j.p. morgan acceptance corporation ii ABS-15G
Exhibit 99.38
| ALT Loan ID | Seller Name | Seller Loan ID | Exception ID | Exception ID Date | Exception Category | Exception Subcategory | Exception Description | Exception Comments | Seller Response | Reviewer Response | Compensating Factors | Exception Status | Cleared Date | Exception Approved Pre Origination | Initial Exception Grade | Final Exception Grade | Initial DBRS Exception Grade | Final DBRS Exception Grade | Initial Moodys Exception Grade | Final Moodys Exception Grade | Initial Fitch Exception Grade | Final Fitch Exception Grade | Initial Kroll Exception Grade | Final Kroll Exception Grade | Initial S&P Exception Grade | Final S&P Exception Grade |
| 305039446 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Transaction Ineligible | Resolved-Lender's guidelines allow refinances of vacant properties with scope of work and verification of rent listing. Subject is new construction and all required documentation is contained in loan file. Finding resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Property is a clear recent renovation with SOW provided and purchased within last 12 months. See guideline section 11.2 "Properties recently renovated and owned greater than six months are permitted to be vacant, Scope of work and a verification of rent listing is required." Please clear or cancel. Thank you. - Due Diligence Vendor-XX/XX/XXXX Open-Ineligible transaction due to lender's guidelines requires no more than one vacant unit at origination when the transaction is a refi. Despite this requirement, the subject property is a 2-unit property and both units are vacant. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Lender's guidelines allow refinances of vacant properties with scope of work and verification of rent listing. Subject is new construction and all required documentation is contained in loan file. Finding resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305039445 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305039444 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304874900 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304909591 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304908674 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304911783 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304902301 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Missing Doc | ECOA: Most Recent Primary Appraisal Not Provided to Applicant | Acknowledged-Grading is a B, Client acknowledged nothing further is required - Due Diligence Vendor-XX/XX/XXXX Open-ECOA Non-Compliant: Most Recent Primary Appraisal Not Provided to Applicant. ECOA: Most Recent Primary Appraisal Date of XX/XX/XXXX is after the Primary Appraisal Delivery Date of XX/XX/XXXX. The XXXXXXXX receipt shows the lender received the revised appraisal on XX/XX/XXXX. Provide verification that the borrower received the revised appraisal. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XXXXXXXX receipt for XX/XX/XXXX appraisal sent to borrower - Due Diligence Vendor-XX/XX/XXXX Open-ECOA Non-Compliant: Most Recent Primary Appraisal Not Provided to Applicant. ECOA: Most Recent Primary Appraisal Date of XX/XX/XXXX is after the Primary Appraisal Delivery Date of XX/XX/XXXX. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Grading is a B, Client acknowledged nothing further is required - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 304902301 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Borrower 1 3rd Party VOE Prior to Close Missing | Resolved-Received XX/XX/XXXX VVOE. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-VOE was done on XX/XX/XXXX and final VOE on XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX Open-Borrower 1 3rd Party VOE Prior to Close Missing Borrower1 VVOE dated XX/XX/XXXX is not within 10 business days of the note date. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received XX/XX/XXXX VVOE. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 304875287 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Evidence of XXX Dues for REO1 | Resolved-Evidence of XXX Document provided, Finding Resolved - Due Diligence Vendor-XX/XX/XXXX Ready for Review-No XXX Dues - Due Diligence Vendor-XX/XX/XXXX Open-Missing Evidence of XXX Dues for REO1 Missing documentation to validate the dollar amount figure provided in the "Monthly insurance, taxes, association dues, etc (if not included in monthly payment)" section for REO 3d, 3e, 3f, 3g disclosed on final application of B1. Neither the Schedule E nor the rental income worksheet confirm the source of these fees; however, the lender has used these fees in the reserve calculation per AUS provided in file. Provide a letter of explanation and supporting documentation for these additional fees associated with the REO. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Evidence of XXX Document provided, Finding Resolved - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 304875287 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | E-Consent documentation is missing for borrower(s) | Resolved-E-Consent documentation for borrower(s) provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Econsents - Due Diligence Vendor-XX/XX/XXXX Open-E-Consent documentation is missing for borrower(s). E-Consent documentation is missing for borrowers. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-E-Consent documentation for borrower(s) provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 304889284 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Insurance | Hazard Insurance Effective Date is after the Disbursement Date | Acknowledged-HAZ Document provided. This finding is non-material and will be rated a B for all agencies - Due Diligence Vendor-XX/XX/XXXX Resolved-Hazard Insurance Effective Date of XX/XX/XXXX is prior to or equal to the Disbursement Date of XX/XX/XXXX Or Hazard Insurance Effective Date Is Not Provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-See the attached HAZ - Due Diligence Vendor-XX/XX/XXXX Open-Hazard Insurance Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-HAZ Document provided. This finding is non-material and will be rated a B for all agencies - Due Diligence Vendor-XX/XX/XXXX Resolved-Hazard Insurance Effective Date of XX/XX/XXXX is prior to or equal to the Disbursement Date of XX/XX/XXXX Or Hazard Insurance Effective Date Is Not Provided - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 304889284 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Required Documentation is Missing | Resolved-Received PITI info. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Attached are the following documents needed for loan XXXXXXXX- Note- for XXXXXXXX Mtg- XXXXXXXX First payment letter- XXXXXXXX cd- XXXXXXXX New findings for loan XXXXXXXX since PITIA was higher than what was on final 1003 New final 1008 for loan XXXXXXXX Since PITIA was higher than what was on final 1003 - Due Diligence Vendor-XX/XX/XXXX Open-Missing documentation to confirm the PITIA payment for the property disclosed on line 3C of the final 1003. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received PITI info. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 304902358 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | ECOA: Appraisal Not Provided to Applicant | Acknowledged-ECOA Non-Compliant: Appraisal present; no evidence appraisal was provided to applicant. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-ECOA Non-Compliant: Appraisal present; no evidence appraisal was provided to applicant. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 304902358 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | Missing Valuation Review Product - 1 | Resolved-. - Due Diligence Vendor-XX/XX/XXXX Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-CDA - Due Diligence Vendor-XX/XX/XXXX Open-A valid secondary valuation supporting the origination appraisal value is not present. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-. - Due Diligence Vendor-XX/XX/XXXX Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 304902300 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305027081 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Closing | Invalid AUS | Acknowledged-Received updated LP (dated post-closing) and 1008. Audited DTI of 42.25% is within tolerance of LP approved DTI. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material, and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-1008 and UW email - Due Diligence Vendor-XX/XX/XXXX Counter-Received LP dated post-closing. The total debt now matches XXXXXXXX results; however, a higher income was used on the new LP. Provide an LP with the correct income and debts. Also, provide a lender exception to allow post-close AUS results. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Revised AUS - Due Diligence Vendor-XX/XX/XXXX Open-The Lender's Guidelines/Agency Guidelines require loan data to be resubmitted to LP if the data changes from the time the AUS was last run. The most recent AUS in file reflects issues with DTI. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Received updated LP (dated post-closing) and 1008. Audited DTI of 42.25% is within tolerance of LP approved DTI. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material, and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX |
Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305027081 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited DTI Exceeds AUS DTI | Acknowledged-Received updated LP (dated post-closing) and 1008. Audited DTI of 42.25% is within tolerance of LP approved DTI. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material, and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Revised 1008 and UW email - Due Diligence Vendor-XX/XX/XXXX Counter-Received LP dated post-closing. The total debt now matches XXXXXXXX results; however, a higher income was used on the new LP. Provide an LP with the correct income and debts. Also, provide a lender exception to allow post-close AUS results. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Revised AUS - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 48.75% exceeds AUS DTI of 47% The Lender qualified the borrower with a primary housing payment of $X,XXX.XX ($X,XXX.XX mortgage payment + $X,XXX.XX XXX dues). However, documentation in file indicates that the new mortgage payment is $X,XXX.XX + $X,XXX.XX XXX for a total primary housing payment of $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Received updated LP (dated post-closing) and 1008. Audited DTI of 42.25% is within tolerance of LP approved DTI. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material, and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX |
Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 304909641 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305024028 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305012775 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | ECOA: Appraisal Not Provided to Applicant | Acknowledged-ECOA Non-Compliant: Appraisal present; no evidence appraisal was provided to applicant. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-ECOA Non-Compliant: Appraisal present; no evidence appraisal was provided to applicant. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 305012775 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305027276 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Borrower 1 Lease Agreements Missing | Resolved-Agree. The finding was resolved XX/XX/XXXX. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-UW LOX SchE was used - Due Diligence Vendor-XX/XX/XXXX Resolved-Borrower 1 Lease Agreements Provided - Due Diligence Vendor-XX/XX/XXXX Resolved-Sch E used. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Per our UW -The lease agreement was not required. The Income Desk completed the rental income calculation based on the filed tax returns – XXXX 1040 Schedule E. - Due Diligence Vendor-XX/XX/XXXX Open-Borrower 1 Lease Agreements Missing Lender to provide copy of lease agreement for REO 3b on the final loan application. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Agree. The finding was resolved XX/XX/XXXX. - Due Diligence Vendor-XX/XX/XXXX Resolved-Borrower 1 Lease Agreements Provided - Due Diligence Vendor-XX/XX/XXXX Resolved-Sch E used. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | A | A | A | A | A | A | A | A | A | A | A | A | ||
| 305027276 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | DTI exceeds client overlay guidelines | Resolved-Lender provides updated 1008,1003 and AUS to show SCH C income not being used, and rental income from another rental property at-$X,XXX.XX, which changes the DTI @43.73. Finding resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-updated UW docs - Due Diligence Vendor-XX/XX/XXXX Counter-Provide the following corrected docs: 1008, 1003, DU, lender income calc for the subject and the other REO. All docs to show the figures and final DTI the lender is actually using. If excluding Schedule C loss, provide verification for the exclusion or a lender exception. XXXXXXXX figures are listed in the other DTI finding. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-UW LOX - Due Diligence Vendor-XX/XX/XXXX Open-DTI updated after receiving REO 3b PITI docs and using lender rental loss of $X,XXX.XX (sch E). 51.14% DTI > 505 allowed by client overlays. 1) Borrower’s Schedule C loss not considered. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 64.69% exceeds Guideline DTI of 50% allowed by client overlays. Client lender overlay guidelines reflect a maximum DTI of 50%. The audited DTI is 64.69%. DTI variance due to the following: 1) Borrower’s Schedule C loss not considered. 2) Lender calculated net rental loss of $X,XXX.XX for REO 3b. Audit calculated net rental loss of $X,XXX.XX. This is based on monthly rental income of $X,XXX.XX; however, a copy of the lease was not provided in the loan file. Audit calculated rental loss from Schedule E is $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Lender provides updated 1008,1003 and AUS to show SCH C income not being used, and rental income from another rental property at-$X,XXX.XX, which changes the DTI @43.73. Finding resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305027276 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited DTI Exceeds AUS DTI | Resolved-Lender provides updated 1008,1003 and AUS to show SCH C income not being used, and rental income from another rental property at-$X,XXX.XX, which changes the DTI @43.73. Finding resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-updated UW Docs - Due Diligence Vendor-XX/XX/XXXX Counter-The income used in the file is not consistent with explanations. Provide the following corrected docs: 1008, 1003, DU, lender income calc for the subject and the other REO. All docs to show the figures and final DTI the lender is actually using. If excluding Schedule C loss, provide verification for the exclusion or a lender exception. XXXXXXXX figures compared to 1008, DU and LOX are as follows: B2 Income – $X,XXX.XX XXXXXXXX and Lender B1 Income – loss of $X,XXX.XX Total income - $X,XXX.XX Primary – $X,XXX.XX XXXXXXXX and Lender Subject XXXXXXXX - -$X,XXX.XX XXXXXXXX and -$X,XXX.XX Lender XXXXXXXX XXXXXXXX – -$X,XXX.XX – XXXXXXXX and Lender Other debt – $X,XXX.XX – XXXXXXXX and Lender Per the 1008, Lender “other income is $X,XXX.XX+$X,XXX.XX=$X,XXX.XX. XXXXXXXX – Audit is unable to determine how the rental income was calculated as 3 different methods have been stated: Lease, Sch E, and washing the payment. Lender Sch E calc received XX/XX/XXXX shows net rental income of +$X,XXX.XX which is using $X,XXX.XX lease income not Sch E gross income. A lease has not been provided and lender previously stated they are using Sch E to clear the Missing lease finding. Gross rental income from Sch E is $X,XXX.XX – $X,XXX.XX pmt = $X,XXX.XX net rental income. XXXXXXXX used lender more conservative amount from the 1008 and DU -$X,XXX.XX. Lender has also stated that the rental income should be a wash - $X,XXX.XX. XXXXXXXX – -$X,XXX.XX XXXXXXXX vs Lender 1008 amount of $X,XXX.XX and DU -$X,XXX.XX. XXXXXXXX used 75% of 1007 amount. $X,XXX.XX x75%=$X,XXX.XX-$X,XXX.XX PITI = -$X,XXX.XX Regarding the Schedule C loss: You cannot simply ignore a loss because it makes your debt-to-income ratio too high. However, if you can prove to the underwriter that the loss was a one-time expense (like replacing a major piece of equipment or a one-off disaster expense), it may be excluded. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-uw lox - Due Diligence Vendor-XX/XX/XXXX Open-DTI updated after receiving REO 3b PITI docs and using lender rental loss of $X,XXX.XX (sch E). 51.14% DTI > AUS DTI of 45%.44.73%. 1) Borrower’s Schedule C loss not considered. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 64.69% exceeds AUS DTI of 45% DTI variance due to the following: 1) Borrower’s Schedule C loss not considered. 2) Lender calculated net rental loss of $X,XXX.XX for REO 3b. Audit calculated net rental loss of $X,XXX.XX. This is based on monthly rental income of $X,XXX.XX; however, a copy of the lease was not provided in the loan file. Audit calculated rental loss from Schedule E is $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Lender provides updated 1008,1003 and AUS to show SCH C income not being used, and rental income from another rental property at-$X,XXX.XX, which changes the DTI @43.73. Finding resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305027276 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Borrower 2 3rd Party VOE Prior to Close Missing | Resolved-Borrower 2 3rd Party VOE Prior to Close Was Provided or Not Applicable (Number of Borrowers equals 2) - Due Diligence Vendor-XX/XX/XXXX Resolved-Received B2 VVOE. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-voe - Due Diligence Vendor-XX/XX/XXXX Counter-Received 3rd party VOE for the borrower. Missing co-borrower verification dated within 10 days prior to closing (doc in file is dated XX/XX/XXXX). Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-3rd pty voe - Due Diligence Vendor-XX/XX/XXXX Open-Borrower 2 3rd Party VOE Prior to Close Missing - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Borrower 2 3rd Party VOE Prior to Close Was Provided or Not Applicable (Number of Borrowers equals 2) - Due Diligence Vendor-XX/XX/XXXX Resolved-Received B2 VVOE. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305027276 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Borrower 2 Executed 4506-T Missing | Resolved-Borrower 2 Executed 4506-T Provided or Not Applicable (Number of Borrowers equals 2) - Due Diligence Vendor-XX/XX/XXXX Ready for Review-8821 - Due Diligence Vendor-XX/XX/XXXX Counter-Received form 8821 for the Borrower. Missing 4506/8821 for the Co-borrower. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-we now the 8821 forms - Due Diligence Vendor-XX/XX/XXXX Open-Borrower 2 Executed 4506-T Missing - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Borrower 2 Executed 4506-T Provided or Not Applicable (Number of Borrowers equals 2) - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305027276 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Evidence of XXX Dues for REO1 | Resolved-No XXX dues per CD received. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-See REO docs attached There are no XXX dues applicable for XXXXXXXX. There is a printout confirming no XXX dues. The expenses were calculated by the Income Desk for the rental property. - Due Diligence Vendor-XX/XX/XXXX Open-Missing Evidence of XXX Dues for REO1 Missing evidence of XXX dues for REO 3b on the final loan application. The final 1003 lists other expenses of $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-No XXX dues per CD received. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305027276 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Asset Documentation | Resolved-Received LOX. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-assets LOX - Due Diligence Vendor-XX/XX/XXXX Open-Missing Asset Documentation. The statement for Asset #1 on the final loan application indicates it is a "Collateral Account". Provide documentation that borrower is able to draw from this account and up to how much. This asset is needed to satisfy the reserve requirement. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received LOX. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305026486 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305054910 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305057749 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Resolved-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-VOR - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. The Lender's overlay guidelines require a minimum 12 months of housing history which may be verified using a copy of the fully executed lease agreement and proof of electronic transfer such as 12 months canceled checks, bank statements or pay histories that clearly document the payment history for the most recent 12 months. The loan file contained only a copy of the lease agreement and one month verified payment (XX/XX/XXXX). - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305136947 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305122584 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305106557 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305106216 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Resolved-Prior note provided evidence a balloon payment (on demand). - Due Diligence Vendor-XX/XX/XXXX Ready for Review-We have the note in file showing the Mortgage was on the property was a balloon payment there is no payment history. - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is missing for subject property. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Prior note provided evidence a balloon payment (on demand). - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305108168 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305119452 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Resolved-Note from acquisition provided evidencing a balloon payment with clause that notes payments on demand. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Subject property Note - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. A verification of mortgage for the subject property is missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Note from acquisition provided evidencing a balloon payment with clause that notes payments on demand. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305145186 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305128536 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305013630 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Transaction Ineligible | Resolved-Received email from client stating: As this loan was underwritten to an Approve/Ineligible AUS and XXXXXXXX does not have PPP restrictions on investment property transactions, the below exception can be cancelled. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-please see attached. request to have this condition waived. - Due Diligence Vendor-XX/XX/XXXX Escalated-. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Loans with prepayment penalties are allowed per XXXXXXXX guides. - Due Diligence Vendor-XX/XX/XXXX Open-Loan subject to prepayment penalties are not eligible for delivery to XXXXXXXX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received email from client stating: As this loan was underwritten to an Approve/Ineligible AUS and XXXXXXXX does not have PPP restrictions on investment property transactions, the below exception can be cancelled. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 304898297 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | Missing Valuation Review Product - 1 | Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-CDA - Due Diligence Vendor-XX/XX/XXXX Open-A valid secondary valuation supporting the origination appraisal value is not present. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 304898297 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Insurance | Hazard Insurance Effective Date is after the Disbursement Date | Acknowledged-Hazard Insurance Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX For Informational Purposes Only. Effective date is the same as the Disbursement date. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-Hazard Insurance Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX For Informational Purposes Only. Effective date is the same as the Disbursement date. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 305013545 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305040601 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305102841 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | ECOA: Appraisal Disclosure Not Provided Timely | Resolved-Finding was resolved XX/XX/XXXX with the receipt of the Initial LE. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-APPRAISAL DELVERY INFO - Due Diligence Vendor-XX/XX/XXXX Acknowledged-This finding is non-material and will be rated a B for all agencies. ECOA: Appraisal Disclosure Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Finding was resolved XX/XX/XXXX with the receipt of the Initial LE. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-This finding is non-material and will be rated a B for all agencies. ECOA: Appraisal Disclosure Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | B | A | B | A | B | A | B | A | B | A | B | A | ||
| 305102841 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Tolerance:Disclosure | Federal - Homeownership Counseling Disclosure Delivery | Resolved-Received disclosure. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-The Homeownership Counseling Organization Disclosure Sent Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). Under 12 CFR 1024.20, not later than three business days after receipt of an application, or information sufficient to complete an application, the lender must provide the applicant with a clear and conspicuous written list of homeownership counseling organizations that provide relevant counseling services in the loan applicant's location. (12 CFR 1024.20) This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received disclosure. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-The Homeownership Counseling Organization Disclosure Sent Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). Under 12 CFR 1024.20, not later than three business days after receipt of an application, or information sufficient to complete an application, the lender must provide the applicant with a clear and conspicuous written list of homeownership counseling organizations that provide relevant counseling services in the loan applicant's location. (12 CFR 1024.20) This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | B | A | B | A | B | A | B | A | B | A | B | A | ||
| 305102841 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Tolerance:Disclosure | Federal - Loan Estimate Mailed/Delivered Within Three Business Days of Application | Resolved-.The Initial Disclosure Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). .The Initial Disclosure has been provided - Due Diligence Vendor-XX/XX/XXXX Resolved-Resolved - Due Diligence Vendor-XX/XX/XXXX Ready for Review-ICD XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX Open-The Initial Disclosure Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). Under Regulation Z, a Loan Estimate must be delivered or placed in the mail not later than the third business day after receiving a consumer's application.(12 CFR 1026.19(e)(1)(iii)) The initial Loan Estimate is dated XX/XX/XXXX and the application date is XX/XX/XXXX. No Cure. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-.The Initial Disclosure Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). .The Initial Disclosure has been provided - Due Diligence Vendor-XX/XX/XXXX Resolved-Resolved - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305102841 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305102841 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | RESPA: Toolkit Not Provided Timely | Acknowledged-This finding is non-material and will be rated a B for all agencies. RESPA: Toolkit Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-This finding is non-material and will be rated a B for all agencies. RESPA: Toolkit Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 305139080 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305187942 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305149416 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305148817 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305169779 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | QM-ATR | ATR Risk - Either Current Income or Current Assets must be utilized to meet ATR requirements | Resolved-Received the Settlement statement from the sale of the departing residence. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-ATR Risk - Current Income or Current Assets were considered - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Final Settlement Statement for departing residence - Due Diligence Vendor-XX/XX/XXXX Open-ATR Risk - Either Current Income or Current Assets must be utilized to meet ATR requirements The file is missing AUS #46 proceeds from the sale of B1 and B2 departing residence. Additional conditions may apply. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received the Settlement statement from the sale of the departing residence. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-ATR Risk - Current Income or Current Assets were considered - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305169779 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Asset Qualification Does Not Meet Guideline Requirements | Resolved-Received the Settlement statement from the sale of the departing residence. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-Asset Qualification Meets Guideline Requirements - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Final Settlement Statement for departing residence - Due Diligence Vendor-XX/XX/XXXX Open-Asset Qualification Does Not Meet Guideline Requirements The file is missing AUS #46 proceeds from the sale of B1 and B2 departing residence. Additional conditions may apply. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received the Settlement statement from the sale of the departing residence. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-Asset Qualification Meets Guideline Requirements - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305169779 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Asset 8 Does Not Meet Guideline Requirements | Resolved-Received the Settlement statement from the sale of the departing residence. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-Asset 8 Meets Guideline Requirements Or Not Applicable - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Final Settlement Statement for departing residence - Due Diligence Vendor-XX/XX/XXXX Open-Asset 8 Does Not Meet Guideline Requirements The file is missing AUS #46 proceeds from the sale of B1 and B2 departing residence. Additional conditions may apply. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received the Settlement statement from the sale of the departing residence. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-Asset 8 Meets Guideline Requirements Or Not Applicable - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305169795 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P RA Only - Value grade equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P RA Only - Value grade equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305028958 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 304963609 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304963608 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 304907306 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Transaction Ineligible | Waived-Both borrowers are non-permanent residents. Per guidelines, non-permanent residents are allowed only on one-unit primary residences. The subject transaction is for a multi-family investment property. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. Finding is non-material, and loan will be graded a B - Due Diligence Vendor-XX/XX/XXXX Waived-Both borrowers are non-permanent residents. Per guidelines, non-permanent residents are allowed only on one-unit primary residences. The subject transaction is for a multi-family investment property. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Both borrowers are non-permanent residents. Per guidelines, non-permanent residents are allowed only on one-unit primary residences. The subject transaction is for a multi-family investment property. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. Finding is non-material, and loan will be graded a B - Due Diligence Vendor-XX/XX/XXXX Waived-Both borrowers are non-permanent residents. Per guidelines, non-permanent residents are allowed only on one-unit primary residences. The subject transaction is for a multi-family investment property. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
$X,XXX.XX in monthly residual income 12 months reserves Credit file since XX/XX/XXXX, 11 trades all paid as agreed. |
Waived | XX/XX/XXXX | Originator Pre-Close | B | B | B | B | B | B | B | B | B | B | B | B | |
| 305030963 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305100603 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Borrower 1 Credit Report is Missing | Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Credit Report B1 - Due Diligence Vendor-XX/XX/XXXX Open-Borrower 1 Credit Report is Missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305157760 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305138970 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305130792 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Credit score does not meet client overlay guidelines | Acknowledged-Client acknowledges that credit score exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX Counter-XXXXXXXX Purchase criteria overlay guidelines allow a minimum 680 credit score for a cash-out refinance. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-At time of initial application, the FICO met guidelines - see attached - Due Diligence Vendor-XX/XX/XXXX Open-Audited FICO of 679 is less than Guideline FICO of 680 allowed by client overlays. Credit score of 679 is less than 680, the minimum credit score required per client overlay guidelines. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges that credit score exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305130792 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Delinquent Credit History Does Not Meet Guideline Requirements | Waived-Delinquent Credit History Does Not Meet Guideline Requirements Lender Guidelines require 3 years from dismissal or discharge date for bankruptcy. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX | Waived-Delinquent Credit History Does Not Meet Guideline Requirements Lender Guidelines require 3 years from dismissal or discharge date for bankruptcy. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
LTV < 70% Housing payment 0x30x24 Worked same industry > 5 years |
Waived | XX/XX/XXXX | Originator Pre-Close | B | B | B | B | B | B | B | B | B | B | B | B | |
| 305126285 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Resolved-Updated guidelines provided dated XX/XX/XXXX reflect a maximum LTV of 75% for FN. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Open-Audited LTV of 75% exceeds Guideline LTV of 70% - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Updated guidelines provided dated XX/XX/XXXX reflect a maximum LTV of 75% for FN. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305126285 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Ineligible Borrower (Borrower 1) | Waived-Received approval from client post close to allow foreign nationals. - Due Diligence Vendor-XX/XX/XXXX Open-According to the client memo dated XX/XX/XXXX Foreign Nationals are not eligible. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Received approval from client post close to allow foreign nationals. - Due Diligence Vendor-XX/XX/XXXX |
DSCR Score of 1.24 where the guideline minimum is 1.0 and 0 x 30 rental payment history. | Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 305126284 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305144010 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Cash out amount greater than client overlay guideline maximum | Acknowledged-Client acknowledges that cash to the borrower exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX Open-Cash out amount of $X,XXX.XX exceeds the maximum cash out of $X,XXX.XX allowed by the client overlay guideline. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges that cash to the borrower exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305148832 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305130711 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305130820 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Transaction Ineligible | Cured-Received LOX, copy of refund check, proof of delivery and a corrected PCCD. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-PCCD - Due Diligence Vendor-XX/XX/XXXX Counter-The cure should show in Section J instead of as a reduced fee. Provide a PCCD showing the $X,XXX.XX cure in section J. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-We lowered the lender fee and reimbursed them for the difference. Compliance report attached reflecting passing high cost. - Due Diligence Vendor-XX/XX/XXXX Counter-Received LOX, copy of refund check, proof of delivery and a PCCD. Provide a PCCD showing the $X,XXX.XX cure in section J. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-CURE - Due Diligence Vendor-XX/XX/XXXX Counter-The XXXXXXXX threshold is 5% of the Total Loan Amount $X,XXX.XX. The XXXXXXXX in file also reflects a fail. Please provide a cure of $X,XXX.XX, PCCD, proof of delivery, and evidence of refund. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Non qm loans allow up to 5% points and fees - please review - Due Diligence Vendor-XX/XX/XXXX Open-The loan has been identified as a High-Cost loan. Per Guidelines, High-Cost loans are ineligible. - Due Diligence Vendor-XX/XX/XXXX |
Cured-Received LOX, copy of refund check, proof of delivery and a corrected PCCD. - Due Diligence Vendor-XX/XX/XXXX |
Cured | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305130820 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | XXXXXXXX | HighCost: Fees | Cured-Received LOX, copy of refund check, proof of delivery and a corrected PCCD. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-PCCD - Due Diligence Vendor-XX/XX/XXXX Counter-The cure should show in Section J instead of as a reduced fee. Provide a PCCD showing the $X,XXX.XX cure in section J. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-We lowered the lender fee and reimbursed them for the difference. Compliance report attached reflecting passing high cost. - Due Diligence Vendor-XX/XX/XXXX Counter-Received LOX, copy of refund check, proof of delivery and a PCCD. Provide a PCCD showing the $X,XXX.XX cure in section J. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-CURE - Due Diligence Vendor-XX/XX/XXXX Counter-The XXXXXXXX threshold is 5% of the Total Loan Amount $X,XXX.XX. The XXXXXXXX in file also reflects a fail. Please provide a cure of $X,XXX.XX, PCCD, proof of delivery, and evidence of refund. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Non qm loans allow up to 5% points and fees - please review - Due Diligence Vendor-XX/XX/XXXX Open-The loan fees $X,XXX.XX exceed the (XXXXXXXX2014) High Cost fee limit, which is $X,XXX.XX, the difference is $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX |
Cured-Received LOX, copy of refund check, proof of delivery and a corrected PCCD. - Due Diligence Vendor-XX/XX/XXXX |
Cured | XX/XX/XXXX | N/A | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305130820 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Total Qualified Assets for Reserves Post-Close is less than Total Required Reserve Amount | Acknowledged-Client acknowledges the use of the business assets on the non-business purpose loan and waives the purchase criteria based on meeting the lenders guideline. - Due Diligence Vendor-XX/XX/XXXX Open-Total Qualified Assets for Reserves Post-Close of $X,XXX.XX is less than Total Required Reserve Amount of $X,XXX.XX Lender qualified the borrower using business assets; however, client overlay guidelines do not allow business funds to be used for reserves. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges the use of the business assets on the non-business purpose loan and waives the purchase criteria based on meeting the lenders guideline. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305130820 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Insufficient Reserves Number of Months (Client Overlay) | Acknowledged-Client acknowledges the use of the business assets on the non-business purpose loan and waives the purchase criteria based on meeting the lenders guideline. - Due Diligence Vendor-XX/XX/XXXX Open-Audited Reserves of month(s) are less than Guideline Required Reserves of 6 month(s) allowed by client overlays. Lender qualified the borrower using business assets; however, client overlay guidelines do not allow business funds to be used for reserves. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges the use of the business assets on the non-business purpose loan and waives the purchase criteria based on meeting the lenders guideline. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305130820 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | QM-ATR | ATR Risk - Either Current Income or Current Assets must be utilized to meet ATR requirements | Acknowledged-Client acknowledges the use of the business assets on the non-business purpose loan and waives the purchase criteria based on meeting the lenders guideline. - Due Diligence Vendor-XX/XX/XXXX Open-ATR Risk - Either Current Income or Current Assets must be utilized to meet ATR requirements Lender qualified the borrower using business assets; however, client overlay guidelines do not allow business funds to be used for reserves. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges the use of the business assets on the non-business purpose loan and waives the purchase criteria based on meeting the lenders guideline. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305133072 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | LTV exceeds client overlay guidelines | Resolved-Updated purchase criteria provided evidencing max LTV of 89.99%. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Guidelines attached - please review - max LTV is 89.99% - Due Diligence Vendor-XX/XX/XXXX Open-Audited LTV of 88.24% exceeds guideline LTV of 85% allowed by client overlays. Client lender overlay guidelines requires a maximum LTV of 85.00%. However, the current LTV of the subject is 88.24%. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Updated purchase criteria provided evidencing max LTV of 89.99%. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305142872 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | TRID Tolerance | Insufficient Change of Circumstance (50001252) | Cured-Received PCCD reflecting a principal curtailment. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XXXXXXXX CURE PROVIDED - Due Diligence Vendor-XX/XX/XXXX Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Credit Report Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). - Due Diligence Vendor-XX/XX/XXXX Counter-If a valid COC cannot be provided for the credit report fee increase then Provide Letter of Explanation, Proof of Refund, Corrected PCCD, and Proof of Delivery to Borrower. Tolerance cure of $X,XXX.XX to be provided within 60 days of discovery. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please confirm if credit report fee is the only issue and if so what the cure amount is. - Due Diligence Vendor-XX/XX/XXXX |
Cured-Received PCCD reflecting a principal curtailment. - Due Diligence Vendor-XX/XX/XXXX |
Cured | XX/XX/XXXX | N/A | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305142872 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | TRID Tolerance | Charges That Cannot Increase Test (50001251) | Cured-Received PCCD reflecting a principal curtailment. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XXXXXXXX docs provided - Due Diligence Vendor-XX/XX/XXXX Counter-If a valid COC cannot be provided for the credit report fee increase then Provide Letter of Explanation, Proof of Refund, Corrected PCCD, and Proof of Delivery to Borrower. Tolerance cure of $X,XXX.XX to be provided within 60 days of discovery. - Due Diligence Vendor-XX/XX/XXXX Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Credit Report Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please confirm if the credit report fee is the only issue and what the cure amount is - Due Diligence Vendor-XX/XX/XXXX |
Cured-Received PCCD reflecting a principal curtailment. - Due Diligence Vendor-XX/XX/XXXX |
Cured | XX/XX/XXXX | N/A | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305144449 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Appraisal Transfer Does Not Meet Guideline Requirements | Acknowledged-Client acknowledges that appraisal transfer does not meet the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX Open-Appraisal Transfer Does Not Meet Guideline Requirements. The appraisal was transferred to the current lender in accordance with lender guidelines. However, the investor (XXXXXXXX) states that appraisal transfers are ineligible. While audit located an exception approval from the investor, it remains unclear what specific terms were approved. The full email string was not provided, and the email does not reflect any compensating factors. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges that appraisal transfer does not meet the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305170596 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305145480 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305171845 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Resolved-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present. - Due Diligence Vendor-XX/XX/XXXX Resolved-VOM provided evidencing 1 x $X,XXX.XX. Per guidelines, must reflect no more than 1x30 for the past 12 months. Guideline met. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-VOM - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Verification of Mortgage (VOM) Document is missing for subject property to verify the monthly payments history - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present. - Due Diligence Vendor-XX/XX/XXXX Resolved-VOM provided evidencing 1 x $X,XXX.XX. Per guidelines, must reflect no more than 1x30 for the past 12 months. Guideline met. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305156838 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305144900 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305171626 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | CLTV exceeds client overlay guidelines | Acknowledged-Client acknowledges that CLTV exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX Open-Audited CLTV of 90% exceeds guideline CLTV of 89.99% allowed by client overlays. Client lender overlay guidelines requires a maximum CLTV of 89.99%. However, the current CLTV of the subject is 90%. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges that CLTV exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305171626 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | HCLTV exceeds client overlay guidelines | Acknowledged-Client acknowledges that HCLTV exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX Open-Audited HCLTV of 90% exceeds guideline HCLTV of 89.99% allowed by client overlays. Client lender overlay guidelines requires a maximum HCLTV of 89.99%. However, the current HCLTV of the subject is 90%. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges that HCLTV exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305171626 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | LTV exceeds client overlay guidelines | Acknowledged-Client acknowledges that LTV exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX Open-Audited LTV of 90% exceeds guideline LTV of 89.99% allowed by client overlays. Client lender overlay guidelines requires a maximum LTV of 89.99%. However, the current LTV of the subject is 90%. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges that LTV exceeds the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305171626 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Housing History Does Not Meet Guideline Requirements | Waived-Housing History Does Not Meet Guideline Requirements Non-Occupying coborrower is living rent-free. Lender provided approved exception prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX | Waived-Housing History Does Not Meet Guideline Requirements Non-Occupying coborrower is living rent-free. Lender provided approved exception prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
FICO > 740 and 20 points higher than guideline DTI < 35% and > 10% less than guideline Same job > 3 years |
Waived | XX/XX/XXXX | Originator Pre-Close | B | B | B | B | B | B | B | B | B | B | B | B | |
| 305142539 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305190484 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305144004 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305175241 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305179189 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305179188 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305176193 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305148825 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305156903 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Insurance | HO6 Insurance Policy Effective Date is after the Note Date | Acknowledged-HO-6 Insurance Policy Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX HO-6 effective date is after the note date but before the disbursement date. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-HO-6 Insurance Policy Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX HO-6 effective date is after the note date but before the disbursement date. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 305156903 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Transaction Ineligible | Waived-Combination of personal and business accounts used for business bank statement program. Lender provided approved exception prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX | Waived-Combination of personal and business accounts used for business bank statement program. Lender provided approved exception prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
FICO > 740 DTI < 35% Housing 0x30x24 |
Waived | XX/XX/XXXX | Originator Pre-Close | B | B | B | B | B | B | B | B | B | B | B | B | |
| 305180597 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305169923 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305185997 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited CLTV Exceeds Guideline CLTV | Waived-Audited CLTV of 90% exceeds Guideline CLTV of 85% As per the GL declining Market- determined by the appraiser requires 5% LTV reduction. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Audited CLTV of 90% exceeds Guideline CLTV of 85% As per the GL declining Market- determined by the appraiser requires 5% LTV reduction. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
FICO higher than 740, AND at least 20 points higher than guideline minimum- More then 20 point difference Qualifying DTI less than 35%, AND at least 10% less than guideline maximum- Less then 35% DTI and Variance more then 10% Housing payment history is 0x30x24 or better- No Late payment in rent |
Waived | XX/XX/XXXX | Originator Pre-Close | B | B | B | B | B | B | B | B | B | B | B | B | |
| 305185997 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited HCLTV Exceeds Guideline HCLTV | Waived-Audited HLTV of 90% exceeds Guideline HCLTV of 85% As per the GL declining Market- determined by the appraiser requires 5% LTV reduction. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Audited HLTV of 90% exceeds Guideline HCLTV of 85% As per the GL declining Market- determined by the appraiser requires 5% LTV reduction. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
FICO higher than 740, AND at least 20 points higher than guideline minimum- More then 20 point difference Qualifying DTI less than 35%, AND at least 10% less than guideline maximum- Less then 35% DTI and Variance more then 10% Housing payment history is 0x30x24 or better- No Late payment in rent |
Waived | XX/XX/XXXX | Originator Pre-Close | B | B | B | B | B | B | B | B | B | B | B | B | |
| 305185997 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Audited LTV of 90% exceeds Guideline LTV of 85% As per the GL declining Market- determined by the appraiser requires 5% LTV reduction. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Audited LTV of 90% exceeds Guideline LTV of 85% As per the GL declining Market- determined by the appraiser requires 5% LTV reduction. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
FICO higher than 740, AND at least 20 points higher than guideline minimum- More then 20 point difference Qualifying DTI less than 35%, AND at least 10% less than guideline maximum- Less then 35% DTI and Variance more then 10% Housing payment history is 0x30x24 or better- No Late payment in rent |
Waived | XX/XX/XXXX | Originator Pre-Close | B | B | B | B | B | B | B | B | B | B | B | B | |
| 305179186 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Credit score does not meet client overlay guidelines | Acknowledged-Client acknowledges that minimum FICO requirements does not meet the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX Open-Credit score of 691 is less than 700, the minimum credit score required per client overlay guidelines for LTV at 80% - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges that minimum FICO requirements does not meet the overlay guidelines, however, accepts due to meets the lender's guideline. Loan will be rated a B. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305175419 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305170667 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305176770 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305186077 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101040 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305130738 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited DTI Exceeds AUS DTI | Acknowledged-Received correct DU and 1008. The DU is dated post-closing. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-1008 and DU updated - Due Diligence Vendor-XX/XX/XXXX Counter-XXXXXXXX figures: Subject PITIA = $X,XXX.XX (P&I=$X,XXX.XX, Taxes $X,XXX.XX, HOI $X,XXX.XX, XXX $X,XXX.XX) Primary $X,XXX.XX, Other REO net rental loss=$X,XXX.XX, Other monthly dbet = $X,XXX.XX AUS total expense payment is $X,XXX.XX vs XXXXXXXX amount of $X,XXX.XX (difference of $X,XXX.XX subject PITI). There is also a variance in the income. The lender income on the AUS is $X,XXX.XX vs 1008 amount that matches XXXXXXXX $X,XXX.XX. Provide DU with the correct DTI and a corrected 1008. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Hello, could you provide how the rental income was determined? The team was not able to duplicate 35.10DTI On our end. - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 35.1% exceeds AUS DTI of 30.8% The audit calculation results in a DTI of 35.10%, which exceeds the AUS approved DTI of 30.80%, which includes the 3% tolerance. The variance is due to the rental income on the subject property of $X,XXX.XX which was included by in the audit calculation; however, appears to be excluded on the AUS. Documentation or income calculation for the omission of the PITIA for the subject property was not found in file. Please provide an updated AUS approving DTI of 35.10% or provide documentation for the omission of the subject PITIA. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Received correct DU and 1008. The DU is dated post-closing. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305130738 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Missing Doc | Missing Second Appraisal (Property) | Resolved-Second appraisal was provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Appraisal - Due Diligence Vendor-XX/XX/XXXX Open-The lender's guidelines requires two appraisals and the second appraisal was not provided. The secondary appraisal with value of $X,XXX.XX was not found in file. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Second appraisal was provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305100617 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Loan amount exceeds client overlay guidelines | Acknowledged-Client has acknowledged and downgraded loan amount based on full doc type. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX Counter-The XXXXXXXX Purchase criteria guidelines were provided to XXXXXXXX to review in conjunction with the XXXXXXXX Jumbo program guides. The XXXXXXXX Purchase criteria guideline max loan amount is $X,XXX.XX for NQM loan. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Response from team. - Due Diligence Vendor-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX is greater than the Guideline Maximum Loan Amount of $X,XXX.XX allowed by client overlays. Loan Amount of $X,XXX.XX > is greater than $X,XXX.XX, the max allowed per client overlay guidelines. The loan is a 30-year fixed, 10-year interest-only loan, therefore, considered non-QM. Maximum loan amount for non-QM loans is $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client has acknowledged and downgraded loan amount based on full doc type. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305100617 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | The Note is Incomplete | Resolved-The Note is Present - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Note and XXXXXXXX Tracking - Due Diligence Vendor-XX/XX/XXXX Open-The Note is Incomplete Per the 1008, Lock Confirmation and Closing Disclosure, the loan is a 30-year fixed with 10-year interest-only period. The Note in the loan file is for a 30-year fixed, fully amortizing loan. However, the payment indicated of $X,XXX.XX is the interest-only payment. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-The Note is Present - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305100617 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Missing Doc | Missing Appraisal (Property) | Resolved-Appraisal or other primary valuation product was provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-APPRAISAL - Due Diligence Vendor-XX/XX/XXXX Open-Appraisal or other primary valuation product is missing Guidelines require two appraisal report for purchase transactions with loan amount > $X,XXX.XX. Per Note, the loan amount is $X,XXX.XX. The loan file contained only one appraisal report (with value of $X,XXX.XX). The loan file is missing the second appraisal report with value of $X,XXX.XX as reflected on the 1008. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Appraisal or other primary valuation product was provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305155459 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305073456 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304846517 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304893762 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305038044 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305024943 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305012724 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304904507 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Loan amount less than client overlay guideline minimum | Resolved-Loan amount is not below client overlay minimum; condition resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: Please see attached. The XXXXXXXX Jumbo overlays do not reflect a minimum loan amount of $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX allowed by client overlays. Loan locked under Non-Agency AUS program. Client/ lender overlay guidelines allow a minimum loan amount of $X,XXX.XX, per the loan approval and Note, the subject loan amount is $X,XXX.XX. Loans with an AUS ineligible finding for cash out LTV are allowed under this program. However, the AUS finding is Approve/Eligible. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Loan amount is not below client overlay minimum; condition resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305029874 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305047153 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305013365 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305040597 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | DTI exceeds client overlay guidelines | Acknowledged-Client acknowledges DTI of 50.8% with comp factors of 795 DICO and 45% LTV. - Due Diligence Vendor-XX/XX/XXXX Counter-The XXXXXXXX account is joint. The co-borrower is the authorized user. The account attaches to the borrower. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: XXXXXXXX is being reported as an authorized user account, and the payment of $X,XXX.XX is not required to be considered per XXXXXXXX B3-5.3-06, Authorized Users of Credit (XX/XX/XXXX) - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 50.08% exceeds Guideline DTI of 50% allowed by client overlays. Client lender overlay guidelines reflect a maximum DTI of 50.00%. The audited DTI is 50.08%. Lender excluded XXXXXXXX account, account # ending XXXXXXXX, from the DTI calculation. The loan file does not contain documentation to confirm the exclusion of this account. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges DTI of 50.8% with comp factors of 795 DICO and 45% LTV. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305040597 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | QM-ATR | ATR Risk - Monthly Debt Obligations taken into consideration do not meet requirements | Acknowledged-Client acknowledges DTI of 50.8% with comp factors of 795 DICO and 45% LTV. - Due Diligence Vendor-XX/XX/XXXX Counter-The XXXXXXXX account is joint. The co-borrower is the authorized user. The account attaches to the borrower. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: XXXXXXXX is being reported as an authorized user account, and the payment of $X,XXX.XX is not required to be considered per XXXXXXXX B3-5.3-06, Authorized Users of Credit (XX/XX/XXXX) - Due Diligence Vendor-XX/XX/XXXX Open-ATR Risk - Monthly Debt Obligations taken into consideration do not meet requirements . - Due Diligence Vendor-XX/XX/XXXX Open-ATR Risk - Monthly Debt Obligations taken into consideration do not meet requirements Audited DTI of 50.08% exceeds Guideline DTI of 50% Lender excluded XXXXXXXX account, account # ending XXXXXXXX, from the DTI calculation. The loan file does not contain documentation to confirm the exclusion of this account. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges DTI of 50.8% with comp factors of 795 DICO and 45% LTV. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305040597 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited DTI Exceeds Guideline DTI | Acknowledged-Client acknowledges DTI of 50.8% with comp factors of 795 DICO and 45% LTV. - Due Diligence Vendor-XX/XX/XXXX Counter-The XXXXXXXX account is joint. The co-borrower is the authorized user. The account attaches to the borrower. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: XXXXXXXX is being reported as an authorized user account, and the payment of $X,XXX.XX is not required to be considered per XXXXXXXX B3-5.3-06, Authorized Users of Credit (XX/XX/XXXX) - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 50.08% exceeds Guideline DTI of 50% Lender excluded XXXXXXXX account, account # ending XXXXXXXX, from the DTI calculation. The loan file does not contain documentation to confirm the exclusion of this account. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Client acknowledges DTI of 50.8% with comp factors of 795 DICO and 45% LTV. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305040597 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | QM-ATR | Change in Originator Qualified Mortgage Designation | Acknowledged-This loan was already changed from QM to Non-QM. This finding is informational only. No further action is required. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XXXXXXXX XX/XX/XXXX This is Product is not Subject to QM - Due Diligence Vendor-XX/XX/XXXX Acknowledged-The lender changed the originator qualified mortgage designation from QM to Non QM. This finding is informational only. No further action is required. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-This loan was already changed from QM to Non-QM. This finding is informational only. No further action is required. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-The lender changed the originator qualified mortgage designation from QM to Non QM. This finding is informational only. No further action is required. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | A | A | A | A | A | A | A | A | A | A | A | A | ||
| 305040597 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | AbilityToRepay:TermAndFeatures | Federal - Qualified Mortgage Loan Features (01/14) | Resolved-Client acknowledges this loan does not meet QM requirements. QM status changed to Non-QM. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XXXXXXXX XX/XX/XXXX: product type is non-QM, please advise what further is needed from us to clear this finding - Due Diligence Vendor-XX/XX/XXXX Open-This loan cannot be a General Qualified Mortgage. The loan's (480.0) month loan term is greater than 30 years. (12 CFR 1026.43(e)(2)(ii)) - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Client acknowledges this loan does not meet QM requirements. QM status changed to Non-QM. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305029694 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305042298 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305042041 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305051111 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305087061 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305053429 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305077117 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305064137 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305078690 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305067569 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305086720 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305080623 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305080774 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305079447 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305147556 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Housing History Does Not Meet Guideline Requirements | Resolved-Borrower is not an owner of the XXXXXXXX property. Final loan application provided with the property removed. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: please see the attached documentation. Please note that according to the detail report the borrower is not an owner of the XXXXXXXX property. Due to the borrower not being obligated this was removed. I've also attached the final loan application with the property removed. - Due Diligence Vendor-XX/XX/XXXX Open-Housing History Does Not Meet Guideline Requirements copy of the Note and/or Final Closing Disclosure was not provided for the recent purchase of the borrower's other real estate-owned property. REO 3b (XXXXXXXX) - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Borrower is not an owner of the XXXXXXXX property. Final loan application provided with the property removed. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305104211 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Asset Qualification Does Not Meet Guideline Requirements | Waived-A policy exception for less than two (2) months asset statements was issues post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Attached are the supporting documents confirming that the assets for account $X,XXX.XX have been seasoned for two months. This includes a $X,XXX.XX capital contribution from XXXXXXXX. The business's certification of good standing, dated XX/XX/XXXX, verifies its establishment and demonstrates that the assets meet the two-month seasoning requirement. - Due Diligence Vendor-XX/XX/XXXX Counter-Lender's guidelines require assets to be sourced/seasoned for 60 days, finding remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached document showing that account XXXXXXXX is a new account where two months wont be available. As for account XXXXXXXX is not been used for cash to close nothing will be needed for that account. - Due Diligence Vendor-XX/XX/XXXX Open-Two months bank statements are required per lender guidelines. Missing two months bank statements for acct #XXXXXXXX and acct #XXXXXXXX. - Due Diligence Vendor-XX/XX/XXXX |
Waived-A policy exception for less than two (2) months asset statements was issues post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX |
DSCR Score 1.283 and a Qualifying FICO of 727. | Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 305104211 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Documentation 1 | Resolved-Updated rating to 1 as documentation received. - Due Diligence Vendor-XX/XX/XXXX Resolved-Received copies of final Closing Disclosures for XXXXXXXX, XXXXXXXX, XXXXXXXX and XXXXXXXX, finding resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached document that shows the final disclosure for each property. - Due Diligence Vendor-XX/XX/XXXX Open-Audit identified borrower purchased four additional REO properties on the same day of the subject loan closing. A copy of the Note and or final closing disclosure for the properties are missing. (XXXXXXXX, XXXXXXXX, XXXXXXXX, and XXXXXXXX) - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Updated rating to 1 as documentation received. - Due Diligence Vendor-XX/XX/XXXX Resolved-Received copies of final Closing Disclosures for XXXXXXXX, XXXXXXXX, XXXXXXXX and XXXXXXXX, finding resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305104210 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Documentation 1 | Resolved-Received final Closing Disclosures for XXXXXXXX, XXXXXXXX, XXXXXXXX and XXXXXXXX, finding resolved. - Due Diligence Vendor-XX/XX/XXXX Resolved-Received final Closing Disclosures for XXXXXXXX, XXXXXXXX, XXXXXXXX and XXXXXXXX, finding resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached document showing the final disclosure for each property. - Due Diligence Vendor-XX/XX/XXXX Open-Audit identified borrower purchased four additional REO properties on the same day of the subject loan closing. A copy of the Note and or final closing disclosure for the properties are missing. (XXXXXXXX, XXXXXXXX, XXXXXXXX, and XXXXXXXX) - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received final Closing Disclosures for XXXXXXXX, XXXXXXXX, XXXXXXXX and XXXXXXXX, finding resolved. - Due Diligence Vendor-XX/XX/XXXX Resolved-Received final Closing Disclosures for XXXXXXXX, XXXXXXXX, XXXXXXXX and XXXXXXXX, finding resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305104210 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Asset 1 Does Not Meet Guideline Requirements | Waived-A policy exception for less than two months account statements was issued post-closing. An exception was provided with appropriate compensating factors. Finding is non-material and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: The attached document verifies that account XXXXXXXX contains seasoned assets. A deposit of $X,XXX.XX was made on XX/XX/XXXX, originating from a business partner contribution to the same business associated with this file. Given the business's formation on XX/XX/XXXX, as confirmed by the corporation division, this deposit demonstrates seasoning for over two months. Only $X,XXX.XX of this amount is being utilized for cash to close and reverse. - Due Diligence Vendor-XX/XX/XXXX Counter-Lender's guidelines require assets to be sourced/seasoned for 60 days, finding remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached document showing that account XXXXXXXX is a new account where two months wont be available. As for account XXXXXXXX is not been used for cash to close nothing will be needed for that account.***backing the UW for now but if they come back and do not accept the docs will have to assign the error to the UW - Due Diligence Vendor-XX/XX/XXXX Open-Asset Record 1 Does Not Meet G/L Requirements - Due Diligence Vendor-XX/XX/XXXX Open-Asset Record 1 Does Not Meet G/L Requirements Two months bank statements are required per lender guidelines. Missing two months bank statements for acct #XXXXXXXX - Due Diligence Vendor-XX/XX/XXXX |
Waived-A policy exception for less than two months account statements was issued post-closing. An exception was provided with appropriate compensating factors. Finding is non-material and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX |
0x30 present housing history, 0x30 credit history, and 1.324 DSCR | Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 305089885 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101359 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Resolved-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached documentation. I've attached the verification of mortgage for the subject property to support the full payment history and no late payments. - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. A verification of mortgage for subject property to verify payment history is missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is not partially present. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305091969 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305122395 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | Missing Valuation Review Product - 1 | Resolved-Field Review Provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: Please see the attached Field Review. - Due Diligence Vendor-XX/XX/XXXX Open-A valid secondary valuation supporting the origination appraisal value is not present. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Field Review Provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305103893 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305129303 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Evidence of Entity Percentage Ownership | Resolved-Corporate resolution provided confirming borrower is XXXXXXXX. Evidence of Entity Percentage Ownership is not required per seller guidelines. - Due Diligence Vendor-XX/XX/XXXX Counter-We would still need to know the borrower’s ownership percentage. As such, we’d opine the corporate resolution alone would not work. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: As stated, we are required to verify that the borrower is a XXXXXXXX OR if they own 25% of the company, and we've confirmed that the borrower is a XXXXXXXX/XXXXXXXX. For that reason, their ownership percentage is not required to be documented. - Due Diligence Vendor-XX/XX/XXXX Counter-Page 37 of the agreed upon guidelines indicates, Guarantor(s) must be a XXXXXXXX or majority owner (25% or greater) of the business entity. Confirms borrower is a member, however unable to confirm ownership percentage. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: Page #37 of the agreed upon guidelines states the borrower must be a XXXXXXXX or a majority owner. The provided corporate resolution confirms the borrower is a XXXXXXXX/XXXXXXX and is authorized to sign on behalf of the company. Verification of their ownership percentage is not required. - Due Diligence Vendor-XX/XX/XXXX Open-Missing Evidence of Entity Percentage Ownership for each guarantor. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Corporate resolution provided confirming borrower is XXXXXXXX. Evidence of Entity Percentage Ownership is not required per seller guidelines. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305129303 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing VOM or VOR | Resolved-Documentation Provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: Please see attached. - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. 1003 application discloses four additional REO properties, located at XXXXXXXX., XXXXXXXX., XXXXXXXX., and XXXXXXXX. Copies of the Notes, Final Closing Disclosures, or Mortgage Payment Histories for these additional Real Estate Owned properties are missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Documentation Provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305129322 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Evidence of Entity Percentage Ownership | Resolved-Operating Agreement provided evidencing 40% ownership. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached documentation. Please note that page 18 of the operating agreement confirms that our borrower has 40% interest in the property which meets the required guidelines of being at least 25% owner. With the ownership percentage over 25% and the borrower having authorization to sign for the LLC, we are within the required guidelines. - Due Diligence Vendor-XX/XX/XXXX Counter-Per client, we would still need to know the borrower’s ownership percentage. As such, we’d opine the corporate resolution alone would not work. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: please note that per the guidelines for the product when we close in an LLC, the corporate resolution/ operating agreement must confirm the business name matches other LLC documentation, the primary borrower is a XXXXXXXX or majority owner of the LLC and the borrower is authorized to sign for the business. based on the corporate resolution we have a matching LLC name, the borrower is listed as the XXXXXXXX of the business supporting they are a XXXXXXX and majority shareholder, and there is confirmation that the borrower is authorized to sign for the business. Due to the information provided, we have sufficient evidence that confirms the ability to close in an LLC and confirmation of ownership as the borrower is labeled as the XXXXXXX and there is no additional evidence that suggests our borrower would be a minority share owner based on the corporate resolution provided. - Due Diligence Vendor-XX/XX/XXXX Counter-While a Corporate Resolution was provided, it does not evidence the ownership percentages held by the owners. Please provide documentation, such as the Operating Agreement, evidencing the ownership percentage(s). - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: please see the attached documentation. I've attached the corporate resolution for the LLC of XXXXXXXX. Please note that this is only a two member entity with both parties reflected as joint owners. With evidence of this business reflecting the ownership and having the owners both confirm the authorization and access to close in the LLC, we have confirmation the borrower is a split partner with sufficient ownership to close in the LLC with authorization confirmed. - Due Diligence Vendor-XX/XX/XXXX Open-Missing Evidence of Entity Percentage Ownership for each guarantor. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Operating Agreement provided evidencing 40% ownership. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305129322 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing VOM or VOR | Resolved-Closing Disclosures and Notes provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached documentation. I've attached the CD and notes for the new additional properties purchased. - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. 1003 application discloses four additional REO properties, located at XXXXXXXX., XXXXXXXX., XXXXXXXX., and XXXXXXXX. Copies of the Notes, Final Closing Disclosures, or Mortgage Payment Histories for these additional Real Estate Owned properties are missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Closing Disclosures and Notes provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305054363 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 304874817 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Documentation 2 | Resolved-According to the lender the borrower does not own this property. The final 1003 application does not reflect the property. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: This was not reflected on the final 1003, borrower does not own this property. - Due Diligence Vendor-XX/XX/XXXX Counter-The full address is XXXXXXXX, XXXXXXXX - reflected on the initial 1003 dated XX/XX/XXXX as property 3c. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please clarify full address of the REO in question, 1003 did not include any REOs on XXXXXXXX and we are unsure where this is coming from - Due Diligence Vendor-XX/XX/XXXX Open-Missing evidence REO XXXXXXXX is owned free and clear. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-According to the lender the borrower does not own this property. The final 1003 application does not reflect the property. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 304874817 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Documentation 1 | Resolved-The Closing Disclosures for all five recently closed loans have been provided, condition resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: See attached CDs - Due Diligence Vendor-XX/XX/XXXX Open-1003 application indicates REO properties # 3c, 3d, 3e, 3f, and 3g with a new mortgage with the lender. A copy of the Note and or final closing disclosure for the REOS with new mortgages as reflected on the 1003 application is missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-The Closing Disclosures for all five recently closed loans have been provided, condition resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305026114 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Asset 1 Does Not Meet Guideline Requirements | Waived-A policy exception for less than 2 months asset statements was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX Open-Asset Record 1 Does Not Meet G/L Requirements The borrower provided less than two months of checking account bank statements. Per lender guidelines, 60 days (two months) of statements are required. - Due Diligence Vendor-XX/XX/XXXX |
Waived-A policy exception for less than 2 months asset statements was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material and loan will be graded a B. - Due Diligence Vendor-XX/XX/XXXX |
DSCR Score of 1.928 where the guideline minimum is 1.0; Qualifying FICO of 765 and strong credit profile. | Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 304904532 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Housing History Does Not Meet Guideline Requirements | Resolved-Open lien report provided verifying borrower has no ownership in XXXXXXXX, condition resolved. - Due Diligence Vendor-XX/XX/XXXX Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please note that this property and mortgage are both reporting on the loan application in error. The attached documentation confirms that the borrower does not have any personal obligation to the property, nor the mortgage that is tied to the property. Due to this, the mortgage history is not required to be documented. - Due Diligence Vendor-XX/XX/XXXX Open-Housing History Does Not Meet Guideline Requirements Audit could not locate current mortgage history for property located on XXXXXXXX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Open lien report provided verifying borrower has no ownership in XXXXXXXX, condition resolved. - Due Diligence Vendor-XX/XX/XXXX Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305026178 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited DTI Exceeds AUS DTI | Waived-A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material, and loan will be graded a B." - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached AUS findings to confirm that the loan would still be eligible with a 49% DTI. XXXXXXXX cited a DTI of 49.24%, but LPA AUS rounds to the nearest whole number, so the 49% DTI in the AUS findings would be accurate. - Due Diligence Vendor-XX/XX/XXXX Counter-Interest and Dividend income of $X,XXX.XX was added to qualifying income. Audit did not include interest income of $X,XXX.XX and $X,XXX.XX on XXXX returns and $X,XXX.XX on XXXX returns, as statement(s) for these accounts were not provided. Recalculated DTI of 49.24% exceeds LP DTI of 46%. LP does not have a tolerance for DTI when it is over 45%. Condition retained. - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 49.24% exceeds AUS DTI of 46% - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please note that the borrower's XXXX and XXXX tax returns also reflect Dividends and Interest income that was not considered, but can be added into the DTI calculation. Please see the attached Income Worksheet to add $X,XXX.XX a month in D&I Income, keeping the DTI under 50%. - Due Diligence Vendor-XX/XX/XXXX Escalated-. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please note that while the tax returns reflect capital loss carryovers from prior years (lines 6 and 14 on Schedule D), there have been no realized losses in the past three years. The carryover losses can be excluded from the calculation, as the loss must be realized through the capital asset’s sale or exchange. Additionally, the carryover losses reporting on the XXXX returns would be carried over from XXXX, which falls outside the 24-month average calculation required by XXXXXXXX, further supporting that it would be excluded from the calculation. - Due Diligence Vendor-XX/XX/XXXX Counter-XXXXXXXX agrees that XXXXXXXX requires a 24-month average. Additionally, the XXXXXXXX calculator uses the figure on line 16 in the calculation. The Capital Gains income using line 16 is $X,XXX.XX -XXXX average and -$X,XXX.XX -XXXX and XXXX average. Using a 2-yr average would result in a higher DTI. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please note that XXXXXXXX 5305.1 requires a 24 month average to be used for calculating Capital Gains income. Please see the attached documentation including Schedule D from the XXXX and XXXX tax returns, along with a copy of the income worksheet that breaks down how the income was calculated. - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 51.19% exceeds AUS DTI of 46% Lender failed to accurately calculate Capital Gains Income per the XXXXXXXX Guidelines - Due Diligence Vendor-XX/XX/XXXX |
Waived-A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. Finding is non-material, and loan will be graded a B." - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX |
Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305026178 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | DTI exceeds client overlay guidelines | Resolved-Interest and Dividend income of $X,XXX.XX was added to qualifying income. Audit did not include interest income of $X,XXX.XX and $X,XXX.XX on XXXX returns and $X,XXX.XX on XXXX returns, as statement(s) for these accounts were not provided. Recalculated DTI of 49.24% meets client overlay guidelines. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-Audited DTI of 49.24% is less than or equal to Guideline DTI of 50% allowed by client overlays. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please note that the borrower's XXXX and XXXX tax returns also reflect Dividends and Interest income that was not considered, but can be added into the DTI calculation. Please see the attached Income Worksheet to add $X,XXX.XX a month in D&I Income, keeping the DTI under 50%. - Due Diligence Vendor-XX/XX/XXXX Escalated-. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please note that while the tax returns reflect capital loss carryovers from prior years (lines 6 and 14 on Schedule D), there have been no realized losses in the past three years. The carryover losses can be excluded from the calculation, as the loss must be realized through the capital asset’s sale or exchange. Additionally, the carryover losses reporting on the XXXX returns would be carried over from XXXX, which falls outside the 24-month average calculation required by XXXXXXXX, further supporting that it would be excluded from the calculation. - Due Diligence Vendor-XX/XX/XXXX Counter-XXXXXXXX agrees that XXXXXXXX requires a 24-month average. Additionally, the XXXXXXXX calculator uses the figure on line 16 in the calculation. The Capital Gains income using line 16 is $X,XXX.XX -XXXX average and -$X,XXX.XX -XXXX and XXXX average. Using a 2-yr average would result in a higher DTI. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please note that XXXXXXXX 5305.1 requires a 24 month average to be used for calculating Capital Gains income. Please see the attached documentation including Schedule D from the XXXX and XXXX tax returns, along with a copy of the income worksheet that breaks down how the income was calculated. - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 51.19% exceeds Guideline DTI of 50% allowed by client overlays. Lender failed to accurately calculate Capital Gains Income per the XXXXXXXX Guidelines - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Interest and Dividend income of $X,XXX.XX was added to qualifying income. Audit did not include interest income of $X,XXX.XX and $X,XXX.XX on XXXX returns and $X,XXX.XX on XXXX returns, as statement(s) for these accounts were not provided. Recalculated DTI of 49.24% meets client overlay guidelines. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-Audited DTI of 49.24% is less than or equal to Guideline DTI of 50% allowed by client overlays. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305026178 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Required Documentation is Missing | Resolved-Received CD for property. DTI increased by .7. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached CD for the purchase of the property at XXXXXXXX, please note that this property was purchased at the same time as the subject transaction. - Due Diligence Vendor-XX/XX/XXXX Open-Require supporting document to verify the PI for REO-4 listed on final 1003. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received CD for property. DTI increased by .7. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305013382 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305025063 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305047517 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305104126 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305102872 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101441 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101440 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101439 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101355 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Documentation 1 | Resolved-Received documentation of cash purchase of REO 3c, 3d and 3e, finding resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: Please see attached. All 3 properties were recently purchased, and no mortgage financing was utilized. The bank statement reflecting the payment of $X,XXX.XX is attached as well. - Due Diligence Vendor-XX/XX/XXXX Open-Missing verification REO properties 3c, 3d and 3e are owned free and clear. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received documentation of cash purchase of REO 3c, 3d and 3e, finding resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305101438 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305102871 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101437 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101436 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305129252 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305147542 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Borrowing Entity of Evidence of Good Standing | Resolved-Evidence of Good Standing provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: please see the attached certificate of good standing from the State of XXXXXXXX. Please note that the status is confirmed as in good standing. - Due Diligence Vendor-XX/XX/XXXX Open-Missing Evidence of Good Standing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Evidence of Good Standing provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305147542 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Resolved-Requested documentation provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: please see the attached payment history for the property located at XXXXXXXX with the deed of trust to confirm the loan and the property tied to this loan. Additionally I attached the CD and note for XXXXXXXX and the approval letter for XXXXXXXX. XXXXXXXX is currently in approved with conditions and has not closed yet, so there is no closing docs or CD or note to provide. I attached the approval letter with the current PITIA. - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. 1003 application discloses three additional REO properties, located at XXXXXXXX, XXXXXXXX., and XXXXXXXX, that were financed, two of which are with the lender. Copies of the Notes, Final Closing Disclosures, or Mortgage Payment Histories for these additional Real Estate Owned properties are missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Requested documentation provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305133669 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305139063 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Resolved-Documentation provided evidencing new loan. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX - XXXXXXXX: Please see attached. - Due Diligence Vendor-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Missing new loan documentation such as account statement, final cd or settlement statement for the new XXXXXXXX(per 1003) for XXXXXXXX, XXXXXXXX, XXXXXXXX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Documentation provided evidencing new loan. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305145495 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Letter of Explanation (Assets) | Resolved-Loan closed in the name of XXXXXXXX; however, assets are vested in XXXXXXXX. Per guidelines, if borrower is less than 100% owner of business, attestation must be provided from all other owners giving the borrower full access to the funds. If the loan will close vested in the same business entity as named on the business statement(s), the assets may be used without an access letter from the nonborrowing owners. Layered Entity therefore access letter would be needed. Access letter from remaining two members were provided therefore condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached documentation. While the borrower is not 100% owner of the business that is listed on the business assets, the loan did close in the same LLC. Per the Investor XXXXXXXX Guidelines, if the loan will close vested in the same business entity as named on the business statements, the assets may be used without an access letter from the non-borrowing owners. With the corporate resolution and the loan closing in the same LLC, we can confirm the borrower has access to these funds as the loan did close in the name of the same LLC. - Due Diligence Vendor-XX/XX/XXXX Resolved-Per guidelines, if borrower is less than 100% owner of business, attestation must be provided from all other owners giving the borrower full access to the funds. If the loan will close vested in the same business entity as named on the business statement(s), the assets may be used without an access letter from the non?borrowing owners. Loan closed in the name of XXXXXXXX; however, assets are vested in XXXXXXXX. Layered Entity therefore access letter would be needed. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached documentation. While the borrower is not 100% owner of the business that is listed on the business assets, the loan did close in the same LLC. Per the Investor XXXXXXXX Guidelines, if the loan will close vested in the same business entity as named on the business statements, the assets may be used without an access letter from the non-borrowing owners. With the corporate resolution and the loan closing in the same LLC, we can confirm the borrower has access to use these funds towards cash to close and reserves without an additional access letter. - Due Diligence Vendor-XX/XX/XXXX Open-Missing access letter from non-borrowing owners for business account #XXXXXXXX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Loan closed in the name of XXXXXXXX; however, assets are vested in XXXXXXXX. Per guidelines, if borrower is less than 100% owner of business, attestation must be provided from all other owners giving the borrower full access to the funds. If the loan will close vested in the same business entity as named on the business statement(s), the assets may be used without an access letter from the nonborrowing owners. Layered Entity therefore access letter would be needed. Access letter from remaining two members were provided therefore condition cleared. - Due Diligence Vendor-XX/XX/XXXX Resolved-Per guidelines, if borrower is less than 100% owner of business, attestation must be provided from all other owners giving the borrower full access to the funds. If the loan will close vested in the same business entity as named on the business statement(s), the assets may be used without an access letter from the non?borrowing owners. Loan closed in the name of XXXXXXXX; however, assets are vested in XXXXXXXX. Layered Entity therefore access letter would be needed. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305145495 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Documentation 1 | Resolved-Closing Disclosure received. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: please see the attached CD and Note to confirm the recently completed transaction at XXXXXXXX - Due Diligence Vendor-XX/XX/XXXX Open-Audit identified borrower purchased an additional REO property on the same day of the subject loan closing. A copy of the Note and or final closing disclosure for REO (XXXXXXXX) is missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Closing Disclosure received. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305145495 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Resolution | Resolved-Resolution provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XX/XX/XXXX XXXXXXXX: Please see the attached documentation. I've attached the corporate resolution for the multi-member LLC that the loan closed in. - Due Diligence Vendor-XX/XX/XXXX Open-Missing Resolution. A Unanimous Consent Agreement/ Corporate Resolution as required is missing from other members of the layered entity with members authorization for borrower’s signing authority is missing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Resolution provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305147656 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305169921 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305187827 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305013311 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305174110 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305132723 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | Missing Post Close Valuation - 1 | Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-AVM - Due Diligence Vendor-XX/XX/XXXX Open-A valid secondary valuation supporting the origination appraisal value is not present. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305132723 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Property | Loan approved with appraisal waiver, PIW grading applies | Acknowledged-Value grade equals B, loan approved with a PIW. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-Value grade equals B, loan approved with a PIW. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 304889570 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305098079 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 304898316 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Insurance | Hazard Insurance Effective Date is after the Disbursement Date | Acknowledged-Hazard Insurance Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-Hazard Insurance Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 305157747 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305133757 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | XXXXXXXX | Enterprise: FeeLimits | Resolved-BPL that is being sold to XXXXXXXX not GSE. Condition resolved. - Due Diligence Vendor-XX/XX/XXXX Counter-Subject is an Agency/XXXXXXXX loan. Per XXXXXXXX Seller/Service Guide Chapter 4202.2 Responsible Lending, Points and fees limitation for Exempt Mortgages – Exempt mortgages will be eligible for sale to XXXXXXXX if the points and fees do not exceed 5% of the total loan amount. Sellers must use the points and fees calculation that is required for high-cost mortgages under HOEPA and its implementing regulations, 12 CFR 1026.32(b). Condition retained. - Due Diligence Vendor-XX/XX/XXXX Open-The loan fees $X,XXX.XX exceed the (XXXXXXXX ATRExemptMortgage) (5%) fee limit, which is 5% of the Total Loan Amount $X,XXX.XX, the difference is $X,XXX.XX. According to the XXXXXXXX Seller/Servicer Guide, an ATR Exempt Mortgage is either not subject to TILA or is exempt from the ability-to-repay requirements in Reg Z 1026.43(a). (XXXXXXXX Single Family Seller/Servicer Guide, Chapter 4202.6). - Due Diligence Vendor-XX/XX/XXXX |
Per our Closing Department, this was reviewed by XXXXXXXX & deemed acceptable to proceed with closing with the XXXXXXXX High-Cost Fail and Enterprise Rules Warning. Per the following – this investor accepts XXXXXXXX High-Cost Fails and QM Pts & Fees Alerts when there is a prepayment penalty present. Exempt loans do not provide a Qualified Mortgage Loan Type causing the Warning. - XX/XX/XXXX |
Resolved-BPL that is being sold to XXXXXXXX not GSE. Condition resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | |
| 305155514 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101429 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | RESPA: Toolkit Not Provided Timely | Resolved-Received Attestation that the Lender is closed on Saturdays. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached eSign Process Summary showing the Toolkit was provided with the initial disclosures - Due Diligence Vendor-XX/XX/XXXX Acknowledged-RESPA: Toolkit Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received Attestation that the Lender is closed on Saturdays. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-RESPA: Toolkit Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | A | A | A | A | A | A | A | A | A | A | A | A | ||
| 305101429 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | ECOA: Appraisal Disclosure Not Provided Timely | Resolved-Received Attestation that the Lender is closed on Saturdays. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached eSign Process Summary showing the Appraisal Disclosure was provided with the initial disclosures - Due Diligence Vendor-XX/XX/XXXX Acknowledged-ECOA: Appraisal Disclosure Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received Attestation that the Lender is closed on Saturdays. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-ECOA: Appraisal Disclosure Date XX/XX/XXXX is not within three business days of Application Date XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | A | A | A | A | A | A | A | A | A | A | A | A | ||
| 305101429 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Tolerance:Disclosure | Federal - Loan Estimate Mailed/Delivered Within Three Business Days of Application | Resolved-Received Attestation that the Lender is closed on Saturdays. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Attestation - Due Diligence Vendor-XX/XX/XXXX Open-The Initial Disclosure Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). Under Regulation Z, a Loan Estimate must be delivered or placed in the mail not later than the third business day after receiving a consumer's application.(12 CFR 1026.19(e)(1)(iii)) The application date is XX/XX/XXXX; however, the initial disclosures were not provided until XX/XX/XXXX. Provide evidence the lender was not open for business on Saturday for purposes of disclosure timing. Additional conditions may apply. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received Attestation that the Lender is closed on Saturdays. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305101429 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Tolerance:Disclosure | Federal - Homeownership Counseling Disclosure Delivery | Resolved-Resolved - Due Diligence Vendor-XX/XX/XXXX Open-. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-The Homeownership Counseling Organization Disclosure Sent Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). Under 12 CFR 1024.20, not later than three business days after receipt of an application, or information sufficient to complete an application, the lender must provide the applicant with a clear and conspicuous written list of homeownership counseling organizations that provide relevant counseling services in the loan applicant's location. (12 CFR 1024.20) This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Resolved - Due Diligence Vendor-XX/XX/XXXX Acknowledged-The Homeownership Counseling Organization Disclosure Sent Date (XX/XX/XXXX) is more than 3 business days from the Application Date (XX/XX/XXXX). Three business days from the Application Date is (XX/XX/XXXX). Under 12 CFR 1024.20, not later than three business days after receipt of an application, or information sufficient to complete an application, the lender must provide the applicant with a clear and conspicuous written list of homeownership counseling organizations that provide relevant counseling services in the loan applicant's location. (12 CFR 1024.20) This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | B | A | B | A | B | A | B | A | B | A | B | A | ||
| 305101429 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305135358 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305120050 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305088251 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Operating Agreement | Resolved-Received Operating Agreement confirming borrower's percentage of ownership, finding resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached - Due Diligence Vendor-XX/XX/XXXX Open-The loan file is missing an operating agreement or other documentation to verify ownership. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received Operating Agreement confirming borrower's percentage of ownership, finding resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305088251 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited Reserves are less than Guideline Required Reserves (Number of Months) | Resolved-Post Closing CD and Documentation evidencing credit back to borrower post-closing provided in loan file. Borrower has three months reserves remaining after credit. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached - Due Diligence Vendor-XX/XX/XXXX Counter-Reviewed lender's response, provide letter of explanation, proof of refund and corrected post-closing CD. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Good afternoon, It's my understanding we are $X,XXX.XX short. Can we lender pay that amount in closing cost, refund the borrower and issue a post-closing CD? Please advise if this would be acceptable to cure the open conditions. - Due Diligence Vendor-XX/XX/XXXX Counter-Reviewed lender's rebuttal; however, the balance in the account ending in XXXXXXXX is $X,XXX.XX as of XX/XX/XXXX, the amount used by the Lender is from statement dated XX/XX/XXXX. Verified assets of $X,XXX.XX are insufficient for funds to close of $X,XXX.XX and reserves of $X,XXX.XX. Assets are short by $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX Open-Audited Reserves of 2.58 month(s) are less than Guideline Required Reserves of 3 month(s) Audited Reserves of 2.58 month(s) are less than Guideline Required Reserves of 3 month(s) - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached. I am showing verified assets of as follows- $X,XXX.XX acct #XXXXXXXX and $X,XXX.XX acct #XXXXXXXX = $X,XXX.XX PLUS funds from the refi of the primary residence of $X,XXX.XX. Total $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX Open-Audited Reserves of month(s) are less than Guideline Required Reserves of 3 month(s) Verified assets of $X,XXX.XX are insufficient for funds to close of $X,XXX.XX and reserves of $X,XXX.XX. Assets are short by $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Post Closing CD and Documentation evidencing credit back to borrower post-closing provided in loan file. Borrower has three months reserves remaining after credit. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305088251 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Insufficient asset documentation in file - assets do not cover closing costs | Resolved-Post Closing CD and Documentation evidencing credit back to borrower post-closing provided in loan file. - Due Diligence Vendor-XX/XX/XXXX Resolved-Sufficient asset documentation provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached - Due Diligence Vendor-XX/XX/XXXX Counter-Reviewed lender's response, provide letter of explanation, proof of refund and corrected post-closing CD. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Good afternoon, It's my understanding we are $X,XXX.XX short. Can we lender pay that amount in closing cost, refund the borrower and issue a post-closing CD? Please advise if this would be acceptable to cure the open conditions. - Due Diligence Vendor-XX/XX/XXXX Counter-Reviewed lender's rebuttal; however, the balance in the account ending in XXXXXXXX is $X,XXX.XX as of XX/XX/XXXX, the amount used by the Lender is from statement dated XX/XX/XXXX. Verified assets of $X,XXX.XX are insufficient for funds to close of $X,XXX.XX and reserves of $X,XXX.XX. Assets are short by $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached. I am showing verified assets of as follows- $X,XXX.XX acct #XXXXXXXX and $X,XXX.XX acct #XXXXXXXX = $X,XXX.XX PLUS funds from the refi of the primary residence of $X,XXX.XX. Total $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX Open-Insufficient asset documentation in file - assets do not cover closing costs. Verified assets of $X,XXX.XX are insufficient for funds to close of $X,XXX.XX and reserves of $X,XXX.XX. Assets are short by $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Post Closing CD and Documentation evidencing credit back to borrower post-closing provided in loan file. - Due Diligence Vendor-XX/XX/XXXX Resolved-Sufficient asset documentation provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305088251 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Assets | Total Qualified Assets for Reserves Post-Close is less than Total Required Reserve Amount | Resolved-Post Closing CD and Documentation evidencing credit back to borrower post-closing provided in loan file. - Due Diligence Vendor-XX/XX/XXXX Resolved-Total Qualified Assets for Reserves Post-Close of $X,XXX.XX is equal to or greater than Total Required Reserve Amount of $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached - Due Diligence Vendor-XX/XX/XXXX Counter-Reviewed lender's response, provide letter of explanation, proof of refund and corrected post-closing CD. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Good afternoon, It's my understanding we are $X,XXX.XX short. Can we lender pay that amount in closing cost, refund the borrower and issue a post-closing CD? Please advise if this would be acceptable to cure the open conditions. - Due Diligence Vendor-XX/XX/XXXX Counter-Reviewed lender's rebuttal; however, the balance in the account ending in XXXXXXXX is $X,XXX.XX as of XX/XX/XXXX, the amount used by the Lender is from statement dated XX/XX/XXXX. Verified assets of $X,XXX.XX are insufficient for funds to close of $X,XXX.XX and reserves of $X,XXX.XX. Assets are short by $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached. I am showing verified assets of as follows- $X,XXX.XX acct #XXXXXXXX and $X,XXX.XX acct #XXXXXXXX = $X,XXX.XX PLUS funds from the refi of the primary residence of $X,XXX.XX. Total $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX Open-Total Qualified Assets for Reserves Post-Close of $X,XXX.XX is less than Total Required Reserve Amount of $X,XXX.XX Verified assets of $X,XXX.XX are insufficient for funds to close of $X,XXX.XX and reserves of $X,XXX.XX. Assets are short by $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Post Closing CD and Documentation evidencing credit back to borrower post-closing provided in loan file. - Due Diligence Vendor-XX/XX/XXXX Resolved-Total Qualified Assets for Reserves Post-Close of $X,XXX.XX is equal to or greater than Total Required Reserve Amount of $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305088251 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Borrowing Entity of Evidence of Good Standing | Resolved-Evidence of Good Standing provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached - Due Diligence Vendor-XX/XX/XXXX Open-Missing Evidence of Good Standing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Evidence of Good Standing provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305088251 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Borrowing Entity Tax ID | Resolved-Borrowing Entity Tax ID provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached - Due Diligence Vendor-XX/XX/XXXX Open-Missing Borrowing Entity Tax ID. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Borrowing Entity Tax ID provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305137101 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Borrowing Entity Tax ID | Resolved-Borrowing Entity Tax ID provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-IRS EIN letter - Due Diligence Vendor-XX/XX/XXXX Open-Missing Borrowing Entity Tax ID. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Borrowing Entity Tax ID provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305137101 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Borrowing Entity of Evidence of Good Standing | Resolved-Evidence of Good Standing provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Certificate of Good Standing - Due Diligence Vendor-XX/XX/XXXX Open-Missing Evidence of Good Standing. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Evidence of Good Standing provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305137101 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Entity Documents | Resolved-Operating Agreement provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Operating Agreement - XXXXXXXX - Due Diligence Vendor-XX/XX/XXXX Open-Missing Entity Documents. Missing Entity Formation Document with verification of ownership percentage and missing managing Member / Unanimous Consent Agreement. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Operating Agreement provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305126387 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305132945 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305032525 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305050075 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305076182 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305097009 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305096947 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | E-Consent documentation is missing for borrower(s) | Resolved-E-Consent documentation for borrower(s) provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-ATTACHED. - Due Diligence Vendor-XX/XX/XXXX Open-E-Consent documentation is missing for borrower(s). - Due Diligence Vendor-XX/XX/XXXX |
Resolved-E-Consent documentation for borrower(s) provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305182334 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Tolerance:Disclosure | Federal - Closing Disclosure and Consummation Date | Resolved-Resolved - The CD was received and reviewed the same day XX/XX/XXXX. E consent Provided. - Due Diligence Vendor-XX/XX/XXXX Resolved-Resolved - Due Diligence Vendor-XX/XX/XXXX Ready for Review-The CD was rec and reviewed the same day XX/XX/XXXX. E consent attached. - Due Diligence Vendor-XX/XX/XXXX Open-The Initial Closing Disclosure was provided on (XX/XX/XXXX) via (USPSFirstClassMail). Under Regulation Z, a consumer must receive the Initial Closing Disclosure reflecting the actual terms of the transaction not later than three business days prior to the consummation date of (XX/XX/XXXX). Since the Initial Closing Disclosure was not provided in person, a consumer is considered to have received it on (XX/XX/XXXX), which is three business days after it was delivered or placed in the mail. Since the Initial Closing Disclosure was not provided to the consumer in person, it should have been provided to the consumer no later than (XX/XX/XXXX), for consummation to occur on (XX/XX/XXXX). (12 CFR 1026.19(f)(1)(ii)(A)); 1026.19(f)(1)(iii)) The Initial Closing Disclosure was provided on (XX/XX/XXXX) via (USPSFirstClassMail). Under Regulation Z, a consumer must receive the Initial Closing Disclosure reflecting the actual terms of the transaction not later than three business days prior to the consummation date of (XX/XX/XXXX). Since the Initial Closing Disclosure was not provided in person, a consumer is considered to have received it on (XX/XX/XXXX), which is three business days after it was delivered or placed in the mail. Since the Initial Closing Disclosure was not provided to the consumer in person, it should have been provided to the consumer no later than (XX/XX/XXXX), for consummation to occur on (XX/XX/XXXX). - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Resolved - The CD was received and reviewed the same day XX/XX/XXXX. E consent Provided. - Due Diligence Vendor-XX/XX/XXXX Resolved-Resolved - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305182334 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | E-Consent documentation is missing for borrower(s) | Resolved-E-Consent documentation received. Resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-E-Consent documentation received. Resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-attached. - Due Diligence Vendor-XX/XX/XXXX Open-E-Consent documentation is missing for borrower(s). - Due Diligence Vendor-XX/XX/XXXX |
Resolved-E-Consent documentation received. Resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305182334 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | Appraisal Delivery Does Not Conform To E-Sign Act | Resolved-Sufficient E-Consent documentation for appraisal delivery provided. - Due Diligence Vendor-XX/XX/XXXX Resolved-E consent received. Resolved. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-e consent attached - Due Diligence Vendor-XX/XX/XXXX Open-The appraisal was delivered electronically. E-Consent documentation is missing for borrower(s) or E-Consent not provided prior to appraisal delivery. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Sufficient E-Consent documentation for appraisal delivery provided. - Due Diligence Vendor-XX/XX/XXXX Resolved-E consent received. Resolved. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305182334 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Missing Doc | RESPA: Toolkit Missing or Incomplete | Acknowledged-RESPA: Toolkit Missing or Incomplete. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-RESPA: Toolkit Missing or Incomplete. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 305167677 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Missing Doc | ECOA: Most Recent Primary Appraisal Not Provided to Applicant | Acknowledged-ECOA: Most Recent Primary Appraisal Date of XX/XX/XXXX is after the Primary Appraisal Delivery Date of XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies - Due Diligence Vendor-XX/XX/XXXX Open-ECOA Non-Compliant: Most Recent Primary Appraisal Not Provided to Applicant. ECOA: Most Recent Primary Appraisal Date of XX/XX/XXXX is after the Primary Appraisal Delivery Date of XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-ECOA: Most Recent Primary Appraisal Date of XX/XX/XXXX is after the Primary Appraisal Delivery Date of XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | B | B | B | B | B | B | B | B | B | B | ||
| 305167677 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | Missing Valuation Review Product - 1 | Waived-Lender waived requirement for field review and used CDA value for LTV/CLTV ratios. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached Sr management approval that was in the file regarding the review. - Due Diligence Vendor-XX/XX/XXXX Counter-Received CDA previously in file dated XX/XX/XXXX that does not support appraisal value, variance >10%. Please provide a field review to support the original appraised value as the variance from the Secondary valuation exceeds 10%. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-attached. - Due Diligence Vendor-XX/XX/XXXX Counter-Product IN30FIO is a First lien product per the Guidelines. he 1008, loan approval confirm 1st lien. The subject loan is a cash-out refinance paying off the existing 1st mortgage, per the final CD and title. TPlease provide a field review to support the original appraised value as the variance from the Secondary valuation exceeds 10%. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Can you advise what document you are referring to? - Due Diligence Vendor-XX/XX/XXXX Counter-Per loan documents provided, the subject loan is a 1st lien with product IN30FIO; therefore a 2nd valuation is required. Guidelines require a field review if the Secondary Valuation product does not support value within 10%. Please provide a field review supporting the appraised value. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-This is a 2nd lien. a secondary valuation is not needed per our guidelines. - Due Diligence Vendor-XX/XX/XXXX Open-A valid secondary valuation supporting the origination appraisal value is not present. Guidelines require a field review if the Secondary Valuation product does not support value within 10%. Note: The guidelines do not state is allowable to just defer to the lower value of the CDA. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Lender waived requirement for field review and used CDA value for LTV/CLTV ratios. - Due Diligence Vendor-XX/XX/XXXX |
Comp factors: 44.24% DTI and 0*30 mortgage payment history since XXXX | Waived | XX/XX/XXXX | Originator Pre-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 305167677 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | Appraisal Delivery Does Not Conform To E-Sign Act | Resolved-E-Consent received showing date of XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX Ready for Review-ECONSENT ATTACHED. - Due Diligence Vendor-XX/XX/XXXX Open-The appraisal was delivered electronically. E-Consent documentation is missing for borrower(s) or E-Consent not provided prior to appraisal delivery. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-E-Consent received showing date of XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305182071 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305182070 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305030291 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P RA Only - Value grade equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. S&P RA Only - Value grade equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P RA Only - Value grade equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. S&P RA Only - Value grade equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305030213 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Client approved exception to purchase criteria. LTV within Lender guidelines. Finding downgraded. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see matrix attached max ltv is 85% w/a 774 fico. Thank you. - Due Diligence Vendor-XX/XX/XXXX Open-Audited LTV of 80% exceeds Guideline LTV of 75% Audited LTV of 80% does not meet the max LTV of 75% as 5% LTV reduction was applied due to declining market. - Due Diligence Vendor-XX/XX/XXXX |
766 FICO > 740 min 3.3 months reserves - XX/XX/XXXX |
Waived-Client approved exception to purchase criteria. LTV within Lender guidelines. Finding downgraded. - Due Diligence Vendor-XX/XX/XXXX |
766 FICO > 740 MIN 3.3 months reserves |
Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B |
| 305030213 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Debt Service Coverage Ratio below guideline minimum | Waived-Lender provided approved exception dated post consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached - Due Diligence Vendor-XX/XX/XXXX Counter-Reviewed Lender's rebuttal, audit is using PITIA of $X,XXX.XX per month. It appears the difference is due to lender using XXX fee of $X,XXX.XX per month; however, the appraisal indicates XXX fee is $X,XXX.XX per month. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please provide breakdown of Investor calculation to where you are receiving a DSCR of .852 - Due Diligence Vendor-XX/XX/XXXX Open-Debt Service Coverage Ratio of 0.852 is below guideline minimum of 1.0 client overlay requirement. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Lender provided approved exception dated post consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
774 FICO, 17.27 months in reserves | Waived | XX/XX/XXXX | Originator Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 305030213 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Missing Mortgage Riders - Condo Rider | Resolved-The Condo Rider is Present - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Mortgage document Uniform Covenant #38 provides the relevant terms for the condominium property. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please note: We do not include riders because we already include the relevant terms within the security instrument, or we have the terms changed and replace rather than using a rider to edit boilerplate language which leaves ambiguity and interpretation in the courts in a dispute. - Due Diligence Vendor-XX/XX/XXXX Open-Condo Rider is Missing - Due Diligence Vendor-XX/XX/XXXX |
Resolved-The Condo Rider is Present - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 305030213 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Insurance | HO6 Insurance Policy Effective Date is after the Note Date | Resolved-HO-6 Insurance Policy Effective Date of XX/XX/XXXX is prior to or equal to the Note Date of XX/XX/XXXX Or HO-6 Insurance Policy Effective Date Is Not Provided - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Hazard insurance with an effective date of XX/XX/XXXX was received. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached HOI Policy - Due Diligence Vendor-XX/XX/XXXX Open-HO-6 Insurance Policy Effective Date of XX/XX/XXXX is after the Note Date of XX/XX/XXXX - Due Diligence Vendor-XX/XX/XXXX |
Resolved-HO-6 Insurance Policy Effective Date of XX/XX/XXXX is prior to or equal to the Note Date of XX/XX/XXXX Or HO-6 Insurance Policy Effective Date Is Not Provided - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305030213 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited HCLTV Exceeds Guideline HCLTV | Waived-Client approved exception to purchase criteria. LTV within Lender guidelines. Finding downgraded. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see matrix attached max ltv is 85% w/a 774 fico. Thank you. - Due Diligence Vendor-XX/XX/XXXX Open-Audited HLTV of 80% exceeds Guideline HCLTV of 75% - Due Diligence Vendor-XX/XX/XXXX |
Waived-Client approved exception to purchase criteria. LTV within Lender guidelines. Finding downgraded. - Due Diligence Vendor-XX/XX/XXXX |
766 FICO > 740 MIN 3.3 months reserves |
Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 305030213 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited CLTV Exceeds Guideline CLTV | Waived-Client approved exception to purchase criteria. LTV within Lender guidelines. Finding downgraded. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see matrix attached max ltv is 85% w/a 774 fico. Thank you. - Due Diligence Vendor-XX/XX/XXXX Open-Audited CLTV of 80% exceeds Guideline CLTV of 75% Audited CLTV of 80% does not meet the max LTV of 75% as 5% LTV reduction was applied due to declining market. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Client approved exception to purchase criteria. LTV within Lender guidelines. Finding downgraded. - Due Diligence Vendor-XX/XX/XXXX |
766 FICO > 740 min 3.3 months reserves |
Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | |
| 305130705 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305076297 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305107669 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | CHARM Booklet Not Provided Within 3 Days of Application Date | Resolved-Received XX/XX/XXXX LE, tracking info for Charm booklet sent XX/XX/XXXX, and COC for program change. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-CHARM Booklet Not Provided Within 3 Days of Application Date Loan converted to an ARM on XX/XX/XXXX. The CHARM Booklet is dated XX/XX/XXXX which is more than 3 days from the date of conversion XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received XX/XX/XXXX LE, tracking info for Charm booklet sent XX/XX/XXXX, and COC for program change. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-CHARM Booklet Not Provided Within 3 Days of Application Date Loan converted to an ARM on XX/XX/XXXX. The CHARM Booklet is dated XX/XX/XXXX which is more than 3 days from the date of conversion XX/XX/XXXX. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | B | A | B | A | B | A | B | A | B | A | B | A | ||
| 305107669 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | Disclosure | ARM Disclosure Not Provided Within 3 Days of Application Date | Resolved-Received ARM disclosure dated XX/XX/XXXX when the program changed and the XX/XX/XXXX LE. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see attached. - Due Diligence Vendor-XX/XX/XXXX Open-ARM Disclosure Not Provided Within 3 Days of Application Date Loan converted to an ARM on XX/XX/XXXX. The ARM Disclosure is dated XX/XX/XXXX which is more than 3 days from the date of conversion XX/XX/XXXX. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received ARM disclosure dated XX/XX/XXXX when the program changed and the XX/XX/XXXX LE. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305174306 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305101525 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Compliance | QM-ATR | ATR Risk - Monthly Debt Obligations taken into consideration do not meet requirements | Resolved-ATR Risk - Monthly Debt Obligations taken into consideration meet requirements - Due Diligence Vendor-XX/XX/XXXX Ready for Review-waterfall condition to the other condition - Due Diligence Vendor-XX/XX/XXXX Open-ATR Risk - Monthly Debt Obligations taken into consideration do not meet requirements XXXXXXXX Guidelines require 12 months cancelled checks or bank statements documenting a 12-month history of making payments without delinquencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-ATR Risk - Monthly Debt Obligations taken into consideration meet requirements - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305101525 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Borrower | Missing required documentation for debt paid by others | Resolved-Received verification lease is paid by the business. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-debt paid by business - Due Diligence Vendor-XX/XX/XXXX Open-Documentation for debt(s) paid by other than borrower does not meet requirements for exclusion from DTI calculations. XXXXXXXX Guidelines require 12 months cancelled checks or bank statements documenting a 12-month history of making payments without delinquencies. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received verification lease is paid by the business. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 304894538 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Required Documentation is Missing | Resolved-Received clarification on HOI. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please waive additional stip since HOI docs were provided on XX/XX/XXXX for 3e and 3i. The HOI policy provided covers XXXXXXXX and XXXXXXXX are location 2 and 4 on the policy. - Due Diligence Vendor-XX/XX/XXXX Counter-Received documents to clear REO 3b, 3c and 3h. Missing HOI for 3e (XXXXXXXX) and 3i (XXXXXXXX). Attachments 3 and 5 are the same HOI doc for XXXXXXXX. Condition remains. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Please see final CDs for PITIA for properties on 1003 under 3b and 3h. See HOI docs for 3c 3e and 3i. - Due Diligence Vendor-XX/XX/XXXX Open-Missing evidence of PITI payment for properties listed in Sections 3b and 3h on Final loan application and also Missing Evidence of Hazard insurance for properties in Sections 3c, 3e and 3i. Additional conditions may apply. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-Received clarification on HOI. Condition cleared. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | D | A | D | A | D | A | D | A | D | A | D | A | ||
| 304894538 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | Missing Post Close Valuation - 1 | Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-cda - Due Diligence Vendor-XX/XX/XXXX Open-A valid secondary valuation supporting the origination appraisal value is not present. - Due Diligence Vendor-XX/XX/XXXX |
Resolved-A valid secondary valuation supporting the origination appraisal value was provided. - Due Diligence Vendor-XX/XX/XXXX |
Resolved | XX/XX/XXXX | N/A | C | A | C | A | C | A | C | A | C | A | C | A | ||
| 305027193 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305089990 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Eligibility | Audited DTI Exceeds AUS DTI | Waived-A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Audited DTI of 35.72% is less than or equal to AUS DTI of 35.72%. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-XXXXXXXX - Due Diligence Vendor-XX/XX/XXXX Open-Audited DTI of 35.72% exceeds AUS DTI of 12.66% The AUS approving DTI of 35.56% is missing from the loan file. The 1008 reflects an approved DTI of 35.56%. The audit DTI is 35.72%. The variance in the 1008, the AUS and the audit DTI is due to the negative rental income on the subject property. The AUS reflects $X,XXX.XX for negative rental income, the 1008 and audit reflects -$X,XXX.XX in negative rental income for the subject property. Please provide the AUS results that include the negative rental income on the subject property in the total debt obligations. - Due Diligence Vendor-XX/XX/XXXX |
Waived-A policy exception was issued post-closing. Lender exception was provided with appropriate compensating factors. This finding is non-material and will be rated a B for all agencies. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Audited DTI of 35.72% is less than or equal to AUS DTI of 35.72%. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX |
Waived | XX/XX/XXXX | Investor Post-Close | C | B | C | B | C | B | C | B | C | B | C | B | ||
| 305196078 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305120417 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Credit | Missing Doc | Borrower 1 3rd Party VOE Prior to Close Missing | Acknowledged-Business 31 income was removed and an updated 1008, AUS, and 1003 were provided. The AUS is dated post-closing. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-See attached - Due Diligence Vendor-XX/XX/XXXX Open-Borrower 1 3rd Party VOE Prior to Close Missing VVOE for business #1 on the final 1003 is missing from the loan file. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Business 31 income was removed and an updated 1008, AUS, and 1003 were provided. The AUS is dated post-closing. Lender provided approved exception to use DU/LP dated post-closing. The exception was received post consummation via email. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | D | B | D | B | D | B | D | B | D | B | D | B | ||
| 305133597 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305119755 | XXXXXXXX | XXXXXXXX | XXXXXXX | XX/XX/XXXX | Property | Value | S&P value equals B, secondary product within tolerance | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX | Acknowledged-S&P value equals B, secondary product within tolerance. This finding will be rated a B for S&P. All other agencies will be rated as A. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged | XX/XX/XXXX | Investor Post-Close | B | B | A | A | A | A | A | A | A | A | B | B | ||
| 305130568 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305181895 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A | ||||||||
| 305050105 | XXXXXXXX | XXXXXXXX | NO FINDINGS | NO FINDINGS | NO FINDINGS | NO FINDINGS | A | A | A | A | A | A | A | A | A | A | A | A |