Exhibit 99.4
| CLIP 2026-NQM2 |
|
Opus Capital Markets Consultants, LLC
|
| 5599 San Felipe Street, Suite 420 | Houston, TX 77056 | www.opuscmc.com | 224.632.1300 |
| Narrative – CLIP 2026-NQM2 | Page 1 of 13 |
Executive Narrative
September 30, 2026
Performed by
Opus Capital Markets Consultants, LLC
For
Itasca Park LLC
The report summarizes the results of a due diligence review performed on a pool of five (5) loans, of which were purchased by Itasca Park LLC (“Customer”) from an originator (the “Originator”) who is a client of Opus Capital Markets Consultants, LLC (“Consultant”) under a reliance letter, and for which the Originator provided Consultant with a data tape, from which, in each case, 100% of the loan population was chosen and loaded into the LauraMac underwriting software. Consultant performed a detailed credit review of all loans.
As detailed herein, the pool contains five (5) CDFI Lender Exempt DSCR loans that were re-underwritten in accordance with the lender guidelines in terms of Exhibit A.
EXHIBIT A
Scope of Work
Credit Review
Credit Qualification
A re-underwriting review will be conducted in order to verify that the requisite underwriting guidelines as specified by Client are met. Confirmation of the loan terms will be performed through recalculation and review of documentation contained in the loan file provided to the Consultant. The Credit Qualification review will consist of the following:
| a) | Guidelines: Determine whether each mortgage loan meets the requisite guideline requirements as specified by the Client. In lieu of specific requirements, Consultant should consider Regulation Z including Appendix Q if applicable. If the loan pre-dates the requirements of Regulation Z and Appendix Q, Consultant will consider Fannie Mae’s Single-Family guidelines. |
| b) | Employment: Review the file documentation for minimum required level of employment, income and asset verifications pursuant to Client provided underwriting guidelines. |
| c) | Income: Recalculate borrower(s) monthly gross income and verify calculations of income as used by the original loan underwriter at origination to determine compliance with the Client provided underwriting guidelines. |
| d) | Assets: Confirm the presence of adequate asset documentation to comply with the Client provided underwriting guideline requirements for closing funds, reserves and borrower liquidity. |
| e) | Debt Ratio: Recalculate the debt to income ratio and verify the ratio accuracy used by the loan underwriter at origination to determine compliance with Client provided underwriting guidelines and regulatory requirements. |
| f) | Property Valuation: Analyze all appraisals and alternative value tools used to qualify the loan for integrity of comparable sales, completeness of data, eligibility of the appraiser and reasonableness of estimated value. Review the appraisal to determine the appraisal(s) meet the requirements of Client provided underwriting guidelines. |
| g) | Loan-to-Value Ratio: Recalculate and verify the loan-to-value ratio and combined loan-to-value ratio were accurate at origination and meet Client provided underwriting guideline and regulatory requirements. |
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| h) | Credit History: Review the credit report to verify that the borrower(s) demonstrate adequate credit depth to comply with the Client provided underwriting guideline requirements. |
| i) | Credit Scores: Verify that borrower(s) meet minimum credit score requirements of the Client provided underwriting guidelines. |
| j) | Compensating Factors: Verify exceptions to the Client provided underwriting guidelines are documented and reasonable. |
Document Review
Document Review
A review of each loan file will be performed to confirm the presence of material documentation as applicable to the specifics of the loan transaction. The Document Review will consist of the following:
a) Collateral Docs
| · | Title Commitment / Policy: Verify the presence of the title commitment or final title policy. Confirm vested parties and the description of the property, liens and tax assessments. |
| · | Mortgage Note / Security Instrument: Verify the presence of the mortgage note or security instrument. Confirm that the document has been executed by all borrowers and that all riders, addendums and endorsement are present and duly executed. |
| · | Mortgage / Deed of Trust: Verify the presence of a copy of the Mortgage or Deed of Trust. Confirm that the documents have been executed by all required parties and that all riders, addendums and exhibits are present and duly executed. If the loan closed within 12 months of the review, Consultant will confirm the presence of a letter from the title company specifying the date the Mortgage / Deed of Trust was sent for recording. If the closing did not occur within 12 months of the review and a copy of the recorded Mortgage / Deed of Trust is not contained in the loan file, the Client will submit a report from an independent document custodian verifying the presence of a recorded mortgage or a stamped / signed copy of the document stating the date the document was sent for recording. |
| · | Conveyance Deed: Verify as applicable that a proper conveyance deed is present in the loan file. Confirm the proper transfer of ownership interest of the subject parties is detailed on the deed. |
b) Closing Docs
| · | Final Hud-1 Settlement Statement: If required, verify the presence of a final HUD-1. Verify the completeness of required data and signatures or certification depending upon state compliance requirements. |
| · | Final Truth-in-Lending Disclosure: If required, verify the presence of a final Truth-in-Lending Disclosure. Verify the completeness of required data and that all required signatures are present. |
| · | Notice of Right to Cancel: If required based on the specifics of the loan transaction, confirm the presence and required execution of the Notice of Right to Cancel. |
| · | Loan Estimate: If required verify the presence of the current Loan Estimate (LE) at the time of origination |
| · | Closing Disclosure: If required verify the presence of the current Closing Disclosure (CD) at the time of origination. |
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c) Credit Docs
| · | Loan Application: Verify the presence and completeness of both the initial and final loan applications. |
| · | Underwriting Worksheet: Verify the presence of the relative underwriting worksheet i.e. form 1008, FHA MCAW and VA’s Loan Analysis. |
| · | Credit Report: Verify the presence of a credit report for each borrower. Confirm that the credit report was pulled within the timing requirements allowable per the Client provided underwriting guidelines. |
| · | Housing Payment History: In the absence of housing payment histories on the borrower(s) credit report(s), verify that the file contains a verification of rent or a verification of mortgage form. |
| · | Letters of Explanation: When Letters of Explanation are required by the Client provided underwriting guidelines, verify the presence of any such letters exist in the loan file. |
| · | Gift Letters: When Gift Letters are required by the Client provided underwriting guidelines, verify the presence of any such letters exist in the loan file. |
| · | Income Documentation: Verify the presence of income and employment related documentation required by the Client provided underwriting guidelines for all borrowing parties contributing income to the debt ratio calculation. |
| · | Asset Documentation: Verify the presence of asset documentation required by the Client provided underwriting guidelines in the loan file. |
| · | Property Valuation Tools: Verify that each loan file contains adequate appraisal and other third party valuation tools to satisfy the minimum required documentation under the relative Client provided underwriting guidelines. |
| · | Proof of Insurance: Verify the presence of insurance certificates for mortgage, hazard and flood insurance on an as needed basis depending upon the specifics of the loan. Confirm that adequate coverage is present to meet the requirements of the Client provided underwriting guidelines. |
DSCR Loan Review
A re-underwriting review will be conducted in order to verify that the requisite underwriting guidelines as specified by Client (the “Underwriting Guidelines”) are met. Confirmation of the loan terms will be performed through recalculation and review of documentation contained in the loan file provided to the Consultant. The Credit Qualification review guidelines will consist of the following:
Borrower Underwriting:
| · | Borrower Liquidity: Review and confirm borrower’s liquidity position adheres to Underwriting Guidelines. |
| · | Credit / Background Check: Review and confirm each guarantor and/or owner of the borrowing entity requirements meet Underwriting Guidelines, including OFAC. |
| · | Property management questionnaire: Review the questionnaire to confirm management experience meets Underwriting Guidelines. |
| · | Borrowing Entity: Confirm the entity is in good standing and duly formed (if applicable documents are in the file). Verify the individual signing on behalf of the organization has the authority to bind the entity (if applicable documents are in the file). |
| · | Loan-to-Value (LTV)/Loan-to-Cost (LTC) Limits: Confirm the LTV/LTC meets Underwriting Guidelines per Underwriting Guidelines. |
| · | Permitted Loan Terms: Confirm the loan terms are eligible per the Underwriting Guidelines. |
| · | Property Requirements and Market Requirements: Confirm the loan Property and Market Requirements are eligible per the Underwriting Guidelines. |
| · | DSCR—ensure components of Debt Service Coverage Ratio are identified correctly: Recalculation of DSCR |
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Title Insurance Requirements are met per Guidelines only as follows:
| · | Confirm Loss payee language must be present and required insurance policies and coverage amounts meet the Underwriting Guidelines |
| · | Condominium Eligibility: Confirm Condo Master Policy is present and meets the Underwriting Guidelines |
| · | Property Insurance: Confirm each mortgaged property has a policy in place and proper coverage amount in adherence to the Underwriting Guidelines. |
| · | Preliminary/Commitment Title: Review and confirm first lien holder position, validate no loan file discrepancies, delinquent taxes, and/or additional liens at time of consummation. |
Credit Document Check:
| · | Loan Application: Verify the presence and completeness of both the initial and final loan applications. |
| · | Credit Report: Verify the presence of a credit report for each borrower. Confirm that the credit report was pulled within the timing requirements allowable per the Client provided underwriting guidelines. |
| · | Housing Payment History: In the absence of housing payment histories on the borrower(s) credit report(s), verify that the file contains a verification of rent or a verification of mortgage form. |
| · | Letters of Explanation: When Letters of Explanation are required by the Client provided underwriting guidelines, verify the presence of any such letters exist in the loan file. |
| · | Gift Letters: When Gift Letters are required by the Client provided underwriting guidelines, verify the presence of any such letters exist in the loan file. |
| · | Income Documentation: Verify the presence of income and employment related documentation required by the Client provided underwriting guidelines for all borrowing parties contributing income to the debt ratio calculation. |
| · | Asset Documentation: Verify the presence of asset documentation required by the Client provided underwriting guidelines in the loan file. |
| · | Property Valuation Tools: Verify that each loan file contains adequate appraisal and other third party valuation tools to satisfy the minimum required documentation under the relative Client provided underwriting guidelines. |
| · | Proof of Insurance: Verify the presence of insurance certificates for mortgage, hazard and flood insurance on an as needed basis depending upon the specifics of the loan. Confirm that adequate coverage is present to meet the requirements of the Client provided underwriting guidelines. |
Compliance Testing:
| · | Prior to 06/01/2026 |
| o | No compliance testing for the DSCR review |
| · | On or after 06/01/2026 |
| o | State and Local High Cost Mortgage regulations, including: |
| § | Cook County High Cost Ordinance |
| § | City of Chicago High Cost Ordinance |
| o | Anti-predatory lending laws, including: |
| § | Minnesota §58 on or after 8/1/2008 |
| § | Virginia Lender and Broker Act after 6/1/2008 |
Flood Insurance Testing
National Flood Insurance Program (NFIP)
Each mortgage loan will be reviewed to ensure adherence to flood insurance coverage requirements as outlined under the NFIP, including identification of flood zones and subsequent policy documentation for evidence of adequate coverage amounts.
Homeowner’s Flood Affordability Act (HFIAA)
Each mortgage loan made by an FDIC-supervised institution or servicer acting on its behalf shall require the escrow of all premiums and fees for flood insurance for any designated loan secured by residential improved real estate or a mobile home, made, increased, extended or renewed on or after January 1, 2016.
Frequency – Payable with same frequency as payments designated for the loans
Exceptions
| · | Loan is an extension of credit primarily for business, commercial or agricultural purposes |
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| · | Loan is in a subordinate position to a senior lien secured by the same residential improved real estate or mobile for which the borrower has obtained flood insurance |
| · | Flood Insurance coverage for the residential real estate is provided by a policy that |
| a. | Meets requirements |
| b. | Provided by a condominium association, cooperative or other applicable group and |
| c. | The premium for which is paid by the condominium association, cooperative, homeowners association, or other group as a common expense. |
Misrepresentation and Third-Party Review
Validate that fraud reports and independent third-party property valuations reports are in the file. The review will consist of the following:
Misrepresentation Review and Valuation Review
Review on each loan to identify potential misrepresentations of income, employment, identity, occupancy, transaction and appraisal misrepresentation or other areas of potential misrepresentation. The Misrepresentation may include the following:
| · | Signatures: Validate signature consistency across documents. To the extent imaged or hard copy files are provided, Consultant will utilize reasonable efforts to validate the consistency of signatures across documents. |
| · | Alerts: Assess credit report alerts for accuracy and potential issues. |
| · | Social Security Numbers: Compare SSN(s) across all file documents. |
| · | Document Integrity: Review for apparent alterations to loan documents. To the extent imaged or hard copy files are provided, Consultant will utilize reasonable review of alterations to the loan documents. |
| · | Data Consistency: Review the documents contained in the loan file for consistency of data. |
| · | Third Party Fraud Tools: To the extent a third party fraud tool is contained in the loan file, the Consultant will ensure high level or critical warnings are reviewed and addressed. |
Independent Third-Party Values
Review each loan to determine whether a third party valuation product was required and if required, that the third party product value was compared to the original appraised value to identify a value variance and apply the appropriate rating agency grade after reviewing the required valuation products. i) Consultant will perform the following steps.
| · | Property is complete |
| · | Value is based on as-is condition or provides satisfactory completion of all material conditions including inspections, licenses, and certifications (including certificates of occupancy) to be made or issued with respect to all occupied portions of the mortgaged property and with respect to the use and occupancy of the same, have been made or obtained from the appropriate authorities. |
| · | Property is described in average or better condition |
| · | No apparent appraiser independence violation statements |
| · | Appraisal addresses any adverse comments |
| · | Appraisal is completed on appropriate GSE Forms |
| · | Appraisal contains required attachments. |
| · | Appraiser was appropriately licensed at the time the appraisal was signed |
If the valuation vendor does not supply the updated valuation product directly to the Consultant, the Client will authorize the valuation vendor to issue an attestation with sufficient information for the Consultant to determine the correct valuation product was utilized to verify the accuracy of the origination appraisal. Consultant did not receive an attestation for the third party valuations.
Value Review Disclaimer
| · | The individuals performing the above procedures are not persons providing valuations for the purpose of the Uniform Standards of Professional Appraisal Practice (“USPAP”) or necessarily licensed as appraiser under Federal or State law, and the services being performed do not constitute appraisal reviews for the purposes of USPAP or Federal or State law. |
| · | Opus CMC makes no representation or warranty as to the value of the mortgaged property, notwithstanding that Opus CMC may have reviewed the valuation information for reasonableness. |
| · | Opus CMC is not an Appraisal Management Company (“AMC”) and therefore does not opine on the actual value of the underlying property. |
| · | Opus CMC is not a creditor within the meaning of the Equal Credit Opportunity Act (“ECOA”) or other lending laws and regulations, and therefore Opus CMC will not have and communications with or responsibility to any individual concerning property valuations. |
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Properties in FEMA declared disaster zones.
If a FEMA declared disaster occurs after the inspection date on the appraisal, Consultant will review the file to determine if an exterior inspection to ensure:
| · | No apparent damage to the property |
| · | Property appears to be occupied |
Data Compare
Client will provide a data tape with the following data fields and Consultant
will compare the field to the applicable source document and report any variance
| · | Appraised Value |
| · | CLTV |
| · | DTI |
| · | FICO |
| · | Interest Only |
| · | Interest Rate |
| · | Loan Term |
| · | Loan Purpose |
| · | LTV |
| · | Occupancy |
| · | Original Balance |
| · | Property Address |
| · | Property City |
| · | Property State |
| · | Property Type |
| · | Sales Price |
| · | Second Mortgage Lien Amount |
| · | Self Employed |
| · | Units |
| · | Zip Code |
| · | Loan Type |
| · | QM Status |
Rating Agency Grading Criteria
Fitch Ratings Grading Criteria
Grading shall be provided for each exception, each exception category and holistically for each loan. The methodology for the application of the RMBS grading as defined by Fitch in their current industry publications as updated from time to time.
Moody’s Investor Services Grading Criteria
Grading shall be provided for each exception, each exception category and holistically for each loan. The methodology for the application of the RMBS grading as defined by Moody’s in their current industry publications as updated from time to time.
Kroll Bond Rating Agency LLC Grading Criteria
Grading shall be provided for each exception, each exception category and holistically for each loan. The methodology for the application of the RMBS grading as defined by Kroll in their current industry publications as updated from time to time.
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S&P Global Ratings Grading Criteria
Grading shall be provided for each exception, each exception category and holistically for each loan. The methodology for the application of the RMBS grading as defined by Standard & Poor’s in their current industry publications and updated from time to time.
DBRS Morningstar Grading Criteria
Grading shall be provided for each exception, each exception category and holistically for each loan. The methodology for the application of the RMBS grading as defined by DBRS in their current industry publications and updated from time to time.
Opus CMC Grading Criteria
Grading shall be provided for each exception, each exception category and
holistically for each loan. The following grading is not intended for securitization reviews and Opus CMC will not issue a Rating Agency
Narrative, Reliance or Form ABS Due Diligence 15E if Client elects to utilize the following grading criteria. The methodology for the
application of grading is defined by Opus CMC and updated from time to time shall be determined as follows:
Opus CMC Credit Grades
| · | Level 1 Credit Grade Definition: Loan was originated in accordance with the mortgage loan originator underwriting guidelines without exception. |
| · | Level 2 Credit Grade Definition: Loan was originated in substantial compliance with the originator's underwriting guidelines and there are sufficient compensating factors for any exceptions. |
| · | Level 3 Credit Grade Definition: Loan was not originated in substantial compliance
with the originator's underwriting guidelines and there are insufficient compensating factors for the exceptions or is missing material
documentation. |
Opus CMC Property Grades
| · | Level 1 Property Grade Definition: Property value appears to be within 10% of original appraised amount and there are no material deficiencies in the appraisal process. |
| · | Level 2 Property Grade Definition: Property value appears to be within 10% of original appraised amount, but minor issues in the appraisal process were identified. |
| · | Level 3 Property Grade Definition: Property value does not appear to fall
within 10% of the original appraised value and/or material deficiencies exist with respect to the appraisal process or the file is missing
material documentation. |
Opus CMC Compliance Grades
| · | Level 1 Compliance Grade Definition: Loan complies with all applicable laws and regulations reviewed under the applicable scope of work. |
| · | Level 2 Compliance Grade Definition: There are minor issues regarding legal and/or regulatory compliance but such issues do not represent risks to the enforceability of the borrower's obligation under the loan documents and will not result in assignee liability to the investor. |
| · | Level 3 Compliance Grade Definition: Loan is not in compliance with laws and regulations reviewed under the applicable scope of work or the loan is missing material documentation. |
REDACTED INFORMATION
| · | Borrower Name |
| · | Co-Borrower Name |
| · | SSNs |
| · | Property Address, City, County, MSA, Zip |
| · | Mailing Address |
| · | Account Number, including Originator and Servicer Loan Number |
| · | Origination Date |
| · | Names of Borrowers or any other Individuals |
| · | Company and Entity Names |
| · | Financial Institution Names |
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| · | Job Position Titles |
| · | Any Address |
| · | Any Location Information (other than state), including City, County, MSA and Zip |
| · | Account Numbers of any type |
| · | Insurance Claim Numbers |
| · | Insurance Policy Numbers |
| · | Foreclosure Action dates and Case Numbers |
| · | Bankruptcy Action dates and Case Numbers |
| · | Any reference that would allow the identification of the location of a property (e.g. neighborhood, body of water, schools, major highways) |
Pool Details
| Purpose | ||
| Type | Count | % of Pool |
| Cash out Refi | 3 | 60.00% |
| Purchase | 1 | 20.00% |
| Rate / Term Refi | 1 | 20.00% |
| Total | 5 | 100.00% |
| Property Type | ||
| Type | Count | % of Pool |
| Single Family Detached | 3 | 60.00% |
| Co-op | 0 | 0.00% |
| Condo, Low Rise | 1 | 20.00% |
| Condo, High Rise | 0 | 0.00% |
| PUD | 0 | 0.00% |
| 1 Family Attached | 0 | 0.00% |
| 2 Family | 1 | 20.00% |
| 3 Family | 0 | 0.00% |
| 4 Family | 0 | 0.00% |
| Total | 5 | 100.00% |
| Occupancy | ||
| Type | Count | % of Pool |
| Primary Residence | 0 | 0.00% |
| Second Home | 0 | 0.00% |
| Investment Property | 5 | 100.00% |
| Total | 5 | 100.00% |
| Product Type | ||
| Type | Count | % of Pool |
| Fixed | 5 | 100.00% |
| ARM | 0 | 0.00% |
| Total | 5 | 100.00% |
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Tape Discrepancies
| Data Element | Count | Accuracy |
| Loan Type | 3 | 40.00% |
| Total Number of Loans | 5 |
Multiple Loans to One Borrower: Consultant reviewed common identifiers for all loans in the population and confirmed there were no (0) obligors with multiple loans in the pool.
Property Inspection Waivers: No loans had a Property Inspection Waiver.
Loan Grading Definitions
Credit
| S&P | Moody’s | Fitch | Kroll | DBRS | Definition |
| A | A | A | A | A | Loan conforms to all applicable guidelines, no conditions noted |
| B | B | B | B | B | Loan does not meet every applicable credit guideline. However, most of the loan characteristics are within the guidelines and there are documented and significant compensating factors |
| C | C | C | C | C | The loan does not meet every applicable credit guideline, and most of the loan characteristics are outside of guidelines; or there are weak or no compensating factors |
| D | D | D | D | D | The loan file is missing critical documentation required to perform the review |
Compliance
| S&P | Moody’s | Kroll | DBRS | Definition |
| A | A | A | A | The loan was originated in compliance with applicable federal, state, and local predatory and high cost, TILA, and Regulation Z laws and regulations |
| B | B | B | B | The loan was originated in compliance with applicable federal, state, and local predatory and high cost, TILA, and Regulation Z laws and regulations; however, minor evidentiary issue(s) exist |
| C | C | C | C | The loan includes material violation(s) with applicable federal, state, and local predatory and high cost, TILA, and Regulation Z laws and regulations |
| D | D | D | D | The loan file is missing critical documentation required to perform the review |
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| Fitch | Definition |
| A | The loan was originated in compliance with applicable federal, state, and local predatory and high cost, TILA, and Regulation Z laws and regulations |
| B | The loan is in compliance with all applicable laws and regulations and a benefit to the borrower is present and documented |
| C | The loan includes material violation(s) with applicable federal, state, and local predatory and high cost, TILA, and Regulation Z laws and regulations |
| D | The loan file is missing critical documentation required to perform the review |
Property Valuation
| Moody’s | Fitch | Kroll | DBRS | Definition |
| A | A | A | A | Value is within a 10% variance of third party product. Appraisal meets lender guidelines. Subject property is 100% complete. Property condition is average or better. Standard GSE form was utilized. Appraiser is licensed. Appraisal is complete. |
| B | B | B | B | Meets all terms for an A, but property requires cosmetic or minor repairs that do not affect value or habitability |
| C | C | C | C | Any of the following items: Origination value and third party valuation product value has a variance of 10% or greater, cannot validate value, property is incomplete, property condition is less than average, GSE form was not utilized, and/or the appraisal and/or does not meet guidelines |
| D | D | D | D | The loan file was missing the appraisal and/or other valuations products needed to complete the review |
| S&P | Definition |
| A | First Level Review Value is within a 10% variance to the original appraisal. Appraisal meets lender guidelines. Subject property is 100% complete. Property condition is average or better. Standard GSE form was utilized. Appraiser is licensed. Appraisal is complete. |
| B | First Level Review Value is greater than a 10% variance to the original appraisal but the second level review value is within 10% variance of the original appraised value. In addition, property requires cosmetic or minor repairs that do not affect value or habitability |
| C | Any of the following items: Second Level Review Value is greater than a 10% variance to the original appraisal, cannot validate value, property is incomplete, property condition is less than average, GSE form was not utilized, and/or the appraisal and/or does not meet guidelines |
| D | The loan file was missing the appraisal and/or other valuations products needed to complete the review |
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Loan Review Findings
The following summarizes Consultant’s final loan securitization and event grades assigned to the final reviewed loan pool and reported in the Agency Grading Report dated September 30, 2026.
| Overall Grade Summary | ||
| Kroll NRSRO Grade | # of Loans | %
of Loans |
| A | 4 | 80.00% |
| B | 1 | 20.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| Compliance Grade Summary | ||
| Kroll NRSRO Grade | # of Loans | %
of Loans |
| A | 5 | 100.00% |
| B | 0 | 0.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| Credit Grade Summary | ||
| Kroll NRSRO Grade | # of Loans | %
of Loans |
| A | 4 | 80.00% |
| B | 1 | 20.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| Property Grade Summary | ||
| Kroll NRSRO Grade | # of Loans | %
of Loans |
| A | 5 | 100.00% |
| B | 0 | 0.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| Overall Grade Summary | ||
| S&P NRSRO Grade | # of Loans | %
of Loans |
| A | 3 | 60.00% |
| B | 2 | 40.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| Compliance Grade Summary | ||
| S&P NRSRO Grade | # of Loans | %
of Loans |
| A | 5 | 100.00% |
| B | 0 | 0.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| Credit Grade Summary | ||
| S&P NRSRO Grade | # of Loans | %
of Loans |
| A | 4 | 80.00% |
| B | 1 | 20.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| Property Grade Summary | ||
| S&P NRSRO Grade | # of Loans | %
of Loans |
| A | 4 | 80.00% |
| B | 1 | 20.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
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EXHIBIT B
List of Loans (5 Loans)
| Count | Loan ID |
| 1 | 12605012660 |
| 2 | 12603005225 |
| 3 | 12606013711 |
| 4 | 12607017453 |
| 5 | 12606014308 |
If you have any questions, please contact Uriah Clavier at Uriah.Clavier@opuscmc.com
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