Loan ID (Purchasing Lender)

Loan Number (Selling Lender)

Exception ID

Exception ID Date

Condition Category

Condition Standardized Description

Condition ID

Exception Level

Status

Condition Custom Description

Cleared Date

Compensating Factors

Lender Response

Comments

Loan Status

Moody's Initial Exception Grade

Moody's Final Exception Level Grade

Fitch Initial Exception Grade

Fitch Final Exception Level Grade

S&P Initial Exception Grade

S&P Final Exception Level Grade

Kroll Initial Exception Grade

Kroll Final Exception Level Grade

DBRS Initial Exception Grade

DBRS Final Exception Level Grade

3083427

XXXX

1168071

02/23/2026

Credit

Credit Documentation is Insufficient

CRED 0093

Closed

The file is missing evidence of the borrower's primary residence located at (redacted) being owned free and clear. The file did not include a Property Profile.

03/06/2026

Low LTV/CLTV/HCLTV - (redacted) LTV w/a max of (redacted) LTV.

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths of mtg history verified (redacted). Guideline required (redacted).

;

03/06/2026 Finding is cleared with the attached open lien report. - 03/06/2026 Finding is cleared with the attached open lien report.

Approved

3083427

XXXX

1168741

02/25/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Closed

Missing verification of large deposit in the amount of (redacted) incoming wire dated (redacted) to (redacted).

03/19/2026

03/19/2026 Finding is cleared with the attached copy of the settlement statement and corresponding loe, cash out proceeds from REO held in the name of the borrowers (redacted). - 03/19/2026 Finding is cleared with the attached copy of the settlement statement and corresponding loe, cash out proceeds from REO held in the name of the borrowers LLC.

Approved

3083427

XXXX

1168749

02/25/2026

Credit

Missing Copy of Quit Claim Deed

QCD 0001

Closed

Missing copy of executed Quit Claim Deed from (redacted) to (redacted). Copy of Quit Claim Deed (redacted) in file has not been executed

04/10/2026

04/10/2026 Executed quit claim deed provided. Finding resolved. - 04/10/2026 Executed quit claim deed provided. Finding resolved.

Approved

3083427

XXXX

1168757

02/25/2026

Credit

Unacceptable Mortgage History

CRED 0001

Closed

Missing verification of Mortgage or credit supplement for (redacted) Per the credit report (redacted) mortgage was transferred to another lender (redacted). (redacted) reflects (redacted) as of (redacted).

03/19/2026

03/19/2026 Agree, guidelines require (redacted)-mo history through the application date. Credit report shows the opening date (redacted) rated through (redacted). Subject application date (redacted). - 03/19/2026 Agree, guidelines require (redacted)-mo history through the application date. Credit report shows the opening date (redacted)- rated through (redacted)-. Subject application date (redacted)-.
03/06/2026 Partially agree, the open account that was transferred from the old lender should still be reporting. Missing credit supplement reporting the open mortgage for (redacted)-.

Approved

3084102

XXXX

1152436

12/02/2025

Credit

Hazard Insurance Coverage Amount is Insufficient

HAZ 0004

Closed

The evidence of insurance reflects coverage of (redacted). The residential Estimator reflects replacement cost of (redacted). Per guidelines, the coverage amount must not be less than

the insurable value of the improvements.

04/07/2026

Verified credit history - (redacted) Representative credit score exceeds the minimum required credit score of (redacted) by (redacted) Points.

;

04/07/2026 Finding is cleared with the attached paid receipt. - 04/07/2026 Finding is cleared with the attached paid receipt.
03/26/2026 Finding is partially cleared with the attached EOI for new policy: (redacted)- Premium (redacted)-. Missing hazard insurance paid receipt.
03/16/2026 The HOI policy was cancelled after closing because it was vacant. The owner obtained the builder’s risk policy until construction is completed. Finding escalated to investor for review.
12/08/2025 Lender to verify what guidelines the loan was underwritten. Review used (redacted)- Investor Flex Guidelines_(redacted)-, The coverage amount must not be less than
the insurable value of the improvements.

Funded

3084102

XXXX

1152454

12/02/2025

Credit

Missing Flood Insurance Proof of Premium

FINS 0001

Closed

The file is missing evidence the premium was paid in full.

01/20/2026

Verified credit history - (redacted) Representative credit score exceeds the minimum required credit score of (redacted) by (redacted) Points.

;

01/20/2026 Finding is cleared with the attached email correspondence from the insurer confirming the policy premium has been paid. - 01/20/2026 Finding is cleared with the attached email correspondence from the insurer confirming the policy premium has been paid.
12/08/2025 Disagree, it is the lender's responsibility to ensure that the premium is paid current and policy remains in force. Flood policy reflects, We must receive premium in full by (redacted)-. An email from the insurer confirming the premium has been paid can be accepted,(redacted)-.

Funded

3084102

XXXX

1152455

12/02/2025

Credit

Missing Hazard Insurance Proof of Premium

HAZ 0001

Closed

The file is missing evidence the premium was paid in full.

01/20/2026

Verified credit history - (redacted) Representative credit score exceeds the minimum required credit score of (redacted) by (redacted) Points.

;

01/20/2026 Finding is cleared with the attached email correspondence from the insurer confirming the policy premium has been paid. - 01/20/2026 Finding is cleared with the attached email correspondence from the insurer confirming the policy premium has been paid.
12/08/2025 Disagree, it is the lender's responsibility to ensure that the premium is paid current and policy remains in force. EOI policy effective date is (redacted)- days prior to closing. An email from the insurer confirming the premium has been paid can be accepted(redacted)-.

Funded

3086811

XXXX

1157450

01/02/2026

Credit

Missing Inter Vivos Revocable Trust Agreement

TRST 0001

Closed

Missing Trust Certificate and/or Agreement.

01/14/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).; Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).;

01/14/2026 Copy of trust received. - 01/14/2026 Copy of trust received.

Funded

3086811

XXXX

1157453

01/02/2026

Compliance

Scrivener's Error

DEED 0050

Acknowledged

Missing date of execution on Notary Clause (redacted).

Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).; Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).;

03/27/2026 Finding is downgraded to EV2/B with scrivener's affidavit.

03/24/2026 Attached affidavit is missing the attached amended notary acknowledgement pg 21 of 21.

Funded

3086811

XXXX

1159124

01/12/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

Missing the final (redacted).

01/14/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).; Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).;

01/14/2026 Final (redacted) received. - 01/14/2026 Final 1008 received.

Funded

3088206

XXXX

1155142

12/17/2025

Compliance

Missing evidence of the Seller Closing Disclosure

TRID 0193

Closed

Missing seller's CD/HUD1/ALTA to document the seller's side of the purchase transaction.

12/19/2025

12/19/2025 Seller CD received. - 12/19/2025 Seller CD received.

Funded

3088206

XXXX

1155334

12/18/2025

Credit

Missing Tax Transcript(s)

CRED 0091

Acknowledged

Missing Wage and Income transcripts for (redacted) and (redacted) to support the (redacted) income, as required per guidelines.

05/13/2026 EV2/B - Investor Acknowledged Exception based on updated (redacted)- guidelines. Per (redacted)- (redacted)-transcripts are not required when (redacted)- is paid to borrowers (redacted)- or (redacted)-. (redacted)- in file reflects the business TIN as recipient.

Funded

3088473

XXXX

1160400

01/15/2026

Credit

Missing Sufficient Evidence of Insurance

INS 0001

Closed

Missing copy of flood policy. Only the invoice was provided (redacted)

02/03/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).;

02/03/2026 Agree, refer to new finding CRED 0093. - 02/03/2026 Agree, refer to new finding CRED 0093.

01/30/2026 Finding is partially cleared with the attached evidence of flood insurance for lot A and lot B. -- Finding remains. Flood policy for lot A does not reflect the lender as mortgagee.

01/22/2026 Copy of the flood application received.

** Finding remains, missing copy of the issued policy with the subject loan number and lender mortgagee.

01/19/2026 Finding is partially cleared with the attached flood insurance renewal for subject Lot A. Missing copy reflecting lender as mortgagee. Also missing evidence of flood insurance for Lot B, as reflected on the flood insurance application.

Approved

3088473

XXXX

1163099

02/03/2026

Credit

Credit Documentation is Insufficient

CRED 0093

Closed

Missing VOM,(redacted), for non-subject REO, (redacted). Flood insurance indicates the property is encumbered. Review is unable to reconcile the mortgage reflected on the EOI with mortgages reporting on the credit report without completed REO schedule, mortgage statement, PDR, and /or complete fraud report with REO information.-- Per guidelines, The file must contain verification of the Borrower’s (redacted)-month mortgage payment history on the primary residence (if applicable), and any mortgage loans on a Second/Vacation Home or Investment Property.

03/19/2026

03/19/2026 Attached CD confirms refinance of (redacted) by non-guaranteeing owner of the borrowing entity. Loan being refinanced is not reported on the borrowers credit report, thus supporting not personally liable. - 03/19/2026 Attached CD confirms refinance of(redacted)- by non-guaranteeing owner of the borrowing entity. Loan being refinanced is not reported on the borrowers credit report, thus supporting not personally liable.
03/03/2026 Per the corporate resolution from the borrowing entity, (redacted)-, both properties, (redacted)-and (redacted)-were to be refinanced. Missing property detail report or similar evidencing the property, (redacted)-, was not previously encumbered. Or, that the loan was held in the name of the (redacted)-. Review is unable to reconcile the mortgages on the credit report with each property without a completed REO schedule, mortgage statement, PDR, and /or complete fraud report with REO information.
02/24/2026 Disagree, documentation indicates the property is owned by the borrower; Corporate Resolution indicates refinance of redacted)-and (redacted)- (redacted)-, flood cert for (redacted)- provided in file (redacted)-, and EOI includes coverage for both (redacted)-.
02/16/2026 Corporate Resolution indicates refinance of (redacted)- and (redacted)-. Flood Cert (redacted)-indicates property is located in a flood zone(redacted)-. EOI in file for both Lot A and Lot B(redacted)-, Lot A (redacted)- loan #(redacted)-. Evidence of flood insurance, (redacted)-, reflects(redacted)- as first mortgagee (INS 0001).

Approved

3089169

XXXX

1166570

02/17/2026

Credit

Cashout Exceeds Guidelines

CRED 0022

Closed

The cash out for this transaction exceeds (redacted), the maximum allowable for transactions with LTV>(redacted) per guidelines. Subject LTV is (redacted).

04/16/2026

04/16/2026 Recd updated guidelines, max cash out (redacted). - 04/16/2026 Recd updated guidelines, max cash out (redacted)-.
04/07/2026 Finding escalated to investor to confirm guideline supersedes the matrix.
03/16/2026 Finding escalated to investor to confirm guideline supersedes the matrix.
03/11/2026 Escalated to investor.
02/24/2026 Basic Product Parameters, Cash Out proceeds are limited to(redacted)-. However, guidelines limit cash out on LTV >(redacted)-. Per guidelines cash-out refinance - When the LTV ≤ (redacted)-, there is no restriction to the cash-out proceeds. When the LTV > (redacted)-, the maximum amount of cash out for a cash-out refinance transaction is(redacted).

Approved

3089664

XXXX

1175577

04/08/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final (redacted) for (redacted) and for (redacted) section of REO indicates that the borrower does not own any REO. Borrower owns multiple REO with documented mortgages. (redacted) should include all REO with mortgages matched

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified housing payment history - (redacted) mos mtg history paid (redacted). Guideline requirement (redacted).;

04/08/2026 EV2/B - Non-Material corrections to (redacted).

Approved

3091104

XXXX

1164952

02/11/2026

Compliance

Zero Tolerance Fee Violation

COMP 0027

Acknowledged

Missing COC for decrease in General Lender Credits. LE issued (redacted) disclosed credit of (redacted). Final CD issued (redacted) reflects a final credit of (redacted). COCs for CD issued (redacted) and (redacted) do not describe any change events.

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted). ; Low DTI - Maximum DTI of (redacted) with review DTI of (redacted). ;

03/24/2026 EV2/B - Finding is downgraded with the attached PCCD, cover letter, copy of refund check (redacted), and courier tracking receipt to evidence delivery to borrower was completed within (redacted) days of consummation.

Approved

3091557

XXXX

1164670

02/10/2026

Credit

Missing copy of green card for permanent resident alien.

CRED 0122

Acknowledged

Missing complete copy of current Permanent Resident Card front and back. Copy in file is cutoff.

Verified reserves - (redacted) mths reserves w/a minimum requirement of (redacted).;

04/14/2026 EV2/B - Investor Acknowledged Exception,(redacted) notice provided.
03/06/2026 Per (redacted)1, This notice, presented with your expired (redacted), is evidence of your status and employment authorization. Missing a complete copy of the expired (redacted).
02/24/2026 Missing a complete copy of the expired (redacted). Copy in file does not reflect the issue/expiration dates. Per (redacted), This notice, presented with your expired (redacted) is evidence of your status and employment authorization.

Approved

3091623

XXXX

1164839

02/10/2026

Credit

Income Documentation is Insufficient

CRED 0082

Acknowledged

Missing documentation to verify borrowers' percentage of ownership in (redacted). No (redacted) letter or Operating agreement in the file to verify the borrowers own the business (redacted).

Low DTI - DTI (redacted), up to (redacted) acceptable.;

03/13/2026 EV/B - Finding is downgraded with the attached post-consummation signed Shareholders Agreement (pre-consummation dated document) confirming ownership percentages, which is in support of the pre-consummation dated (redacted) and real estate license for B2 in the loan file.
03/10/2026 Attached shareholder agreement is not signed by the shareholders.
02/24/2026 SOS does not satisfactorily document percentage of ownership. Real estate license is not in the name of the business and only references co-borrower, thus cannot be used to verify percentage of ownership. -- Missing (redacted) letter or operating agreement confirming percentage of ownership for both borrower and co-borrower.

Funded

3092973

XXXX

1161635

01/22/2026

Credit

Missing Schedule of Real Estate Owned

APP 0005

Acknowledged

Final (redacted) indicates that the borrower does not own any REO. Schedule of REO should include all REO that the borrower is personally liable for and all transactions in process. (redacted), (redacted), (redacted), and (redacted). (redacted).

Verified housing payment history - Reviewed mortgage history - (redacted) mos (redacted); Low LTV/CLTV/HCLTV - Max LTV of (redacted) - Reviewed LTV of (redacted); Established credit history - Min fico of (redacted) - Reviewed Fico of (redacted) ;

02/03/2026 EV2/B - Loan was approved under the DSCR loan program, thus an incomplete REO schedule is deemed non-material.

Funded

3092973

XXXX

1161802

01/23/2026

Credit

Entity Documentation is Insufficient

CRED 0143

Closed

Missing corporate resolution for the purchase by the (redacted). Property is vested in the name of (redacted), which is owned (redacted) by (redacted) and (redacted), who is not on the loan. Per guidelines for multi-member entities (i.e. (redacted) or more owners) where only one member is a borrower on the loan, a Corporate Resolution must be obtained.

03/25/2026

03/25/2026 Finding is cleared with the attached corporate resolution that is signed by the non-guaranteeing owner evidencing acknowledgement of the transaction. Guarantor signed the loan documents, thus satisfactorily documenting acknowledgment of the transaction. - 03/25/2026 Finding is cleared with the attached corporate resolution that is signed by the non-guaranteeing owner evidencing acknowledgement of the transaction. Guarantor signed the loan documents, thus satisfactorily documenting acknowledgment of the transaction.
02/06/2026 Escalated for review.
02/03/2026 Attached corporate resolution is not signed by (redacted), only (redacted).

Funded

3092973

XXXX

1161808

01/23/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Closed

Final (redacted) does not reflect any Assets, Bank Accounts, Retirement, or Other Assets. Unable to verify account used for funds to close.

02/06/2026

02/06/2026 Received revised (redacted) listing (redacted) in the asset section. Bank statements were provided in file for this account, thus the revision is deemed non-material. - 02/06/2026 Received revised (redacted) listing (redacted) in the asset section. Bank statements were provided in file for this account, thus the revision is deemed non-material.
02/03/2026 Posted response indicates that an application is attached for review, but not attachments have been posted.

Funded

3092973

XXXX

1161813

01/23/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Closed

Missing VOD or updated account print outs which include the account number and current balances for the following accounts: (redacted) (redacted) and (redacted)(redacted). File contains multiple print outs on (redacted) that verify funds transfers in and out of accounts with no date or current balances. Most recent statements provided for (redacted), and (redacted) are dated (redacted).

04/30/2026

04/30/2026 Finding is cleared with the attached (redacted) statement covering (redacted). Additional documented assets (redacted). Reserve and cash to close requirements met. - 04/30/2026 Finding is cleared with the attached (redacted) statement covering (redacted). Additional documented assets (CR 0012). Reserve and cash to close requirements met.
04/21/2026 While the statements reference account (redacted) in the account column it also shows(redacted) and there is no running balance.
04/21/2026 While the statements reference account (redacted) in the account column it also shows(redacted) and there is no running balance.
04/17/2026 The attached transaction history (redacted) does not show the bank name, account number, or borrower name.
03/03/2026 Missing (redacted) transaction history covering (redacted)
02/24/2026 Per guidelines, Asset Documentation - Assets must be sourced/seasoned for one (redacted) month and may be verified using:
Direct written verification, completed by the depository; or
Recent and consecutive account statements covering a period of one (redacted) month for each bank, brokerage, mutual fund account or investment portfolio. Account statements must provide all of the following information:
Borrower as the account holder;
Account number;
Time period covered;
Current balance in the US Dollars ($); and
Statement date
02/09/2026 Attached (redacted) statement does not list the account number an only provides transaction history from (redacted). -- Finding remains. Missing (redacted) transaction history covering (redacted)
02/06/2026 Received (redacted) asset statement (redacted). -- Finding remains. Missing (redacted) transaction history covering (redacted). Printout in file only shows recent activity (redacted), not all activity since the last statement cutoff date of (redacted).
02/03/2026 Disagree -

(redacted)printout (redacted) references (redacted) linked accounts, but does not provide the account number associated with the transaction history and does not reflect the date or current balance.

Printout (redacted) does not reflect the institution name, account number or current balance.

Printout (redacted) does not reflect transaction history from (redacted).

Funded

3092973

XXXX

1161832

01/23/2026

Credit

Missing Bank Statement(s)

CR 0012

Closed

1) Missing the (redacted), (redacted) statements for XXXX A/# ending in (redacted). (redacted) included these statements along w/a print out for (redacted) accounts as of (redacted) showing transactions through (redacted). (redacted) balance (redacted) that were not presented in the subject file.

02/03/2026

02/03/2026 Finding is cleared with the attached (redacted) asset statements for (redacted). - 02/03/2026 Finding is cleared with the attached (redacted) asset statements for (redacted).

Funded

3092973

XXXX

1161840

01/23/2026

Credit

Unacceptable Credit History

CRED 0009

Closed

Missing copy of the Note / Final CD for (redacted)((redacted), closed (redacted)).

02/03/2026

02/03/2026 Finding is cleared with the attached copy of the CD for non-subject REO. - 02/03/2026 Finding is cleared with the attached copy of the CD for non-subject REO.

Funded

3093357

XXXX

1162427

01/28/2026

Compliance

Loan Disbursement Date is on or before the required Right of Rescission Expiration Date

ROR 0009

Closed

Missing copy of the final Alta Settlement Statement to verify actual disbursement date for dry funding state. (Note corrected final CD required if settlement statement differs from the CD.) Final CD issued (redacted) has disbursement date of (redacted) which is the same date that the ROR expired.

02/24/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed since (redacted).; Verified occupancy in subject property - Borrowers have occupied the subject property for (redacted) years.;

02/24/2026 Finding is cleared with the attached final settlement statement. - 02/24/2026 Finding is cleared with the attached final settlement statement.
02/09/2026 Received dry funding CD. Missing copy of the final Alta Settlement Statement to verify disbursement date (redacted), interest from(redacted), and cash to borrower (redacted).

Funded

3093357

XXXX

1168316

02/24/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

Qualifying DTI (redacted) / Review DTI (redacted), variance > (redacted). Qualifying DTI was calculated using the IO payment. Per guidelines, Qualifying rate (IO) - Fully amortizing principal & interest payment using the applicable amortization period and Qualifying Rate.

03/04/2026

03/04/2026 Finding is cleared with the attached updated (redacted). - 03/04/2026 Finding is cleared with the attached updated (redacted).

Funded

3093681

XXXX

1164945

02/11/2026

Credit

Missing P&L

CR 0014

Closed

The file is missing the (redacted) YTD P&L for (redacted) and (redacted).

02/26/2026

Low LTV/CLTV/HCLTV - Maximum LTV of (redacted) with review LTV of (redacted). ; Verified reserves - Required (redacted) months of reserves with verified assets of (redacted) months. ; Verified credit history - Required FICO of (redacted) with actual FICO of (redacted). ;

02/26/2026 Verified seller loan product, (redacted) (redacted). (redacted) does not require YTD P&L. - 02/26/2026 Verified seller loan product,(redacted).(redacted) does not require YTD P&L.
02/26/2026 Please provide (redacted) lock showing that the loan was locked under XXX DU program.

Funded

3093681

XXXX

1165177

02/11/2026

Credit

Income Calculation Discrepancy

CRED 0084

Closed

Unable to validate lender income used to qualify for (redacted) of (redacted). Review calculated income of (redacted) based on (redacted), (redacted), and (redacted). Per income wks (redacted) lender used positive (redacted) income of (redacted). Actual Ordinary business income (loss) was (redacted) ((redacted) pg 300). Depreciation amount is also off from actual return.

05/05/2026

05/05/2026 Finding is cleared with the attached amended (redacted). - 05/05/2026 Finding is cleared with the attached amended (redacted).

Funded

3093681

XXXX

1180698

05/05/2026

Credit

Tax Returns/Transcripts are Insufficient

CRED 0087

Acknowledged

06/02/2026 EV2/B Investor acknowledged the exception for the amended return reporting through the (redacted) transcript.
06/02/2026 Signed page (redacted)of the return provided. No evidence of the status of the amended return. Transcripts reflect the original return information.
05/14/2026 (redacted) does not provide the amended return information. Transcript is showing (redacted)
05/07/2026 Unable to located evidence Amended (redacted) has been filed. Only (redacted) record of account provided.

Funded

3093858

XXXX

1164093

02/08/2026

Compliance

Missing Affiliated Business Disclosure

COMP 0010

Acknowledged

Missing affiliated business disclosure or lender attestation confirming (redacted) does not have any affiliated business relationships to disclose.

Low LTV/CLTV/HCLTV - (redacted) LTV is below the maximum (redacted) LTV by (redacted).

; Verified credit history - (redacted) Representative credit score exceeds the minimum required credit score of (redacted) by (redacted) Points.

; Low DTI - DTI of (redacted) is (redacted) below maximum DTI of (redacted).

;

03/11/2026 EV2/B - Seller confirms that no affiliates we used for the transaction, thus no ABD required.

Funded

3093858

XXXX

1164111

02/08/2026

Compliance

Final APR Outside Tolerance of .125 from APR 3 Business Days Prior to Closing

TRID 0206

Acknowledged

APR on Final CD dated (redacted) decreased more than (redacted) compared to the disclosed APR on Initial CD dated (redacted) - Variance: (redacted)

APR per (redacted) CD: (redacted)

APR per (redacted) CD: (redacted)

Lower Final APR is of benefit to borrower -- EV2/B

02/24/2026 EV2/B APR Decreased, Benefit to borrower.

Funded

3093858

XXXX

1164116

02/08/2026

Compliance

Document Intent to Proceed with the Transaction

TRID 0047

Closed

Missing documented intent to proceed date.

02/14/2026

02/14/2026 ITP executed (redacted) received. - 02/14/2026 ITP executed 12/19/25 received.

Funded

3093858

XXXX

1164664

02/10/2026

Credit

Missing Hazard Insurance Proof of Premium

HAZ 0001

Closed

Missing evidence the insurance has been paid. The evidence of insurance reflects a premium of (redacted). The final CD did not reflect the premium was collected. The file did not include the paid receipt.

05/19/2026

05/19/2026 Finding is cleared with the attached paid receipt for first half of the annual premium. - 05/19/2026 Finding is cleared with the attached paid receipt for first half of the annual premium.

02/18/2026 Per guidelines, The loan file must evidence the existence of Homeowners Insurance for the subject property. Acceptable proof would be front and back copy of canceled check, HUD-1 showing payment, and receipt for payment of the premium, the insurance binder or the policy;

Funded

3093858

XXXX

1164682

02/10/2026

Credit

Missing CPA Letter

CRED 0138

Closed

The file is missing verification of the percentage of ownership of the borrowers business. The file included a secretary of state search (redacted) confirming the business is active; however, the search does not include the percentage of the company owned. Per the guidelines, Verify the percentage of ownership via reliable third party using one of the following: (redacted) letter, Third-party accountant letter or Operating agreement or equivalent stating ownership percentage (e.g. articles of incorporation that clearly indicate the borrower's percentage in the business).

04/20/2026

04/20/2026 Finding is cleared with the attached (redacted) letter. - 04/20/2026 Finding is cleared with the attached (redacted) letter.

Funded

3093867

XXXX

1162324

01/28/2026

Compliance

Missing Legal Description on Mortgage/DOT

DEED 0021

Closed

Mortgage is missing the Exhibit A.

04/23/2026

Verified reserves - 9 months of verified reserves when GL required 3.; Verified housing payment history - 99 months of verified mortgage history paid 0x30 since 07/2008.;

04/23/2026 Recorded mortgage w/Exhibit A received. - 04/23/2026 Recorded mortgage w/Exhibit A received.
02/03/2026 The attached Mortgage is missing the legal description that is indicated to be attached on (redacted).

Funded

3093924

XXXX

1168516

02/24/2026

Compliance

Loan Disbursement Date is on or before the required Right of Rescission Expiration Date

ROR 0009

Acknowledged

Lender to provide PCCD to support (redacted) disbursement date per Final ALTA statement (redacted) . Latest current CD dated (redacted) shows a disbursement date of (redacted) - which is prior to the borrower's (redacted) day rescission period.

Verified employment history - Borrower has been self-employed for (redacted) years.; Verified occupancy in subject property - Borrower has occupied the subject property for (redacted) years.; Low DTI - Low DTI of (redacted) < (redacted) Max.;

03/03/2026 EV2/B - Finding is downgraded with the attached settlement statement, PCCD, and cover letter. Refer to remaining TRID 0205 exception.

Funded

3093924

XXXX

1168523

02/24/2026

Compliance

The Lender Credit and/or the Principal Reduction was not sufficient to overcome the total fee variance.

TRID 0205

Acknowledged

Missing valid COC for the increase to the appraisal fee from (redacted) to (redacted) on the (redacted) CD. The COC (redacted) indicates a loan amount change, which would not affect the appraisal cost.

03/19/2026 1) Part 1 of the exception can be downgraded (Stip 3/5) - Recd PCCD, cover letter, refund check(redacted), and email from borrower confirming receipt within (redacted) days of consummation.

2) Part 2 is cleared with the attached copy of the re-disclosure issued (redacted)(Stip 3/5).

3) Finding is downgraded with the attached PCCD, cover letter, refund(redacted), an courier tracking receipt to evidence delivery within (redacted) days of consummation.
03/10/2026 1) Under review.

2) Part 2 is cleared with the attached copy of the re-disclosure issued (redacted).

3) Lender does not address why the appraisal fee was initially disclosed as (redacted) to borrower. The appraisal was required for the transaction and the appraisal was transferred from prior application so the full amount of the appraisal should have been initially disclosed to borrower as the information was already known to lender at the time of application.
03/03/2026 1) Missing copy of refund check to borrower (redacted)with evidence of delivery completed within (redacted)days of consummation. PCCD, settlement statement, and cover letter via provided ROR 0009;

2) Missing re-disclosure dated (redacted) to correspond with the attached COC;

3) Attached COC states, appraisal fee updated due to appraisal was transferred from adverse loan and that the fee was paid from the old loan. Missing date the appraisal was transferred from loan (redacted)to(redacted).

Funded

3094113

XXXX

1178558

04/27/2026

Compliance

Closing Disclosure Received Date and Consummation Date

TRID 0005

Closed

05/05/2026

05/05/2026 1/6/2026 Closing Disclosure delivered to the borrower electronically provided. Finding resolved.

Funded

3094230

XXXX

1162723

01/30/2026

Compliance

Missing PUD Rider

DEED 0007

Closed

03/14/2026

03/14/2026 Letter of intent to rerecord the deed of trust with the PUD Rider received.

03/11/2026 Attached is a copy of the substitution of trustee.

03/05/2026 Received executed PUD rider. Missing is letter of intent to re-record.

02/24/2026 Missing executed PUD rider with evidence of re-recording

Approved

3094230

XXXX

1162735

01/30/2026

Compliance

Missing Evidence of Re-disclosure and a valid COC for the sum of non-specific (lump sum) lender credits and specific lender credits ($) that have decreased from the amount disclosed on the Loan Estimate/Closing Disclosure.

TRID 0121

Closed

02/24/2026

02/24/2026 Finding is cleared with the attached lock history, loan amount decreased (redacted)resulting in the general lender credit decreasing.

Approved

3094230

XXXX

1163305

02/04/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

02/24/2026

02/24/2026 Finding is cleared with the attached conditional loan approval.

Approved

3094230

XXXX

1163308

02/04/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

02/24/2026

02/24/2026 Finding is cleared with the attached AUS approval, approve/eligible is acceptable for loan approved using bank statement income.

Approved

3094230

XXXX

1163324

02/04/2026

Credit

Missing Evidence of sale of property owned

HUD 0011

Closed

02/14/2026

02/14/2026 Seller's final settlement statement received.

Approved

3095829

XXXX

1163428

02/05/2026

Credit

Initial 1003 Application is Incomplete

APP 0004

Closed

Missing initial application. The only executed (redacted) is the file is the one signed at closing.

02/25/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted). Up to (redacted) acceptable.; Low DTI - Low DTI of (redacted) < (redacted) Max.; Verified employment history - Borrowers have been self-employed for (redacted) years.;

02/25/2026 Finding is cleared with the attached initial application. - 02/25/2026 Finding is cleared with the attached initial application.

Funded

3095829

XXXX

1163443

02/05/2026

Credit

Missing Required Fraud Tool

CRED 0089

Closed

Missing valid fraud report. Report on (redacted) are Auto Refer and the finding related to (redacted) is not addressed in the file. (redacted) searches do not include this name.

02/14/2026

02/14/2026 Updated (redacted) report received. - 02/14/2026 Updated drive report received.

Funded

3096042

XXXX

1168440

02/24/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval, only the (redacted) is provided.

03/05/2026

Verified reserves - (redacted) months reserves required, (redacted) months reserves received from cash out.;

03/05/2026 Finding is cleared with the attached loan approval. - 03/05/2026 Finding is cleared with the attached loan approval.

Funded

3096042

XXXX

1168441

02/24/2026

Credit

Missing evidence of HOA Dues

CRED 0113

Closed

Per title, the subject property appears to be in a PUD ((redacted), PUD endorsements (redacted)). The appraisal does not have the PUD indicator checked and does not disclose any dues.

03/18/2026

Verified reserves - (redacted) months reserves required, (redacted) months reserves received from cash out.;

03/18/2026 Agree, revised appraisal confirms property is a PUD with no HOA fees. - 03/18/2026 Agree, revised appraisal confirms property is a PUD with no HOA fees.

03/14/2026 Corrected appraisal reflecting the subject to be a PUD received. Appraiser did not note any HOA fees. Appraiser to add to verify if the community is subject to HOA Fees.

Funded

3096042

XXXX

1168442

02/24/2026

Compliance

Missing PUD Rider

DEED 0007

Closed

Per title, the subject property appears to be in a PUD ((redacted), PUD endorsements (redacted) ). The DOT does not include a PUD Rider (redacted).

04/07/2026

Verified reserves - (redacted) months reserves required, (redacted) months reserves received from cash out.;

04/07/2026 Finding is cleared with the attached copy of the recorded DOT that includes the PUD Rider. - 04/07/2026 Finding is cleared with the attached copy of the recorded DOT that includes the PUD Rider.

Funded

3096042

XXXX

1168456

02/24/2026

Credit

LTV Exceeds Max Allowed

CRED 0010

Closed

The subject LTV is (redacted). This is the maximum allowed for the program per the matrix (Cash out DSCR (redacted)), however the subject market is declining and requires a (redacted) LTV reduction which makes maximum LTV (redacted).

03/05/2026

Verified reserves - (redacted) months reserves required, (redacted) months reserves received from cash out.;

03/05/2026 Received updated appraisal, market is indicated to be stable. - 03/05/2026 Received updated appraisal, market is indicated to be stable.

Funded

3096078

XXXX

1163435

02/05/2026

Credit

Entity Documentation is Insufficient

CRED 0143

Closed

Missing evidence the borrowing (redacted) is now owned (redacted) by (redacted). Per the Operating Agreement, the entity is solely owned by (redacted). No documentation in the file transferring ownership of (redacted) from (redacted) to (redacted), the only guarantor on the file. Single member Borrowing Certificate was signed by (redacted). The borrower/guarantor must be the managing member and have verified authority to sign on behalf of the entity, which documentation in the file does not support.

02/09/2026

Verified reserves - (redacted) months reserves required, (redacted) months verified in borrower accounts.;

02/09/2026 Finding is cleared with the attached granted judgment of name change, (redacted) to (redacted). - 02/09/2026 Finding is cleared with the attached granted judgment of name change, XXXX to XXXX XXX.

Approved

1032060

XXXX

1169375

02/27/2026

Credit

Trust Agreement is Incomplete

TRST 0003

Closed

Missing executed Certification of Trust. Document in file (redacted) is not signed or notarized.

03/13/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted) ((redacted) haircut Declining Market); Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified housing payment history - (redacted) months of verified mortgage history paid (redacted).;

03/13/2026 Finding is cleared with the attached copy of the executed trust. - 03/13/2026 Finding is cleared with the attached copy of the executed trust.

Funded

1032136

XXXX

1170370

03/05/2026

Credit

Credit Documentation is Insufficient

CRED 0093

Acknowledged

Missing evidence of the last year of on-time property tax payments for the borrower's primary residence (redacted) as required when property is owned free and clear.

Low LTV/CLTV/HCLTV - (redacted) LTV w/a minimum requirement of (redacted).

; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted), with cashout proceeds.

;

04/09/2026 EV2/B - Investor Acknowledged Exception: Comp factors: DSCR (redacted) or more above minimum and LTV of (redacted) being (redacted) or more below program max.
03/30/2026 Missing evidence that the (redacted) tax bill is paid current.
03/24/2026 Disagree, (redacted)website shows (redacted) taxes with penalties paid (redacted), and the (redacted) payment that was due (redacted) is still showing outstanding with penalties and interest.
03/18/2026 Tax search confirms the borrowers taxes on the primary residence are past due; (redacted)was paid (redacted) and(redacted) that was due (redacted) has not been paid.
03/13/2026 Missing evidence the taxes are being escrowed or evidence that the property taxes have been paid current.

Funded

1032136

XXXX

1170371

03/05/2026

Property

Appraisal Discrepancy

APPR 0076

Closed

The appraisal reflects subject to be owner occupied (redacted). The subject is a short term rental property. Occupancy to be updated.

03/13/2026

Low LTV/CLTV/HCLTV - (redacted) LTV w/a minimum requirement of (redacted).

; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted), with cashout proceeds.

;

03/13/2026 Finding is cleared with the attached revised appraisal, tenant occupied. - 03/13/2026 Finding is cleared with the attached revised appraisal, tenant occupied.

Funded

1032157

XXXX

1166593

02/17/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Missing evidence of (redacted) months current rent receipt for (redacted). There are (redacted) leases agreements in place: (redacted), (redacted), (redacted). DTI w/rental income excluded is (redacted). Max allowed DTI per guideline (redacted).

02/25/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Minimal outstanding debt - Credit report shows minimal outstanding debt owed with balances well under high credit limits on accounts outstanding.;

02/25/2026 Finding is cleared with the attach bank statements evidencing (redacted) months receipt of rent. (redacted) pays semi-monthly. - 02/25/2026 Finding is cleared with the attach bank statements evidencing (redacted) months receipt of rent. XXXX pays semi-monthly.

Funded

1032198

XXXX

1162962

02/03/2026

Credit

Seller Contributions exceed 2%

CRED 0081

Closed

Seller contribution is (redacted) . Guidelines note to follow (redacted) (redacted) Selling guide reflects a(redacted) limit for investment properties.

02/11/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified employment history - Borrower has been self-employed since XX/XXXX.;

02/11/2026 Received updated guidelines, (redacted). Per guidelines, Investment Property: max IPC is (redacted) - 02/11/2026 Received updated guidelines, (redacted). Per guidelines, Investment Property: max IPC is (redacted)
02/09/2026 Escalated to investor for review.

Funded

1032198

XXXX

1162964

02/03/2026

Credit

Missing Required Fraud Tool

CRED 0089

Closed

Missing fraud report with all findings addressed. Copy in file (redacted) is Auto Refer, no comments on conditions.

02/09/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified employment history - Borrower has been self-employed since XX/XXXX.;

02/09/2026 Finding is cleared with the attached fraud report, (redacted)/Pass. - 02/09/2026 Finding is cleared with the attached fraud report, (redacted)Pass.

Funded

1032198

XXXX

1163337

02/04/2026

Credit

Credit Documentation is Insufficient

CRED 0093

Acknowledged

Missing complete 12 month primary housing payment history as required per guidelines. The borrower has lived in their primary residence less than (redacted) months and previously rented, no verification of rental payment history in the file. Mortgage history on credit only covers (redacted) months.

Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified employment history - Borrower has been self-employed since XX/XXXX.;

02/25/2026 EV2/B Investor Acknowledged Exception

02/09/2026 Refer to CRED 0081. Waiting for investor to confirm which guidelines were to be used.

Funded

1032233

XXXX

1170176

03/04/2026

Credit

Missing evidence of Hazard Insurance

HAZ 0005

Closed

Missing evidence of insurance to verify sufficient coverage and payment of (redacted) used to qualify.

03/11/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) months for the subject plus (redacted) months for additional REO.

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mortgage history for (redacted) months.

;

03/11/2026 Finding is cleared with the attached EOI. - 03/11/2026 Finding is cleared with the attached EOI.

Funded

1032434

XXXX

1174630

04/01/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing monthly income verification. Loan approved as (redacted) month bank statement loan. (redacted) investments statements utilized in lieu of bank statements. (redacted) provided commission reports (redacted) which are not acceptable for income verification. (redacted) investment statement (redacted) reflects "Transferred From" with no further description. Unable to determine DTI. Max (redacted) DTI.

04/30/2026

Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requires (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/30/2026 Finding is cleared. (redacted) transfers not considered in qualifying since the (redacted) Fee statement was not provided to confirm (redacted) income. (redacted) (redacted) statements reconciled with (redacted) Fee statements to source (redacted) income, which (redacted) confirmed as regular business income. - 04/30/2026 Finding is cleared. (redacted) transfers not considered in qualifying since the Advisor Fee statement was not provided to confirm "Other Planning" income. (redacted) (redacted) statements reconciled with Advisor Fee statements to source "Other Planning" income, which (redacted) confirmed as regular business income.
04/29/2026 Reconciled the statements. Missing (redacted)Advisor Fee statement for (redacted)Advisor Fees - Other Planning. (redacted)documents in file are from (redacted), not (redacted)).
04/21/2026 Loan file does not appear to contain the statements for Advisor Fees(redacted) showing master account of (redacted).
04/14/2026 (redacted) letter states income labeled as Other Planning is from advisory fees, which is not reflected on the (redacted) acct (redacted) statements.

Funded

1032438

XXXX

1164386

02/09/2026

Credit

Missing Lease Agreement and/or Not Executed

LEAS 0001

Closed

The file is missing the lease agreement for unit (redacted). Both units are leased per appraisal, and (redacted) notes that the lease amounts are used for qualifying. Only the lease for unit (redacted) is provided in the file (redacted).

03/05/2026

Verified reserves - (redacted) months verified reserves > (redacted) months required.; Verified credit history - (redacted) Representative credit score exceeds the minimum required credit score of (redacted) by (redacted) Points.

; Verified housing payment history - (redacted) mortgage history for (redacted) months.

;

03/05/2026 Finding is cleared with the attached lease agreement. - 03/05/2026 Finding is cleared with the attached lease agreement.

Approved

1032438

XXXX

1164402

02/09/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Closed

Missing complete asset documentation to support cash to close and reserves. Per guidelines, (redacted) months statements are required. The file included incomplete statements for (redacted) accounts, representing only (redacted) month:

(redacted) - only page (redacted) out of (redacted) pages of the (redacted) statement provided (redacted), missing additional monthly statement.

(redacted) - only pages (redacted) and (redacted) out of (redacted) pages of the (redacted) statement provided (redacted), missing additional monthly statement.

03/16/2026

03/16/2026 Finding is cleared with the attached two month bank statements. - 03/16/2026 Finding is cleared with the attached two month bank statements.

Approved

1032655

XXXX

1168059

02/23/2026

Credit

Entity Documentation is Insufficient

CRED 0143

Closed

Missing the required documentation for (redacted):

- Tax Identification Number

- Articles of Incorporation

- Certificate of Good Standing

- Single Member or Multiple Member Borrowing Certificate (see forms)

03/25/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

03/25/2026 Finding is cleared with the attached (redacted) Borrowing Certificate for Use With Multiple Member (redacted). - 03/25/2026 Finding is cleared with the attached LLC Borrowing Certificate for Use With Multiple Member LLC's.

03/14/2026 Yes as long as it is not required to be notarized.

03/09/2026 Received Business Purpose and Occupancy Affidavit. Missing is the LLC Borrowing Certificate for Use With Multiple Member LLC’s, which is a separate form.

03/03/2026 Finding is partially cleared with the attached EIN, Certificate of Formation, and SOS. -- Finding remains. Still missing the executed Multiple Member Borrowing Certificate.

Approved

1032713

XXXX

1170807

03/09/2026

Credit

HOA Payment is not verified

CRED 0133

Closed

04/06/2026

04/06/2026 HOA payment for (redacted)provided. Finding cleared.

Approved

1032713

XXXX

1170984

03/10/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Closed

04/09/2026

04/09/2026 Asset documentation sufficiently provided. Finding resolved.

Approved

1032713

XXXX

1170985

03/10/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

04/09/2026

04/09/2026 Proof of PITI for all non-subject properties provided. Finding resolved.

Approved

1032713

XXXX

1172108

03/16/2026

Credit

Insufficient verified liquid reserves

CRED 0099

Closed

04/09/2026

04/09/2026 Borrower qualifying asset documentation provided covering both cash to close and reserve requirements. Finding resolved.

Approved

1032713

XXXX

1172138

03/16/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

04/08/2026

04/08/2026 K1s for XXXX works provided. Finding resolved.

Approved

1032719

XXXX

1162126

01/27/2026

Compliance

LE / CD Re-Disclosure Made Post-Consummation

TRID 0146

Acknowledged

Loan closed (redacted). PCCD issued (redacted). EV2, no change to compliance results.

Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).; Low DTI - (redacted) DTI < (redacted) Max Allowed.;

01/28/2026 EV2/B - Initial Grade

Funded

1032719

XXXX

1162323

01/28/2026

Property

Appraisal is Incomplete

APPR 0002

Closed

The appraiser to address (redacted) HOA Dues for the PUD Property.

02/09/2026

Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).; Low DTI - (redacted) DTI < (redacted) Max Allowed.;

02/09/2026 Finding is cleared with the attached revised appraisal report, HOA (redacted) annually. - 02/09/2026 Finding is cleared with the attached revised appraisal report, HOA (redacted) annually.

Funded

1032719

XXXX

1164404

02/09/2026

Compliance

Estimated Property Costs over Year 1 Are Not Accurate

TRID 0204

Acknowledged

NEW BASED ON RECEIPT OF UPDATED APPRAISAL - Lender disclosed Estimated Taxes, Insurance & Assessments of (redacted) with estimated property costs over (redacted) year of (redacted) ((redacted) mths). The actual Estimated Taxes, Insurance & Assessments were (redacted) per month. Estimated property costs over (redacted) year should have been (redacted). Variance appears to be in the HOA Fees. Per the (redacted) the lender used (redacted), actual amount verified (redacted).

Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).; Low DTI - (redacted) DTI < (redacted) Max Allowed.;

03/17/2026 EV2/B - Recd PCCD, cover letter, and courier tracking receipt to evidence package is in transit to borrower within (redacted) days from discovery.
02/17/2026 Attached updated (redacted)is insufficient to satisfy the finding. Missing PCCD and cover letter addressing the reason for re-disclosure.

Funded

1032760

XXXX

1164387

02/09/2026

Credit

Entity Documentation is Insufficient

CRED 0143

Acknowledged

Missing the Operating Agreement for (redacted) as required per guidelines for single member entities. Per the formation documents, the company was originally owned by multiple members (redacted) but no ownership percentages are provided. Per the corporate resolution the borrower is now (redacted) owner. The business bank account statement (redacted) reflects three other authorized signers for the account.

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed since (redacted).;

04/15/2026 EV2/B - Post-consummation dated (redacted) letter confirms borrower is (redacted) owner of the borrowing entity.
02/25/2026 Escalated to investor for review.
02/18/2026 Partially agree, according to the stock ledger borrower is (redacted) owner which does not correspond with the corporate resolution. Missing updated stock ledger evidencing borrower is (redacted) owner.

Approved

1032846

XXXX

1166997

02/19/2026

Compliance

Missing Affiliated Business Disclosure

COMP 0010

Closed

Missing affiliated business disclosure for (redacted). Appraisal Management and Flood Cert Fees were paid to (redacted), an affiliate of (redacted) per FACTS (redacted). (redacted) was not listed on ABD in file.

03/05/2026

Verified reserves - (redacted) months of verified reserves, (redacted) required.; Low DTI - Low DTI of (redacted), up to (redacted) acceptable.

;

03/05/2026 Finding is cleared with the attached ABD. - 03/05/2026 Finding is cleared with the attached ABD.

Funded

1032846

XXXX

1168770

02/25/2026

Credit

Missing Tax Transcript(s)

CRED 0091

Acknowledged

Missing transcripts to support the (redacted) (pending, see (redacted)) and the (redacted), as required per guidelines.

Verified reserves - (redacted) months of verified reserves, (redacted) required.; Low DTI - Low DTI of (redacted), up to (redacted) acceptable.

;

05/06/2026 EV2/B - Finding is downgraded with the attached post-consummation dated (redacted) tax transcript. (redacted)transcript reflects no record of return filed.

Funded

1032846

XXXX

1168778

02/25/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing the borrower's (redacted). Reviewer used the figures from the income calculator (redacted). Only (redacted) is in the file, two years (redacted) required per guidelines.

03/05/2026

Verified reserves - (redacted) months of verified reserves, (redacted) required.; Low DTI - Low DTI of (redacted), up to (redacted) acceptable.

;

03/05/2026 Finding is cleared with the attached (redacted). - 03/05/2026 Finding is cleared with the attached (redacted).

Funded

1032851

XXXX

1166441

02/17/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

The HOI for the primary residence, (redacted), does not reflect the annual cost. The insurance reflects it is paid by the mortgagee, but the mortgage statement in the file does not reflect that it pays escrows (redacted). There is an escrow savings account but it does not disclose the insurance premium amount and unable to confirm this is included in the (redacted) payment reported on credit. Lender appears to have used (redacted)/month (redacted).

03/16/2026

Verified reserves - Required (redacted) months + (redacted) months for each of (redacted) REO’s of reserves with verified assets of (redacted) months. ; Verified credit history - Required FICO of (redacted) with actual FICO of (redacted). ; Disposable Income - The loan has residual income of (redacted) monthly. ;

03/16/2026 Finding is cleared with the attached revised (redacted) and email form the insurer confirming the amount of the insurance premium for the primary residence. The mortgage statement in file reflects an escrow account and the monthly escrow payment is sufficient to cover the tax liability (redacted). - 03/16/2026 Finding is cleared with the attached revised (redacted) and email form the insurer confirming the amount of the insurance premium for the primary residence. The mortgage statement in file reflects an escrow account and the monthly escrow payment is sufficient to cover the tax liability(redacted).

Funded

1032907

XXXX

1170990

03/10/2026

Compliance

Missing Prepayment Penalty Term

PPP 0004

Closed

(redacted) lock confirmation included a prepayment penalty, however no prepayment penalty assessed on Note. Missing investor acknowledgement of change in loan terms.

04/06/2026

Low LTV/CLTV/HCLTV - (redacted) LTV w/a max LTV of (redacted).
; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).
; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).
; Verified housing payment history - (redacted) mths of mtg history verified (redacted). Guidelines require (redacted) .
;

04/06/2026 TPR confirmed the updated lock confirmation showing pricing with no prepayment penalty was uploaded to trailing docs. - 04/06/2026 TPR confirmed the updated lock confirmation showing pricing with no prepayment penalty was uploaded to trailing docs.

04/06/2026 All presentments must be uploaded to the corresponding exception, not trailing docs, or TPR does not receive attachment notification.

04/06/2026 Missing copy of the updated investor lock confirmation showing pricing with no prepayment penalty.

Funded

1032907

XXXX

1171044

03/10/2026

Property

Appraisal Value is not supported by comparables

APPR 0039

Acknowledged

The appraiser did not provide two comparables located in the same city as the subject for rural property. The file did not include an approved exception.

03/17/2026 EV2/B - Investor Acknowledged Exception; The CU score is (redacted). The LTV is conservative at (redacted). The appraisal was reviewed by (redacted) Credit and deemed acceptable.

Funded

1032907

XXXX

1171706

03/12/2026

Credit

Missing Business Purpose Attestation

CRED 0112

Closed

Missing cash-out purpose letter from borrower on cash-out investment refinance.

04/06/2026

04/06/2026 Agree, GL requirement pertains to DSCR loans. - 04/06/2026 Agree, GL requirement pertains to DSCR loans.

Funded

1032928

XXXX

1175138

04/06/2026

Compliance

Loan Disbursement Date and Interest From on HUD do not match

HUD 0028

Closed

Final PC CD / HUD shows a disbursement date of xx/xx/xxxx and an interest from date of xx/xx/xxxx. (Page xxx,xxx)

06/05/2026

06/05/2026 Copy of cancelled check confirming refund of interest received for dry funding state.
05/26/2026 Missing evidence of delivery to borrower of the refund check(redacted), which was issued after the PCCD. A copy of the cancelled check can also be accepted.
05/14/2026 Finding remains as the tolerance for(redacted) is (redacted) day of interest. Final PC CD / HUD shows a disbursement date of (redacted) and an interest from date of (redacted).
04/30/2026 Missing final dry funding PCCD.

Funded

1032928

XXXX

1175655

04/09/2026

Credit

Missing Letter of Explanation

CRED 0104

Closed

Missing LOX regarding XXXX payments from (redacted) into business bank account. Multiple deposits monthly from (redacted) to (redacted) business checking. Unknown if (redacted) connected to borrower (redacted) and the (redacted) business?

04/30/2026

04/30/2026 Finding is cleared. DTI < (redacted) with deposits excluded.

Funded

1032996

XXXX

1172884

03/19/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval and AUS, only the (redacted) is in the file (redacted). Per guidelines, loans must be manually underwritten but AUS is required at CTC.

03/24/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted). ; Verified reserves - Required (redacted) months of reserves with verified assets of (redacted) months. ; Low DTI - Maximum DTI of (redacted) with review DTI of (redacted). ;

03/24/2026 Finding is cleared with the attached copy of the loan approval. - 03/24/2026 Finding is cleared with the attached copy of the loan approval.

Approved

1033010

XXXX

1171702

03/12/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing business narratives for both businesses used to qualify, (redacted) and (redacted).

04/07/2026

Low DTI - DTI (redacted), up to (redacted) acceptable.;

04/07/2026 Investor accepts the use of the tax preparer questionnaire being used interchangeably with the business narrative. Attached (redacted) email confirms the use of business assets for the purchase will not impact the business. - 04/07/2026 Investor accepts the use of the tax preparer questionnaire being used interchangeably with the business narrative. Attached (redacted)email confirms the use of business assets for the purchase will not impact the business.
03/27/2026 Lender uses the tax preparer questionnaire interchangeably with the business narrative. The tax preparer does not provide all the required information.
--
--
Per guidelines, Provide a signed written business narrative. Must include:
Description of business operation
Primary products and / or services
Who is the customer base
Number of full-time employees,
Any other information that would help determine eligible deposits
03/25/2026 Attached tax preparer questionnaire indicates that the use of funds will impact the businesses.

Funded

1033019

XXXX

1176665

04/16/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

04/23/2026

Disposable Income - The required residual income is (redacted) and the loan has residual income of (redacted) monthly. ; Verified reserves - Required (redacted) months of reserves with verified assets of (redacted) months. ; Verified credit history - Required FICO of (redacted) with actual FICO of (redacted) . ;

04/23/2026 Copy of executed final CD received to verify loan terms.

Approved

1033092

XXXX

1168788

02/25/2026

Credit

Unacceptable Mortgage History

CRED 0001

Closed

Missing copy of the final CD from the simultaneous refinance of XXXX, XXXX A/# ending in XXXX.

03/04/2026

03/04/2026 Copy of executed CD received. - 03/04/2026 Copy of executed CD received.

Funded

1033096

XXXX

1168787

02/25/2026

Credit

Unacceptable Mortgage History

CRED 0001

Closed

Missing copy of the final CD from the simultaneous refinance of XXXX, XXXX A/# ending in XXXX.

03/04/2026

03/04/2026 Copy of executed CD received. - 03/04/2026 Copy of executed CD received.

Funded

1033103

XXXX

1167874

02/23/2026

Compliance

Missing CD(s).

TRID 0208

Acknowledged

02/26/2026 EV2/B Non-Material - no fee violations

Funded

1033103

XXXX

1167878

02/23/2026

Compliance

Missing Home Loan Toolkit

TRID 0133

Closed

02/27/2026

02/27/2026 Finding is cleared with the attached copy of the disclosure tracking to evidence delivery of the HLTK to borrower.

Funded

3099309

XXXX

1168434

02/24/2026

Credit

Back-end Ratio exception (DTI)

CRED 0004

Closed

04/06/2026

04/06/2026 Revised (redacted)and (redacted) income provided reflecting income of (redacted)as used for qualifying. Finding cleared.
03/06/2026 Qualifying income (redacted) does not match to the income calculators qualifying income of (redacted) with (redacted) expense ratio required (redacted). Missing updated (redacted) reflecting the calculated qualifying income of (redacted).

Funded

3099384

XXXX

1175677

04/09/2026

Compliance

Disclosed Finance Charge Must Be >= Actual Finance Charge - $100

TRID 0088

Acknowledged

Missing PC CD disclosing credit to cure of (redacted). Final HUD (redacted) shows a (redacted) refund to borrower. Lender (redacted) shows the same exception and calculated finance charge as reviewer (redacted). -- The disclosed finance charge (redacted) is (redacted) below the actual finance charge (redacted). The Truth in Lending Act considers the disclosed finance charge inaccurate if it is more than (redacted) below the actual finance charge. (redacted)

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years.; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/17/2026 EV2/B - Recd PCCD, cover letter, refund check (redacted) and courier tracking receipt to evidence delivery to borrower was completed within (redacted) days from consummation.

Approved

3099609

XXXX

1170709

03/06/2026

Compliance

Missing Evidence of Re-disclosure and a valid COC for an increase in the "Cannot Increase Category" fee(s) from the prior disclosed Loan Estimate/Closing Disclosure

TRID 0195

Closed

Missing COC for CD issued (redacted) for the addition of a Lock Extension fee of (redacted) and for CD issued (redacted) for added Loan Level Price Adjustment fee of (redacted).

04/21/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted).; Verified reserves - (redacted) months of verified reserves when GL required zero.; Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) since (redacted).;

04/21/2026 Finding is cleared with the lock confirmations in file (redacted) showing pricing adjustments for rate lock extension and ad hock exception. - 04/21/2026 Finding is cleared with the lock confirmations in file (redacted) showing pricing adjustments for rate lock extension and ad hock exception.
04/21/2026 Under review
04/21/2026 Partially, agree. Lock confirmation on (redacted) shows a price adjustment on (redacted) of (redacted) for rate lock extension, however disclosed extension fee of (redacted)> (redacted).
04/15/2026 Missing evidence of relock from (redacted) and lock pricing change from(redacted).
04/01/2026 Previously upload included CD/COC dated (redacted). Missing is COC for CD issued(redacted).
03/19/2026 Recd redisclosed CD and corresponding COC date (redacted). -- Finding remains. COC for redisclosed CD stated (redacted) doesn't provide the reason for the pricing adjustment. Also missing COC for redisclosed CD issued (redacted).
03/19/2026 Recd redisclosed CD and corresponding COC date (redacted). -- Finding remains. Missing COC for redisclosed CD issued (redacted).

Approved

3099609

XXXX

1171293

03/11/2026

Property

Non-Warrantable Condominium

COND 0011

Acknowledged

Missing (redacted) exception approval for the condo project in phase (redacted), with less than (redacted) of the units conveyed or under contract to primary or second home purchasers, as noted on the Warranty form (redacted).

03/17/2026 EV2/B - Investor Acknowledged Exception

Approved

3099609

XXXX

1171830

03/13/2026

Credit

Missing Tax Transcript(s)

CRED 0091

Closed

Missing transcripts to support the history of retirement income for both borrowers.

04/15/2026

04/15/2026 Finding is cleared with the attached two years wage and income transcripts. - 04/15/2026 Finding is cleared with the attached two years wage and income transcripts.
03/19/2026 Missing is tax transcripts as required per guidelines - other income.

Approved

3099738

XXXX

1170289

03/05/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Closed

Missing borrower executed final loan application.

04/09/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified housing payment history - (redacted) months of verified mortgage payments paid (redacted).;

04/09/2026 Finding is cleared with the attached final application signed by the borrower post-consummation. - 04/09/2026 Finding is cleared with the attached final application signed by the borrower post-consummation.

Approved

3100080

XXXX

1169549

03/02/2026

Credit

Loan Closed for Business with No Guarantors

CRED 0144

Acknowledged

Missing personal guaranty. Note signed as Managing Member.

Verified reserves - (redacted) mths reserves w/a minimum requirement of (redacted).; Low DTI - (redacted) DTI. - Max (redacted) DTI.; Verified housing payment history - (redacted) mths of mtg history verified (redacted). Guideline requirement (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/13/2026 EV2/B - Finding is downgraded with the attached post-consummation dated guaranty.

03/11/2026 A guaranty form was not in file.

Approved

3100080

XXXX

1169702

03/02/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

Missing Business Purpose and Occupancy Affidavit.

04/13/2026 EV2/B - Finding is downgraded with the attached post-consummation dated executed business purpose and occupancy affidavit.

Approved

3100098

XXXX

1173555

03/25/2026

Compliance

Estimated Property Costs over Year 1 Are Not Accurate

TRID 0204

Acknowledged

Final CD dated (redacted) disclosed Estimated Property Costs over Year (redacted) of (redacted). Review calculated (redacted), (redacted) months (redacted). (redacted), Taxes (redacted) based on (redacted) of the sales price, new construction)

Verified reserves - (redacted) mths reserves w/a minimum requirement of (redacted).;

04/06/2026 Received copy of LOE with PCCD, and email tracking. EV2/B for post-close remediation within (redacted) days of discovery.
04/03/2026 Received PCCD with corrected escrow and annual property cost. Need copy of LOE and confirmation that LOE and PCCD were mailed together to borrower.

Funded

3100152

XXXX

1173540

03/25/2026

Credit

Missing Hazard Insurance Proof of Premium

HAZ 0001

Closed

Hazard insurance (redacted) has property address of (redacted) with coverage of (redacted) and premium of (redacted). RCE (redacted) reflects (redacted) family unit with (redacted) sq ft with coverage required (redacted). The property is (redacted) units. The file included x separate insurance policies: (redacted) (redacted) with premium of (redacted) and (redacted) (redacted) with premium of (redacted) with all reflecting an expiration date of (redacted). The final CD (redacted) confirmed the premium was paid in the amount of (redacted); however, the other two premiums were not paid. (Title reflects address of (redacted))

05/05/2026

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.

; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths mtg history (redacted). Guideline requirement (redacted).;

05/05/2026 Finding is cleared with the attached insurance renewals for units (redacted) and (redacted). Attached email confirmation from the insurer confirms, There are two structures on the property. One is duplex, and the other is a single-family home. Two policies are in place; one covering the duplex, and the other coverage the single family. - 05/05/2026 Finding is cleared with the attached insurance renewals for units (redacted) and (redacted). Attached email confirmation from the insurer confirms, There are two structures on the property. One is duplex, and the other is a single-family home. Two policies are in place; one covering the duplex, and the other coverage the single family.
04/07/2026 Hazard insurance for (redacted) policy(redacted) differs from policy provided. The policy provided lists(redacted) - policy (redacted). Both addresses are for differing units of subject (redacted) unit property. Confirm HOI policy (redacted) is not also for subject property.

Funded

3100152

XXXX

1173830

03/26/2026

Compliance

Scrivener's Error

NOTE 0060

Closed

Note and Mortgage reflect subject property address as (redacted) (redacted). However, preliminary title reflects property address as (redacted). Appraisal (redacted) reflects (redacted) but states (redacted) subject is a (redacted) on (redacted).

04/16/2026

04/16/2026 TPR set in error. Address in the Note matches to (redacted) address lookup. (redacted) search (redacted) results in (redacted). - 04/16/2026 TPR set in error. Address in the Note matches to (redacted) address lookup. (redacted) search (redacted) results in(redacted).

Funded

3100152

XXXX

1173847

03/26/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

The DTI of (redacted) exceeds the max allowed of (redacted). Origination calculated the PITIA as (redacted) utilizing monthly insurance amount of (redacted). The file included evidence of insurance for each unit, (redacted), reflecting property location (redacted) with a premium amount of (redacted), (redacted) with a premium amount of (redacted) and (redacted) with a premium amount of (redacted) resulting in a monthly insurance amount of (redacted), and total PITIA of (redacted).

05/05/2026

05/05/2026 DTI < (redacted) with two updated policy premiums considered. Refer to (redacted) - Missing evidence policy for (redacted) includes unit (redacted). - 05/05/2026 DTI < (redacted) with two updated policy premiums considered. Refer to HAZ 0001 - Missing evidence policy for (redacted) includes unit (redacted).

Funded

3100182

XXXX

1167166

02/19/2026

Compliance

LE is not within 3 business days of Change of Circumstance.

TRID 0162

Acknowledged

Corresponding LE for COC issued (redacted) was not disclosed until (redacted), more than (redacted business days after date of change. (redacted

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Low LTV/CLTV/HCLTV - (redacted) LTV w/a minimum requirement of (redacted).

;

Client: EV2/B Non-Material (no fee violations)

Funded

3100182

XXXX

1168575

02/25/2026

Property

Appraisal Discrepancy

APPR 0076

Closed

The (redacted) and approval reflect the appraised value as (redacted). The appraisal in the file reflects a value of (redacted). The UCDP reports include an appraisal dated (redacted), reflecting a value of (redacted) but that appraisal is not in the file. Missing the second appraisal as well as justification to use the higher appraised value, or updated approval and (redacted).

03/09/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Low LTV/CLTV/HCLTV - (redacted) LTV w/a minimum requirement of (redacted).

;

03/09/2026 Finding is cleared with the attached copy of the first appraisal. LTV calculated using the lesser sales price. - 03/09/2026 Finding is cleared with the attached copy of the first appraisal. LTV calculated using the lesser sales price.

Funded

3100182

XXXX

1168576

02/25/2026

Credit

Missing Employment doc (VOE)

CRED 0007

Closed

The file is missing the business narrative. Per the guidelines, a signed business narrative is required.

04/13/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Low LTV/CLTV/HCLTV - (redacted) LTV w/a minimum requirement of (redacted).

;

04/13/2026 Finding is cleared with the attached Articles and (redacted) search confirming borrower is owner of(redacted). Borrower earns real estate commission through (redacted) which is deposited to the personal account, but is owner of (redacted). Business name was not filed until (redacted). License search confirms active license since (redacted) and employment with (redacted) dated (redacted). - 04/13/2026 Finding is cleared with the attached Articles and(redacted) search confirming borrower is owner of (redacted). Borrower earns real estate commission through (redacted) which is deposited to the personal account, but is owner of (redacted). Business name was not filed until (redacted). License search confirms active license since (redacted) and employment with(redacted) dated (redacted).
03/25/2026 Revised (redacted) showing self-employment business name of (redacted) is insufficient to satisfy the finding. Business name on the (redacted) in file is (redacted), which matches to the name of employer on payroll posted to (redacted) and the business narrative.(redacted) does not verify the business name and personal bank statements were used for qualifying under the bank statement program.
03/25/2026 Revised (redacted) showing self-employment business name of (redacted)t is insufficient to satisfy the finding. Business name on the (redacted) in file is (redacted), which matches to the name of employer on payroll posted to (redacted) and the business narrative. (redacted) does not verify the business name and personal bank statements were used for qualifying under the bank statement program.
03/09/2026 Attached business narrative is for (redacted). The borrower's qualifying self-employment business is (redacted).

Funded

3100182

XXXX

1176186

04/13/2026

Credit

Missing CPA Letter

CRED 0138

Closed

(redacted) letter indicates borrower has owned her real estate business since (redacted), but license search shows that the real estate license was not issued until (redacted) and Articles/(redacted) shows the business name, (redacted)t, was not filed un (redacted). (redacted) to address the discrepancy.

05/21/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Low LTV/CLTV/HCLTV - (redacted) LTV w/a minimum requirement of (redacted).

;

05/21/2026 Finding is cleared with the revised (redacted) and UW cert. (redacted) confirmation of (redacted) years self-employment is supported by real estate license. - 05/21/2026 Finding is cleared with the revised (redacted) and UW cert. (redacted) confirmation of (redacted) years self-employment is supported by real estate license.
04/21/2026 (redacted) to address discrepancies noted with borrowers self-employment. Per the attached (redacted) letter the borrower has been self-employed since (redacted), however real estate license was not issued until (redacted).

Funded

3100293

XXXX

1173059

03/20/2026

Credit

Credit Documentation is Insufficient

CRED 0093

Closed

Missing HELOC history to ensure no draws have been made in the past (redacted) months, as required per guidelines for rate/term refinances.

04/07/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

;

04/07/2026 Credit supplement provided showing no draws within the last (redacted) months. Finding resolved. - 04/07/2026 Credit supplement provided showing no draws within the last (redacted) months. Finding resolved.
03/27/2026 Subordinate liens can be paid off and included in the new mortgage if they were used entirely to purchase the property or if there is evidence of no draws in the past (redacted) months, as required per guidelines for rate/term refinances.

Funded

3100584

XXXX

1172655

03/18/2026

Compliance

Missing Legal Description on Mortgage/DOT

DEED 0021

Closed

Missing attachment to the Mortgage with the legal description.

03/26/2026

Verified reserves - (redacted) months reserves required, borrower is receiving (redacted) months PITIA in cash out proceeds.; Verified credit history - FICO (redacted) minimum required (redacted) .;

03/26/2026 Mortgage with the legal description received. - 03/26/2026 Mortgage with the legal description received.

Approved

3100608

XXXX

1171511

03/12/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing the lender approval and the (redacted) from the file.

03/19/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Low DTI - DTI (redacted), up to (redacted) acceptable.;

03/19/2026 Finding is cleared with the attached Approval Notice and (redacted). - 03/19/2026 Finding is cleared with the attached Approval Notice and 1008.

Funded

3100608

XXXX

1171512

03/12/2026

Compliance

Loan Disbursement Date is on or before the required Right of Rescission Expiration Date

ROR 0009

Closed

Final CD issued (redacted) states a disbursement date of (redacted), the same day rescission ends per the NORTC. No PC CD or HUD in file to verify disbursement date was after the ROR Expiration Date. ((redacted) loan) (redacted)

03/19/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Low DTI - DTI (redacted), up to (redacted) acceptable.;

03/19/2026 Finding is cleared with the attached copy of the final dry funding CD. - 03/19/2026 Finding is cleared with the attached copy of the final dry funding CD.

Funded

3100608

XXXX

1172030

03/16/2026

Credit

VVOE dated outside of required timeframe

CRED 0072

Closed

Missing the (redacted)-day VOE for (redacted) from (redacted). The only verification is the WVOE dated (redacted), more than (redacted) days prior to closing (redacted).

03/19/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Low DTI - DTI (redacted), up to (redacted) acceptable.;

03/19/2026 Finding is cleared with the attached VOE completed within (redacted) days of the Note date. - 03/19/2026 Finding is cleared with the attached VOE completed within 10 days of the Note date.

Funded

3100608

XXXX

1172036

03/16/2026

Property

Missing Third Party Appraisal Review

APPR 0046

Closed

Missing Third Party Desk Review. (redacted) SSR in the file reflects a score of (redacted), per guidelines only a CU score of (redacted) or below is acceptable in lieu of a desk review.

03/19/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Low DTI - DTI (redacted), up to (redacted) acceptable.;

03/19/2026 Finding is cleared with the attached CDA. - 03/19/2026 Finding is cleared with the attached CDA.

Funded

3102657

XXXX

1168671

02/25/2026

Compliance

Missing Evidence of Re-disclosure and a valid COC for an increase in the "Cannot Increase Category" fee(s) from the prior disclosed Loan Estimate/Closing Disclosure

TRID 0195

Closed

Missing COC or General Credit for addition of Appraisal Review Fee on CD issued (redacted). --

03/16/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Verified employment history - Time with employer is (redacted) years.;

03/16/2026 Finding is cleared with previously provided re-disclosed LE and corresponding COC with the attached lender LOE. - 03/16/2026 Finding is cleared with previously provided re-disclosed LE and corresponding COC with the attached lender LOE.

03/11/2026 COC doesn't explicitly state why the appraisal review fee was added. Please clarify.

Funded

3102798

XXXX

1174132

03/30/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Loan approval is not in file.

04/08/2026

Low LTV/CLTV/HCLTV - (redacted) LTV/(redacted) CLTV w/a maximum allowed of (redacted).

; Verified housing payment history - (redacted) mths mtg history verified (redacted). Guideline requirement (redacted).;

Loan approval provided. Finding resolved. - 04/08/2026 Loan approval provided. Finding resolved.

Approved

3102798

XXXX

1174142

03/30/2026

Compliance

Missing Legal Description on Mortgage/DOT

DEED 0021

Closed

Legal Description is not attached to or contained within Mortgage. (redacted)

04/03/2026

04/03/2026 Received copy of Mortgage with Legal Description attached. Exception cleared. - 04/03/2026 Received copy of Mortgage with Legal Description attached. Exception cleared.

Approved

3102798

XXXX

1174175

03/30/2026

Compliance

Right of Recission Is Not on Correct Form

ROR 0011

Acknowledged

ROR completed on Form (redacted). Transaction is a combination of the first and second mortgages. The first mortgage is a lender to lender transaction. (redacted)

Client: EV2/B Subject is in (redacted), non-material.

Approved

3102798

XXXX

1174358

03/31/2026

Credit

Missing Employment doc (VOE)

CRED 0007

Closed

Missing evidence of entity existence dated within (redacted) days of closing. Per guidelines, Verification of business existence required within (redacted) business days of closing. Loan closed (redacted).

04/08/2026

04/08/2026 EV2/B - Post-close evidence of entity existence provided. - 04/08/2026 EV2/B - Post-close evidence of entity existence provided.

Approved

3102798

XXXX

1174645

04/01/2026

Credit

Title Issue affecting Lien Position

TITL 0003

Acknowledged

Missing sub-ordination agreement or termination of UCC: Title commitment reflects UCC Financing Statement recorded (redacted) (Item (redacted)).

04/23/2026 EV2/B Attached email from the closing agent confirms the post-consummation dated subordination agreement is in process of recording.
04/23/2026 Executed subordination agreement received. Missing is a LOE from the lender confirming intent to record or copy of filed agreement. (Agreement is dated post closing).
04/16/2026 Missing executed copy of the subordination agreement with evidence of filing.

Approved

3102834

XXXX

1172111

03/16/2026

Credit

Missing Copy of Quit Claim Deed

QCD 0001

Closed

Missing executed QCD transferring title from trust to borrowers as induvial(s). Deed in file is not executed (redacted).

04/03/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).; Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low DTI - Low DTI (redacted) w/a max allowed of (redacted).;

03/20/2026 Executed QCD received. - 03/20/2026 Executed QCD received.

Funded

3102834

XXXX

1172136

03/16/2026

Compliance

Estimated Property Costs over Year 1 Are Not Accurate

TRID 0204

Acknowledged

Final CD dated (redacted) disclosed Estimated Taxes, Insurance, and Assessments of (redacted) with Estimated Property Costs over (redacted) year of (redacted). Review calculated Estimated Taxes, Insurance, and Assessments of (redacted) with Estimated Property Costs over (redacted) year of (redacted). (Taxes (redacted) per mth, HOI (redacted), HOA (redacted))

04/03/2026 Curative docs for TRID 0205 also resolve this exception. EV2/B for post-close cure within 60 days of discovery.

04/03/2026 Received LOE dated 3/30/2026. LOE is not addressed to borrower, and is dated 5 days after PCCD. Need LOE addressed to borrower, and need affidavit confirming the LOE and PCCD were mailed together to the borrower.

03/26/2026 Corrected PC CD received. Missing LOE to borrower explaining reason for re-disclosure.

Funded

3102834

XXXX

1172143

03/16/2026

Compliance

The Lender Credit and/or the Principal Reduction was not sufficient to overcome the total fee variance.

TRID 0205

Acknowledged

Loan discount on the CD issued (redacted) increased from (redacted) to (redacted). Corresponding COC (redacted) reflects an explanation of change as the APR increased and county recording fees increased. This explanation is not sufficient to explain the increase in discount. (Original lock did not expire until (redacted)) -- A Lender Credit for Excess Charges of (redacted), Principal Reduction for Excess Charges of (redacted), and general or specific lender credit increases of (redacted) were applied to the total fee variance of (redacted) between the baseline disclosure and the actual fee amounts. Since the lender credits and principal reduction (if applicable) are less than the total fee variance amount, they are not sufficient to cure the variance.

04/03/2026 Received PCCD, LOE, XXXX Tracking and copy of refund check for (redacted) EV2/B for post-close cure within 60 days of discovery.

Funded

3102834

XXXX

1172613

03/18/2026

Credit

Missing Required Fraud Tool

CRED 0089

Closed

Missing updated fraud report w/all alerts sufficiently addressed. Report in file (redacted) is Auto Refer.

03/25/2026

03/25/2026 Finding is cleared with the attached fraud report. - 03/25/2026 Finding is cleared with the attached fraud report.

Funded

3102948

XXXX

1171373

03/11/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing business narrative and 3rd party verification of the borrower's percentage of ownership for self-employment (redacted)

03/30/2026

Verified reserves - (redacted) months verified reserves when GL required none.; Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - Low DTI of (redacted) < (redacted) Max Allowed.;

03/30/2026 Finding is cleared with the attached business narrative and Fictitious Name Detail. Business is the name of the borrower DBA (redacted). Borrower is listed in the owner information section of the Fictitious Name Detail. - 03/30/2026 Finding is cleared with the attached business narrative and Fictitious Name Detail. Business is the name of the borrower DBA (redacted). Borrower is listed in the owner information section of the Fictitious Name Detail.

Funded

3102948

XXXX

1171856

03/13/2026

Credit

Missing Evidence of sale of property owned

HUD 0011

Closed

Missing settlement statement/seller's CD from the concurrent sale of the departure (redacted) to support exclusion from DTI and funds to close. Only the purchase contract is in the file.

03/30/2026

03/30/2026 Finding is cleared with the attached seller CD. - 03/30/2026 Finding is cleared with the attached seller CD.

Funded

3103017

XXXX

1175710

04/09/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final (redacted), REO section, does not document mortgages associated with REO owned by borrower. (redacted) should include all REO with mortgages matched

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths mortgage history paid (redacted). Guideline requirement (redacted).;

04/09/2026 EV2/B Non-material corrections to 1003.

Approved

3103032

XXXX

1169743

03/03/2026

Compliance

Missing Home Loan Toolkit

TRID 0133

Closed

Missing Evidence of delivery of the Home Loan Toolkit disclosure.

03/13/2026

03/13/2026 Finding is cleared with the attached screen prints from the lender LOS showing that the HLTK was included in the initial disclosure package that was delivered to borrower on (redacted) Finding is cleared with the attached screen prints from the lender LOS showing that the HLTK was included in the initial disclosure package that was delivered to borrower on (redacted).

Approved

3103032

XXXX

1169750

03/03/2026

Compliance

Estimated Total Minimum/Maximum Payment Amount does not match the Disclosed Closing Disclosure Projected Payments Table (12 CFR 1026.37(b)(3))

TRID 0092

Acknowledged

Unable to reconcile the disclosed estimated taxes, insurance, and assessments of $XXXX on the final CD dated XXXX to the IEADS or the documents in the loan file. IEADS reflects taxes of $XXXX and Haz Ins, Fires Ins of $XXXX. Tax amount tied to the tax cert. Unable to validate Insurance. HOI policy $XXXX. XXXX. Review calculated taxes $XXXX, ins $XXXX for total monthly escrows of XXXX.

03/26/2026 EV2/B Post-Closing Corrective Action - LOE, PC CD, revised 1st payment letter and impound account disclosure provided to borrower.
03/20/2026 Corrected (redacted), PCCD, 1st payment letter and impound account disclosure received.
**Finding remains, pending receipt of LOE to the borrower explaining the reason for the changes.
03/13/2026 Missing final dry funding CD that corresponds with the final settlement statement. Disclosed escrowed property cost of (redacted)with Escrowed Property Costs over Year 1 of (redacted) is overstated. Actual taxes and insurance is (redacted) with property Costs over Year 1 of (redacted).

Approved

3103032

XXXX

1169809

03/03/2026

Credit

Missing Second Lien Note

NOTE 0005

Closed

Missing second lien note and mortgage to verify loan amount of $XXX and payment of XXXX.

03/13/2026

03/13/2026 Finding is cleared with the attached copy of the second lien note. - 03/13/2026 Finding is cleared with the attached copy of the second lien note.

Approved

3103068

XXXX

1172466

03/18/2026

Compliance

Loan Disbursement Date is on or before the required Right of Rescission Expiration Date

ROR 0009

Acknowledged

Missing PCCD / HUD showing disbursement date later than (redacted). ROR executed by (redacted) on (redacted) with a corrected expiration date of (redacted). Disbursement Date listed on CD signed at closing is (redacted). (redacted)

Low LTV/CLTV/HCLTV - Low LTV of (redacted).; Verified employment history - (redacted) has been self-employed for (redacted) years;

04/16/2026 EV2/B - Recd ROR with reopened rescission period, signed (redacted) expired (redacted).
04/03/2026 Re-opening rescission is required under this circumstance.
03/25/2026 Loan disbursed on the ROR expiration date.

Approved

3103068

XXXX

1173067

03/20/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing (redacted) verification that co-borrower (redacted) is exempt from property taxes on (redacted). Only an LOE is in the file (redacted).

04/07/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted).; Verified employment history - (redacted) has been self-employed for (redacted) years;

04/07/2026 Confirmed no property tax assessed by online resources. Additionally, evidence of ownership of (redacted) provided by non-occupying co-borrower as a (redacted). Finding resolved. - 04/07/2026 Confirmed no property tax assessed by online resources. Additionally, evidence of ownership of (redacted) provided by non-occupying co-borrower as a disabled veteran. Finding resolved.
03/25/2026 (redacted) website states, the exemption is for the disabled veteran's dwelling, which must be their principal residence. The property is not the primary residence, thus subject to propertyXXXX.

Approved

3103113

XXXX

1169853

03/03/2026

Credit

Undisclosed or Excluded Debt

CRED 0086

Closed

Child support per the final (redacted) is (redacted)/month, the only child support document in the file reflects (redacted). Missing additional child support obligation or corrected (redacted).

03/10/2026

03/10/2026 Lender qualified the borrower on the stated child support obligation of (redacted) as it is more conservative than using the actual documented liability of (redacted). - 03/10/2026 Lender qualified the borrower on the stated child support obligation of (redacted) as it is more conservative than using the actual documented liability of (redacted).

Funded

3103113

XXXX

1169858

03/03/2026

Credit

Missing Required Fraud Tool

CRED 0089

Closed

Missing valid fraud report - Reports in file pages (redacted) are Auto Refer and not all findings are addressed in the file. There is a XXXX excluded party ((redacted) seller) that requires additional review, no comments or certification regarding this party.

03/10/2026

03/10/2026 Finding is cleared with the attached fraud report and (redacted) search. - 03/10/2026 Finding is cleared with the attached fraud report and (redacted) search.

Funded

3103362

XXXX

1174913

04/03/2026

Credit

Non-Arms Length Transaction

CRED 0026

Acknowledged

Non-Arms Length - Borrower is a XXXX and he works and maintains his license through (redacted) who is the subjects loan broker, (redacted). LOE from borrower re: relationship between broker and borrower for exception approval (redacted). Loan Approval not provided to verify exception approval.

Verified reserves - (redacted) months of verified reserves using cash-out proceeds w/a minimum requirement of (redacted).; Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement (redacted).;

04/22/2026 EV2/B - Investor acknowledged Exception

04/15/2026 Missing investor acknowledgement of the non-arm's length transaction.

Approved

3103362

XXXX

1175073

04/06/2026

Credit

Condo Documentation is Insufficient

COND 0002

Closed

Missing condo project Questionnaire not greater than (redacted) days at time of closing.

04/15/2026

04/15/2026 Finding is cleared with the attached condo questionnaire completed within (redacted) days of closing. - 04/15/2026 Finding is cleared with the attached condo questionnaire completed within 90 days of closing.

Approved

3103362

XXXX

1175085

04/06/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing Loan Approval.

04/13/2026

04/13/2026 Lender approval provided. Finding resolved.

Approved

3103362

XXXX

1175089

04/06/2026

Property

Missing Third Party Appraisal Review

APPR 0046

Closed

Missing CDA which is required on all properties per DSCR Core matrix.

04/15/2026

04/15/2026 Lender confirmed guidelines supersede the matrix. Guideline allows the use of a CDA with CU score (redacted) or less. File contains CU score (redacted). - 04/15/2026 Lender confirmed guidelines supersede the matrix. Guideline allows the use of a CDA with CU score 2.5 or less. File contains CU score < (redacted).

Approved

3103395

XXXX

1172415

03/17/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final (redacted) section of REO indicates that the REO the owns does not have mortgages. Borrower owns multiple REO with documented mortgages. (redacted) should include REO with ALL mortgages matched

Verified reserves - (redacted) mths cash-out proceeds used for reserves verified w/ a minimum requirement of (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted) LTV - Max (redacted) LTV;

03/17/2026 EV2/B - Non-material corrections to (redacted)

Funded

3103395

XXXX

1172421

03/17/2026

Credit

Unacceptable Mortgage History

CRED 0001

Acknowledged

Missing 12 month mortgage payment history for REO located at (Redacted). (redacted) mortgage statement with (redacted) (redacted) reflects (redacted) payment made. Credit report reflects previous mortgage holder, (redacted), payment history per credit report (redacted) thru (redacted). Missing (redacted) and (redacted). Note dated (redacted).

04/29/2026 EV2/B - Investor Acknowledged Exception
04/29/2026 CBR reflects DLA of (redacted) however, the trended data below reflects actual pay for 12/25 as (redacted)which indicates the payment was paid to the new servicer XXXX. (The (redacted) (redacted)statement does not reflects any accessed fees in the prior payments breakdown. Investor Exception required to waive verification of the (redacted) payment for this non-subject REO. (redacted) mths verified (redacted) Escalated to investor (redacted).
04/23/2026 Agree that evidence of the (redacted) payment is not required based on the application date. Finding remains pending verification of the (redacted) payment.
03/24/2026 Application date (redacted)with mortgage rating confirmed thru (redacted). Missing credit supplement confirming (redacted)payment was paid.

Funded

3103509

XXXX

1177846

04/23/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

The file is missing evidence of primary residence. The borrower lives rent free with parents (LOE pxxx) while in (redacted) but rents in (redacted) where he works. Per the DSCR guidelines, Evidence of a primary residence is required with either proof of ownership or active lease in place if renting.

Low LTV/CLTV/HCLTV - (redacted) LTV w/a maximum allowed of (redacted) .
; Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .
; Verified housing payment history - (redacted) mths mtg history paid (redacted) . Guideline requirement (redacted) .
;

04/23/2026 EV2/B - Lender approved exception - The file included an approved exception (redacted) citing compensating factors of FICO (redacted) points, LTV (redacted) or more, (redacted) housing history, DSCR (redacted) above, reserves greater than (redacted)months.

Funded

3103578

XXXX

1172846

03/19/2026

Credit

Trust Agreement is Incomplete

TRST 0003

Closed

Trust Certification as of the date of the loan transaction is not in file. The loan approval (pg xxx) requires an updated Certification of Trust– New Trust Cert to be signed/notarized at Closing (Cert needs to be within 6 months of note date). Full Trust Documents are included (Page xx).

04/13/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .;

04/13/2026 Certificate of trust within (redacted) months of closing provided. Finding resolved.

Approved

3103578

XXXX

1172847

03/19/2026

Compliance

Missing Affiliated Business Disclosure

COMP 0010

Closed

04/01/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .;

04/01/2026 Finding is cleared with the attached ABD.

Approved

3103578

XXXX

1172849

03/19/2026

Compliance

Missing Home Loan Toolkit

TRID 0133

Closed

04/01/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .;

04/01/2026 Finding is cleared with the attached disclosure tracking evidencing delivery to borrowers of the HLTK.

Approved

3103578

XXXX

1173294

03/24/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing evidence of taxes and insurance and property owned free and clear for the borrower's primary residence located at (redacted) and current secondary residence located at (redacted). For DTI purposes used monthly amount as reflected on 1003.

04/01/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .;

04/01/2026 Finding is cleared with the attached PDRs, EOI, HOA statements, and documented property taxes.

Approved

3103647

XXXX

1168902

02/26/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final 1003 pg 38 section of REO indicates that the borrower does not own any REO. Borrower owns primary residence with documented mortgage. 1003 should include all REO with mortgages matched.

Verified reserves -(redacted) mths verified reserves w/a minimum requirement o f(redacted) .
; Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
;

02/26/2026 EV2/B - Non-material corrections to (redacted)

Approved

3103686

XXXX

1169402

02/27/2026

Credit

Missing evidence of Hazard Insurance

HAZ 0005

Closed

03/24/2026

03/24/2026 Investor accepts the documentation provided. EOI dated (redacted) shows lender as additional insured. Borrower is paying on payment plan. Subject loan is not escrowed.
03/16/2026 Invoice is dated from (redacted). Lender must confirm that the monthly payments are paid current.
03/10/2026 Finding is partially cleared with the attached HOI. -- Missing hazard insurance paid receipt.

Funded

3103686

XXXX

1169413

02/27/2026

Credit

Unacceptable Mortgage History

CRED 0001

Closed

04/06/2026

04/06/2026 Confirmation of refinance to (redacted) for (redacted) provided. (redacted) payment history provided for (redacted) property showing no lates. Finding cleared.

Funded

3103785

XXXX

1172981

03/20/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final 1003 pg xxx section of REO indicates that the borrower does not own any REO. Borrower owns multiple REO with documented mortgages. 1003 should include all REO with mortgages matched

Verified reserves - 105 mths verified with cash-out proceeds for reserves. Minimum required is 3.; Low LTV/CLTV/HCLTV - 73.59%LTV - Max 80%LTV;

03/20/2026 EV2/B Non-material corrections to the (redacted)

Funded

3103785

XXXX

1172996

03/20/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

Layered Entity Exception: Title vested in (redacted). Parent entity is (redacted). Borrower is Trustee. (Pgxxx)

Verified reserves - 105 mths verified with cash-out proceeds for reserves. Minimum required is 3.; Low LTV/CLTV/HCLTV - 73.59%LTV - Max 80%LTV;

Client: EV2/B - lender acknowledged exception Pgxxx-xxx

Funded

3103842

XXXX

1174195

03/30/2026

Compliance

Scrivener's Error

DEED 0050

Acknowledged

Mortgage Notary for (redacted) is dated (redacted). (redacted) closing documents are hand dated (redacted). Unable to verify mortgage notary date for (redacted) is correct.

Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

05/05/2026 Finding is cleared with the attached letter of intent to re-record Notary Affidavit correcting the Mortgage acknowledgment date to (redacted). - 05/05/2026 EV2/B - Finding is downgraded with the attached letter of intent to re-record Notary Affidavit correcting the Mortgage acknowledgment date to (redacted).
05/05/2026 EV2/B - Finding is downgraded with the attached letter of intent to re-record Notary Affidavit correcting the Mortgage acknowledgment date to (redacted).
04/24/2026 Missing lender letter of intent to re-record the attached Notary Affidavit correcting the Mortgage acknowledgment date to (redacted).

Funded

3103842

XXXX

1174212

03/30/2026

Compliance

Initial CD Received Date is < 3 business days prior to Consummation Date

TRID 0008

Closed

Initial CD was issued and received (redacted). Final CD was issued and received (redacted). (redacted). APR changed more than (redacted) from the final LE to the (redacted) and (redacted) CDs. Missing initial CD issued (redacted) business days prior to closing. Per (redacted), the initial CD was issued on (redacted).

04/06/2026

Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/06/2026 Received Initial CD. Exception cleared. - 04/06/2026 Received Initial CD. Exception cleared.

Funded

3103842

XXXX

1175231

04/06/2026

Compliance

Final APR Outside Tolerance of .125 from APR 3 Business Days Prior to Closing

TRID 0206

Acknowledged

NEW 4/6/2026 based on receipt of Initial CD and Interim CD:

CD issued (redacted) had a lower Interest Rate than prior CD. APR decreased by more than (redacted). A new (redacted) day waiting period was required. Loan closed on (redacted), which was prior to end of required (redacted) days. Earliest valid closing date was (redacted).

Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/27/2026 EV2/B - Decrease in APR is deemed to be a benefit to borrower.
04/24/2026 (redacted) APR (redacted) has a variance of (redacted) from (redacted) APR (redacted) > (redacted), (redacted) Day Waiting Period Required. Closing (redacted) did not allow for full (redacted) days from (redacted) disclosure.
04/17/2026 (redacted) business day timing requirement applies CDs where the APR is out of tolerance.
04/13/2026 CD with accurate APR was received by borrower on (redacted). (redacted) day waiting period runs through (redacted). Earliest valid closing date was (redacted). Loan closed too early on (redacted).

Funded

3103911

XXXX

1177716

04/22/2026

Credit

Property Type is prohibited

PROP 0002

Acknowledged

The acres of (redacted) exceeds the max allowed of (redacted) acres. The appraisal (redacted) confirms the property has (redacted) acres. Per (redacted) Non QM AUS for Qualifying, max (redacted) acres allowed and section (redacted) Land Value and Acreage: Acreage and land value must be typical and common for the subject’s market. Maximum acreage permitted is (redacted) acres.

Low LTV/CLTV/HCLTV - (redacted) LTV w/a maximum allowed of (redacted).

; Verified housing payment history - (redacted) mortgage history for (redacted) months.

;

05/04/2026 EV2/B - Investor Acknowledged Exception. Comp factor noted reserves ≥ 6mos above program minimum.

Funded

3103911

XXXX

1177717

04/22/2026

Credit

Income Documentation is Insufficient

CRED 0082

Acknowledged

The loan was approved under the bank statement program, utilizing (redacted) income and (redacted) months of business bank statements. Per the (redacted) Overlay, Bank Statement doc type with < (redacted) months bank statements is not allowed.

Low LTV/CLTV/HCLTV - (redacted) LTV w/a maximum allowed of (redacted).

; Verified housing payment history - (redacted) mortgage history for (redacted) months.

;

Client: EV2/B Investor Accepts as (redacted) program vs bank statement.

Funded

3103959

XXXX

1173557

03/25/2026

Compliance

Missing LE due to Rate Lock

TRID 0159

Closed

Missing LE / CD due to rate lock. Lock confirmation shows rate set on (redacted). No LE/CD corresponding to this date in file, all interim LE's and initial/interim CD's are missing from the file.

04/24/2026

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.; Verified employment history - Borrower has been self-employed for (redacted) years.; Verified occupancy in subject property - Borrower has occupied the subject property for (redacted) years.; Verified housing payment history - (redacted) mths mtg history (redacted). Minimum requirement (redacted).;

04/24/2026 Finding is cleared with the attached disclosure and corresponding COCs. - 04/24/2026 Finding is cleared with the attached disclosure and corresponding COCs.

04/15/2026 Finding is partially cleared with the attached Initial and Interim LE's. Missing are the corresponding COC's.

Funded

3103959

XXXX

1173562

03/25/2026

Compliance

Loan Disbursement Date is on or before the required Right of Rescission Expiration Date

ROR 0009

Acknowledged

CD disbursement date of (redacted) is as of expiration date of ROR executed by the borrower and prior to the expiration date of ROR executed by non-borrowing vested owner. (redacted)

05/05/2026 Finding is cleared with the attached final dry funding CD and corresponding final settlement statement.
04/24/2026 PCCD issued (redacted)does not correspond the settlement statement.
PCCD Disbursement Date (redacted) with (redacted) cash to borrower.
Settlement Statement Disbursement Date (redacted) with (redacted) cash to borrower.
04/15/2026 Recd final dry funding CD and settlement statement. Attached settlement statement is not marked final or signed by the settlement statement. Missing copy of the final settlement statement.
04/15/2026 Recd final dry funding CD and settlement statement. Attached settlement statement is not marked final or signed by the settlement statement. Missing copy of the final settlement statement.

Funded

3103959

XXXX

1173564

03/25/2026

Compliance

LE or CD is Deficient

TRID 0148

Closed

Initial LE issued (redacted) is missing page (redacted). (redacted)

04/03/2026

04/03/2026 Received complete copy of LE issued (redacted). Exception cleared. - 04/03/2026 Received complete copy of LE issued (redacted). Exception cleared.

Funded

3103959

XXXX

1173565

03/25/2026

Compliance

Missing Affiliated Business Disclosure

COMP 0010

Closed

Missing ABD and FACTS Disclosures to determine if the lender has any affiliates, and if any affiliates were used on the transaction. Missing Lender Compliance Report.

05/05/2026

05/05/2026 TPR confirmed on lender privacy disclosure on website that they do not have any affiliates, thus ABD disclosure is not applicable. - 05/05/2026 TPR confirmed on lender privacy disclosure on website that they do not have any affiliates, thus ABD disclosure is not applicable.
04/24/2026 Missing lender attestation confirming that there are no affiliated business relationships to disclose.
04/15/2026 Attached XXXX report is insufficient to satisfy the finding. XXXX shows no fees being paid to an affiliate. Missing is the Affiliated Business Disclosure or lender attestation confirming that there are no affiliated business relationships to disclose.

Funded

3103959

XXXX

1173566

03/25/2026

Compliance

Missing Homeownership Counseling Disclosure

RESPA 0029

Closed

Missing evidence the Homeownership Counseling Disclosure was provided to the borrowers.

04/15/2026

04/15/2026 Finding is cleared with the attached homeownership counseling disclosure. - 04/15/2026 Finding is cleared with the attached homeownership counseling disclosure.

Funded

3103959

XXXX

1173568

03/25/2026

Compliance

Missing Intent to Proceed

TRID 0130

Closed

Missing Intent to Proceed. Appraisal invoice reflects the borrower paid (redacted), missing evidence the borrower provided their intent to proceed prior to incurring fees.

04/15/2026

04/15/2026 Finding is cleared with the attached intent to proceed. - 04/15/2026 Finding is cleared with the attached intent to proceed.

Funded

3103959

XXXX

1173575

03/25/2026

Compliance

Initial CD Received Date is < 3 business days prior to Consummation Date

TRID 0008

Closed

Missing Initial CD. Only the final (redacted) CD is provided (redacted)

04/15/2026

04/15/2026 Finding is cleared with the attached copy of the initial CD. - 04/15/2026 Finding is cleared with the attached copy of the initial CD.

04/03/2026 PDF is 653 pages. Need clarification regarding rebuttal comment of "correct loan docs." What was incorrect about the original file? Do we need to re-do diligence on this loan? If re-doing diligences is not required, please post individual documents that are responsive to specific exceptions.

Funded

3103959

XXXX

1176491

04/15/2026

Compliance

TRID 0121

Closed

NEW based on receipt of LEs. Missing valid COC for the decrease to lender credit from (redacted) to (redacted) at closing. -- The sum of non-specific (lump sum) lender credits and specific lender credits (redacted) has decreased from the amount disclosed on the Loan Estimate sent on (redacted), (redacted). Non-specific lender credits are generalized payments that do not pay for a particular fee. Specific lender credits are specific payments to pay for a specific fee. The total amount of non-specific and specific lender credits cannot decrease unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure. (redacted)

04/24/2026

04/24/2026 Finding is cleared with the attached disclosure and corresponding COCs. - 04/24/2026 Finding is cleared with the attached disclosure and corresponding COCs.

Funded

3103986

XXXX

1172782

03/19/2026

Credit

Non-Arms Length Transaction

CRED 0026

Acknowledged

Subject is a non-arms length transfer between neighbors. Borrower LOE states they first met the neighbor when viewing the home (redacted), but per appraiser the seller advised they first discussed the sale a year ago (redacted). The subject was never listed on MLS. Non-arm's length transactions are not allowed for investment properties.

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified housing payment history - (redacted) months of verified housing payments paid (redacted) since (redacted) .;

03/30/2026 EV2/B - Investor Acknowledged Exception, compensating factors noted:
Credit score of (redacted) is (redacted)points greater than program minimum of (redacted);
LTV of (redacted), (redacted) of more below program maximum of (redacted);
Housing payment history for past (redacted) months (redacted);

Funded

3103986

XXXX

1172785

03/19/2026

Compliance

Missing 1-4 Family Rider

DEED 0008

Closed

Missing executed (redacted) Family rider. The DOT was recorded without the legal description and riders (see DEED 0049), but no executed copy of the (redacted) Rider was located in the file.

03/26/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified housing payment history - (redacted) months of verified housing payments paid (redacted) since (redacted) .;

03/26/2026 Finding is cleared with the attached copy of the recorded DOT, (redacted) Family Rider included. - 03/26/2026 Finding is cleared with the attached copy of the recorded DOT, 1-4 Family Rider included.

Funded

3103986

XXXX

1172787

03/19/2026

Compliance

Mortgage/Deed of Trust is Incomplete

DEED 0049

Closed

DOT was recorded without the legal description and riders (redacted). Only (redacted) pages recorded as instrument (redacted) that only consists of DOT.

03/26/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified housing payment history - (redacted) months of verified housing payments paid (redacted) since (redacted) .;

03/26/2026 Finding is cleared with the attached recorded DOT, legal description and riders included. - 03/26/2026 Finding is cleared with the attached recorded DOT, legal description and riders included.

Funded

3103986

XXXX

1172831

03/19/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

Subject is a rural property for sale by owner, not allowed per guidelines.

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified housing payment history - (redacted) months of verified housing payments paid (redacted) since (redacted) .;

Funded

3103986

XXXX

1172915

03/20/2026

Compliance

Insurance Premiums must be escrowed in accordance with HFIAA

FLOOD 0005

Closed

The final CD reflects the flood insurance is not escrowed. Guidelines do require flood insurance to be escrowed on all loans.

04/03/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified housing payment history - (redacted) months of verified housing payments paid (redacted) since (redacted) .;

04/03/2026 Received PCCD with LOE and IEAD to add escrow for flood insurance. Exception cleared. - 04/03/2026 Received PCCD with LOE and IEAD to add escrow for flood insurance. Exception cleared.

Funded

3103986

XXXX

1172924

03/20/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

Missing Lender approval (only the (redacted) is in the file) and AUS required to be run per GL (redacted). Loan was not originated solely with asset depletion/utilization income, so requirement for AUS is not waived.

03/26/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified housing payment history - (redacted) months of verified housing payments paid (redacted) since (redacted) .;

03/26/2026 Finding is cleared with the attached loan approval and AUS recommendation Approve/Ineligible. While AUS does not reflect the final loan terms the loan was manually underwritten. - 03/26/2026 Finding is cleared with the attached loan approval and AUS recommendation Approve/Ineligible. While AUS does not reflect the final loan terms the loan was manually underwritten.

Funded

3103986

XXXX

1172997

03/20/2026

Property

Missing evidence of recorded Private Road Maintenance Agreement

PROP 0013

Closed

Per the appraisal, the subject is on a private road (redacted) , not noted as in a PUD. Missing road maintenance agreement.

03/30/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified housing payment history - (redacted) months of verified housing payments paid (redacted) since (redacted) .;

03/30/2026 No private road maintenance agreement on title. Per (redacted) , ...In the alternative, if the parties do not have an agreement regarding maintenance, the cost of maintaining the easement must be shared by the parties in proportion to their use of the easement. Each party is required to repair any damage that they cause due to negligence or abnormal use. In resolving conflicts between the parties, the frequency of each party's use of the easement and the size and weight of their vehicles should be considered... - 03/30/2026 No private road maintenance agreement on title. Per (redacted) ...In the alternative, if the parties do not have an agreement regarding maintenance, the cost of maintaining the easement must be shared by the parties in proportion to their use of the easement. Each party is required to repair any damage that they cause due to negligence or abnormal use. In resolving conflicts between the parties, the frequency of each party's use of the easement and the size and weight of their vehicles should be considered...

Funded

3104034

XXXX

1173338

03/24/2026

Property

Non-Warrantable Condominium

COND 0011

Acknowledged

Non-Warrantable condo unit approved (pgxxx). The appraisal reflects (redacted) is commercial space. Per the guidelines, Commercial Space: Allowed up to (redacted) . The file included an approved exception (pg xxx) citing compensating factor of same employer > (redacted) years.

Verified reserves - 15.83 mths verified reserves w/a minimum requirement of 7.
; Verified employment history - Borrower has been employed at current job for XXXX years.
;

Client: EV2/B - Lender acknowledged exception citing violation (redacted) non-residential space. approved(redacted)

Approved

3104040

XXXX

1172264

03/17/2026

Compliance

LE or CD is Deficient

TRID 0148

Acknowledged

Liability after Foreclosure section is not marked on the final CD. (redacted)

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

;

04/01/2026 EV2/B - Finding is downgraded with the attached cover letter for the PCCD previously presented (redacted).
03/26/2026 Missing cover letter addressed to borrower explaining the reason for re-disclosure.

Approved

3104040

XXXX

1172813

03/19/2026

Credit

Missing Evidence of Ownership of Free and Clear Property

CR 0011

Closed

Missing evidence the primary residence located at (redacted) is owned free and clear. The file included evidence of insurance which reflected a mortgagee with (redacted), loan number (redacted) (redacted)

03/26/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

;

03/26/2026 Finding is cleared with attached Deed of Reconveyance. - 03/26/2026 Finding is cleared with attached Deed of Reconveyance.

Approved

3104040

XXXX

1172814

03/19/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing evidence of HOA for (redacted).

03/24/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

;

03/24/2026 TPR set in error. HOA statement in file (redacted). - 03/24/2026 TPR set in error. HOA statement in file (redacted).

Approved

3104040

XXXX

1172891

03/19/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval, only the (redacted) is in the file.

03/24/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

;

03/24/2026 Finding is cleared with the attached loan approval. - 03/24/2026 Finding is cleared with the attached loan approval.

Approved

3104073

XXXX

1173891

03/27/2026

Compliance

Scrivener's Error

NOTE 0060

Acknowledged

Note and Mortgage property address (redacted) However, title commitment and City of (redacted) property tax bill reflect property address as(redacted). (Appraisal reflects (redacted))

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths mtg history (redacted). Guidelines require (redacted).

;

04/03/2026 Variance with formatting of address; clearly the same property. EV2/B.

Funded

3104094

XXXX

1174956

04/03/2026

Credit

LTV Exceeds Max Allowed

CRED 0010

Acknowledged

LTV of (redacted) exceeds GL max of (redacted) - GL matrix (redacted). (redacted) guidelines reflect must meet matrix parameters (redacted).

Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - Low DTI of (redacted).; Verified housing payment history - (redacted) mths mtg history paid (redacted). Minimum requirement (redacted).;

04/08/2026 EV2/B - Investor Acknowledged Exception, meets (redacted) requirements and (redacted) XXXX approved.

Funded

3104094

XXXX

1175059

04/06/2026

Credit

Unacceptable Mortgage History

CRED 0001

Closed

Missing copy of Note and final CD on primary residence located at (redacted) which was purchased (redacted) in lieu of pay history as required per (redacted) approval (redacted). Property is financed with (redacted) and pay history is not on credit report or documented in loan file.

04/08/2026

04/08/2026 Finding is cleared with the attached copy of the Note and CD for primary residence; first payment due (redacted), thus mortgage history is NA. - 04/08/2026 Finding is cleared with the attached copy of the Note and CD for primary residence; first payment due XXXX, thus mortgage history is NA.

Funded

3104094

XXXX

1175060

04/06/2026

Credit

Fraud report alerts have not been addressed

FRAUD 0001

Closed

High fraud alerts have not been addressed, (redacted), regarding additional loan applications/Mers registration, possibility of inflated income and possible match on Watch List.

04/08/2026

04/08/2026 Finding is cleared the attached alert summary confirming all fraud findings have been cleared by lender. Note that the new loan on primary was documented and no exact match on watchlist. - 04/08/2026 Finding is cleared the attached alert summary confirming all fraud findings have been cleared by lender. Note that the new loan on primary was documented and no exact match on watchlist.

Funded

3104094

XXXX

1175148

04/06/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing verification of hazard insurance for REO located at (redacted). (redacted) reflects (redacted)/month T&I. Fraud report reflects (redacted)/month for taxes, and 2) PITIA for REO located at (redacted). QC review used stated T&I on final (redacted) for DTI purposes.

04/08/2026

04/08/2026 Finding is cleared with the attached LOE confirming no HOA, PDR, EOI for non-subject REO and First Payment Letter for primary residence. - 04/08/2026 Finding is cleared with the attached LOE confirming no HOA, PDR, EOI for non-subject REO and First Payment Letter for primary residence.

Funded

3104094

XXXX

1175258

04/06/2026

Compliance

Mortgage/Deed of Trust is Incomplete

DEED 0049

Acknowledged

Mortgage in name of (redacted), who acquired title as (redacted) and (redacted), a Married Couple (redacted), however, title reflects vested in name of (redacted) and J(redacted), a Married Couple. Copy of Warranty Deed (redacted) dated (redacted).

05/19/2026 EV2/B - Finding is downgraded with the attached copy of the redrawn and executed Deed of Trust, vesting in the name of (redacted). FTP will be updated upon the re-recording and must be provided with the collateral package.
05/04/2026 FTP provided does not reflect the corrected vesting. Only an affidavit of the intent to correct and re-record the mortgage has been provided. Lender to provide copy of corrected mortgage. FTP will be updated upon the re-recording and must be provided with the collateral package.
04/24/2026 Recd recorded Affidavit of Correction of Typographical of Other Minor Error, vesting (redacted). Missing final title policy to confirm the final title vesting, (redacted).
04/24/2026 Missing final title policy to confirm the final title vesting, (redacted).

Funded

3104136

XXXX

1170897

03/09/2026

Compliance

Missing Home Loan Toolkit

TRID 0133

Closed

Missing evidence of delivery of the Home Loan Toolkit Disclosure.

03/19/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Verified reserves - Borrowers have more than (redacted) mths of verified reserves. No reserves required per AUS.;

03/19/2026 Attached disclosure tracking confirms the HLTK was included in the initial disclosure package. - 03/19/2026 Attached disclosure tracking confirms the HLTK was included in the initial disclosure package.

03/18/2026 Recd disclosure tracking for the initial disclosure package with a copy of the HLTK. The disclosure tracking doesn't include a list of documents included in the package. Provide lender attestation confirming that the HLTK is included in the initial disclosure package.

Funded

3104136

XXXX

1171999

03/14/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing (redacted) WVOE for (redacted) Ref ID (redacted) used to validate commission income of (redacted) used to qualify. Only (redacted) YTD pay stubs, (redacted) provided.

03/18/2026

03/18/2026 Finding is cleared with the attached (redacted). - 03/18/2026 Finding is cleared with the attached (redacted).

Funded

3104151

XXXX

1173031

03/20/2026

Credit

Title Policy - Schedule A Exception

TITL 0013

Closed

06/02/2026

06/02/2026 Finding is resolved with the attached LOE from title Parcel 1 of the legal reflects our undivided interest in Lot 1 which is the underlying geographic parcel that the entire project sits on. Parcel 2 described our unit which is Unit 3.
05/22/2026 Missing confirmation from title that parcel one, Lot 1 Tract (redacted), is the geographic parcel that the entire condominium complex sits on and that Parcel two for Unit 3 is the subject unit.
05/07/2026 Finding relates to the Mortgages legal description, parcel two includes unit 3, but subject is unit 2. Discrepancy to be addressed.
04/17/2026 Finding is related to the legal description including unit 2 and 3, but subject unit is unit B ((redacted)).
04/06/2026 Legal description attached to the Deed of Trust includes unit 2 and 3, but subject unit is unit B ((redacted)).

Funded

3104151

XXXX

1173559

03/25/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

04/06/2026

04/06/2026 Finding is cleared with the attached copies of the Mtg Billing Stmt, Notes, EOI and Tax Bills for non-subject REO.
03/30/2026 Finding is partially cleared with the attached copies of the Notes and tax bills for non-subject REO. -- Finding remains. Unable to reconcile which property the (redacted) tax bill corresponds to. Also missing tax bills for the following properties:
(redacted)

Funded

3104151

XXXX

1173567

03/25/2026

Credit

Missing Source of Funds

CRED 0108

Closed

04/30/2026

04/30/2026 Finding is cleared with the attached bank statements from the borrower trust to source funds used for purchase.
04/06/2026 Per guidelines, The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property). -- Missing source of funds for the (redacted) and
(redacted) deposits.

Funded

3104178

XXXX

1173511

03/25/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing evidence of PITIA for several properties:

-Missing property tax for (redacted), (redacted)

-Missing verification of the new loan terms for concurrent refinances. ALTA settlement statements are in the file, but these do not include terms for the new loans. (redacted), (redacted), (redacted), (redacted)

03/30/2026

03/30/2026 Finding is cleared with the attached copies of the Notes and property tax bills. - 03/30/2026 Finding is cleared with the attached copies of the Notes and property tax bills.

Funded

3104223

XXXX

1174580

04/01/2026

Compliance

Missing Legal Description on Mortgage/DOT

DEED 0021

Closed

Missing legal description to deed of trust. There are 2 legal description exhibits in file: Pgxxxx and Exh A-1 pxxxx. Unknown if attached with mortgage. Neither legal description exhibit matches legal description on title commitment pxxx.

04/06/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified employment history - Borrowers have been self-employed for (redacted) years.; Verified housing payment history - B1 (redacted) mths mtg history paid (redacted) . B2 (redacted) mths mtg history paid (redacted) . Guideline requirement (redacted) .;

04/06/2026 Received copy of recorded mortgage with legal description. Exception cleared.

Funded

3104223

XXXX

1174582

04/01/2026

Credit

APN Number and/or Legal Descriptions do not match security instrument

COLL 0002

Closed

APN on DOT page xxx is (redacted). Appraisal shows (redacted) pxxx. Title commitment does not reflect an APN. Tax estimator in file pxxx reflects (redacted).

04/13/2026

04/13/2026 Tax bill from (redacted)reflecting the CAD ID of (redacted) and the Property ID of (redacted) provided. Finding resolved.

Funded

3104223

XXXX

1174743

04/02/2026

Credit

Missing Copy of Quit Claim Deed

QCD 0001

Closed

Title commitment (pxxx) reflects vesting in name of (redacted); however, Warranty Deed (pxxx) reflect (redacted) and the Mortgage (p.xxx) reflects (redacted).

05/29/2026

05/29/2026 Spouse vested on mortgage for marital rights/homestead purposes. Finding resolved.
04/30/2026 Attached updated title commitment reflects vesting was to be in the name of (redacted) which matches to the Warranty Deed. Mortgage reflects (redacted). Missing deed transferring title to (redacted).

Funded

3104253

XXXX

1173405

03/24/2026

Credit

Missing Hazard Insurance Proof of Premium

HAZ 0001

Closed

The file did not include evidence the insurance premium was paid. The file included the purchase HUD (redacted) which did not reflect the insurance was paid. Additionally, the final CD (redacted) did not reflect the premium was paid. The evidence of insurance (redacted) reflected a total premium of (redacted). The file did not include the paid receipt.

04/07/2026

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

;

04/07/2026 Agree. HOI effective dates of (redacted) cover subject refinance period. Finding cleared. - 04/07/2026 Agree. HOI effective dates of (redacted) cover subject refinance period. Finding cleared.

Approved

3104253

XXXX

1173669

03/25/2026

Credit

Unacceptable Mortgage History

CRED 0001

Acknowledged

Missing mortgage history for REO property located at (redacted) with (redacted) which opened (redacted).

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

;

04/21/2026 Finding is cleared with the attached VOM for (redacted) confirming satisfactory mortgage rating from (redacted) to (redacted). - 04/21/2026 EV2/B Finding is downgraded with the attached post-consummation dated VOM for (redacted) I confirming satisfactory mortgage rating from(redacted).
04/07/2026 Notice of Servicing Transfer for (redacted) provided. Servicing Transfer lists LLC and borrower. VOM provided was for(redacted) which also notes LLC and individual borrower. VOM for (redacted) I pending.

Approved

3104286

XXXX

1170689

03/06/2026

Compliance

Appraisal Dated prior to Intent to Proceed Date

TRID 0192

Closed

Appraisal dated XX/XX/XX. Application and Intent to Proceed is dated XX/XX/XX. The final CD reflects the appraisal was paid outside of closing, no invoice to confirm when the borrower paid. Fees cannot be incurred prior to the borrower providing their intent to proceed.

04/29/2026

04/29/2026 Recd from lender: XXXX- Started loan as (redacted) and had to restart the loan XXXX due to
switching to current investor. XXXX was adverse and closed for incompleteness.
XXXX- loan we closed with current investor. Finding cleared. - 04/29/2026 Recd from lender: (redacted)- Started loan as (redacted) and had to restart the loan (redacted) due to
switching to (redacted). (redacted) was adverse and closed for incompleteness.
(redacted)- loan we closed with (redacted). Finding cleared.
04/20/2026 Missing lender attestation confirming that the appraisal was transferred from application (redacted) to (redacted) with confirmation of loan status (redacted) and why a new application was started.

Funded

3104424

XXXX

1172937

03/20/2026

Compliance

LE or CD is Deficient

TRID 0148

Closed

Unable to verify second appraisal fee. CD signed at closing (redacted) includes two appraisal fees. Only one appraisal report is in file. (redacted)

04/01/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted) < (redacted) Max Allowed.; Low DTI - Low DTI of (redacted) < (redacted) Max Allowed.;

04/01/2026 Finding is cleared with the attached appraisal for departing residence to verify a minimum of (redacted) equity. Borrower was qualified with full PITIA. - 04/01/2026 Finding is cleared with the attached appraisal for departing residence to verify a minimum of (redacted) equity. Borrower was qualified with full PITIA.

Approved

3104565

XXXX

1170750

03/09/2026

Credit

HOA Payment is not verified

CRED 0133

Closed

03/14/2026

03/14/2026 Corrected loan approval, 1008, and 1003 reflecting the verified HOA fee of (redacted) received. Lender final DTI (redacted)

Funded

3104565

XXXX

1171097

03/10/2026

Property

Non-Warrantable Condominium

COND 0011

Acknowledged

Funded

3104565

XXXX

1171712

03/12/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

03/14/2026

03/14/2026 Corrected loan approval, 1008, and 103 reflecting the verified HOA fee of (redacted) received. Lender final DTI (redacted)

Funded

3104607

XXXX

1172492

03/18/2026

Compliance

Scrivener's Error

DEED 0050

Acknowledged

Incorrect APN on page 3 of Mortgage (pg. xxx) which differs from APN in Legal Description attached to Mortgage (pg. xxx). Legal description APN matches Title Commitment (pg.xxx).

Verified reserves - (redacted) months of verified reserves. Minimum required 8.; Low DTI - (redacted) DTI. Max (redacted) DTI.;

05/29/2026 Notarized correction to DOT provided with letter of intent to re-record. Finding acknowledged as post close cure.

Funded

3104607

XXXX

1173261

03/24/2026

Credit

Unacceptable Mortgage History

CRED 0001

Closed

Missing verification of 12 months 0x30x12 borrower's primary residence. (redacted) reflects renting for (redacted) at (redacted). There are (redacted) monthly payments verified. Previous address (redacted) for (redacted) with no primary housing expense. However, initial (redacted) reflects primary is (redacted) for (redacted) xxxx/month.

04/20/2026

Verified reserves - (redacted) months of verified reserves. Minimum required 8.; Low DTI - (redacted) DTI. Max (redacted) DTI.;

04/20/2026 Finding is cleared with the attached rent free letter for prior residence, (redacted). Cancelled checks provided for current residence.

Funded

3104607

XXXX

1173262

03/24/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing final CD on non-subject property located at (redacted)to verify loan terms and funds due at closing. Proposed monthly PITIA payment pgxxx used for DTI purposes.

04/20/2026

Verified reserves - (redacted) months of verified reserves. Minimum required 8.; Low DTI - (redacted) DTI. Max (redacted) DTI.;

04/20/2026 Finding is cleared with the attached settlement statement and first payment letter.

Funded

3104607

XXXX

1173271

03/24/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing Business Narrative as required for business bank statement program

03/26/2026

Verified reserves - (redacted) months of verified reserves. Minimum required 8.; Low DTI - (redacted) DTI. Max (redacted) DTI.;

03/26/2026 Finding is cleared with the attached business narrative.

Funded

3104625

XXXX

1175013

04/03/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing (redacted) Business Bank Stmt.

04/14/2026

Low DTI - DTI (redacted), up to (redacted) acceptable.; Verified reserves - (redacted) months reserves required, (redacted) months verified.;

04/14/2026 Finding is cleared with the attached (redacted) statement. - 04/14/2026 Finding is cleared with the attached December statement.

Approved

3104655

XXXX

1172299

03/17/2026

Compliance

Missing PUD Rider

DEED 0007

Closed

Property is PUD per Appraisal and Title Commitment. Mortgage originated without a PUD Rider.

04/29/2026

Verified credit history - FICO (redacted) , minimum required(redacted) .; Verified reserves - (redacted) months reserves required, (redacted) months verified in liquid funds.;

04/29/2026 Corrected mortgage with executed PUD rider received with lender letter of intent to re-record. - 04/29/2026 Corrected mortgage with executed PUD rider received with lender letter of intent to re-record.

Funded

3104745

XXXX

1174651

04/01/2026

Credit

Tax Returns/Transcripts are Insufficient

CRED 0087

Closed

Missing signed copies of the borrower's business tax returns (redacted). Only the (redacted) is signed. Per guidelines, business income tax return copies must be signed.

04/09/2026

04/09/2026 Finding is cleared with the attached signature pages from the business tax returns. - 04/09/2026 Finding is cleared with the attached signature pages from the business tax returns.

Funded

3104748

XXXX

1174887

04/03/2026

Credit

Missing Final 1003 Application

APP 0001

Closed

Missing Final (redacted)

04/14/2026

Verified reserves - (redacted) mths reserves verified with a minimum requirement of (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted) LTV w/a max(redacted) LTV.;

04/14/2026 Finding is cleared with the attached final application. - 04/14/2026 Finding is cleared with the attached final application.

Funded

3104748

XXXX

1174891

04/03/2026

Credit

Hazard Insurance Coverage Amount is Insufficient

HAZ 0004

Closed

Coverage amount of (redacted) plus extension (redacted) is lower than Replacement Cost New per Appraisal of (redacted). Loan amount (redacted). RCE not provided.

04/14/2026

04/14/2026 Finding re-reviewed and cleared. Email from insurer confirms policy includes guaranteed replacement cost or extended coverage. - 04/14/2026 Finding re-reviewed and cleared. Email from insurer confirms policy includes guaranteed replacement cost or extended coverage.

Funded

3104748

XXXX

1175211

04/06/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

Insurance policy (redacted) reflects loss of rent as actual loss. Guideline minimum is (redacted) month rent loss coverage.

04/27/2026 EV2/B - Investor Acknowledged Exception, FICO of (redacted) is (redacted) points greater than program minimum
04/20/2026 Missing confirmation from insurer that Loss of Rents C coverage - actual loss covers at least (redacted) months rent loss.

Funded

3104760

XXXX

1170916

03/09/2026

Compliance

Missing Legal Description on Mortgage/DOT

DEED 0021

Closed

Missing Legal Description to Mortgage.

04/03/2026

Verified employment history - Borrower has been self-employed with multiple businesses for (redacted) years.; Low DTI - Low DTI of (redacted) w/a max allowed of (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/03/2026 Received copy of Mortgage with correct legal description, including APN. Exception cleared. - 04/03/2026 Received copy of Mortgage with correct legal description, including APN. Exception cleared.
03/24/2026 Attached legal description APN, (redacted), is inaccurate. APN per the tax search is (redacted).

Funded

3104760

XXXX

1172341

03/17/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing third party verification of accountant XXXX of XXXX.

03/24/2026

03/24/2026 Finding is cleared with the attached PTIN search. - 03/24/2026 Finding is cleared with the attached PTIN search.

Funded

3104820

XXXX

1175154

04/06/2026

Compliance

Cannot Reconcile LE / CD Versioning

TRID 0137

Closed

CD issued (redacted) is not marked as draft but is incomplete (redacted). Need verification of whether or not this CD was sent to borrower.

04/17/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) months mortgage history paid (redacted). Guideline requirement (redacted).

;

04/17/2026 Attached confirms the CD issued (redacted) was not delivered to borrower. - 04/17/2026 Attached confirms the CD issued (redacted) was not delivered to borrower.

Funded

3104820

XXXX

1175167

04/06/2026

Compliance

Missing LE due to Rate Lock

TRID 0159

Closed

Missing LE due to Rate Lock. Approval shows Rate was Locked on (redacted). No LE, CD, or COC included in file references or discloses a rate lock. Next disclosure in file not dated until (redacted) and it shows LE information that does not correspond to the Initial LE. (redacted))

04/17/2026

04/17/2026 Finding is cleared with the attached interim LE and corresponding COC. - 04/17/2026 Finding is cleared with the attached interim LE and corresponding COC.

Funded

3104820

XXXX

1175185

04/06/2026

Compliance

Invalid Change of Circumstance

COMP 0019

Acknowledged

COC issued (redacted) for CD disclosed on (redacted) inaccurately states Loan Amount was reduced. Loan amount went from (redacted) to (redacted) which is an increase not a reduction. Change Event did occur but was misstated. (redacted)

04/17/2026 EV2/B - No fee tolerance exception with this CD.

Funded

3104820

XXXX

1175189

04/06/2026

Compliance

TRID 0121

Closed

Missing COC for loan amount increase and lender credit decrease on CD issued and received at closing on (redacted). (redacted)

04/17/2026

04/17/2026 Finding is cleared with the attached COC. - 04/17/2026 Finding is cleared with the attached COC.

Funded

3104820

XXXX

1176223

04/14/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing signed business narrative for (redacted) and (redacted). Business narratives in file are not signed as required.

05/01/2026

05/01/2026 Finding is cleared with the attached signed business narratives. - 05/01/2026 Finding is cleared with the attached signed business narratives.

Funded

3104853

XXXX

1174587

04/01/2026

Credit

Title Policy - Schedule B Exception

TITL 0014

Closed

Preliminary title dated (redacted) reflects DOT dated (redacted). between previous owner and (redacted) (redacted)(Item (redacted)). Unable to verify mortgage was paid off or subordinated by transaction. Not included on final CD (redacted). Note: Final Title Policy not provided at time of review.

04/14/2026

Verified reserves - (redacted) mths reserves w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted) LTV w/a max (redacted) LTV.; Verified credit history - (redacted) fico w/ a minimum requirement of (redacted).;

04/14/2026 Final Title policy provided removes previous owner. Finding resolved. - 04/14/2026 Final Title policy provided removes previous owner. Finding resolved.

Approved

3104853

XXXX

1174588

04/01/2026

Compliance

Loan Disbursement Date is on or before the required Right of Rescission Expiration Date

ROR 0009

Closed

Missing Final Dry Funding CD, HUD-1 Statement to verify disbursement date. ROR expiration date was corrected to (redacted). CD signed at closing included a disbursement date, still listed as (redacted). (redacted).

04/15/2026

04/15/2026 Received Final CD and Settlement Statement showing disbursement date of (redacted). Exception cleared. - 04/15/2026 Received Final CD and Settlement Statement showing disbursement date of (redacted). Exception cleared.

Approved

3104853

XXXX

1174602

04/01/2026

Compliance

Missing Evidence of Re-disclosure and a valid COC for an increase in the "Cannot Increase Category" fee(s) from the prior disclosed Loan Estimate/Closing Disclosure

TRID 0195

Closed

Two appraisal fees of (redacted) and (redacted) with one Appraisal Review Fee of (redacted) were disclosed on the initial LE. The first appraisal fee of (redacted) was not disclosed on the subsequent disclosures, but then added back at closing. Missing valid COC for the addition of the (redacted) appraisal fee at closing.

04/15/2026

04/15/2026 Appraisal fees on final CD do not exceed Appraisal fees on Initial LE. No exception. - 04/15/2026 Appraisal fees on final CD do not exceed Appraisal fees on Initial LE. No exception.

Approved

3104961

XXXX

1176156

04/13/2026

Credit

Title Policy - Schedule B Exception

TITL 0014

Closed

Missing the final title policy to verify the following exceptions have been cleared: Gap Exception (redacted), Mechanics Lien Exception (redacted), and Tax Exception (redacted). (redacted)

04/27/2026

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Verified reserves - (redacted) mths reserves w/a minimum requirement of (redacted). ; Verified housing payment history - (redacted) mths mtg history paid (redacted) . Guideline requirement (redacted).; Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.;

04/27/2026 Finding is cleared with the attached FTP. - 04/27/2026 Finding is cleared with the attached FTP.

Funded

3104961

XXXX

1176443

04/15/2026

Property

Missing evidence of recorded Private Road Maintenance Agreement

PROP 0013

Acknowledged

The appraisal (redacted) shows the subject is on a private street and is not a PUD. The file is missing the Private Road Maintenance Agreement.

04/21/2026 EV2/B - Per owner there is a verbal agreement to share maintenance expenses in lieu of a written agreement.

Funded

3104961

XXXX

1176444

04/15/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Acknowledged

The file is missing final CD for (redacted) in the amount of (redacted) for REO located at (redacted) reflected on (redacted)and REO worksheet (redacted). QC review included (redacted) PITIA for DTI purposes.

04/27/2026 EV2/B - Finding is downgraded with the attached post-consummation dated CD for concurrent transaction.

Funded

3104985

XXXX

1171664

03/12/2026

Compliance

ROR cannot expire in less than 3 business days from the execution or transaction date

ROR 0012

Closed

ROR lists transaction date as (redacted) and Expiration Date as (redacted). ROR was executed on (redacted). Expiration Date was not updated and (redacted) is less than (redacted) business days from the execution date. (redacted)

04/06/2026

Verified credit history - FICO (redacted), minimum required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years.;

04/06/2026 Received corrected ROR that was signed on(redacted). Exception cleared. - 04/06/2026 Received corrected ROR that was signed on (redacted). Exception cleared.
03/19/2026 Borrower was not provided a full (redacted)business days to rescind the transaction, (redacted) with disclosed expiration date of (redacted).
--
The disclosed "Right to Cancel Expire Date" (redacted) is earlier than the system calculated "Right to Cancel Expire Date" (redacted). Under Regulation Z, funds may not be disbursed to the borrower until the expiration of the rescission period.(redacted)

Funded

3105003

XXXX

1175785

04/09/2026

Credit

Missing Required Fraud Tool

CRED 0089

Closed

Missing valid fraud report. Report in file (redacted) is Auto Refer.

04/20/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement of (redacted).;

04/20/2026 Finding is cleared with the attached fraud report, (redacted)/Pass. - 04/20/2026 Finding is cleared with the attached fraud report, (redacted)/Pass.

Approved

3105009

XXXX

1171866

03/13/2026

Compliance

Missing Legal Description on Mortgage/DOT

DEED 0021

Closed

The mortgage does not include the legal description.

03/24/2026

Verified credit history -(redacted) Fico w/minimum requirement of (redacted) .
; Verified reserves - (redacted) mths verified cash proceeds reserves w/a minimum requirement of (redacted) .
; Low LTV/CLTV/HCLTV - (redacted) LTV - Max (redacted) LTV;

03/24/2026 Finding is cleared with the attached recorded copy of the DOT which includes the legal description. - 03/24/2026 Finding is cleared with the attached recorded copy of the DOT which includes the legal description.

Approved

3105009

XXXX

1172378

03/17/2026

Credit

Missing Copy of Quit Claim Deed

QCD 0001

Closed

Missing Deed vested in name of borrower, a Single Woman: Mortgage is in name of borrower, a Single Woman . Title matches Warranty Deed dated XX/XX/XX reflecting title vested in name of borrower and another induvial.

04/23/2026

Verified credit history -(redacted) Fico w/minimum requirement of(redacted).
; Verified reserves - 101.89 mths verified cash proceeds reserves w/a minimum requirement of 6.
; Low LTV/CLTV/HCLTV - 59.18%LTV - Max 65%LTV;

04/23/2026 Copy of executed QCD received. - 04/23/2026 Copy of executed QCD received.

Approved

3105027

XXXX

1175371

04/07/2026

Credit

Insufficient Verified Funds to Close

CRED 0016

Closed

The file is missing the XXXX statements for accts (redacted) and (redacted) per the AUS (redacted) and final (redacted). Only the borrower's (redacted) account is documented in the file (redacted). No evidence of clearance of earnest money. Balance is insufficient to cover cash to close, and no assets for reserves.

04/24/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Low DTI - DTI of (redacted) w/a maximum allowed DTI of (redacted).

;

04/24/2026 Finding is cleared with the attached updated statements. - 04/24/2026 Finding is cleared with the attached updated statements.
04/16/2026 Missing updated (redacted) account statement. Attached statement dated (redacted) > (redacted)days at closing.

Funded

3105069

XXXX

1178018

04/24/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing lender loan approval.

04/30/2026

Low LTV/CLTV/HCLTV - (redacted) LTV w/a maximum allowed of (redacted).

; Verified ownership of subject property - Borrower has owned subject investment property (redacted) years.

;

04/30/2026 Finding is cleared with the attached loan approval. - 04/30/2026 Finding is cleared with the attached loan approval.

Funded

3105075

XXXX

1176528

04/15/2026

Compliance

Incomplete Change of Circumstance

COMP 0020

Closed

COC issued XXXX says Per Appraiser property is complex. COC does not state why the appraiser states property is complex and appraisal report does not clearly confirm. The appraisal services order form reflects the (redacted) fee, indicating (redacted) was the original charge, not an increase from the appraiser due to a complex property.

04/23/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .
; Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
;

04/23/2026 Explanation from appraiser received addressing increased fee. - 04/23/2026 Explanation from appraiser received addressing increased fee.

Approved

3105102

XXXX

1172750

03/19/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing business narrative for (redacted).

03/24/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years. Borrower has also a full-time job for (redacted) years.;

03/24/2026 Finding is cleared with the attached business narrative. - 03/24/2026 Finding is cleared with the attached business narrative.

Approved

3105102

XXXX

1172751

03/19/2026

Credit

Title Policy - Schedule A Exception

TITL 0013

Closed

Missing final title policy showing subject property has been released from cross-collateralization with (redacted).

04/08/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years. Borrower has also a full-time job for (redacted) years.;

04/08/2026 Final title policy provided. Finding resolved. - 04/08/2026 Final title policy provided. Finding resolved.

Approved

3105102

XXXX

1172759

03/19/2026

Credit

Missing Tax Transcript(s)

CRED 0091

Acknowledged

Missing tax transcripts for years (redacted) to validate (redacted) income

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years. Borrower has also a full-time job for (redacted) years.;

06/18/2026 EV2/B - Investor Acknowledged Exception, comp factors (redacted) FICO and (redacted) housing history.

Approved

3105102

XXXX

1172763

03/19/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Missing Business Purpose attestation for subject.

05/19/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years. Borrower has also a full-time job for (redacted) years.;

05/19/2026 Finding is cleared with the attached business purpose and occupancy affidavit. - 05/19/2026 Finding is cleared with the attached business purpose and occupancy affidavit.

Approved

3105102

XXXX

1173076

03/20/2026

Credit

Missing personal guarantee(s).

NOTE 0062

Closed

Missing Personal Guaranty: Note signed as (redacted) and individually. (redacted)

03/26/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years. Borrower has also a full-time job for (redacted) years.;

03/26/2026 Agree w/lender response. TPR error. - 03/26/2026 Agree w/lender response. TPR error.

Approved

3105102

XXXX

1173078

03/20/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing final CD for refinance of (redacted) to verify loan pay-off and loan terms.

03/24/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified employment history - Borrower has been self-employed for (redacted) years. Borrower has also a full-time job for (redacted) years.;

03/24/2026 Finding is cleared with the attached copy of the Closing disclosure for non-subject REO. - 03/24/2026 Finding is cleared with the attached copy of the Closing disclosure for non-subject REO.

Approved

3105132

XXXX

1176227

04/14/2026

Credit

Flood effective date is after the transaction date.

FLOOD 0010

Closed

Effective Date of Flood Insurance (redacted) is (redacted). Loan Transaction date is (redacted). Missing evidence of flood coverage that was effective at the time of closing.

04/23/2026

Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - Low DTI of (redacted).;

04/23/2026 Finding is cleared with the attached flood policy showing a transaction effective date of (redacted). - 04/23/2026 Finding is cleared with the attached flood policy showing a transaction effective date of (redacted)

Approved

3105132

XXXX

1176812

04/16/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Gift funds exceed maximum allowable: Gift funds of (redacted) exceed (redacted) max on LTV's greater than (redacted). Borrower LTV (redacted). Purchase price (redacted), (redacted) is (redacted) of the purchase price.

04/23/2026

Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - Low DTI of (redacted).;

04/23/2026 TPR set in error, gift restriction applies to DSCR loan programs. - 04/23/2026 TPR set in error, gift restriction applies to DSCR loan programs.

Approved

3105132

XXXX

1176845

04/16/2026

Credit

Gift Funds not Properly Verified

CRED 0018

Closed

Missing a copy of the wire/cashier's check for the (redacted) gift transferred to title.

04/23/2026

Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - Low DTI of (redacted).;

04/23/2026 Finding is cleared with the attached incoming wire notification. - 04/23/2026 Finding is cleared with the attached incoming wire notification.

Approved

3105132

XXXX

1176846

04/16/2026

Credit

Insufficient verified reserves

CRED 0100

Closed

(redacted) months reserves are required per guidelines - (redacted), only (redacted) documented. All cash to close came from gift funds, which are not eligible for reserves. The only assets documented are the borrower's business account, ending balance is (redacted) ownership = (redacted).

04/23/2026

Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - Low DTI of (redacted).;

04/23/2026 Finding is cleared. Guidelines do not prohibit the use of gift funds for cash to close and reserves, which follows (redacted) for primary/secondary residences < (redacted) LTV. - 04/23/2026 Finding is cleared. Guidelines do not prohibit the use of gift funds for cash to close and reserves, which follows (redacted) for primary/secondary residences < (redacted) LTV.

Approved

3105228

XXXX

1172388

03/17/2026

Compliance

Appraisal Dated prior to Intent to Proceed Date

TRID 0192

Closed

Missing broker's ITP. Appraisal is dated (redacted), which was prior to the lender's ITP dated (redacted). (redacted)

04/03/2026

Verified employment history - Borrower has been employed at current job for (redacted) years (As documented in the loan file.); Low DTI - DTI of (redacted) w/a maximum allowed DTI of (redacted). ;

04/03/2026 Received verification of borrower intent to proceed concurrent with payment for Appraisal on (redacted). Exception cleared. - 04/03/2026 Received verification of borrower intent to proceed concurrent with payment for Appraisal on 12/22/2025. Exception cleared.

03/26/2026 Attached ITP is not signed. Appraisal was ordered prior to the documented ITP date of 1/15/26. Missing evidence that the borrower was not charged for the appraisal prior to ITP.

Funded

3105228

XXXX

1173121

03/23/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Closed

Missing joint access letter from (redacted) for (redacted) account A/# ending in (redacted). Per guidelines "If the borrower does not hold the deposit account solely, all non-borrower parties on the account (excluding a non-borrowing spouse) must provide a written statement that the borrower has full access and use of the funds."

03/26/2026

Verified employment history - Borrower has been employed at current job for (redacted) years (As documented in the loan file.); Low DTI - DTI of (redacted) w/a maximum allowed DTI of (redacted). ;

03/26/2026 Finding is cleared with the attached access letter. - 03/26/2026 Finding is cleared with the attached access letter.

Funded

3105228

XXXX

1173236

03/23/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing lender loan approval.

03/26/2026

Verified employment history - Borrower has been employed at current job for (redacted) years (As documented in the loan file.); Low DTI - DTI of (redacted) w/a maximum allowed DTI of (redacted). ;

03/26/2026 Finding is cleared with the attached copy of the loan approval. - 03/26/2026 Finding is cleared with the attached copy of the loan approval.

Funded

3105228

XXXX

1173237

03/23/2026

Credit

Insufficient Verified Reserves (Number of Months)

CRED 0017

Acknowledged

Per guideline (redacted) mths reserves are required for a FTHB. Total reserves verified (redacted).

Verified employment history - Borrower has been employed at current job for (redacted) years (As documented in the loan file.); Low DTI - DTI of (redacted) w/a maximum allowed DTI of (redacted). ;

04/07/2026 EV2/B - Investor Acknowledged Exception, borrower has 5 years s/e.

03/26/2026 Partially agree, no reserves required but AUS required documented assets sufficient to cover the XXXX liability.

Funded

3105276

XXXX

1174702

04/02/2026

Credit

Missing personal guarantee(s).

NOTE 0062

Acknowledged

The file is missing the executed Personal Guaranty.

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Verified housing payment history - (redacted) months mortgage history paid (redacted). Guideline requirement (redacted).

;

04/24/2026 EV2/B - Recd newly executed guaranty.

04/15/2026 Notary certificate has the notary's written name, not the guarantors.

Funded

3105276

XXXX

1174903

04/03/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing executed (redacted) Borrower Certificate for Use with Single Member (redacted) for (redacted)

04/14/2026

04/14/2026 Executed (redacted) Borrower Certificate provided. Finding resolved. - 04/14/2026 Executed Limited Liability Company Borrower Certificate provided. Finding resolved.

Funded

3105279

XXXX

1175305

04/07/2026

Property

Non-Warrantable Condominium

COND 0011

Acknowledged

Missing lender acknowledged exception: Non-Warrantable Condo due to Fannie unavailable due to Actual Cash Value on Master Policy (redacted) which does not meet acceptable non-warrantable features (GL (redacted)).

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted)LTV w/a maximum of (redacted)LTV for non-warrantable condo.;

04/15/2026 Lender approved exception, Fannie unavailable due to actual cash value on master policy.

Funded

3105279

XXXX

1175337

04/07/2026

Credit

Missing Evidence of Liquidation of Assets for Cash to Close

CRED 0110

Closed

Missing HUD-1 to verify title company receipt and cashier check (redacted) for funds to close. Property address and name of parties/borrower not on title receipt or check.

04/15/2026

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted)LTV w/a maximum of (redacted)LTV for non-warrantable condo.;

04/15/2026 TPR set in error. Cashiers check paid to title references the borrower name and property address. Escrow number is on the receipt. - 04/15/2026 TPR set in error. Cashiers check paid to title references the borrower name and property address. Escrow number is on the receipt.

Funded

3105279

XXXX

1175605

04/08/2026

Credit

Missing Sufficient Evidence of Insurance

INS 0001

Acknowledged

Missing (redacted) months rent loss coverage as required. Not included on insurance policy (redacted).

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted)LTV w/a maximum of (redacted)LTV for non-warrantable condo.;

05/15/2026 Attached email from insurer confirms rent loss coverage extends (redacted) months on all policies. Although the subject line referenced the subject property the insurer did not specify if the rent loss coverage is included in the borrowers policy, only that rent loss coverage extends (redacted) months on all policies. Missing is confirmation that policy (redacted) includes rent loss coverage.
05/15/2026 EV2/B - Investor Acknowledged Exception
05/06/2026 Attached email from insurer confirms rent loss coverage extends (redacted)months on all policies. Missing is confirmation that policy (redacted) includes rent loss coverage.
04/28/2026 Loss assessment coverage on a HO6 policy appears to be related to HOA special assessments imposed on owners. Missing confirmation from insurer that the attached policy includes rent loss coverage of at leas (redacted) months.
04/20/2026 Attached HO6 does not reflect rent loss coverage.

Funded

3105297

XXXX

1171663

03/12/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing the XXXX business statement for A/# (redacted) dated (redacted)5 to support deposits of (redacted) used for qualifying (redacted).

04/17/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

;

04/17/2026 Finding is cleared with the attached bank statement. - 04/17/2026 Finding is cleared with the attached bank statement.

Approved

3105312

XXXX

1177029

04/17/2026

Compliance

Loan Disbursement Date is on or before the required Right of Rescission Expiration Date

ROR 0009

Closed

Missing post-closing CD verifying funds were disbursed after expiration date of ROR (dry funding state). ROR corrects expiration date to (redacted). CD signed at closing does not correct disbursement date from (redacted) and PC CD or HUD are not in file. (redacted). Based on the final CD, loan disbursed prior to rescission expiration.

04/29/2026

04/29/2026 Finding is cleared with the attached final dry funding CD.

Funded

3105357

XXXX

1174809

04/02/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

04/10/2026

04/10/2026 1008 provided. Finding resolved.

Approved

3105357

XXXX

1174826

04/02/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Acknowledged

Approved

3105357

XXXX

1174827

04/02/2026

Credit

Missing Bank Statement(s)

CR 0012

Closed

04/10/2026

04/10/2026 Additional month of history for borrower's accounts with (redacted) provided. Finding resolved.

Approved

3105408

XXXX

1172329

03/17/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing (redacted) letter or copy of the operating agreement for (redacted) to verify (redacted) each has (redacted) ownership. Only the Articles of Organization and EIN was provided (redacted).

03/27/2026

03/27/2026 Investor confirmed Articles of Organization in lieu of an Operating Agreement or (redacted) letter to document ownership percentage on the loan qualified with self-employment income under the bank statement program satisfies guideline requirements. The articles identify the entity as a one (redacted) (redacted) and lists the borrower as (redacted). EIN borrower as (redacted). - 03/27/2026 Investor confirmed Articles of Organization in lieu of an Operating Agreement or (redacted) letter to document ownership percentage on the loan qualified with self-employment income under the bank statement program satisfies guideline requirements. The articles identify the entity as a one manager LLC and lists the borrower as manager. EIN borrower as sole member.
03/27/2026 Recd Articles and EIN. -- Missing Operating Agreement.
03/24/2026 Attached operating agreement is for XXXX. Missing is the operating agreement for XXXX.

Funded

3105408

XXXX

1173917

03/27/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

(redacted) reflects self-employment income considered for (redacted). (redacted) is sole owner of the business as per the articles and EIN verification. Missing updated (redacted).

04/06/2026

04/06/2026 Finding is cleared with the attached revised (redacted) reflecting self-employment for (redacted) only, signature is not required since the revision is considered non-material as the revision was made to match the documents in file. - 04/06/2026 Finding is cleared with the attached revised 1008/1003 reflecting self-employment for B1 only, signature is not required since the revision is considered non-material as the revision was made to match the documents in file.

Funded

3105429

XXXX

1171243

03/11/2026

Property

Appraisal is Incomplete

APPR 0002

Acknowledged

Subject appraisal reflects flood zone X, however, Flood Certificate reflects Zone (redacted).

Verified housing payment history - (redacted) mths of mtg history verified (redacted). Guideline requirement (redacted).; Verified reserves - (redacted) mths reserves using cash out proceeds w/a minimum requirement of (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

03/11/2026 EV2/B - Non-material. Subject not in flood zone.

Approved

3105429

XXXX

1171260

03/11/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing (redacted) Borrowing Certificate as required for vested entity of record.

03/26/2026

03/26/2026 Finding is cleared with the attached (redacted) Borrowing Certificate. - 03/26/2026 Finding is cleared with the attached LLC Borrowing Certificate.

Approved

3105477

XXXX

1174616

04/01/2026

Credit

Missing and/or Deficient Name Affidavit

CRED 0094

Acknowledged

Name Affidavit (pxxx) for B1 does not show relationship between last name on ID, Title Commitment, and Data Tape (redacted) and last name on loan documents (redacted). (Page xxx, xxx, xxxx)

Verified reserves - (redacted) mths reserves verified w/ a minimum requirement of (redacted) .; Verified credit history - (redacted) fico w/ a minimum requirement of 700.; Low DTI - (redacted) DTI w/a max of (redacted) DTI.;

06/12/2026 EV2/B Post-Closing corrective action- Updated Signature /Name Affidavit executed (redacted)received. Affidavit includes both names.
04/27/2026 Escalated to investor for review.
04/17/2026 Missing B1 signature/name affidavit and/or marriage certificate. Application started with the last name (redacted) and closed in the name of (redacted).

Funded

3105516

XXXX

1172883

03/19/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing Final CD and Note for REO located at (redacted) to verify payoff of (redacted) and new loan terms.

03/26/2026

Verified housing payment history - (redacted) mths mtg history verified (redacted). Guidelines required (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted) LTV w/a max (redacted) LTV.;

03/26/2026 Finding is cleared with the attached copy of the note and CD for non-subject REO, (redacted) mortgage was paid. - 03/26/2026 Finding is cleared with the attached copy of the note and CD for non-subject REO, XXXX mortgage was paid.

Approved

3105606

XXXX

1173020

03/20/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing Lender Approval

04/16/2026

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/16/2026 Finding is cleared with the attached UW Decision. - 04/16/2026 Finding is cleared with the attached UW Decision.

Approved

3105606

XXXX

1173167

03/23/2026

Credit

Unacceptable Mortgage History

CRED 0001

Acknowledged

Missing (redacted) month previous mortgage history. Full (redacted) month primary residence mortgage history required. Credit update (redacted) reflects (redacted) month (redacted) mtg history on current primary. Missing previous primary mortgage history. (Previous primary residence (redacted), purchased (redacted) with a mortgage for (redacted) with (redacted) (redacted). Current primary at (redacted) purchased (redacted)

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/16/2026 EV2/B - Investor Acknowledged Exception, fico is (redacted) points above the minimum.

Approved

3105612

XXXX

1177032

04/17/2026

Credit

LTV Exceeds Max Allowed

CRED 0010

Closed

(redacted) LTV/CLTV Exception- Subject property is indicated to be in a declining market per the appraisal. Per the (redacted) Underwriting Overlays the max LTV/CLTV should be reduced by (redacted). Max allowed LTV would be (redacted).

05/01/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted). ; Low DTI - Low DTI of (redacted) w/a max allowed of (redacted).;

05/01/2026 Per investor, (redacted) notified me that we should not be applying overlays to XXXX guidelines going forward. Can you please clear the exception, and you will not need to review (redacted) loans to our overlays going forward. - 05/01/2026 Per investor, XXXX notified me that we should not be applying overlays to XXXX guidelines going forward. Can you please clear the exception, and you will not need to review XXXX loans to our overlays going forward.
04/30/2026 Per investor overlay, Declining market (as indicated by appraisal) - reduce max LTV/CLTV by (redacted) ( (redacted)ceiling). Missing investor acknowledgment of (redacted) LTV > (redacted) Max allowed.

Funded

3105621

XXXX

1178506

04/27/2026

Credit

Missing Required Fraud Tool

CRED 0089

Closed

Missing Fraud Report with all items addressed. No fraud report located in the file.

05/05/2026

05/05/2026 Agree, finding cleared. - 05/05/2026 Agree, finding cleared.

Funded

3105654

XXXX

1173626

03/25/2026

Compliance

Missing evidence of the Seller Closing Disclosure

TRID 0193

Closed

Missing Seller CD.

04/03/2026

Verified employment history - Borrower has been self-employed with two businesses for (redacted) years.;

04/03/2026 Received seller CD. Exception cleared.

Funded

3105654

XXXX

1173629

03/25/2026

Compliance

Initial CD Received Date is < 3 business days prior to Consummation Date

TRID 0008

Closed

The earliest CD in the file was issued and received xx/xx/xxxx, less than three business days before the final CD (pxxx). Final CD issued xx/xx/xxxx and received xx/xx/xxxx (pxx). Missing initial CD.

04/03/2026

Verified employment history - Borrower has been self-employed with two businesses for (redacted) years.;

04/03/2026 Received Initial CD. Exception cleared.

Funded

3105654

XXXX

1174244

03/30/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing verification of large deposit for income: Borrower used 24 mos XXXX A/#xxxx to qualify. ($) deposit xx/xx/xxxx pxxx was included in income. LOE for large deposit not provided.

04/08/2026

Verified employment history - Borrower has been self-employed with two businesses for (redacted) years.;

04/08/2026 Rebuttal accepted. Large deposit of (redacted) excluded for qualifying deposits. Finding cleared.

Funded

3105690

XXXX

1175537

04/08/2026

Credit

Missing evidence of HOA Dues

CRED 0113

Closed

Missing verification of subject HOA dues.

04/20/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

04/20/2026 Only indication subject is a condo is the condo rider, finding cited. - 04/20/2026 Only indication subject is a condo is the condo rider, finding cited.

Funded

3105690

XXXX

1175554

04/08/2026

Compliance

HPML Appraisal Requirements are Not Met

APPR 0044

Closed

Appraisal does not contain verbiage affirming that it was prepared in accordance with Title XI of FIRREA and any implementing regulations. Appraisal does not meet (redacted) criteria for HPML Appraisals.

04/28/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

04/28/2026 Finding is cleared with the attached copy of the undated appraisal. - 04/28/2026 Finding is cleared with the attached copy of the undated appraisal.

Funded

3105690

XXXX

1175834

04/10/2026

Property

Appraisal Discrepancy

APPR 0076

Closed

Appraisal does not reflect the subject to be a Condo or verify any HOA Fees. Missing corrected appraisal. Mortgage (redacted) reflects property is a condo (detached per photos) with condo rider. Title commitment (redacted) only has verbiage that states "If insured premises is a condominium unit...". No additional documentation in file.

04/28/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

04/28/2026 Refer to DEED 0049, lender is correcting Mortgage. The property is not a condo, thus no amendment to the appraisal is required. - 04/28/2026 Refer to DEED 0049, lender is correcting Mortgage. The property is not a condo, thus no amendment to the appraisal is required.

Funded

3105690

XXXX

1175843

04/10/2026

Credit

Missing Lender Project Condo Classification

COND 0010

Closed

Missing all condo info.

04/20/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

04/20/2026 Only indication subject is a condo is the condo rider, finding cited. - 04/20/2026 Only indication subject is a condo is the condo rider, finding cited.

Funded

3105690

XXXX

1176385

04/14/2026

Credit

Back-end Ratio exception (DTI)

CRED 0004

Closed

Review DTI of (redacted) exceeds the max allowed of (redacted) as fico is less than (redacted). Lender approved DTI (redacted). FICO (redacted). ((redacted) Non-QM Non-Prime Plus Matrix (redacted))

05/21/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

05/21/2026 Finding is cleared with the attached updated (redacted), LOE, and email correspondence addressed to borrower. Updated (redacted) income increased to (redacted) resulting in a downward DTI variance of (redacted) to meet guideline DTI maximum of (redacted). - 05/21/2026 Finding is cleared with the attached updated 1003, LOE, and email correspondence addressed to borrower. Updated 1003 income increased to (redacted) resulting in a downward DTI variance of (redacted) to meet guideline DTI maximum of (redacted).
05/15/2026 Finding is partially cleared with the attached employer initialed WVOE. -- Finding remains. Updated 1003 is not signed, the update is considered material. In lieu of a borrower signed updated 1003 evidence that the updated 1003 was electronically sent to borrower can be accepted to satisfy the finding.
04/28/2026 Missing borrower signed copy of the attached updated 1003, income increased to (redacted)resulting in a downward DTI variance of (redacted) to meet guideline DTI maximum of (redacted). Or provide evidence the updated 1003 was electronically delivered to borrower with an explanation for the change. Also missing employer initials on the update made to the WVOE; employer now confirms that they do not require agents to have any expenses. Income increased due to no expense factor applied lowering the DTI < (redacted) max.

Funded

3105690

XXXX

1177290

04/20/2026

Compliance

Mortgage/Deed of Trust is Incomplete

DEED 0049

Acknowledged

Mortgage contains a condo rider, but the property is a SFR.

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

05/07/2026 EV2/B - Finding downgraded with the attached Confirmatory Mortgage, recorded with no condo rider.

04/28/2026 Title agent to confirm the re-recordation of the Mortgage without the condo rider is sufficient in the state of MA.

Funded

3105690

XXXX

1178885

04/28/2026

Credit

Tax Returns/Transcripts are Insufficient

CRED 0087

Acknowledged

Missing (redacted) wage transcript validating (redacted) income used for qualifying.

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

05/21/2026 EV2/B - Investor Acknowledged Exception, (redacted)LTV and same employment (redacted) years
05/21/2026 Escalated to investor for review.

Funded

3105690

XXXX

1181576

05/07/2026

Credit

Hazard policy is expired.

HAZ 0008

Closed

EOI expired (redacted).

05/15/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low LTV/CLTV/HCLTV - Low LTV of (redacted) w/a max allowed of (redacted).;

05/15/2026 Agree, finding is cleared. Policy expiration is (redacted). - 05/15/2026 Agree, finding is cleared. Policy expiration is (redacted).

Funded

3105717

XXXX

1172325

03/17/2026

Credit

Insufficient verified reserves

CRED 0100

Acknowledged

Short required reserves in the amount of $XXXX. Cash to close $XXXX after earnest money deposit, XXXX **XXXX $XXXX plus XXXX IRA $XXXX ($XXXX x 70% per guidelines) results in $XXXX in verified reserves ((redacted) months), XXXX required ((redacted) months).

No Payment Shock - Housing payment being reduced by more than $XXX per month.; Disposable Income - Borrower has more than $XXXX in residual income.;

03/31/2026 EV2/B Investor is ok with waiving/downgrading the below suspense item with the following comp factors: housing history and housing payment being reduced.

Approved

3105717

XXXX

1172627

03/18/2026

Compliance

Missing evidence of the Seller Closing Disclosure

TRID 0193

Closed

Missing Seller's CD or ALTA with the seller's side of the transaction. The only seller's CD in the file is from the sale of the borrower's departure residence.

03/20/2026

No Payment Shock - Housing payment being reduced by more than $XXX per month.; Disposable Income - Borrower has more than $XXXX in residual income.;

03/20/2026 Executed seller CD received. - 03/20/2026 Executed seller CD received.

Approved

3106056

XXXX

1173910

03/27/2026

Credit

Missing Tax Transcript(s)

CRED 0091

Closed

Missing tax transcripts for (redacted)/(redacted) for (redacted).

04/10/2026

Verified housing payment history - (redacted) mths mtg history (redacted) w/a guideline requirement of (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/10/2026 (redacted) and (redacted) Transcripts for (redacted) provided. Finding resolved. - 04/10/2026 2024 and 2025 Transcripts for B2 provided. Finding resolved.

Approved

3106071

XXXX

1175817

04/10/2026

Credit

LTV Exceeds Max Allowed

CRED 0010

Closed

The LTV of (redacted) exceeds the max allowed of 70% due to first time investor. Per the guidelines, a First-Time Investor (has not owned an investment property for (redacted) months in the last (redacted) years) allowed with the following: Max LTV (redacted) . The file did not include documentation to support the borrowers owned and investment property for (redacted) months in the last (redacted) years.

04/23/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .
; Verified credit history - (redacted) Fico w/minimum requirement of (redacted) .
; Verified housing payment history - (redacted) mths mtg history paid (redacted) . Guideline requirement (redacted) .;

04/23/2026 Finding is cleared with the attached investor update to the guidelines for (redacted). - 04/23/2026 Finding is cleared with the attached investor update to the guidelines for (redacted).
04/20/2026 Escalated to investor for review.

Approved

3106080

XXXX

1172269

03/17/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

The file is missing the lender loan approval.

03/25/2026

Low LTV/CLTV/HCLTV - (redacted) LTV w/a minimum requirement of (redacted).

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mortgage history for (redacted) months.

;

03/25/2026 Finding is cleared with the attached underwriting decision. - 03/25/2026 Finding is cleared with the attached underwriting decision.

Approved

3106116

XXXX

1172623

03/18/2026

Compliance

HPML Appraisal Requirements are Not Met

APPR 0044

Acknowledged

Appraiser did not include an executed certification stating the appraisal was prepared in accordance with Title XI of FIRREA and any implementing regulations. (redacted)

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Verified reserves - Required (redacted) months of reserves with verified assets of (redacted) months. ; None - Maximum DTI of (redacted) with review DTI of (redacted). ; Low LTV/CLTV/HCLTV - Maximum CLTV of (redacted) with review CLTV of (redacted). ;

Client: EV2/B Non-Material

Approved

3106116

XXXX

1173001

03/20/2026

Property

Non-Warrantable Condominium

COND 0011

Acknowledged

The condo project has unacceptable non-warrantable characteristics, HOA is in active litigation due to mold. Insurance company is not covering, and no costs can be determined at this stage but plaintiff is requesting (redacted). The HOA disputes liability. Investor acknowledged exception (redacted).

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Verified reserves - Required (redacted) months of reserves with verified assets of (redacted) months. ; None - Maximum DTI of (redacted) with review DTI of (redacted). ; Low LTV/CLTV/HCLTV - Maximum CLTV of (redacted) with review CLTV of (redacted). ;

Client: EV2/B Investor Acknowledged Exception

Approved

3106116

XXXX

1173079

03/20/2026

Credit

Underwriting Loan Approval is Deficient

APRV 0010

Closed

Missing the final (redacted). The (redacted) in the file (redacted) reflects the incorrect loan amount, interest rate, appraised value, and income.

03/25/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted).; Verified reserves - Required (redacted) months of reserves with verified assets of (redacted) months. ; None - Maximum DTI of (redacted) with review DTI of (redacted). ; Low LTV/CLTV/HCLTV - Maximum CLTV of (redacted) with review CLTV of (redacted). ;

03/25/2026 Finding is cleared with the attached (redacted). - 03/25/2026 Finding is cleared with the attached 1008.

Approved

3106260

XXXX

1177503

04/21/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

The borrower is qualifying on short term rental DSCR. Per guidelines when using an (redacted) report, there must be at least (redacted) comps within (redacted) miles of subject or have same zip code, and include a (redacted)-month forecast period from note date. The comps listed on the (redacted) report (redacted) do not include the actual address, unable to confirm if any of these are within (redacted) miles and have the same zip code. Additionally, the forecast only goes through (redacted) - note date is (redacted).

05/06/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted).; Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/06/2026 Finding is cleared with the attached (redacted). - 05/06/2026 Finding is cleared with the attached (redacted).
05/01/2026 Finding is partially is cleared with the attached zip code map to evidence the comps are located in the same zip code. -- Finding remains. Forecast only goes through (redacted) - note date is (redacted).

Funded

3106299

XXXX

1176256

04/14/2026

Compliance

Initial CD Received Date is < 3 business days prior to Consummation Date

TRID 0008

Closed

Initial CD issued on (redacted) was not viewed or esigned by the borrower until (redacted) per the disclosures tracking report (redacted) which is less than (redacted) days prior to the settlement date (redacted). No evidence that a closing disclosures was issued prior to (redacted) in file.

04/23/2026

Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/23/2026 Initial CD issued (redacted) received. - 04/23/2026 Initial CD issued (redacted) received.

Funded

3106299

XXXX

1177222

04/20/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing full (redacted) month bank statements for asset utilization income calculation. Per lender worksheet accounts included for income:

1) (redacted) for (redacted) used. Account history from (redacted)provided however, missing account balance. (redacted)6 months required for asset utilization.;

2) (redacted) for (redacted) statements available (redacted) for (redacted) months;

05/12/2026

Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

05/12/2026 Finding is cleared. (redacted) was not opened until (redacted). The funding account was (redacted) on (redacted) when CD (redacted) was liquidated and deposited. Email correspondence from (redacted) confirmed seasoning of CD (redacted). Since the account was new six months statements is not applicable. (redacted) quarter statement covering (redacted), thus completing six months required with (redacted) statements. Note that (redacted) is an (redacted), thus no regular transactions. - 05/12/2026 Finding is cleared. (redacted) was not opened until (redacted) The funding account was (redacted) on (redacted) when (redacted) was liquidated and deposited. Email correspondence from (redacted) confirmed seasoning of (redacted). Since the account was new six months statements is not applicable. (redacted) quarter statement covering (redacted), thus completing six months required with (redacted) statements. Note that (redacted) is an IRA, thus no regular transactions.
05/06/2026 Statement only reflects activity for (redacted) not the full year.
04/30/2026 Finding remains.

1) Missing additional (redacted) months asset statements for (redacted) covering (redacted) to complete (redacted) months required.

2) Missing additional (redacted) months asset statements for (redacted)covering (redacted) to complete (redacted) months required.

Funded

3106608

XXXX

1173918

03/27/2026

Credit

Questionable Occupancy

CRED 0117

Closed

Missing LOE addressing the relationship of the non-borrowing title holder and any intent to occupy. Title is being vested in the name of non-borrowing 3rd party, (redacted), and the borrowers as a married couple.

04/07/2026

Verified credit history - FICO (redacted), minimum required (redacted).; Low DTI - DTI (redacted), up to (redacted) acceptable.; Verified reserves - (redacted) mos required, Borrower has over (redacted) mos in reserves.;

04/07/2026 Processor LOE provided noting (redacted) as daughter of borrowers. LOE also notes that coborrower will occupy this residence (redacted) of the time. Finding resolved. - 04/07/2026 Processor LOE provided noting (redacted) as (redacted) of borrowers. LOE also notes that coborrower will occupy this residence 50% of the time. Finding resolved.

Funded

3106608

XXXX

1174334

03/31/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval, only the (redacted) is in the file (redacted).

04/07/2026

Loan approval provided with approval date of (redacted). Finding resolved. - 04/07/2026 Loan approval provided with approval date of 3/2/26. Finding resolved.

Funded

3106608

XXXX

1174348

03/31/2026

Credit

Property Type is prohibited

PROP 0002

Acknowledged

Per guidelines, all properties must contain a minimum of (redacted) square feet of gross living area (GL (redacted)). Per the appraisal, the subject only has (redacted) square feet (redacted).

04/07/2026 EV2/B - Lender exception provided with compensating factors.

Funded

3106695

XXXX

1171833

03/13/2026

Compliance

Final APR Outside Tolerance of .125 from APR 3 Business Days Prior to Closing

TRID 0206

Acknowledged

Funded

3106695

XXXX

1172754

03/19/2026

Credit

Missing Evidence of sale of property owned

HUD 0011

Acknowledged

Funded

3106695

XXXX

1172757

03/19/2026

Credit

Back-end Ratio exception (DTI)

CRED 0004

Acknowledged

Funded

3106863

XXXX

1172676

03/19/2026

Property

Property Acreage exceeds 10 Acres

APPR 0029

Acknowledged

03/25/2026 EV2/B - Lender Acknowledged Exception, pricing adjustments documented in file for the guideline exceptions.

Approved

3106863

XXXX

1172677

03/19/2026

Property

Appraisal Discrepancy

APPR 0076

Closed

04/09/2026

04/09/2026 Two additional rental comparables provided demonstrating market acceptance. Finding resolved.

Approved

3106863

XXXX

1172678

03/19/2026

Credit

Minimum required cash investment for transaction not made

CRED 0046

Acknowledged

03/25/2026 EV2/B - Lender Acknowledged Exception, pricing adjustments documented in file for the guideline exceptions.

Approved

3106863

XXXX

1173024

03/20/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

03/25/2026

03/25/2026 Finding is cleared with the attached underwriting decision.

Approved

3107034

XXXX

1177756

04/22/2026

Credit

HOA Payment is not verified

CRED 0133

Closed

Missing evidence of HOA dues on (redacted) Reviewer used (redacted) as reflected on the final (redacted)

04/30/2026

Low DTI - DTI (redacted) up to (redacted) acceptable.; Verified credit history - FICO (redacted), minimum required (redacted).;

04/30/2026 Finding is cleared with the attached homeowner transaction history. - 04/30/2026 Finding is cleared with the attached homeowner transaction history.

Funded

3107169

XXXX

1173700

03/26/2026

Credit

Non-Arms Length Transaction

CRED 0026

Acknowledged

Loan Originator Name has same maiden last name of borrower: (redacted), (redacted) . Per guidelines (redacted) no NAL allowed. LOE not provided regarding arm's length from borrower.

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified housing payment history - (redacted) mths mtg history (redacted). Guideline requirement (redacted). ; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/10/2026 EV2/B -Investor Acknowledged Exception

04/06/2026 Investor exception required. Loan originator is daughter of borrower.

Approved

3107169

XXXX

1173702

03/26/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Proof of insurance (redacted) reflects Fair Rental Loss but does not state coverage amount or number of months. Per guidelines, (redacted), investment property must include (redacted) month rent loss coverage.

04/17/2026

04/17/2026 Finding is cleared with the attached updated insurance policy, (redacted) months rent loss coverage included. - 04/17/2026 Finding is cleared with the attached updated insurance policy, (redacted)months rent loss coverage included.
04/06/2026 fair rental loss included in subject policy. Please confirm it provides at least 6 months worth of rent (time or dollar equivalent). Additionally, email rebuttal document refers to page (redacted) of the attached document. (redacted) was not provided evidencing fair rental loss amounts.

Approved

3107199

XXXX

1179553

04/30/2026

Compliance

Missing evidence of the Seller Closing Disclosure

TRID 0193

Closed

Missing Seller CD/HUD/ALTA.

05/07/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted).; Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/07/2026 Finding is cleared with the attached Seller CD. - 05/07/2026 Finding is cleared with the attached Seller CD.

Funded

3107199

XXXX

1179687

04/30/2026

Property

Missing Required Property Inspection

PROP 0003

Acknowledged

Missing CDA or Desk Review as required per guidelines.

Low LTV/CLTV/HCLTV - Low LTV of (redacted).; Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/12/2026 EV2/B - Finding is downgraded with the attached post-consummation dated CDA.

Funded

3107199

XXXX

1179725

04/30/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing income documentation supporting the (redacted) retirement income for (redacted). The only income documentation for this borrower in the file is a (redacted), not relevant to retirement income. The borrower's (redacted) statements reflect monthly deposits of (redacted) from (redacted), using this figure the DTI is (redacted) and exceeds the lender's DTI by more than (redacted).

05/07/2026

Low LTV/CLTV/HCLTV - Low LTV of (redacted).; Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/07/2026 Finding is cleared with the attached contract schedule. - 05/07/2026 Finding is cleared with the attached contract schedule.

Funded

3107406

XXXX

1177920

04/23/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval, only the (redacted) is in the file.

04/29/2026

Verified employment history - Borrower has been self-employed for (redacted) years and in same line of work for (redacted).;

04/29/2026 Finding is cleared with the attached underwriting decision. - 04/29/2026 Finding is cleared with the attached underwriting decision.

Funded

3107436

XXXX

1177614

04/22/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Investor lock confirmation did not include a waiver for tax and insurance escrows, however escrows not included on final CD. Escrow waiver signed at closing. Missing investor acknowledgement of change in loan terms.

04/29/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted) ; Verified credit history -(redacted) fico w/a minimum requirement of (redacted) ; Low LTV/CLTV/HCLTV - 70%LTV. Max (redacted) LTV.;

04/29/2026 Confirmation received from lender that lock terms were updated with investor. - 04/29/2026 Confirmation received from lender that lock terms were updated with investor.
04/23/2026 (redacted) Lock received. Missing updated (redacted) lock or acknowledgment in change of terms from original investor lock.

Funded

3107496

XXXX

1177525

04/21/2026

Credit

LTV Exceeds Max Allowed

CRED 0010

Acknowledged

Subject LTV is (redacted), the maximum LTV for a first time investor is (redacted). Missing evidence the borrower has owned an investment property for (redacted) months in the last (redacted) years (redacted). Per the application, only able to confirm the borrower owns a primary residence.

05/06/2026 EV2/B - Lender approved exception.

Funded

3107496

XXXX

1177526

04/21/2026

Credit

Fraud report alerts have not been addressed

FRAUD 0001

Closed

Missing documentation used to clear the EPLS hit for the (redacted) (redacted)

05/06/2026

05/06/2026 Finding is cleared with the attached (redacted) search, (redacted). - 05/06/2026 Finding is cleared with the attached (redacted) search, (redacted).

Funded

3107592

XXXX

1172995

03/20/2026

Credit

Missing Sufficient Evidence of Insurance

INS 0001

Acknowledged

Provide evidence of Rent Loss of (redacted) month coverage for subject property.

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted)LTV - Max (redacted)LTV;

04/15/2026 Investor Acknowledged Exception, Credit score of 786 is 20 points greater than program minimum and LTV of (redacted) is (redacted) or more below program max.
04/06/2026 Missing confirmation from insurer that the business income and expense coverages is the same as rent loss coverage. It appears that business income covers lost revenue and operating expenses for a business occupant, while loss of rent covers a landlord’s lost income.
--
--
Per policy e(1)...With respect to the requirements set forth in the preceding paragraph, if you occupy only part o the site at which the described premises are located, your premises means: (a) - The portion of the building which you rent, lease or occupy;

03/26/2026 Attached policy doesn't appear to include rent loss coverage. The policy includes business income and extra expense coverages, which is not the same as rent loss coverage.

Approved

3107592

XXXX

1173136

03/23/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Missing Business Purpose and Occupancy Affidavit

03/26/2026

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Low LTV/CLTV/HCLTV - (redacted)LTV - Max (redacted)LTV;

03/26/2026 Finding is cleared with the attached Business Purpose and Occupancy Affidavit.

Approved

3107664

XXXX

1178719

04/28/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

Borrower has xx NSF's in (redacted) month period: Borrower LOX pg xxxx. Per the(redacted) and(redacted) the guidelines requirement is Max (redacted) NSF in last (redacted) months.

Low LTV/CLTV/HCLTV - Low LTV of (redacted) ; Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - (redacted) DTI. Max (redacted) DTI.;

05/01/2026 EV2/B Investor Approved Exception with comments "Bank statement to verify stable to increasing deposits and balances. Updated statements to reflect (redacted) NSFs in the most recent (redacted) months.

Funded

3107664

XXXX

1189275

06/16/2026

Credit

Borrowers from Data Tape do not match Borrowers on the Note

NOTE 0057

Acknowledged

Low LTV/CLTV/HCLTV - Low LTV of (redacted) .; Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - (redacted) DTI. Max (redacted) DTI.;

06/16/2026 EV2/B - Recd corrected Note; property address updated to (redacted).

Funded

3107724

XXXX

1177750

04/22/2026

Credit

Missing Employment doc (VOE)

CRED 0007

Closed

Missing Certificate of Good Standing for (redacted) as required.

04/29/2026

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV. ; Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/29/2026 (redacted) in file confirms active business status. - 04/29/2026 (redacted) in file confirms active business status.

Funded

3108051

XXXX

1177764

04/22/2026

Credit

Missing Letter of Explanation

CRED 0104

Closed

Missing LOE addressing the use of cash out proceeds, as required per guidelines.

04/23/2026

Verified reserves - (redacted) months reserves required, (redacted) months verified.;

04/23/2026 NTB worksheet executed by borrower reflects funds will be for business purposes only. - 04/23/2026 NTB worksheet executed by borrower reflects funds will be for business purposes only.

Approved

3108051

XXXX

1177765

04/22/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval, only the (redacted) is in the file.

04/23/2026

Verified reserves - (redacted) months reserves required, (redacted) months verified.;

04/23/2026 Lender approval received. - 04/23/2026 Lender approval received.

Approved

3108051

XXXX

1177766

04/22/2026

Credit

Fraud report alerts have not been addressed

FRAUD 0001

Closed

Missing documentation used to clear the fraud alert for the Operations Manager XXXX, comment states they are no longer with the company - updated fraud report with the current operations manager should be pulled. If participant was active during origination, lender to provide documentation to clear.

04/23/2026

Verified reserves - (redacted) months reserves required, (redacted) months verified.;

04/23/2026 Clear SAM search received. - 04/23/2026 Clear (redacted) search received.

Approved

3108204

XXXX

1177801

04/23/2026

Credit

Condo Documentation is Insufficient

COND 0002

Closed

Missing Condo Project Questionnaire as required.

05/01/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/01/2026 Finding is cleared with the attached condo warranty form, (redacted) units is exempt. - 05/01/2026 Finding is cleared with the attached condo warranty form, 2-4 units is exempt.

Funded

3108456

XXXX

1175896

04/10/2026

Credit

Back-end Ratio exception (DTI)

CRED 0004

Closed

Variance of (redacted): (redacted)DTI per QC review. (redacted) DTI. PITIA on primary should be (redacted)/month. The lender (redacted)/month did not include tax/insurance. QC review calculated (redacted)/month rental income. Max (redacted) DTI.

05/22/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mtgs mtg history paid (redacted).

; Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.;

05/22/2026 Finding is cleared with the attached updated 1003, rental income added. Email correspondence confirms delivery to borrower.
05/18/2026 Finding can be cleared upon receipt of the revised 1003 that includes rental income on the subject property. Evidence of delivery to borrower can be accepted in lieu of the borrowers signature.
--
Per guidelines, Rental income can be used for qualifying when disclosed on the loan application.
05/12/2026 Finding can be cleared upon receipt of the revised 1003 that includes rental income on the subject property. Evidence of delivery to borrower can be accepted in lieu of the borrowers signature.
--
Per guidelines, Rental income can be used for qualifying when disclosed on the loan application.
04/29/2026 Missing revised 1008 account for taxes and insurance on primary residence. Review DTI (redacted) excluding closing costs and reserves prior to haircut application on asset utilization.

Funded

3108456

XXXX

1175902

04/10/2026

Credit

Missing Condo Project Approval

COND 0001

Closed

The file is missing the Condo questionnaire within (redacted) days of closing.

04/21/2026

04/21/2026 Finding is cleared with the attached condo questionnaire. - 04/21/2026 Finding is cleared with the attached condo questionnaire.

Funded

3108456

XXXX

1176423

04/15/2026

Property

Missing Third Party Appraisal Review

APPR 0046

Closed

Missing (redacted) AVM or like product. Subject is (redacted) LTV.

04/21/2026

04/21/2026 Investor confirmed that for (redacted) the guidelines supersede the matrices regarding the CDA requirement. The matrix requires the CDA, but the guidelines allow the use of an acceptable SSR score. - 04/21/2026 Investor confirmed that for (redacted) the guidelines supersede the matrices regarding the CDA requirement. The matrix requires the CDA, but the guidelines allow the use of an acceptable SSR score.

Funded

3108576

XXXX

1181839

05/08/2026

Credit

Purchase Contract is Deficient

CRED 0085

Closed

Missing amendment to Purchase Agreement to remove (redacted) purchaser. Purchase Contract (redacted) in names of (redacted). Final Mortgage and CD in name of (redacted) only.

05/22/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/22/2026 Agree, borrower is on purchase contract and title. - 05/22/2026 Agree, borrower is on purchase contract and title.
05/18/2026 Please provide the section of the guidelines being referenced. Second purchaser was not added to title. Missing amendment to Purchase Agreement to remove 2nd purchaser, XXXX.

Funded

3108858

XXXX

1173012

03/20/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Missing Final Application executed as an individual. Final Application is executed as Managing Member and not as individual.

Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Verified reserves - (redacted) mths verified reserves. Minimum required is (redacted).; Verified housing payment history - (redacted) mths mtg history verified (redacted). Minimum requirement;

04/13/2026 Finding is cleared with the attached (redacted) signed by the borrower individually. - 04/13/2026 EV2/B - Finding is downgraded with the attached 1003 signed by the borrower individually.

03/26/2026 Note was executed as an induvial. 1003 should be executed as an induvial.

Approved

3108858

XXXX

1173419

03/24/2026

Credit

Discrepancy between 1003 and documentation stated and/or verified in file

APP 0006

Acknowledged

Final (redacted) section of REO indicates that the borrower does not own any REO. Borrower owns multiple REO with documented mortgages. (redacted) should include all REO with mortgages matched.

03/24/2026 EV2/B - Non-material correction to 1003.

Approved

3109671

XXXX

1175406

04/07/2026

Credit

Entity Documentation is Insufficient

CRED 0143

Closed

The file is missing the Operating Agreement for (redacted)

04/17/2026

Low LTV/CLTV/HCLTV - (redacted) LTV w/a maximum allowed of (redacted).

; Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - 0x30 mortgage history for (redacted) months.

;

Finding is cleared with the attached operating agreement. Refer (redacted). - 04/17/2026 Finding is cleared with the attached operating agreement. Refer GIDE 0001.

Funded

3109671

XXXX

1175412

04/07/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Missing Certificate of Authorization for the person executing all documents on behalf of the Entity, (redacted).

04/28/2026

04/28/2026 Finding is cleared with the attached corporate resolution. - 04/28/2026 Finding is cleared with the attached corporate resolution.
04/17/2026 Missing corporate resolution signed by both managing members, (redacted), acknowledging the transaction and authorizing the guarantor, (redacted), to sign on behalf of the company. Per the operating agreement, matters involving significant financial commitments, changes to ownership, or long-term obligations of the Company shall require approval by Members holding a majority of the ownership interests.

Funded

3109671

XXXX

1175500

04/08/2026

Compliance

Missing Note

NOTE 0001

Closed

Missing a copy of the Note.

04/16/2026

Copy of fully executed note provided. - 04/16/2026 Copy of fully executed note provided. Finding resolved.

Funded

3109683

XXXX

1175636

04/08/2026

Credit

Borrower does not have a 2 year earnings history

CRED 0027

Acknowledged

The borrower's business has not been in existence for (redacted) months. The borrower was previously self employed per LOE, sold the business in (redacted), and started their current business in (redacted). Investor acknowledged exception in the file (redacted).

Minimal outstanding debt - Borrowers credit report reflects minimal outstanding debt owed with balances well under high credit limits on accounts outstanding.; Low DTI - Low DTI of (redacted).;

04/16/2026 EV2/B Investor Acknowledged Exception p6

Approved

3109917

XXXX

1177761

04/22/2026

Credit

Entity Documentation is Insufficient

CRED 0143

Closed

Missing the tax identification number for the borrower entity (redacted) to (redacted), as required per guidelines.

04/30/2026

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted) . ; Low DTI - Maximum DTI of (redacted) with review DTI of (redacted) . ;

04/30/2026 Finding is cleared with the attached EIN. - 04/30/2026 Finding is cleared with the attached EIN.

Funded

3109917

XXXX

1177763

04/22/2026

Credit

Missing Employment doc (VVOE)

CRED 0006

Acknowledged

Missing verification of (redacted) within (redacted) calendar days of the Note date. The file includes a VVOE form (redacted) that states it was verified through a (redacted) letter. No (redacted) letter in the file for this entity, the only (redacted) letters located are related to (redacted). No (redacted) for this entity in the file.

Verified credit history - Required FICO of (redacted) with actual FICO of (redacted) . ; Low DTI - Maximum DTI of (redacted) with review DTI of (redacted) . ;

05/19/2026 EV2/B - Finding is downgraded with the attached post-consummation dated (redacted) search, which is in support of the attached pre-consummation dated website search for the self-employment business, and two years tax returns with (redacted) years K1s provided in file.
05/06/2026 Attached (redacted) letter is for (redacted) and does not verify self-employment. Missing (redacted) letter, (redacted), associated with VOE completed (redacted).
04/30/2026 VVOE form (p268) that states it was verified through a CPA letter. No CPA letter in the file for this entity.

Funded

3110448

XXXX

1175724

04/09/2026

Credit

APN Number and/or Legal Descriptions do not match security instrument

COLL 0002

Acknowledged

APN on DOT (redacted)is(redacted); legal description (redacted) is (redacted); appraisal (redacted) is (redacted); title commitment (redacted) is (redacted).

Verified employment history - Borrower has been self-employed for (redacted) years.; Low DTI - (redacted) DTI. Max (redacted) DTI.; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

04/14/2026 EV2/B Legal description on DOT is incomplete, however, Ext A with correct APN is attached.

Approved

3110448

XXXX

1175752

04/09/2026

Credit

Fraud report alerts have not been addressed

FRAUD 0001

Closed

High fraud alerts not addressed (redacted) Alerts regarding additional loans registered/potential undisclosed REO; possibility of inflated income; possible SAM match; and subject property has at least one transaction within last 90 days.

04/21/2026

04/21/2026 Finding is cleared with the attached UW Addendum addressing all high risk fraud findings. - 04/21/2026 Finding is cleared with the attached UW Addendum addressing all high risk fraud findings.

Approved

3110913

XXXX

1177056

04/17/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing Underwriter Loan Approval

04/24/2026

Verified reserves - (redacted) mths reserves w/a minimum requirement of (redacted).;

04/24/2026 Finding is cleared with the attached underwriting decision. - 04/24/2026 Finding is cleared with the attached underwriting decision.

Funded

1037020

XXXX

1177691

04/22/2026

Compliance

Missing CD(s).

TRID 0208

Closed

Missing final CD for dry funding state. CD signed at closing does not match HUD-1. (redacted).

05/04/2026

05/04/2026 Finding is cleared with the attached dry funding CD. - 05/04/2026 Finding is cleared with the attached dry funding CD.

Funded

3111060

XXXX

1177414

04/21/2026

Compliance

Estimated Property Costs over Year 1 Are Not Accurate

TRID 0204

Closed

05/29/2026

05/29/2026 Received confirmation from insurance agent that (redacted)is a one time fee and not to be included in annualized collection of HOI fee. Finding resolved.
05/19/2026 Disagree, property costs over year 1, which is driven by the disclosed estimated Taxes, Insurance and Assessments is within scope. Finding can be downgraded upon receipt of PCCD with cover letter addressing the reason for redisclosure.

Funded

3111828

XXXX

1178001

04/24/2026

Credit

Unacceptable Mortgage History

CRED 0001

Closed

Missing mortgage payment history for subject property with (redacted). Max (redacted).

04/30/2026

04/30/2026 TPR set in error, supplement in file confirms (redacted). - 04/30/2026 TPR set in error, supplement in file confirms (redacted).

Funded

3111828

XXXX

1178002

04/24/2026

Credit

Number of Properties Owned by Borrower exceeds Guidelines

CRED 0023

Closed

Number of properties owned exceed guidelines (redacted). "Borrowers are limited to (redacted) investment properties that can be originated to any one borrower under DSCR program." In addition to borrower's primary the Borrower owns (redacted) investment properties including subject.

04/30/2026

04/30/2026 TPR set in error, (redacted) of (redacted) investment properties are owned free and clear and the remaining have mortgages held with other lenders. - 04/30/2026 TPR set in error, (redacted) of (redacted) investment properties are owned free and clear and the remaining have mortgages held with other lenders.

Funded

3111828

XXXX

1178157

04/24/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing lender loan approval. Conditions Sheet (redacted) reflects approved (redacted) and expired (redacted). Loan confirmation generated (redacted) is not an approval.

04/30/2026

04/30/2026 Finding is cleared with the attached loan approval. - 04/30/2026 Finding is cleared with the attached loan approval.

Funded

3112131

XXXX

1175682

04/09/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final (redacted) section of REO indicates that the borrower does not own any REO. Borrower owns other REO with documented mortgages. (redacted) should include all REO with mortgages matched

Verified reserves - (redacted) months of verified reserves using cash out proceeds. GL required (redacted).;

04/09/2026 EV2/B Non-material corrections to 1003.

Funded

3112251

XXXX

1177968

04/23/2026

Credit

Missing Schedule of Real Estate Owned

APP 0005

Acknowledged

(redacted) does not disclose a REO that is related to (redacted) Mortgage opened (redacted) with a balance of (redacted). All mortgages the borrower is personally labile for should be disclosed on the (redacted).

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).; Verified housing payment history - Borrower has more than (redacted) mths of mtg history verified 0x30. Max allowed of (redacted).;

05/06/2026 EV2/B DSCR Loan., Mortgage History verified (redacted).

Funded

3112485

XXXX

1178410

04/27/2026

Credit

Missing Sufficient Evidence of Insurance

INS 0001

Closed

(redacted) months' rent loss coverage not verified: Per the guidelines, Insurance must include (redacted) month rent loss coverage based on the lesser of monthly rent or PITI.

05/01/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths mortgage history paid 0x30. Minimum required (redacted).

;

05/01/2026 Finding is cleared with the attached EOI reflecting loss of use coverage. Included email from the insurer confirms loss of use coverage is the same as rent loss coverage. - 05/01/2026 Finding is cleared with the attached EOI reflecting loss of use coverage. Included email from the insurer confirms loss of use coverage is the same as rent loss coverage.

Funded

3112485

XXXX

1178416

04/27/2026

Credit

Missing evidence of Hazard Insurance

HAZ 0005

Closed

The file is missing evidence of HO6 coverage. The master insurance (redacted) did not include walls-in coverage. For DSCR ratio purposes QC review included monthly payment based on premium paid at time of loan closing (redacted).

05/01/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths mortgage history paid 0x30. Minimum required (redacted).

;

05/01/2026 Finding is cleared with the attached EOI. - 05/01/2026 Finding is cleared with the attached EOI.

Funded

3112485

XXXX

1178973

04/28/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

The file is missing Business Purpose & Occupancy Affidavit for DSCR program.

05/01/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths mortgage history paid 0x30. Minimum required (redacted).

;

05/01/2026 Finding is cleared with the attached Business Purpose & Occupancy Affidavit. - 05/01/2026 Finding is cleared with the attached Business Purpose & Occupancy Affidavit.

Funded

3112554

XXXX

1178457

04/27/2026

Compliance

HPML Appraisal Requirements are Not Met

APPR 0044

Acknowledged

Funded

3112560

XXXX

1178487

04/27/2026

Credit

Entity Documentation is Insufficient

CRED 0143

Closed

The file is missing the Operating Agreement for (redacted). Per the guidelines, for sole proprietorships and loans where all owners of the entity are borrowers on the loan, an Operating agreement must be obtained.

05/01/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).

; Verified housing payment history - (redacted) mths mortgage history paid (redacted). Minimum requirement (redacted).;

05/01/2026 Per guidelines, For multi-member entities (i.e. (redacted) or more owners) where only one member is a borrower on the loan, a Corporate Resolution must be obtained. Finding is cleared with the corporate resolution. - 05/01/2026 Per guidelines, For multi-member entities (i.e. 2 or more owners) where only one member is a borrower on the loan, a Corporate Resolution must be obtained. Finding is cleared with the corporate resolution.

Funded

3112560

XXXX

1178993

04/28/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final (redacted) section of REO indicates that the borrower owns multiple REO, however, (redacted) does not document mortgage information. (redacted) should include all REO with mortgages matched

04/28/2026 EV2/B - Non-material corrections to 1003.

Funded

3112977

XXXX

1179967

05/01/2026

Compliance

Missing Legal Description on Mortgage/DOT

DEED 0021

Closed

Missing legal description to deed of trust.

05/11/2026

Verified housing payment history - (redacted) mths mtg history paid (redacted) w/a guideline requirement of (redacted).; Low DTI - (redacted) DTI. Max (redacted) DTI.;

05/11/2026 Finding is cleared with the attached complete copy of the Mortgage that includes the legal description. - 05/11/2026 Finding is cleared with the attached complete copy of the Mortgage that includes the legal description.

Funded

3112977

XXXX

1179974

05/01/2026

Property

Non-Warrantable Condominium

COND 0011

Closed

Missing valid condo project review. Per final (redacted) rate lock (redacted), condo project is non-warrantable.

05/06/2026

Verified housing payment history - (redacted) mths mtg history paid (redacted) w/a guideline requirement of (redacted).; Low DTI - (redacted) DTI. Max (redacted) DTI.;

05/06/2026 Completed (redacted) Non-QM Mortgage Condominium
Project Questionnaire provided. Finding resolved. - 05/06/2026 Completed (redacted) Non-QM Mortgage Condominium
Project Questionnaire provided. Finding resolved.

Funded

3112977

XXXX

1180538

05/04/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing lender approval. (Confirmation generated (redacted))

05/06/2026

Verified housing payment history - (redacted) mths mtg history paid (redacted) w/a guideline requirement of (redacted).; Low DTI - (redacted) DTI. Max (redacted) DTI.;

05/06/2026 UW Loan approval provided. Finding resolved. - 05/06/2026 UW Loan approval provided. Finding resolved.

Funded

3113298

XXXX

1178022

04/24/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

Missing (redacted) , Certificate of Good Standing and Evidence of signing authority for Guarantor.

Verified reserves - (redacted) months of verified reserves w/a min required (redacted) .; Verified housing payment history - (redacted) months of verified mortgage history paid (redacted) . Guidelines require (redacted) .;

05/15/2026 EV2/B - Finding is downgraded with the post consummation dated (redacted) confirming an active business status. Investor confirmed (redacted) can be accepted in lieu of COGS. Attached is the company resolution authorizing the borrower to sign on behalf of the company.
05/06/2026 Confirming with investor that a (redacted) can be accepted in lieu of a COGS. Still missing certificate of authorization for guarantor executing all documents on behalf of entity.
04/29/2026 Finding is partially downgraded with the attached post consummation dated (redacted) confirming an active business status. Still missing Certificate of Good Standing and Evidence of signing authority for Guarantor.

Funded

3114774

XXXX

1180704

05/05/2026

Compliance

Missing Base Index Rate

COMP 0008

Closed

Missing evidence of the index rate, review used index of (redacted) per (redacted).

05/22/2026

05/22/2026 Finding is cleared with the attached documented index rate of (redacted). - 05/22/2026 Finding is cleared with the attached documented index rate of (redacted).
05/12/2026 Recd initial LE. -- Finding remains. Missing is the documented ARM Index Rate. The lock, approval, amortization schedule and closing instructions in file do not reflect the ARM Index used to calculate the qualifying payment.

Funded

3114774

XXXX

1180833

05/05/2026

Credit

Missing proof of PITI payment on non-subject property

CRED 0096

Closed

Missing Note, CD, or alternative documentation from the purchase of (redacted) to confirm P&I as well as origination date to confirm no payment history is yet available. Taxes and insurance for this property are documented in the file (redacted), (redacted) only reflects a mortgage payment of (redacted) indicating these are escrowed.

05/12/2026

05/12/2026 Finding is cleared with the attached CD. - 05/12/2026 Finding is cleared with the attached CD.

Funded

3114774

XXXX

1180834

05/05/2026

Credit

Missing Flood Insurance Cert.

FLOOD 0007

Closed

Missing flood certificate with the complete property address,(redacted). The flood certificate in the file (redacted) only reflects (redacted) for the street address.

05/12/2026

05/12/2026 Finding is cleared with the attached flood cert. - 05/12/2026 Finding is cleared with the attached flood cert.

Funded

3114813

XXXX

1179559

04/30/2026

Property

Missing Third Party Appraisal Review

APPR 0046

Closed

Missing third party desk review. No CU score provided-new construction.

06/04/2026

Verified housing payment history - (redacted) mths mtg history (redacted) . Guideline requirement (redacted) . ; Verified reserves - (redacted) mths verified reserves w/ minimum requirement of (redacted) .; Verified credit history - (redacted) fico w/a minimum requirement of (redacted) .;

06/04/2026 Finding is resolved with the attached SSR with a score of (redacted).
06/01/2026 You can re-run the SSR, or provide the one from 3/30/26 that actual shows the CU score.
05/22/2026 SSRs in file reflect (redacted)analysis could not be performed and (redacted) Risk could not assessed.

Funded

3114813

XXXX

1179579

04/30/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Closed

Missing LOE to confirm the funds are from an acceptable source (GLpxx): Large deposits exceeding (redacted) of loan amount to (redacted) A/#xxxx incoming wire from(redacted) dated x/xx/xxxx for ($) (pxxx) and incoming wire from (redacted) dated x/xx/xx for ($) (pxxx).

05/18/2026

05/18/2026 Agree, guidelines require large deposits into a personal accounts to be sourced. Guidelines do not reflect any requirements for large deposits being posted to a business account.

Funded

3114813

XXXX

1179596

04/30/2026

Credit

Guideline Exception(s)

GIDE 0001

Closed

Missing Business Purpose and Occupancy Affidavit per G/L pxx. (Executed Business Purpose Disclosure and Borrower Certification and Acknowledgment pxx and Occupancy Certification (redacted) . G/L px)

05/22/2026

05/22/2026 Finding re-reviewed and cleared. Business Purpose Disclosure and Occupancy Statement executed at closing provided in file. GL doesn't indicate that a specific form must be used.

05/18/2026 Finding re-reviewed and cleared. Business Purpose Disclosure and Occupancy Statement executed at closing provided in file. GL doesn't indicate that a specific form must be used.

Funded

3114846

XXXX

1180710

05/05/2026

Credit

Missing Leasehold Agreement and/or Not Executed properly by all parties

LHLD 0001

Closed

Missing leasehold agreement to verify expiration date.

05/12/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) ; Verified housing payment history - (redacted) mths mtg history paid (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

05/12/2026 Recd long term lease agreement with expiration date of (redacted).
- 05/12/2026 Recd long term lease agreement with expiration date of (redacted).

Funded

3114846

XXXX

1180729

05/05/2026

Credit

Back-end Ratio exception (DTI)

CRED 0004

Closed

(redacted) DTI per QC review. Lender (redacted) DTI. Variance of (redacted) is due to exclusion of rental income of (redacted)/month (redacted) at (redacted) vacancy factor on subject property. Questionnaire reflects subject property includes a (redacted) month minimum allowable time period for renting a unit (redacted). (Non-warrantable project per review (redacted) based on leasehold and rental program) Borr qualifies for Max (redacted) DTI.

05/12/2026

Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted) .; Verified housing payment history - (redacted) mths mtg history paid (redacted).; Verified credit history - (redacted) fico w/a minimum requirement of (redacted).;

05/12/2026 HOA Questionnaire requires a minimum (redacted) month rental term, subject is not a short term rental. Finding set in error. - 05/12/2026 HOA Questionnaire requires a minimum (redacted) month rental term, subject is not a short term rental. Finding set in error.

Funded

3114876

XXXX

1179727

04/30/2026

Credit

Condo Documentation is Insufficient

COND 0002

Closed

Missing completed XXXX Non-QM Condo Project Questionnaire (or equivalent) within 90 days of closing and 2) Missing Condo Structural Inspection.

05/26/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Low DTI - Low DTI of (redacted) .;

05/26/2026 XXXX Condo Review Questionnaire provided dated (redacted). Finding resolved.
05/07/2026 Missing project questionnaire, as required per guidelines.
--
Per guidelines, A valid project review is required for all condominium transactions, along with a completed (redacted) Non-
QM Condominium Project Questionnaire (or equivalent form). The Condominium Project Questionnaire may not be greater than (redacted) days old at the time of closing.

Funded

3114876

XXXX

1179729

04/30/2026

Credit

Missing Condo Project Approval

COND 0001

Closed

Missing valid project review for condominium project. Unable to verify Lender Project Condo Classification of Warrantable as provided by lender on tape.

05/07/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Low DTI - Low DTI of (redacted) .;

05/07/2026 Finding is cleared with the attached (redacted), approved by (redacted).

Funded

3114876

XXXX

1179870

05/01/2026

Credit

Missing Bank Statement(s)

CR 0012

Acknowledged

Missing 6 months of bank statements for accounts used in asset depletion. (redacted) (pxxx) and (redacted) A/#xxxx (p172/161).

Verified reserves - (redacted) months of verified reserves when GL required (redacted) ; Low DTI - Low DTI of (redacted) .;

06/03/2026 EV2/B - Investor Acknowledged Exception
06/02/2026 Internal lender exception received, finding remains pending Investor exception approval.
05/26/2026 Reject - verification of (redacted) month seasoning of (redacted) not met. VOD dated (redacted) (redacted) for (redacted) is insufficient to satisfy (redacted) month seasoning guideline requirement (redacted) ( (redacted)month statement (redacted) through (redacted) (redacted) in original loan file) Note: Review included (redacted) (redacted) balance (redacted) in total assets not shown on lender 1008/1003. Excluding this account results in insufficient funds to close. Updated 1008 verified assets (redacted) less (redacted) for asset depletion does leave sufficient funds for closing and reserves.
05/07/2026 Partially agree, death certificate provided, (redacted), with borrower LOE and (redacted) (redacted) (redacted) statement showing no deposits YTD with funds being transferred to borrowers (redacted) account. Borrowers (redacted) account statement evidences receipt of funds from the decedents account.
--
Finding remains. Still missing (redacted) months asset statements for (redacted) retirements account. Statement in file (redacted) covers (redacted), but is missing pages (redacted).

Funded

3114882

XXXX

1179085

04/29/2026

Compliance

Flood Notice Was Not Provided to Applicant(s)

FLOOD 0001

Closed

Missing clarification of the flood zone. The appraisal and the elevation certificate reflect the property is in Zone (redacted). The flood certificate reflects (redacted). Both the flood certificate and the appraisal reflect the same (redacted) Map number and date. No flood insurance in the file, so no flood insurance premium is included or escrowed and no notice of special flood hazards was delivered to the borrower. No letter from (redacted) in the file.

Appraisal Flood Zone (redacted) Map (redacted) dated (redacted), page (redacted). Flood Certificate reflects Flood Zone (redacted) Map (redacted) dated (redacted), page (redacted). Elevation Certificate page (redacted), reflects zone (redacted).

GL page (redacted): Appraisal should accurately reflect flood zone. Flood insurance requirement can be waived if: Subject property improvements are not in the same Special Flood Hazard, even though part of the land in in Flood Zone (redacted) or (redacted); or Borrowers obtains a letter from (redacted) stating maps have been amended do subject property is no longer in area of Special Flood Hazard.

05/18/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/18/2026 Recd new elevation certificate reflecting flood zone (redacted), which matches to the revised appraisal and flood certificate. - 05/18/2026 Recd new elevation certificate reflecting flood zone (redacted), which matches to the revised appraisal and flood certificate.
05/06/2026 Surveyor elevation certificate flood zone (redacted) does not match the flood zone (redacted)on the flood cert (redacted). (redacted) flood search indicates subject is located in flood zone (redacted). Flood cert does not appear to be accurate.

Funded

3114882

XXXX

1179091

04/29/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

The DSCR for the transaction is (redacted), and the borrower is a first time investor. Per the matrix for DSCR CORE, the minimum DSCR for a first time investor is (redacted). Missing approved exception to guidelines.

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/06/2026 EV2/B Lender approved exception. Investor lock confirmation confirms pricing adjustment for DSCR < (redacted).

Funded

3114882

XXXX

1179175

04/29/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Missing REO information on pending/simultaneous purchase of second property closing under loan (redacted). (redacted) must reflect all properties owned or pending.

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/06/2026 EV2/B - Non-material corrections to 1003.

Funded

3114882

XXXX

1179189

04/29/2026

Credit

Missing CD and/or Note for Concurrent Mortgage Transaction(s)

CRED 0148

Closed

Missing CD and/or Note on Concurrent mortgage closing under loan (redacted).

05/01/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/01/2026 Finding is cleared with the attached CD and Note. - 05/01/2026 Finding is cleared with the attached CD and Note.

Funded

3114882

XXXX

1179321

04/29/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval, only the (redacted) is in the file (redacted).

05/01/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/01/2026 Finding is cleared with the attached Underwriting Decision. - 05/01/2026 Finding is cleared with the attached Underwriting Decision.

Funded

3114924

XXXX

1179122

04/29/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Missing REO information on pending/simultaneous purchase of second property closing under loan (redacted). (redacted) must reflect all properties owned or pending.

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/06/2026 EV2/B - Non-material corrections to 1003.

Funded

3114924

XXXX

1179136

04/29/2026

Compliance

Flood Notice Was Not Provided to Applicant(s)

FLOOD 0001

Closed

Missing clarification of the flood zone. The appraisal and the elevation certificate reflect the property is in Zone (redacted). The flood certificate reflects (redacted). Both the flood certificate and the appraisal reflect the same (redacted) Map number and date. No flood insurance in the file, so no flood insurance premium is included or escrowed and no notice of special flood hazards was delivered to the borrower. No letter from (redacted) in the file.

Appraisal reflects Flood Zone (redacted) Map (redacted) dated (redacted), page 317.

Flood Certificate reflects Flood Zone (redacted) Map (redacted) dated (redacted), page (redacted).

Elevation Certificate page (redacted), reflects zone (redacted).

GL page (redacted): Appraisal should accurately reflect flood zone. Flood insurance requirement can be waived if: Subject property improvements are not in the same Special Flood Hazard, even though part of the land in in Flood Zone (redacted) or (redacted); or Borrowers obtains a letter from (redacted) stating maps have been amended do subject property is no longer in area of Special Flood Hazard.

05/18/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/18/2026 Recd new elevation certificate reflecting flood zone (redacted), which matches to the revised appraisal and flood certificate. - 05/18/2026 Recd new elevation certificate reflecting flood zone (redacted), which matches to the revised appraisal and flood certificate.
05/06/2026 Surveyor elevation certificate flood zone (redacted) does not match the flood zone (redacted) on the flood cert (redacted) (redacted) flood search indicates subject is located in flood zone (redacted). Flood cert does not appear to be accurate.

Funded

3114924

XXXX

1179140

04/29/2026

Credit

Guideline Exception(s)

GIDE 0001

Acknowledged

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/06/2026 EV2/B - Lender acknowledged exception. Investor lock confirmation in file confirms pricing adjustment for DSCR < (redacted).

Funded

3114924

XXXX

1179145

04/29/2026

Credit

Missing CD and/or Note for Concurrent Mortgage Transaction(s)

CRED 0148

Closed

Missing CD and/or Note on Concurrent mortgage closing under loan (redacted).

05/01/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/01/2026 Finding is cleared with the attached CD and Note. - 05/01/2026 Finding is cleared with the attached CD and Note.

Funded

3114924

XXXX

1179172

04/29/2026

Credit

Asset Documentation is Insufficient

CRED 0083

Closed

Missing currency conversion of (redacted) account of Pesos to (redacted) Dollars.

05/06/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/06/2026 Finding is cleared with the attached currency conversion from (redacted) to (redacted). - 05/06/2026 Finding is cleared with the attached currency conversion from (redacted) to (redacted).

Funded

3114924

XXXX

1179325

04/29/2026

Credit

Missing Loan Approval Date

APRV 0003

Closed

Missing the lender approval, only the (redacted) is in the file (redacted).

05/01/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).;

05/01/2026 Finding is cleared with the attached underwriting decision. - 05/01/2026 Finding is cleared with the attached underwriting decision.

Funded

3115125

XXXX

1180461

05/04/2026

Credit

Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information

CRED 0103

Closed

Missing tax documentation supporting the amount used by the lender on the (redacted), CD and initial escrow account disclosure, (redacted) monthly (redacted), (redacted) annually (redacted). Per the documentation in the file, the actual tax amount is (redacted) annually (tax bill (redacted), title (redacted), property detail report (redacted)) or (redacted) monthly.

05/12/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted).; Low DTI - Low DTI of (redacted).;

05/12/2026 Finding is cleared. Online search confirms the county offers a (redacted) discount if property taxes are paid in (redacted). Servicer paid (redacted). - 05/12/2026 Finding is cleared. Online search confirms the county offers a (redacted) discount if property taxes are paid in (redacted) Servicer paid (redacted).

Funded

3115533

XXXX

1181854

05/08/2026

Property

Non-Warrantable Condominium

COND 0011

Acknowledged

Subject property is considered Condotel - Transient Occupancy use and Hotel-Type Services offered.

Verified reserves - (redacted) mths reserves w/a minimum requirement of (redacted).; Verified housing payment history - (redacted) mths mtg history paid (redacted). Guideline requirement of (redacted).;

05/11/2026 EV2/B - Exception granted (redacted). Must not be subject to mandatory rental pooling. Condotel Review Addendum provided p896. Exception request (redacted).

Funded

3115533

XXXX

1182113

05/11/2026

Compliance

Scrivener's Error

DEED 0050

Acknowledged

Mortgage (redacted) reflects (redacted) as Borrower, however, the signature page (redacted) reflects signed as (redacted). Warranty Deed (redacted) and Note (redacted) and title (redacted) reflects (redacted).

05/19/2026 EV2/B - Finding is downgraded with the attached recorded copy of the Scrivener's Affidavit.

Funded

3115602

XXXX

1181728

05/08/2026

Property

Subject Borrower does not match Appraisal Borrower Name

APPR 0009

Closed

Owner of record on appraisal (Pxxx) is (redacted). Borrower's business is (redacted) as verified by business documents in file.

05/18/2026

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.; Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified housing payment history - (redacted) mths mtg history paid (redacted) . Guidelines requirement (redacted) .; Verified credit history - (redacted) fico w/a minimum requirement of (redacted) .;

05/18/2026 Finding is cleared with the attached revised appraisal.

Funded

3115602

XXXX

1181730

05/08/2026

Credit

Title Policy - Schedule A Exception

TITL 0013

Closed

Vesting on title commitment (pxxx) is (redacted). Borrower's business is (redacted) as verified by business documents in file. (xxx/xxx/xxx/xxx/xxx) NOTE: Final title policy not available at time of review.

05/18/2026

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.; Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified housing payment history - (redacted) mths mtg history paid (redacted) . Guidelines requirement (redacted) .; Verified credit history - (redacted) fico w/a minimum requirement of (redacted) .;

05/18/2026 Final title policy confirms vesting in the name of (redacted).

Funded

3115602

XXXX

1181876

05/08/2026

Credit

Final 1003 Application is Incomplete

APP 0002

Acknowledged

Final 1003 pg xx section of REO indicates that the borrower does not have financing on any of the REOs. Borrower owns multiple REO with documented mortgages per credit report. 1003 should include all REO with mortgages matched

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.; Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified housing payment history - (redacted) mths mtg history paid (redacted) . Guidelines requirement (redacted) .; Verified credit history - (redacted) fico w/a minimum requirement of (redacted) .;

05/08/2026 EV2/B - Non-material corrections to 1003.

Funded

3115602

XXXX

1181896

05/08/2026

Credit

Income Documentation is Insufficient

CRED 0082

Closed

Missing Articles of Organization for (redacted).

05/26/2026

Low LTV/CLTV/HCLTV - (redacted) LTV. Max (redacted) LTV.; Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Verified housing payment history - (redacted) mths mtg history paid (redacted) . Guidelines requirement (redacted) .; Verified credit history - (redacted) fico w/a minimum requirement of (redacted) .;

05/26/2026 Articles of organization and incorporation for business filed in (redacted) provided. Finding resolved.
05/18/2026 Recd Application by Foreign LLC to Transact Business in (redacted) . -- Finding remains. Missing Articles of Organization for the LLC in (redacted) .

Funded

3117882

XXXX

1190001

06/19/2026

Credit

Missing Underwriter Loan Approval

APRV 0001

Closed

Missing lender approval / underwriting decision. (redacted)

06/23/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).;

06/23/2026 Finding is cleared with the attached approval. - 06/23/2026 Finding is cleared with the attached approval.

Funded

3117882

XXXX

1190028

06/19/2026

Compliance

The Lender Credit and/or the Principal Reduction was not sufficient to overcome the total fee variance.

TRID 0205

Closed

COC for re-disclosed CD issued (redacted) does not provide a reason from the increase to the credit report fee from (redacted) to (redacted).

06/23/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).;

06/23/2026 Credit to cure (redacted) was disclosed on the final CD. Remaining variance (redacted) due to rounding is non-material. - 06/23/2026 Credit to cure (redacted) was disclosed on the final CD. Remaining variance (redacted) due to rounding is non-material.

Funded

3117882

XXXX

1190118

06/19/2026

Property

Non-Warrantable Condominium

COND 0011

Acknowledged

The file does not include evidence that the Condo project met the (redacted) repair requirements and confirmation there are no outstanding critical repairs needed, as required per investor overlay. The file includes a (redacted) project ID: (redacted), dated (redacted), stating, this project is in need of critical repairs, and may have conditions such as material deficiencies and significant deferred maintenance. See Selling Guide Sec. (redacted). The file included an Exterior Elevated Element Inspection Proposal (redacted); however, the proposal does not include the specific work to be done. Further, the file included a formal notification of the warranty provisions applicable to the Phase (redacted); however, the specifics of the work completed was not provided. Per the guidelines, Condo projects must have completed required state-specific structural inspections to evidence no critical repairs needed including (redacted) and Condo projects with outstanding critical repairs considered on a case-by-case basis as an exception.

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).;

06/23/2026 EV2/B - Investor Acknowledged Exception based on review of the original engineers inspection report and correspondence from the property management company confirming balcony repairs pose no danger or safety hazard in their present condition. The balconies are safe to use.
06/23/2026 Per (redacted) , If a structural and/or mechanical inspection was completed within (redacted) years of the lender's project review date, the lender must obtain and review the inspection report. The report cannot indicate that any critical repairs are needed, no evacuation orders are in effect, and no regulatory actions are required.

If the inspection report indicates there are unaddressed critical repairs, the project is ineligible until the required repairs have been completed and documented accordingly. The lender must review an engineer's report or substantially similar document to determine if the repairs completed have resolved the safety, soundness, structural integrity, or habitability concerns of the project.
--
Missing engineer's report or substantially similar document to verify high priority repairs have been completed and resolved the safety, soundness, structural integrity, or habitability concerns of the project.

Funded

3117882

XXXX

1190147

06/19/2026

Credit

LTV Exceeds Max Allowed

CRED 0010

Closed

The LTV of (redacted) exceeds the max allowed of (redacted). The final (redacted) confirms the borrower currently live rent free. Per the guidelines, first time home buyers without a satisfactory (redacted) month housing history is limited to a LTV of (redacted). The file included an approved exception (redacted), citing compensating factor of credit score (redacted) points greater than required.

07/20/2026

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).;

06/19/2026 EV2/B - Investor Acknowledged Exception, (redacted) LTV > (redacted) Max for FTHB.

Funded

3117882

XXXX

1190148

06/19/2026

Credit

Back-end Ratio exception (DTI)

CRED 0004

Acknowledged

The file included an approved exception (redacted), citing compensating factor of credit score (redacted) points greater than required.

Verified credit history - (redacted) Fico w/minimum requirement of (redacted).; Verified reserves - (redacted) mths verified reserves w/a minimum requirement of (redacted).;

06/19/2026 EV2/B - Investor Acknowledged Exception, DTI (redacted) > (redacted) Max using fully amortized payment (redacted)

Funded

3119523

XXXX

1191521

06/26/2026

Compliance

Incomplete Change of Circumstance

COMP 0020

Closed

07/06/2026

Verified reserves - (redacted) months of verified reserves when GL required (redacted) .; Low DTI - (redacted) DTI. Max (redacted) DTI.; Verified credit history - (redacted) fico w/a minimum requirement of (redacted) .;

07/06/2026 Cleared per lender response.

Funded