The property is located in FEMA Disaster area.  Provide a post-disaster inspection verifying there was no damage.  The inspection must include exterior photos and the property must be re-inspected on or after XX/XX/XX declared end date.

Reviewer Comment (2026-06-01): XXXXX

 

06/01/2026

No

1

A

A

A

A

MS

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

39251981

35278470

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Verification appraisal was delivered to borrower was not provided.

12/23/2025

No

2

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

39251981

35278471

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 3.64414% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or .64414%).

XXXXX Points and Fees exceed allowable threshold by $XXX or .64414%.

12/23/2025

No

2

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

39251981

35278490

Credit

Title

Document Error

Title

The Preliminary title policy is within XXXXX or XXXXX and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The preliminary title report in file did not disclose the amount of title insurance coverage. Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

Final Title Policy will be provided as a trailing document.

Final Title Policy will be provided as a trailing document

SitusAMC,Aggregator

Reviewer Comment (2026-08-25): XXXXX

 

12/23/2025

No

2

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

39251981

35301204

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Tax Service Fee (Life Of Loan).  Fee Amount of $85.00 exceeds tolerance of $0.00.  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-12-23): XXXXX

 

12/23/2025

No

1

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

30475325

35325718

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Reviewer Comment (2026-01-06): XXXXX

 

01/06/2026

No

2

B

B

B

B

B

B

B

B

AL

Primary

Refinance - Rate/Term

If the IEAD is correct and the CD/HUD is incorrect, we require a corrected PCCD/HUD with LOE to borrower to cure. Signature is not required.

If the CD/HUD is correct and the IEAD is incorrect, we require LOE and corrected IEAD to cure. Signature is not required.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

30475325

35325720

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Processing Fee.  Fee Amount of $50.00 exceeds tolerance of $0.00.  Sufficient or excess cure was provided to the borrower at Closing.

Zero Percent Fee Tolerance exceeded for Processing Fee. Fee Amount of $50.00 exceeds tolerance of $0.00. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-12-31): XXXXX

 

12/31/2025

No

1

A

A

A

A

A

A

A

A

AL

Primary

Refinance - Rate/Term

Final CD evidences Cure

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

30210410

35924934

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-09): XXXXX

 

03/09/2026

No

1

C

A

C

A

C

A

C

A

GA

Investment

Refinance - Rate/Term

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

32558407

35063174

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

11/28/2025

No

2

B

B

B

B

B

B

B

B

TX

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

32558407

35063175

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML XXXXX Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of 7.93266% or Final Disclosure APR of XX.XX% is equal to or greater than the threshold of APOR XX.XX% + XX.XX%, or XX.XX%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of 7.93266% or Final Disclosure APR of XX.XX% is equal to or greater than the threshold of APOR XX.XX% + XX.XX%, or XX.XX%. Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2025-12-18): XXXXX

 

 

Reviewer Comment (2025-12-16): XXXXX

 

 

Reviewer Comment (2025-12-11): XXXXX

 

 

Seller Comment (2025-12-04): XXXXX

 

12/18/2025

No

1

C

A

C

A

C

A

C

A

TX

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

32558407

35063176

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-12-18): XXXXX

 

 

Reviewer Comment (2025-12-11): XXXXX

 

 

Reviewer Comment (2025-12-10): XXXXX

 

 

Reviewer Comment (2025-12-05): XXXXX

 

12/18/2025

No

1

C

A

C

A

C

A

C

A

TX

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

32558407

35063177

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 4.54992% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or 1.54992%).

XXXXX Points and Fees exceed allowable threshold by $XXX or 1.54992%.

11/28/2025

No

2

B

B

B

B

B

B

B

B

TX

Primary

Purchase

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

32558407

35271357

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Final appraisal report was not provided to borrower 3 days prior to closing.

Reviewer Comment (2025-12-22): XXXXX

 

 

Seller Comment (2025-12-19): XXXXX

 

12/22/2025

No

2

B

B

B

B

TX

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

30849304

35149193

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

File does not contain documentation from lender/seller confirming the condo is warrantable.

Reviewer Comment (2025-12-11): XXXXX

 

 

Seller Comment (2025-12-10): XXXXX

 

12/11/2025

No

1

C

A

C

A

C

A

C

A

FL

Investment

Purchase

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

30849304

35149209

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

12/05/2025

No

2

B

B

B

B

B

B

B

B

FL

Investment

Purchase

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

30849304

35149210

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

12/05/2025

No

2

B

B

B

B

B

B

B

B

FL

Investment

Purchase

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

30004824

35478670

Compliance

Compliance

State Compliance

Misc. State Level

Ohio Consumer Sales Practices Act (Acknowledgement of Receipt of Home Mortgage Loan Information Document Not Retained by Lender)

XXXXX Consumer Sales Practices Act: Acknowledgement of Receipt of Home Mortgage Loan Information Document not retained by lender.

Acknowledgement of Receipt of Home Mortgage Loan Information Document not retained by lender.

Reviewer Comment (2026-01-23): XXXXX

 

01/23/2026

No

1

B

A

B

A

B

A

B

A

OH

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

30004824

35478671

Compliance

Compliance

State Compliance

Misc. State Level

Ohio Consumer Sales Practices Act (No Documentation of Tangible Net Benefit Analysis)

XXXXX Consumer Sales Practices Act:  Mortgage loan file does not contain documentation of the analysis of the borrower's reasonable tangible net benefit.

Mortgage loan file does not contain documentation of the analysis of the borrower's reasonable tangible net benefit.

Reviewer Comment (2026-01-28): XXXXX

 

01/28/2026

No

2

B

B

B

B

B

B

B

B

OH

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

30004824

35478673

Compliance

Compliance

State Compliance

Misc. State Level

Ohio Consumer Sales Practices Act (Right Not To Close Disclosure Not Provided)

XXXXX Consumer Sales Practices Act: Borrower not provided Right Not To Close Disclosure.

Borrower not provided Right Not To Close Disclosure.

Reviewer Comment (2026-01-26): XXXXX

 

01/26/2026

No

1

B

A

B

A

B

A

B

A

OH

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

30004824

35478677

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Notice of Right to Cancel Expiration Date Prior or equal to Disbursement Date

Truth in Lending Act:  Actual Date(s) on Notice of Right to Cancel occurs prior to expected date(s).

RTC disclosed incorrect transaction and/or expiration date.

Reviewer Comment (2026-02-06): XXXXX

 

 

Seller Comment (2026-02-04): XXXXX

 

 

Reviewer Comment (2026-02-04): XXXXX

 

 

Reviewer Comment (2026-01-26): XXXXX

 

 

Seller Comment (2026-01-22): XXXXX

 

02/06/2026

No

2

C

B

C

B

C

B

C

B

OH

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

30651925

35305590

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Verification appraisal was delivered to borrower was not provided.

12/29/2025

No

2

B

B

B

B

B

B

B

B

NJ

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

30651925

35305593

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 3.45207% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or .45207%).

XXXXX Points and Fees exceed allowable threshold by $XXX or .45207%.

12/29/2025

No

2

B

B

B

B

B

B

B

B

NJ

Primary

Purchase

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

30651925

35305652

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided.

-

Appraisal was made subject to and 442 is not in images.

The representative FICO score exceeds the guideline minimum by at least 40 points.

 

Borrower has worked in the same position for more than 3 years.

 

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC

 

SitusAMC

 

SitusAMC

Reviewer Comment (2026-09-01): Zip code mismatch is non-material. Exception cleared.

 

 

Reviewer Comment (2026-01-07): XXXXX

 

 

Reviewer Comment (2025-12-31): XXXXX

 

 

Seller Comment (2025-12-30): XXXXX

 

09/01/2026

No

1

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

31895252

35467586

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 3.44547% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or .44547%).

XXXXX Points and Fees exceed allowable threshold by $XXX or .44547%.

01/15/2026

No

2

B

B

B

B

B

B

B

B

GA

Primary

Refinance - Cash-out - Other

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

31895252

35467633

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Missing letter from company's CPA providing a statement indicating withdrawal of the funds will not negatively impact the business OR meet XXXXX guidance for cash flow analysis.

Borrower has owned the subject property for at least 5 years.

 

Borrower has verified disposable income of at least $2500.00.

 

Borrower has worked in the same position for more than 3 years.

 

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

 

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

Reviewer Comment (2026-01-27): XXXXX

 

01/27/2026

Yes

2

C

B

C

B

C

B

C

B

GA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

31895252

35467694

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of 1.65 is less than Guideline PITIA months reserves of 3.00.

Reviewer Comment (2026-01-27): XXXXX

 

01/27/2026

No

1

C

A

C

A

C

A

C

A

GA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

31895252

35467941

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank XXXXX): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan designation failure due to ATR failure.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2026-01-27): XXXXX

 

01/27/2026

No

1

B

A

C

A

B

A

B

A

GA

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

31895252

35467942

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Loan does not meet one or more guideline components which could impact the borrower's ability to repay.

Ability to Repay (Dodd-Frank XXXXX): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR failure due to insufficient asset documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2026-01-27): XXXXX

 

01/27/2026

No

1

C

A

C

A

C

A

C

A

GA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37178945

35190569

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2025-12-18): XXXXX

 

12/18/2025

No

1

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318649

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

Reviewer Comment (2026-01-06): XXXXX

 

 

Seller Comment (2026-01-05): XXXXX

 

01/06/2026

No

2

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318650

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 4.98184% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or 1.98184%).

XXXXX Points and Fees exceed allowable threshold by $XXX or 1.98184%.

01/02/2026

No

2

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318652

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank XXXXX): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan designation failure due to ATR failure. This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2026-01-07): XXXXX

 

01/07/2026

No

1

B

A

C

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318654

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines

Ability to Repay (Dodd-Frank XXXXX): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 50.01833% moderately exceeds the guideline maximum of 50.00%. (DTI Exception is eligible to be regraded with compensating factors.)

The DTI calculated of 50.01833% moderately exceeds the guideline maximum of 50.00% due to higher monthly hazard insurance payment than used by lender.

Borrower has worked in the same position for more than 3 years.

 

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC

 

SitusAMC

Reviewer Comment (2026-01-07): XXXXX

 

01/07/2026

Yes

2

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318655

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Additional 3-Day Waiting Period Timing Test - Regular Transaction

TILA-RESPA Integrated Disclosure - Most recent Closing Disclosure received at least 3 days prior to closing dated XX/XX/XX disclosed an inaccurate APR of 8.15500%  compared to the actual APR at consummation of XX.XX% and a revised CD disclosing an accurate APR was not received by borrower at least three (3) business days prior to consummation.

Most recent Closing Disclosure received at least 3 days prior to closing dated XX/XX/XX disclosed an inaccurate APR of 8.15500% compared to the actual APR at consummation of XX.XX% and a revised CD disclosing an accurate APR was not received by borrower at least three (3) business days prior to consummation.

Reviewer Comment (2026-01-09): XXXXX

 

 

Seller Comment (2026-01-08): XXXXX

 

01/09/2026

No

1

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

TRID timing exception, no remediation available.

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318657

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $298.30 exceeds tolerance of $200.00 plus 10% or $220.00.  Sufficient or excess cure was provided to the borrower at Closing.

Ten Percent Fee Tolerance exceeded. Total amount of $298.30 exceeds tolerance of $200.00 plus 10% or $220.00. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-12-30): XXXXX

 

12/30/2025

No

1

A

A

A

A

A

A

A

A

FL

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318663

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___.

The DTI calculated of 50.01833% moderately exceeds the guideline maximum of 50.00% due to higher monthly hazard insurance payment than used by lender.

Borrower has worked in the same position for more than 3 years.

 

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC

 

SitusAMC

Reviewer Comment (2026-01-07): XXXXX

 

01/07/2026

Yes

2

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

31442208

35318666

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Loan does not meet one or more guideline components which could impact the borrower's ability to repay.

Ability to Repay (Dodd-Frank XXXXX): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The DTI calculated of 50.01833% moderately exceeds the guideline maximum of 50.00% due to higher monthly hazard insurance payment than used by lender.

Reviewer Comment (2026-01-07): XXXXX

 

 

Seller Comment (2026-01-05): XXXXX

 

01/07/2026

No

1

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37752830

35318030

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 4.02337% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or 1.02337%).

XXXXX Points and Fees exceed allowable threshold by $XXX or 1.02337%).

01/02/2026

No

2

B

B

B

B

B

B

B

B

TX

Primary

Purchase

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

37752830

35318032

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - Affiliated Business Arrangement Disclosure Not Provided Within 3 Business Days of Application

RESPA Disclosure Rule: Creditor did not provide Affiliated Business Arrangement Disclosure to applicant within three (3) business days of application.

RESPA Disclosure Rule: Creditor did not provide Affiliated Business Arrangement Disclosure to applicant within three (3) business days of application.

Reviewer Comment (2026-01-06): XXXXX

 

01/06/2026

No

2

B

B

B

B

B

B

B

B

TX

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37752830

35318034

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $17,500.00 exceeds tolerance of $14,073.00.  $3,427.00 over legal limit.  Insufficient or no cure was provided to the borrower.

Loan Discount Points was last disclosed as $14,073.00 on the Loan Estimate but disclosed as $20,000 on the Final Closing Disclosure. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2026-01-16): XXXXX

 

01/16/2026

No

1

C

A

C

A

C

A

C

A

TX

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

33565774

36298928

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-04-27): XXXXX

 

04/27/2026

No

1

C

A

C

A

C

A

C

A

PA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

34881411

35579574

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 3.60589% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or .60589%).

XXXXX Points and Fees exceed allowable threshold by $XXX or .60589%.

01/22/2026

No

2

B

B

B

B

B

B

B

B

WA

Primary

Purchase

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

34881411

35579577

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of $92.70 exceeds tolerance of $0.00.  Sufficient or excess cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Second Appraisal Fee. Fee Amount of $92.70 exceeds tolerance of $0.00. Sufficient cure was provided to the borrower.

Reviewer Comment (2026-01-20): XXXXX

 

01/20/2026

No

1

A

A

A

A

A

A

A

A

WA

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

36682648

35342196

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

01/07/2026

No

2

B

B

B

B

B

B

B

B

CO

Second Home

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

36682648

35342197

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver Test

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Evidence of earlier borrower receipt was not found in file.

Reviewer Comment (2026-01-21): XXXXX

 

01/21/2026

No

1

C

A

C

A

C

A

C

A

CO

Second Home

Purchase

No Defined Cure

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

36682648

35342199

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $2,421.72 exceeds tolerance of $2,170.00.  $251.72 over legal limit.  Insufficient or no cure was provided to the borrower.

Loan Discount Points was last disclosed as $2,170.00 on LE but disclosed as $2,421.72 on Final Closing Disclosure. File does not contain a valid COC for this fee, nor evidence of cure in file. Provide a post-close CD disclosing the tolerance cure to include $251.72, a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.

Reviewer Comment (2026-01-21): XXXXX

 

01/21/2026

No

1

C

A

C

A

C

A

C

A

CO

Second Home

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

36682648

35342200

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis.  Fee Amount of $205.00 exceeds tolerance of $0.00.  $205.00 over legal limit.  Insufficient or no cure was provided to the borrower.

Desk Review Fee was not disclosed on Loan Estimate. File does not contain a valid COC for this fee, nor evidence of cure. Provide a post-close CD disclosing the tolerance cure to include $205.00, a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.

Reviewer Comment (2026-01-21): XXXXX

 

01/21/2026

No

1

C

A

C

A

C

A

C

A

CO

Second Home

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

36682648

35604335

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis.  Fee Amount of $205.00 exceeds tolerance of $0.00.  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2026-01-21): XXXXX

 

01/21/2026

No

1

A

A

A

A

CO

Second Home

Purchase

Final CD evidences Cure

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

39118977

35929561

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-06-05): XXXXX

 

06/05/2026

No

1

C

A

C

A

C

A

C

A

MO

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

39118977

35929665

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Verification appraisal was delivered to borrower was not provided.

03/02/2026

No

2

B

B

B

B

B

B

B

B

MO

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

38723545

35596616

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver Test

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Evidence of earlier borrower receipt was not found in file.

Reviewer Comment (2026-02-22): XXXXX

 

 

Reviewer Comment (2026-02-12): XXXXX

 

02/22/2026

No

1

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

No Defined Cure

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

30321004

35731031

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by $42,455.20. Provide updated policy reflecting minimum coverage of $XXXXX OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2026-02-27): XXXXX

 

 

Seller Comment (2026-02-27): XXXXX

 

02/27/2026

No

1

C

A

C

A

C

A

C

A

ME

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

39140856

35643710

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-04-10): XXXXX

 

 

Buyer Comment (2026-02-10): XXXXX

 

 

Reviewer Comment (2026-02-05): XXXXX

 

04/10/2026

No

1

C

A

C

A

C

A

C

A

MI

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

39140856

35644021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

The file is missing a copy of Operating Agreement Document.

The representative FICO score exceeds the guideline minimum by at least 40 points.

 

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC

 

SitusAMC

Reviewer Comment (2026-02-13): XXXXX

 

 

Seller Comment (2026-02-11): XXXXX

 

 

Reviewer Comment (2026-02-10): XXXXX

 

 

Seller Comment (2026-02-09): XXXXX

 

 

Reviewer Comment (2026-02-06): XXXXX

 

 

Seller Comment (2026-02-05): XXXXX

 

02/13/2026

Yes

2

C

B

C

B

C

B

C

B

MI

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

38462008

35891521

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-04): XXXXX

 

03/04/2026

No

1

C

A

C

A

C

A

C

A

PA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

33589820

35726815

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  $22,615.70 is less than Cash From Borrower $102,573.76.

Reviewer Comment (2026-06-05): XXXXX

 

 

Reviewer Comment (2026-03-31): XXXXX

 

 

Reviewer Comment (2026-02-12): XXXXX

 

 

Reviewer Comment (2026-02-10): XXXXX

 

06/05/2026

No

1

C

A

C

A

C

A

C

A

NC

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33589820

35726817

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of 0.00 is less than Guideline PITIA months reserves of 3.00.

Reviewer Comment (2026-06-05): XXXXX

 

 

Reviewer Comment (2026-03-31): XXXXX

 

 

Reviewer Comment (2026-02-12): XXXXX

 

 

Seller Comment (2026-02-12): XXXXX

 

 

Reviewer Comment (2026-02-10): XXXXX

 

06/05/2026

No

1

C

A

C

A

C

A

C

A

NC

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33589820

35726818

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Missing required CPA letter

Borrower has been employed in the same industry for more than 5 years.

 

Borrower has verified disposable income of at least $2500.00.

 

Borrower has worked in the same position for more than 3 years.

 

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

 

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

 

The representative FICO score exceeds the guideline minimum by at least 40 points.

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

Reviewer Comment (2026-06-05): XXXXX

 

 

Buyer Comment (2026-06-05): XXXXX

 

 

Reviewer Comment (2026-03-31): XXXXX

 

 

Reviewer Comment (2026-02-12): XXXXX

 

 

Reviewer Comment (2026-02-10): XXXXX

 

06/05/2026

Yes

2

C

B

C

B

C

B

C

B

NC

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33589820

35726819

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank XXXXX): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Reviewer Comment (2026-06-05): XXXXX

 

06/05/2026

No

1

B

A

C

A

B

A

B

A

NC

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

33589820

35726820

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Loan does not meet one or more guideline components which could impact the borrower's ability to repay.

Ability to Repay (Dodd-Frank XXXXX): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR failure due to insufficient asset documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2026-06-05): XXXXX

 

06/05/2026

No

1

C

A

C

A

C

A

C

A

NC

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37031127

35685058

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

02/03/2026

No

2

B

B

B

B

B

B

B

B

FL

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37031127

35708269

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Missing letter from company's CPA providing a statement indicating withdrawal of the funds will not negatively impact the business OR meet XXXXX guidance for cash flow analysis. ***CPA letter provided does not verify the use of business funds will not negatively impact the business.

Borrower has verified disposable income of at least $2500.00.

 

Borrower has worked in the same position for more than 3 years.

 

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

 

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

 

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

 

The representative FICO score exceeds the guideline minimum by at least 40 points.

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

Reviewer Comment (2026-05-14): XXXXX

 

 

Reviewer Comment (2026-03-11): XXXXX

 

 

Reviewer Comment (2026-02-06): XXXXX

 

05/14/2026

Yes

2

C

B

C

B

C

B

C

B

FL

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37031127

35708352

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of $65,496.45 is less than Cash From Borrower $106,695.33. Missing letter from company's CPA providing a statement indicating withdrawal of the funds will not negatively impact the business OR meet XXXXX guidance for cash flow analysis.

Reviewer Comment (2026-05-14): XXXXX

 

 

Reviewer Comment (2026-03-11): XXXXX

 

 

Reviewer Comment (2026-02-06): XXXXX

 

05/14/2026

No

1

C

A

C

A

C

A

C

A

FL

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37031127

36494147

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2026-05-21): XXXXX

 

 

Reviewer Comment (2026-05-14): XXXXX

 

05/21/2026

No

2

B

B

B

B

FL

Primary

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

34664007

35822243

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 3.07166% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or .07166%).

XXXXX Points and Fees exceed allowable threshold by $XXX or .07166%.

02/18/2026

No

2

B

B

B

B

B

B

B

B

IL

Primary

Refinance - Cash-out - Other

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

34664007

35822246

Compliance

Compliance

State Compliance

State Defect

XXXXX SB 1894

XXXXX (SB 1894) - Certificate of Compliance or Exemption not attached to mortgage for recording.

Certificate of Compliance or Exemption not attached to mortgage for recording.

Reviewer Comment (2026-02-25): XXXXX

 

 

Seller Comment (2026-02-25): XXXXX

 

 

Seller Comment (2026-02-23): XXXXX

 

02/25/2026

No

1

C

A

C

A

C

A

C

A

IL

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

34664007

35822247

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of $92.70 exceeds tolerance of $0.00.  Sufficient or excess cure was provided to the borrower at Closing.

Zero Percent Fee Tolerance exceeded for Second Appraisal Fee. Fee Amount of $92.70 exceeds tolerance of $0.00. Sufficient cure was provided to the borrower at Closing.

Reviewer Comment (2026-02-16): XXXXX

 

02/16/2026

No

1

A

A

A

A

A

A

A

A

IL

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

34664007

35845573

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-06-05): XXXXX

 

06/05/2026

No

1

C

A

C

A

C

A

C

A

IL

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33845447

35790825

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML XXXXX Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of 7.92554% or Final Disclosure APR of XX.XX% is equal to or greater than the threshold of APOR XX.XX% + XX.XX%, or XX.XX%.  Non-Compliant Higher Priced Mortgage Loan.

HPML requirements not met.  Subject appraisal does not  reflect correct address for subject property.  Lender to provide updated appraisal reflecting correct address.

Reviewer Comment (2026-03-12): XXXXX

 

 

Reviewer Comment (2026-03-05): XXXXX

 

 

Seller Comment (2026-03-04): XXXXX

 

 

Reviewer Comment (2026-02-27): XXXXX

 

 

Seller Comment (2026-02-25): XXXXX

 

03/12/2026

No

1

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33845447

35790826

Compliance

Compliance

Federal Compliance

Federal HPML

TIL HPML Appraisal Not Obtained Prior to Closing Test

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Appraisal not obtained prior to consummation.

Appraisal not obtained prior to consummation.

Reviewer Comment (2026-03-06): XXXXX

 

 

Reviewer Comment (2026-03-05): XXXXX

 

 

Reviewer Comment (2026-02-27): XXXXX

 

 

Seller Comment (2026-02-25): XXXXX

 

03/06/2026

No

1

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33845447

35790827

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2026-03-12): XXXXX

 

 

Reviewer Comment (2026-03-11): XXXXX

 

 

Seller Comment (2026-03-10): XXXXX

 

03/12/2026

No

1

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33845447

35790828

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 3.49875% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or .49875%).

XXXXX Points and Fees exceed allowable threshold by $XXX or .49875%.

02/13/2026

No

2

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

33845447

36047305

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2026-03-19): XXXXX

 

 

Seller Comment (2026-03-18): XXXXX

 

 

Seller Comment (2026-03-17): XXXXX

 

 

Reviewer Comment (2026-03-16): XXXXX

 

 

Seller Comment (2026-03-12): XXXXX

 

03/19/2026

No

2

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

33972485

35954030

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-11): XXXXX

 

03/11/2026

No

1

C

A

C

A

C

A

C

A

LA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

33972485

35954202

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.

The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount. Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

Final Title Policy will be provided as a trailing document.

Final Title Policy will be provided as a trailing document

SitusAMC,Aggregator

Reviewer Comment (2026-08-25): XXXXX

 

03/05/2026

No

2

B

B

B

B

B

B

B

B

LA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

34775286

35604393

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-12): XXXXX

 

 

Buyer Comment (2026-02-03): XXXXX

 

 

Reviewer Comment (2026-01-30): XXXXX

 

03/12/2026

No

1

C

A

C

A

C

A

C

A

MI

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

39288742

35788961

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-02-18): XXXXX

 

02/18/2026

No

1

C

A

C

A

C

A

C

A

OH

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

32093340

35648030

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

01/30/2026

No

2

B

B

B

B

B

B

B

B

CA

Second Home

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

32093340

35648104

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Insurance Verification and Tax Verification is missing from the file.

Seller Comment (2026-02-03): XXXXX

 

 

Reviewer Comment (2026-02-03): XXXXX

 

 

Seller Comment (2026-02-02): XXXXX

 

02/03/2026

No

1

C

A

C

A

C

A

C

A

CA

Second Home

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

32093340

35648110

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Mortgage Statement is missing from the file.

Reviewer Comment (2026-02-05): XXXXX

 

 

Seller Comment (2026-02-04): XXXXX

 

 

Seller Comment (2026-02-03): XXXXX

 

 

Reviewer Comment (2026-02-03): XXXXX

 

 

Seller Comment (2026-02-02): XXXXX

 

02/05/2026

No

1

C

A

C

A

C

A

C

A

CA

Second Home

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

32093340

35648137

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Maximum Loan Amount discrepancy.

Note loan amount of ___ is greater than Guideline maximum loan amount of ___.

Note loan amount of $XXXXX is greater than Guideline maximum loan amount of $XXXXX.

Borrower has been employed in the same industry for more than 5 years.

 

Borrower has verified disposable income of at least $2500.00.

 

Borrower has worked in the same position for more than 3 years.

 

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

 

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

 

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

 

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

 

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

 

The representative FICO score exceeds the guideline minimum by at least 40 points.

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

 

SitusAMC

Reviewer Comment (2026-02-03): XXXXX

 

02/03/2026

Yes

2

C

B

C

B

C

B

C

B

CA

Second Home

Purchase

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

39979037

35937316

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

03/03/2026

No

2

B

B

B

B

B

B

B

B

CO

Primary

Refinance - Cash-out - Other

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

38970054

36087469

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-04-17): XXXXX

 

 

Buyer Comment (2026-03-31): XXXXX

 

 

Reviewer Comment (2026-03-30): XXXXX

 

04/17/2026

No

1

C

A

C

A

C

A

C

A

MI

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

36509753

35943268

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-09): XXXXX

 

03/09/2026

No

1

C

A

C

A

C

A

C

A

MO

Investment

Refinance - Rate/Term

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

31504514

35890428

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-04): XXXXX

 

03/04/2026

No

1

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

35638893

35925045

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-09): XXXXX

 

03/09/2026

No

1

C

A

C

A

C

A

C

A

PA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

34814677

36121122

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-04-01): XXXXX

 

04/01/2026

No

1

C

A

C

A

C

A

C

A

GA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

37107331

35866586

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-04): XXXXX

 

03/04/2026

No

1

C

A

C

A

C

A

C

A

PA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

32768902

36559895

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-05-29): XXXXX

 

05/29/2026

No

1

C

A

C

A

C

A

C

A

MS

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

32768902

36560138

Credit

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

Representative FICO score of ___ is less than Guideline representative FICO score of ___.

Representative FICO score of 670 is less than the guideline representative FICO score of 680. Lender exception in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC

Reviewer Comment (2026-05-29): XXXXX

 

 

Seller Comment (2026-05-28): XXXXX

 

05/29/2026

Yes

2

C

B

C

B

C

B

C

B

MS

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

34313042

35934229

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-06-05): XXXXX

 

06/05/2026

No

1

C

A

C

A

C

A

C

A

PA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

34313042

35934629

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

03/03/2026

No

2

B

B

B

B

B

B

B

B

PA

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

37192980

35624776

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

The file is missing a copy of the secondary valuation required for securitization purposes.

Reviewer Comment (2026-02-09): XXXXX

 

 

Seller Comment (2026-02-06): XXXXX

 

 

Reviewer Comment (2026-01-30): XXXXX

 

 

Seller Comment (2026-01-29): XXXXX

 

02/09/2026

No

1

D

A

D

A

D

A

D

A

NC

Primary

Refinance - Rate/Term

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37192980

35624780

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  $18,692.64 is less than Cash From Borrower $19,312.02.Available for Closing is insufficient to cover Cash From Borrower.

Reviewer Comment (2026-01-30): XXXXX

 

 

Seller Comment (2026-01-29): XXXXX

 

01/30/2026

No

1

C

A

C

A

C

A

C

A

NC

Primary

Refinance - Rate/Term

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37192980

35625561

Compliance

Compliance

Federal Compliance

GSE

XXXXX - 3% Points and Fees

XXXXX 3% Points and Fees Test.  Points and Fees on subject loan of 4.77367% is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total $XXX on a Federal Total Loan Amount of $XXX vs. an investor allowable total of $XXX (an overage of $XXX or 1.77367%).

XXXXX Points and Fees exceed allowable threshold by $XXX or 1.77367%.

01/28/2026

No

2

B

B

B

B

B

B

B

B

NC

Primary

Refinance - Rate/Term

LOE, copy of check and proof of mailing/delivery. Note: Testing is optional based on deal settings.

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

37192980

35625601

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of 8.52 is less than Guideline PITIA months reserves of 9.00.

Reviewer Comment (2026-02-09): XXXXX

 

 

Seller Comment (2026-02-06): XXXXX

 

 

Reviewer Comment (2026-02-03): XXXXX

 

 

Reviewer Comment (2026-01-30): XXXXX

 

 

Seller Comment (2026-01-30): XXXXX

 

02/09/2026

No

1

C

A

C

A

C

A

C

A

NC

Primary

Refinance - Rate/Term

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

37192980

35625627

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank XXXXX): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan designation failure due to QM failure.  This exception will be cleared once all QM specific exceptions have been cured/cleared.

Reviewer Comment (2026-02-09): XXXXX

 

 

Seller Comment (2026-02-06): XXXXX

 

 

Reviewer Comment (2026-02-03): XXXXX

 

 

Seller Comment (2026-01-30): XXXXX

 

02/09/2026

No

1

B

A

C

A

B

A

B

A

NC

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM Loan Designation

Non QM

Non QM

Yes

[redacted]

[redacted]

[redacted]

[redacted]

37192980

35625628

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Loan does not meet one or more guideline components which could impact the borrower's ability to repay.

Ability to Repay (Dodd-Frank XXXXX): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Loan designation failure due to ATR failure.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2026-02-09): XXXXX

 

 

Seller Comment (2026-02-06): XXXXX

 

 

Reviewer Comment (2026-02-03): XXXXX

 

 

Seller Comment (2026-01-30): XXXXX

 

02/09/2026

No

1

C

A

C

A

C

A

C

A

NC

Primary

Refinance - Rate/Term

Non QM

Non QM

No

[redacted]

[redacted]

[redacted]

[redacted]

30364591

35934685

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification revised appraisal was delivered to borrower three (3) business days prior to consummation was not provided.

03/03/2026

No

2

B

B

B

B

B

B

B

B

OR

Investment

Purchase

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

33146684

36220289

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-04-15): XXXXX

 

04/15/2026

No

1

C

A

C

A

C

A

C

A

MO

Investment

Refinance - Cash-out - Other

N/A

No

[redacted]

[redacted]

[redacted]

[redacted]

37150191

36046412

Credit

Guideline

Guideline Issue

Guideline

Enhanced diligence review is being conducted on this loan.

Reviewer Comment (2026-03-23): XXXXX

 

03/23/2026

No

1

C

A

C

A

C