Velocity Commercial Capital Loan Trust 2026-5 ABS-15G
Exhibit 99.11
| Seller | Loan ID | Seller Loan ID | Investor Loan ID | Queue | Created Date | Last Modified Date | Finding Status | Event Level | Finding Category | Finding Sub Category | Finding Name | Reviewer Comments | Seller Comments | Finding Resolution | Finding Document | Reviewer Comp Factors | Originator Comp Factors | State | Occupancy | Loan Purpose | Refinance Purpose | Unique Finding ID | Acknowledged / Waived By | Waiver in File? |
| XXXXX | XXXX | 924354 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 70% exceeds Guideline LTV of 65%. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 70% exceeds Guideline LTV of 65%. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Company Financial Strength Strong DSCR Guarantor Support/Liquidity |
XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 965615 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Credit score not provided | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Lender guideline requires a tri-merge credit report with FICO score from all three major bureaus. Despite this requirement Equifax FICO score is not provided. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Lender guideline requires a tri-merge credit report with FICO score from all three major bureaus. Despite this requirement Equifax FICO score is not provided. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong DSCR Guarantor Support/Liquidity |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 126625 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Credit score not provided | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Lender guideline requires a tri-merge credit report with FICO score from all three major bureaus. Despite this requirement Transunion FICO score is not provided. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Lender guideline requires a tri-merge credit report with FICO score from all three major bureaus. Despite this requirement Transunion FICO score is not provided. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low Collateral LTV Guarantor Support/Liquidity Company Financial Strength |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 281727 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. - Buyer-XX/XX/XXXX Counter-Please update the CAM with the exception and upload to this finding. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-This is due to the post funding rate increase (which is in line with the recent rate hikes) Management was comfortable proceeding with tighter cashflow of 1.16x at approval as the LTV was sufficiently low roughly 50% and due to sufficient management and operational history of the OC. - Buyer-XX/XX/XXXX Open-Commercial Debt Service Coverage Ratio of 1.14 is below guideline minimum of 1.15 - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | LTV of 50% Principal's 20 years of industry experience |
XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 318373 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Ineligible Property Type | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Property type is ineligible due to The subject property does not meet XXX policy requirement for a minimum Metropolitan Statistical Area population of 50,000. . The subject property does not meet XXX policy requirement for a minimum Metropolitan Statistical Area population of 50,000. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Property type is ineligible due to The subject property does not meet XXX policy requirement for a minimum Metropolitan Statistical Area population of 50,000. . The subject property does not meet XXX policy requirement for a minimum Metropolitan Statistical Area population of 50,000. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low Collateral LTV DSCR greater than guideline min 1.15 |
XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 701501 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Acknowledged | 3 - Material | Property | Property Issue | Property Damage Present | Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX Unable to Resolve-Unable to Resolve-55% LTV. Appraisal made as-is and the property condition is considered in the value/LTV. Given the low LTV and lost cost-to-cure, XXX felt comfortable proceeding. Generally, the borrower is expected to maintain the property and complete any necessary repairs. No structural concerns or leaks were noted. - Seller-XX/XX/XXXX Counter-This is part of the securitization review requested by the investment banks, MCP is not relevant for the property damage and condition findings. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Some deferred maintenance is allowable per XXX MCP. In general, minor and/or cosmetic deferred maintenance shall be limited to 5% of XXX review value up to a maximum of $X,XXX.XX. The cost to cure of $X,XXX.XX0 as determined by the appraiser fits in MCP - Seller-XX/XX/XXXX Open-Property Damage Present. Appraiser noted deferred maintenance which included: missing ceiling tiles in kitchen, unfinished sheetrock in bathroom and 2nd floor hallway, damaged doorframe trim, water damaged in kitchen, and basement half bath is nonfunctional. Appraiser provided cost to cure of $X,XXX.XX which is accounted for in the sales grid as a separate line-item adjustment. An escrow for the repairs was not collected at closing. - Due Diligence Vendor-XX/XX/XXXX |
Unable to Resolve-Unable to Resolve-55% LTV. Appraisal made as-is and the property condition is considered in the value/LTV. Given the low LTV and lost cost-to-cure, XXX felt comfortable proceeding. Generally, the borrower is expected to maintain the property and complete any necessary repairs. No structural concerns or leaks were noted. - Seller-XX/XX/XXXX Ready for Review-Some deferred maintenance is allowable per XXX MCP. In general, minor and/or cosmetic deferred maintenance shall be limited to 5% of XXX review value up to a maximum of $X,XXX.XX. The cost to cure of $X,XXX.XX as determined by the appraiser fits in MCP - Seller-XX/XX/XXXX |
Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 701501 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX00 is less than the Guideline Minimum Loan Amount of $X,XXX.XX00, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 701501 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 644 is less than Guideline FICO of 650, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 644 is less than Guideline FICO of 650, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 701501 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Hazard Insurance Policy is Partial | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided; However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided; However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 701501 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Required Documentation is Missing | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Documentation provided in the loan file indicated that the Borrower's primary residence was under a bankruptcy repayment plan, but no evidence of any bankruptcy was reported on the credit report. In addition, no evidence the primary residence is now free and clear as noted was provided. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Documentation provided in the loan file indicated that the Borrower's primary residence was under a bankruptcy repayment plan, but no evidence of any bankruptcy was reported on the credit report. In addition, no evidence the primary residence is now free and clear as noted was provided. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 145658 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Subject property is vacant and loan purpose is refinance | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is vacant and loan purpose is refinance. Subject property is vacant and loan purpose is refinance, policy exceptions approved as High Fico and Seasoned Investor. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is vacant and loan purpose is refinance. Subject property is vacant and loan purpose is refinance, policy exceptions approved as High Fico and Seasoned Investor. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor High Fico Score |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 145658 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-VOR approved as high Fico score. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-VOR approved as high Fico score. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Investor Seasoned High FICO score |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 621635 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower living rent free in primary residence; However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower living rent free in primary residence; However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned investor High FICO |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 524995 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX00 is less than the Guideline Minimum Loan Amount of $X,XXX.XX00 - The lender provided an approved exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 577359 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 1.053 is below guideline minimum of 1.25, Lende provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 1.053 is below guideline minimum of 1.25, Lende provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
High FICO | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 626575 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing Lease Agreement | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Missing Lease Agreement. Lease Agreement is missing, borrower provides the LOE pg# 170; however, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Missing Lease Agreement. Lease Agreement is missing, borrower provides the LOE pg# 170; however, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends Strong DCR |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 187953 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Trade line count does not meet program requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Trade line count does not meet program requirements. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Trade line count does not meet program requirements. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 187953 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower staying Rent Free in Primary Residence. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower staying Rent Free in Primary Residence. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 187953 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX . However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX . However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 282627 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 633 is less than Guideline FICO of 650 . Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 633 is less than Guideline FICO of 650 . Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends Low LTV |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 294739 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Ineligible Property Type | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is in Rural area. The lender provided an approved an exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is in Rural area. The lender provided an approved an exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor Seasoned Business |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 294739 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Subject property is vacant and loan purpose is refinance | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is vacant and loan purpose is refinance. Subject property Vacant on 1of 2 properties. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is vacant and loan purpose is refinance. Subject property Vacant on 1of 2 properties. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Business Seasoned Investor |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 698277 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Borrower 1 Credit Report is Expired | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-The credit report age was greater than 60 days at closing. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-The credit report age was greater than 60 days at closing. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 698277 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 647 is less than Guideline FICO of 650 Lender requires a min FICO of 650 per program guidelines, despite this requirement the qualifying FICO is 647. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 647 is less than Guideline FICO of 650 Lender requires a min FICO of 650 per program guidelines, despite this requirement the qualifying FICO is 647. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 574905 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Assets | Total Qualified Assets for Reserves Post-Close is less than Total Required Reserve Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Open-Total Qualified Assets for Reserves Post-Close of $X,XXX.XX is less than Total Required Reserve Amount of $X,XXX.XX Borrower requires a 3-month Principal and interest ($X,XXX.XX) as reserves. However, borrower is short of $X,XXX.XX after deducting closing cost of $X,XXX.XX from available assets of $X,XXX.XX. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Seasoned Business |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 574905 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 0.838 is below guideline minimum of 1. A lender exception dated prior to consummation was provided and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 0.838 is below guideline minimum of 1. A lender exception dated prior to consummation was provided and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Property Condition High FICO |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 574905 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 69.83% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 69.83% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Seasoned Business |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 748753 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Lender guidelines require a recent 12-month payment history for the borrower's primary residence. Despite this requirement evidence of XXXXXX payment is missing. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Lender guidelines require a recent 12-month payment history for the borrower's primary residence. Despite this requirement evidence of XX/XXXX payment is missing. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Seasoned Business |
XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 748753 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Converge Ratio of $X,XXX.XX is below guideline minimum of 1. Lender provided approved exception for DSCR ratio of 0.95 and calculated ratio is 0.89 which is below the provided exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Converge Ratio of $X,XXX.XX is below guideline minimum of 1. Lender provided approved exception for DSCR ratio of 0.95 and calculated ratio is 0.89 which is below the provided exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Seasoned Business |
XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 465600 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Hazard Insurance Policy is Partial | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided Hazard Insurance premium is required to be paid at close. The Hazard Insurance premium was not paid at closing but paid on a payment plan. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided Hazard Insurance premium is required to be paid at close. The Hazard Insurance premium was not paid at closing but paid on a payment plan. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor High FICO |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 465600 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Loan file is missing verification of housing history for the primary residence. Letter in file indicates borrower is living rent free. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Loan file is missing verification of housing history for the primary residence. Letter in file indicates borrower is living rent free. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor High FICO |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 768499 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Uploaded - Buyer-XX/XX/XXXX Open-Audited FICO of 580 is less than Guideline FICO of 650 . Lender provided approved exception dated prior to consummation however it was listed as unmitigated with no compensating factors listed. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Low LTV | XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 115336 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing VOM or VOR | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Exception noted on uploaded approval - Buyer-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | High FICO Strong reserves |
XXXXX | Investment | Purchase | NA | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 115336 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Verified number of properties does not meet experience requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Loan file only contains evidence of experience for 0 properties which is below the guideline minimum. Borrower is First Time Investor and the subject is land out of state transaction. Borrower provided LOX regarding property management. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Loan file only contains evidence of experience for 0 properties which is below the guideline minimum. Borrower is First Time Investor and the subject is land out of state transaction. Borrower provided LOX regarding property management. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves High FICO |
XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 814779 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX00 is less than the Guideline Minimum Loan Amount of $X,XXX.XX00 Audited Loan Amount of $X,XXX.XX00 is less than the Guideline Minimum Loan Amount of $X,XXX.XX00. The lender provided an approved exception dated prior to consummation and the compensating factor has been validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 667734 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. B1 lives in rent free. However, the lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. B1 lives in rent free. However, the lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 362862 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Verification of Mortgage (VOM) missing payment for XX/XXXX & XX/XXXX. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Verification of Mortgage (VOM) missing payment for 5/26 & 8/26. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Seasoned business |
XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 477165 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Mortgage/Rental lates exceed guidelines | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-As per guideline late payments allowed 1*30, however credit reported 30-59 days late & 120 - 149 days. The lender provided an approved exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Strong DSCR Excess equity |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 609363 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Trade line count does not meet program requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Guideline requires 2 active major consumer credit and/or mortgage accounts. Borrower only has 1 active major account. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Guideline requires 2 active major consumer credit and/or mortgage accounts. Borrower only has 1 active major account. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 609363 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 632 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 632 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 224324 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor Strong Marketing trends |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 876627 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Housing History Does Not Meet Guideline Requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Housing History Does Not Meet Guideline Requirements VOM discloses 3x30 mortgage delinquency in the prior 12 months which exceeds guideline maximum delinquency of 1x30 in last 90 days or 2.30, 0x60 or greater in last 24 months. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Housing History Does Not Meet Guideline Requirements VOM discloses 3x30 mortgage delinquency in the prior 12 months which exceeds guideline maximum delinquency of 1x30 in last 90 days or 2.30, 0x60 or greater in last 24 months. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Strong Marketing Trends |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 151474 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 648 is less than Guideline FICO of 650. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 648 is less than Guideline FICO of 650. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 151474 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Hazard Insurance Policy is Partial | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided Policy on payment plan -do not collect premium at closing - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided Policy on payment plan -do not collect premium at closing - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 108016 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - Lender granted an exception for the loan amount however low LTV is not a valid compensating factor. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 508981 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Acknowledged | 3 - Material | Property | Property Issue | Property Damage Present | Unable to Resolve-Unable to Resolve- 58.93% LTV. Appraisal made as-is and the property condition is considered in the value/LTV. The appraiser deducted a $X,XXX.XX cost-to-cure from the appraised value specifically for the deferred maintenance items. The borrower provided an LOE stating that cash-out proceeds would be used towards repairs. XXX felt comfortable proceeding as-is with the borrower commitment and low LTV. XXX hasn't confirmed the status of repairs but expects the borrower to fulfill their commitment to complete them. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX Open-Property Damage Present. The following were noted by the Appraiser. The east unit on the first floor is being combined from 2 units to 1, the XXXX XX section is in fair condition and needs the following, new flooring, bathroom fixtures and lighting. Deferred Maintenance noted are exterior brick in need of tuckpointing/repair. Concrete Step along west side building in need of repair. Broken Window. The electrical is not labeled and appears older. Peeling paint along third floor soffits. Tile repairs in bathroom of 2nd floor apartment. Missing electrical outlet/light covers. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Post-Close | No | |||||
| XXXXX | XXXX | 508981 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing VOM or VOR | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Private party VOR provided for borrower' primary residence. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Private party VOR provided for borrower' primary residence. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Strong DSCR Seasoned Business |
XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 469299 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Acknowledged | 3 - Material | Property | Property Issue | Property Damage Present | Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX Unable to Resolve-Unable to Resolve-Purchase transaction. Appraisal made as-is and the property condition is considered in the value/LTV. The dental chairs have been removed and the plumbing has been capped. The cost to complete the conversion is considered in the appraised value. XXX granted an exception for deferred maintenance outside of the guideline threshold and was comforted as this is a high fico borrower who maintained strong reserves post-close. XXX hasn't confirmed the status of repairs, but the borrower is expected to complete them. - Buyer-XX/XX/XXXX Open-Property Damage Present. Appraiser noted a cost to cure of $X,XXX.XX to convert the first floor from previous use of a dental office to leasable square footage with the addition of a kitchen, bathroom, flooring, wall patching and painting - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Investment | Purchase | NA | XXXX | Originator Post-Close | No | |||||
| XXXXX | XXXX | 469299 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Exception noted on uploaded approval - Buyer-XX/XX/XXXX Open-Commercial Debt Service Coverage Ratio of 0.825 is below guideline minimum of 1.2. The loan approval narrative mentioned an exception, but the document did not reflect the approval status. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | High FICO Strong reserves |
XXXXX | Investment | Purchase | NA | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 716017 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 634 is less than Guideline FICO of 650 FICO is not met to the Guideline Requirement, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 634 is less than Guideline FICO of 650 FICO is not met to the Guideline Requirement, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor | XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 986554 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 70% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 70% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves High FICO |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 966639 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Missing verification of housing payment history for borrower's primary residence. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Missing verification of housing payment history for borrower's primary residence. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 966639 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 590 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 590 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 216630 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XXXX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong DSCR Low LTV |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 492549 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Delinquent Credit History Does Not Meet Guideline Requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Delinquent Credit History Does Not Meet Guideline Requirements Lender guidelines require a 2-year time period since a chapter XX bankruptcy dismissal or discharge date. Despite this requirement the borrower's chapter XX bankruptcy had only been dismissed for 2 months. The lender provided and exception dated prior to consummation and all compensating factors have been validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Delinquent Credit History Does Not Meet Guideline Requirements Lender guidelines require a 2-year time period since a chapter 13 bankruptcy dismissal or discharge date. Despite this requirement the borrower's chapter XX bankruptcy had only been dismissed for 2 months. The lender provided and exception dated prior to consummation and all compensating factors have been validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong marketing trends | XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 492549 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 561 is less than Guideline FICO of 650 - The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 561 is less than Guideline FICO of 650 - The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends | XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 492549 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower is living rent free and LOE is given. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower is living rent free and LOE is given. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends | XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 583316 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Converge Ratio of 0..954 is below guideline minimum of 1.2. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Converge Ratio of 0..954 is below guideline minimum of 1.2. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Strong Reserves |
XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 262581 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of .913 is below guideline minimum of 1.20. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of .913 is below guideline minimum of 1.20. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Seasoned Investor |
XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 437090 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Uploaded - Buyer-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX. Lender provided an approved exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 336399 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing rent comparable schedule form 1007 | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Uploaded - Buyer-XX/XX/XXXX Open-Missing rent comparable schedule form 1007 - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 336399 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Ineligible Property Type | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property located in town with a population of less than 2,500, which Lender Guidelines consider as being Rural. The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property located in town with a population of less than 2,500, which Lender Guidelines consider as being Rural. The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 336399 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower lives rent free and there is no housing history. The lender provided an exception dated prior to consummation and all compensating factors have been validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower lives rent free and there is no housing history. The lender provided an exception dated prior to consummation and all compensating factors have been validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 661134 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Exception corrected on uploaded approval - Buyer-XX/XX/XXXX Open-Commercial Debt Service Coverage Ratio of 0.652 is below guideline minimum of 1.00. Lender provided approved exception dated prior to consummation but indicated a calculated DSCR of .77. Provide updated lender exception. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
Strong reserves | XXXXX | Other | Purchase | NA | XXXX | Originator Post-Close | No | ||||
| XXXXX | XXXX | 661134 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing VOM or VOR | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Uploaded. Also uploaded is an updated approval with an exception for the VOM being in a non borrowing family member name - Buyer-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | High FICO Strong reserves |
XXXXX | Other | Purchase | NA | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 503278 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Acknowledged | 3 - Material | Property | Property Issue | Property Condition Does Not Meet Requirements | Acknowledged-Unable to Resolve-The finding is acknowledged and graded a C or material. - Due Diligence Vendor-XX/XX/XXXX Unable to Resolve-Unable to Resolve- Appraisal made as-is and the property condition is considered in the value/LTV. No specific deferred maintenance/health and safety issues listed by the appraiser. No cost-to-cure provided. The property is generally dated and could use cosmetic upgrades, but overall functional. XXX felt comfortable proceeding as-is but generally expects the borrower to maintain the property and complete any necessary repairs. - Buyer-XX/XX/XXXX Open-Property Condition Does Not Meet Requirements. The appraiser cited C5 condition for the subject but did not provide any specific issues. The photos represent deferred maintenance, but no significant repairs were noted. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Unable to Resolve-The finding is acknowledged and graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||||
| XXXXX | XXXX | 503278 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Trade line count does not meet program requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Credit report does not have 2 active mortgages and not reviewed for 24 months preceding the loan application. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Credit report does not have 2 active mortgages and not reviewed for 24 months preceding the loan application. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends High FICO |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 503278 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower lives rent free. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Borrower lives rent free. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends High FICO |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 640343 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Verification of Rent (VOR) Document is incomplete. Borrower is living rent free and 12 months verification of rent not provided. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Verification of Rent (VOR) Document is incomplete. Borrower is living rent free and 12 months verification of rent not provided. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends Strong DSCR |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 640343 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 647 is less than Guideline FICO of 650 Audited FICO of 647 is less than Guideline FICO of 650, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 647 is less than Guideline FICO of 650 Audited FICO of 647 is less than Guideline FICO of 650, However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends Strong DSCR |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 641078 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Excessive Seller Contributions | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Seller concessions of 3.85% are greater than max 3% allowed by guidelines. Lender provided approved exception dated prior to consummation but was approved as unmitigated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | High FICO Seasoned business |
XXXXX | Other | Purchase | NA | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 641078 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 72.8% exceeds Guideline LTV of 70% Borrower is a fist time investor, so the LTV has been deducted. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 72.8% exceeds Guideline LTV of 70% Borrower is a fist time investor, so the LTV has been deducted. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Property Condition Seasoned Business |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 641078 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Assets | Total Qualified Assets for Reserves Post-Close is less than Total Required Reserve Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Total Qualified Assets for Reserves Post-Close of $X,XXX.XX is less than Total Required Reserve Amount of $X,XXX.XX Lender provided approved exception date prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Total Qualified Assets for Reserves Post-Close of $X,XXX.XX is less than Total Required Reserve Amount of $X,XXX.XX Lender provided approved exception date prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Property Condition Seasoned business |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 487667 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Credit score not provided | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Correced Uploaded - Seller-XX/XX/XXXX Open-The credit report should be standard reports from at least three national repositories (i.e., tri-merge) and must include a public record search however the credit report in the file has only 1 score. An exception was made prior to consummation however the compensating factor or low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Ready for Review-Correced Uploaded - Seller-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 487667 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - An exception was made prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 307923 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Audited FICO of 637 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation with a compensating factor of low LTV; however, low LTV is not a valid compensating factor as 75% LTV is the maximum for the program. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Seasoned business | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 307923 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Missing verification of mortgage for the borrower's primary residence. Borrower is living rent free as the mortgage on the primary residence in the borrower's spouse's name. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Missing verification of mortgage for the borrower's primary residence. Borrower is living rent free as the mortgage on the primary residence in the borrower's spouse's name. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 152819 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Hazard Insurance Policy is Partial | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Hazard Insurance Policy Partially Provided Policy on payment plan - do not collect premium at closing. The lender provided an approved exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 444760 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Audited FICO of 590 is less than Guideline FICO of 650 - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Low LTV | XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 808367 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Ineligible Property Type | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Uploaded - Buyer-XX/XX/XXXX Open-Property located in rural area, as per GL if Properties located in a town or city with less than 2,500 population will be classified as rural and are not eligible collateral. Lender provided an exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Seasoned investor | XXXXX | Investment | Purchase | NA | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 338148 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves | XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 544109 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded aB or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 0..684 is below guideline minimum of 1. A lender exception dated prior to consummation was provided and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded aB or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 0..684 is below guideline minimum of 1. A lender exception dated prior to consummation was provided and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves Seasoned Business |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 127082 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is greater than Guideline Maximum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is greater than the Guideline Maximum Loan Amount of $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is greater than the Guideline Maximum Loan Amount of $X,XXX.XX - Due Diligence Vendor-XX/XX/XXXX |
Strong reserves | XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 127082 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 0.857is below guideline minimum of 1.2. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 0.857is below guideline minimum of 1.2. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong reserves | XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 426521 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Acknowledged | 3 - Material | Property | Property Issue | Property Condition Does Not Meet Requirements | Unable to Resolve-Unable to Resolve-56.74% LTV. Appraisal made as-is and the property condition is considered in the value/LTV. The borrower provided photos to XXX showing that the security bars had been removed from the windows. The borrower also provided an LOE stating that cash-out proceeds would be used towards property repairs. XXX hasn't confirmed the status of repairs, but expects the borrower to fulfill their commitment to complete them. XXX was further comforted by the low LTV. XXX expects the heating system to be fully operational prior to occupancy. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX Open-Property Condition Does Not Meet Requirements. The appraiser rates the property condition as C5 with a cost to cure of $X,XXX.XX. The appraiser notes exterior paint is chipping/peeling, inoperable heating system and a safety hazard due to security bars on the east bedroom windows. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||||
| XXXXX | XXXX | 426521 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Housing History Does Not Meet Guideline Requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Housing History Does Not Meet Guideline Requirements Guideline allows 1x30 late in last 90 days and 2x30, 0x60 in last 24 months. Credit Report discloses multiple lats payments exceeding 60 days late in the prior 12 months. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Housing History Does Not Meet Guideline Requirements Guideline allows 1x30 late in last 90 days and 2x30, 0x60 in last 24 months. Credit Report discloses multiple lats payments exceeding 60 days late in the prior 12 months. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 318510 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Closing | Borrower 1 Photo ID is expired | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Excess Equity - Buyer-XX/XX/XXXX Open-Borrower photo ID expiration date is XX-XX-XXXX and note is dated XX-XX-XXXX. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 352552 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 621 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 621 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 352552 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Loan file is missing a 12-month verification of rent for the borrower's primary residence. Borrower is living rent free. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Loan file is missing a 12-month verification of rent for the borrower's primary residence. Borrower is living rent free. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 656225 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is greater than Guideline Maximum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is greater than the Guideline Maximum Loan Amount of $X,XXX.XX Audited Loan Amount is greater than the Guideline amount. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is greater than the Guideline Maximum Loan Amount of $X,XXX.XX Audited Loan Amount is greater than the Guideline amount. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves | XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 656225 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Trade line count does not meet program requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Minimum Trade Line does not meet guidelines. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Minimum Trade Line does not meet guidelines. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves |
XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 581633 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Trade line count does not meet program requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Minimum Trade Line does not meet guidelines. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Minimum Trade Line does not meet guidelines. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves |
XXXXX | Investment | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 587333 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 547 is less than Guideline FICO of 650. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 547 is less than Guideline FICO of 650. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV Property Condition |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 587333 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Lender guidelines require a 12 month pay history for any mortgage held on subject property. Despite this requirement, evidence of payment is missing for XX/XX, XX/XX and XX/XX payments for the 1st lien and no history for the 2nd lien. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Lender guidelines require a 12 month pay history for any mortgage held on subject property. Despite this requirement, evidence of payment is missing for XX/XX, XX/XX and XX/XXpayments for the 1st lien and no history for the 2nd lien. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV Property Condition |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 587333 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Delinquent Credit History Does Not Meet Guideline Requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Delinquent Credit History Does Not Meet Guideline Requirements Lender guidelines require verification of no less than 1x30x12 or 0x30x3 on any mortgage. Despite this requirement, there are multiple mortgage lates on credit. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Delinquent Credit History Does Not Meet Guideline Requirements Lender guidelines require verification of no less than 1x30x12 or 0x30x3 on any mortgage. Despite this requirement, there are multiple mortgage lates on credit. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV Property Condition |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 511357 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Mortgage/Rental lates exceed guidelines | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-As per guideline, maximum number of late payments in the recent 12 months is 1*30 days for current mortgage. Since the credit report reflected 2 lates in 12 months, one is 30-59 days late-XX/XXXX & 120-149 days late-XX/XXXX. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-As per guideline, maximum number of late payments in the recent 12 months is 1*30 days for current mortgage. Since the credit report reflected 2 lates in 12 months, one is 30-59 days late-XX/XXXX & 120-149 days late-XX/XXXX. However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends. | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 511357 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 620 is less than Guideline FICO of 650 . However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 620 is less than Guideline FICO of 650 . However, the lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends Low LTV |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 415142 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends Low LTV |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 595304 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 70% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 70% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High Fico Seasoned Investor |
XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 595304 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO Strong Reserves |
XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 635462 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Housing History Does Not Meet Guideline Requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Housing History Does Not Meet Guideline Requirements Primary property profile includes Pre-Foreclosure-Notice of Lis Pendens dated XX/XXXX and property profile for an additional REO property reports open Pre-Foreclosure-Notice of Lis Pendens dated XXXX. NO evidence provided that these notices, although dated, had been cleared. Lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Housing History Does Not Meet Guideline Requirements Primary property profile includes Pre-Foreclosure-Notice of Lis Pendens dated XX/XXXX and property profile for an additional REO property reports open Pre-Foreclosure-Notice of Lis Pendens dated XXXX. NO evidence provided that these notices, although dated, had been cleared. Lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Strong reserves Seasoned Business |
XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 635462 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing VOM or VOR | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Exception noted on uploaded approval - Buyer-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Rent History needed for Primary Property is Missing - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Strong reserves | XXXXX | Investment | Purchase | NA | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 751504 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Acknowledged | 3 - Material | Property | Property Issue | Property Condition Does Not Meet Requirements | Open-Property Condition Does Not Meet Requirements. The appraiser listed the property in fair condition but only listed unspecified termite damage in units 1/2/4 and is otherwise unspecified and the need to renovate units 1-4 as the reasons for the grade. A bid for the termite damage repairs came in at $X,XXX.XX and the estimated costs to renovate the housing units was $X,XXX.XX, for a total cost to cure of $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX Unable to Resolve-Unable to Resolve-67.45% LTV, purchase transaction. No active infestation noted. The borrower intends to renovate the units and complete the termite damage repairs. XXX felt comfortable proceeding as-is, there were no structural concerns cited by the appraiser and the current damages appear to be mostly cosmetic in nature. XXX hasn't confirmed the status of repairs, but expects the borrower to complete them. XXX was further comforted as this is a high fico borrower and a low LTV loan. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Investment | Purchase | NA | XXXX | Originator Post-Close | No | |||||
| XXXXX | XXXX | 751504 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of $X,XXX.XX is below guideline minimum of 1.2. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of $X,XXX.XX is below guideline minimum of 1.2. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO score | XXXXX | Investment | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 988675 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Exception noted on uploaded approval - Buyer-XX/XX/XXXX Open-Audited LTV of 69.67% exceeds Guideline LTV of 65% Documentation in the file indicates the borrower as a first time investor, 5% LTV reduction required. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
Strong reserves | XXXXX | Other | Purchase | NA | XXXX | Originator Post-Close | No | ||||
| XXXXX | XXXX | 988675 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing VOM or VOR | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Exception noted on uploaded approval - Buyer-XX/XX/XXXX Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Documentation in file reflects the borrower purchased the current primary only 1 month prior to the close of the subject. Provided documentation of the purchase of this property to validate not a first time homebuyer. In addition. verification of housing history for previous primary is required to meet GL. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Strong reserves | XXXXX | Other | Purchase | NA | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 988675 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Trade line count does not meet program requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Lender guidelines require a minimum of 2 major tradelines reporting on the credit report. Despite this requirement, no tradelines or any credit history was reflected on the credit report. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Lender guidelines require a minimum of 2 major tradelines reporting on the credit report. Despite this requirement, no tradelines or any credit history was reflected on the credit report. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong reserves High FICO |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 648430 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 605 is less than Guideline FICO of 650 . Lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 605 is less than Guideline FICO of 650 . Lender provided an approved exception dated prior to consummation, and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Strong Marketing Trends Strong Reserves |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 382811 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Lender guidelines require a 12-month payment history for any mortgage account paid to a private party. Despite this requirement, the file contained a processor cert for payment history for the subject property. Lender provided approved an exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Lender guidelines require a 12-month payment history for any mortgage account paid to a private party. Despite this requirement, the file contained a processor cert for payment history for the subject property. Lender provided approved an exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned business Low LTV |
XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 382811 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing Verification of Mortgage | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Exception noted on uploaded approval - Buyer-XX/XX/XXXX Open-The file is missing a verification of mortgage required for the borrower's primary residence. Documentation in the file reflects two open mortgages that had not been verified. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Seasoned business | XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 382811 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 1.095 is below guideline minimum of 1.25. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of 1.095 is below guideline minimum of 1.25. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Business Low LTV. |
XXXXX | Other | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 694200 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Commercial Debt Service Coverage Ratio of $X,XXX.XX is below guideline minimum of 1.2 for a Traditional 1 property. Lender provided approved exception dated prior to consummation as unmitigated with no compensating factors provided. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 587567 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 617 is less than Guideline FICO of 650 - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 617 is less than Guideline FICO of 650 - The lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV Strong Reserves |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 237929 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 515 is less than Guideline FICO of 650 - The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 515 is less than Guideline FICO of 650 - The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong DSCR Low LTV |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 440645 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 604 is less than Guideline FICO of 650 - The lender provided an approved exception dated prior to consummation and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 604 is less than Guideline FICO of 650 - The lender provided an approved exception dated prior to consummation and all compensating factors were validated - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 440645 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. - The borrower is living in rent free. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. - The borrower is living in rent free. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 667902 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Trade line count does not meet program requirements | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Minimum Trade Line does not meet guidelines. The lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Minimum Trade Line does not meet guidelines. The lender provided an approved exception dated prior to consummation, and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
High FICO | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 667902 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. (VOM) Document is Missing. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. (VOM) Document is Missing. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
HIgh FICO | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 658055 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Borrower | Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Subject property and primary residence have mortgages with private parties. Guideline requires Verification of Mortgage and 12 months cancelled checks. Loan file only contains a payment ledger. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. Subject property and primary residence have mortgages with private parties. Guideline requires Verification of Mortgage and 12 months cancelled checks. Loan file only contains a payment ledger. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor High FICO. |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 658055 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Ineligible Property Type | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is classified as a Rural property. Rural properties are ineligible. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Subject property is classified as a Rural property. Rural properties are ineligible. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor High FICO |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 885157 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited FICO is less than Guideline FICO | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 608 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited FICO of 608 is less than Guideline FICO of 650 Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong DCR Low LTV. |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 885157 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Low LTV Strong DCR |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 388571 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of $X,XXX.XX is below guideline minimum of 1.00. A lender exception dated prior to consummation was provided and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Commercial Debt Service Coverage Ratio of $X,XXX.XX is below guideline minimum of 1.00. A lender exception dated prior to consummation was provided and all lender compensating factors have been documented and validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong Reserves Seasoned Investor |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 452510 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 69.92% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited LTV of 69.92% exceeds Guideline LTV of 65% Lender Guidelines require a 5% LTV reduction for First Time Investors. Lender provided approved exception dated prior to consummation and all lender compensating factors have been documented and validated - Due Diligence Vendor-XX/XX/XXXX |
High FICO Seasoned Business |
XXXXX | Other | Purchase | NA | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 537048 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Hazard Insurance Policy is Partial | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Corrected approval uploaded - Buyer-XX/XX/XXXX Open-Hazard Insurance Policy Partially Provided Hazard insurance does not meet guideline requirements. Guideline requires policy premium to be paid in full at close; however, the policy premium is paid on a payment plan and premium not collected at closing. Lender provided approved exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
Excess equity |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | ||||
| XXXXX | XXXX | 537048 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Missing Lease Agreement | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Corrected approval uploaded - Seller-XX/XX/XXXX Open-Subject property occupied by tenant, however there is no lease agreement provided in the file. The lender provided approved exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Ready for Review-Corrected approval uploaded - Seller-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 537048 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Open-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX Lender provided approved exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity | XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 561178 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Acknowledged | 3 - Material | Property | Property Issue | Property Condition Does Not Meet Requirements | Unable to Resolve-Unable to Resolve-Purchase transaction. Appraisal made as-is and the property condition is considered in the value/LTV. The buyer of the property provided an estimate that indicates $X,XXX.XX of updates to the residential units which include: new flooring/paint/general cosmetic updates. No health and safety issues cited with the residential units. The commercial unit is an unfinished space which will require a full interior remodel. Currently, there are exposed beams, the flooring needs updating, painting is required and it is unhabitable without a full interior buildout. No cost-to-cure was provided for the updates needed in the commercial space. The retail unit and the two apartments were all vacant at origination and the borrower is expected to complete the necessary repairs prior o occupancy. XXX hasn't further confirmed the status of repairs. XXX was further comforted as the borrower maintained strong reserves post close and is a seasoned investor. - Due Diligence Vendor-XX/XX/XXXX Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX Open-Property Condition Does Not Meet Requirements. Per the appraisal the retail area is currently in poor condition in need of a buildout prior to being habitable/rentable. Two of the 4 upper-level apartments are in poor condition and require updating prior to being habitable/occupied. No cost to cure was noted by the appraiser and no escrow holdback was provided. - Due Diligence Vendor-XX/XX/XXXX |
Acknowledged-Unable to Resolve-The finding is acknowledged and will be graded a C or material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Investment | Purchase | NA | XXXX | Originator Post-Close | No | |||||
| XXXXX | XXXX | 295993 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Ineligible Property Type | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Due to the population of XXXXX being less 2,500 people, the subject does not pass XXX rural guidelines. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Due to the population of XXXXX being less 2,500 people, the subject does not pass XXX rural guidelines. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong DCR Property Condition |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 295993 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Audited Loan Amount is less than Guideline Minimum Loan Amount | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided an approved an exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Audited Loan Amount of $X,XXX.XX is less than the Guideline Minimum Loan Amount of $X,XXX.XX - The lender provided an approved an exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Strong DCR Property Condition |
XXXXX | Investment | Refinance | Cash Out - Other | XXXX | Originator Pre-Close | Yes | ||||
| XXXXX | XXXX | 917179 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Eligibility | Commercial Debt Service Coverage Ratio below guideline minimum | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Corrected Uploaded - Buyer-XX/XX/XXXX Counter-The provided loan approval still shows low LTV as a compensating factors. - Due Diligence Vendor-XX/XX/XXXX Ready for Review-Document Uploaded. Uploaded - Buyer-XX/XX/XXXX Open-The calculated Commercial Debt Service Coverage Ratio of is below guideline minimum of 1. The lender provided an exception dated prior to consummation however the compensating factor of low LTV is not valid. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX |
XXXXX | Excess equity Seasoned Investor |
XXXXX | Other | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Post-Close | No | |||
| XXXXX | XXXX | 917179 | Closed | XXXX-XX-XX XX:XX | XXXX-XX-XX XX:XX | Waived | 2 - Non-Material | Credit | Missing Doc | Hazard Insurance Policy is Partial | Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided The borrower is on a payment plan and the premium will not be collected at closing. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Waived-Exception granted, the finding will be graded a B or non-material. - Due Diligence Vendor-XX/XX/XXXX Waived-Hazard Insurance Policy Partially Provided The borrower is on a payment plan and the premium will not be collected at closing. The lender provided an approved exception dated prior to consummation and all compensating factors were validated. - Due Diligence Vendor-XX/XX/XXXX |
Seasoned Investor | XXXXX | Other | Refinance | No Cash Out - Borrower Initiated | XXXX | Originator Pre-Close | Yes |