Exhibit 99.06 - Schedule 2

Loan Number

Loan ID

Finding #

Last Name

Note Date

DD Start Date

DD Delivery Date

Audit Category

Audit Issue

Finding ID

Exception Finding

Remediation Status

Exception Rebuttal

Exception Response

Status Comment

Compensating Factors

SOL Expiration Date

Initial Findings Grade

Final Findings Grade

Initial Loan Grade

Final Loan Grade

XXXX

2180013

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2180013

2 of 3

XXXX

Credit

Assets - Minimum Reserves

XXXX

Per Lender's guides, the borrower is required to verify XXXX months reserves. The borrower was required to verify $XXXX CTC and $XXXX XXXX months reserves, which equals $XXXX. However, the borrower verified $XXXX in assets. The borrower is short verified funds of $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The final CD indicates an amount to close of $XXXX We need XXXX months reserves $XXXX * XXXX =$XXXX Total: $XXXX Verified assets: $XXXX Additonal reserves: $XXXX – XXXX months

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Why are POC fees being counted against available reserves? They were paid outside closing by the borrower. They should not count.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
The reserve shortage has been cured through a post-closing lender reimbursement. The lender has refunded $XXXX to the borrower, effectively reducing the borrower&#XXXX;s funds required to close by the same amount. Please find enclosed the corrected Post-Closing Closing Disclosure (PCCD), a copy of the refund check, and proof of mailing. Based on the corrected settlement figures, the borrower&#XXXX;s verified assets are sufficient to satisfy the required reserve requirement.

Response 1 (XX/XX/XXXX XX:XXAM)
Funds available $XXXX. Funds required $XXXX POC + $XXXX EMD + $XXXX Cash to close + $XXXX reserves = XXXX. Shortage of $XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
POC items must be documented by credit card or by bank account. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2180013

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file contained an AVM dated XX/XX/XXXX which did not support the appraised value within 10%.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX value reconciled when BPO showed a lower value with a variance greaterthan (-XXXX%)?

Response 1 (XX/XX/XXXX XX:XXAM)
Agree. The AVM in the loan file did not support the appraised value within 10%. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Additional secondary valuation product supports value. (Resolved)

XXXX (XX/XX/XXXX XX:XXAM)
please see DVR

XXXX

2213902

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213902

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213902

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2213901

1 of 5

XXXX

Compliance

QM - Rebuttable Presumption

XXXX

This loan does not qualify for a safe harbor level of compliance with the qualified mortgage rule. (12 CFR 1026.43(b)(4), (e)(1)). This loan does not qualify for a safe harbor. The loan has an APR of XXXX%. The APR threshold to qualify for a safe harbor is XXXX%

Acknowledged

XXXX

2213901

2 of 5

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Initial CD is dated XXXX/XXXX. XXXX attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Document attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documents not received. Please resubmit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2213901

3 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Underwriting fee, MERS fee, and Tax Service fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
COC with reason of fees being added/updated attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
COC attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Documents not received. Please resubmit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2213901

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213901

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211631

1 of 6

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211631

2 of 6

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

A XXXX report is missing on the entity, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Uploaded OFAC for entity and BG report for Guarantor. Per ABL approved guidelines this satisfies entity + borrower verification. Additional entity docs should all be found in submitted credit package.

Response 1 (XX/XX/XXXX XX:XXAM)
Full background check required on Borrower/Principal. OFAC received on Entity. (Resolved)

XXXX

2211631

3 of 6

XXXX

Credit

Final Application - Missing

XXXX

An application is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached XXXX standard form loan application, colloquially known as XXXX;Docs Package;. XXXX does not execute standard FNMA/FRMC 1003s. Please accept.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
XXXX standard DSCR application attached. We do not execute formal FNMA XXXXs. Please accept.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Final loan application

Response 1 (XX/XX/XXXX XX:XXAM)
Document not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
XXXX Application not received. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX (XX/XX/XXXX XX:XXPM)
please see XXXX application

XXXX

2211631

4 of 6

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

A satisfactory mortgage payment history for the private loan paid off at closing with XXXX, is missing from the file.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Payment history for prior lien not required. Payoff statement (provided) does not indicate any late charges, default interest, or other additional obligations arising from delinquency. Please waive.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Not required by approved XXXX dated XX/XX/XXXX which do not require mortgage payment history on prior loan. Payoff demand letter on file indicates $XXXX in late fees, accrued default interest, or other non-performing obligations. Pay histories are requested when poor performance is suspected, or a 1x30x12 appears on credit. No derogatory events on CR.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Here are the guides. The only section that requires a prior loan&#XXXX;s payment history is for non-arm&#XXXX;s length transactions on p.XXXX, Appendix &#XXXX;D&#XXXX;. However, this deal is NOT a NALT. Since we are silent on prior loan payment histories, it&#XXXX;s XXXX not required. They may be requested at the underwriter&#XXXX;s discretion.

Response 1 (XX/XX/XXXX XX:XXAM)
Mortgage payment history is part of XXXX credit requirements. Mortgage payoff in file does not include payment history. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Please provided referenced guide, citing section and page number. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Investor requires a payment history on any mortgage payoff being funded by the subject transaction. (XXXX)

Response 4 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: Calculated DSCR XXXX, 0x30x99 mortgage history

XXXX. XXXX% LTV. XXXX DSCR.

XXXX

2211631

5 of 6

XXXX

Credit

Program Parameters - LTV

XXXX

DSCR. The loan closed as a cash-out refinance, XXXX, and XXXX% LTV. Per the LTV matrix, the max LTV allowed is XXXX%. The LTV does not meet the program eligibility guidelines.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached ABL UW guides. LTV matrix (Appendix 1a) permits XXXX% LTV on XXXX refi for XXXX–XXXX cohort when DSCR is >=1.20x. Actual DSCR on this deal = 1.33x. Eligible per grids. Please waive.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2211631

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2211630

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211630

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211630

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2211632

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211632

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The file is missing a XXXX report for the entity, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
OFAC for the entity provided along with XXXX report of Guarantor. This meets ABL guidelines for entity + borrower verification as credit package should contain OA, Articles of Formation, Cert of Existence, and COGS.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation and documentation received is sufficient. (Resolved)

XXXX

2211632

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2210570

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2210570

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. The hazard insurance did not reflect All Perils coverage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX 2 (XX/XX/XXXX XX:XXAM)
see response from ins agent

Response 1 (XX/XX/XXXX XX:XXAM)
Investor requires that All Perils be referenced. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2210570

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2207205

1 of 6

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX months prepayment term. The loan fails the prepayment test by XXXX months.

Acknowledged

XXXX

2207205

2 of 6

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
not required

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
data tape updated to QM Status = EXEMPT and sent to SFTP

Response 1 (XX/XX/XXXX XX:XXPM)
According to the XXXX provided, the loan was originated as Non-QM. A Non-QM loan is considered a TRID loan. Non-QM and Exempt are not synonymous. If the loan is Exempt from QM testing, please provide an updated XXXX re-designating the loan as Exempt reflecting the loan was originated as Exempt. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Based on the new data tape provided, the loans was originated as Exempt and is sufficient to clear the finding. (Resolved)

XXXX

2207205

3 of 6

XXXX

Compliance

TRID - Loan Estimate/Missing

XXXX

There is no evidence of a complete Loan Estimate provided in the loan file. As a result testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
not required

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
data tape updated to QM Status = EXEMPT and sent to SFTP

XXXX

2207205

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The subject was a cash out refinance and closed with an LTV of XXXX%. The investor guidelines required cash out refinances with an LTV than XXXX% be enrolled in Ach Auto Pay. The required executed auto payment form was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ACH

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207205

5 of 6

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. Required all perils was not noted on the insurance policy.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
email from agent

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207205

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2207204

1 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months.

Acknowledged

XXXX

2207204

2 of 4

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
does not need to comply to TRID

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
data tape updated to QM Status = EXEMPT and sent to SFTP

XXXX

2207204

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ACH

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207204

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2207081

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207081

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207081

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2215411

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2215411

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Signed app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2215411

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
secondary valuation attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2215412

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2215412

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
signed app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2215412

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210620

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210620

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210620

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210616

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210616

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
application attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Comp factors: XXXX, experienced investor

XXXX

2210616

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2215409

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2215409

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2215409

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file contains a CDA; however, the CDA is illegible.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
appraisal attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210618

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210618

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
signed app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210618

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210621

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210621

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
signed app attached, sorry meant to attached DVR to valuations folder see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210621

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210617

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210617

2 of 5

XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The appraisal provided was missing the sketch addendum, site plan, location map, as well as comparable and rental photos.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Sketch is on page XXXX of appraisal report Comp photos are on the appraisal as well

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210617

3 of 5

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The Lender's guidelines required a fraud report on all entity members with a XXXX% or greater ownership. The loan file did not contain a fraud report for XXXX, who owner XXXX% of XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background report attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
LN report attached sorry about that.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210617

4 of 5

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210617

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210619

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210619

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210619

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210614

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210614

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210614

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2215410

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2215410

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The hazard insurance policies for each of the cross collateralized properties reflect a deductible of $XXXX which exceeds the maximum allowed XXXX% of coverage. The hazard policy for the subject property located at XXXX XXXX reflects a coverage of $XXXX. The hazard policy for the subject property located at XXXX reflects a coverage of $XXXX. The hazard policy for the subject property located at XXXX reflects a coverage of $XXXX. The hazard policy for the subject property located at XXXX reflects a coverage of $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see approval email.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Comp factors: XXXX, XXXX% LTV, strong reserves

XXXX

2215410

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX and XX/XX/XXXX which support the appraised values.

Cleared

XXXX

2215415

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2215415

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2215415

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2215413

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2215413

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2215413

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2215416

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2215416

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2215416

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2215414

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2215414

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
signed collateral package.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2215414

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210572

1 of 5

XXXX

Compliance

TRID - 10% Tolerance Violation (Disclosure Timing Fail)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following increases: Recording Fees. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Initial CD and COC Final

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2210572

2 of 5

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation)- Rescindable

XXXX

Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The CD issued on XX/XX/XXXX was signed and dated at consummation, XX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX/XXXX was final CD and delivered with the closing package. ICD issued XXXX/XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2210572

3 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (Disclosure Timing Fail)

XXXX

The loan failed the charges that cannot increase test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following addition: CEMA Attorney Fee. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
COC issued at closing for CEMA

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2210572

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210572

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2216577

1 of 5

XXXX

Compliance

HOC - Missing

XXXX

The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Exempt.

Response 1 (XX/XX/XXXX XX:XXPM)
Based on the new data tape provided, the loans was originated as Exempt and is sufficient to clear the finding. (Resolved)

XXXX

2216577

2 of 5

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Non- Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: The Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX was signed and datedXX/XX/XXXX. If disclosure was delivered electronically evidence of receipt as well as the consumer's E-consent is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
not required

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
updated data tape sent to SFTP 9.1.26

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Exempt.

Response 1 (XX/XX/XXXX XX:XXAM)
According to the XXXX provided, the loan was originated as Non-QM. A Non-QM loan is considered a TRID loan. Non-QM and Exempt are not synonymous. If the loan is Exempt from QM testing, please provide an updated XXXX re-designating the loan as Exempt reflecting the loan was originated as Exempt. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The data tape referenced on XX/XX/XXXX was not received. If the loan is Exempt from QM testing, please provide an updated XXXX re-designating the loan as Exempt reflecting the loan was originated as Exempt. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Based on the new data tape provided, the loans was originated as Exempt and is sufficient to clear the finding. (Resolved)

XXXX

2216577

3 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Points. A cost to cure in the amount of XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
not required

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
updated data tape sent to SFTP 9.1.26

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Exempt.

XXXX

2216577

4 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Other. The subject is a cash out refinance with an LTV of XXXX%. The investor guidelines required all cash out refinances with LTV greater than XXXX% to be enrolled in XXXX Payments. The Automatic Payment Enrollment Form was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ACH

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216577

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2200760

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200760

2 of 4

XXXX

Credit

Income - Other

XXXX

The income for the subject transaction was from XXXX months of bank statements. The file contained an accountant letter with the business expense ratio. The investor guidelines required the tax preparer letter to state the expense ratio based on the most recent year's filed tax return. The accountant letter did not state that tax returns were filed by the accountant or reviewed by the accountant as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached XXXX letters from accountant

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2200760

3 of 4

XXXX

Credit

Verification Documentation - VOR

XXXX

Borrower currently rents at exit property for $XXXX per month. The investor guidelines required a VOR with XXXX months cancelled checks or XXXX payment history to support the payment history. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached VOR statement

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2200760

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2204735

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204735

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204735

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2210571

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210571

2 of 4

XXXX

Credit

Income - Insufficient Documentation

XXXX

The borrower's income was documented with XXXX months of business bank statements for XXXX self-employed businesses. The investor guidelines required the ownership percentage of each business to be documented via CPA letter, Operating Agreement or equivalent. The required documentation was not provided to support the ownership interest in XXXX or XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
% of ownership

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2210571

3 of 4

XXXX

Credit

Verification Documentation - VOE Self-Employed/Missing

XXXX

The borrower's income was documented with XXXX month of bank statements from XXXX separate businesses. The investor guidelines required an interest search of each business with documentation to be included in the credit file to support the Business Narrative. Underwriter certification or notation on the XXXX if there are not returns when attempting an internet search. Required research for XXXX, XXXX and XXXX was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
business existence

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2210571

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2213851

1 of 5

XXXX

Compliance

State Regulations

XXXX

This loan has a prepayment term. (XXXX. Comp. XXXX §438.31c(XXXX)(c) Under XXXX. Comp. XXXX §438.31c(XXXX)(c), a loan secured by a single-family dwelling unit shall not charge a prepayment fee or penalty in excess of XXXX% of the amount of any prepayment made within XXXX years of the date of the loan, or any prepayment fee or penalty at all thereafter, or prohibit prepayment at any time.

Acknowledged

XXXX

2213851

2 of 5

XXXX

Compliance

State Testing - Late Fees Test

XXXX

This loan failed the late fees test. The loan has late fees that do not conform to the requirements for the lender's license type in the state where the property is located. The state regulation of XXXX allows for a maximum XXXX% late fee, the loan has a XXXX% late fee. The loan fails the late fees test by XXXX%.

Acknowledged

XXXX

2213851

3 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The loan file contained a lender exception for property type. The subject project was a non-warrantable project and did not meet the non-warrantable project guidelines due to the borrower being the builder/developer and still in control of the HOA, the single entity ownership requirement of XXXX% was exceeded as the borrower currently owns XXXX% of the completed units and XXXX% of the total proposed units, the subject project was not complete as required as only XXXX of XXXX units have been completed, and the investor concentration is currently XXXX% which exceeds the maximum of XXXX%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Investor provided an exception for this loan. Please have condition cleared.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating factors: XXXX% LTV, experienced investor, DSCR XXXX.

XXXX

2213851

4 of 5

XXXX

Credit

Title Report - Lien Position

XXXX

The title commitment does not confirm first XXXX position. The Title Commitment in file for the subject property reflected XXXX existing liens in the amount of $XXXX, $XXXX, and $XXXX, and the loan file did not contain any evidence the above referenced liens were paid off and satisfied as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Email from title confirming all liens were paid off and new mortgage is in first XXXX position.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2213851

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supported the appraisal.

Cleared

XXXX

2207203

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207203

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The subject is a cash out refinance with an LTV of XXXX%. The investor guidelines required all cash out refinances with LTV greater than XXXX% to be enrolled in XXXX Payments. The Automatic Payment Enrollment Form was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
ACH

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207203

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2213852

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213852

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213852

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2207118

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207118

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207118

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2213891

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213891

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213891

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraisal value.

Cleared

XXXX

2207119

1 of 4

XXXX

Compliance

HUD1 - Incomplete

XXXX

The settlement statement is either incomplete or incorrect. Page XXXX of Settlement statement is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
CD

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2207119

2 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: An XXXX to Note for prepayment penalty was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
PPP that is with the original collateral

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2207119

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207119

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2213853

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213853

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The loan file is missing the required Articles of Organization for the borrowing entity known as XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
borrowing entity was originally: XXXX then switched to XXXX, then renamed to XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2213853

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2213854

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213854

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213854

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2207122

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207122

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207122

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraisal value.

Cleared

XXXX

2213892

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213892

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

XXXX

2213892

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2213893

1 of 3

XXXX

Compliance

HUD1 - Missing (All)

XXXX

There is no evidence of a HUD-XXXX Settlement Statement provided in the loan file. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8(a)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CD

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2213893

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

XXXX

2213893

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2213894

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: the Prepayment Note Addendum is missing page XXXX from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPP addendum

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2213894

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

XXXX

2213894

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2207124

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Borrower signature date is missing.

Acknowledged

XXXX

2207124

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207124

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2216580

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216580

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216580

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216581

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216581

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216581

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2182368

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The loan is a XXXX year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2182368

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2182368

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2201612

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2201612

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201612

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2201615

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201615

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201615

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206943

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2206943

2 of 3

XXXX

Credit

Income - Missing or Incomplete Lease Agreement

XXXX

Missing Lease agreement or not complete per guidelines. The loan file is missing the signed lease agreement for the property located at XXXX, XXXX XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached is the property manager&#XXXX;s confirmation that XXXX was vacant at the time of closing.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206943

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs dated XX/XX/XXXX - XX/XX/XXXX, which support the original appraised values.

Cleared

XXXX

2187167

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2187167

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2187167

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2201610

1 of 5

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2201610

2 of 5

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The loan file is missing the first four pages of the Operating Agreement for the entity known as XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Full Operating Agreement attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2201610

3 of 5

XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Flood cert attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2201610

4 of 5

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with sufficient coverage/replacement cost.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
EOI attached for the subject property showing coverage of $XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2201610

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2204749

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2204749

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204749

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2206942

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX, however the mortgage lists XXXX A deed transferring ownership interest from XXXX, to XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Quit Claim deed signed at closing attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206942

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206942

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2216527

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216527

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216527

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraisal value.

Cleared

XXXX

2204748

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2204748

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204748

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2204745

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2204745

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204745

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2201619

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2201619

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201619

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2210692

1 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2210692

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is/are incomplete: the Condo Rider is not signed by the borrower.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Executed condo rider attached (please ignore this attachment on the other exception for this loan it was uploaded incorrectly).

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2210692

3 of 4

XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters for Property Type. Per program guidelines, when a DSCR loan has a DSCR Ratio between XXXX - XXXX, the only eligible property type is a XXXX-XXXX unit property. The subject property is a Condo, with a DSCR of XXXX, Condos are marked as N/A on the XXXX matrix for properties between XXXX-.XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Executed condo rider attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Condition approved in XXXX by XXXX. Approval attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Condo is ineligible. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. Experienced Investor. XXXX months of reserves.

XXXX

2210692

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2201616

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2201616

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201616

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2201617

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2201617

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201617

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2201618

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2201618

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201618

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2216533

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216533

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

All loans must establish an escrow account at time of closing in accordance with the guidelines. Review of the HUD statement does not reflect escrows.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find the attached showing taxes and insurance were escrowed for on lines XXXX and XXXX. Also attached is the IEAD form showing the initial escrow account had $XXXX deposited into it on XX/XX/XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216533

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2201613

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201613

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201613

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2201614

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201614

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201614

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216523

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2216523

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The loan file is missing the signed XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX agreement is attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216523

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2216524

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2216524

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216524

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2216525

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2216525

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216525

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2201611

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2201611

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201611

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs, dated XX/XX/XXXX and XX/XX/XXXX which support the appraised values.

Cleared

XXXX

2206945

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206945

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206945

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraisal value.

Cleared

XXXX

2216529

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216529

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216529

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2216532

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216532

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines for the Borrower/Guarantor to include a criminal check..

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX check attached. Alternate report was provided to show lone judgment against the borrower was no longer active at the time of closing.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216532

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. Secondary appraisal review product not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Secondary review report attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216530

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216530

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216530

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2216528

1 of 3

XXXX

Compliance

Disclosures Federal - Late

XXXX

There is no evidence in the loan file the Notice of Flood was received by the borrower no later than XXXX calendar days before closing.

Acknowledged

XXXX

2216528

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216528

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2216531

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216531

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216531

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report XX/XX/XXXX which supports the original appraisal value.

Cleared

XXXX

2207075

1 of 5

XXXX

Compliance

TRID - Closing Disclosure/Missing

XXXX

There is no evidence of a complete, Closing Disclosure provided in the loan file. As a result the following reviews could not be performed: TILA Accuracy, MDIA, XXXX, XXXX, QM XXXX, XXXX, XXXX, tolerance violation review, and final Closing Disclosure accuracy. Truth in XXXX (Regulation Z) 12 CFR 1026.19(f)(1)(i)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
updated exempt tape has been loaded.

Response 1 (XX/XX/XXXX XX:XXPM)
According to the XXXX provided, the loan was originated as Non-QM. A Non-QM loan is considered a TRID loan. If the loan is instead XXXX from QM, please provide an updated XXXX re-designating the loan as Exempt. Non-QM and Exempt are not synonymous. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Based on the new data tape provided, the loans was originated as Exempt and is sufficient to clear the finding. (Resolved)

XXXX

2207075

2 of 5

XXXX

Compliance

TRID - Loan Estimate/Missing

XXXX

There is no evidence of a complete Loan Estimate provided in the loan file. As a result testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
credit memo attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
updated exempt tape has been loaded.

XXXX

2207075

3 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The Lender's guidelines state that if the executed lease agreement reflects a higher monthly rent that is no greater than XXXX% more than market rent, it may be used in the calculation when evidence of receipt of the higher amount for the XXXX most recent, consecutive months. The lease agreement reflects a monthly amount of $XXXX. The Lender at origination used $XXXX to calculate market rent (XXXX (market) * XXXX%). Despite this requirement, the loan file does not contain evidence of the XXXX most recent consecutive months. Without this evidence the market rent to calculate the DSCR should be $XXXX, which then makes the DSCR XXXX, which is not allowed for a cash out refinance.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Lease is not effective until XXXX/XXXX. It is guaranteed by the XXXX authority through affordable housing program

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207075

4 of 5

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207075

5 of 5

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207078

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207078

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. Guidelines require a background/fraud report including criminal search for all borrowers. The background check wasmissing from the loan file for the borrowing entity XXXX and guarantor XXXX. While the loan file contained a Drive report, a criminal search result was not present for the guarantor and no report for the entity was present in the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background reports attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207078

3 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. A certificate ofgood standing was missing from the loan file for the borrowing entity XXXX, LLC.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Cert of good standing attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207078

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2207077

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207077

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Final application attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207077

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2207076

1 of 6

XXXX

Compliance

HOC - Missing

XXXX

The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Based on the new data tape provided, the loans was originated as Exempt and is sufficient to clear the finding. (Resolved)

XXXX

2207076

2 of 6

XXXX

Compliance

Initial Escrow Statement - Missing

XXXX

The Initial Escrow Account Statement is missing from the file. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.17(g), (h)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Exempt

Response 1 (XX/XX/XXXX XX:XXPM)
Based on the new data tape provided, the loans was originated as Exempt and is sufficient to clear the finding. (Resolved)

XXXX

2207076

3 of 6

XXXX

Compliance

TRID - Closing Disclosure/Missing

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
updated to exempt tape has been loaded.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
updated tape loaded sorry for that.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
tape has been reloaded 12918_updated.

Response 1 (XX/XX/XXXX XX:XXPM)
Updated data tape received, however for this loan, there was no QM status listed. Please resubmit QM status on this loan. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The referenced Updated data tape was not received for this loan. Please resubmit QM status on this loan. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Based on the new data tape provided, the loans was originated as Exempt and is sufficient to clear the finding. (Resolved)

XXXX

2207076

4 of 6

XXXX

Compliance

TRID - Loan Estimate/Missing

XXXX

There is no evidence of a complete Loan Estimate provided in the loan file. As a result testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX

Resolved

XXXX

2207076

5 of 6

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207076

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210613

1 of 5

XXXX

Compliance

TRID - Closing Disclosure/Missing

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
updated to exempt data tape has been loaded.

XXXX

2210613

2 of 5

XXXX

Compliance

TRID - Loan Estimate/Missing

XXXX

There is no evidence of a complete Loan Estimate provided in the loan file. As a result testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
credit memo attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
updated to exempt data tape has been loaded.

XXXX

2210613

3 of 5

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final application attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210613

4 of 5

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The Lender's guidelines state the maximum LTV of a Purchase with a FICO of XXXX is XXXX%. The subject loan was approved and closed with an LTV of XXXX%.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
approval is clearly provided in email chain please see highlighted.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
Updated guidelines provided.

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX chain does not contain Investor exception. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210613

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2204742

1 of 5

XXXX

Compliance

Flood Insurance Required

XXXX

The property is in a flood zone and the flood notice provides no evidence it was received by the borrower at least XXXX days prior to closing.

Acknowledged

XXXX

2204742

2 of 5

XXXX

Compliance

TRID - Closing Disclosure/Missing

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
updated to exempt tape has been loaded.

XXXX

2204742

3 of 5

XXXX

Compliance

TRID - Loan Estimate/Missing

XXXX

There is no evidence of a complete Loan Estimate provided in the loan file. As a result testing for timing and tolerance could not be completed. CFPB Title XXXX, Part XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
credit memo attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
updated to exempt tape has been loaded.

XXXX

2204742

4 of 5

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
signed application attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204742

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2204741

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204741

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204741

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDAs dated XX/XX/XXXX, which support the original appraised values.

Cleared

XXXX

2207080

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207080

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207080

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2207079

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: the Loan Agreement page XXXX is not initialed by the borrower.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full signature page attached.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2207079

2 of 3

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final app attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207079

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2204743

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204743

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The Lender's guidelines require an Employer Identification Number (EIN) Verification Form. Despite this requirement, the EIN is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see EIN doc.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204743

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2216175

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216175

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216175

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX.

Cleared

XXXX

2216177

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216177

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216177

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2203643

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2203643

2 of 4

XXXX

Credit

Appraisal - Appraisal Missing

XXXX

The appraisal is provided in the file; however, an email found from XXXX indicated that the appraisal arrived at market rent of $XXXX but the market rent schedule provided does not reflect $XXXX. The market rent schedule reflecting $XXXX is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached, see page XXXX for rent schedule

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See attached email from UW explaining what occurred with the market rent in the appraisal. XXXX report and lease also attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Please clarify why the market rent is reflected at $XXXX per month as opposed to the $XXXX per month indicated. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Explanation and documentation received is sufficient. (Resolved)

XXXX

2203643

3 of 4

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

A satisfactory mortgage payment history for the mortgage paid off at closing with XXXX is missing from the file.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
A VOM was not required for this loan due to no red flags reported on the payoff. Per guidelines, PPF only requests a VOM if there are late payments, unpaid charges or default interest reported on the payoff. None were reported in this case so VOM was not required.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
XXXX does not require VOMs, per our guidelines that were created by our COO, unless there are late payments. It is our understanding that XXXX#XXXX;s guidelines are non-existent in DR and should not be upheld unless they are showing an overlay we are not aware of.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
See attached GL exception approval from investor

Response 1 (XX/XX/XXXX XX:XXAM)
A mortgage history is required on the subject property being refinanced. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Unable to determine if there are late payments without a mortgage history. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. XXXX DSCR.

XXXX

2203643

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2203646

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX-month prepayment term, the loan has a XXXX-month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2203646

2 of 3

XXXX

Credit

Appraisal - Other

XXXX

The appraisal indicates the subject zoning compliance as Legal-Nonconforming; however, the file is missing verification by the city to rebuild, as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
This part of the appraisal was not mentioned during the prefund review. Please see attached email from the UW on this file.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please see attached updated appraisal with rebuild language included. Email from UW also provides location and language within the appraisal document.

Response 1 (XX/XX/XXXX XX:XXAM)
Regardless of any prior reviews, the current review requires rebuild verbiage due to legal non-conforming zoning. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2203646

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA, dated XX/XX/XXXX, that supports the value.

Cleared

XXXX

2216534

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216534

2 of 3

XXXX

Credit

Assets - Minimum Reserves

XXXX

Per Lender's guides, the borrower is required to verify XXXX months reserves or $XXXX. The borrower verified $XXXX, which includes funds received at closing of $XXXX. Therefore, the borrower is short verified reserves of -$XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The property had an active lease at the time of closing, required reserves should be XXXX months at $XXXX which is sufficient to cover reserves needed. Docs attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See attached for GL exception approval.

Response 1 (XX/XX/XXXX XX:XXAM)
Investor matrix requires XXXX months of reserves. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: experienced investor, XXXX% LTV

XXXX

2216534

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2203648

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2203648

2 of 3

XXXX

Credit

DSCR - Missing HUD

XXXX

The HUD reflects an incorrect monthly escrow amount collected for taxes. The HUD reflects $XXXX per month; however, the correct amount is $XXXX (semi annual vs quarterly). DSCR was calculated on the correct monthly amount.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Taxes are paid quarterly. See email from PPF closing department detailing the breakdown. Tax certificate and title commitment are attached for reference.

Response 1 (XX/XX/XXXX XX:XXAM)
Taxes are the higher amount. Borrower still qualifies with a XXXX DSCR. (Resolved)

XXXX

2203648

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The file contains a CDA, dated XX/XX/XXXX, that does not support the value (XXXX% variance). LTV based on lower CDA value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
PPF SVP of Valuations reviewed the XXXX report and provided this rebuttal: The subject property is located in an atypical location backing to XXXX on an acre size parcel. Subject property is in C3 condition. Based on additional review the value is closer to the XXXX report conclusion of $XXXX than the appraisal report conclusion of $XXXX. Support is given to the $XXXX at the upper end of the range.

Response 1 (XX/XX/XXXX XX:XXAM)
LTV qualifies on lower CDA value. Downgraded to EV2. (Resolved)

XXXX

2203645

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2203645

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The guidelines require that C4 condition for Rental loans are only eligible for Purchase, Rate & Term, and Delayed Purchase transactions. The appraisal for the subject property reflects the condition to be rated Average; however, the CDA dated XX/XX/XXXX reflects the condition rating to be C4. According to the subject transaction HUD-XXXX settlement statement the subject transaction is a cash-out refinance with the borrower receiving $XXXX cash at closing. According to the HUD-XXXX settlement statement from the purchase of the subject, the property was acquired on XX/XX/XXXX. As the subject transaction is a cash-out refinance with a C4 condition rating, the transaction is not allowed. Further, the appraisal should be corrected to include the condition rating. Noted, same finding made on prefund review.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached guideline approval from investor

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% LTV. XXXX DSCR.

XXXX

2203645

3 of 4

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. Noted, prefund review file policy reflected endorsement (DS XXXX XXXX XXXX XXXX XXXX) which confirmed all perils coverage. This information is missing in the post fund review policy.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached email from insurance agent confirming.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2203645

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2203644

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2203644

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. XXXX in file as the subject loan does not meet Program Parameters for Property Condition. The Origination Appraiser indicated the subject property condition is C4 and the subject transaction is a Cash Out Refinance which is not allowed. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached GL exception approved by XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX months reserves when XXXX months required; owns primary XXXX years and subject since XXXX.

XXXX

2203644

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213748

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213748

2 of 4

XXXX

Credit

Appraisal - Other

XXXX

Guidelines require properties with a condition rating of C4 must becomparable to the current market with similar C4 conditioned properties. The appraisal reflects a condition rating of C4 for the subject property and XXXX of the XXXX comparable sales used are classified as XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached GL exception approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Comp Factors - XXXX months reserves and XXXX

XXXX

2213748

3 of 4

XXXX

Credit

Appraisal - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for property condition. The guidelines require that C4 condition for Rental loans are only eligible for Purchase, Rate & Term, and Delayed Purchase transactions. The appraisal for the subject property reflects the condition to be rated C4. As the subject transaction is a cash-out refinance with a C4 condition, the transaction is not allowed. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached GL exception approval.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Comp Factors - XXXX months reserves and XXXX

XXXX

2213748

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213741

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213741

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213741

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA dated XX/XX/XXXX which supports appraised value.

Cleared

XXXX

2203647

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment term test. The loan has a prepayment term that does not conform to the requirements for the lender's license type in the state where the property is located. Per XXXX 1343.011(C)(2)(b), loan amounts equal to or greater than $XXXX (XXXX-XXXX units), prepayment penalty XXXX is XXXX% and XXXX years. This loan has a prepayment penalty of XXXX% for XXXX year.

Acknowledged

XXXX

2203647

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current hazard insurance policy on the subject property with perils coverage and increased premium. The file contains an email from the insurance company stating that an updated EOI will all perils coverage and a new annual premium of $XXXX was being provided. This policy is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached all perils dec page (policy was updated to all perils prior to closing) with the $XXXX premium.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2203647

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain a CDA, XXXX, or AVM by XXXX to support the origination appraised value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2213742

1 of 4

XXXX

Compliance

Note - Name Discrepancy

XXXX

The subject loan is an Entity; however, the referenced Loan Agreement was signed as an individual and a member.

Acknowledged

XXXX

2213742

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following sections of the Security Instrument (Mortgage/Deed of Trust) are incomplete: The date the borrower signed is missing on page XXXX of XXXX of the Security Instrument and on the following riders: XXXX-XXXX Family, PUD, Prepayment and Business Purpose and Environmental.

Acknowledged

XXXX

2213742

3 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background report is missing for the guarantor XXXX and the entity XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached background report for CSTAT-XXXX. Regarding the report for XXXX, please see attached email from Underwriting stating that she did not need to sign the docs and is not a guarantor so a background check was not required per guidelines.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX signed the Guaranty as Spouse, but she is also a XXXX% owner. She is a guarantor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2213742

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213743

1 of 4

XXXX

Compliance

Note - Name Discrepancy

XXXX

The subject borrower is an Entity; however, the referenced loan agreement was signed as a member and as an individual.

Acknowledged

XXXX

2213743

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

Acknowledged

XXXX

2213743

3 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background report is missing for the guarantor XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See attached email from XXXX stating that since XXXX only had XXXX% ownership of the entity, she did not need to sign the loan docs and be a guarantor.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See attached

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX signed the Guaranty as Spouse, but she is also a XXXX% owner. She is a Guarantor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2213743

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213744

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213744

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background report is missing for the guarantor XXXX.

Resolved

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX signed the guaranty as Spouse, but she is also a XXXX% owner. She is a Guarantor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2213744

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213745

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213745

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background report is missing for the guarantor XXXX.

Resolved

XXXX

2213745

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213746

1 of 4

XXXX

Compliance

Note - Signature Discrepancy

XXXX

The subject loan is an Entity; however, the referenced Loan Agreement was signed as an individual and a member.

Acknowledged

XXXX

2213746

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

Acknowledged

XXXX

2213746

3 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background report is missing for the guarantor XXXX.

Resolved

XXXX

2213746

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213747

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213747

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background report is missing for the guarantor XXXX.

Resolved

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX signed the guaranty as Spouse, but she was also a XXXX% owner. She is a Guarantor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2213747

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213750

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment penalty test. XXXXXXX § 1343.011(C)(1)). The loan has a prepayment term that does not conform to the requirements for the lender's license type in the state where the property is located. Per XXXX 1343.011(C)(2)(b), loan amounts equal to or greater than $XXXX (XXXX-XXXX units), prepayment penalty XXXX is XXXX% and XXXX years.

Acknowledged

XXXX

2213750

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213750

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2213749

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2213749

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213749

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2203649

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2203649

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2203649

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2209701

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2209701

2 of 3

XXXX

Credit

Income - Rental Property/Missing Lease

XXXX

Guidelines require a fully executed lease. The lease provided in the file is missing the landlord's signature (vesting entity).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached executed lease with landlord&#XXXX;s signature.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2209701

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. File contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216535

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216535

2 of 3

XXXX

Credit

Borrower - Ineligible borrower

XXXX

Does not meet eligible borrower requirements per guidelines. Borrower is a Foreign National, which is not permitted under overlay guidelines , however all lender requirements are in place.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PPF guidelines state that non-permanent residents are eligible for DSCR loans. Borrower has a visa that expires in XXXX and a passport that expires in XXXX. See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216535

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2213752

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213752

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213752

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2213751

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213751

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213751

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file does not contain a secondary valuation product.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204771

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2204771

2 of 4

XXXX

Compliance

State HPML

XXXX

This loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a))Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2204771

3 of 4

XXXX

Credit

Debts - Not Verified

XXXX

The application lists significant debts that were not verified on the credit report and not independently verified. The loan application reflects an additional other debt in the amount of $XXXX per month. There is no explanation or documentation in the loan file for this debt; therefore, the debt cannot be verified. Further, the additional REO located at XXXX is located on the same street as the subject property. The subject property is located in a planned unit development (PUD) having HOA dues monthly; however, the loan file contains no evidence of the HOA dues for the additional REO.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX and other docs to clear condition

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Docs for Condition

Response 1 (XX/XX/XXXX XX:XXAM)
HOA provided. Still missing documentation of $XXXX monthly debt. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204771

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2213855

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213855

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213855

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2213856

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Missing notary acknowledging the borrower(s) under the Security Instrument.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
DOT w. notary

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2213856

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213856

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206822

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206822

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Lender did not account for $XXXX in Annual School taxes. When including tax into PITI, DCSR income ratio decreases to .XXXX. Per guidelines, XXXX on a Cashout Refi with DCSR ratio greater than or equal to .XXXX and less than or equal to XXXX is XXXX%, making the transaction ineligible due to XXXX% LTV.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The school taxes are included under ISDTax/Other tax.

Response 1 (XX/XX/XXXX XX:XXAM)
DR agrees. School taxes are included in total tax. Finding voided. (Void)

XXXX

2206822

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2207230

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207230

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Still missing credit report and photo XXXX for XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207230

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10%, and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports value. CDA did not support original appraised value within -XXXX% but client guidelines allow the lower of the valuation value to be used. Per the rating agencies this is allowed but would be an EV2 grade.

Cleared

XXXX

2206821

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206821

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206821

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2206820

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206820

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Per the guidelines a background check that includes a search for liens of judgments is required for the Entity. The required background check for entity XXXX. XXXX is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206820

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a XXXX search of the borrower and entity. The required XXXX searches are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX search

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206820

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206819

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206819

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Per the guidelines a background check that includes a search for liens of judgments is required for the Entity. The required background check for entity XXXX N. XXXX is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206819

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the guidelines the underwriter is required to perform a XXXX search of the borrower and entity. The required XXXX searches are missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX search

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206819

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207229

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207229

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. Missing required business documentation per guidelines. Per guidelines, a XXXX search on entity and borrowers must be performed. The file did not contain a XXXX search.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXAM)
Still missing XXXX search for XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207229

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2206818

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206818

2 of 5

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. XXXX, XXXX Fee. However, these fees sould not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2206818

3 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the addition of the following fees was not accepted: Survey Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PLEASE SEE ATTACHED LOE AND CD

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206818

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206818

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206817

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2206817

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206817

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The loan file did not contain a CDA, Field Review, or 2nd Appraisal to support the origination appraised value. The loan file did not contain a CDA and the CU score is over XXXX. The CU score XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PLEASE REVIEW THE FIELD REVIEW

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207228

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2207228

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207228

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX6, which supports the appraised value.

Cleared

XXXX

2196027

1 of 6

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The number of grace period days is missing from Section 6 (Late Charge) of the Note.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
corrected doc

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2196027

2 of 6

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The loan file did not contain a background report to include a judgment and XXXX search for the borrowing entity, XXXX, as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
llc background

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2196027

3 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The loan file did not contain a XXXX search for the borrowing entity, XXXX, as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
entity search

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2196027

4 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guides require a Property Management Agreement between the borrower and the Property Manager when a XXXX acts as the agent for the property owner. The loan file is missing the required Property Management Agreement for the property manager reflected on the subject lease.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Property Management Agreement provided.

Response 1 (XX/XX/XXXX XX:XXPM)
Document received is sufficient. (Resolved)

XXXX

2196027

5 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per guidelines, all guarantors must provide a limited application (name, address, date of birth, social security number and citizenship status), a credit and background report meeting the minimum credit score requirements, and valid identification. The loan did not contain any of the required documentation for the non-borrowing guarantor XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2196027

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216512

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216512

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216512

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206816

1 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: Loan Agreement Exhibit B is missing the signature by the managing member.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
SEE ATTACHED EXHIBIT B

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206816

2 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The borrower is an entity. The borrower’s name does not include their title, however the entity name and “By” is included bringing this to an EV2 exception. These documents include XXXX XXXX, PPP and Loan Agreement Pg XXXX.

Acknowledged

XXXX

2206816

3 of 5

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The borrower is an entity. The borrower’s name does not include their title, however the entity name and “By” is included bringing this to an EV2 exception. These documents include the Mortgage Pg XXXX and XXXX-XXXX Rider Pg XXXX.

Acknowledged

XXXX

2206816

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206816

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206815

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206815

2 of 3

XXXX

Credit

Debts - Not Verified

XXXX

The application lists significant debts that were not verified on the credit report and not independently verified. The loan application reports the total housing expense for borrower's departing residence $XXXX. There is a VOM in the loan file that verifies the P&I payment of $XXXX and a property profile report to verify the property taxes however the HOI policy is missing from the loan file. The current HOI policy for property XXXX is required to verify the total housing expense for this property.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please review the LOE, VOM and HOI for property XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206815

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206814

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206814

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The signed XXXX was not executed by a member of the entity, XXXX with XXXX% ownership. The Guaranty Agreement located in the loan was signed by borrower XXXX, XXXX with XXXX% ownership and borrower XXXX, XXXX with XXXX% ownership of XXXX.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guaranty agreement signed correctly. please advise

Response 1 (XX/XX/XXXX XX:XXAM)
Agree. Both owners of the LLC signed the Guaranty Agreement. Finding voided. (Void)

XXXX

2206814

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206813

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206813

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for " allow a rural property and XXXX or XXXX comparable properties are more than XXXX miles from the subject property ." Determined non-material based on compensating factors. (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors. (Waived)

comp factors XXXX XXXX XXXX plus active trade lines

XXXX

2206813

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216470

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216470

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport for all guarantors. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Why is guarantor information required for spouse? The borrower is XXXX% owner of LLC.

Response 1 (XX/XX/XXXX XX:XXAM)
DR agrees. The guarantor information is not required when the XXXX is signed by a spouse with no ownership in the LLC. Finding voided. (Void)

XXXX

2216470

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206812

1 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The loan agreement is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
SEE ATTACHED XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206812

2 of 5

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The notary did not acknowledge if the borrower, XXXX, signed in physical presence or online notarization.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
SEE ATTACHED MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206812

3 of 5

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The notary did not acknowledge if the borrower, XXXX, signed in physical presence or online notarization as well as if the person was 'known' to them or provided 'identification'.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
SEE ATTACHED MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206812

4 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for "allow borrower to proceed at XXXX SF/ first time investor ." Determined non-material based on compensating factors. (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (Waived)

comp factors :excellent credit, excess reserves, XXXX

XXXX

2206812

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216509

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216509

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216509

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216469

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216469

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216469

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2207227

1 of 4

XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

The CD issued on XX/XX/XXXX date does not reflect the correct Loan Type. The Loan Type is reflected as Other; however, it should be Conventional. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(5)(iv)

Acknowledged

XXXX

2207227

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2207227

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

The loan file contains a lender exception to allow a borrower using asset qualifier income to proceed with a DTI greater than XXXX%. XXXX guidelines state the maximum DTI when using asset qualifier income is XXXX%. XXXX non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on comensating factors (Waived).

Compensating Factors: Borrower has a history of managing multiple pieces of real estate, her primary is a rental. XXXX score XXXX.

XXXX

2207227

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU XXXX.

Cleared

XXXX

2216467

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216467

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. XXXX, XXXX Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216467

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

XXXX provided to allow borrower to use self employment income with less than XXXX year history. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors.

Compensating Factors: XXXX, DTI less than XXXX%

XXXX

2216467

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206811

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206811

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206811

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score XXXX.

Cleared

XXXX

2206766

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206766

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206766

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2207226

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207226

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. Per guidelines, a XXXX search is to be done on entity and borrower. A search for either party was not in the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207226

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2206810

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206810

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206810

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2206809

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206809

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206809

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value .

Cleared

XXXX

2206808

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206808

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206808

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX

Cleared

XXXX

2211635

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The borrower did not acknowledge by initialing the Mortgage on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
pg XXXX of mortgage

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2211635

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The loan file is missing the required background check for the entity, XXXX, to include liens and judgments search. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
BACKGROUND

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211635

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206807

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: XXXX is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exhibit c

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206807

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206807

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2211643

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211643

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211643

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211642

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211642

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211642

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216507

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. There was a HUD printed on XX/XX/XXXX marked as final (page XXXX only). Pages XXXX and XXXX were printed days prior. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216507

2 of 3

XXXX

Credit

Appraisal - Other

XXXX

Subject is zoned legal non-conforming. Guideline requires that subject can be rebuilt if destroyed. Appraisal states that Under XXXX zoning, a non conforming structure may only be rebuilt to its current density if damage is XXXX% or less of replacement cost, and the restoration does not increase any existing nonconformities. If damage exceeds XXXX%, the structure cannot be rebuilt as a multi family and must conform to current zoning density requirements. The subject is currently a XXXX family unit and could only be rebuilt as single family if completely destroyed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
I would like to request that the appraisal/zoning condition be revisited and wanted to provide some additional context regarding the statement that the property could only be rebuilt as a single-family residence if completely destroyed. According to XXXX current Zoning Code, the situation does not appear to be quite that restrictive. The current Code presents a zoning/entitlement issue with a defined variance pathway, rather than an absolute prohibition against seeking to restore the existing two-family use. The property is an existing legal two-family dwelling. Under the current XXXX zoning regulations, if a significant loss were to trigger the nonconforming-use provisions, there is a Use Variance process through the XXXX that provides a legal pathway to seek restoration of the two-family use. Accordingly, we believe the current Code does not categorically limit the property to single-family reconstruction and that the existing variance provisions should be considered when evaluating the appraisal condition.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Documentation uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Please provided documentation from XXXX Chapter XXXX Zoning for review of XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2216507

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206806

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206806

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The loan file is missing a Guaranty Agreement for the subject transaction.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guaranty

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206806

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The loan file is missing a final or estimated Closing Disclosure and/or HUD-XXXX for the subject transaction.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
final HUD

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
I have attached the final HUD. We have purchase priceof $XXXX. We also have Assignment fees in the amount of $XXXX.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
The guideline specifically states that when the assignment fee is charged on the settlement statement, the purchase price is the purchase price plus the assignment fee. The HUD reflects a $XXXX purchase price plus a $XXXX assignment fee, for a total purchase price of $XXXX. We do not see language in the guideline stating that any portion of an assignment fee exceeding the XXXX% cap must be deducted from the purchase price for purposes of calculating LTV. Please provide the guideline supporting the use of $XXXX as the purchase price rather than the $XXXX purchase price reflected by the transaction.

Rebuttal 4 (XX/XX/XXXX XX:XXPM)
Please see attached exception to allow the use of the full assignment fee.

Rebuttal 5 (XX/XX/XXXX XX:XXPM)
Please see credit exception attached.

Rebuttal 6 (XX/XX/XXXX XX:XXPM)
Exception provided.

Response 1 (XX/XX/XXXX XX:XXPM)
The purchase price was $XXXX as opposed to $XXXX. The LYV was XXXX%. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Purchase price $XXXX + assignment fee $XXXX = $XXXX. Per the guidelines, the assignment fee is capped at the lesser of XXXX% of the purchase price or $XXXX. Subject purchase price is $XXXX + $XXXX (XXXX% of sales price) = $XXXX. Using maximum sales price of $XXXX, LTV is XXXX%. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
The guidelines state there is a cap on the amount of assignment fee that can be charged. In this case, the maximum allowed would be XXXX% of the purchase price, which is $XXXX. Even though the assignment fee is $XXXX, this exceeds the maximum allowed per the guidelines. Therefore, the maximum assignment fee to be added to the sales price would be $XXXX. Total price to use for LTV calculation would be $XXXX ($XXXX sales price plus $XXXX assignment fee). (XXXX)

Response 4 (XX/XX/XXXX XX:XXPM)
Exception not received. (XXXX)

Response 5 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: DSCR XXXX%, DTI score XXXX, reserves $XXXX

XXXX

2206806

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206805

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206805

2 of 3

XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206805

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2206804

1 of 7

XXXX

Compliance

TRID - 10% Tolerance Violation (Disclosure Timing Fail)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions and/or increases: Abstract / Title Search Fee $XXXX, Attorney's Fee (ClosingAgent Only) $XXXX, Closing Protection Letter Fee $XXXX, Courier / MessengerFee $XXXX, Lender's Title Insurance Policy $XXXX, Settlement or ClosingFee $XXXX, Title Document Preparation Fee $XXXX, Title Endorsement Fee $XXXX,Wire Transfer Fee $XXXX, Recording Fee $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206804

2 of 7

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit Report Fee, XXXX Review Fee. However, these fees should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2206804

3 of 7

XXXX

Compliance

TRID - Initial LE/Delivery Date (from application)

XXXX

The loan failed the Initial Loan Estimate delivery date test (from application). The Initial LE issued on XX/XX/XXXX was not disclosed within XXXX days of the application date, XX/XX/XXXX. Truth in XXXX (Regulation Z) 12 CFR 1026.19(e)(1)(iii)(A)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached LE

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206804

4 of 7

XXXX

Compliance

TRID - Initial LE/Delivery Date (prior to consummation)

XXXX

The loan failed the Initial Loan Estimate delivery date test (prior to consummation). The Initial LE issued on XX/XX/XXXX is less than seven business days before the Consummation Date, XX/XX/XXXX. Truth in XXXX (Regulation Z) 12 CFR 1026.19(e)(1)(iii)(B)

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206804

5 of 7

XXXX

Compliance

TRID - Zero Tolerance Violation (Disclosure Timing Fail)

XXXX

The loan failed the charges that cannot increase test. Because the loan failed the Initial LE date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions and/or increases: Points - Loan Discount Fee $XXXX, Underwriting Fee $XXXX, Appraisal Fee $XXXX, XXXX Fee $XXXX, Appraisal Review Fee $XXXX, Credit Report Fee $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206804

6 of 7

XXXX

Credit

Program Parameters - Other

XXXX

The loan filecontains a lender exception to allow the borrower with only one year five months of self-employment in the current business and XXXX years in the same industry. XXXX guidelines require XXXX years of self-employment history in the same business is required. XXXX non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: Borrower has lived in primary for XXXX plus years, borrower has disposable income that exceeds $XXXX. a month, and borrowers fico score is XXXX.

XXXX

2206804

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206803

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206803

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206803

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2199552

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2199552

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per XXXX Statute S.B. 4D for all XXXX condo projects XXXX stories or more, XXXX years or older or XXXX years and older if within XXXX miles of coast a Structural Inspection is required. Structural inspection missing from file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Structural Report

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Full Reserve Study based on an on-site inspection performed XXXX.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Please see the attached building recertification letter from XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
No-Site Review is not sufficient. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The full visit reserve study from XXXX reflected future anticipated repairs were XXXX% underfunded. Strength was defined as Weak. Risk was defined as High. The updated no-site visit reserve study from XXXX reflected future anticipated repairs were XXXX% underfunded, XXXX was defined as Weak. Risk was defined as High. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2199552

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2199551

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: XXXX is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exhibit C

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2199551

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Response 1 (XX/XX/XXXX XX:XXAM)
No-Site Review is not sufficient. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The full visit reserve study from XXXX reflected future anticipated repairs were XXXX% underfunded. Strength was defined as Weak. Risk was defined as High. The updated no-site visit reserve study from XXXX reflected future anticipated repairs were XXXX% underfunded. Strength was defined as Weak. Risk was defined as High. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2199551

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value

Cleared

XXXX

2199550

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2199550

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Response 1 (XX/XX/XXXX XX:XXAM)
No-Site Review is not sufficient. (Resolved)

Response 2 (XX/XX/XXXX XX:XXAM)
The full visit reserve study from XXXX reflected future anticipated repairs were XXXX% underfunded. Strength was defined as Weak. Risk was defined as High. The updated no-site visit reserve study from XXXX reflected future anticipated repairs were XXXX% underfunded. Strength was defined as Weak. Risk was defined as High. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2199550

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207225

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207225

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. Background check missing for XXXX XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207225

3 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. Per guidelines, a XXXX search was to be performed on borrower. XXXX search was not documented in file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207225

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2207224

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207224

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. Missing background check per guidelines. Background check missing for XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207224

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2206802

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206802

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206802

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value

Cleared

XXXX

2207223

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207223

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Borrower must show a history of owning and managing a minimum of XXXX vacation rental in the same short term rental market for at least XXXX months in the last XXXX months. Lender exception provided. XXXX non-material based on compensating factors. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (Waived)

compensating factors: FICO score is greater than XXXX, excess reserves

XXXX

2207223

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206801

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206801

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206801

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207207

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207207

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207207

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207222

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207222

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207222

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied.The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207209

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207209

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided as borrower is XXXX weeks short of XXXX full year of experience owning XXXX+ unit property . XXXX non material based on compensating factors. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non material based on compensating factors. (Waived)

Compensating factors: FICO score is greater than XXXX, XXXX+ active tradelines (no derogatory credit).

XXXX

2207209

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206800

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206800

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206800

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2211641

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211641

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The loan file contains a lender exception to allow a DTI of XXXX% and LTV of XXXX. XXXX guidelines state maximum DTi is XXXX% when LTV is greater than XXXX%. XXXX non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: XXXX score XXXX, the borrower has the same employment for XXXX plus years, borrower has disposable income that exceeds $XXXX. a month (Full doc only).

XXXX

2211641

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2211633

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211633

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for XXXX-XXXX unit, requires prior XXXX+ unit investment experience. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (Waived)

Compensating Factors: Assets exceed required reserves by XXXX months, DSCR greater than XXXX.

XXXX

2211633

3 of 4

XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211633

4 of 4

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The loan file did not contain a CDA, Field Review, or 2nd Appraisal to support the origination appraised value. The loan file contains a CDA; however, it is blank.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206799

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206799

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The entity background is missing liens and judgements.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206799

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport for all guarantors. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206799

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports appraised value.

Cleared

XXXX

2216500

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216500

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216500

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA which did not support the appraised value. The file also contained a Field Review Report which did support the appraised value. As the Field Review Report is a second valuation product, per the rating agencies, this is graded an EV2.

Cleared

XXXX

2206798

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206798

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The background is missing the liens and judgements.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206798

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216499

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216499

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The loan file contains a lender exception to allow borrower living rent free. XXXX guidelines require XXXX month housing history. XXXX non-material based on compensating factors (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors (Waived).

Compensating Factors: XXXX score is greater than XXXX, DSCR is greater than XXXX, and assets exceed required reserves by XXXX months.

XXXX

2216499

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206797

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206797

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Approved for rural property. Sales comps are within XXXX miles and rental comps are within XXXX miles. XXXX, XXXX is within XXXX miles. XXXX non-material based on compensating factors. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (Waived)

Compensating factors: Borrower has XXXX+ investment properties, XXXX+ active tradelines (no derogatory credit).

XXXX

2206797

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206796

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Clear to Close indicates that a Prepayment Penalty applies to this loan, however there is no Prepayment Addendum to the Note.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See the attached XXXX note

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. Pg.XXXX has provided but not appear to be the pg.XXXX in the file or detail terms of the PPP. Please provide entire document for review. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206796

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206796

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Appraisal - Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206795

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206795

2 of 3

XXXX

Credit

Flood Certificate - Missing

XXXX

The flood certificate is missing. The flood certificate is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
flood cert

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206795

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206794

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206794

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206794

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2206793

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206793

2 of 5

XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however, it should be Conventional. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(5)(iv)

Acknowledged

XXXX

2206793

3 of 5

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

Acknowledged

XXXX

2206793

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206793

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2211636

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211636

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised CD issued on XX/XX/XXXX. Credit and Data Services Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2211636

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211636

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2206792

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206792

2 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. Entity background check is missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206792

3 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. Per guidelines, a XXXX search on entity must be performed on the entity. The file did not contain a XXXX search.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX search

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206792

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2206791

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206791

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206791

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206790

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206790

2 of 3

XXXX

Credit

Program Parameters - Property Type

XXXX

The subject loan does not meet Program Parameters since property type is Rural property. XXXX non-material based on compensating factors. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (Waived)

Compensating factors: DSCR greater than XXXX, credit score is over XXXX

XXXX

2206790

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10%, and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206789

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206789

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206789

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10%, and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206788

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206788

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206788

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206787

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206787

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206787

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2207210

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207210

2 of 3

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

According to guidelines a XXXX-month payment history is required for the borrower's primary and subject. The loan file did not contain a mortgage payment history for the subject property.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207210

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216468

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Cleared

XXXX

2216468

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216468

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2216498

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216498

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216498

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value .

Cleared

XXXX

2206786

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206786

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2206786

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206786

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2206785

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The XXXX-XXXX Rider page XXXX is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
rider

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206785

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206785

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207221

1 of 3

XXXX

Compliance

TRID - CD - Loan Information/Loan Type

XXXX

The CD issued on XX/XX/XXXX does not reflect the correct Loan Type. The Loan Type is reflected as Other; however, it should be Conventional. Truth in XXXX (Regulation Z) 12 CFR 1026.38(a)(5)(iv)

Acknowledged

XXXX

2207221

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207221

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2206784

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206784

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206784

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains an AVM dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216497

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216497

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for "allow living rent free with girlfriend with no proof of XXXX months receipt of rent on subject." Determined non-material based on compensating factors. (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (Waived)

comp factors fico XXXX dscr over XXXX

XXXX

2216497

3 of 4

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Additional documents have been provided from insurance company.

Response 1 (XX/XX/XXXX XX:XXPM)
Since the agent will not confirm All Perils, they must confirm that the Policy is HO3. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient.(Resolved)

XXXX

2216497

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206783

1 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: XXXX is missing the borrowers signature.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exhibit b signed

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206783

2 of 5

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The loan file is missing the full background with liens and judgements.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206783

3 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors are required to provide a limited application which includes the name, address, date of birth, Social Security Number, and citizenship, authorization for a credit report and background report, with credit scores meeting the minimum qualifying score, and Identification documentation such as a driver's license or passport for all guarantors. The loan file did not contain any of the required documentation for the non-borrowing guarantor, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206783

4 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for " allow for a short prior investment property owned XXXX months in last XXXX months will own XXXX months on XX/XX/XXXX ." Determined non-material based on compensating factors. (Waived)

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors. (Waived)

comp factors FICO XXXX assets exceed required XXXX months

XXXX

2206783

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206782

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206782

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206782

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2206781

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206781

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. According to guideline all guarantors are required to provided a limited application which includes the name, address, date of birth, Social Security number and citizenship. Additionally, an authorization for a credit report and background report as well as Identification documentation such as a driver's license or passport are required for all guarantors. The loan file did not contain any of this documentation for the non-borrowing guarantor, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206781

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2207231

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207231

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guidelines requires guarantors to complete a limited application, provide credit report and background report. Documentation is missing for second guarantor.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
guarantor docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207231

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2207220

1 of 5

XXXX

Compliance

Flood Insurance Required

XXXX

The Flood Notice in the loan file was signed on XX/XX/XXXX. The Flood Notice should have been received at least XXXX days prior to closing.

Acknowledged

XXXX

2207220

2 of 5

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2207220

3 of 5

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. Total assets verified are $XXXX in liquid assets, $XXXX EMD, and $XXXX in available HELOC balance, totaling $XXXX. Total cash to close is $XXXX and XXXX months reserves of $XXXX, leaving a shortage of $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
The same asset documentation was provided. Shortage is the same. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207220

4 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2207220

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206779

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206779

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The loan file is missing the liens and judgements for the enitity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206779

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2206778

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206778

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The loan file is missing the full background for liens and judgements for the enitiy.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206778

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score XXXX.

Cleared

XXXX

2211634

1 of 5

XXXX

Compliance

Federal - HOEPA (High Cost)/Points & Fees

XXXX

The loan failed the high-cost mortgage (HOEPA) points and fees threshold test due to the following: The loan amount is $XXXX or more, and the transaction's total points and fees is $XXXX, which exceeds XXXX percent of the total loan amount of $XXXX. The following points and fees were included in the calculation: Loan Origination Fee $XXXX and Points - Loan Discount Fee $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs provided.

Response 1 (XX/XX/XXXX XX:XXPM)
The undiscounted rate provided is sufficient to clear the finding. (Resolved)

XXXX

2211634

2 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211634

3 of 5

XXXX

Credit

Assets - Minimum Reserves

XXXX

XXXX provided to allow borrower to proceed with purchase with XXXX months reserves instead of required XXXX months. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors.

Compensating Factors: Residual Income greater than $XXXXk, XXXX same employment for XXXX+ years

XXXX

2211634

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

Lender exception provided to allow XXXX% seller concessions instead of the max XXXX% required with LTV greater than XXXX%. Determined non-material based on compensating factors (waived).

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX non-material based on compensating factors.

Compensating Factors: Residual Income greater than $XXXXk, XXXX same employment for XXXX+ years

XXXX

2211634

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206776

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206776

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206776

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2206775

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206775

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206775

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2206774

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206774

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Per the guidelines a background check that includes a search for liens of judgments is required for the Entity. The required background check for entity XXXX is missing from the loan file

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206774

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206773

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206773

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. A background report including search for liens and judgments on the entity must be completed. No background check in file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
background

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206773

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2207219

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207219

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207219

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2216492

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216492

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216492

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216491

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216491

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216491

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206772

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206772

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

According to guidelines all guarantors arerequired to provide a limited application which includes the name, address,date of birth, Social Security Number, and citizenship, authorization for acredit report and background report, with credit scores meeting the minimumqualifying score, and Identification documentation such as a driver's XXXX passport for all guarantors. The loan file did not contain any of therequired documentation for the non-borrowing guarantor, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See the attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206772

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX provided for "allow for guarantor not meeting tradeline requirement." Determined non-material based on compensating factors. (Waived).

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX non-material based on compensating factors. (Waived)

comp factors- repeat client DSCR XXXX XXXX

XXXX

2206772

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206771

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206771

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206771

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2206770

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206770

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached HOI

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206770

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216465

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216465

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216465

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207218

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207218

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207218

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206769

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206769

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206769

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207217

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207217

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207217

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA in the file dated XX/XX/XXXX supports the appraised value.

Cleared

XXXX

2216482

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216482

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216482

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a second full appraisal, dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2216480

1 of 3

XXXX

Compliance

State Regulations

XXXX

This loan failed the bona fide discount points test due to one of the following findings: (XXXX §XXXX-1.1A (c)(1)(b))

Acknowledged

XXXX

2216480

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216480

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216473

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216473

2 of 3

XXXX

Credit

DSCR - Missing background check

XXXX

Missing background check per guidelines. The loan file is missing the full background for the entity for liens and judgements.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216473

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2201893

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201893

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201893

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2204774

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204774

2 of 3

XXXX

Credit

Debts - Not Verified

XXXX

The application lists significant debts that were not verified on the credit report and not independently verified. The XXXX dues for the additional REO located at XXXX #XXXX was indicated on the application to be $XXXX per month; however, was not documented in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204774

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2204772

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204772

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
HOI

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204772

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216336

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216336

2 of 5

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Tax Servicing Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216336

3 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (No COC - Date Undeterminable)

XXXX

The loan failed the charges that cannot increase test. Although the increase may be valid, because a COC was not provided, auditor is unable to determine if the revised CD issued on XX/XX/XXXX was disclosed within XXXX business days of the change. Therefore, the increase/addition to the following fees was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please See LOE, PCCD, Pay history showing PR.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216336

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216336

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The LCA score is XXXX.

Cleared

XXXX

2204773

1 of 3

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Settlement Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Clarify fees.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Please see PCCD

Response 1 (XX/XX/XXXX XX:XXPM)
The Settlement/Escrow fee in the amount of $XXXX was added to the CD issued on XX/XX/XXXX without a valid COC. All title fees were tested at XXXX% tolerance and results in a cost to cure in the amount of $XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2204773

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204773

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2205017

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fee was not accepted as valid: Appraisal fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Supporting documentation for TRID violation

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is not sufficient to cure the finding. The LOE and PCCD have been provided. The refund check request provided is unacceptable as a copy of the refund check. A copy of the refund check and Proof of Delivery is required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2205017

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2205017

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2205016

1 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report and MERS Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2205016

2 of 4

XXXX

Credit

Contract Addendum - Missing

XXXX

All non-borrowing spouses must be on the purchase contract if vested on title for loans closing in XXXX, based on state law. The Sales Contract Addendum to add the spouse to the contract is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see response from title for sales contract

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2205016

3 of 4

XXXX

Credit

Credit - Other

XXXX

The operating agreement or equivalent to verify the borrower's ownership percentage of the self-employed business is missing from the loan file. Two managers are listed on the certificate of good standing status as of XX/XX/XXXX; however, the business narrative reflects that the borrower is XXXX% owner.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Evidence that XXXX and XXXX are the same person. Added credit report showing both names associated.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2205016

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213898

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised PCCD issued on XX/XX/XXXX, MERS Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2213898

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213898

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216337

1 of 4

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX Disclosure

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216337

2 of 4

XXXX

Credit

Assets - Minimum Reserves

XXXX

Sufficient reserves to meet underwriting requirements and PITI were not properly verified in the file. The borrower was required to evidence XXXX months reserves, which is the equivalent of $XXXX in reserves. This is in addition to the requirement of $XXXX in funds to close, prepaid items and earnest money deposit. Therefore, the borrower was required to evidence a total of $XXXX in funds for the subject transaction. The loan file only contained evidence of $XXXX in qualifying assets. Bank statements for the borrower's business checking account were also present in the file reflecting a balance of $XXXX; however, a signed letter from a CPA or Underwriter Cash Flow Analysis verifying that the withdrawal of funds for the transaction will not have a negative impact on the business was not present in the loan file. Without the use of these funds, there would be a $XXXX shortage in verified assets.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
UW Cash Flow Analysis

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
U/W Cash Flow Analysis

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2216337

3 of 4

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXXRebuttal 2 (XX/XX/XXXX XX:XXPM)
Please explain why the attached HOI Policy is not acceptable: Coverage B is for other structures (fire and extended coverage) same for personal property And they have listed sewer back up and service line coverage. Feel free to contact XXXX with any questions.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
HOI Declaration Pages with all perils

Rebuttal 4 (XX/XX/XXXX XX:XXAM)
Declaration page

Rebuttal 5 (XX/XX/XXXX XX:XXPM)
Not understanding why this is being upheld, policy clearly states what is covered, windstorm or hail, fungi, endorsements are listed and deductibles for each peril.

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX provided does not confirm All Perils. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Policy should reflect HO3, or Special Coverage should be selected, or deductible should be reflected for All Other Perils, or listed perils should include Lightning, Explosion, Riot, Civil Unrest, Vandalism, and Smoke. (XXXX)

Response XXXX (XX/XX/XXXX XX:XXAM)
Additional documentation not received. Unable to clear. (XXXX)

Response 4 (XX/XX/XXXX XX:XXAM)
Documentation supporting All Perils coverage not received. (XXXX)

Response 5 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216337

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2196930

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2196930

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2196930

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2196927

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2196927

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The guidelines indicate all open judgments, garnishments, and outstanding liens must be paid off prior to or at loan closing. The Title Commitment in file reflects an open judgment for the XXXX for $XXXX plus interest dated XX/XX/XXXX payable to XXXX of XXXX. The loan file does not contain documentation to support the judgment was paid.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached revised prelim title. Judgement was an error. Please clear.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2196927

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2213859

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213859

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213859

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file contained a CU with a score of XXXX. The loan file also contained a CDA dated XX/XX/XXXX with a value of $XXXX, which did not support value.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
In error, the XXXXst appraisal was not provided for your review in the original file submission. Please see the XXXXst appraisal, uploaded here, with effective date XX/XX/XXXX & value $XXXX that matches up to the FNMA & FHLMC UCDP reports. The CDA dated XX/XX/XXXX, already in file, was done based off the XXXXst appraisal. Then the 2nd appraisal, the one already in file, with effective date XX/XX/XXXX & value $XXXX is what was used to determine appraised value on the loan. Condition is remedied once the XXXXst appraisal is now provided and the time line of events follows correctly. Guidelines are met and nothing further is required.

Response 1 (XX/XX/XXXX XX:XXAM)
CDA was completed on XX/XX/XXXX as the first secondary valuation product. 2nd appraisal was completed on XX/XX/XXXX as the second additional valuation product. Downgraded to a EV2. (Resolved)

XXXX

2199534

1 of 4

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The PUD Rider is missing. Please provide the executed rider and a revised mortgage document, which includes the necessary corrections on page XXXX. The borrower is required to initial the changes made.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find attached the signed XXXX. Thank you.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2199534

2 of 4

XXXX

Credit

Program Parameters - Loan Amount

XXXX

XXXX in file for the $XXXX loan amount being < $XXXX program minimum. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find the exception form approving a lower loan amount than $XXXX. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX Fico > XXXX program minimum. XXXX months PITI Reserves > XXXX months required, Experienced Investor

XXXX

2199534

3 of 4

XXXX

Credit

Program Parameters - Property Type

XXXX

XXXX in file as the subject property is considered Rural. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find attached exception form. Please clear. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX Fico > XXXX program minimum. XXXX months PITI Reserves > XXXX months required, Experienced Investor

XXXX

2199534

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2204810

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204810

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204810

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The CU score is XXXX; however, a CDA was notpresent in the loan file as required.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX disagrees with condition. Please see uploaded response with support that CDA is not required.

Response 1 (XX/XX/XXXX XX:XXAM)
DR agrees. Incorrect guidelines were used during review. Guidelines for subject transaction accepts a CU score of XXXX or less. CU score is XXXX. Finding voided. (Void)

XXXX

2196929

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2196929

2 of 4

XXXX

Credit

Borrower - Identification

XXXX

The XXXX report in file has an unaddressed high risk alert for XXXX (Borrower XXXX). The report indicates discrepancies with the Co-Borrower's DOB and suggests the SSN may have been issued prior to the submitted XX/XX/XXXX DOB. The loan file contains a US Patriot Identification Form that reflects a DOB of XXXX. The loan file is missing documentation that supports the correct DOB and SSN was verified at origination.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX used to verify SSN and XXXX license used to verify DOB XXXX at time of origination. Please see write up and supporting documents uploaded. Most of which are already in file.

Response 1 (XX/XX/XXXX XX:XXAM)
DL DOB is in XXXX. (Resolved)

XXXX

2196929

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

The guidelines indicate properties located in XXXX are not eligible for DSCR programs. The subject property is located in XXXX and the loan documents do not support this was addressed at origination.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Condition not valid. XXXX does not have a geographical restriction for XXXX in XXXX. Please see write up and remove condition.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Please see exception approval and move the loan forward. XXXX granted an exception for property being in XXXX. Thanks!

Response 1 (XX/XX/XXXX XX:XXAM)
The product is not identified as DSCR XXXX or DSCR XXXX. Page XXXX of the guide indicates that DSCR XXXX is ineligible in XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX, LTV XXXX%, reserves $XXXX.

XXXX

2196929

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX.

Cleared

XXXX

2213864

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2213864

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213864

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2213863

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

he loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213863

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213863

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2202118

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2202118

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2202118

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216520

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216520

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216520

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2213861

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2213861

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213861

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2169785

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169785

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2169785

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value.

Cleared

XXXX

2199535

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2199535

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2199535

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX.

Cleared

XXXX

2202117

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2202117

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2202117

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216176

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216176

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216176

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
2nd review

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
CDA

Response 1 (XX/XX/XXXX XX:XXAM)
CDA received is not for the subject property. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216174

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216174

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The loan file is missing the Operating Agreement for the borrowing entity known as XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216174

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX.

Cleared

XXXX

2216247

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216247

2 of 3

XXXX

Credit

Credit - OFAC Screening

XXXX

he borrowing entity has XXXX members with Guarantor #XXXX with XXXX% ownership and entity owner #XXXX with XXXX% ownership. Entity owner #XXXX, XXXX is considered as a key principal. The investor guidelines required an OFAC search on all borrower's/guarantors and key principals. The OFAC search was not provided for key principal XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216247

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. XXXX was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206960

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206960

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206960

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains an AVM dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2205015

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2205015

2 of 4

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
HOI Policy

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2205015

3 of 4

XXXX

Credit

Income - Other

XXXX

Guidelines require a business narrative to be completed and retained in the loan file. The business narrative was missing from the loan file for both the borrower's businesses.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Business Narrative for XXXX and XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
XXXX business name changed to XXXX.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Business Narrative for XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Still missing Business Narrative for XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Still missing business narrative for this business. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2205015

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2213899

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2213899

2 of 3

XXXX

Credit

Program Parameters - Credit Score

XXXX

The borrower's credit score is below the minimum allowable per guidelines. The minimum FICO is XXXX; however, the borrower's qualifying FICO is only XXXX which does not meet the minimum required.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Matrix shows credit score XXXX-XXXX for XXXX%.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2213899

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The CU score is XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
LCA Report per Optimum loan guidelines

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216341

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216341

2 of 5

XXXX

Credit

Debts - Not Verified

XXXX

HOA dues in the amount of $XXXX per month were included at origination; however were not documented or verified in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Condition rebuttal verifying no HOA fee

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216341

3 of 5

XXXX

Credit

Income - Insufficient Documentation

XXXX

The subject was qualified using XXXX months bank statement income documentation. The loan file is missing XXXX of XXXX months of the bank statements used for income qualification. The XX/XX/XXXX bank statement for the acct XXXX** is present in the loan file; however, all of the bank statements from XXXX/XXXX to XXXX/XXXX are missing from the loan file. Without this documentation the income could not be confirmed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX XXXX statement XXXX/XXXX-XXXX/XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216341

4 of 5

XXXX

Credit

Income - Other/Missing

XXXX

A business narrative is required for all bank statement program loans. The business narrative was missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Business Narrative

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216341

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2213900

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213900

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213900

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216342

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216342

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216342

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2204703

1 of 4

XXXX

Compliance

HUD1 - Missing (All)

XXXX

There is no evidence of a HUD-XXXX Settlement Statement provided in the loan file but rather a funding statement was provided. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.8(a)

Acknowledged

Response 1 (XX/XX/XXXX XX:XXAM)
Although there is not a complete final settlement statement, there is a funding statement of fees in the file. It could not be determined that the funding statement provided was the final settlement costs as closing. Not marked Final, not signed, not stamped as true and certified correct copy. Ev2 Acknowledged.

XXXX

2204703

2 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The Lender's guidelines require a Certificate of Good Standing or an "Active Status" from the State of entity registration unless the date of formation is less than XXXX months of the Note date. The date of formation was XX/XX/XXXX and the Note date was XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The LLC was formed less than a year ago, so it would not be possible for it to be in bad standing based on the length of time since its formation. Attached is the XXXX showing active.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204703

3 of 4

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Application Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204703

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2204705

1 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2204705

2 of 4

XXXX

Credit

Assets - Bank Statements

XXXX

The total required funds for closing, EMD funds and reserves were $XXXX. A XXXX account ending in XXXX was provided to support a portion of the required funds. The investor guidelines required the most current XXXX days of transaction history. The file contained a printout of the account with transactions dated from XX/XX/XXXX to XX/XX/XXXX with an additional statement with transactions from XX/XX/XXXX t0 XX/XX/XXXX. Transaction from XX/XX/XXXX to XX/XX/XXXX were missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX Statement attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204705

3 of 4

XXXX

Credit

Assets - Large Deposits/Unacceptable

XXXX

The total required funds for closing were $XXXX including the EMD funds plus reserves in the amount of $XXXX for total required funds of $XXXX, XXXX account ending $XXXX was provided to support a portion of the required funds. This account reflected a large deposit of $XXXX on XX/XX/XXXX which was not fully documented. Without these funds, the required funds would be short $XXXX in closing funds and $XXXX in reserves.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached LOE and supporting doc

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204705

4 of 4

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. XXXX was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2216248

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216248

2 of 5

XXXX

Credit

Assets - Minimum Reserves

XXXX

The subject was a purchase money transaction with an LTV of XXXX%. The total closing funds including the EMD were $XXXX plus reserves in the amount of $XXXX for a total of $XXXX. The investor guidelines required XXXX months of reserves for LTV's greater than XXXX%. Funds were verified in the amount of $$XXXX. The verified assets are short of meeting the reserve requirement by $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please use accounts #XXXX and #XXXX XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216248

3 of 5

XXXX

Credit

Assets - Other

XXXX

Subject is a purchase money transaction with required funds for closing and reserves. A XXXX business checking account # ending in #XXXX in the business name of XXXX was provided to support the required funds. The investor guidelines required a full Operating Agreement detailing ownership of the entity and access to funds or a official documentation (i.e. letter from the bank substantiating the applicant is an authorized signer and has access to the business account or percent (%) of funds based on Guarantor ownership. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Operating Agreement for XXXX attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216248

4 of 5

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The borrowing entity has XXXX members with Guarantor #XXXX with XXXX% ownership and entity owner #XXXX with XXXX% ownership. Entity owner #XXXX, XXXX is considered as a key principal. The investor guidelines required an OFAC search on all borrower's/guarantors and key principals. The OFAC search was not provided for key principal XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216248

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2210601

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210601

2 of 3

XXXX

Credit

Condo - Documentation

XXXX

The loan file did not contain the following required condo documentation (Master HOA property insurance, HOA Budget, Covenants and Restrictions).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the docs attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210601

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2210602

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210602

2 of 3

XXXX

Credit

Condo - Documentation

XXXX

Loan file did not contain the following required condo documentation (Master HOA property insurance, HOA Budget, Covenants and Restrictions).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the docs attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210602

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2210599

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210599

2 of 3

XXXX

Credit

Condo - Documentation

XXXX

The loan file did not contain the following required condo documentation (Master HOA property insurance, HOA Budget, Covenants and Restrictions).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see all docs attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210599

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2210600

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210600

2 of 3

XXXX

Credit

Condo - Documentation

XXXX

The loan file did not contain the following required condo documentation (Master HOA property insurance, HOA Budget, Covenants and Restrictions).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the docs attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210600

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2210598

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210598

2 of 3

XXXX

Credit

Condo - Documentation

XXXX

The loan file did not contain the following required condo documentation (Master HOA property insurance, HOA Budget, Covenants and Restrictions).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the docs attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210598

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. CDA provided has a -XXXX% variance.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The loan amount was adjusted based on the CDA value. We are good to proceed with the CDA per ECF guidelines.

Response 1 (XX/XX/XXXX XX:XXAM)
CDA used to determine LTV. Downgraded to EV2. (Resolved)

XXXX

2206961

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206961

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206961

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2206959

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206959

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The Lender's guidelines state that maximum amount of XXXX is XXXX. Despite this, the loan closed with XXXX Borrowers.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX approved for XXXX borrowers

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2206959

3 of 4

XXXX

Credit

Final Application - Missing

XXXX

The Final application is missing as required by guides. The Lender's guidelines state that an application is required for all Borrowers/Guarantors. Despite this requirement, the loan file only contained an application for two of the Borrowers (XXXX).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Signed Loan application attached including all borrowers

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206959

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained an CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2216249

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216249

2 of 4

XXXX

Credit

Appraisal - Other

XXXX

There are additional appraisal findings. The subject transaction is a purchase. The Owner of Public Record reflects the borrowing Entity and not the seller. Corrected appraisal required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached appraisal and XXXXD reflecting XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Updated attached

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX and XXXXD should reflect Owner of Record as XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216249

3 of 4

XXXX

Credit

Assets - Large Deposits/Unacceptable

XXXX

Recent large deposits were not adequately sourced and/or documented. A large deposit of $XXXX on XXXX/XXXX is noted in XXXX #XXXX. The file contained an explanation for the source of the deposit stating it was from an account with XXXX #XXXX. The file is missing the XXXX statement for review. Omitting this deposit results in an asset shortage of $XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX #XXXX Statement attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216249

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2204704

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204704

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204704

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The required CDA was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204707

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204707

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204707

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. XXXX was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204706

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204706

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent. Required all perils was not noted on the insurance policy.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached insurance marked with Special Form - DP3 Coverage

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2204706

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. XXXX was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA attached

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2210596

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210596

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210596

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2210597

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210597

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210597

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value.

Cleared

XXXX

2165784

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the addition to the following fees was not accepted: Survey fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please reference the Service Provider List. The borrowers shopped for their Provider, therefore the fees in section C of the CD can change without a change of circumstance.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165784

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

According to guidelines Residual Income of $XXXX is required for the Expanded Prime Program. The subject closed under the Expanded Prime and the borrower's residual income is less than $XXXX at $XXXX.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXAM)
Client reviewed, elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX reserves, 0x30x24 VOR history.

XXXX. No housing late payments. $XXXX in reserves.

XXXX

2165784

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX supportive of value.

Cleared

XXXX

2168062

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects 'Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. XXXX and Credit Report Fees. However, these fees should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2168062

2 of 3

XXXX

Credit

Income - Rental Property/Missing Lease

XXXX

The lease for XXXX XXXX was missing from the loan file, as reflected on the final XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
We were not using rental income to qualify.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Resolved)

XXXX

2168062

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2201934

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2201934

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201934

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. LCA is XXXX.

Cleared

XXXX

2207129

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207129

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207129

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2201935

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The borrower’s name on the Security Instrument is inconsistent with the XXXX. Title reflects that current vested interest is in the name of XXXX, however the mortgage lists XXXX. A deed transferring ownership interest from XXXX to XXXX is required to confirm ownership interest in the new mortgage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
quit claim deed

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2201935

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201935

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216460

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216460

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216460

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2204765

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204765

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204765

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. LCA is XXXX.

Cleared

XXXX

2211611

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211611

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211611

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216457

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216457

2 of 4

XXXX

Credit

Program Parameters - Financed Properties

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Financed Properties. Guidelines allow a maximum of XXXX properties financed with the lender as the maximum exposure; however, the subject transaction is the 5th. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Emails between XXXX & XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Email between XXXX & XXXX approving it. Thank you

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Comp Factors – XXXX DSCR and XXXX

XXXX

2216457

3 of 4

XXXX

Credit

Program Parameters - Loan Amount

XXXX

XXXX in file as the subject loan does not meet Program Parameters for loan amount. Guidelines require a minimum loan amount of $XXXX; however, the subject loan amount is only $XXXX. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Emails between XXXX & XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Email between XXXX & XXXX approving it. Thank you

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Comp Factors – XXXX DSCR and XXXX

XXXX

2216457

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2204766

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204766

2 of 4

XXXX

Credit

Income - Pay Stubs Missing

XXXX

The pay stub reflecting income through XX/XX/XXXX, as indicated by the income calculator provided by the lender, was not provided in the loan file. Current paystub in file exceeds the XXXX day age of loan documentation requirement.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Uploaded updated paystub. Thank you

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Uploaded paystub.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2204766

3 of 4

XXXX

Credit

Title Commitment - Other

XXXX

The proposed insured and insured amount is missing from the title commitment.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Uploaded Final Title Policy.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2204766

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2201936

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2201936

2 of 3

XXXX

Credit

Credit - Other

XXXX

The most recent statement is missing for the XXXX installment with a balance of $XXXX and payment of $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
credit cupp

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2201936

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2211612

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211612

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The PRMG Self-Employed Business Narrative Form (or equivalent) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Document not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2211612

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2204768

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2204768

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204768

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2211614

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211614

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211614

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2211613

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211613

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

A PRMG Self-Employed Business Narrative Form (or equivalent) was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
business narrative form

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211613

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a 2nd appraisal, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216459

1 of 3

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Initial CD

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Uploaded initial CD.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Uploaded Initial CD.

Response 1 (XX/XX/XXXX XX:XXPM)
Documents not received. Please resubmit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documents not received. Please resubmit. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216459

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216459

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216458

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216458

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216458

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2204769

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204769

2 of 3

XXXX

Credit

Appraisal - Appraisal Missing

XXXX

The loan file is missing a completed appraisal report as required per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Uploaded appraisal. Thank you

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2204769

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216461

1 of 4

XXXX

Compliance

FACTA Disclosure - Missing

XXXX

The FACTA Disclosure (Notice to Home Loan Applicant/Credit Information Disclosure) is missing.

Acknowledged

XXXX

2216461

2 of 4

XXXX

Compliance

HOC - Missing

XXXX

The Homeownership Counseling Disclosure (HOC) is missing. Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.20(a)

Acknowledged

XXXX

2216461

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216461

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216462

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216462

2 of 4

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see email from agent - if this not sufficent please confirm perils you are looking for

Response 1 (XX/XX/XXXX XX:XXAM)
Agent has confirmed policy is HO3. (Resolved)

XXXX

2216462

3 of 4

XXXX

Credit

Income - Other

XXXX

The loan file was approved with a monthly income of $XXXX, however the monthly income analysis provided in the loan file reflects a calculated monthly of $XXXX. Using the monthly income of $XXXX brings the DTI to XXXX%, which exceeds the maximum allowed DTI of XXXX%.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
income wrsht

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216462

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216338

1 of 3

XXXX

Compliance

TRID - CD/Lender Credits that Cannot Decrease (No Valid COC)

XXXX

The loan failed the Lender Credits that Cannot Decrease Test. The lender credit decreased on the CD issued on XX/XX/XXXX without a valid change of circumstance. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Change in Circumstance

Response 1 (XX/XX/XXXX XX:XXPM)
Documents not received. Please resubmit. (XXXX)

XXXX

2216338

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
HOI Policy showing "All Perils" for your review.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216338

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216340

1 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216340

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Copy of the Check, Refund Letter, PCCD and XXXX for review

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216340

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216340

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2199196

1 of 1

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2199192

1 of 1

XXXX

Compliance

TRID - CD/Payee Not Listed

XXXX

The loan contains the following fee where 'compensation to' does not reflect a payee on the revised PCCD issued on XX/XX/XXXX: XXXX.

Acknowledged

XXXX

2199193

1 of 1

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the revised PCCD issued on XX/XX/XXXX. HOA Questionnaire Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216180

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216180

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216180

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2199197

1 of 2

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. The loan file did not contain a Service Provider List. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Document Preparation Fee, XXXX, XXXX, Recording Service Fee, Settlement or Closing Fee, Sub-Escrow Fee, XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2199197

2 of 2

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX and XX/XX/XXXX, the increase to the following fee was not accepted: XXXX (XX/XX/XXXX). A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2199194

1 of 1

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2199198

1 of 4

XXXX

Compliance

TRID - CD - Revised CD Delivery Date (Waiting Period, APR)

XXXX

XXXX Required: An APR outside of allowable tolerance required a corrected Closing Disclosure and the corrected Closing Disclosure was not received by the borrower at least three business days prior to the Consummation Date. The CD issued on XX/XX/XXXX triggered a new XXXX-day waiting period. The baseline APR for comparison purposes was set on XX/XX/XXXX with an APR of XXXX%. The APR increased more than XXXX. Therefore, a new waiting period was triggered on XX/XX/XXXX. This CD was not received at least XXXX business days prior to consummation. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2199198

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For on the PCCD issued on XX/XX/XXXX. (Evidence of Insurance and HOA Questionnaire). However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2199198

3 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Credit Report Fee and Verification Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2199198

4 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fee was not accepted as valid: XXXX (XX/XX/XXXX). A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2199195

1 of 1

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

This loan failed the charges that cannot increase test. (12 CFR §1026.19(e)(3)(i)). Because the changes occurred on XX/XX/XXXX (Broker Fee) and XX/XX/XXXX (XXXX) and the consumers were not provided the disclosure within XXXX days of the changes, the increases to the following fees were not accepted as valid: XXXX and XXXX fees on the revised CD issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery. The loan reviewed contains a note dated more than XXXX months old, outside the applicable statute of limitations.

Resolved

XXXX

2175281

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175281

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175281

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2211609

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211609

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211609

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175261

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175261

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175261

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX

Cleared

XXXX

2203824

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2203824

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2203824

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2203822

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
COC

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
PCCD-LOX Cost to cure check refund -proof of delivery

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
PCCD,LOX, Check for Cure and proof of delivery

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The COC for XX/XX/XXXX and the COC for XX/XX/XXXX have been provided in the original loan file and were applied for the Rate Lock and Rae Lock extension. A valid COC has not been provided for the increase to the Appraisal on the CD issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The LOE, PCCD and XXXX of delivery have been provided. A copy of the refund check is required. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2203822

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2203822

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX

Cleared

XXXX

2216173

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216173

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The loan file is missing the signed XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Guaranty

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216173

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2200799

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Acknowledged

XXXX

2200799

2 of 3

XXXX

Credit

Borrower - Residency Alien Documentation

XXXX

Two of the guarantors are from XXXX. Per the guidelines, persons from XXXX do not need a XXXX due to XXXX being on the XXXX. However, the guarantors must provide the applicable paperwork related to the XXXX. The third guarantor is from XXXX with a passport issued in XXXX. The file does not contain evidence the guarantor is a citizen of XXXX. Per the guidelines, either a XXXX would be required or documentation XXXX is on the XXXX along with the applicable paperwork related to the XXXX. The loan file does not contain the required documentation.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Disclosed by originator. Client reviewed and elects to waive.

Comp factors: XXXX% LTV, experienced investor

XXXX

2200799

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2200794

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The loan is a XXXX-year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2200794

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200794

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. No value supporting documentation was present in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Good morning, CDA attached supporting the appraised value of $XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX (XX/XX/XXXX XX:XXPM)
CDA attached.

XXXX

2200800

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200800

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The minimum DSCR for a short-term rental is XXXX. The subject qualifying DSCR is .XXXX which does not meet the minimum.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, XXXX% LTV, $XXXX verified reserves, experienced investor

Comp factors: XXXX% LTV, XXXX, strong reserves

XXXX

2200800

3 of 4

XXXX

Credit

Income - Rental Property Income

XXXX

Subject has beenowned for over XXXX months. The loan file contains XXXX full appraisals. Both appraisals reflect evidence of a Short-Term Rental in the photos and one appraisal, dated XX/XX/XXXX (the most recent appraisal), reflects that the subject is a Short-Term Rental on both the market rent analysis and in the appraiser’s comments. The appraisal, dated XX/XX/XXXX, reflects the subject as vacant and photos reflect typical Short-Term rental accommodations, including but not limited to a basket of snacks on the kitchen counter, folded towels on each bed, entertainment activities and games. No personal items were noted in the photos. The loan file does not contain evidence of XXXX months of the Short-Term rental income as required. Further, the property Guard Report is required on all Short-Term rentals and is not present in the file.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Disclosed by originator. Client elects to waive.

Comp factors: XXXX% LTV, XXXX, strong reserves

XXXX

2200800

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. XXXX full appraisals dated XX/XX/XXXX and XX/XX/XXXX were present in the loan file supporting the qualifying value.

Cleared

XXXX

2200795

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

Acknowledged

XXXX

2200795

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200795

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2201603

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201603

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201603

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2201957

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201957

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201957

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. CU score is XXXX.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The CDA report is already included in the closing package. Could youplease confirm whether any additional documentation is required to support theorigination appraised value and advise us accordingly.

Response 1 (XX/XX/XXXX XX:XXAM)
DR agrees. The origination file contains a CDA dated XX/XX/XXXX which supported the origination appraised value. Finding voided. (Void)

XXXX

2204763

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204763

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204763

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2201956

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201956

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201956

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2213872

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2213872

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213872

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2213873

1 of 3

XXXX

Compliance

HOC - Undated

XXXX

There is no date evident on the Homeownership Counseling Disclosure (HOC) provided in the loan file; cannot determine if it was disclosed to the borrower within XXXX business days of the application date, XX/XX/XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX

Acknowledged

XXXX

2213873

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2213873

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2038923

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2038923

2 of 4

XXXX

Credit

Borrower - Residency Alien Documentation

XXXX

The loan application reflects that the borrower is a US Citizen; however, a copy of the borrower's XXXX was provided in the loan file and no other documentation to verify the borrower's citizenship status was provided in the loan file. Per the investor guidelines, if borrower was a permanent resident alien, a copy of the Permanent Resident Card would be required. Documentation to support borrower was a US Citizen or permanent resident card were not provided as required.

Cleared

XXXX

2038923

3 of 4

XXXX

Credit

Credit - Other

XXXX

The guidelines required a gap credit or undisclosed debt monitoring report no more than XXXX days prior to loan closing or any time after closing; however, there was no evidence of this in the loan file as required.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX% DTI, XXXX qualifying credit score, $XXXX residual income

XXXX. XXXX% DTI. $XXXX per month residual income.

XXXX

2038923

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2167129

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The borrower is XXXX; however, page XXXX of the XXXX states the borrower is XXXX and XXXX. The borrower should be listed as the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
recorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2167129

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Loan Amount. The lenders guidelines state the minimum loan amount is $XXXX. The subject loan was approved with a loan amount of $XXXX. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approved

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waiver)

Compensating Factors: FICO of XXXX, and at least XXXX points higher than guideline minimum. Monthly reserves verified and at least XXXX months more than guidelines minimum. DSCR higher than XXXX and at least 0.1x higher than the guidelines maximum.

XXXX

2167129

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2125244

1 of 3

XXXX

Compliance

Security Instrument - Non-Borrowing Spouse/Missing

XXXX

The Assignment of Rents was not executed by the non-borrowing spouse.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The non-borrower is on the DOT for vesting only and does not have authority to assign the leases/rents on this investment property.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
ATTACHED

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
MTG

Response 1 (XX/XX/XXXX XX:XXAM)
The Assignments of Rents Rider specifically states on page XXXX that the document is being executed by both XXXX and XXXX. Either XXXX needs to sign the document as indicated on page XXXX or she needs to be removed from page XXXX. If she is removed borrower required to initial the change made. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The documentation provided is not sufficient to clear the finding. The Assignment of Rents with the corrections initialed by the borrower has been provided. A Processors Cert stating the broker has also been provided stating the broker has confirmed request for re-recording. Please provide the re-recorded documents for review or evidence from the county they have been sent for recording. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2125244

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2125244

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2152711

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
DOT

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2152711

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2152711

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2148777

1 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: Page XXXX of the Loan Agreement was completed incorrectly. The borrower is an entity, but the agreement lists the borrower as a natural person.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Note does not reference Loan Agreement.

Response 1 (XX/XX/XXXX XX:XXAM)
The information provided is sufficient to clear the finding. (Resolved)

XXXX

2148777

2 of 5

XXXX

Compliance

Note - Incomplete

XXXX

The following section(s) of the Note is incomplete: The loan agreement XXXX is not completed correctly. The borrower is an entity, but Exhibit B of the loan agreement lists the borrower as a natural person and missing the witness execution date.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Note does not reference loan agreement.

Response 1 (XX/XX/XXXX XX:XXAM)
The information provided is sufficient to clear the finding. (Resolved)

XXXX

2148777

3 of 5

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. Page XXXX of the Assignment of Rents and XXXX was completed incorrectly. The borrower is an entity, but the rider lists the borrower as a natural person.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
re-recorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2148777

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2148777

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2160029

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. Page XXXX of the Assignment of Rents Rider was incorrectly listing the individual name instead of the entity name.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
corrected recording

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160029

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2160029

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2137674

1 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The borrower is an entity. The 1st page of the Assignment of Rents lists the borrower as an Individual; the entity name should be listed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
re-recorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2137674

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2137674

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2137674

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX

Cleared

XXXX

2144693

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The security instrument was not completed accurately. Page one of the referenced Assignment of Leases and XXXX reflects the borrower as an individual; however, the borrower is an Entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ALR re-recorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2144693

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2144693

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2155551

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The borrower is an entity. The 1st page of the Assignment of Rents lists the borrower as an Individual; the entity name should be listed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
re-recorded

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
see page XXXX, recorded cover sheet with correction. This was recorded according to the rules of that county recorder&#XXXX;s office.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The re-recorded Mortgage has been provided with a cover sheet that the document has been re-recorded to update the ALR to the entity name; however, the ALR name was not updated. Please provide an updated ALR with the entity name and evidence of re-recording. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The Assignment of Rents rider needs to be corrected and borrower to initial the change made to the name. A cover sheer explaining the error alone is not acceptable. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2155551

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2155551

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2139479

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The borrower is an entity. The 1st page of the Assignment of Rents lists the borrower as an Individual; the entity name should be listed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Updated DOT provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2139479

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2139479

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2160486

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The PCCD, copy of the refund check, and XXXX have been provided. The LOE is required. (XXXX)

XXXX

2160486

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2160486

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2137663

1 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is incomplete: The Loan Agreement and Exabit B to the Loan Agreement show the borrower as an individual and should be shown in the Entity name.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Finding is not applicable as this loan uses a FNMA note. The Loan Agreement does not become applicable to the review unless the Note specifically mentions a Loan Agreement being attached and made a part of the Note.

Response 1 (XX/XX/XXXX XX:XXPM)
The information provided is sufficient to clear the finding. (Resolved)

XXXX

2137663

2 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
correction

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2137663

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2137663

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2160487

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The notary date precedes the borrower's execution date. The Mortgage/Deed of Trust was signed by the borrower on XX/XX/XXXX while the notary has dated XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
DOT

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The Mortgage provided is stating that the Mortgage is being re-record to correct the XXXX date; however, the corrections to the XXXX date were not made on the document. Please provide a corrected Notary section with evidence of re-recording. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160487

2 of 3

XXXX

Credit

Appraisal - Repairs

XXXX

The appraisal was made subject to repairs. The completion report reflects all repairs were not completed as required.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Remaining cost to cure $XXXX: Minor fixes. XXXX qualifying credit score, Experienced Investor, DSCR of XXXX

Compensating Factors: Remaining cost to cure $XXXX: Minor fixes. XXXX qualifying credit score, Experienced Investor, DSCR of XXXX

XXXX

2160487

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2141254

1 of 5

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. XXXX states borrower appeared before them on XX/XX/XXXX, borrower signed on XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Updated docs provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2141254

2 of 5

XXXX

Credit

Assets - Cash to Close

XXXX

The guidelines indicate assets from the borrower’s business are an acceptable source of funds for the down payment, closing costs, and reserves, provided the business account is related to a business that the borrower owns and is reflected on the loan application. The XXXX provided XXXX #XXXX for XXXX, with a balance of $XXXX to verify funds to close and reserves. The Final XXXX only reflects the Borrower's business "XXXX," which was used to determine qualifying income for the loan transaction. Therefore, the assets provided from the XXXX business account are ineligible. The XXXX was required to evidence $XXXX for the subject transaction, to include $XXXX EMD, $XXXX closing funds and $XXXX PITI Reserves ($XXXX x XXXX). The file contains a business checking statement for "XXXX," verifying eligible funds of $XXXX and a verified EMD of $XXXX, totaling $XXXX in eligible assets. The XXXX was short $XXXX in required closing funds and $XXXX in reserves, due to ineligible assets provided at origination from business account XXXX account #XXXX for XXXX. It should be noted the XXXX provided a VOR < XXXX months, therefore, XXXX months reserves were a subsequent requirement.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2141254

3 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The loan file is missing a Business narrative form (or equivalent) for XXXX "XXXX."

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2141254

4 of 5

XXXX

Credit

Verification Documentation - VOR

XXXX

The guidelines indicate if a VOR is used to document the Borrowers' rental history; it must include the monthly payment amount, the most recent payment history, and current payment status. The VOR provided does not reflect the monthly payment amount.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2141254

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2158307

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Updated MTG provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158307

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The guidelines indicate Non-arm length transactions when there is a direct personal relationship or business affiliation between the seller and the buyer of the property are ineligible for the DSCR program. XXXX of the subject property is the current landlord of the Borrower's primary residence.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
It does not appear the seller is also owner of the borrower’s primaryper the fraud report.

Response 1 (XX/XX/XXXX XX:XXAM)
Agree with client. The finding is not valid (Void).

XXXX

2158307

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2158302

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158302

2 of 4

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

The subject closed in the name of an entity. According to guidelines a fully executed operating agreement, copy of filed articles of organization, Certificate of Good Standing, as well as EIN must be provided. The loan file contains an Operating agreement, XXXX of organization and resolution; however they were not executed. The loan file is missing a Certificate of Good standing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
COGS

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
See attached executed operating agreement

Rebuttal 4 (XX/XX/XXXX XX:XXPM)
Not understanding. Prior comment asked for COGS which was provided. Then comment said to provide signed operating agreement which was then provided. Latest comment just says "documentation not received". Please clarify what&#XXXX;s not received. Uploaded signed Operating Agreement again.

Rebuttal 5 (XX/XX/XXXX XX:XXPM)
Trying a 3rd time

Response 1 (XX/XX/XXXX XX:XXAM)
Operating Agreement is still not executed and still missing COGS. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
XXXX received. Operating Agreement must be executed. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 4 (XX/XX/XXXX XX:XXAM)
Please try again. New credit documentation upload not revived since XX/XX/XXXX. (XXXX)

Response 5 (XX/XX/XXXX XX:XXAM)
Still missing a current COGS. (XXXX)

Response 6 (XX/XX/XXXX XX:XXPM)
XXXX was provided. (Resolved)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating Factors: State document shows business in good standing and all filings are up to date. XXXX qualifying credit score, $XXXX reserves, XXXX% LTV

XXXX

2158302

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception provided to allow borrower that rents from family member in cash and unable to provided rental verification. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX, excess reserves, below XXXX% LTV.

XXXX

2158302

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2156826

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

TheAssignment of Leases and XXXX have the individual listed as theborrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Updated MTG provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2156826

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2156826

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2158306

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The Assignment of Leases and XXXX does not accurately reflect the Entity name as the borrower on page XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158306

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2158306

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. he loan file contains a CDA dated that supports XX/XX/XXXX the appraised value.

Cleared

XXXX

2160495

1 of 3

XXXX

Compliance

State & Local Predatory Lending

XXXX

This loan failed the required fees test. (XXXX Constitution, Article 16, Section 50 (a)(6)(E) & (t)(4), as amended XXXX) The loan requires the borrower(s) to pay, in addition to interest, fees to any person that are necessary to originate, evaluate, maintain,record, insure, or service the extension of credit that exceed XXXX% of the original principal amount, excluding fees for:An appraisal performed by a third party appraiser;A property survey performed by a state registered or licensed surveyor; A state base premium for a mortgagee policy of title insurance with endorsements established in accordance with state law,or a title examination report if its cost is less than the state base premium for a mortgagee policy of title insurance without endorsements established in accordance with state law.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
We are within the XXXX% threshold and XXXX has confirmed. Please note that our discount fee is bonafide. XXXX of $XXXX *XXXX% = $XXXX Our total fees included in the XXXX% are only $XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Undiscounted rate was XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Please provide the Undiscounted Rate for accurate testing. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160495

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2160495

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2173172

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2173172

2 of 3

XXXX

Credit

Contract - Parties

XXXX

The purchase agreement reflects the Borrower / Buyer as XXXX XXXX LLC vs. the closing entity, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2173172

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2187224

1 of 5

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2187224

2 of 5

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument, Prepayment Rider and Assignment of Leases and XXXX was not completed accurately. The Notary Sign date XX/XX/XXXX differs than the Borrower sign date of XX/XX/XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Correction made to notary date on page XXXX and submitted for recording however the county recorder is delayed about XXXX days for recording (about XX/XX/XXXX).

Response 1 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2187224

3 of 5

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2187224

4 of 5

XXXX

Credit

Program Parameters - Cash-Out Amount

XXXX

The subject loan exceeds the Program Parameters for cash out amount. Subject loan closed as a Rate and Term Refinance; however, Borrower received $XXXX at closing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
HUD1

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2187224

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2160007

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. Page XXXX of the Assignment of Leases and XXXX lists the borrower’s individual name instead of the entity name.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See attached

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See full re-recorded with corrected AOLR. Instrument XXXX XXXX recorded XX/XX/XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The corrected Assignment of Leases and Rents has been provided; however, evidence of re-recording has not been provided. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160007

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2160007

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165413

1 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Appraisal, Credit Report. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
cure sent

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Cure provided prior to review.

Response 1 (XX/XX/XXXX XX:XXPM)
Per SFIG tolerance violations are not curable past XXXX days from discovery. Lender became aware of the defect (discovery date) on XX/XX/XXXX. The defect is not curable after XX/XX/XXXX due to exceeding the CFPB time frame on cures. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165413

2 of 4

XXXX

Credit

Appraisal - Other

XXXX

The FHLMC Submission Summary Reports (SSR) is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ssr

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165413

3 of 4

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment/policy is missing the proposed insured name (Lender) and proposed policy amount.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
tpol

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165413

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2165435

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment ofLeases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165435

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The loan was missing current flood insurance policy on the subject property with sufficient coverage/replacement cost. The subject property is located in flood zone A which requires flood insurance coverage; however, evidence of flood insurance was not present in the loan file. It should also be noted that flood insurance is not escrowed on the HUD.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Flood policy provided, system updated. DSCR now XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Flood insurance provided

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
Flood insurance was paid in full

Rebuttal 4 (XX/XX/XXXX XX:XXAM)
Docs updated to include flood in escrow

Response 1 (XX/XX/XXXX XX:XXAM)
Evidence of Flood Insurance escrow is required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Evidence of Flood Insurance escrow not provided. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Flood insurance is required to be escrowed. (XXXX)

Response 4 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elect to waive. Noted compensating factors: XXXX qualifying credit score, DSCR of XXXX, Experienced Investor

Compensating Factors: XXXX qualifying credit score, DSCR of XXXX, Experienced Investor

XXXX

2165435

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2158338

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158338

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2158338

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2158338

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2158337

1 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The Assignment of Rents on page XXXX list the individual instead of the entity name.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2158337

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2158337

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2158337

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2163488

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163488

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163488

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2160504

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Affidavit

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160504

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Per the lender’s guidelines to take title as an LLC an OFAC search is required for borrowers, guarantors and any member of the borrowing entity owning XXXX% or more. The loan closed in the name of XXXX. The operating agreement reflects the business is owned XXXX% by the borrower and XXXX% by XXXX. An OFAC search on the co-owner was not found in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
OFAC

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160504

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2160505

1 of 3

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individual listed as the borrower on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Affidavit

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2160505

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2160505

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2163486

1 of 4

XXXX

Compliance

Security Instrument - Name Discrepancy

XXXX

The Assignment of Leases and XXXX have the individuals listed as the borrowers on Pg XXXX rather than being the Entity as signed on Pg XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
rerecorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2163486

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2163486

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2163486

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2182014

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2182014

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The guidelines indicate business purpose investment loans/DSCR require cash-out proceeds to be used for business purposes only. The Borrower indicated in the LOE provided, that loan proceeds would be used to reimburse personal funds contributed to the subject property. Consumer or personal reasons make the transaction ineligible.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Borrower did sign a business purpose affidavit attesting to use of the proceeds for business purpose even though the LOE in file may not have made that clear. Could you please escalate this to have that reviewed to see if you can waive this condition?

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
exception to accept LOX

Response 1 (XX/XX/XXXX XX:XXAM)
A LOX states that funds from the refinance were to reimburse cash to the borrower for funds used to acquire and renovate subject property. Property was purchased over a year ago. A waiver from the investor would be required. (XXXX).

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2182014

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2165421

1 of 5

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ICD, delivered, econsent

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165421

2 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (Disclosure Timing Fail)

XXXX

The loan failed the charges that cannot increase test. Because the loan failed the initial CD delivery date test, any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following increase: Appraisal Final Inspection Fee $XXXX. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXXD disclosed

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165421

3 of 5

XXXX

Credit

Debts - Not Verified

XXXX

The application lists significant debts that were not independently verified. The loan application reflects the borrowers were retaining the departure resXXXXXXXX. Per the lender’s guidelines the existing property PITIA (principal, insurance, taxes, insurance, and HOA dues) payment must be counted as part of the borrower’s recurring monthly debt obligations. The loan file did contain a mortgage statement to determine if the property taxes and homeowners’ insurance were included in the mortgage payment. The most recent mortgage statements for XXXX #XXXX and a HELOC account with XXXX #XXXX are required. Evidence of the HOA payment is also required, if applicable. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See HOA dues, we actually qualifed with a higher amount

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165421

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters for housing payment history. Per the lender’s guidelines a current housing payment history must be verified and documented to confirm that the payment is current at the time of application and the month prior to the XXXX date. The subject note date is XX/XX/XXXX. The credit report reflects date of last activity for XXXX #XXXX as XXXX/XXXX and a HELOC account with XXXX #XXXX as XXXX/XXXX. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see evidnece of april payments

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165421

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165424

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2165424

2 of 5

XXXX

Credit

Assets - Bank Statements

XXXX

A portion of the qualifying assets from XXXX business checking XXXX. The file contains the last statement as of XX/XX/XXXX with a balance of $XXXX and a print out of miscellaneous debits from XX/XX/XXXX to XX/XX/XXXX with a balance of $XXXX. The file is missing the transaction history from XX/XX/XXXX to XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
full april statement provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165424

3 of 5

XXXX

Credit

Assets - Cash to Close - Evidence of Liquidation

XXXX

A portion of the qualifying assets from XXXX which is a cryptocurrency. Guidelines allow use of such assets for down payment and closing costs only with evidence of liquidation and deposited into a XXXX. A print out in the file reflects market sell in the amount of $XXXX had been filled on XX/XX/XXXX; however, evidence of deposit into a XXXX account not provided in the file as required. Without use of these assets, funds to close shortage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
with the updated XXXX statement, we have additional funds in XXXX XXXX as of the note date (additional $XXXX). XXXX funds are no longer needed

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165424

4 of 5

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The loan closed XX/XX/XXXX and the credit report is dated XX/XX/XXXX. Guidelines require a gap credit report or Undisclosed Debt Monitoring report not more than XXXX days prior to the note date or any time after, and is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see attached gap report

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Gap Report provided.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient.(Resolved)

XXXX

2165424

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175556

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2175556

2 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The closing date was XX/XX/XXXX. The signature for one of the authorized persons is dated XX/XX/XXXX. The notary for said signature is dated XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
mortgage re-recorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2175556

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2175556

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2165431

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The notary states that borrower appeared before them on XX/XX/XXXX. However, the borrower signed the document on XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX per settlement agent

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Updated docs provided

Response 1 (XX/XX/XXXX XX:XXPM)
The information provided is not sufficient to clear the finding. The date the XXXX states the notarization is XX/XX/XXXXl this is the date the XXXX is attesting the borrower appeared before them. The borrower dated the document XX/XX/XXXX indicating this is the date they received the document. The date of notarization cannot be prior to when the borrower dated the document. (XXXX)?

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165431

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2165431

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2211645

1 of 3

XXXX

Compliance

TRID - CD - Loan Disclosures/Escrow Account

XXXX

The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: It was not disclosed if the Borrower declined or the Lender does not offer an escrow account. Truth in XXXX (Regulation Z) 12 CFR 1026.38(l)(7)

Acknowledged

XXXX

2211645

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211645

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2165448

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2165448

2 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The security instrument was not completed accurately. The XXXX indicate the subject property is a PUD, however, the loan file contains a Condominium Rider, instead of a PUD Rider. In addition the name of the development on page XXXX is incorrect.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
property is a detached condo in a PUD, correspondence attached. I&#XXXX;m still working on project name.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
XXXX is detached condo

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation is sufficient regarding Rider type. Pending name correction. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2165448

3 of 4

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

Not all required credit reports are within the file. The most recent credit report for the borrowers is dated XX/XX/XXXX and the loan closed on XX/XX/XXXX. Guidelines require a gap credit report or undisclosed debt monitoring report no more than XXXX days prior to the closing date which is missing from the file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
udm

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2165448

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2179872

1 of 4

XXXX

Compliance

Note - Name Discrepancy

XXXX

The borrower is an entity however the Note reflects individual.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
note and addendum, shipping EOD XX/XX/XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2179872

2 of 4

XXXX

Compliance

Security Instrument - Signature Discrepancy

XXXX

The borrower is an entity however, the borrower signed the Security instrument and Riders as individual.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
rerecorded

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Docs uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The Mortgage provided has been corrected; however, the riders are all signed ass an individual and need to be signed in the same capacity as the Mortgage as a Member of the Entity. Please provide corrected riders with evidence for re-recording for review. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2179872

3 of 4

XXXX

Credit

DSCR - Missing background check

XXXX

The file is missing a Fraud Report for the borrower that includes a lien/judgment search for the B1. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LSFM

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Can you please clarify the issue with the XXXX and XXXX search.

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX does not contain lien/judgement searches. Please provide No Hit results. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Guidelines do not require a liens and judgement search. XXXX Manager received is sufficient documentation. (Resolved)

XXXX

2179872

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2175563

1 of 6

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2175563

2 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The lease agreement(s) for the XXXX unit subject property reflects the XXXX as "XXXX." vs. XXXX and/or members XXXX XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Property Mgr signed lease

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
mgt agmt

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide property management agreement. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175563

3 of 6

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

The subject is a XXXX property and the lease agreement for XXXX was not executed by the Property Manager / XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
lease

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2175563

4 of 6

XXXX

Credit

Program Parameters - Other

XXXX

The guidelines indicate no portion of the loan proceeds may be used to pay delinquent property taxes (taxes past due more than XXXX days) on a cash-out refinance transaction. The XXXX did not escrow property taxes for the subject property. The Tax Cert in file reflects XXXX delinquent Village Tax and the Final Hud-XXXX confirms the delinquent tax was paid with loan proceeds.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see correspondence from escrow to confirm no DQ property taxes were paid at closing. DQ portion was for water and sewer charges.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
An explanation was provided by the title company indicating payments were not for delinquent taxes.

Response 1 (XX/XX/XXXX XX:XXAM)
The are property connected delinquencies. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
DR agrees. Payments were for XXXX months of escrowed taxes and a water allotment. (Void)

XXXX

2175563

5 of 6

XXXX

Credit

Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Property Type. The subject is a XXXX unit property and Unit #XXXX is < XXXX sqft (XXXX sqft). Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
sorry see attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Exception not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX XXXX, XXXX months PITI Reserves

XXXX

2175563

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2186196

1 of 3

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was provided in the loan file however, a valid reason was not provided for the additional title fees. Therefore, the addition to the following fees was not accepted: XXXX, Title Recording Fee, Title Examination Fee and Courier/Messenger Fee. A cost to cure in the amount of $XXXX is required. Reimbursement in the amount of $XXXX was provided to sure the Transfer Tax and $XXXX is still due. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Docs provided for Cure

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2186196

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2186196

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2201888

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2201888

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201888

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2169625

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2169625

2 of 5

XXXX

Credit

Credit - Other

XXXX

Verification of monthly child support as indicated per XXXX XXXX, is not documented.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Child support obligation $XXXX was added to the application per guidelines section XXXX. Additional documentation is not required. XXXX attached.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
guideline does not require documentation if the obligation is listed as a debt as we have it on XXXX. Please review again.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
For the child support payments, can you pleaseescalate this and see if we can proceed with using $XXXX for total payments onstatements to avoid having to request additional documentation.

Response 1 (XX/XX/XXXX XX:XXPM)
Section XXXX references a legal source document such as divorce decree, separation agreement, or other written legal document. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Child support withdrawals on the XXXX Bank Statement are not consistent. Unable to determine the accurate monthly amount. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Agree, the guidelines do not state the legal document is required unless the debt is alimony being deducted from income. The provided final application reflects payment $XXXX. (Resolved).

XXXX

2169625

3 of 5

XXXX

Credit

Credit Report - Alerts

XXXX

The credit report contains an extended fraud alert which have not been adequately addressed in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
facta

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2169625

4 of 5

XXXX

Credit

Verification Documentation - VOR

XXXX

Verification of XXXX months rental payments is required. Only XXXX months were provided. As well, the monthly payments per XXXX XXXX are inconsistent with the $XXXX per month reflected on the lease agreement.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, $XXXX reserves, self-employed XXXX years

Compensating factors: XXXX qualifying credit score, $XXXX reserves, self-employed XXXX years

XXXX

2169625

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2184709

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2184709

2 of 4

XXXX

Credit

Assets - Bank Statements

XXXX

The bank and/or asset statements are incomplete. Borrower does not have sufficient assets for cash to close and required reserves. The borrower did receive cash back at closing however this is not a refinance so per the guidelines we could not use the cash to borrower for reserves. To use the business assets since the borrower is not XXXX% owner we would require an equal access letter from the joint owner. Provide sufficient asset documentation to cover the $XXXX (reserves and XXXX XXXX day account).

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Per updated guidelines on XX/XX/XXXX (pg76) the underwriter can multiply the available funds by the borrower’s ownership percentage of XXXX% in lieu of an access letter.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Documentation uploaded.

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide updated guide with XXXX-lighted section. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2184709

3 of 4

XXXX

Credit

Income - Business Tax Returns

XXXX

Copies of signed federal business income tax returns (including all schedules) were not obtained or were not properly retained in the file. This is a full document loan and the income worksheets provided for the borrowers businesses are using tax returns to calculate the qualifying income. Please provide personal returns along with business returns for XXXX, XXXX and XXXX all for XXXX. Once provided income to needs to be calculated and additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
tax returns

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2184709

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2216259

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216259

2 of 4

XXXX

Credit

Program Parameters - Cash-Out Amount

XXXX

Per the final XXXX, tax cert, and rent free letter the borrower is living rent free with no ownership interest at XXXX XXXX XXXX; Guidelines state borrowers that are living rent free and the subject property is an investment no cash out allowed, but the borrower is getting $XXXX cash-out at closing. Additional conditions may apply.

Waived

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: DSCR of XXXX, XXXX qualifying credit score, $XXXX reserves

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2216259

3 of 4

XXXX

Credit

Program Parameters - LTV

XXXX

Per the appraisal and CDA within the loan file the value of the subject property is $XXXX, and the loan amount is $XXXX which is XXXX% LTV/CLTV, but the maximum allowed on a DSCR cash-out refinance is XXXX% LTV/CLTV.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216259

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2167133

1 of 6

XXXX

Compliance

Compliance Finding - Missing Business Purpose Documentation

XXXX

There are additional XXXX. Missing the following Business purpose documentation: The borrower is an entity; however, the file did not include entity documentation.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
entity docs uploaded under other condition

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2167133

2 of 6

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The borrower is XXXX; however, page XXXX of the XXXX states the borrower is XXXX. The borrower should be listed as the entity.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ALR corrected

Response 1 (XX/XX/XXXX XX:XXAM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2167133

3 of 6

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2167133

4 of 6

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing all entity docs as required per guidelines. The loan file did not contain a copy if the filed articles of organization, certificate of good standing or equivalent document, copy of the fully executed operating agreement reflecting the borrower is an authorized signer on behalf of the LLC, or the EIN/W9 as required by guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LLC docs

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167133

5 of 6

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The title commitment/policy is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
tpol

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2167133

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2182220

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2182220

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2182220

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2216257

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216257

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216257

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2210573

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2210573

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210573

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2180065

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX prepayment term, the loan has a XXXX prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2180065

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2180065

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value.

Cleared

XXXX

2189630

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2189630

2 of 3

XXXX

Credit

Interested Party Contribution - Exceeds

XXXX

The Interested Party Contributions exceed allowable guidelines and cause the recalculated LTV to increase above program maximum allowed. Maximum seller contributions allowed per Lender's guidelines were $XXXX. Despite this, the subject closed with seller contributions of $XXXX. Causing the LTV to exceed to XXXX%.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please waive. Total Closing costs were XXXX which includes closing costs paid at closing XXXX, closing costs POC XXXX, and seller paid closing costs XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
After recalculating borrower costs, we agree that the seller contribution of $XXXX matched the borrower costs of $XXXX. This contribution exceeded the maximum allowed XXXX% seller contribution of $XXXX by $XXXX which resulted in an excessive LTV of XXXX%. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX DSCR. XXXX months of reserves.

XXXX

2189630

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2204616

1 of 3

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation)- Rescindable

XXXX

Rescindable Transaction. The loan failed the Initial Closing Disclosure delivery date test due to the following: Without evidence of receipt, it is assumed that the disclosure dated XX/XX/XXXX was mailed, and therefore not received by the consumer XXXX business days prior to the consummation date, XX/XX/XXXX. If disclosure was delivered electronically, evidence of receipt as well as the consumer's E-consent is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see page XXXX and XXXX borrower received it electronically

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2204616

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204616

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2182052

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2182052

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2182052

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2207131

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2207131

2 of 5

XXXX

Credit

Assets - Bank Statements

XXXX

Lender exception in file as the borrower is using joint personal bank statements to qualify income which guidelines state need to be individual if personal bank statements. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
EXCEPTION

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating factors: Borrower has worked in the same job more than XXXX years; Borrower has verified residual income (disposable income) of at least $XXXX per month; CPA LOE confirms XXXX% expense ratio based on review of documents. CPA does not indicate they filed taxes; however, at XXXX% the DTI would reduce and additional residual income would be available.

XXXX

2207131

3 of 5

XXXX

Credit

Income - Rental Property Income

XXXX

Lender exception in file to use the rental income for XXXX; Lease and proof of XXXX months rent in file, but the borrower's letter of explanation states this is due to a verbal agreement with tenant to pay lower rent of $XXXX for minor repairs. Allow full amount of the lease agreement $XXXX without discount for repairs. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
EXCEPTION

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX

2207131

4 of 5

XXXX

Credit

Income Documentation - Mismatch

XXXX

Please provide verification of the CPA's credentials. Guidelines state the CPA/EA/CTEC/Tax Attorney license or tax preparer's PTIN it must be verified with either a copy of their license or online verification which could not be located in the loan file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CPA XXXX from https://ald.nasba.org/

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207131

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2198815

1 of 3

XXXX

Compliance

Note - Signature Discrepancy

XXXX

The subject borrower is an individual; however, the note was signed by the LLC/Member only.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
business documents showing sole proprietorship.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2198815

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guidelines state that if the loan closes in the name of an entity then an executed XXXX is required, but it could not be located within the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
loan guarantee uploaded

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
the note is signed as a member of the LLC and as guarantor

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Loan Agreement provided. Still missing XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
In order for the Note to be the Guaranty, the individual would need to sign as individual as opposed to member. Please provide Guaranty. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2198815

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211647

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211647

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211647

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2199286

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2199286

2 of 3

XXXX

Credit

Title Commitment - Missing/Incomplete

XXXX

The proposed insured amount of $XXXX is missing from the title commitment.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
tpol

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2199286

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. LCA is XXXX.

Cleared

XXXX

2189353

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX . The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2189353

2 of 3

XXXX

Credit

Borrower - (EAD) Risk Category

XXXX

The Borrower is not a US Citizen and provided an Employment Authorization Document (EAD) with a Category of C09. The guidelines for this loan page XXXX of the guidelines is specific that a C09 also requires a visa. The original XXXX for Borrower XXXX has that the borrower is a Permanente Resident however no proof provided in the file. Provide confirmation of either the visa for further review or the borrowers Permanente resident card.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Guidelines do not reference additional documentation being needed

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Perm XXXX provided

Response 1 (XX/XX/XXXX XX:XXAM)
Requirement is an Investor overlay. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2189353

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2180060

1 of 4

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ICD and econsent

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2180060

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the addition to the following fees was not accepted: Broker Fees. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
COC

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2180060

3 of 4

XXXX

Credit

Income - Business Tax Returns

XXXX

Copies of signed federal business income tax returns (including all schedules) were not obtained or were not properly retained in the file.Income at origination was calculated using XXXX's and XXXX's however no personal or business returns where provided to determine the income was calculated correctly. Provide personal and business returns with all schedules along with XXXX's.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
tax returns

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
sorry, attached

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
extensions

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Please provide XXXX extensions for all personal and business returns. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
XXXX XXXX Business Tax extension is not a replacement for the XXXX Federal Tax Return extension. (XXXX)

Response 4 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: $XXXX residual income, XXXX years self-employed, $XXXX reserves

Noted Compensating factors: $XXXX residual income, XXXX years self-employed, $XXXX reserves

XXXX

2180060

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2187211

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2187211

2 of 4

XXXX

Credit

Condo - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
File has FNMA condo project approval which covers this requirement (pg XXXX-XXXX of XXXX pages uploaded).

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
See comments from Condo Reviewer attached to confirm the inspection should not be required here

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
inspections docs attached.

Response 1 (XX/XX/XXXX XX:XXAM)
Project approval does not cover this specific XXXX statute. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Unable to clear based upon information provided. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Building inspection documents provided. (Resolved)

XXXX

2187211

3 of 4

XXXX

Credit

Credit - OFAC Screening

XXXX

The guidelines indicate that an OFAC search is required for borrowers, guarantors and any member of the borrowing entity owning XXXX% or more. The Operating agreement reflects (XXXX) members, XXXX and XXXX. The loan file is missing a clear OFAC search for XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
B2 OFAC

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
updated ofac

Response 1 (XX/XX/XXXX XX:XXAM)
Search type provided was "Entity". Search required for the individual XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2187211

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2182226

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2182226

2 of 5

XXXX

Credit

Assets - Large Deposits/Unacceptable

XXXX

The guidelines indicate unusually large deposits in bank accounts being used to qualify may require a letter of explanation or evidence they are business related. The XXXX #XXXX account reflects an unsourced large deposit of $XXXX on XX/XX/XXXX. The loan file is missing LOE and/or documentation sourcing the large deposit. It should be noted, backing out the $XXXX deposit would create a closing funds shortage of $XXXX and a reserves shortage of $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LD docs provided

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2182226

3 of 5

XXXX

Credit

Final Application - Missing

XXXX

Missing Final XXXX. The loan file contains pages XXXX & XXXX of the Final XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2182226

4 of 5

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

The XXXX in file indicates the Borrower's Primary residence is owned Free & Clear. The property report provided for the Borrowers primary residence located at XXXXXXXX, XXXX XXXX, shows the Borrower holds title with XXXX. The property report reflects a mortgage loan for $XXXXk payable to XXXX, dated XX/XX/XXXX when the property was originally purchased. The loan file is missing a XXXX month VOM for the Borrowers Primary residence or documentation to support the property is owned free & clear from any liens. It should be noted, the Borrower is a First Time Investor and "Living Rent Free" is not permissible.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Property profile shows the primary is in the borrower&#XXXX;s name (i.e. not living rent free) - I have updated the file to show housing payment history. Last payment made XXXX/XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
MTG payment history provided

Response 1 (XX/XX/XXXX XX:XXPM)
Still missing mortgage payment history. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2182226

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX

Cleared

XXXX

2200854

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200854

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200854

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2189354

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2189354

2 of 5

XXXX

Credit

Assets - Other

XXXX

The final application lists the departing home at XXXX, XXXX, XXXX XXXX as pending sale and proceeds to be used for the purchase of the subject property; however, the executed Settlement Statement is missing from the file. Without net proceeds from the sale, funds to close and reserves shortage.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Final SS for primary sold

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2189354

3 of 5

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The credit report is dated XX/XX/XXXX and the loan closed on XX/XX/XXXX. Guidelines require a gap credit or Undisclosed Monitoring report no more than XXXX days prior to the loan closing or any time after closing, and is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
udm, lox

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2189354

4 of 5

XXXX

Credit

Mortgage History - Missing/Incomplete

XXXX

Guidelines require the borrower's primary residence to be current at the time of the application and the month prior to the note date. The note date is XX/XX/XXXX and the last payment made per the mortgage statement with XXXX was on XX/XX/XXXX which is not the month prior to the note date as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Proceeds from that sale were used for this loan closing so we don’t have bank statements to confirm the payment was made on XXXX/XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
HUD-XXXX provided from sale of departure.

XXXX

2189354

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2199299

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2199299

2 of 3

XXXX

Credit

Appraisal - Other

XXXX

The subject property is a flip transaction with a resale price increase above the threshold. Per guidelines, the appraisal must have commentary provided by the appraiser on the following and is not in the appraisal report: Describe in detail any improvements made since the prior sale; Estimate the cost of the improvements made; Estimate the impact of the improvements on the property value; and Provide an appropriate explanation of the increase in the property value, considering the impact of improvements, if any, on value, as well as any recent price trends or changes in local market conditions. If the appraisal commentary is not sufficient to support the increase and the increase is due to renovations, sufficient documentation (Receipts, plans and specifications, building permits and/or signed contracts) to validate the actual costs to renovate, construct, etc. is required. The loan file does not contains improvement documentation in lieu of the appraisal commentary required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Title confirms this was not a property flip- the sellers have owned the subject property since XXXX and placed the property with a quit claim deed to a business name of XXXX LLC- same owners.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2199299

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211665

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loanhas a prepayment term that does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX months prepayment term, the loan has a XXXX month prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC

Acknowledged

XXXX

2211665

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211665

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2201874

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201874

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The Lender's guidelines state that the maximum LTV with a XXXX and DSCR > XXXX-0.99 (exception basis only) is XXXX%. Audit DSCR is XXXX% and subject loan closed with an LTV of XXXX%. Furthermore, the Lender's guidelines state that the maximum LTV without XXXX year experience operating a short term rental is XXXX%.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Rent calculation for DSCR ratio per the Air DNA attached. Short term rental experience documentation attached as well.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please explain the comment regarding the confidence score.

Response 1 (XX/XX/XXXX XX:XXAM)
Air DNA confidence score is XXXX%. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The XXXX% is actually a submarket score rating the neighborhood for STR. The XXXX has been recalculated and the final DSCR is XXXX. Finding resolved.

XXXX

2201874

3 of 4

XXXX

Credit

Interested Party Contribution - Exceeds

XXXX

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
No cure should be needed, as we can include items paid in advance by seller in this calculation. This would include items in section K which bring the total closing costs to XXXX.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
The closing costs on this loan exceeded the seller credit.

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX contribution of $XXXX reflected on HUD-XXXX is excessive. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
DR agrees. Finding voided. (Void)

XXXX

2201874

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2216587

1 of 5

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider is missing: Assignment of Leases and XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ALR corrected

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216587

2 of 5

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2216587

3 of 5

XXXX

Credit

Credit - OFAC Screening

XXXX

The loan file does not contain evidence the other XXXX% owner of the LLC, as reflected on the Note, passed the OFAC screening process as required per the guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216587

4 of 5

XXXX

Credit

Credit - Other

XXXX

There are additional observations that could impact the credit decision and/or quality of the loan. The loan file did not contain a UDM/Undisclosed Debt Monitoring Report as required per the guidelines.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
UDM is not required on DSCR loans

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2216587

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX that supported the value.

Cleared

XXXX

2182037

1 of 6

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2182037

2 of 6

XXXX

Credit

Contract - Concessions

XXXX

The Closing Disclosure reflected the seller paid $ XXXX towards the buyers closing cost. The addendum to the purchase contract supporting the seller contributions was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Hello, we have a CD signed by the buyer and seller to show the credit was agreed upon. Our guidelines do not require a contract addendum for this. Please waive the condition. TY!

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2182037

3 of 6

XXXX

Credit

Credit - Other

XXXX

The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed debt monitoring report no more than XXXX days prior to the loan closing or any time after closing. The undisclosed debt monitoring report was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
TY!

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2182037

4 of 6

XXXX

Credit

Verification Documentation - VOE Self-Employed/Missing

XXXX

The subject was a XXXX month business bank statement loan for a self-employed borrower with XXXX. The final XXXX indicated that the borrower had been self-employed with XXXX for XXXX years. The XXXX and XXXX. business search for XXXX indicated business was opened XX/XX/XXXX. The lender guidelines allowed less than XXXX years of business existence with documentation of a minimum of XXXX years history in the same lime of work or related profession prior to starting their new business. It appears that the borrower may have changed the business name from XXXX to XXXX; however, documentation to support the prior business was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please find the attached CPA letter confirming the business is more than XXXX years old. TY!

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Sorry, please see the attached. TY!

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2182037

5 of 6

XXXX

Credit

Verification Documentation - VOR

XXXX

Borrower rents at his current primary resident. A VOR from a party oarty was provided. Investor guidelines required proof of XXXX months payments of rent payments with cancelled checks, bank statements or pay histories (XXXX, XXXX, etc). Documentation was unable to be provided. The file contained a lender exception to allow missing the required documents; however, XXXX of the compensating factors; borrower has worked in the same job for more than XXXX years and in the same industry for more than XXXX years was not supported with the file documentation.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached CPA letter confirming age of business. In addition to this to help support the exception the DTI on this loan is under XXXX% and more than XXXX% under the maximum.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Sorry, please see the attached. TY!

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
The exception request was cancelled as it was no longer needed. File was re-reviewed in underwriting and documents obtained to account for the full housing payment history. Could you please see pages XXXX-XXXX of the initial uploaded XXXX pages? The underwriter also uploaded an email she sent to LO for clarification on the VOR.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
CPA Letter does not contain the beginning self-employment date to confirm XXXX years of self-employment as a comp factor. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
File documentation does reflect XXXX months payments verified on bank statements. (Resolved)

Compensating factors: Residual income of $XXXX per month, low DTI of XXXX%, LTV of XXXX% is XXXX points less than the maximum allowed.

XXXX

2182037

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value.

Cleared

XXXX

2198816

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2198816

2 of 3

XXXX

Credit

Title Commitment - Other

XXXX

The "XXXX" reflected on the appraisal is different from the current vesting on the title commitment and the XXXX reflected in the purchase agreement.The appraisal reflects the current owner as "XXXX". The purchase agreement reflects XXXX as the seller, as well as the current vesting on the title commitment. The loan file is missing a quit claim/warranty deed or other documentation to support the transfer of property ownership from the XXXX to XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
See email and documentation from settlement agent.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2198816

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU Score is XXXX.

Cleared

XXXX

2204646

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204646

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204646

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2206740

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206740

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206740

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2216607

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216607

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216607

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2189322

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
cure docs

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2189322

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2189322

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2182238

1 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2182238

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX prepayment term, the loan has a XXXX prepayment term. Borrower is an LLC.

Acknowledged

XXXX

2182238

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2182238

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2189660

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2189660

2 of 5

XXXX

Compliance

State HPML

XXXX

This loan failed the XXXX rate spread home loan test. (XXXX GS §XXXX-XXXXF(a)(XXXX)) The loan is a rate spread home loan, as defined in the legislation. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2189660

3 of 5

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: Recording Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CURE

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2189660

4 of 5

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The mortgagee clause incorrectly reflects the lender as XXXX. The lender should be XXXX..

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
We currently ownthe loan, so it is appropriate that we are the mortgagee.

Response 1 (XX/XX/XXXX XX:XXAM)
Agree. Finding voided. (Void)

XXXX

2189660

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2189373

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2189373

2 of 5

XXXX

Credit

Credit - Other

XXXX

The borrowers income was calculated from XXXX months of business bank statements. Additionally, the required funds for the transaction were from business bank statements. A CPA letter was provided to support the borrowers ownership percentage in his self employed business. The CPA letter also confirmed the use of business funds for the required funds would not negatively impact the business. The investor guidelines required the CPA license to be verified with by copy of the license or screen shot from a state licensing authority. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
License verified

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2189373

3 of 5

XXXX

Credit

Credit Report - Other

XXXX

The Note was dated XX/XX/XXXX. The lender guidelines required a gap credit or undisclosed monitoring report no more than XXXX days prior to the loan closing or any time after closing. Gap credit was not provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
LQDM

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2189373

4 of 5

XXXX

Credit

Program Parameters - LTV

XXXX

The borrower is a First Time Homebuyer and currently lives rent free for XXXX years and XXXX months. The investor guidelines restrict the maximum LTV to XXXX% for borrowers living rent-free at any point in the last XXXX months. Subject loan closed with an LTV of XXXX%.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
see approved exception

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. $XXXX per month residual income. XXXX months of reserves.

XXXX

2189373

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value.

Cleared

XXXX

2189366

1 of 5

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The Notary Acknowledgment is inaccurate, the Borrowers dated their signature XX/XX/XXXX; however, the Notary's Acknowledgment date is XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Doc provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2189366

2 of 5

XXXX

Credit

Credit - Other

XXXX

The borrower's income was qualified using XXXX months of bank statements. A CPA letter was utilized to confirm the business expense ratio. The investor guidelines required the CPA license to be verified with by copy of the license or screen shot from a state licensing authority. Required documentation was not provided.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
doc provided

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2189366

3 of 5

XXXX

Credit

Credit Report - Other

XXXX

The Note was dated XX/XX/XXXX. The lenderguidelines required a gap credit or undisclosed debt monitoring report no morethan XXXX days prior to the loan closing or any time after closing. Theundisclosed debt monitoring report was not provided as required

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
UDM provided

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2189366

4 of 5

XXXX

Credit

Income - Other

XXXX

The subjects income was calculated from XXXX months of business bank statements. A CPA letter was provided to support the business expense ratio. The investor guidelines required the CPA letter to attest they had prepared the borrower's tax returns for the most recent year. CPA letter provided does not state the tax returns were filed by the CPA as required. It should be noted that using the standard business expense ratio of XXXX% would result in a DTI of XXXX%, exceeding the maximum allowed per the guidelines.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, $XXXX reserves, $$XXXX residual income

Compensating Factors: XXXX qualifying credit score, $XXXX reserves, $$XXXX residual income

XXXX

2189366

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2184717

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The borrower sign date, XX/XX/XXXX, for the Assignment of Leases and XXXX, and Prepayment Rider does not match the notary date of the security instrument, XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Recorded MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2184717

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2184717

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2184716

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The borrower sign date, XX/XX/XXXX, for the Prepayment Rider does not match the notary date of the security instrument, XX/XX/XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
recorded MTG

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2184716

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2184716

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2211650

1 of 5

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced XXXX is missing: Exhibit A/ Legal Description.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
EXHIBIT A

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2211650

2 of 5

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The loan file is short funds to close by $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please see the gift letter and wire confirmation.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
please see updated statements

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX was not provided. In addition, funds will still be $XXXX short with a $XXXX gift wire. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211650

3 of 5

XXXX

Credit

Assets - Minimum Reserves

XXXX

Sufficient reserves to meet underwriting requirements and PITI were not verified in the file. Per guidelines, XXXX months reserves are required. The loan file is short by $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see the uploaded statements

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211650

4 of 5

XXXX

Credit

Title Commitment - Other

XXXX

The proposed insured and insured amount is incorrect on the title commitment. The proposed insured should reflect XXXX a Corporation and proposed amount should be reflect $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see attached title report docs with correct loan amount

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211650

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2198837

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2198837

2 of 5

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: Appraisal fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
cure docs

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2198837

3 of 5

XXXX

Credit

Assets - Bank Statements

XXXX

The bank and/or asset statements are incomplete. Currently using assets from XXXX. Balance being used is from XX/XX/XXXX however missing transaction history from XX/XX/XXXX - XX/XX/XXXX. Provided transaction history covering those dates to support assets being used for closing and reserves.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
stmt XXXX

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2198837

4 of 5

XXXX

Credit

Program Parameters - Other

XXXX

The subject loan does not meet Program Parameters. Income - Borrower is qualifying using XXXX income however per the guidelines since the XXXX income is in the business name the borrower needs to be XXXX% owner. Documentation provided states that the borrower is only XXXX% owner which would not allow any use of income. Provide clarification of borrowers ownership to confirm that the borrower is XXXX% owner of the business. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
here is the correct bus narr form. Borrower is XXXX% owner

Response 1 (XX/XX/XXXX XX:XXAM)
Updated Narrative agrees with the XXXX% ownership reflected on the Operating Agreement. (Resolved)

XXXX

2198837

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2201881

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201881

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201881

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2187242

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

This loan failed the higher-priced mortgage loan test. (12 CFR § 1026.35(a)(1)). Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX The date rate set is XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment and appraisal requirements have been met.

Acknowledged

XXXX

2187242

2 of 4

XXXX

Credit

Assets - Minimum Reserves

XXXX

Sufficient reserves to meet underwriting requirements and PITI were not verified in the file. The subject loan is a purchase of a primary residence with a sales price of $XXXX under the Bank Statement program. The loan file contained documentation verifying the borrowers assets to be $XXXX and gift funds in the amount of $XXXX. The guidelines required the borrower to have a minimum of XXXX% ($XXXX) of their own funds verified plus XXXX months reserves ($XXXX) for a total required verified borrower assets of $XXXX. Although the minimum XXXX% is not required to be used for the down payment, and the guidelines do not permit gift funds to be used towards the reserve requirement. Therefore, the borrower is short the required minimum investment and reserves of $XXXX. ***additional conditions may apply ***

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Funds to close: $XXXX - Gift: $XXXX = $XXXX. Funds verified: $XXXX - $XXXX= $XXXX. Reserves required: $XXXX. Per guidelines: "If the minimum borrower contribution is not used towards the down payment, those funds can be used towards reserves. "

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2187242

3 of 4

XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LQDM

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2187242

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX.

Cleared

XXXX

2216616

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2216616

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216616

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2204617

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204617

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204617

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206749

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206749

2 of 3

XXXX

Credit

Program Parameters - LTV

XXXX

Per the final XXXX the B2; XXXX has been living rent free at XXXX XXXX, XXXX XXXX for the past XXXX years. Guidelines state if any of the borrowers have living rent free in the past XXXX month the maximum allowed LTV/CLTV is XXXX% but the loan closed at XXXX% LTV/CLTV. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
EXCEPTION

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX% DTI. $XXXX per month residual income. XXXX months of reserves.

XXXX

2206749

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206747

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206747

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206747

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2192482

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2192482

2 of 4

XXXX

Credit

Credit - Other

XXXX

Guidelines state the maximum interested party contributions are XXXX% of the purchase price being the LTV/CLTV is at XXXX% which is $XXXX. Per the final CD the seller paid closing costs reflect the seller contributions as $XXXX which is $XXXX over the maximum allowed. Additional conditions may apply..

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception approved for this.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: Borrower has worked on the same job more than XXXX years; Borrower has worked in the same industry more than XXXX years;

XXXX

2192482

3 of 4

XXXX

Credit

Verification Documentation - VOR

XXXX

Lender exception in file as the borrower pays cash for rent and cannot verify XXXX months past housing payments. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: Borrower has worked on the same job more than XXXX years; Borrower has worked in the same industry more than XXXX years;

XXXX

2192482

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2201890

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2201890

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201890

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2201886

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201886

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Lender exception in file as the LLC has XXXX members/owners when guidelines allow for a maximum of XXXX members/owners. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

FICO higher than XXXX and at least XXXX points higher than guideline minimum; Monthly reserves verified and at least XXXX months more than guidelines; Housing history is 0x30x24

XXXX

2201886

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211648

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211648

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211648

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216260

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216260

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216260

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2204618

1 of 4

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ICD

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2204618

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: XXXX Paid Broker Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
ICD disclosing broker fee change

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2204618

3 of 4

XXXX

Credit

Appraisal - Other

XXXX

Lender exception in file as this is an appraisal "re-use" on a refinance transaction. Client to approve downgrading finding based on compensating factors.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception originally requested end of XXXX/XXXX and withdrawn. No longer required as a new appraisal was ordered, please see dates, appraisal ordered XXXX/XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Resolved)

Compensating factors: LTV less than XXXX% and at least XXXX% less than the guideline maximum; Monthly reserves are verified and at least XXXX months more than the guideline minimum; Borrower has worked in the same job more than XXXX years; Borrower has worked in the same industry more than XXXX years

XXXX

2204618

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2200856

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200856

2 of 3

XXXX

Credit

Program Parameters - Credit Score

XXXX

Guidelines state a minimum mid FICO XXXX is required for financing, the credit report within the loan file is dated XX/XX/XXXX and reflects the borrowers mid FICO score as XXXX. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception approved

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Waived)

$XXXX per month residual income. XXXX months of reserves.

XXXX

2200856

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2200867

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200867

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

XXXX provided for foreign assets not seasoned in XXXX account for XXXX days. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The exception from XXXX/XXXX was approved, the updated from XXXX/XXXX was no needed.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: Borrower has worked in same job more than XXXX years, Residual income exceeds $XXXX

XXXX

2200867

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2199296

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: XXXX Broker Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDs for broker fee changes

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2199296

2 of 3

XXXX

Credit

Income - Miscalculated/DTI within Tolerance

XXXX

The income is miscalculated on one or more borrowers resulting in a DTI that exceeds allowable tolerances (XXXX%) or DTI MAX. This is a manual underwrite and the borrowers income is still within guideline requirements and there is nothing further to do on this file at this time.

Cleared

XXXX

2199296

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2200863

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200863

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for Property Type and for being Rural. The Origination Appraiser indicated the subject property is a Rural property and also A-Frame Cabin which is considered a unique property. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating factors: XXXX higher than XXXX, and at least XXXX points higher than guideline minimum, monthly reserves verified and at least XXXX months more than guideline minimum.

XXXX

2200863

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2196897

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The Assignment of Rents is not in the name of the Trust.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
rerecorded

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2196897

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2196897

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2204620

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204620

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204620

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206742

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206742

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206742

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206966

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206966

2 of 3

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The borrower is currently short $XXXX for cash to close and reserves. The borrower has an additional XXXX account listed on the final XXXX however no supporting documents provided. Assets listed on the XXXX is XXXX/XXXX with a balance of $XXXX. Provide sufficient assets to support the asset listed or current assets with sufficient funds to cover the $XXXX needed for closing and reserves. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
see XXXX statement, accidently left out of delivered file

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206966

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2189663

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2189663

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Credit Report Fee increased on revised LE XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Invoice shows we were made aware XXXX/XXXX of change and re-disclosed within XXXX days of increase. can you also please confirm cure date?

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
The partner did not upload invoices until XXXX/XXXX, they submitted the COC on XXXX/XXXX and it was disclosed in good faith based on the COC date of XXXX/XXXX, we relied on the best available information we had at the time since we could not make any determination of when the service was performed; no cure should be needed.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
cure provided

Response 1 (XX/XX/XXXX XX:XXPM)
The Invoice provided in the original loan file disclosing the Credit Report increase is dated XX/XX/XXXX and was not disclosed until the CD LE issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The Invoice provided in the original loan file disclosing the Credit Report increase is dated XX/XX/XXXX and was not disclosed until the LE issued on XX/XX/XXXX; even if the COC was not provided until XX/XX/XXXX, it was not disclosed within XXXX days as required. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2189663

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2189663

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2189352

1 of 3

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

This loan failed the charges that in total cannot increase more than XXXX% test. (12 CFR §1026.19(e)(3)(ii)). A valid change of circumstance was not provided in the loan file; therefore, the increases to the following fees were not accepted: Title - Title Search/Abstract, Title - Admin/Processing, Title - Lender's Title Insurance, Title - Recording and Title - Settlement. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
ILE baseline of XXXX% is XXXX final CE fees are $XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Title fees of $XXXX + recording $XXXX is total $XXXX and XXXX% = $XXXX Minus total title fees and recording is XXXX therefore cure of only $XXXX needed

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
Doc provided showing baseline. Please confirm cure date

Rebuttal 4 (XX/XX/XXXX XX:XXPM)
PCCD docs provided

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The Initial LE issued on XX/XX/XXXX discloses Title fees in the amount of $XXXX, XXXX and Recording Fee of $XXXX for a total of $XXXX, XXXX. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The baseline for comparison purposes is $XXXX. The closing protection letter and endorsements that were on the Initial LE are not included in the baseline since they were not charged at closing. Per 1026.19(e)(3)(ii)-XXXX, calculating the aggregate amount of estimated charges will not include fees that are not ultimately charged. Cost to cure of $XXXX remains. Please note cure is only available within XXXX days of discovery. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The itemization of fees provided for the correct baseline on the Initial LE is incorrect. The itemization states there was a Recording/E-recording Service disclosed on the LE issued on XX/XX/XXXX in the amount of $XXXX and decreased to $XXXX on the Final CD. The Initial LE discloses the Title - Lender Endorsements in the amount of $XXXX and no Recording/E-recording fee; they are not the same fees. A cost to cure in the amount of $XXXX remains. The date of discovery was XX/XX/XXXX and must be cured with XXXX days of this date. (XXXX)

Response 4 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2189352

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2189352

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2201876

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201876

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201876

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2196673

1 of 4

XXXX

Compliance

Security Instrument - Missing Rider/Addendum

XXXX

The following referenced Rider is missing: Renewal and Extension Rider.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
affidavit recorded to confirm there should not be a R&E rider attached to the security instrument.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2196673

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

This loan failed the charges that cannot increase test. (12 CFR §1026.19(e)(3)(i)). Because the change occurred on XX/XX/XXXX and the consumers were not provided the disclosure within XXXX days of the change, the increase to the following fee was not accepted as valid: Appraisal on the revised CD issued on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
This is a transferred appraisal, and the increase was re-disclosed within XXXX days of the letter, therefore no cure should be needed.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
cure

Response 1 (XX/XX/XXXX XX:XXPM)
he documentation provided is not sufficient to clear the finding. The XXXX letter is a valid reason for an increase; however, the letter is dated XX/XX/XXXX and the increase was not disclosed until XX/XX/XXXX. This is not within XXXX days of knowledge. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2196673

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2196673

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2196668

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fees was not accepted as valid: Credit Report XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CURE DOCS

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2196668

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2196668

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2206748

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206748

2 of 3

XXXX

Credit

Program Parameters - LTV

XXXX

Lender exception in file as the subject loan does not meet the program parameter's the borrower has been living rent free for over XXXX months; Guidelines state max LTV/CLTV XXXX% but the loan closed at XXXX% LTV/CLTV.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: FICO is XXXX, and at least XXXX points higher than the guideline minimum; Monthly reserves are verified and at least XXXX months more than guideline minimum; XXXX less than XXXX% and at least XXXX% less than guideline minimum; Borrower has verified residual income (disposable income) of at least $XXXX a month

XXXX

2206748

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2198827

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2198827

2 of 3

XXXX

Credit

Income - Other/Missing

XXXX

Per Lender's guides, the CPA/EA/CTEC/Tax Attorney license or Tax preparer’s PTIN must be verified with either a copy of their license or an online verification. The loan file obtains a letter from a Tax Preparer dated XX/XX/XXXX; however, the loan file does not contain verification of the Tax Preparer's license as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PTIN

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2198827

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2199283

1 of 6

XXXX

Compliance

TRID - CD/Lender Credits that Cannot Decrease (No Valid COC)

XXXX

The loan failed the Lender Credits that Cannot Decrease Test. The lender credit decreased on the CD XX/XX/XXXX without a valid change of circumstance. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
notice of change in program

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2199283

2 of 6

XXXX

Credit

Credit - Other

XXXX

The co-borrower's address on the application and her driver's license is XXXX; which is a different address than what is listed for the borrower. Documentation to verify the co-borrower has no financial obligation to this property is required. If the housing expense for this property is paid by the business then XXXX months proof that the obligation was paid out of business funds is required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
customer LOE explains address and residence

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2199283

3 of 6

XXXX

Credit

Debts - Not Verified

XXXX

The application lists a significant debt that was not verified and included into ratios. There is a mortgage with XXXX listed on the borrower's credit report that has a balance of $XXXX and a payment of $XXXX. The final application does not list the property address associated with this property and the mortgage statement is missing from the loan file. The mortgage statement which reflects the property address and the full housing expense is required or documentation to support why the property was excluded from ratios would be needed.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
LOE for XXXX, debt included into ratios, borrower does not own the land, this is why it is not associated to a property on the XXXX, please review and clear

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2199283

4 of 6

XXXX

Credit

Program Parameters - LTV

XXXX

The LTV does not meet the program eligibility guidelines. The loan file contains a letter from the borrower's surrogate brother that details the borrower resides at a home he currently owns and has no financial obligation. This would be considered living rent free. Per the rent free guidelines max LTV is XXXX%. The loan was approved with an LTV of XXXX% which exceeds the guideline maximum LTV for a rent free borrower.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: Residual Income greater than $XXXX

XXXX

2199283

5 of 6

XXXX

Credit

Program Parameters - Other

XXXX

XXXX in file to allow XXXX business bank accounts for XXXX. with one business bank account not having a full XXXX months. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (XXXX)

Compensating Factors: Residual Income greater than $XXXX

XXXX

2199283

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated, XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2196671

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the addition to the following fees was not accepted: Collateral Desktop Analysis Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CDA fee disclosed on XXXX/XXXX. See detailed COC form.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2196671

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2196671

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated 7.1.26, which supports the appraised value.

Cleared

XXXX

2201875

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201875

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201875

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraised value.

Cleared

XXXX

2189656

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2189656

2 of 3

XXXX

Credit

Verification Documentation - VOR

XXXX

Per the final XXXX the borrowers have been living rent free for the past XXXX months at XXXX XXXX, XXXX XXXX. Guidelines state if the borrower(s) are living rent-free at any time within the past XXXX months; The maximum allowed LTV/CLTV is XXXX% but the loan closed at XXXX% LTV/CLTV.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception appproved

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX, $XXXX reserves, 0x30 mortgage history

XXXX

2189656

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2196899

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Appraisal fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
cure docs

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2196899

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2196899

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211649

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211649

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211649

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2198826

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section of the Security Instrument (Mortgage/Deed of Trust) is incomplete: The notary acknowledgment does not state if the borrower(s) were acknowledged remotely online or in physical presence.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
corrected before recording

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2198826

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2198826

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2200855

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200855

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200855

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206741

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206741

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206741

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2198848

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

This loan failed the prepayment test. The loan has a prepayment term does not conform to the State Regulations where the property is located. The state of XXXX allows for a maximum XXXX Months prepayment term, the loan has a XXXX Months prepayment term. The loan fails the prepayment test by XXXX months. Borrower is an LLC.

Acknowledged

XXXX

2198848

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

XXXX provided for waiver of the second appraisal with the CDA being outside of XXXX% variance tolerance (XXXX%). Client to approve downgrading finding based on compensating factors.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception was no longer required as a field review was ordered.

Response 1 (XX/XX/XXXX XX:XXAM)
Additional secondary valuation product supports within 10%. Downgraded to EV2 rating. (Resolved)

Compensating Factors: XXXX, XXXX+ Reserves

XXXX

2198848

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a Field Review, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2204619

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204619

2 of 3

XXXX

Credit

Verification Documentation - VOE/Missing

XXXX

A VOE is missing from the loan file. The loan file is missing a VOE for the: borrower. The XXXX has that Borrower 1 is self-employed however the documents provided are paychecks and XXXX's. It does not appear that the borrower is self-employed. If the borrower is self-employed we would need to determine the borrowers income using personal and business returns along with a P&L from the most recent year. If the borrower is not self-employed please provide a VOE dated within XXXX days of closing. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Verbal verification of employment for borrower XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2204619

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2207133

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207133

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207133

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2201877

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2201877

2 of 4

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums is missing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) Although the flood notice was located in the file, there is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing.

Acknowledged

XXXX

2201877

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201877

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2207138

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2207138

2 of 4

XXXX

Credit

Assets - Minimum Reserves

XXXX

Assets were required in the amount of $XXXX ($XXXX EMD + $XXXX funds due at closing + $XXXX reserves). Assets were verified in the amount of $XXXX (XXXX acct XXXX $XXXX + XXXX acct XXXX $XXXX + EMD $XXXX) resulting in short reserves in the amount of $XXXX. Please provide the most recent XXXX month’s asset statement verifying an additional $XXXX in verifiable liquid assets. Additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Escalated.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2207138

3 of 4

XXXX

Credit

Program Parameters - DTI

XXXX

Per the Note in the loan file the loan closed as an adjustable rate mortgage with a start rate of XXXX% and a maximum rate of XXXX%; Guidelines state to qualify the borrower(s) with the greater of the Note or fully indexed rate. When the fully indexed rate of XXXX% is used to qualify the DTI (debt to income ratio) goes to XXXX XXXX allowed DTI at XXXX% LTV/CLTV is XXXX%. Additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Escalated.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2207138

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206964

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206964

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206964

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210574

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2210574

2 of 3

XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
UDM report uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2210574

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2201885

1 of 3

XXXX

Compliance

Note - Missing

XXXX

The Note is missing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Note

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2201885

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

The final executed copy of the mortgage Note could not be located within the loan file. Please provide, additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Note

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2201885

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206743

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206743

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206743

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2200859

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200859

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200859

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2206744

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206744

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

XXXX provided for subject being in commercial zoning. There is commercial space in the project XXXX%; XXXX commercial units/suites. Client to approve downgrading finding based on compensating factors.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Looks like the exception was canceled because the commercial space was below XXXX%.

Response 1 (XX/XX/XXXX XX:XXAM)
Agree. Per the appraiser, subject property is residential in nature, highest and best use for property as improved is present use, legal zoning, subject has XXXX units with only XXXX being commercial space which is <XXXX%. Subject project is FNMA approved through XX/XX/XXXX. Exception was not required. Finding voided (Void).

XXXX

2206744

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2201878

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201878

2 of 3

XXXX

Credit

Assets - Minimum Reserves

XXXX

Assets were required in the amount of $XXXX ($XXXX EMD + $XXXX funds due at closing + $XXXX reserves). Assets were verified in the amount of $XXXX (XXXX $XXXX + EMD $XXXX) resulting in short reserves in the amount of $XXXX. Please provide the most recent XXXX month’s asset statement verifying an additional $XXXX in verifiable liquid assets. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX. XXXX% DTI.

XXXX

2201878

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2207143

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2207143

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207143

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2200857

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2200857

2 of 4

XXXX

Compliance

State HPML

XXXX

This loan failed the XXXX COMAR higher-priced mortgage loan test. (XXXX COMAR 09.03.06.02B(XXXX), COMAR 09.03.09.02B(XXXX))Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the Code of XXXX Regulations (COMAR). The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2200857

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200857

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216597

1 of 3

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The following section(s) of the Security Instrument (Mortgage/Deed of Trust) is incomplete: Security Instrument is missing page XXXX of XXXX; signature/notary page.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Recorded DOT with full page

Response 1 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2216597

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216597

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2198840

1 of 4

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Recording Fees (XX/XX/XXXX). A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
coc uploaded

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
both the initial and closing CD estimate the recording fee to be $XXXX, please review to clear condition

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
PCCD - thank you

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The COC provided is dated XX/XX/XXXX and does not address the increase to the Recording fee; also, the recording fee increased on the LE issued on XX/XX/XXXX. Please provide a valid COC for review. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The the recording fee increased on the LE issued on XX/XX/XXXX to $XXXX without a vaid COC and did decrease to $XXXX on the Final CD; however, the baseline waas created on the Initial LE at $XXXX. Please provide a valid COC for review for the increase on XX/XX/XXXX. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2198840

2 of 4

XXXX

Credit

DTI - Exceeds Guidelines

XXXX

Lender exception in file to allow DTI of XXXX% with LTV XXXX% when maximum DTI is XXXX%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception approved XX/XX/XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
We do have the exception, I uploaded re-uploaded it to the system the other day, does it need updated.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
uploaded approval

Response 1 (XX/XX/XXXX XX:XXPM)
Exception must be granted by Investor. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The exception provided is from the lender. The exception must also be approved by the investor. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX. XXXX months of reserves. $XXXX per month residual income.

XXXX

2198840

3 of 4

XXXX

Credit

Income - Insufficient Documentation

XXXX

The borrower provided XXXX months statements from their XXXX #XXXX which was used for the business prior to opening the XXXX bank account #XXXX. The end and start dates of MB #XXXX do not reflect a full month due to the start dates starting and ending around the 10th of each month. In order to accurately calculate the deposits received each month we would need to review the complete month. The earliest statement dates is XX/XX/XXXX -XXXX/XXXX/XXXX; however we are not able to determine all deposits received in June XXXX from this statement. The prior bank statement with an end date of XX/XX/XXXX would be needed to review all deposits received June XXXX to complete a full XXXX month review.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
per guides XXXX-orXXXX month complete bank statements must be in the file from the same account. evidence that an account was moved to a new intuition is acceptable, however co-mingling of multiple accounts to generate a full a full XXXX or XXXX months is not permitted. we are required to have XXXX months of statements not XXXX complete calendar months

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2198840

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211666

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211666

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211666

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2211651

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211651

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211651

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2201879

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201879

2 of 4

XXXX

Credit

Program Parameters - Financed Properties

XXXX

Per the final XXXX the borrower’s primary residence at XXXX is owned free and clear. Guidelines state if a borrower owns a property free and clear; A property profile report or similar document showing no liens against the property should be provided but could not be located within the loan file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The Property profile is attached that confirms no lien

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2201879

3 of 4

XXXX

Credit

Program Parameters - Financed Properties

XXXX

Per the final XXXX the land owned at XXXXXXXX, XXXX XXXX is free and clear. Guidelines state a property profile report or similar document showing no liens against the property should be provided, but could not be located within the loan file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The Property profile is attached that confirms no lien

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2201879

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2207134

1 of 3

XXXX

Compliance

Disclosures Federal - Late

XXXX

The is no evidence in the loan file the Notice of Flood was received by the borrower no later than XXXX calendar days before closing.

Acknowledged

XXXX

2207134

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207134

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211654

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211654

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211654

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2207144

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2207144

2 of 3

XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
UDM

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2207144

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2204630

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR (XXXX%) and the calculated APR (XXXX%), the loan a higher-priced mortgage loan, as defined in XXXX Rate Set was XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2204630

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX; Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2204630

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204630

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2204634

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204634

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204634

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2198839

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

This loan failed the charges that cannot increase test. (12 CFR §1026.19(e)(3)(i)). A valid change of circumstance was not provided in the loan file; therefore, the increase to the following fee was not accepted: Second Appraisal on the LE issued on XX/XX/XXXX. Additionally, the Appraisal Services Summary document reflected that the new amount was collected from the borrower on XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumers, PCCD, copy of the refund and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Cure

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2198839

2 of 3

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

The credit report is dated XX/XX/XXXX. The loan closed on XX/XX/XXXX. Guidelines require a gap credit or Undisclosed Debt Monitoring report no more than XXXX days prior to the loan closing or any time after closing, and is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
UDM

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2198839

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a 2nd full appraisal which supports the appraised value.

Cleared

XXXX

2216258

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216258

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216258

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2206965

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206965

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206965

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2211652

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211652

2 of 3

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. Borrower is currently short for reserves in the amount of $XXXX. Using proceeds from refinance and assets in the XXXX accounts XXXX and XXXX. Provide sufficient assed to cover the remaining reserves in the amount of $XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Proposed PITIA is XXXX*XXXX = XXXX. Please find attached signed XXXX. $XXXX is XXXX months PITIA of current expense. Loan is cashout refinance.

Response 1 (XX/XX/XXXX XX:XXAM)
XXXX months of reserves are $XXXX as opposed to $XXXX. Shortage is $XXXX. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Rebuttal suggests that the interest only payment would be used to calculate the payment and reserves. Guides require that reserves be based upon the fully amortized payment. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: XXXX qualifying credit score, subject property owned XXXX years, self-employed XXXX years, 0x30x88 mortgage history

Compensating factors: XXXX qualifying credit score, subject property owned XXXX years, self-employed XXXX years, 0x30x88 mortgage history

XXXX

2211652

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2206745

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206745

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206745

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2211660

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211660

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211660

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX6 that supports the appraised value.

Cleared

XXXX

2200858

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200858

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200858

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2201883

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201883

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201883

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA date XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2204650

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204650

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204650

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210587

1 of 5

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210587

2 of 5

XXXX

Credit

Gift Letter - Donor Ability

XXXX

Lender exception in file as the gift funds from the brother and spouse are unseasoned on a non-arms length transaction. Client to approve downgrading finding based on compensating factors.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
It appears an exception was submitted for review on the file. Please review and advise. Thank you for your help.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver not required. Finding is invalid. Gift funds are fully documented in the file. (Void)

XXXX

2210587

3 of 5

XXXX

Credit

Program Parameters - Loan Purpose

XXXX

Guidelines state that if the transaction is non arms-length between family members the XXXX month mortgage payment history for the family member on the subject property needs to be provided to verify the family sale not a foreclosure bail-out. Additional conditions may apply.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
It appears an exception was submitted for review on the file. Please review and advise. Thank you for your help.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating factors: FICO higher than XXXX, AND at least XXXX points higher than guideline minimum; Monthly reserves are verified and at least XXXX months more than the guideline minimum; Borrower has worked in the same job more than XXXX years; Borrower has worked in the same industry more than XXXX years

XXXX

2210587

4 of 5

XXXX

Credit

Verification Documentation - VOR

XXXX

Lender exception in file to allow a rent free borrower to go over the XXXX% DTI maximum on a non-arms length transaction. Client to approve downgrade finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
It appears an exception was submitted for review on the file. Please review and advise. Thank you for your help.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX

2210587

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216588

1 of 4

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. The title commitment reflects the property is currently vested in XXXX; however, the borrower is entity XXXX. There is no evidence in the file of an executed transfer deed to XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Borrower is the owner for both business (XXXX & XXXX).

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Deed attached for condition.

Response 1 (XX/XX/XXXX XX:XXPM)
The information provided is not sufficient to clear the finding. Although borrower is the member of both entities, the title is reflected in one company but the new mortgage is titled in the other company. XXXX is not a current owner with legal ownership to take out a new loan in its name. The current vested entity (XXXX) must have transferred title to XXXX in order for XXXX to take out this new mortgage/loan. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216588

2 of 4

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216588

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216588

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210575

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210575

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210575

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2206973

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206973

2 of 3

XXXX

Credit

Liabilities - Missing Debts/ DTI Exceeds Tolerance

XXXX

The DTI did not reflect all of the borrower's debts resulting in a DTI that exceeds allowable tolerances. This is the purchase of a primary however the current primary was not included in the DTI as an investment property. If the current vacating primary is include in the DTI the ratios increase from XXXX to XXXX%. What are the borrowers intentions with the current primary located at XXXX? Is there a lease in place for this property to help offset the expenses? Provide supporting documents to no include negative rental income for this property.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX calculator in file was using XXXX% to be conservative but since a service, XXXX% should have been used since a transport business is generally considered a service-based business. The income was updated accordingly, and the departure XXXX was added to the liability resulting in a XXXX% DTI.

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2206973

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2204622

1 of 3

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums. Although a flood notice was located in the file, there is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2)

Acknowledged

XXXX

2204622

2 of 3

XXXX

Credit

Verification Documentation - VOR

XXXX

Verification of XXXX months rental payments is required. The borrower provided XXXX months of bank statements showing the amount of $XXXX is being Zelled to XXXX. There is no lease in the file to confirm that XXXX is the land lord and the file is missing proof of the October XXXX payment being made. Confirm that the landlord is the correct person and proof of the October payment being made.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Borrower made consistent on-time rent payments, additional information should not be required to confirm the payments were made to the correct person as XXXX is name of the landlord and "Renta" is most likely short for rental.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204622

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2200860

1 of 3

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

Flood Insurance - Escrow Notice. The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums is missing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2) Although the flood notice was located in the file, there is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing.

Acknowledged

XXXX

2200860

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200860

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2207149

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207149

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207149

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2204641

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Flood Certificate Fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please proof of cure

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2204641

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204641

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX.

Cleared

XXXX

2200861

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200861

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200861

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2204621

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2204621

2 of 4

XXXX

Compliance

State HPML

XXXX

Acknowledged

XXXX

2204621

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204621

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2200862

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200862

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200862

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2201884

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2201884

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Transfer Taxes. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
The change in the transfer tax was a result of an increase in the loan amount supported by a COC. Attached is the LE, COC and CD supporting the change.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Attached please find updated XXXX, CD, COC, PCCD, LOE, copy of check and mailing envelope from the correspondent.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The loan amount and purchase price changed on the LE issued on XX/XX/XXXX; however, the transfer taxes did not increase until the CD issued on XXXX/XXXX to the amount of $XXXX. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2201884

3 of 4

XXXX

Credit

Program Parameters - Other

XXXX

XXXX provided for max LTV of XXXX% for borrower who is currently living rent free. The max LTV for rent free borrower is80%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Exception approved for living rent free @ XXXX%, see attached.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

Compensating Factors: XXXX, Borrower has worked in same job more than XXXX years

XXXX

2201884

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2204633

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204633

2 of 3

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The borrower is using asset depletion for qualification, however, when calculating the income the closing costs, down payments and reserves where not taken into consideration, per the guidelines (page XXXX of XXXX). The borrower has sufficient funds from the proceeds of the sale of XXXX in the amount of $XXXX. Provide proof of receipt of these funds into the borrowers personal account since there is no confirmation that the funds went directly to the title company.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached settlement statement for the property XXXX, please review and advise.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204633

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2200864

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200864

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200864

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2204623

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204623

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204623

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216261

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216261

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216261

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216586

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216586

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216586

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2207146

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207146

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207146

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX.

Cleared

XXXX

2211653

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211653

2 of 3

XXXX

Credit

DTI - Exceeds Guidelines

XXXX

Lender calculated DTI of XXXX% but review calculated DTI is at XXXX% and outside the guideline maximum of XXXX%. A review of documents in file reflect there is $XXXX in existing consumer debt included in DTI calculations; The lender only included $XXXX in existing consumer debt in the DTI calculation?. Please provide evidence of the existing consumer debt being paid off to support the lender DTI of XXXX%. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Excluded debts are paid by borrower owned business (XXXX) through XXXX #XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211653

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211669

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211669

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211669

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX the supports the appraised value.

Cleared

XXXX

2204627

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204627

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204627

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2207136

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207136

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207136

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA report dated XX/XX/XXXX which supports the original appraise value.

Cleared

XXXX

2211667

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211667

2 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

Guideline requirement has not been met. The Lender's guidelines state that for rate and term refinance with a credit XXXX the max LTV is XXXX%. Despite this requirement, the loan file closed with an LTV of XXXX%.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Exception was approved for DTI below XXXX with a XXXX% LTV and XXXX Score as noted on attached Non QM Exception Form.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Sorry, XXXX exception approval is now attached. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Investor exception is missing. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: Monthly reserves verified and at least XXXX months more than guideline minimum. Housing payment history is 0x30x24 or better.

XXXX

2211667

3 of 4

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for using higher lease rent for DSCR. The loan file contains XXXX months rent received; however, the Lender's guidelines require XXXX months statements of rents received. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Exception was approved for XXXX months rent receipts with DTI below XXXX with a XXXX% LTV and XXXX Score as noted on attached Non QM Exception Form.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Sorry, XXXX exception approval is now attached. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Investor exception is missing. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: Monthly reserves verified and at least XXXX months more than guideline minimum. Housing payment history is 0x30x24 or better.

XXXX

2211667

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211655

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211655

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211655

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2204637

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204637

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204637

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2204626

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204626

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204626

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2204643

1 of 6

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2204643

2 of 6

XXXX

Credit

Assets - Cash to Close

XXXX

Funds required for subject closing were $XXXX ($XXXX EMD + $XXXX funds due at closing). Liquid assets wereverified in the amount of $XXXX. As a result; funds for closing were short$XXXX. Please provide verification of the additional funds wired to title in the amount of $XXXX on XX/XX/XXXX. Or a XXXX months statement verifying an additional $XXXX in liquid assets.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The borrowers each have accounts with XXXX (XXXX). The documentation attached shows the funds were in a pension fund and not liquid, but they reallocated/transition from pension funds to an investment account. Documentation is also attached to show the borrower are retired educators and are not receiving a monthly benefit from the XXXX. Accordingly, these funds are liquid as with any other investment account and support total liquidity of XXXX sufficient for CTC and RSV.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204643

3 of 6

XXXX

Credit

Condo - Documentation

XXXX

Guidelines state a copy of the Fannie Mae condo project manager certificate must be provided with the loan package but could not be located within the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Evidence of the Condo approval

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204643

4 of 6

XXXX

Credit

Program Parameters - LTV

XXXX

Lender exception in file to allow an LTV/CLTV of XXXX% when the maximum allowed LTV/CLTV for a condominium in a declining market is XXXX%. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Exception approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating factors: Qualifying DTI less than XXXX%, AND at least XXXX% less than the guideline minimum

XXXX

2204643

5 of 6

XXXX

Credit

Verification Documentation - VOR

XXXX

Guidelines state a XXXX month payment history needs to be provided if the the borrowers are renting from a private party but could not be located within the file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached are XXXX months bank statement from XXXX/XXXX to XXXX that support months drafts for the rent, also attached is an LOE breaking down each months rent as they correspond to the statements.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204643

6 of 6

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206968

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206968

2 of 5

XXXX

Compliance

TRID - CD/Lender Credits that Cannot Decrease (Disclosure Timing Fail)

XXXX

The loan failed the Lender Credits that Cannot Decrease Test. Because the loan failed the initial CD delivery date test , any values that would change under a valid changed circumstance if the disclosure had been delivered timely, will not be considered valid for tolerance purposes. Therefore, baseline did not reset as a result of the following additions/increases: Lender Credit. A cost to cure in the amount of $XXXX is required. The violation may be cured if documentation is provided showing the disclosure was delivered timely.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
please see CD XXXX/XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206968

3 of 5

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please see CD

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206968

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206968

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2200866

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200866

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2200866

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211663

1 of 5

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2211663

2 of 5

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

The loan was subject to XXXX and the Notice of Requirement to Escrow Flood Insurance Premiums is missing. There is insufficient evidence that it was provided to the borrower at least XXXX calendar days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2)

Acknowledged

XXXX

2211663

3 of 5

XXXX

Compliance

State HPML

XXXX

his loan failed the XXXX XXXX higher-priced mortgage loan test. (XXXX XXXX, XXXX Financial Code Division XXXX 4995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the XXXX Financial Code. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2211663

4 of 5

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211663

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2210577

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210577

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210577

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2204628

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Processor cert and COC

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2204628

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204628

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2204639

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2204639

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204639

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2204629

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204629

2 of 3

XXXX

Credit

Verification Documentation - VOR

XXXX

Verification of XXXX months rental payments is required. The file contains proof of XXXX consecutive monthly payments being made however per the guidelines we would either need a fully executed lease agreement to go along with the proof of monthly payments or a completed VOR from a 3rd party/management company.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
A copy of the HUD Tenant Eligibility for section 8 housing is attached and was provided to support tenancy. Also attached is a XXXX personal bank statement that supports the head of household name along with the borrower and address reported on HUD Tenant Eligibility form.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2204629

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211679

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211679

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211679

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211670

1 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2211670

2 of 4

XXXX

Credit

Assets - Other

XXXX

The required funds to close were $XXXX which included POC items, EMD and XXXX funds reflected on the Closing Disclosure and reserves in the amount of $XXXX for total required funds of $XXXX. At origination, the underwriter included borrower's business checking account with XXXX #XXXX with a balance of $XXXX in the total assets. This account included a deposit of $XXXX on XX/XX/XXXX which was sourced as gift funds. The Closing Disclosure reflected an $XXXX credit for the gift funds from the donor. The file contained a wire receipt for the gift funds to the title company and reflected the wire was sent from the XXXX business checking account #XXXX. By including these gift funds in the XXXX account balance and also as a credit on the closing disclosure, the gift funds were counted twice at origination. Audit reduced the balance of the XXXX account by the gift deposit resulting in a lower balance of $XXXX. Audit calculated total verified funds of $ XXXX. This resulted in a shortage of funds to close in the amount of $XXXX and reserves of $XXXX for a total shortage of $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
An updated CD is required since the XXXX was document going into the XXXX business account # XXXX on XXXX/XXXX resulting the $XXXX balance on XXXX/XXXX. No documentation was provided showing the gift was wired to escrow. Required funds per final CD after removing the $XXXX gift are POC $XXXX+ EMD $XXXX - $XXXX to the borrower = XXXX + Reserves of XXXX = XXXX In addition to the XXXX business funds noted above funds of $XXXX for closing . There is also $XXXX verified in XXXX that can be used for reserves, and the account balance exceeds XXXX% of the required reserves. Even if the business account is reduced by the XXXX resulting in a balance of $XXXX there are still verified funds to close plus the XXXX verified in XXXX that can be used for reserves, there is sufficient liquidity verified.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
XXXX funds not gifted at closing, already in borrower's bank account. Total assets verified $XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
XXXX was already included in available funds. Shortage stands. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Sufficient assets verified. (Resolved)

Response 3 (XX/XX/XXXX XX:XXPM)
Sufficient assets verified. (Resolved)

XXXX

2211670

3 of 4

XXXX

Credit

Credit - Other

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
gap credit provided

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211670

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score of XXXX.

Cleared

XXXX

2211657

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. XXXX, Collateral Desktop Analysis Fee, Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2211657

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211657

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2216602

1 of 7

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216602

2 of 7

XXXX

Credit

Assets - Minimum Reserves

XXXX

Assets were required in the amount of $XXXX ($XXXX funds due at closing + $XXXX reserves). Assets wereverified in the amount of $XXXX (XXXX $XXXX + $XXXX XXXX exchange) resultingin short reserves in the amount of $XXXX. Please provide the most recent XXXX month’sasset statement verifying an additional $XXXX in verifiable liquid assets.Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Only using XXXX exchange of $XXXX and deposit of $XXXX.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Bank Statement uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide the XXXX printout documenting the remaining proceeds deposit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216602

3 of 7

XXXX

Credit

Assets - Other

XXXX

The asset statement with XXXX acct ending in XXXX is a joint account with XXXX but the access letter could not be located within the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Only using XXXX exchange for down payment purposes and for reserves XXXX #XXXX with balance $XXXX. No access letter required in this scneario. Please review and advise if findings can rebutt.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Bank Statement uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide the XXXX printout documenting the remaining proceeds deposit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216602

4 of 7

XXXX

Credit

Assets - Source

XXXX

There is a website print out for XXXX from XX/XX/XXXX-XX/XX/XXXX that is cut-off on the bottom it does not include the banks URL address to verify all information was included. Please provide the statement including the URL address or the actual statement including all information.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Only using XXXX exchange for down payment purposes and for reserves XXXX #XXXX with balance $XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Bank Statement uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Please provide the XXXX printout documenting the remaining proceeds deposit. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216602

5 of 7

XXXX

Credit

Condo - Documentation

XXXX

Guidelines state condominiums over XXXX units (there are XXXX units in the subjects association) to refer to the Fannie Mae Condo Project Manager approval certificate must be included in the loan package but could not be located. Additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Property type is Condo Detached, As per condo review team, neither condition applies if the subject is a detached condo. Please review and rebut the findings.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2216602

6 of 7

XXXX

Credit

Condo - Documentation

XXXX

Please provide a copy of the condo associations un-expired master insurance policy and a copy of the condominium association completed condo questionnaire. Additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Property type is Condo Detached, As per condo review team, neither condition applies if the subject is a detached condo. Please review and rebut the findings.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2216602

7 of 7

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2206967

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206967

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206967

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210584

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210584

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210584

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2206750

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206750

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase/addition to the following fees was not accepted: Appraisal. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
The appraisal was a transferred and we do not cure transfer appraisals. Invoice uploaded XXXX/XXXX and closer wasn&#XXXX;t assigned until XXXX/XXXX

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Attached the full appraisal, transfer letter, and invoice dated XX/XX/XXXX from XXXX to further verify the report was transferred from XXXX to XXXX. XXXX does not cure transferred appraisals.

Response 1 (XX/XX/XXXX XX:XXPM)
A snip of the appraisal was provided, unable to determine if valid. Please provide full page and LOE with more details for review. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206750

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206750

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206985

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206985

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206985

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207137

1 of 3

XXXX

Compliance

TRID - CD - Loan Disclosures/Escrow Account

XXXX

The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: The No Escrow Table did not disclose if the Borrower declined or if the Lender does not offer an escrow account. Truth in XXXX (Regulation Z) 12 CFR 1026.38(l)(7)

Acknowledged

XXXX

2207137

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207137

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2207145

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207145

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207145

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2204649

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204649

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204649

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2206976

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206976

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206976

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2206983

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206983

2 of 3

XXXX

Credit

DSCR - Missing Entity Documentation

XXXX

Missing required business documentation per guidelines. The Lender's guidelines require a Certificate of Good Standing or equivalent document. Despite this requirement, the loan file was missing a Certificate of Good Standing.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached is a certificate of good standing for the XXXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206983

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2211661

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211661

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211661

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2206975

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: XXXX increased on revised LE XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Please see the CD dated XXXX/XXXX and the COC

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
please see PCCD and LOE

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
see cure check

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The COC provided on XX/XX/XXXX for the XXXX increase and the Appraisal Invoice do not state a reason for the increase. A detailed reason/COC stating why the Appraisal fee increased is required. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The LOE, PCCD and XXXX of delivery have been provided. A copy of the refund check is required. (XXXX)

Response 3 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206975

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206975

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2211662

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211662

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211662

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206986

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206986

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206986

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216265

1 of 5

XXXX

Compliance

TRID - 10% Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that in total cannot increase more than XXXX% test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Recording fee. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Final Settlement statement from closing attorney shows a recording fee of $XXXX that matches the LE resulting in no variance.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
PCCD was completed and attached. I am also providing the LOE sent to the borrower. The attached Final Settlement Statement shows the recording fees decreased to $XXXX no cure is required.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The ALTA statement has been provided. Please provide a PCCD with Final numbers. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216265

2 of 5

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216265

3 of 5

XXXX

Compliance

TRID - CD/Payee Not Listed

XXXX

The loan contains the following fee or fees where 'compensation to' does not reflect a XXXX on the revised CD. XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
PCCD.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216265

4 of 5

XXXX

Credit

Verification Documentation - VOR

XXXX

Lender exception in file to allow a borrower living rent free for the past XXXX months have purchase financing to XXXX% LTV when maximum allowed for rent free borrowers is XXXX% LTV. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Exception for living rent free was previously approved and attached.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
Sorry, exception approval is now attached. Thank you.

Response 1 (XX/XX/XXXX XX:XXAM)
Attachment not received. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating factors: FICO higher than XXXX, AND at least XXXX points higher than guideline minimum; Monthly reserves are verified AND at least XXXX months more than the guideline minimum; Borrower has worked in the same job more than XXXX years; Borrower has worked in the same industry more then XXXX years; Borrower has verified residual income (disposable income) of at least $XXXX a month

XXXX

2216265

5 of 5

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score is XXXX.

Cleared

XXXX

2207139

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2207139

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207139

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216598

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2216598

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216598

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2206970

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206970

2 of 3

XXXX

Credit

Assets - Cash to Close

XXXX

Guidelines state if the borrower is using business assets for funds to close; documentation must be provided to prove the withdrawal of funds will not negatively impact the business with either a completed cash flow analysis, an executed CPA letter verifying this, or other underwriting documentation used to verify, which could not be located in the file. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
UW completed and cash flow analysis in lien of CPA LOE for use of business funds.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Good morning, the borrower used personal funds to close, only the 5K EMD came from the business account which based on the average deposits, should not affect business operations as noted by UW on the form. Borrowed has sufficient liquidity from personal funds to cover CTC and reserves without the use of business funds. Calculated reserves are XXXX plus XXXX plus XXXX POC = XXXX, Personal funds verified are XXXX, resulting in a surplus of personal funds. Please advise if you have different cash and/or reserves requirements.

Rebuttal 3 (XX/XX/XXXX XX:XXAM)
Two accounts are documented in the file, XXXX with $XXXX which is a cash reserve account held personally/individually, not an IRA and the XXXX AC XXXX that was not used to qualify. As previously noted only 5K for the EMD came from the business and in lieu of a CPA letter a cash flow analysis was provided.

Response 1 (XX/XX/XXXX XX:XXAM)
Cash Flow provided limits the funds used to only cover the $XXXX EMD. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Disagree. Only the IRA account and the XXXX business account were provided. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206970

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2206971

1 of 4

XXXX

Compliance

TRID - CD - Loan Disclosures/Escrow Account

XXXX

The Escrow Account Disclosure on the CD issued on XX/XX/XXXX is inaccurate due to the following: Page XXXX of XXXX indicates the borrower will not have an escrow account; however, the reason is not checked.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached please find the updated PCCD with escrow reason checked off.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206971

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (Revised Disclosure Late)

XXXX

The loan failed the charges that cannot increase test. Because the change occurred on XX/XX/XXXX, and consumer was not provided the disclosure within XXXX days of the change, the increase to the following fee was not accepted as valid: Credit Report (XX/XX/XXXX). A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Attached please find the updated PCCD for the XXXX credit report tolerance breach, LOE, copy of check with proof of delivery.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2206971

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206971

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2206972

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206972

2 of 4

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fees was not accepted: Credit Report. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
the difference is the $XXXX convenience fee the borrower was charged for using a credit card. Please clear this cond. This is not a fee we charged the borrower.

Rebuttal 2 (XX/XX/XXXX XX:XXAM)
The $XXXX fee was charged to the borrower by the borrower&#XXXX;s bank not by XXXX. XXXX does not need to disclose as it is not a fee that XXXX charged them.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to clear the finding. The total fee charged for the credit Report needs to be disclosed; the fee is retained by a third party, and the entire fee must be disclosed; lender was aware of whole fee on XX/XX/XXXX. A cost to cure in the amount of $XXXX remains. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The information provided is sufficient to clear the finding. (Resolved)

XXXX

2206972

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206972

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216262

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was: XX/XX/XXXX6. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Acknowledged

XXXX

2216262

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216262

3 of 4

XXXX

Credit

Assets - Minimum Reserves

XXXX

Lender exception in file to allow the borrower to have XXXX months reserves after closing when XXXX months reserves are required. Client to approve downgrading finding based on compensating factors.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Exception was no longer required as noted on the transmittal - DD Exception Comments: XXXX/XXXX Per UW- Exception no longer needed. Borrower provided updated liquidity that supported reserves that exceeded the XXXX-month requirement.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Attached please finds the bank statement that support the liquidity reported on the final XXXX for the borrower of XXXX with XXXX and co-borrower of XXXX with XXXX totaling XXXX that supports sufficient funds to close and exceeds XXXX months reserves requirement. CTC per CD XXXX + XXXX EMD + XXXX POC = XXXX - XXXX= XXXX in reserves.

Response 1 (XX/XX/XXXX XX:XXPM)
Only XXXX months of reserves reflected at review. (XXXX)

Response 2 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

Compensating factors: Borrower has worked in the same job more than XXXX years

XXXX

2216262

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a second appraisal dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2210589

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210589

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210589

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a second appraisal dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2207150

1 of 3

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

Acknowledged

XXXX

2207150

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207150

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2207140

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207140

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207140

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2211664

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211664

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211664

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2210594

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210594

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210594

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210578

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210578

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210578

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2204640

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2204640

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2204640

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2207141

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2207141

2 of 3

XXXX

Credit

Program Parameters - DTI

XXXX

The borrowers DTI is XXXX% which exceeds the program parameters of XXXX XXXX% when LTV exceeds XXXX%. Current LTV is XXXX%. The reason for the increase of the DTI was due to a new credit report being pulled with an increased XXXX payment. New credit report was pulled on XX/XX/XXXX.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
XXXX has approved this, see attached

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX. XXXX months of reserves. $XXXX per month residual income.

XXXX

2207141

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2207151

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207151

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207151

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210579

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210579

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210579

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2206974

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2206974

2 of 3

XXXX

Credit

Condo - Documentation

XXXX

The loan file did not contain the required Condo Project Manager Certification.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Doc uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2206974

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2210588

1 of 3

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2210588

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210588

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2207142

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Third Party Processing Fee and XXXX Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2207142

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207142

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2210581

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210581

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210581

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2210585

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210585

2 of 3

XXXX

Credit

Credit Report - Other

XXXX

The loan file is missing a gap credit or undisclosed debt monitoring report dated within XXXX days prior to the loan closing on XX/XX/XXXX or any time after as required per guidelines.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Uploaded UDM report

Response 1 (XX/XX/XXXX XX:XXPM)
Documentation received is sufficient. (Resolved)

XXXX

2210585

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX.

Cleared

XXXX

2206978

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206978

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206978

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2211673

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211673

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211673

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX, which supports value.

Cleared

XXXX

2206979

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206979

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206979

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211668

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211668

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211668

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206987

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206987

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206987

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2211675

1 of 4

XXXX

Compliance

Flood Insurance Required

XXXX

The Flood Notice in the loan file was signed on XX/XX/XXXX. The Flood Notice should have been received at least XXXX days prior to closing.

Acknowledged

XXXX

2211675

2 of 4

XXXX

Compliance

HUD1 - Not Final

XXXX

It could not be determined that the HUD-XXXX provided in the loan file was the FINAL binding HUD-XXXX. Real Estate Settlement Procedures Act (Regulation X) 12 CFR XXXX, XXXX

Acknowledged

XXXX

2211675

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211675

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports appraised value.

Cleared

XXXX

2207147

1 of 3

XXXX

Compliance

TRID - Initial CD/Delivery Date (prior to consummation) Non- Rescindable

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Uploaded Initial CD sent and Ack of Receipt

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2207147

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207147

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216596

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216596

2 of 3

XXXX

Credit

DSCR - Program Parameters - Other

XXXX

XXXX in file as the subject loan does not meet Program Parameters for DSCR < XXXX. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached please find approved exception for DSCR <XXXX%. Please advise, thank you for your help.

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: Monthly reserves verified and at least XXXX months more than guideline minimum. Housing payment history is XXXX*XXXX*XXXX or better.

XXXX

2216596

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210582

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210582

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210582

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2206981

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2206981

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2206981

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2207148

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2207148

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2207148

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211671

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211671

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211671

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216595

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216595

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216595

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2210593

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was not completed accurately. the notary section on page XXXX was completed with the date in the section designated for the notary's name.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Good afternoon attached is a recorded affidavit from the notary acknowledging signature error and correction.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2210593

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210593

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216267

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

The loan failed the Federal HPML APR test. Using the greater of the disclosed APR XXXX% and the calculated APR XXXX%, the loan is a higher-priced mortgage loan, as defined in XXXX Rate Set was XX/XX/XXXX. The loan is a compliant HPML. Escrow, prepayment, and appraisal requirements have been met.

Cleared

XXXX

2216267

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216267

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2211674

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211674

2 of 3

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close. The borrower is currently short for reserves by $XXXX. Provide sufficient assets for reserves, additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Documentation uploaded.

Response 1 (XX/XX/XXXX XX:XXPM)
Explanation received is sufficient. (Void)

XXXX

2211674

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216619

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216619

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216619

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX that supports the appraised value.

Cleared

XXXX

2210591

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2210591

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210591

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216620

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the addition to the following fees was not accepted: Third Party Processing Fee, CD XX/XX/XXXX. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached please find the ILE, CD, PCCD, LOE and XXXX of check to cure the Third Party Processing Fee. Thank you for your help.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Attached please find PDF of email from borrower confirming receipt of cure check.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is not sufficient to cure the finding. The LOE, PCCD and copy of the refund check have been provided. Proof of Delivery is required. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216620

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216620

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216599

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216599

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216599

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score of XXXX.

Cleared

XXXX

2211681

1 of 3

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211681

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211681

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216614

1 of 3

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report Fee. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216614

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216614

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2216621

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216621

2 of 3

XXXX

Credit

Credit Missing - One or More Reports Missing

XXXX

Credit report dated XX/XX/XXXX and loan closed XX/XX/XXXX. Guidelines require a gap credit or Undisclosed Monitoring report no more than XXXX days prior to closing or anytime after closing, and is missing from the file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
UDM uploaded

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216621

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2210586

1 of 3

XXXX

Compliance

TRID - Zero Tolerance Violation (No Valid COC)

XXXX

The loan failed the charges that cannot increase test. A valid change of circumstance was not provided in the loan file. Therefore, the increase to the following fee was not accepted: Credit Report. A cost to cure in the amount of $XXXX is required. If curing the violation with a refund, the following documents are required: LOE to consumer(s), PCCD, copy of the refund, and proof of delivery.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Attached please find documentation to support the PCCD cure of the credit report fee including copy of the refund.

Response 1 (XX/XX/XXXX XX:XXPM)
The documents provided are sufficient to clear the finding. (Resolved)

XXXX

2210586

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210586

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211677

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2211677

2 of 4

XXXX

Credit

Verification Documentation - VOR

XXXX

Guidelines state if the borrower is living rent free a rent free letter needs to be from the provider not the borrower. Please provide a rent free letter completed by XXXX per the letter of explanation in file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Per guidelines the borrower does not have a housing payment and rent fee guidelines do not apply as noted by GL below. Attached is the LOE from the borrower and executed by spouse confirming the living arrangement, county property card, XXXX and property profile confirming spouse as sole owner. Housing payment history may be waived for the following scenarios. Living rent-free requirements do not apply. • If a Borrower is living with a spouse and is not obligated on the current mortgage for the current residence, provide documentation that the borrower is not obligated on the loan, such as the note, property profile, lexis nexus, or county records.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211677

3 of 4

XXXX

Credit

Verification Documentation - VOR

XXXX

Per the final application the borrower has been living rent free for XXXX years. Guidelines state if the borrower has been living rent free for any portion of the past XXXX months the maximum LTV/CLTV is XXXX% but the loan closed at XXXX% LTV/CLTV. Additional conditions may apply.

Resolved

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211677

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2211676

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211676

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211676

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value.

Cleared

XXXX

2211682

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211682

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211682

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2210590

1 of 4

XXXX

Compliance

Note - Incomplete

XXXX

The borrower is an entity. The borrower’s name does not include their title, however the entity name and “By” is included bringing this to an EV2 exception.

Acknowledged

XXXX

2210590

2 of 4

XXXX

Compliance

Security Instrument - Incomplete

XXXX

The borrower is an entity. The borrower’s name does not include their title, however the entity name and “By” is included bringing this to an EV2 exception.

Acknowledged

XXXX

2210590

3 of 4

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2210590

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216603

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216603

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee or fees where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216603

3 of 4

XXXX

Credit

Assets - Authorization

XXXX

The file does not contain authorization for funds access from joint account holder. Borrowers business account Regions/XXXX total available assets are needed for cash to close and reserves, however, there is no equal access letter in the file for this account. The co-owner was specific to list the XXXX accounts in the equal access letter but did not include the assets in the Regions account. Please provide equal access letter for Regions/XXXX. If assets are only used at XXXX% the borrower is shorts funds for closing and reserves in the amount of $XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Access letter is not required as there is an IEC on file, see guideline section 902. XXXX has been updated to reflect internal exception code XXXX.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation and documentation received is sufficient. (Resolved)

XXXX

2216603

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2211678

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211678

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211678

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216605

1 of 8

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216605

2 of 8

XXXX

Credit

Assets - Source

XXXX

There is a large deposit in the personal bank account that appears to be real estate: XXXX XXXX, XXXX XXXX but the final HUD-XXXX to verify was not located within the loan file. Additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
if we can tell what the deposit is then we don&#XXXX;t need the HUD, it is sales proceeds as you referenced in the exception itself

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2216605

3 of 8

XXXX

Credit

Credit - Red Flags/Potential Fraud

XXXX

Per the CIC Credit XXXX Risk Review pulled for the borrower the social security number should be verified but the social security number validation could not be located within the loan file. Additional conditions may apply.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
this is incorrect, the credit report shows that they DID verify this, the only part that had an x was that it wasn&#XXXX;t issued until XXXX. We don&#XXXX;t have guides stating when exactly the social needs to be issued and this was over XXXX years ago

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2216605

4 of 8

XXXX

Credit

Credit Report - Minimum Trade Lines

XXXX

The guidelines state the borrower needs to have XXXX tradeline reporting on the credit report for XXXX months in the past XXXX months, but the oldest account the borrower has is XXXX months.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
incorrect, minimum tradeline requirements only apply if we do not have XXXX FICOs. On this loan we have XXXX FICOs

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2216605

5 of 8

XXXX

Credit

Income - Employment History

XXXX

Per the Self-Employed Ownership verification guideline states that verification of the business being in good standing from the state organized in and existence is required. But the only business verification provided is from the CPA.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please remove as this finding is not legitimate. We do not require evidence of existence to specifically be a SOS from the state, that is simply one of the options to meet this guideline

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Void)

XXXX

2216605

6 of 8

XXXX

Credit

Income Documentation - Violation

XXXX

There is a large deposit being included in the bank statement income calculation that appears to be a real estate sale of property and is not typical business income, cannot be included in income calculation.

Void

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please confirm which specific deposit you are referencing so it can be addressed

Response 1 (XX/XX/XXXX XX:XXAM)
There are no deposits which would be considered too large for this Construction Business. (Void)

XXXX

2216605

7 of 8

XXXX

Credit

Verification Documentation - VOR

XXXX

Guidelines state if the borrower has been living rent-free for any portion of the last XXXX months the maximum LTV allowed is XXXX% but the loan closed at XXXX% LTV.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
exception received for this

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

XXXX% DTI. XXXX months of reserves.

XXXX

2216605

8 of 8

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216269

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216269

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216269

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216606

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216606

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216606

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216608

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216608

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216608

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX.

Cleared

XXXX

2216609

1 of 4

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2216609

2 of 4

XXXX

Credit

Verification Documentation - VOR

XXXX

Per the rent-free letter in the loan file the borrower has been living rent-free for July and August of XXXX. Guidelines state if the borrower has been living rent-free at any point the maximum allowed LTV/CLTV is XXXX% but the loan closed at XXXX% LTV/CLTV. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Please find attached closer cert.

Response 1 (XX/XX/XXXX XX:XXAM)
Explanation received is sufficient. (Resolved)

XXXX

2216609

3 of 4

XXXX

Credit

Verification Documentation - VOR

XXXX

Per the rent-free letter within the loan file the borrower was living rent free for July and August of XXXX but the verification of the $XXXX rent being paid for June XXXX could not be located. Additional conditions may apply.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
VOR additional information says on XXXX rent.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216609

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216610

1 of 3

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

The loan was subject to XXXX and the Notice to Borrower in Special Flood Hazard Area Disclosure was not received XXXX days prior to closing. National Flood Insurance Act (NFIA) & Implementing Regulations XXXX USC 4012a(d) // 12 CFR 208.25(e)(2)

Acknowledged

XXXX

2216610

2 of 3

XXXX

Credit

Program Parameters - Other

XXXX

XXXX provided for the borrower living rent free for greater than XXXX years with a XXXX% LTV. Client to approve downgrading finding based on compensating factors.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
exception approval

Response 1 (XX/XX/XXXX XX:XXAM)
Waiver granted by Investor. (Waived)

Compensating Factors: fico XXXX, DTI XXXX%

XXXX

2216610

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU is XXXX.

Cleared

XXXX

2216618

1 of 3

XXXX

Compliance

State Testing - Prepayment Penalty

XXXX

Acknowledged

XXXX

2216618

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2216618

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2216601

1 of 4

XXXX

Compliance

Flood Insurance - Escrow Notice

XXXX

Acknowledged

XXXX

2216601

2 of 4

XXXX

Compliance

HUD1 - Missing (All)

XXXX

There is no evidence of a HUD-XXXX Settlement Statement provided in the loan file. As a result the following reviews could not be performed: XXXX, XXXX.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see HUD XXXX

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2216601

3 of 4

XXXX

Credit

Assets - Cash to Close

XXXX

The file did not contain evidence the borrower had the proper amount of funds required to close due to HUD-XXXX Settlement Statement missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
please see attched HUD final

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216601

4 of 4

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX.

Cleared

XXXX

2200798

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was notcompleted accurately. The loan is a XXXX-year fixed close-end product. TheOpen-end form was utilized for the Security Instrument when a Close-end formshould have been used; however, the Security Instrument covers the correct debtand terms.

Acknowledged

XXXX

2200798

2 of 3

XXXX

Credit

Hazard Insurance - Missing/Insufficient

XXXX

The hazard insurance policy provided reflects an effective date of XX/XX/XXXX. Subject Note date was XX/XX/XXXX. The policy was not in effect as of the Note date.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Originator disclosed defect. Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, Calculated DSCR of XXXX, Experienced Investor. Policy is active.

Comp factors: XXXX% LTV, strong reserves, XXXX

XXXX

2200798

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2200793

1 of 3

XXXX

Compliance

Note - Incomplete

XXXX

The following section of the Note is inaccurate: The Note, Section 1.5.4 Maximum Interest Rate, is less than the Minimum Interest Rate in Section 1.5.3

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Good morning, with regards to Section 1.5.4 of the note, the Maximum Interest Rate is stated to be "never greater than Five and XXXX/XXXX Percent (XXXX%) *above the Initial Interest Rate.* The initial rate is detailed in Section 1 as XXXX%, so the maximum interest rate will be XXXX% over the life of the loan.

Response 1 (XX/XX/XXXX XX:XXPM)
The documentation provided is sufficient to clear the finding. (Resolved)

XXXX

2200793

2 of 3

XXXX

Credit

Hazard Insurance - All Perils

XXXX

XXXX, HOI policy must specifically state All Perils or meet one of the three options provided in overlay to Correspondent.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted compensating factors: Experienced investor, XXXX% LTV, calculated DSCR of XXXX

Comp factors: XXXX% LTV, strong reserves

XXXX

2200793

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2200797

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2200797

2 of 3

XXXX

Credit

Assets - Authorization

XXXX

The file does not contain authorization for funds access from joint account holder. The bank statements for XXXX account *XXXX reflects the account holder name of XXXX. The operating agreement for this entity is present in the loan file; however, the sole member is not the borrower or the guarantor. Evidence of access or additional assets is required. Without the use of these funds, there would be a shortage of funds for the transaction.

Waived

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Originator disclosed. Client reviewed and elects to waive. Noted compensating factors: XXXX qualifying credit score, XXXX% LTV, Experienced Investor

Comp factors: XXXX% LTV, XXXX

XXXX

2200797

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2200796

1 of 3

XXXX

Compliance

Security Instrument - Inaccurate

XXXX

The security instrument was notcompleted accurately. The loan is a XXXX-year fixed close-end product. The Open-end form was utilized for the Security Instrument when a Close-end form should have been used; however, the Security Instrument covers the correct debt and terms.

Acknowledged

XXXX

2200796

2 of 3

XXXX

Credit

Assets - Bank Statements

XXXX

The bank and/or asset statements are incomplete. Guidelines require a minimum of XXXX days seasoning on asset statements. The loan file contains a bank statement for the XXXX account ending *XXXX for the period ending XX/XX/XXXX; however, the consecutive month bank statement for XXXX account ending *XXXX is missing from the loan file to evidence a complete XXXX days of account seasoning.

Waived

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
Good morning, we&#XXXX;d like to request an exception for this. Based on the accounts we have XXXX days of statements for the borrower is short, after closing, $XXXX which is less than XXXX months reserves. The two statements we have only XXXX days for total just under $XXXX. Additionally we have a high DSCR at XXXX.

Response 1 (XX/XX/XXXX XX:XXPM)
Waiver granted by Investor. (Waived)

XXXX (XX/XX/XXXX XX:XXPM)
Client reviewed and elects to waive. Noted Compensating factors: Experienced Investor, DSCR of XXXX, XXXXx30x81 months reviewed

XXXX. XXXX DSCR. Experienced Investor.

XXXX

2200796

3 of 3

XXXX

Valuation

Appraisal - Value is supported within 10% of original appraisal amount

XXXX

The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value.

Cleared

XXXX

2201604

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2201604

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2201604

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. No secondary valuation product was provided as required.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXAM)
CDA

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2211607

1 of 3

XXXX

Compliance

No Compliance Findings

XXXX

The loan is in compliance with all applicable laws and regulations.

Cleared

XXXX

2211607

2 of 3

XXXX

Credit

No Credit Findings

XXXX

The loan meets all applicable credit guidelines.

Cleared

XXXX

2211607

3 of 3

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

The Loan file did not contain an AVM, CDA, Field Review, 2nd appraisal or CU score at XXXX or under to support the origination appraised value. The loan file contains a CU with a score of XXXX; however, there is no CDA in the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Per UW per guidelines for The XXXX may utilize Collateral Underwriter (CU) and/or Loan Collateral Advisor (LCA) as a secondary valuation if the score is <=XXXX. File must include a copy of the Submission Summary. If Both are run they must be done at the same time only one UCDP needs to have a passing score. The FNMA CU is XXXX and the FHLMC lca is XXXX so were good per the guidelines for this loan.

Rebuttal 2 (XX/XX/XXXX XX:XXPM)
Please see response from UW per guidelines for The XXXX may utilize Collateral Underwriter (CU) and/or Loan Collateral Advisor (LCA) as a secondary valuation if the score is <=XXXX. File must include a copy of the Submission Summary. If Both are run they must be done at the same time only one UCDP needs to have a passing score. The FNMA CU is XXXX and the FHLMC lca is XXXX so were good per the guidelines for this loan.

Rebuttal 3 (XX/XX/XXXX XX:XXPM)
per UW not required as the ssr XXXX is less on FHLMC

Response 1 (XX/XX/XXXX XX:XXAM)
Guide requires either a XXXX or a Stewart Valuation Appraisal Risk Review. (XXXX)

Response 2 (XX/XX/XXXX XX:XXPM)
Originator guide requires either a XXXX or a Stewart Valuation Appraisal Risk Review. (XXXX)

Response 3 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216343

1 of 4

XXXX

Compliance

Federal - HPML APR/Compliant

XXXX

Acknowledged

XXXX

2216343

2 of 4

XXXX

Compliance

TRID - CD - Section B incorrect payee

XXXX

The loan contains a fee where 'compensation to' reflects either 'Lender or Broker' under Section B- Services Borrower Did Not Shop For of the revised CD issued on XX/XX/XXXX. Credit Report. However, this fee should not be retained by the lender or broker. Per regulation 1026.38(f)(2), the name of the person/company ultimately receiving payment for service should be listed.

Acknowledged

XXXX

2216343

3 of 4

XXXX

Credit

Income - Other/Missing

XXXX

A business narrative is required for all bank statement program loans.The business narrative was missing from the loan file.

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
Business Narrative

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)

XXXX

2216343

4 of 4

XXXX

Valuation

Appraisal - Value is not supported within 10% of original appraisal amount

XXXX

Resolved

Rebuttal 1 (XX/XX/XXXX XX:XXPM)
CU/LCA Score reports for your review.

Response 1 (XX/XX/XXXX XX:XXAM)
Documentation received is sufficient. (Resolved)