EX-99.1 4 ea025949101_ex99-1sch2.htm SCHEDULE 2 - EXCEPTION GRADES

Exhibit 99.1 Schedule 2

 

                                                                                           
  Exception Grades                                                                                      
  Run Date - 9/22/2025 8:31:08 PM                                                                                          
ASF Loan Number SitusAMC Loan ID Customer Loan ID Seller Loan ID Investor Loan Number Loan Exception ID Exception ID Exception Date Exception Type Exception Category Exception Subcategory 15E Category Exception Exception Detail Exception Information Compensating Factors Compensating Factor Information Applying Party Follow-up Comments Cleared Date Cured Date Waived Date Exception Level Grade DBRS Initial Exception Rating DBRS Final Exception Rating Fitch Initial Exception Rating Fitch Final Exception Rating Kroll Initial Exception Rating Kroll Final Exception Rating Moody's Initial Exception Rating Moody's Final Exception Rating S&P Initial Exception Rating S&P Final Exception Rating Note Date Property State Occupancy Purpose Exception Remediation Overall
Initial Loan Grade		 Overall
Final Loan Grade		 Credit
Initial Loan Grade		 Credit
Final Loan Grade		 Compliance
Initial Loan Grade		 Compliance
Final Loan Grade		 Property
Initial Loan Grade		 Property
Final Loan Grade		 Originator QM ATR Status TPR QM ATR Status Is Curable
12025030797 XX XX XX   33785045 12025030797-3831 04/28/2025 Credit Credit Miscellaneous Guideline Credit Exception:   The fraud report is missing for XX Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: 12mo Bank Statement
Disposable Income: $39,905.71

Reserves: 18.18
Guideline Requirement: 9.00

Guidelines Representative FICO: 680
Representative FICO: 724		 SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-08-11): Post-consummation fraud report received.


Reviewer Comment (2025-05-05): Waived with compensating factors at clients request.


Buyer Comment (2025-05-01): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-05-01): Document provided is dated post-consummation.  All credit/income documents are required to be dated on or before consummation date.  If lender is accepting document, can request to waive condition.


Buyer Comment (2025-04-29): trust added to Fraud
     05/05/2025 2 C B C B C B C B C B xx TX Primary Refinance - Cash-out - Other   C B C B A A A A Exempt from ATR Exempt from ATR No
12025021845 XX XX XX   33785206 12025021845-2798 04/18/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   Final 1003 for XX is not provided. The representative FICO score exceeds the guideline minimum by at least 40 points.   SitusAMC Reviewer Comment (2025-04-24): Waived with compensating factors per lender request.
     04/24/2025 2 C B C B C B C B C B xx TX Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025021845 XX XX XX   33785207 12025021845-2800 04/18/2025 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Credit Report and Fraud Report for XX  is not provided. The representative FICO score exceeds the guideline minimum by at least 40 points.   SitusAMC Reviewer Comment (2025-04-24): Waived with compensating factors per lender request.
     04/24/2025 2 D B D B D B D B D B xx TX Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025021845 XX XX XX   33785208 12025021845-578 04/18/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation 1003 Error: Birth Date  was not provided Borrower: XX Birth Date is not provided. The representative FICO score exceeds the guideline minimum by at least 40 points.   SitusAMC Reviewer Comment (2025-04-24): Waived with compensating factors per lender request.
     04/24/2025 2 B B B B B B B B B B xx TX Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025021845 XX XX XX   33785209 12025021845-23698 04/18/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX No evidence of fraud report in file. The representative FICO score exceeds the guideline minimum by at least 40 points.   SitusAMC Reviewer Comment (2025-04-24): Waived with compensating factors per lender request.
     04/24/2025 2 C B C B C B C B C B xx TX Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025021845 XX XX XX   33785211 12025021845-4507 04/18/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Certificate of Good Standing provided is not recent.       Reviewer Comment (2025-04-23): Clear


Buyer Comment (2025-04-21): Please find cert of good standing. Please accept although past 10 days from the Note. Thank you.
 04/23/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025021845 XX XX XX   33785212 12025021845-4513 04/18/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided           Reviewer Comment (2025-04-23): Clear


Buyer Comment (2025-04-21): Please find attached. Thank you
 04/23/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025022088 XX XX XX   33785215 12025022088-23698 04/18/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX Full fraud report is required in the file       Reviewer Comment (2025-08-04): A post-consummation fraud report was provided.


Reviewer Comment (2025-04-28): clear


Buyer Comment (2025-04-24): Please find attached final fraud guard for the borrower. Thank you.
 04/28/2025     1 C A C A C A C A C A xx AZ Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025022088 XX XX XX   33785217 12025022088-2924 04/18/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Full Fraud Report is required in the file for all guarantors/borrowers. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 660
Representative FICO: 743		 SitusAMC Reviewer Comment (2025-08-04): A post-consummation fraud report was provided.


Reviewer Comment (2025-04-28): Waived with compensating factors at clients request.


Buyer Comment (2025-04-24): Please waive.


Reviewer Comment (2025-04-23): Need for second guarantor .


Buyer Comment (2025-04-21): Fraud Report attached
     04/28/2025 2 C B C B C B C B C B xx AZ Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025022088 XX XX XX   33785218 12025022088-2798 04/18/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   1003/credit application is required for second Guarantor. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 660
Representative FICO: 743		 SitusAMC Reviewer Comment (2025-04-28): Waived with compensating factors at clients request.


Buyer Comment (2025-04-24): Please waive all guarantor conditions to an exception grade of 2 due to the following compensating factors:
Borrowers' fico score is 40+ points over the minimum required for program/product.
Borrowers ltv of 65% is less than the max permitted for this program/product. Borrower is an experienced property owner/landlord. Thank you.
     04/28/2025 2 C B C B C B C B C B xx AZ Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025022088 XX XX XX   33785219 12025022088-2800 04/18/2025 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Required for second Guarantor. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 660
Representative FICO: 743		 SitusAMC Reviewer Comment (2025-04-28): Waived with compensating factors at clients request.


Buyer Comment (2025-04-24): Please waive all guarantor conditions to an exception grade of 2 due to the following compensating factors:
Borrowers' fico score is 40+ points over the minimum required for program/product.
Borrowers ltv of 65% is less than the max permitted for this program/product. Borrower is an experienced property owner/landlord. Thank you.


Reviewer Comment (2025-04-23): Required for second guarantor.


Buyer Comment (2025-04-21): Credit Report attached
     04/28/2025 2 D B D B D B D B D B xx AZ Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025022088 XX XX XX   33785220 12025022088-6460 04/18/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file   Required for second Guarantor. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 660
Representative FICO: 743		 SitusAMC Reviewer Comment (2025-08-04): Post-consummation fraud report provided


Reviewer Comment (2025-04-28): Waived with compensating factors at clients request.


Buyer Comment (2025-04-24): Please waive all guarantor conditions to an exception grade of 2 due to the following compensating factors:
Borrowers' fico score is 40+ points over the minimum required for program/product.
Borrowers ltv of 65% is less than the max permitted for this program/product. Borrower is an experienced property owner/landlord. Thank you.
     04/28/2025 2 C B C B C B C B C B xx AZ Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025031129 XX XX XX   33785258 12025031129-2924 04/22/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided           Reviewer Comment (2025-04-24): Received


Buyer Comment (2025-04-23): Fraud Report Attached
 04/24/2025     1 C A C A C A C A C A xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031129 XX XX XX   33785259 12025031129-5205 04/22/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   OFAC is missing for the business entity and the guarantor. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 74.15
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 770		 SitusAMC

SitusAMC		 Reviewer Comment (2025-08-11): Post-consummation clear OFAC provided for additional guarantor and borrowing entity.


Reviewer Comment (2025-04-29): Waived with compensating factors at clients request.


Buyer Comment (2025-04-25): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-04-24): Received fraud report; however, Calvin, who signed loan documents, is not reflected in the OFAC searches.  Please provide OFAC for this individual, as guidelines require OFAC on all parties to the transaction.


Buyer Comment (2025-04-23): see attached fraud report
     04/29/2025 2 C B C B C B C B C B xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031129 XX XX XX   33785261 12025031129-7901 04/22/2025 Credit Credit Credit Documentation Credit OFAC was not checked and required per guidelines. Credit Report: Original // Borrower: XX         Reviewer Comment (2025-04-24): Received


Buyer Comment (2025-04-23): see attached fraud report
 04/24/2025     1 C A C A C A C A C A xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031129 XX XX XX   33785262 12025031129-23698 04/22/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX         Reviewer Comment (2025-04-24): Received


Buyer Comment (2025-04-23): see attached fraud report
 04/24/2025     1 C A C A C A C A C A xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031129 XX XX XX   33785263 12025031129-3831 04/22/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Photo ID was not provided for XX. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 74.15
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 770		 SitusAMC

SitusAMC		 Reviewer Comment (2025-04-24): Waived with compensating factors per lender request.


Buyer Comment (2025-04-24): Lender accepts.  Please waive with available compensating factors
     04/24/2025 2 C B C B C B C B C B xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031129 XX XX XX   33785264 12025031129-578 04/22/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation 1003 Error: Birth Date  was not provided Borrower: XX Signed as member only. Not provided. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 74.15
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 770		 SitusAMC

SitusAMC		 Reviewer Comment (2025-04-24): Waived with compensating factors per lender request.


Buyer Comment (2025-04-24): Lender accepts.  Please waive with available compensating factors
     04/24/2025 2 B B B B B B B B B B xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031129 XX XX XX   33785265 12025031129-5383 04/22/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Spousal Consent Form not provided   Spousal consent was not provided. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 74.15
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 770		 SitusAMC

SitusAMC		 Reviewer Comment (2025-04-24): Waived with compensating factors per lender request.


Buyer Comment (2025-04-24): Lender accepts.  Please waive with available compensating factors
     04/24/2025 2 C B C B C B C B C B xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031129 XX XX XX   33785267 12025031129-25749 04/22/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Provide the final Closing Statement fully executed by the borrower or stamped true and certified with signature from title representative. Copy provided is an estimate.       Reviewer Comment (2025-04-24): Received


Buyer Comment (2025-04-24): final
 04/24/2025     1 C A C A C A C A C A xx CA Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025042189 XX XX XX   33785594 12025042189-23698 05/23/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX The guarantee agreement is signed by 3 individuals. The file is missing the fraud report for the third guarantor, XX. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 49.45
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 815		 SitusAMC

SitusAMC		 Reviewer Comment (2025-05-29): Waived with compensating factors per lender exception approval at origination.


Buyer Comment (2025-05-27): Lender accepts.  Please waive with available compensating factors
     05/29/2025 2 C B C B C B C B C B xx PA Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025042189 XX XX XX   33785595 12025042189-578 05/23/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation 1003 Error: Birth Date  was not provided Borrower: XX The guarantee agreement is signed by 3 individuals. The file is missing the application for the third guarantor, XX. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 49.45
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 815		 SitusAMC

SitusAMC		 Reviewer Comment (2025-05-29): Waived with compensating factors per lender exception approval at origination.


Buyer Comment (2025-05-27): Lender accepts.  Please waive with available compensating factors
     05/29/2025 2 B B B B B B B B B B xx PA Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025042189 XX XX XX   33785596 12025042189-5205 05/23/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   The guarantee agreement is signed by 3 individuals. The file is missing the OFAC for the third guarantor, XX.  In addition, the file is missing the OFAC search for the business entity. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 49.45
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 815		 SitusAMC

SitusAMC		 Reviewer Comment (2025-08-11): Post-consummation OFAC received for 3rd guarantor.


Reviewer Comment (2025-08-04): Post-consummation OFAC search was provided for third guarantor.


Reviewer Comment (2025-05-29): Waived with compensating factors per lender exception approval at origination.


Buyer Comment (2025-05-27): Lender accepts.  Please waive with available compensating factors
     05/29/2025 2 C B C B C B C B C B xx PA Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
12025042189 XX XX XX   33785597 12025042189-2800 05/23/2025 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   The guarantee agreement is signed by 3 individuals. The file is missing the credit report for the third guarantor, XX. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 49.45
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 815		 SitusAMC

SitusAMC		 Reviewer Comment (2025-05-29): Waived with compensating factors per lender exception approval at origination.


Buyer Comment (2025-05-27): Lender accepts.  Please waive with available compensating factors
     05/29/2025 2 D B D B D B D B D B xx PA Investment Refinance - Cash-out - Other   D B D B     A A   N/A No
400089416 XX XX XX   34448756 1052848771-4436 11/20/2024 Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File) ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing. (Type:Primary/XX/07/2024) Borrower waived right to receive a copy of the appraisal at least three business days prior to closing, and appraisal (Report Date 11/XX/2024) was not provided at or before closing       Buyer Comment (2024-12-10): SG acknowledges and waives this non-material EV2 finding


Seller Comment (2024-12-06): see attached
XX (Unclassified) was uploaded


Reviewer Comment (2024-11-25): Exception remains: Doc XX suggests appraisal was delivered to borrower on 11/XX/2024 which is post note date of 11/XX/2024 provide proof of delivery which is three business days prior to closing


Seller Comment (2024-11-21): Attached appraisal waiver is signed 10/28 prior to appraisal report of 11/XX/24
XX Appraisal Waiver.pdf (Appraisal) was uploaded
     12/10/2024 2 B B B B B B B B B B xx CA Primary Purchase   B B A A B B A A Non QM Non QM No
400094443 XX XX XX   34448761 1052851155-31591 12/20/2024 Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. Valuation Type: Appraisal / Valuation Report Date: 11/XX/2024 File does not contain documentation from lender/seller confirming the condo is warrantable.       Reviewer Comment (2024-12-30): Document provided to verify FNMA approval.  Exception cleared.


Seller Comment (2024-12-24): xx Condo approval.pdf (Credit Review Documentation) was uploaded
 12/30/2024     1 C A C A C A C A C A xx FL Primary Purchase   C A C A A A A A Non QM Non QM No
400095900 XX XX XX   34448767 1052867917-6498 12/27/2024 Property Property - Appraisal Appraisal Reconciliation Property - Appraisal Appraisal is required to be in name of Lender Valuation Type: Appraisal / Valuation Report Date: 09/XX/2024 The transfer letter in file has a date of 13/XX/2024 and it states the appraisal was transferred to XX The lender is, XX       Reviewer Comment (2025-01-07): Appraisal Transfer Letter received and verified. Exception cleared.


Seller Comment (2025-01-06): TXX
 01/07/2025     1 B A B A B A B A B A xx NY Investment Refinance - Cash-out - Other   B A A A A A B A Non QM N/A No
400093743 XX XX XX   34448773 4000056133-855 12/12/2024 Credit Loan Package Documentation Application / Processing Loan Package Documentation FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster. Most Recent Valuation Inspection Date: 10/XX/2024                 
Disaster End Date: 11/XX/2024
Disaster Name: XX
Disaster Declaration Date: 10/XX/2024		   Property inspected post disaster but pre-FEMA declaration of disaster end date. Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: 10/xx/2024. SitusAMC Reviewer Comment (2024-12-12): Most Recent Valuation Inspection Date: 10/XX/2024 Disaster End Date: 11/XX/2024 Disaster Name: HURRICANE XX Disaster Declaration Date: 10/XX/2024
     12/12/2024 2 B B B B B B B B B B xx FL Primary Purchase   C B C B A A A A Non QM Non QM No
400093743 XX XX XX   34448774 4000056133-33616 12/12/2024 Credit Disclosure Missing Document Disclosure E-sign Consent Agreement is missing. Disclosure: E-Sign Consent Agreement The file is missing copy of E-sign document .       Reviewer Comment (2024-12-13): Received E-Sign Consent Agreement. Exception cleared.


Seller Comment (2024-12-13): Comment from XX: econsent
 12/13/2024     1 C A C A C A C A C A xx FL Primary Purchase   C B C B A A A A Non QM Non QM No
400093632 XX XX XX   34448776 4000057950-32065 12/23/2024 Credit Title Document Error Title The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   The preliminary title policy is within CA and does not reflect a coverage amount (no final title policy in file).       Reviewer Comment (2024-12-23): Accepted as is.
     12/23/2024 2 B B B B B B B B B B xx CA Primary Purchase   B B B B A A A A Non QM Non QM No
400091279 XX XX XX   34448813 12024090289-2798 10/21/2024 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003     Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		   SitusAMC

SitusAMC

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SitusAMC		 Reviewer Comment (2024-11-25): Waived with compensating factors per client request.


Buyer Comment (2024-11-21): Lender accepts. Please waive with available compensating factors.


Reviewer Comment (2024-10-23): This loan closed using income to qualify and while it is an investment transaction, it is considered a CCT loan and tested as such.  A final 1003 will be required to clear this condition.


Buyer Comment (2024-10-21): Hello - this is a Business purpose loan and final 1003 is not required.  Please see attached initial 1003. thank you
     11/25/2024 2 C B C B C B C B C B xx PA Investment Purchase   C B C B A B A A N/A N/A No
400091279 XX XX XX   34448814 12024090289-23928 10/21/2024 Credit Missing Document General Missing Document Missing Document: Verification of Non-US Citizen Status not provided     Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		   SitusAMC

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SitusAMC		 Reviewer Comment (2024-11-25): Waived with compensating factors per client request.


Buyer Comment (2024-11-21): Lender accepts. Please waive with available compensating factors.


Reviewer Comment (2024-10-28): Updated 1003 received, along with LOE to borrower; however, need signed, final 1003 received back from borrower to update citizenship status.


Buyer Comment (2024-10-24): please see attached final 1003 - thank you


Reviewer Comment (2024-10-23): Per the 1st page of the 1003 provided, borrower is a non-permanent resident alien.


Buyer Comment (2024-10-23): Borrower is a US Citizen per 1003
     11/25/2024 2 C B C B C B C B C B xx PA Investment Purchase   C B C B A B A A N/A N/A No
400091279 XX XX XX   34448816 12024090289-24752 10/21/2024 Credit 1003 Document Error 1003 Borrower(s) is not a U.S. Citizen, and the guideline required documentation was not provided. Borrower: XX Missing evidence of non-permanent resident alien status. Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		   SitusAMC

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SitusAMC		 Reviewer Comment (2024-11-25): Waived with compensating factors per client request.


Buyer Comment (2024-11-21): Lender accepts. Please waive with available compensating factors.


Reviewer Comment (2024-10-23): Per the 1st page of the 1003 in initial submission and provided in trailing documents, borrower is a non-permanent resident alien.


Buyer Comment (2024-10-22): Borrower is a US citizen per 1003.  Please cancel exception.
     11/25/2024 2 C B C B C B C B C B xx PA Investment Purchase   C B C B A B A A N/A N/A No
400091279 XX XX XX   34448817 12024090289-31472 10/23/2024 Compliance Compliance Federal Compliance Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1:  Title Co. Closing Statement Used For Fee Testing Non Material Missing Final HUD-1: Title Company Closing Statement used for any applicable Federal, State or Local compliance testing.  Investment occupancy with business purpose cert in file. Business purpose loans exempt from RESPA HUD-1 requirement. EV2 informational finding to indicate which document was used to source fees for any applicable testing. File closed using title company closing statement and not a HUD-1 or final CD. This is an EV2 condition client can elect to waive if a HUD-1 or CD cannot be provided.       Reviewer Comment (2024-11-25): Client elects to waive.


Buyer Comment (2024-11-25): Please waive to EV2 condition for HUD1/Final CD.
     11/25/2024 2   B   B   B   B   B xx PA Investment Purchase   C B C B A B A A N/A N/A No
400103303 XX XX XX   34448827 1052925248-30935 03/20/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Loan originated as Primary residence, yet URLA declarations indicates borrower will not occupy. Borrower: XX The subject transaction is "Purchase of Primary" but as per declaration section "5A - Will you occupy the property as you Primary Residence?" is check as "No" for Co-Borrower.       Reviewer Comment (2025-03-25): Co-borrower is non occupant, exception cleared.


Seller Comment (2025-03-21): Can we please have the condition below waived. See comments on the 1008, under "transaction", Co-Borrower is a non-occupant. the 1003 is correctly marked as "no"
 03/25/2025     1 C A C A C A C A C A xx NY Primary Purchase   C B C A C B A A Non QM Non QM No
400103303 XX XX XX   34448829 1052925248-6542 03/20/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Underwriting Fee.  Fee Amount of $1,295.00 exceeds tolerance of $1,195.00.  Insufficient or no cure was provided to the borrower. (73196) Underwriting Fee disclosed as $1,195.00 on LE dated 01/XX/2025, but disclosed as $1,295.00 on Final Closing Disclosure. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-03-28): SitusAMC Received Corrected PCCD, LOE and Payment history.


Seller Comment (2025-03-26): please see cure uploaded


Reviewer Comment (2025-03-24): SitusAMC received LOE stating LE dated 01/08 was generated by broker by mistake, but the file contains borrower signed intent to proceed dated 01/08 and we cannot ignore the LE dated 01/08 from testing. LE 3-day timing is triggered by the earlier of broker or creditor application date. A valid change circumstance or cure will be required. Cure requirements include LOE, corrected CD, proof of mailing and copy of refund check.


Seller Comment (2025-03-21): Please see rebuttal letter and intial LE previously submitted.
   03/28/2025   2 C B C B C B C B C B xx NY Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C A C B A A Non QM Non QM No
400103303 XX XX XX   34448830 1052925248-6542 03/20/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Review Fee.  Fee Amount of $205.00 exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower. (75104) Appraisal Review Fee of $205.00 was not disclosed on Loan Estimate.  Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-03-28): SitusAMC Received Corrected PCCD, LOE and Payment history.


Seller Comment (2025-03-26): Please see attached for LOE, PR,COC PCCD.
xx PCCD COC PR.pdf (Unclassified) was uploaded


Reviewer Comment (2025-03-24): SitusAMC received LOE stating LE dated 01/xx was generated by broker by mistake, but the file contains borrower signed intent to proceed dated 01/08 and we cannot ignore the LE dated 01/xx from testing. LE 3-day timing is triggered by the earlier of broker or creditor application date. A valid change circumstance or cure will be required. Cure requirements include LOE, corrected CD, proof of mailing and copy of refund check.


Seller Comment (2025-03-21): See rebuttal ltr and initial LE
REBUTTAL LTR AND INITIAL LE.pdf (Unclassified) was uploaded
   03/28/2025   2 C B C B C B C B C B xx NY Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C A C B A A Non QM Non QM No
400103303 XX XX XX   34448831 1052925248-6542 03/20/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for MERS Fee.  Fee Amount of $24.95 exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower. (7539) MERS Fee of $24.95 was not disclosed on Loan Estimate.  Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-03-28): SitusAMC Received Corrected PCCD, LOE and Payment history.


Seller Comment (2025-03-26): please see cure uploaded


Reviewer Comment (2025-03-24): SitusAMC received LOE stating LE dated 01/xx was generated by broker by mistake, but the file contains borrower signed intent to proceed dated 01/xx and we cannot ignore the LE dated 01/08 from testing. LE 3-day timing is triggered by the earlier of broker or creditor application date. A valid change circumstance or cure will be required. Cure requirements include LOE, corrected CD, proof of mailing and copy of refund check.


Seller Comment (2025-03-21): Please see rebuttal letter and intial LE previously submitted.
   03/28/2025   2 C B C B C B C B C B xx NY Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C A C B A A Non QM Non QM No
400103303 XX XX XX   34448832 1052925248-25838 03/20/2025 Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. Address: XX Statement Closing Statement/First Payment Letter/Statement for XX not provided.       Reviewer Comment (2025-03-28): HUD and closing instructions provided.


Reviewer Comment (2025-03-27): Exception Remains - Required Closing Disclosure or Mortgage Statement for REO property 1XX to verify PITIA amount, unable to identify PITIA amount on provided final HUD-1.


Seller Comment (2025-03-26): Pleased see attached final hud
REO Final HUD.pdf (Unclassified) was uploaded


Reviewer Comment (2025-03-24): Exception Remains - The new mortgage has been taken on this property XX Provide the final closing disclosure or Mortgage statement..


Seller Comment (2025-03-21): Per Closing instruction P&I is calculated at $138,750, 30 years, @ 7.4% interest rate =$960.68.
XX POST CLOSING INSTRUCTIONS.pdf (Unclassified) was uploaded


Reviewer Comment (2025-03-21): Tax and Insurance verification received, mortgage statement is required or document confirming P&I of the property. HUD document is not clear. Exception Remains.


Seller Comment (2025-03-20): Please see attached
XXpdf (Unclassified) was uploaded
 03/28/2025     1 C A C A C A C A C A xx NY Primary Purchase   C B C A C B A A Non QM Non QM No
400103323 XX XX XX   34448836 250227238-6572 03/20/2025 Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. (Type:Primary/XX/13/2025) Appraisal report dated 02/XX/2025 is missing evidence of receipt.       Reviewer Comment (2025-03-21): Appraisal delivery receipt received. Exception Cleared.


Buyer Comment (2025-03-20): Proof of Appraisal Delivery was included in the initial shipping package and is located in your portal under doc ID XX.
 03/21/2025     1 B A B A B A B A B A xx FL Second Home Purchase   C B C B B A A A Non QM Non QM No
400103323 XX XX XX   34448838 250227238-31591 03/20/2025 Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. Valuation Type: Appraisal / Valuation Report Date: 02/XX/2025 File does not contain documentation from lender/seller confirming the condo is warrantable.       Reviewer Comment (2025-03-21): Questionnaire provided meets guides.


Reviewer Comment (2025-03-21): Exception Remains - HOA Questionnaire is available in file however required Project approval also to associate.


Buyer Comment (2025-03-20): Condo Questionnaire supporting warrantability was included in the initial shipping package and is in your portal under doc ID XX.
 03/21/2025     1 C A C A C A C A C A xx FL Second Home Purchase   C B C B B A A A Non QM Non QM No
400103323 XX XX XX   34448840 250227238-3831 03/20/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception required due to HOA shows a 29.5% delinquency rate which exceeds the non- warrantable condo max of 25% is approved Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 28.46
Guideline Requirement: 3.00

DTI: 33.03073%
Guideline Maximum DTI: 45.00000%

Guidelines Representative FICO: 680
Representative FICO: 787		 SitusAMC

SitusAMC

Aggregator,SitusAMC

SitusAMC

Aggregator,SitusAMC

Aggregator,SitusAMC		 Reviewer Comment (2025-03-21): Client elects to waive with comp factors.


Buyer Comment (2025-03-20): This should never be released as a finding and needs to be signed off with a level 2 grade.
     03/21/2025 2 C B C B C B C B C B xx FL Second Home Purchase   C B C B B A A A Non QM Non QM No
400103323 XX XX XX   34448841 250227238-3831 03/21/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception: HOA Master Policy Peril coverages does not include Falling Objects and Weight of Snow. Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 28.46
Guideline Requirement: 3.00

DTI: 33.03073%
Guideline Maximum DTI: 45.00000%

Guidelines Representative FICO: 680
Representative FICO: 787		 SitusAMC

SitusAMC

Aggregator,SitusAMC

SitusAMC

Aggregator,SitusAMC

Aggregator,SitusAMC		 Reviewer Comment (2025-03-21): Client elects to waive with comp factors.
     03/21/2025 2   B   B   B   B   B xx FL Second Home Purchase   C B C B B A A A Non QM Non QM No
400103257 XX XX XX   34448848 250226795-6583 03/24/2025 Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $155.50 exceeds tolerance of $100.00.  Sufficient or excess cure was provided to the borrower at Closing. (7520) Credit report fee amount of $155.50 exceeds tolerance of $100.00. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-03-20): Sufficient Cure Provided At Closing
   03/20/2025   1 A A A A A A A A A A xx IN Primary Refinance - Cash-out - Other Final CD evidences Cure A A A A A A A A Non QM Non QM No
400103316 XX XX XX   34448850 250226922-6572 03/24/2025 Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. (Type:Primary/XX/21/2025) No evidence in file showing borrower received copy of appraisal.       Reviewer Comment (2025-03-26): Appraisal delivery confirmation document was provided , Exception cleared.


Buyer Comment (2025-03-25): The proof of delivery was provided in the initial shipping package Doc ID XX page 667, which reflets the appraisal report was sent on 2/XX/2025, the presumed receipt date is 2/XX/2025, the loan closed on 3/XX/2025, the 3 business day ECOA requirements were met.
 03/26/2025     1 B A B A B A B A B A xx GA Primary Purchase   C A A A C A A A Non QM Non QM No
400103316 XX XX XX   34448854 250226922-6542 03/24/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $175.00 exceeds tolerance of $100.00.  Insufficient or no cure was provided to the borrower. (7520) Credit fee disclosed as $100.00 on initial CD and as $175.00 on final CD. No valid change in circumstance or cure for borrower provided.       Reviewer Comment (2025-03-27): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.


Buyer Comment (2025-03-25): The $75 cure for the increase in the credit report fee was applied to the Final CD Doc ID XX page 190, section J which states "Includes $75.00 credit for increase in Closing Costs above legal limit".
 03/27/2025     1 C A C A C A C A C A xx GA Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Non QM Non QM No
400103316 XX XX XX   34448855 250226922-6583 03/27/2025 Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $175.00 exceeds tolerance of $100.00.  Sufficient or excess cure was provided to the borrower at Closing. (7520)         Reviewer Comment (2025-03-27): Sufficient Cure Provided At Closing
   03/27/2025   1   A   A   A   A   A xx GA Primary Purchase Final CD evidences Cure C A A A C A A A Non QM Non QM No
400104764 XX XX XX   34448884 1052925711-5366 03/25/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Investor qualifying total debt ratio discrepancy. Calculated investor qualifying total debt ratio of 53.55165% exceeds Guideline total debt ratio of 50.00000%. Calculated investor qualifying total debt ratio of 53.71189% exceeds Guideline total debt ratio of 50.00000%.  Unable to determine difference as UW Income analysis in file reflects same income as used in review.       Reviewer Comment (2025-04-02): Received updated documentation regarding excluded debts allowed per guides and using rental income. Condition cleared.


Seller Comment (2025-04-01): see updated 1003-1008 and lease. UW Director re-worked income and assets
XX 1003 1008 and Lease.pdf (Unclassified) was uploaded
 04/02/2025     1 C A C A C A C A C A xx CA Primary Purchase   C A C A C A A A Non QM Non QM No
400104764 XX XX XX   34448885 1052925711-3136 03/25/2025 Compliance Compliance Federal Compliance RESPA RESPA Disclosure - List of Homeownership Counseling Organizations Not Provided Within 3 Business Days of Application RESPA Disclosure Rule (Dodd-Frank 2014): List of Homeownership Counseling Organizations not provided to applicant within three (3) business days of application. List of Homeownership Counseling Organizations not provided to applicant within three (3) business days of application.       Reviewer Comment (2025-04-03): Exception Cleared; RESPA Homeownership Counseling List disclosure is received within 3 days of Application date.


Seller Comment (2025-04-02): see attached
XX LE and Home Counciling.pdf (Unclassified) was uploaded
 04/03/2025     1 B A B A B A B A B A xx CA Primary Purchase   C A C A C A A A Non QM Non QM No
400104764 XX XX XX   34448886 1052925711-26033 03/25/2025 Compliance Compliance Federal Compliance TRID Defect TRID Initial Loan Estimate Timing Electronically Provided TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application. (Initial/XX/19/2025) Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.       Reviewer Comment (2025-04-10): SitusAMC received adverse action notice from Net 1 Funding confirming borrower withdraw of prior application


Seller Comment (2025-04-09): see attached
XX Termination of Application.pdf (Unclassified) was uploaded


Reviewer Comment (2025-04-04): SitusAMC received LOE explaining 02/xx application was from Net1 funding. To remove LE and application from testing an adverse action/Deniel letter is required with reason for cancellation.


Seller Comment (2025-04-02): XX Rebuttal and 1003.pdf (Unclassified) was uploaded
 04/10/2025     1 C A C A C A C A C A xx CA Primary Purchase   C A C A C A A A Non QM Non QM No
400104764 XX XX XX   34448888 1052925711-5695 03/25/2025 Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. Waterfall finding due to the DTI issue.       Reviewer Comment (2025-04-02): Received updated documentation regarding excluded debts allowed per guides and using rental income. Condition cleared.


Seller Comment (2025-04-01): see updated 1003-1008 and lease. Re-worked income and assets
XX 1003 1008 and Lease.pdf (Unclassified) was uploaded
 04/02/2025     1 C A C A C A C A C A xx CA Primary Purchase   C A C A C A A A Non QM Non QM No
400104764 XX XX XX   34448889 1052925711-25034 03/25/2025 Compliance Compliance Federal Compliance ATR/QM Defect General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 53.55165% moderately exceeds the guideline maximum of 50.00%. (DTI Exception is eligible to be regraded with compensating factors.) Calculated investor qualifying total debt ratio of 53.71189% exceeds Guideline total debt ratio of 50.00000%.  Unable to determine difference as UW Income analysis in file reflects same income as used in review.       Reviewer Comment (2025-04-02): Received updated documentation regarding excluded debts allowed per guides and using rental income. Condition cleared.


Seller Comment (2025-04-01): see updated 1003-1008 and lease. UW Director re-worked income and assets
XX 1003 1008 and Lease.pdf (Unclassified) was uploaded
 04/02/2025     1 C A C A C A C A C A xx CA Primary Purchase   C A C A C A A A Non QM Non QM No
400104764 XX XX XX   34448890 1052925711-25029 03/25/2025 Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. Waterfall finding due to the DTI issue, resulting in a loan designation discrepancy.       Reviewer Comment (2025-04-02): Received updated documentation regarding excluded debts allowed per guides and using rental income. Condition cleared.


Seller Comment (2025-04-01): see updated 1003-1008 and lease. UW Director re-worked income and assets
XX 1003 1008 and Lease.pdf (Unclassified) was uploaded
 04/02/2025     1 B A C A B A C A B A xx CA Primary Purchase Lender to provide updated ATR/QM Loan Designation C A C A C A A A Non QM Non QM No
400104748 XX XX XX   34448892 1052924844-31591 04/08/2025 Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. Valuation Type: Appraisal / Valuation Report Date: 03/XX/2025 File does not contain documentation from lender/seller confirming the condo is warrantable.       Reviewer Comment (2025-04-10): PUD warranty received, exception cleared.


Seller Comment (2025-04-09): XX Condo Warranty.pdf (Credit Review Documentation) was uploaded
 04/10/2025     1 C A C A C A C A C A xx AL Investment Purchase   C A C A B A A A N/A N/A No
400104748 XX XX XX   34448893 1052924844-25838 04/08/2025 Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. Address: XXStatement         Reviewer Comment (2025-04-10): REO documents received, exception cleared.


Seller Comment (2025-04-09): Property was recently Refinanced.  Uploaded is the CD from Refinance to verify previous mortgage with Merchants paid off, XX (Credit Review Documentation) was uploaded
 04/10/2025     1 C A C A C A C A C A xx AL Investment Purchase   C A C A B A A A N/A N/A No
400104748 XX XX XX   34448894 1052924844-6572 04/08/2025 Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. (Type:Primary/XX/13/2025) Verification appraisal was delivered to borrower 3 business days prior to closing was not provided.       Reviewer Comment (2025-04-10): Received Appraisal delivery receipt dated 3/XX/2025. Exception cleared.


Seller Comment (2025-04-09): Loan closed 3/XX/25.  Evidence of delivery at least 3 days prior to closing uploaded.
XXAppraisal Delivery Confirmation.pdf (Delivery Confirmation) was uploaded
 04/10/2025     1 B A B A B A B A B A xx AL Investment Purchase   C A C A B A A A N/A N/A No
400104734 XX XX XX   34448899 1052925172-5366 03/31/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: Investor qualifying total debt ratio discrepancy. Calculated investor qualifying total debt ratio of 60.23171% exceeds Guideline total debt ratio of 50.00000%. Missing Lease agreement for XXproperty.       Reviewer Comment (2025-04-01): Guideline requirement met for short term rental.


Seller Comment (2025-03-31): The property is an XX rental property, in which can rent the property for days at a time. The attachedXX earning reports for 2024 & 2025 shows an average of how often the property is rented
2XXf (Unclassified) was referenced
 04/01/2025     1 C A C A C A C A C A xx FL Primary Purchase   C A C A C A A A Non QM Non QM No
400104734 XX XX XX   34448900 1052925172-29639 03/31/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   Missing Lease agreement for XXproperty.       Reviewer Comment (2025-04-01): Guideline requirement met for short term rental.


Seller Comment (2025-03-31): The property is anXX rental property, in which can rent the property for days at a time. The attached XX earning reports for 2024 & 2025 shows an average of how often the property is rented
XX (Unclassified) was referenced
 04/01/2025     1 C A C A C A C A C A xx FL Primary Purchase   C A C A C A A A Non QM Non QM No
400104734 XX XX XX   34448901 1052925172-25029 03/31/2025 Compliance Compliance Federal Compliance ATR/QM Defect Check Loan Designation Match - ATR Risk Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk. Waterfall exception due to missing lease agreement for XXproperty.       Reviewer Comment (2025-04-01): Guideline requirement met for short term rental.


Seller Comment (2025-03-31): The property is an XX rental property, in which can rent the property for days at a time. The attached XX earning reports for 2024 & 2025 shows an average of how often the property is rented
XX XX.pdf (Unclassified) was referenced
 04/01/2025     1 B A C A B A C A B A xx FL Primary Purchase Lender to provide updated ATR/QM Loan Designation C A C A C A A A Non QM Non QM No
400104734 XX XX XX   34448902 1052925172-5695 03/31/2025 Compliance Compliance Federal Compliance ATR/QM Defect General Ability To Repay Provision Investor Guidelines Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk. Waterfall exception due to missing lease agreement for XXproperty.       Reviewer Comment (2025-04-01): Guideline requirement met for short term rental.


Seller Comment (2025-03-31): The property is an XX rental property, in which can rent the property for days at a time. The attached XX earning reports for 2024 & 2025 shows an average of how often the property is rented
XX XX.pdf (Unclassified) was referenced
 04/01/2025     1 C A C A C A C A C A xx FL Primary Purchase   C A C A C A A A Non QM Non QM No
400104734 XX XX XX   34448903 1052925172-25035 03/31/2025 Compliance Compliance Federal Compliance ATR/QM Defect General ATR Provision Investor and Non QM DTIs match and both significantly exceed Guidelines Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 60.23171% significantly exceeds the guideline maximum of 50.00%. (DTI Exception requires compelling compensating factors to consider regrading to EV2-B.) Waterfall exception due to missing lease agreement for XXproperty.       Reviewer Comment (2025-04-01): Guideline requirement met for short term rental.


Seller Comment (2025-03-31): The property is an XX rental property, in which can rent the property for days at a time. The attached XX earning reports for 2024 & 2025 shows an average of how often the property is rented
XX XX.pdf (Unclassified) was referenced
 04/01/2025     1 C A C A C A C A C A xx FL Primary Purchase   C A C A C A A A Non QM Non QM No
400104734 XX XX XX   34448904 1052925172-33058 03/31/2025 Compliance Compliance Federal Compliance ATR/QM Defect Income/Asset Guideline Deficiency - ATR Impact Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.) Waterfall exception due to missing lease agreement for XXproperty.       Reviewer Comment (2025-04-01): Guideline requirement met for short term rental.


Seller Comment (2025-03-31): The property is an XX rental property,  in which can rent the property for days at a time. The attached XX earning reports for 2024 & 2025 shows an average of how often the property is rented
XX XX.pdf (Unclassified) was uploaded
 04/01/2025     1 C A C A C A C A C A xx FL Primary Purchase   C A C A C A A A Non QM Non QM No
400103320 XX XX XX   34448955 250226846-7901 03/13/2025 Credit Credit Credit Documentation Credit OFAC was not checked and required per guidelines. Credit Report: Original // Borrower: XX Member OFAC not provided.       Reviewer Comment (2025-03-17): Received clear OFAC search for xx Exception cleared.


Buyer Comment (2025-03-14): Submitted OFAC for XX for review.
 03/17/2025     1 C A C A C A C A C A xx OH Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
400103240 XX XX XX   34448958 250226713-31591 03/12/2025 Credit Documents Missing Document Documents File does not contain documentation from lender/seller confirming the condo is warrantable. Valuation Type: Appraisal / Valuation Report Date: 02/XX/2025 File does not contain documentation from lender/seller confirming the condo is warrantable.       Reviewer Comment (2025-03-13): Condominium Preoject Questionnaire in file.


Reviewer Comment (2025-03-13): No new document received. Document with ID D0233 is HOA Questionnaire which does not contain information if condo is warrantable. Provide documentation confirming the condo is warrantable. Exception remains.


Buyer Comment (2025-03-12): Condo Questionnaire supporting warrantability was included in the initial shipping package and is located in your portal under doc ID D0233.
 03/13/2025     1 C A C A C A C A C A xx FL Investment Purchase   C A C A     A A   N/A No
400103248 XX XX XX   34448962 241225700-4264 03/28/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of 2.65 is less than Guideline PITIA months reserves of 6.00. Calculated reserves of 2.65 is less than Guideline reserves requirement of 6.00.       Reviewer Comment (2025-04-04): Received updated instruction stating lender used 01/XX/2025 guides. Condition cleared.


Buyer Comment (2025-04-01): Submitted DataTape with updated version used to qualify. Initial approval went out 12/XX/2024. Prior to the loan being cleared to close on 3/XX/2025, UW applied 1/XX/2025 version with no reserve requirement, which has now been updated.


Reviewer Comment (2025-03-31): Investor connect required 3 months reserves. Exception remains.


Buyer Comment (2025-03-28): 3/XX/2025 – Submitted rebuttal to AMC. File originated on 12/XX/2024 which was after the Investor Connect guidelines were updated as of 10/XX/2024 to allow for no reserves on DSCR product having a ratio over 1.00%.
 04/04/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025020858 XX XX XX   34473454 12025020858-25749 03/27/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated Closing Statement.       Reviewer Comment (2025-04-01): clear


Buyer Comment (2025-03-28): Attached Final SS
 04/01/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025020858 XX XX XX   34473455 12025020858-3831 03/27/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Underwriter income analysis is required when asset utilization is used for income. The worksheet was not provided and is required. DSCR is subject to recalculation.       Reviewer Comment (2025-04-03): clear


Buyer Comment (2025-04-01): Attached is the requested doc.


Reviewer Comment (2025-04-01): Provide the UW Income worksheet.


Buyer Comment (2025-03-28): Attached is doc requested
 04/03/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025041018 XX XX XX   34473471 12025041018-25749 05/02/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   The file is missing the final HUD-1. Copy in file is an estimate.       Reviewer Comment (2025-05-07): clear


Buyer Comment (2025-05-05): final
 05/07/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025041018 XX XX XX   34473472 12025041018-4513 05/02/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   The Articles of Organization for XX is missing from the file.       Reviewer Comment (2025-05-12): Cleared.


Buyer Comment (2025-05-08): Article of Organization
 05/12/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025032271 XX XX XX   34473477 12025032271-2924 05/07/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Missing Full Fraud Report.       Reviewer Comment (2025-05-28): Received


Buyer Comment (2025-05-23): Please find final fraud guard attached.
 05/28/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025032271 XX XX XX   34473478 12025032271-23698 05/07/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX Exception set for missing Fraud Report.       Reviewer Comment (2025-05-28): Received


Buyer Comment (2025-05-23): Please find final fraud guard attached.
 05/28/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025041443 XX XX XX   34473502 12025041443-3831 05/16/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception allowing borrower living rent free with a parent. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 252.88
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 778		 SitusAMC

SitusAMC		 Reviewer Comment (2025-05-16): Waived with compensating factors per lender exception approval at origination.
     05/16/2025 2 B B B B B B B B B B xx MD Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025041923 XX XX XX   34473506 12025041923-25749 05/27/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   The file is missing the final executed HUD/Closing Statement.       Reviewer Comment (2025-06-05): clear


Buyer Comment (2025-06-03): Final
 06/05/2025     1 C A C A C A C A C A xx CT Investment Purchase   C A C A     A A   N/A No
12025040736 XX XX XX   34473552 12025040736-595 06/04/2025 Credit Loan Package Documentation Closing / Title Loan Package Documentation Title Error: Title vesting does not concur with deed   The title commitment reflects open judgments; however, the judgment report was not provided for review. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Loan to Value: 47.82609%
Guideline Maximum Loan to Value: 70.00000%

Guidelines Representative FICO: 660
Representative FICO: 712		 SitusAMC

SitusAMC		 Reviewer Comment (2025-09-22): Clear final title in file.


Reviewer Comment (2025-09-22): Waived in error


Reviewer Comment (2025-07-24): Waived with compensating factors per lender exception approval.


Buyer Comment (2025-07-22): Please see attached exception. Thank you.
 09/22/2025     1 C A C A C A C A C A xx NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025040736 XX XX XX   34473553 12025040736-3831 06/04/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Per final closing statement, judgments that appear to be against the individual guarantors were paid through subject loan closing.  Personal debt cannot be paid through a business purpose loan. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Loan to Value: 47.82609%
Guideline Maximum Loan to Value: 70.00000%

Guidelines Representative FICO: 660
Representative FICO: 712		 SitusAMC

SitusAMC		 Reviewer Comment (2025-07-24): Waived with compensating factors per lender exception approval.


Buyer Comment (2025-07-22): 07/22-Please see attached Exception
     07/24/2025 2 C B C B C B C B C B xx NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025031411 XX XX XX   34473571 12025031411-4507 06/13/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Certificate of Good Standing is older than 90 days.       Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): Please accept in place of "Cert of Good Standing". Thank you.
 07/02/2025     1 C A C A C A C A C A xx IL Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031411 XX XX XX   34473572 12025031411-24197 06/13/2025 Credit Missing Document General Missing Document Missing Document: 1007 Rent Comparison Schedule not provided   Missing from appraisal dated 2/XX/25       Reviewer Comment (2025-07-02): Cleared with most recent 1007.


Buyer Comment (2025-07-01): Please see 2/XX/2025 appraisal attached.
 07/02/2025     1 C A C A C A C A C A xx IL Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025031411 XX XX XX   34473574 12025031411-4245 07/25/2025 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of 80.00000% exceeds Guideline loan to value percentage of 75.00000%. Max LTV with DSCR below 1.0 is 75%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 63.15
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 788		 Originator,SitusAMC

SitusAMC		 Reviewer Comment (2025-07-28): Waived with compensating factors per lender exception approval.


Reviewer Comment (2025-07-28): Cancelled in error.


Reviewer Comment (2025-07-25): Need to get further clarification.
     07/28/2025 2   B   B   B   B   B xx IL Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025041165 XX XX XX   34473583 12025041165-5205 06/16/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   The file is missing the OFAC search for both the borrowing business entities.       Reviewer Comment (2025-07-22): OFAC received


Buyer Comment (2025-07-18): xx (2) business ofac checks attached. Thank you.


Buyer Comment (2025-07-18): Please find documents attached along with exception. Thank you.
 07/22/2025     1 C A C A C A C A C A xx PA Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025041165 XX XX XX   34473584 12025041165-5380 06/16/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   The file is missing the Operating Agreement for the sub-entity, XX. The file contains an email chain that indicates the Lender approved the loan without an Operating Agreement for the sub-entity; however, it appears the sub-entity is not solely owned by the signor as the EIN indicates a different individual as a member of the sub-entity and the Certificate of Formation shows the signor as a member but does not provide the ownership percentage. If the signor is not the sole owner of the sub-entity, documentation to verify the signor has signing authority from all members will be required. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 779		 Originator,SitusAMC Reviewer Comment (2025-07-22): Waived with compensating factors per lender exception approval received in trailing documents.


Buyer Comment (2025-07-18): Please find exception attached. Thank you.
     07/22/2025 2 C B C B C B C B C B xx PA Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025041165 XX XX XX   34473585 12025041165-4062 07/22/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Guarantor is not sole owner of underlying sub-entity and signing authority from all members is not present in loan file. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 779		 Originator,SitusAMC Reviewer Comment (2025-07-22): Waived with compensating factors per lender exception approval received in trailing documents.
     07/22/2025 2   B   B   B   B   B xx PA Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025051337 XX XX XX   34473598 12025051337-23931 06/17/2025 Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy. Title Evidence: Commitment         Reviewer Comment (2025-07-23): Final title received
 07/23/2025     1 A A A A A A A A A A xx PA Investment Purchase   C A C A     A A   N/A No
12025051337 XX XX XX   34473599 12025051337-31588 06/17/2025 Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing. Hazard Insurance Policy Effective Date 06/XX/2025, Disbursement Date: 06/XX/2025         Reviewer Comment (2025-07-09): Cleared Per client, accepting HOI as effective date is same as disbursement date.


Reviewer Comment (2025-07-08): Required to be active at time of closing per guidelines.


Buyer Comment (2025-07-03): The HOI effective date starts on 06/XX/2025. The disbursement date is 06/XX/2025. The HOI effective date is in compliance as it started the same day the settlement agent disbursed the funds. Please advise if you are able to clear, thank you!
 07/09/2025     1 C A C A C A C A C A xx PA Investment Purchase   C A C A     A A   N/A No
12025051337 XX XX XX   34473600 12025051337-5347 06/17/2025 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility The Certificate of Non-Owner Occupied does not show the borrower(s) at an address different than the subject and thus casts doubt on the business purpose of the loan.   The Non-Owner Occupancy Declaration is incomplete as Section 4A is missing the principal residence address.       Reviewer Comment (2025-07-08): clear


Buyer Comment (2025-07-03): Please find completed form attached. Thank you.
 07/08/2025     1 C A C A C A C A C A xx PA Investment Purchase   C A C A     A A   N/A No
12025051337 XX XX XX   34473601 12025051337-33586 06/17/2025 Credit Loan Package Documentation Closing / Title Loan Package Documentation Title search shows negative impact on title.   Title preliminary disclosed various municipal liens.       Reviewer Comment (2025-07-23): Final title received reflecting no additional liens


Buyer Comment (2025-07-22): Please see attached Title Policy. Thank you.


Buyer Comment (2025-07-22): Please see attached. Thank you.
 07/23/2025     1 C A C A C A C A C A xx PA Investment Purchase   C A C A     A A   N/A No
12025051337 XX XX XX   34473602 12025051337-6459 06/17/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-08): clear


Buyer Comment (2025-07-03): Please final clear final fraud guard attached.  Thank you.
 07/08/2025     1 C A C A C A C A C A xx PA Investment Purchase   C A C A     A A   N/A No
12025050778 XX XX XX   34473622 12025050778-5380 06/19/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Missing Operating Agreement for borrowing entity. Additional conditions may apply upon receipt and review of this document.       Reviewer Comment (2025-06-25): Borrowing certificate, allowed per guidelines, received in lieu of operating agreement.


Buyer Comment (2025-06-23): Borrowing certificate
 06/25/2025     1 C A C A C A C A C A xx AZ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050778 XX XX XX   34473624 12025050778-5205 06/19/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for borrowing entity.       Reviewer Comment (2025-06-25): Updated fraud report received reflecting borrowing entity OFAC search


Buyer Comment (2025-06-23): Fraud
 06/25/2025     1 C A C A C A C A C A xx AZ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050778 XX XX XX   34473625 12025050778-6459 06/19/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-06-25): Updated fraud report received reflecting all red flags cleared/addressed.


Buyer Comment (2025-06-23): see attached fraud
 06/25/2025     1 C A C A C A C A C A xx AZ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025042125 XX XX XX   34473627 12025042125-3831 06/20/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide pages 1-3 for the Bylaws. Pages 4-20 provided. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 780		 SitusAMC Reviewer Comment (2025-07-30): Waived with compensating factors at clients request.


Buyer Comment (2025-07-28): Lender accepts.  Please waive with available compensating factors
     07/30/2025 2 C B C B C B C B C B xx NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025042125 XX XX XX   34473628 12025042125-4057 06/20/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Incorporation not provided           Reviewer Comment (2025-07-16): clear


Buyer Comment (2025-07-14): Cert of Incoration
 07/16/2025     1 C A C A C A C A C A xx NY Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025040289 XX XX XX   34473637 12025040289-5205 06/24/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for the borrowing entity.       Reviewer Comment (2025-07-11): Received


Buyer Comment (2025-07-09): Please find clear ofac attached. Thank you.
 07/11/2025     1 C A C A C A C A C A xx WA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025052626 XX XX XX   34473641 12025052626-23698 06/24/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX, Credit Report: Original // Borrower: XX Full Fraud Report is Missing, only Alerts Summary Section Provided.       Reviewer Comment (2025-07-22): Received full fraud report.


Buyer Comment (2025-07-18): Please find the initial fraud guard attached. Thank you.


Reviewer Comment (2025-07-16): Need a full Fraud Report. I have the alert summary.


Buyer Comment (2025-07-14): 07/14-Fraud


Buyer Comment (2025-07-14): 07/14-Please see attached Fraud
 07/22/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025052626 XX XX XX   34473642 12025052626-2924 06/24/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Full Fraud Report is Missing, only Alerts Summary Section Provided.       Reviewer Comment (2025-07-22): Received
 07/22/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025020012 XX XX XX   34473647 12025020012-4264 06/25/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of 0.81 is less than Guideline PITIA months reserves of 2.00. Missing evidence for XX account ending in XX with a balance of $XX.       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): operating agreement


Buyer Comment (2025-06-26): Chase
 06/30/2025     1 C A C A C A C A C A xx NY Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025020012 XX XX XX   34473649 12025020012-596 06/26/2025 Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Lien(s) negatively impacting title   There are 3 open liens on title and only 1 was paid off at closing. Evidence of clear title with XX in first lien position will be required       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): Final
 06/30/2025     1   A   A   A   A   A xx NY Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025042409 XX XX XX   34473658 12025042409-23931 06/27/2025 Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy. Title Evidence: Commitment         Reviewer Comment (2025-07-23): Final title received
 07/23/2025     1 A A A A A A A A A A xx FL Investment Purchase   C A C A     A A   N/A No
12025042409 XX XX XX   34473659 12025042409-3831 06/27/2025 Credit Credit Miscellaneous Guideline Credit Exception:   There are 3 liens showing on title and only 1 was reported as paid on the final closing statement. Provide verification that liens are satisfied and will not impact future title.       Reviewer Comment (2025-07-23): Clear final title received


Buyer Comment (2025-07-23): Final Title Policy
 07/23/2025     1 C A C A C A C A C A xx FL Investment Purchase   C A C A     A A   N/A No
12025030471 XX XX XX   34473680 12025030471-25749 06/27/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2025-07-17): Received


Buyer Comment (2025-07-15): Please see attached Final SS


Reviewer Comment (2025-07-09): Both closing statements in the file are estimates.


Buyer Comment (2025-07-07): Please find attached final HUD-1. Thank you.
 07/17/2025     1 C A C A C A C A C A xx CA Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025051840 XX XX XX   34473686 12025051840-5389 06/30/2025 Credit Loan Package Documentation Closing / Title Loan Package Documentation Missing Document: Final Loan Agreement not provided   Final signature page missing from Loan Agreement.       Reviewer Comment (2025-07-14): Received


Buyer Comment (2025-07-10): see attached all pages
 07/14/2025     1 C A C A C A C A C A xx GA Investment Purchase   C A C A     A A   N/A No
12025060467 XX XX XX   34473688 12025060467-25749 06/30/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Closing Statement.       Reviewer Comment (2025-07-23): Received


Buyer Comment (2025-07-21): HUD-1 attached. Thank you.
 07/23/2025     1 C A C A C A C A C A xx AZ Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025051292 XX XX XX   34473690 12025051292-30930 06/30/2025 Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of $XX is less than the note amount of $XX based on the Commitment in file. The Title Policy Amount of $XXis less than the note amount of $XX based on the Commitment in file.       Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): title
 07/02/2025     1 B A B A B A B A B A xx GA Investment Refinance - Rate/Term   D A D A     A A   N/A No
12025051292 XX XX XX   34473691 12025051292-2919 06/30/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   File is missing primary rental verification from November 2024 to current.       Reviewer Comment (2025-07-14): LOE and proof of full rental payments received.


Buyer Comment (2025-07-10): The complete rent payment per the lease is $9150.  The loe was just stating the Borrower pays $1850 of his portion. HIs roommates send him the money to pay the total every month of $9150


Reviewer Comment (2025-07-09): Multiple xx payments sent to xx. Which ones are for the rent. The lease reflects 1850.00 per month.


Buyer Comment (2025-07-07): xx shows xx payments to xx that total $9150- the full rent


Reviewer Comment (2025-07-02): Unable to confirm rent payment's of $1850.00 being withdrawn from the accounts listed.


Buyer Comment (2025-07-01): xx rent payments, xx operating agreement
 07/14/2025     1 C A C A C A C A D A xx GA Investment Refinance - Rate/Term   D A D A     A A   N/A No
12025051292 XX XX XX   34473692 12025051292-4513 06/30/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided           Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): Article of organization
 07/02/2025     1 C A C A C A C A C A xx GA Investment Refinance - Rate/Term   D A D A     A A   N/A No
12025051014 XX XX XX   34473694 12025051014-7919 06/30/2025 Credit Insurance Insurance Documentation Insurance Insurance Policy Expiration Date is less than 30 days of the Note Date and does not have automatic renewal.   Master insurance policy expires 07/XX/2025.       Reviewer Comment (2025-07-21): Renewal master policy received


Buyer Comment (2025-07-17): Ins
 07/21/2025     1 C A C A C A C A C A xx FL Investment Purchase   C A C A     A A   N/A No
12025052434 XX XX XX   34473697 12025052434-23698 07/01/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX The file contains the Alerts Summary only. The full fraud report is required.       Reviewer Comment (2025-07-07): Clear


Buyer Comment (2025-07-02): Fraud
 07/07/2025     1 C A C A C A C A C A xx NC Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025052434 XX XX XX   34473699 12025052434-2924 07/01/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   The file contains the Alerts Summary only. The full fraud report is required.       Reviewer Comment (2025-07-07): Clear


Buyer Comment (2025-07-02): see attached Fraud
 07/07/2025     1 C A C A C A C A C A xx NC Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025052434 XX XX XX   34473700 12025052434-27657 07/01/2025 Credit Missing Document General Missing Document Missing Document: Account Statements - Personal not provided   The guidelines require a complete copy of the asset statements. The file contains three consolidated statements in which only the balance page was provided. The full statements are required. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Reserves: 88.62
Guideline Requirement: 2.00		 SitusAMC Reviewer Comment (2025-07-31): Waived with compensating factors at clients request.


Buyer Comment (2025-07-29): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-17): Received for account ending in xx.  Still need for accounts ending in xx


Buyer Comment (2025-07-15): April - June quarterly statement


Buyer Comment (2025-07-15): Jan- March Quarterly statement
     07/31/2025 2 C B C B C B C B C B xx NC Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025052434 XX XX XX   34473701 12025052434-27012 07/01/2025 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of 0.74 does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) 1.00. The Lender used asset utilization income to qualify the loan. The file is missing the asset utilization worksheet, which is required.       Reviewer Comment (2025-07-07): clear


Buyer Comment (2025-07-02): DSCR Calc
 07/07/2025     1 C A C A C A C A C A xx NC Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025032203 XX XX XX   34473714 12025032203-25749 07/02/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   The File Contains an estimated closing statement only. The Final Executed HUD is Required.       Reviewer Comment (2025-07-10): Received final closing statement


Buyer Comment (2025-07-08): Final SS
 07/10/2025     1 C A C A C A C A C A xx WA Investment Purchase   C A C A     A A   N/A No
12025032203 XX XX XX   34473715 12025032203-4061 07/02/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Non-Owner Occupancy Declaration not provided   Section 4A of the Certification of Non-Owner Occupancy was not completed.       Reviewer Comment (2025-07-10): Received


Buyer Comment (2025-07-08): Non-owner
 07/10/2025     1 C A C A C A C A C A xx WA Investment Purchase   C A C A     A A   N/A No
12025032203 XX XX XX   34473716 12025032203-23933 07/02/2025 Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   Preliminary title is missing. File only contains a supplement to the title. Final Title Policy was not provided.       Reviewer Comment (2025-07-14): Title commitment received in trailing docs.


Buyer Comment (2025-07-10): Title supplement is dated 04/XX/25.  The Effective Date of February xx, 2025 is hereby amended to be: April xx, 2025 at 08:00 AM reported on supplement


Reviewer Comment (2025-07-10): Commitment uploaded is dated 2/XX/2025.  Please provide title commitment dated 4/XX/2025, as referenced in the second supplement originally uploaded to file.


Buyer Comment (2025-07-08): Pre-lim title
 07/14/2025     1 C A C A C A C A C A xx WA Investment Purchase   C A C A     A A   N/A No
12025060575 XX XX XX   34473730 12025060575-5404 07/03/2025 Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: Borrower: XXAccount Statements Asset Depletion is considered in qualification; however, asset accounts are not identified.       Reviewer Comment (2025-07-10): Received asset depletion worksheet


Buyer Comment (2025-07-08): DSCR Calc
 07/10/2025     1 C A C A C A C A C A xx TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040972 XX XX XX   34473739 12025040972-4513 07/08/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   Articles of Organization/Formation missing in the file. Required for both entities.       Reviewer Comment (2025-07-21): Received


Buyer Comment (2025-07-17): Please see attached ARTICLES OF ORGANIZATION - xx


Buyer Comment (2025-07-17): Please see attached ARTICLES OF ORGANIZATION - xx
 07/21/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025040972 XX XX XX   34473740 12025040972-4507 07/08/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Certificate of Good Standing  missing in file. Required for both entities.       Reviewer Comment (2025-07-21): Received


Buyer Comment (2025-07-17): CERT OF GOOD STANDING - xx


Buyer Comment (2025-07-17): CERT OF GOOD STANDING - UPDATE - xx


Buyer Comment (2025-07-17): Please see attached Certificate of Good Standing - xx


Buyer Comment (2025-07-17): Please see attached Certificate of Good Standing - xx
 07/21/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025040972 XX XX XX   34473741 12025040972-4062 07/08/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   Corporate Resolution missing in the file.       Reviewer Comment (2025-07-21): Received


Buyer Comment (2025-07-17): Please attached Resolution - xx


Buyer Comment (2025-07-17): Please attached Resolution - xx
 07/21/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025040972 XX XX XX   34473742 12025040972-25749 07/08/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Final HUD/CD is missing in the file.       Reviewer Comment (2025-07-21): Received


Buyer Comment (2025-07-17): Please see attached Final SS
 07/21/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025040972 XX XX XX   34473743 12025040972-5380 07/08/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Operating Agreement agreement is not provided in the file. Required for both entities.       Reviewer Comment (2025-07-21): Received


Buyer Comment (2025-07-17): Please see attached Operating Agreement - xx


Buyer Comment (2025-07-17): Please see attached Operating Agreement - xx
 07/21/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025040972 XX XX XX   34473745 12025040972-32065 07/08/2025 Credit Title Document Error Title The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.           Reviewer Comment (2025-07-21): Final title policy received


Buyer Comment (2025-07-17): Please see attached Final Title Policy


Buyer Comment (2025-07-17): See title doc's attached. Thank you.
 07/21/2025     1 B A B A B A B A B A xx CA Investment Purchase   C A C A     A A   N/A No
12025040972 XX XX XX   34473746 12025040972-23931 07/08/2025 Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy. Title Evidence: Preliminary         Reviewer Comment (2025-07-21): Final title policy received
 07/21/2025     1 A A A A A A A A A A xx CA Investment Purchase   C A C A     A A   N/A No
12025052348 XX XX XX   34473755 12025052348-23387 07/08/2025 Credit System General System Flood Certificate Subject Address does not match Note address.   Provided flood certificate shows property address as #xx which is not provided in Note.       Reviewer Comment (2025-07-11): Received corrected flood certificate


Buyer Comment (2025-07-09): Flood cert
 07/11/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025052348 XX XX XX   34473756 12025052348-23383 07/08/2025 Credit Insurance Insurance Analysis Insurance Insurance address does not match Note address.   Provided hazard insurance shows property address as XX which is not provided in Note.       Reviewer Comment (2025-07-25): clear


Buyer Comment (2025-07-23): Please see attached updated HOI
 07/25/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025052451 XX XX XX   34473758 12025052451-3831 07/08/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Borrower resides rent free with someone other than the spouse. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Reserves: 30.54
Guideline Requirement: 2.00		 Originator Pre-Close,SitusAMC Reviewer Comment (2025-07-15): Waived with compensating factors per lender exception approved at origination.


Buyer Comment (2025-07-11): exception
     07/15/2025 2 C B C B C B C B C B xx IL Investment Purchase   C B C B     A A   N/A No
12025051368 XX XX XX   34473762 12025051368-27835 07/09/2025 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2 Note Date:  06/XX/2025; Lien Position: 1 Investor to provide appropriate secondary valuation tool.       Reviewer Comment (2025-07-14): CDA received


Buyer Comment (2025-07-10): CDA
 07/14/2025     1 D A D A D A D A D A xx GA Investment Refinance - Limited Cash-out GSE   D A A A     D A   N/A No
12025052501 XX XX XX   34473764 12025052501-27012 07/09/2025 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy. Calculated Debt Service Coverage Ratio (Subject DSCR) of 0.72 does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) 1.00. The Debt Service Coverage Ratio is .72, under the guideline requirement.       Reviewer Comment (2025-07-17): Asset depletion worksheet and 3 months' statements received for all accounts used, resulting in DSCR over 1.00.


Buyer Comment (2025-07-15): May


Buyer Comment (2025-07-15): April


Buyer Comment (2025-07-15): D0223,


Reviewer Comment (2025-07-14): DSCR worksheet reflects an account listed as #A14 used in asset depletion; however, this account is not provided in file.  Please provide 3 months' statements for this account to determine its usability towards asset depletion to recalculate DSCR.


Buyer Comment (2025-07-10): DSCR Calc
 07/17/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025040823 XX XX XX   34473789 12025040823-4061 07/11/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Non-Owner Occupancy Declaration not provided   Section 4A of the Certification of Non-Owner Occupancy was not completed.       Reviewer Comment (2025-07-18): Received fully completed NOO in trailing docs.


Buyer Comment (2025-07-16): Please see attached
 07/18/2025     1 C A C A C A C A C A xx NY Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025052687 XX XX XX   34473793 12025052687-28636 07/11/2025 Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   Evidence of Access to Funds is missing.       Reviewer Comment (2025-07-21): Assets not required to meet reserve/closing requirements.


Buyer Comment (2025-07-17): Borrower qualifies without using the xx business account.


Reviewer Comment (2025-07-16): xx business account.


Buyer Comment (2025-07-14): What account do you need access to funds?
 07/21/2025     1 C A C A C A C A C A xx CA Investment Purchase   D A D A     A A   N/A No
12025052687 XX XX XX   34473794 12025052687-23931 07/11/2025 Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy. Title Evidence: Preliminary         Reviewer Comment (2025-07-16): clear
 07/16/2025     1 A A A A A A A A A A xx CA Investment Purchase   D A D A     A A   N/A No
12025052687 XX XX XX   34473795 12025052687-32065 07/11/2025 Credit Title Document Error Title The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.   Proposed insured amount was not provided in the preliminary title policy. Final title should reflect at least Note amount.       Reviewer Comment (2025-07-16): clear


Buyer Comment (2025-07-15): Final
 07/16/2025     1 B A B A B A B A B A xx CA Investment Purchase   D A D A     A A   N/A No
12025052687 XX XX XX   34473796 12025052687-4747 07/11/2025 Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Provide a final HUD/Closing Statement that is signed by the borrower or stamped true and certified by settlement agent. Copy provided in file is an estimate.       Reviewer Comment (2025-07-16): clear


Buyer Comment (2025-07-14): final SS
 07/16/2025     1 D A D A D A D A D A xx CA Investment Purchase   D A D A     A A   N/A No
12025052830 XX XX XX   34473805 12025052830-5807 07/14/2025 Credit Credit Credit Documentation Credit Borrower does not own current residence and thus casts doubt on business purpose of loan.   Lender exception approved allowing borrower living rent free with brother. Letter of explanation from brother in file. Compensating factors: 1) borrower's credit score is at least 40 points > min 700; 2) Borrower's reserves are at least 6 months; 4 months > minimum 2 months. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 186.27
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 741		 Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC		 Reviewer Comment (2025-07-14): Waived with compensating factors per lender exception approval at origination.
     07/14/2025 2 B B B B B B B B B B xx WY Investment Purchase   B B B B     A A   N/A No
12025040748 XX XX XX   34473814 12025040748-6459 07/11/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX There are 2 high alerts that have not been addressed.       Reviewer Comment (2025-07-16): clear


Buyer Comment (2025-07-14): fraud summary
 07/16/2025     1 C A C A C A C A C A xx KS Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025052587 XX XX XX   34473822 12025052587-2799 07/15/2025 Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   Note is is missing the executed signature page.   Note in file is incomplete.       Reviewer Comment (2025-07-18): Fully executed Note received.


Buyer Comment (2025-07-16): PFA
 07/18/2025     1 D A D A D A D A D A xx NY Investment Purchase   D A D A     A A   N/A No
12025060266 XX XX XX   34473826 12025060266-6459 07/15/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-21): Alerts summary with all red flags addressed received.


Buyer Comment (2025-07-17): Please find final clear fraud guard attached. Thank you.
 07/21/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025051690 XX XX XX   34473833 12025051690-25749 07/16/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Final HUD/CD is not provided.       Reviewer Comment (2025-07-28): clear


Buyer Comment (2025-07-24): 07/24-Please see attached


Reviewer Comment (2025-07-24): HUD is required to be signed by borrower or stamped true and certified by title company.


Buyer Comment (2025-07-22): 07/22-Please see attached FSS
 07/28/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025052879 XX XX XX   34473852 12025052879-4513 07/17/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   Articles of organization/formation is missing in file.       Reviewer Comment (2025-07-28): Received


Buyer Comment (2025-07-28): business entity


Reviewer Comment (2025-07-22): Need full articles of organization - the one page document provided just indicates the company has been formed.


Buyer Comment (2025-07-18): attached is the articles of organization for xx
 07/28/2025     1 C A C A C A C A C A xx WA Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025050339 XX XX XX   34473860 12025050339-6459 07/18/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-30): cleared with Alert Summary.


Buyer Comment (2025-07-26): Fraud Uploaded
 07/30/2025     1 C A C A C A C A C A xx NY Investment Purchase   C A C A     A A   N/A No
12025060877 XX XX XX   34473862 12025060877-25749 07/18/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2025-07-23): Received


Buyer Comment (2025-07-23): PFA


Buyer Comment (2025-07-21): PFA
 07/23/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025052581 XX XX XX   34473871 12025052581-31588 07/21/2025 Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing. Hazard Insurance Policy Effective Date 07/XX/2025, Disbursement Date: 07/XX/2025 Hazard Insurance Policy Effective Date 07/XX/2025, Disbursement Date: 07/XX/2025. Require updated hazard policy in the file.       Reviewer Comment (2025-07-24): Per client, accepting HOI as effective date is same as disbursement date.
 07/24/2025     1 C A C A C A C A C A xx FL Investment Purchase   C A C A     A A   N/A No
12025020022 XX XX XX   34473978 12025020022-6582 03/17/2025 Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $360.00 exceeds tolerance of $140.00 plus 10% or $154.00.  Sufficient or excess cure was provided to the borrower at Closing. (0) Ten Percent Fee Tolerance exceeded. Total amount of $360.00 exceeds tolerance of $140.00 plus 10% or $154.00. Sufficient or excess cure was provided to the borrower at Closing.       Reviewer Comment (2025-03-13): Sufficient Cure Provided At Closing
   03/13/2025   1 A A A A A A A A A A xx CA Primary Refinance - Cash-out - Other Final CD evidences Cure A A A A A A A A Exempt from ATR Exempt from ATR No
12025020129 XX XX XX   34473995 12025020129-30831 04/14/2025 Credit Hazard Insurance Document Error Hazard Insurance Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.   Hazard Insurance policy did not disclose Lender or Servicer - including successors and assigns.       Reviewer Comment (2025-04-23): clear


Buyer Comment (2025-04-21): 04/21-Updated policy
 04/23/2025     1 C A C A C A C A C A xx TN Investment Refinance - Cash-out - Other   C A C A A A A A Exempt from ATR N/A No
12025020129 XX XX XX   34473996 12025020129-6516 04/14/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline AUS/Guideline Findings: All conditions were not met   The Security Instrument is missing the borrower's and notarized page.       Reviewer Comment (2025-04-17): clear


Buyer Comment (2025-04-15): 04/15-Deed of Trust
 04/17/2025     1 C A C A C A C A C A xx TN Investment Refinance - Cash-out - Other   C A C A A A A A Exempt from ATR N/A No
12025032614 XX XX XX   34474011 12025032614-6498 05/08/2025 Property Property - Appraisal Appraisal Reconciliation Property - Appraisal Appraisal is required to be in name of Lender Valuation Type: Appraisal / Valuation Report Date: 04/XX/2025 Lender name on appraisal is  XX  Please provide an updated appraisal to disclose XX.  Also, Lender approved exception for complete appraisal by an appraisal management company.       Reviewer Comment (2025-05-20): clear


Buyer Comment (2025-05-16): appraisal


Reviewer Comment (2025-05-16): The 04/XX/2025 appraisal will also need updated.


Buyer Comment (2025-05-15): appraisal


Reviewer Comment (2025-05-13): None of the appraisal reflect Champions. They all reflect xx with no "S" at the end of Champion.


Buyer Comment (2025-05-12): The Appraisal signed by Appraiser 4/18 is in xxC name (see cover sheet of Appraisal).
 05/20/2025     1 B A B A B A B A B A xx FL Investment Refinance - Rate/Term   C A C A A A B A Exempt from ATR N/A No
12025032614 XX XX XX   34474012 12025032614-29639 05/08/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   The file is missing the verification of employment within 20 business days of Note.       Reviewer Comment (2025-05-16): clear


Buyer Comment (2025-05-14): CPA letter
 05/16/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A A A B A Exempt from ATR N/A No
12025050236 XX XX XX   34474075 12025050236-29618 06/13/2025 Credit Credit Credit Documentation Guideline The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.     Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 DTI: 19.53351%
Guideline Maximum DTI: 45.00000%

Guidelines Representative FICO: 680
Representative FICO: 765		 SitusAMC

SitusAMC

SitusAMC

SitusAMC

SitusAMC

Originator,SitusAMC

Originator,SitusAMC		 Reviewer Comment (2025-07-23): Waived with compensating factors per lender exception approval received in trailing docs.


Buyer Comment (2025-07-22): Please find exception attached. Thank you.


Reviewer Comment (2025-07-16): Reviewed statements received and the following months are still missing and required based on Note date of 6/XX/2025:  9/2024, 12/2024, 2/2025 and 5/2025.  The internal notes appear to indicate that a 5/2024 payment was verified; however, we would require history from 6/2024 through 5/2025 to determine most recent 12 month history.


Buyer Comment (2025-07-14): See breakdown of rental payments attached. Thank you.


Reviewer Comment (2025-07-07): Unable to confirm 12 months of housing history. Provided document numbers and amounts.


Buyer Comment (2025-07-02): Pleas find the remaining (4) mths confirmation of rental payments. Thank you.


Buyer Comment (2025-07-02): Please find attached (8) mths confirmation of rental payments. Thank you.
     07/23/2025 2 C B C B C B C B C B xx TX Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025051307 XX XX XX   34474078 12025051307-6583 06/23/2025 Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $1,045.00 exceeds tolerance of $850.00.  Sufficient or excess cure was provided to the borrower at Closing. (7506) The Appraisal Fee disclosed on the final Closing Disclosure (CD) is $1,045.00, which exceeds the originally disclosed amount of $850.00 on the Loan Estimate (LE), resulting in a tolerance violation.       Reviewer Comment (2025-06-18): Sufficient Cure Provided At Closing
   06/18/2025   1 A A A A A A A A A A xx AZ Second Home Purchase Final CD evidences Cure C B C A A B A A Exempt from ATR Exempt from ATR No
12025051307 XX XX XX   34474079 12025051307-6459 06/23/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): Fraud summary


Reviewer Comment (2025-06-26): There are 3 Red Flags that were not addressed.


Buyer Comment (2025-06-24):  fraud report has all high/medium alerts cleared; Unable to clear Fraud score risk condition on any fraud report.
 06/30/2025     1 C A C A C A C A C A xx AZ Second Home Purchase   C B C A A B A A Exempt from ATR Exempt from ATR No
12025051307 XX XX XX   34474080 12025051307-6572 06/30/2025 Compliance Compliance Federal Compliance ECOA ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. (Type:Primary/XX/09/2025)         Buyer Comment (2025-07-24): Please waive condition.


Reviewer Comment (2025-07-11): Both notices received are dated after consummation of the loan.  Evidence appraisal received at least 3 business days prior to consummation would be required for review of this condition.  Alternatively, this is an EV2 that client can elect to waive.


Buyer Comment (2025-07-09): See attached
     07/24/2025 2   B   B   B   B   B xx AZ Second Home Purchase   C B C A A B A A Exempt from ATR Exempt from ATR No
12025041859 XX XX XX   34474097 12025041859-4264 06/25/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of 5.89 is less than Guideline PITIA months reserves of 6.00.   The representative FICO score exceeds the guideline minimum by at least 40 points.

Borrower has verified disposable income of at least $2500.00.		 Guidelines Representative FICO: 700
Representative FICO: 804

Documentation Type: 12mo Bank Statement
Disposable Income: $17,612.00		 Originator,SitusAMC

Originator,SitusAMC		 Reviewer Comment (2025-07-02): Waived with compensating factors per lender exception approval.


Buyer Comment (2025-06-30): exception
     07/02/2025 2 C B C B C B C B C B xx NY Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025041859 XX XX XX   34474098 12025041859-29640 06/25/2025 Credit Asset Asset Documentation Asset Asset documentation requirements not met.   Insufficient reserves provided.Calculated PITIA months reserves of 5.89 is less than Guideline PITIA months reserves of 6.00. Borrower has verified disposable income of at least $2500.00.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: 12mo Bank Statement
Disposable Income: $17,612.00

Guidelines Representative FICO: 700
Representative FICO: 804		 Originator,SitusAMC

Originator,SitusAMC		 Reviewer Comment (2025-07-02): Waived with compensating factors per lender exception approval.


Buyer Comment (2025-06-30): see attached exception
     07/02/2025 2 C B C B C B C B C B xx NY Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025032710 XX XX XX   34474100 12025032710-33586 06/30/2025 Credit Loan Package Documentation Closing / Title Loan Package Documentation Title search shows negative impact on title.   Title search shows negative impact on title. 2 judgments reported on title.       Reviewer Comment (2025-07-02): Clear


Buyer Comment (2025-07-01): #9 satisfaction of release


Buyer Comment (2025-07-01): #8 release of judgement
 07/02/2025     1 C A C A C A C A C A xx CA Primary Refinance - Cash-out - Other   C A C A A A A A Exempt from ATR Exempt from ATR No
12025050793 XX XX XX   34474105 12025050793-3883 07/03/2025 Compliance Compliance Federal Compliance Missing Disclosure Notice of Special Flood Hazard Disclosure Not Provided Timely FDPA Notification Rule: Creditor did not provide a Notice of Special Flood Hazard Disclosure within a reasonable time prior to closing. Creditor did not provide a Notice of Special Flood Hazard Disclosure within a reasonable time prior to closing.       Buyer Comment (2025-07-15): We accept a EV2 grade. Please waive to grade B.
     07/15/2025 2 B B B B B B B B B B xx TX Primary Refinance - Cash-out - Other   C B A A C B A A Exempt from ATR Exempt from ATR No
12025050793 XX XX XX   34474107 12025050793-6336 07/03/2025 Compliance Compliance State Compliance Misc. State Level (TX50(a)(6)) Texas Cash-out Loan (T-42 Endorsement Not Obtained) Texas Constitution Section 50(a)(6): Acceptable FNMA title insurance endorsements not obtained for home equity loan.  The loan file does not evidence the Title Policy includes the Texas T-42 endorsement or the T-42.1 endorsement. (The loan is a Texas Section 50 (a)(6) home equity loan.) Acceptable FNMA title insurance endorsements not obtained for home equity loan. The loan file does not evidence the Title Policy includes the Texas T-42 endorsement or the T-42.1 endorsement. (The loan is a Texas Section 50 (a)(6) home equity loan.)       Reviewer Comment (2025-07-18): Received final title policy reflecting both T42 and T42.1 endorsements.


Buyer Comment (2025-07-16): Please see attached final title policy. Page 9 reflects the endorsements
 07/18/2025     1 B A B A B A B A B A xx TX Primary Refinance - Cash-out - Other The endorsements would be required at the time of original title policy issuance, there is not an obvious remediation C B A A C B A A Exempt from ATR Exempt from ATR No
12025050793 XX XX XX   34474109 12025050793-34957 07/03/2025 Compliance Compliance Federal Compliance TRID Defect TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $0.00 exceeds tolerance of $-1,500.00. Insufficient or no cure was provided to the borrower. (9300) Zero Percent Fee Tolerance exceeded for Lender Credits. Final Lender Credit of $0.00 exceeds tolerance of $-1,500.00. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-07-17): SitusAMC received COC dated 06/xx and CD dated 06/xx.


Buyer Comment (2025-07-16): Please see attached 6.11 Rate Lock


Buyer Comment (2025-07-16): Please see attached 6.12 COC and CD


Reviewer Comment (2025-07-16): SitusAMC received COC and rate lock dated 05/xx, however lender credit decreased to $0 on CD dated 06/XX/2025.  A valid Changed Circumstance for CD dated 06/xx or cure is required.  Cure documents consist of PCCD, LOE, proof of mailing & copy of refund check.


Buyer Comment (2025-07-15): Please see attached 5.27 Rate Lock


Buyer Comment (2025-07-15): Please see attached 05.27 COC and CD
 07/17/2025     1 C A C A C A C A C A xx TX Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Exempt from ATR Exempt from ATR No
12025050793 XX XX XX   34474110 12025050793-6543 07/03/2025 Compliance Compliance Federal Compliance TRID Defect TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $210.00 exceeds tolerance of $154.00 plus 10% or $169.40.  Insufficient or no cure was provided to the borrower. (0) Ten Percent Fee Tolerance exceeded. Total amount of $210.00 exceeds tolerance of $154.00 plus 10% or $169.40. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-07-16): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.”


Buyer Comment (2025-07-15): Please see attached Final CD. A $40.60 RESPA was applied to cover the 10% fee TRID violation
   07/16/2025   2 C B C B C B C B C B xx TX Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Exempt from ATR Exempt from ATR No
12025050793 XX XX XX   34474111 12025050793-23931 07/03/2025 Credit Legal / Regulatory / Compliance Title / Lien Defect Title Title Policy is Preliminary or Commitment, and not a Final Title Policy. Title Evidence: Commitment Title Final  Title policy is missing in loan file.       Reviewer Comment (2025-07-18): Final title received in trailing docs
 07/18/2025     1 A A A A A A A A A A xx TX Primary Refinance - Cash-out - Other   C B A A C B A A Exempt from ATR Exempt from ATR No
12025050793 XX XX XX   34474113 12025050793-6582 07/17/2025 Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $210.00 exceeds tolerance of $154.00 plus 10% or $169.40.  Sufficient or excess cure was provided to the borrower at Closing. (0)         Reviewer Comment (2025-07-17): Sufficient Cure Provided At Closing
   07/17/2025   1   A   A   A   A   A xx TX Primary Refinance - Cash-out - Other Final CD evidences Cure C B A A C B A A Exempt from ATR Exempt from ATR No
12025050793 XX XX XX   34474114 12025050793-6416 07/22/2025 Compliance Compliance State Compliance State Defect (TX50(a)(6)) Texas Cash-out Loan  (Acknowledgment of Fair Market Value Disclosure Not Signed by the Lender) Texas Constitution Section 50(a)(6): Acknowledgment of the Fair Market Value not properly executed by the Lender.         Reviewer Comment (2025-07-22): $1000 refund check, LOE to borrower with offer to refinance at no cost, and proof of mailing.
   07/22/2025   2   B   B   B   B   B xx TX Primary Refinance - Cash-out - Other To Remediate: the lender or holder may either: (1) Deliver to the borrower the required disclosure documents, (AFMV signed by the lender), and obtain an executed copy; OR (2) refund or credit the borrower $1,000 and offer the borrower the right to refinance the extension of credit for the remaining term of the loan at no cost to the borrower on the same terms, including interest, as the original extension of credit with any modifications necessary to comply with this section or on terms on which the borrower and the lender or holder otherwise agree. Letter of explanation and proof of delivery of cure documents required, and, if cured with refund or credit, copy of refund check or evidence of principal reduction also required. C B A A C B A A Exempt from ATR Exempt from ATR No
12025042005 XX XX XX   34474122 12025042005-6582 07/01/2025 Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $199.00 exceeds tolerance of $33.00 plus 10% or $36.30.  Sufficient or excess cure was provided to the borrower at Closing. (0) Ten Percent Fee Tolerance exceeded. Total amount of $199.00 exceeds tolerance of $33.00 plus 10% or $36.30.       Reviewer Comment (2025-06-24): Sufficient Cure Provided At Closing
   06/24/2025   1 A A A A A A A A A A xx TX Primary Refinance - Cash-out - Other Final CD evidences Cure C A C A A A A A Exempt from ATR Exempt from ATR No
12025042005 XX XX XX   34474123 12025042005-3831 07/01/2025 Credit Credit Miscellaneous Guideline Credit Exception:   2 months verification of receipt for the Social Security income is required and only 1 month was provided.       Reviewer Comment (2025-07-11): Received evidence of 2 months' receipt.


Buyer Comment (2025-07-09): May
 07/11/2025     1 C A C A C A C A C A xx TX Primary Refinance - Cash-out - Other   C A C A A A A A Exempt from ATR Exempt from ATR No
12025052077 XX XX XX   34474127 12025052077-5404 07/01/2025 Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: Borrower: XXThird Party Verification The file is missing third party verification of employment within 20 business days prior to the Note date. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: 12mo Bank Statement
Disposable Income: $48,518.56

Reserves: 9.35
Guideline Requirement: 3.00

DTI: 24.22755%
Guideline Maximum DTI: 50.00000%

Guidelines Representative FICO: 700
Representative FICO: 800		 SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-16): Waived with compensating factors at clients request.


Buyer Comment (2025-07-14): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-11): Document provided is dated 7/XX/2025, which is after Note date of 6/XX/2025.  Documentation dated on or before Note date is required for review of this condition.


Buyer Comment (2025-07-11): third party voe
     07/16/2025 2 C B C B C B C B C B xx TX Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025052077 XX XX XX   34474128 12025052077-29639 07/01/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   The file is missing third party verification of employment within 20 business days prior to the Note date. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: 12mo Bank Statement
Disposable Income: $48,518.56

Reserves: 9.35
Guideline Requirement: 3.00

DTI: 24.22755%
Guideline Maximum DTI: 50.00000%

Guidelines Representative FICO: 700
Representative FICO: 800		 SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-16): Waived with compensating factors at clients request.


Buyer Comment (2025-07-14): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-11): Document provided is dated 7/XX/2025, which is after Note date of 6/XX/2025.  Documentation dated on or before Note date is required for review of this condition.


Buyer Comment (2025-07-11): see attached VVOE
     07/16/2025 2 C B C B C B C B C B xx TX Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025052077 XX XX XX   34474129 12025052077-4264 07/01/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of 2.34 is less than Guideline PITIA months reserves of 3.00.         Reviewer Comment (2025-07-14): Received evidence of ownership to business named on account, resulting in sufficient reserves.


Reviewer Comment (2025-07-11): This condition is in relation to assets, not ownership of the business entity.


Buyer Comment (2025-07-09): Cert of formation


Buyer Comment (2025-07-09): Shares Cert
 07/14/2025     1 C A C A C A C A C A xx TX Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025052077 XX XX XX   34474130 12025052077-3831 07/01/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide OFAC for the borrowing entity.       Reviewer Comment (2025-07-11): OFAC received


Buyer Comment (2025-07-09): Fraud report
 07/11/2025     1 C A C A C A C A C A xx TX Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025052077 XX XX XX   34474131 12025052077-28636 07/01/2025 Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   Missing access verification for XX assets.       Reviewer Comment (2025-07-15): Received evidence of access to funds.


Reviewer Comment (2025-07-11): Documentation provided does not indicate xx owns at least 25% of entity.  It reflects two individuals as owner/director.  Need evidence of ownership percent to consider funds.


Buyer Comment (2025-07-09): see attached docs
 07/15/2025     1 C A C A C A C A C A xx TX Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025052077 XX XX XX   34474132 12025052077-3831 07/01/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide a third-party verification that the business is in existence and in good standing is required for XX Must provide ownership percentage. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: 12mo Bank Statement
Disposable Income: $48,518.56

Reserves: 9.35
Guideline Requirement: 3.00

DTI: 24.22755%
Guideline Maximum DTI: 50.00000%

Guidelines Representative FICO: 700
Representative FICO: 800		 SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-16): Waived with compensating factors at clients request.


Buyer Comment (2025-07-14): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-11): Document provided is dated 7/XX/2025, which is after Note date of 6/XX/2025.  Documentation dated on or before Note date is required for review of this condition.


Buyer Comment (2025-07-09): see attached docs
     07/16/2025 2 C B C B C B C B C B xx TX Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025052077 XX XX XX   34474133 12025052077-3862 07/16/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date. Disaster Name: SEVERE STORMS, STRAIGHT-LINE WINDS, AND FLOODING
Disaster Declaration Date: 07/XX/2025		         Reviewer Comment (2025-07-23): PDI received dated post-disaster declaration reflecting no damage.


Buyer Comment (2025-07-21): Disaster Cert - no damage
 07/23/2025     1   A   A   A   A   A xx TX Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025052837 XX XX XX   34474145 12025052837-2798 07/03/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Missing Final 1003   File is missing final signed and dated 1003.       Reviewer Comment (2025-07-16): clear


Buyer Comment (2025-07-14): Final 1003
 07/16/2025     1 C A C A C A C A C A xx CA Primary Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
12025040899 XX XX XX   34474156 12025040899-29639 07/07/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   The file is missing verification of employment within 20 business days prior to the Note date. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has verified disposable income of at least $2500.00.		 DTI: 16.54613%
Guideline Maximum DTI: 50.00000%

Reserves: 339.98
Guideline Requirement: 3.00

Documentation Type: 12mo Bank Statement
Disposable Income: $368,969.30		 SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-16): Waived with compensating factors at clients request.


Buyer Comment (2025-07-14): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-14): CPA letter provided is dated 7/XX/2025, which is post-Note date of 6/XX/2025.  Documentation dated on or prior to consummation required for review of this.


Buyer Comment (2025-07-10): CPA letter
     07/16/2025 2 C B C B C B C B C B xx FL Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025040899 XX XX XX   34474158 12025040899-5404 07/07/2025 Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: Borrower: XXThird Party Verification The file is missing verification of employment within 20 business days prior to the Note date.  Also, the file is missing REO documents for properties on XX Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		 Documentation Type: 12mo Bank Statement
Disposable Income: $368,969.30

Reserves: 339.98
Guideline Requirement: 3.00

DTI: 16.54613%
Guideline Maximum DTI: 50.00000%		 SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-16): Waived with compensating factors at clients request.


Buyer Comment (2025-07-14): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-14): CPA letter provided is dated 7/XX/2025, which is post-Note date of 6/XX/2025.  Documentation dated on or prior to consummation required for review of this.


Buyer Comment (2025-07-10): see attached CPA leter
     07/16/2025 2 C B C B C B C B C B xx FL Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025040899 XX XX XX   34474159 12025040899-25838 07/07/2025 Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. Address: XX Insurance Verification The file is missing REO documents for properties on XX       Reviewer Comment (2025-07-21): Received all REO documents


Reviewer Comment (2025-07-21): EXCEPTION HISTORY - Exception Explanation was updated on 07/XX/2025 PRIOR Exception Explanation: Insurance Verification, Statement, Tax Verification


Buyer Comment (2025-07-17): Ins dated 06/XX/25


Reviewer Comment (2025-07-16): Insurance verification for 1220 is dated post closing and cannot be used.


Buyer Comment (2025-07-14): xxtax


Buyer Comment (2025-07-14): Ins xx


Buyer Comment (2025-07-14): VOM


Reviewer Comment (2025-07-14): EXCEPTION HISTORY - Exception Detail was updated on 07/XX/2025 PRIOR Exception Detail: xx
EXCEPTION HISTORY - Exception Explanation was updated on 07/XX/2025 PRIOR Exception Explanation: Insurance Verification, Statement, Tax Verification
Insurance Verification, Statement, Tax Verification


Reviewer Comment (2025-07-10): Unable to determine the PITIA for the xx using the 1008.

xxt is cleared.


Buyer Comment (2025-07-08): xx has not closed yet; 1008 was provided.


Buyer Comment (2025-07-08): xx


Buyer Comment (2025-07-08): xx First payment letter
 07/21/2025     1 C A C A C A C A C A xx FL Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025041463 XX XX XX   34474167 12025041463-23698 07/08/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX No evidence of fraud report in file.       Reviewer Comment (2025-07-28): clear


Buyer Comment (2025-07-24): Please find initial fraud attached. Thank you.


Buyer Comment (2025-07-24): Please find final Fraud attached. Thank you.
 07/28/2025     1 C A C A C A C A C A xx IL Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025041463 XX XX XX   34474169 12025041463-3831 07/08/2025 Credit Credit Miscellaneous Guideline Credit Exception:   When rent is paid to a private party/landlord, a copy of the lease and 12 months of cancelled checks (front and back) or bank statement are required for verification of timely payments. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly mortgage payment has decreased by at least 20%.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: Asset Depletion
Disposable Income: $5,815.79

Prior Housing Expense: $4,750.00
Proposed Housing Expense: $3,714.72

Guidelines Representative FICO: 680
Representative FICO: 752		 SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-28): Waived with compensating factors per lender exception approval.


Buyer Comment (2025-07-24): Please find exception attached. Thank you.
     07/28/2025 2 C B C B C B C B C B xx IL Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
32025050620 XX XX XX   34474193 32025050620-30168 07/08/2025 Compliance Compliance Federal Compliance TRID Defect TRID Interim Closing Disclosure Timing Test TILA-RESPA Integrated Disclosure – Corrected Closing Disclosure provided on or after 05/XX/2025 contains a change in APR and a complete Closing Disclosure was not received by borrower at least three (3) business days prior to consummation The Closing Disclosure dated 05/XX/2025 is incomplete on page 5 resulting in the timing test requirement for a corrected Closing Disclosure. There is no documentation in the file to verify that this Closing Disclosure was not provided to the borrower.       Reviewer Comment (2025-07-11): SitusAMC received lender attestation that 5-xx-25 CD was title company generated not provided to borrower and reflects blank APR and no change in APR


Buyer Comment (2025-07-10): All borrower facing documents have xx in the footer. The Closing Disclosure in question is not a xx document, indicating that it was provided to the lender by the title company to generate the borrower facing Closing Disclosure.
 07/11/2025     1 C A C A C A C A C A xx FL Primary Purchase TRID timing exception, no remediation available. C A A A C A A A Non QM Non QM No
32025050620 XX XX XX   34474194 32025050620-27765 07/08/2025 Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $2,520.00 exceeds tolerance of $2,338.00.  Sufficient or excess cure was provided to the borrower. (8304)         Reviewer Comment (2025-06-27): Sufficient Cure Provided within 60 Days of Closing
   06/27/2025   1 A A A A A A A A A A xx FL Primary Purchase Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35) C A A A C A A A Non QM Non QM No
12025051223 XX XX XX   34474197 12025051223-25838 07/08/2025 Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. Address: XX Address: XX Address: XX Statement
Statement
Statement
Statement		 The file is missing the mortgage PITIA verification for all four investment properties.       Reviewer Comment (2025-07-11): Received evidence of PITIA payments on all REOs.


Buyer Comment (2025-07-09): XX


Buyer Comment (2025-07-09): 1XX - Loan has not closed yet


Buyer Comment (2025-07-09): XX


Buyer Comment (2025-07-09): 1xx
 07/11/2025     1 C A C A C A C A C A xx FL Investment Purchase   C A C A A A A A Exempt from ATR N/A No
12025051223 XX XX XX   34474198 12025051223-29639 07/08/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   The file is missing documentation to verify the mortgage payments for four of the investment properties.       Reviewer Comment (2025-07-11): Received evidence of PITIA payments on all REOs.


Buyer Comment (2025-07-09): see attached docs
 07/11/2025     1 C A C A C A C A C A xx FL Investment Purchase   C A C A A A A A Exempt from ATR N/A No
12025050122 XX XX XX   34474201 12025050122-6459 07/10/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-15): Received alerts summary reflecting all red flags addressed/cleared.


Buyer Comment (2025-07-11): fraud
 07/15/2025     1 C A C A C A C A C A xx WI Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025050122 XX XX XX   34474202 12025050122-29639 07/10/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   The guidelines require the borrower to be self-employed for at least 2 years. Documentation verifies the borrower has been self-employed since 11/2023 which is less than 2 years from the closing of 06/2025. Lender approved exception at origination to allow the borrower to be in business less than 2 years.  Compensating Factors noted: 1) Borrower has at least 7 months reserves; 4 months > min 3  2) LTV is at least 10 percentage points < max 70%  3) Residual income > $3000  4) Borrower's non-borrowing spouse, who is a 50% owner of the business, has worked in the xx industry for many years  5) Nine years of clean mortgage pay history - pending sale on the property associated with this mortgage; will use proceeds toward purchase. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least 10%.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.		 Documentation Type: 12mo Bank Statement
Disposable Income: $4,003.43

Reserves: 12.07
Guideline Requirement: 3.00

Combined Loan to Value: 59.74026%
Guideline Maximum Combined Loan to Value: 70.00000%

Loan to Value: 59.74026%
Guideline Maximum Loan to Value: 70.00000%		 Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC		 Reviewer Comment (2025-07-09): Waived with compensating factors per lender exception approval at origination.
     07/09/2025 2 B B B B B B B B B B xx WI Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025050445 XX XX XX   34474229 12025050445-26033 07/14/2025 Compliance Compliance Federal Compliance TRID Defect TRID Initial Loan Estimate Timing Electronically Provided TILA-RESPA Integrated Disclosure: Loan Estimate not delivered to Borrower(s) within three (3) business days of application. Initial Loan Estimate dated 05/XX/2025 was electronically provided without or prior to borrower's consent to receive electronic disclosures. Failure to comply with the provisions of the E-Sign Act and failure to provide good faith estimate of fees timely may result in additional fee tolerance violations. (Initial/XX/07/2025)         Reviewer Comment (2025-07-16): SitusAMC received e-consent dated 05/08/2025


Buyer Comment (2025-07-15): PFA as requested
 07/16/2025     1 C A C A C A C A C A xx AZ Second Home Purchase   C B A A C B A A Exempt from ATR Exempt from ATR No
12025050445 XX XX XX   34474232 12025050445-6543 07/14/2025 Compliance Compliance Federal Compliance TRID Defect TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $1,991.50 exceeds tolerance of $1,767.00 plus 10% or $1,943.70.  Insufficient or no cure was provided to the borrower. (0) A valid COC was not provided.       Reviewer Comment (2025-08-04): SItusAMC received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD.


Buyer Comment (2025-08-01): PFA


Reviewer Comment (2025-07-23): SitusAMC Received rebuttal; however, Title Wire fee cannot be considered under 10% tolerance as fee is not charged on Final CD. Provide Valid COC for increased title fee or provide Cure Docs $47.80. Cure Consists of PCCD, LOE, Refund Check and Proof of Mailing.


Buyer Comment (2025-07-22): Initial Disclosures Total:
Title – Closing/Escrow Fee: $595
Title – Lender’s Title Insurance: $1112
Title - Wire Fee: $85

Recording Fees: $60
Total: $1852
10% Tolerance: $185.20
Total: $2037


Buyer Comment (2025-07-21): The baseline is considered as the initial LE.


Reviewer Comment (2025-07-16): SitusAMC received Changed Circumstance dated 06/XX/2025, but it does not give sufficient information on why the title fee was added.  In order to determine if the changed circumstance is valid more information is necessary on reason fee added and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure documents consist of PCCD, LOE, proof of mailing & copy of refund check.


Buyer Comment (2025-07-15): Please see D0170 CPL and Endorsement fees are added, and D0178 CD also provided with updated fees
   08/04/2025   2 C B C B C B C B C B xx AZ Second Home Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Exempt from ATR Exempt from ATR No
12025041778 XX XX XX   34474234 12025041778-5404 07/14/2025 Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: Borrower: XXThird Party Verification Provide documentation verifying the business existence. The document must be dated within 20 business days of the Note date. Borrower has verified disposable income of at least $2500.00.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: 12mo Bank Statement
Disposable Income: $16,291.08

Guidelines Representative FICO: 700
Representative FICO: 783		 SitusAMC

SitusAMC		 Reviewer Comment (2025-07-31): Waived with compensating factors at clients request.


Buyer Comment (2025-07-29): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-20): A VVOE is not third party verification of self-employment.  CPA letter, business entity listing, or other state third-party verification required for review of this condition.  Must be dated no more than 20 business days prior to Note date.


Buyer Comment (2025-07-17): VVOE
     07/31/2025 2 C B C B C B C B C B xx FL Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025041778 XX XX XX   34474235 12025041778-29639 07/14/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   Missing documentation verifying the business existence dated within 20 business days of the Note date. The representative FICO score exceeds the guideline minimum by at least 40 points.

Borrower has verified disposable income of at least $2500.00.		 Guidelines Representative FICO: 700
Representative FICO: 783

Documentation Type: 12mo Bank Statement
Disposable Income: $16,291.08		 SitusAMC

SitusAMC		 Reviewer Comment (2025-07-31): Waived with compensating factors at clients request.


Buyer Comment (2025-07-29): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-20): A VVOE is not third party verification of self-employment.  CPA letter, business entity listing, or other state third-party verification required for review of this condition.  Must be dated no more than 20 business days prior to Note date.


Buyer Comment (2025-07-17): see attached VVOE
     07/31/2025 2 C B C B C B C B C B xx FL Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025060184 XX XX XX   34474245 12025060184-25158 07/15/2025 Compliance Compliance Federal Compliance Missing Non-Required Data (Missing Data) Last Rate Set Date Last Date Rate Set and Initial Rate Lock Date not provided.  Worst Case Scenario between Creditor Application Date and Transaction Date used to determine rate used for testing. Rate lock document was not provided.       Reviewer Comment (2025-07-18): Received


Buyer Comment (2025-07-16): Please find attached lock confirmation.
 07/18/2025     1 B A B A B A B A B A xx SC Primary Purchase   C B A A C B A A Exempt from ATR Exempt from ATR No
12025060184 XX XX XX   34474246 12025060184-6542 07/15/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $370.00 exceeds tolerance of $300.00.  Insufficient or no cure was provided to the borrower. (7520) No valid COC provided.       Reviewer Comment (2025-07-30): SitusAMC received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD.


Buyer Comment (2025-07-28): Please find attached PCCD, LOE, Check.

Thank You!!!


Reviewer Comment (2025-07-22): SitusAMC received invoice, however we require additional sufficient information on why the credit report fee increased as invoice only states credit verification/technology fee. Please provide additional sufficient information on why credit verification was required. A valid Changed Circumstance or cure is required.  Cure documents consist of PCCD, LOE, proof of mailing & copy of refund check.


Buyer Comment (2025-07-21): Please find the attached invoice detailing the reason for the credit report fee increase.


Reviewer Comment (2025-07-18): SitusAMC received Changed Circumstance dated 06/XX/2025, but it does not give sufficient information on why the Credit report fee was increased. In order to determine if the changed circumstance is valid more information is necessary on reason fee increase/added and when lender became aware of the change. A valid Changed Circumstance or cure is required. Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check.


Buyer Comment (2025-07-17): Please refer to document number D0317. The reason for the COC rate lock modification has already been provided. Thank You!!


Reviewer Comment (2025-07-17): SitusAMC received Changed Circumstance dated 06/XX/2025, but it does not give sufficient information on why the Credit report fee was increased. In order to determine if the changed circumstance is valid more information is necessary on reason fee increase/added and when lender became aware of the change. A valid Changed Circumstance or cure is required. Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check.


Buyer Comment (2025-07-16): Please find attached COC.
   07/30/2025   2 C B C B C B C B C B xx SC Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B A A C B A A Exempt from ATR Exempt from ATR No
12025052594 XX XX XX   34474289 12025052594-27835 07/15/2025 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2 Note Date:  06/XX/2025; Lien Position: 1 CU Score is more than 2.5 and secondary valuation is missing.       Reviewer Comment (2025-07-20): Received CDA


Buyer Comment (2025-07-17): CDA
 07/20/2025     1 D A D A D A D A D A xx CO Primary Refinance - Cash-out - Other   D A A A A A D A Exempt from ATR Exempt from ATR No
12025060965 XX XX XX   34474311 12025060965-4747 07/17/2025 Compliance Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Provide a final HUD/Closing Statement that is signed by the borrower or stamped true and certified by settlement agent. Copy provided in file is an estimate.       Reviewer Comment (2025-07-22): Final settlement statement received


Buyer Comment (2025-07-18): Please see attached Final SS
 07/22/2025     1 D A D A D A D A D A xx AZ Investment Purchase   D A C A D A A A Exempt from ATR N/A No
12025060965 XX XX XX   34474312 12025060965-6459 07/17/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-22): Alerts summary with all red flags addressed received in trailing docs.


Buyer Comment (2025-07-18): Clear final frau guard attached. Thank you.
 07/22/2025     1 C A C A C A C A C A xx AZ Investment Purchase   D A C A D A A A Exempt from ATR N/A No
12025060355 XX XX XX   34474326 12025060355-3831 07/18/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide a final HUD/Closing Statement that is signed by the borrower or stamped true and certified by settlement agent. Copy provided in file is an estimate.       Reviewer Comment (2025-07-23): Received final closing statement


Buyer Comment (2025-07-22): Please see attached Final SS
 07/23/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A A A A A Exempt from ATR N/A No
12025060642 XX XX XX   34474330 12025060642-6542 07/18/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $8,254.69 exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower. (7200) Loan Discount Points Fee Amount of $8,254.69 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower       Reviewer Comment (2025-07-22): SitusAMC received valid COC dated 06/13/2025


Buyer Comment (2025-07-21): PFA COC
 07/22/2025     1 C A C A C A C A C A xx FL Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Exempt from ATR Exempt from ATR No
12025060688 XX XX XX   34474350 12025060688-6459 07/21/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-24): clear


Buyer Comment (2025-07-22): PFA as requested
 07/24/2025     1 C A C A C A C A C A xx FL Primary Purchase   C A C A A A A A Exempt from ATR Exempt from ATR No
12025030310 XX XX XX   34474401 12025030310-3831 04/09/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception at origination to accept transferred appraisal without the use of an appraisal management company. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 660
Representative FICO: 736		 SitusAMC Reviewer Comment (2025-04-09): Waived with compensating factors per lender exception approval at origination.
     04/09/2025 2   B   B   B   B   B xx TN Investment Refinance - Cash-out - Other   A B A B     A A   N/A No
12025041448 XX XX XX   34474403 12025041448-3831 05/12/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender exception approved at origination for borrower living rent free with a parent. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 778		 Originator Pre-Close,SitusAMC Reviewer Comment (2025-05-12): Waived with compensating factors per lender exception approval at origination.
     05/12/2025 2 B B B B B B B B B B xx MD Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025041453 XX XX XX   34474406 12025041453-3831 05/16/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Guarantor does not have primary housing history.   Lives rent free with parent.  Lender exception in file.  Compensating factors:  FICO and DSCR. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 253.11
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 778		 SitusAMC

SitusAMC		 Reviewer Comment (2025-05-16): Waived with compensating factors per lender exception approval at origination.
     05/16/2025 2 B B B B B B B B B B xx MD Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025041419 XX XX XX   34474409 12025041419-3831 05/20/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender Exception request for borrower who lives rent free with a parent.
Compensating Factors
1. FICO 40+ points over the minimum required score for the LTV requested.
2. DSCR of 1.15 or higher.		 Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 278.59
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 778		 SitusAMC

SitusAMC		 Reviewer Comment (2025-05-19): Waived with compensating factors per lender exception approval at origination.
     05/19/2025 2 B B B B B B B B B B xx MD Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025040434 XX XX XX   34474411 12025040434-25749 05/22/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   HUD-1 is missing.       Reviewer Comment (2025-06-03): Cleared.


Buyer Comment (2025-06-02): Please find final HUD-1 attached. Thank you.
 06/03/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025041300 XX XX XX   34474414 12025041300-6459 05/22/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-05-30): clear


Buyer Comment (2025-05-28): Fraud
 05/30/2025     1 C A C A C A C A C A xx IL Investment Purchase   C A C A     A A   N/A No
12025031108 XX XX XX   34474420 12025031108-4211 06/04/2025 Credit Loan Package Documentation Closing / Title Title Title: Evidence of title is missing   The file only contains the Schedule A of the Title Commitment. The title report is required.       Reviewer Comment (2025-06-17): clear


Buyer Comment (2025-06-13): Title Policy attached


Reviewer Comment (2025-06-09): Received same document as in original file.  It is only page 1 of the title commitment.  Please provide complete title commitment for review.


Buyer Comment (2025-06-06): See attached showing coverage amount (this was included in the original upload of the file).
 06/17/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025031108 XX XX XX   34474421 12025031108-23933 06/04/2025 Credit Legal / Regulatory / Compliance Title / Lien Defect Legal / Regulatory / Compliance Final Title Policy is missing. No evidence of title in file.   The file only contains the Schedule A of the Title Commitment. The title report is required.       Reviewer Comment (2025-06-17): clear


Reviewer Comment (2025-06-09): Received same one page document as in original file.  Condition is asking for the complete/full title commitment for subject transaction as we only received page 1.


Buyer Comment (2025-06-06): see attached **was included in original upload of file for review**
 06/17/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050315 XX XX XX   34474423 12025050315-25749 06/05/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   Final HUD/CD and closing statement documents are missing in file.       Reviewer Comment (2025-06-11): clear


Buyer Comment (2025-06-09): Final
 06/11/2025     1 C A C A C A C A C A xx DE Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050315 XX XX XX   34474425 12025050315-5205 06/05/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   OFAC was not provided for the borrowing entity.       Reviewer Comment (2025-06-10): Received


Buyer Comment (2025-06-06): see attached fraud
 06/10/2025     1 C A C A C A C A C A xx DE Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050315 XX XX XX   34474426 12025050315-2924 06/05/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Full Fraud Report is required with OFAC for all parties. Red flags must be addressed.       Reviewer Comment (2025-06-10): Received


Buyer Comment (2025-06-06): Fraud
 06/10/2025     1 C A C A C A C A C A xx DE Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025051051 XX XX XX   34474454 12025051051-25749 06/13/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   File is missing final signed and dated HUD-1/Settlement Statement.       Reviewer Comment (2025-07-08): clear


Buyer Comment (2025-07-03): Please see attached Final SS
 07/08/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025041381 XX XX XX   34474462 12025041381-3831 06/13/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Mortgage is paid to private individual. 12 months of cancelled checks front and back or 12 months of bank statements are required to verify timely payments. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Seasoned Borrower/Investor whose experience exceeds 10 completed projects.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 6.97
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 763		 Originator,SitusAMC

SitusAMC

Originator,SitusAMC		 Reviewer Comment (2025-07-17): Waived with compensating factors per lender exception approval received in trailing docs.


Buyer Comment (2025-07-17): exception
     07/17/2025 2 C B C B C B C B C B xx FL Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025040873 XX XX XX   34474464 12025040873-23089 06/13/2025 Credit Property - Appraisal General Appraisal Requirements Property - Appraisal Subject is a refinance and property is listed for sale. Valuation Type: Appraisal / Valuation Report Date: 04/XX/2025 Subject was listed for sale 1/XX/25 for $xx (MLS #XX). Listing is classified as withdrawn with an off-market date of 4/XX/25 and final list price of $XX Guidelines require a letter of explanation from borrower reason for the prior listing as well as proof that it was taken off the market. File is missing required documentation.       Reviewer Comment (2025-06-27): clear


Buyer Comment (2025-06-25): loe


Reviewer Comment (2025-06-18): App date is 04/XX/2025 and listing cancelled 04/XX/2025. LOE required per the memo.


Buyer Comment (2025-06-16): Per credit memo, loe is not required.  Loan was taken off market prior to the app date.


Buyer Comment (2025-06-16): Credit memo
 06/27/2025     1 C A C A C A C A C A xx TX Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025050132 XX XX XX   34474475 12025050132-4256 06/16/2025 Credit Credit Credit Calculation / Analysis Guideline Guideline Requirement: Representative FICO score discrepancy. Representative FICO score of 681 is less than Guideline representative FICO score of 700. Representative FICO score of 681 is less than Guideline representative FICO score of 700. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Reserves: 34.26
Guideline Requirement: 2.00		 SitusAMC Reviewer Comment (2025-06-19): Waived with compensating factors per lender exception approval at origination.


Buyer Comment (2025-06-17): exception
     06/19/2025 2 C B C B C B C B C B xx PA Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025050132 XX XX XX   34474476 12025050132-3831 06/16/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Borrower lived rent-free until xx with someone other than spouse. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Reserves: 34.26
Guideline Requirement: 2.00		 SitusAMC Reviewer Comment (2025-06-19): Waived with compensating factors per lender exception approval at origination.


Buyer Comment (2025-06-17): see attached exception
     06/19/2025 2 C B C B C B C B C B xx PA Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025050293 XX XX XX   34474479 12025050293-2924 06/16/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Fraud Report not provided   Full Fraud Report missing, only Alerts Summary Section provided.       Reviewer Comment (2025-06-23): clear


Buyer Comment (2025-06-20): Please find final clear fraud guard attached. Thank you.
 06/23/2025     1 C A C A C A C A C A xx AZ Investment Purchase   D A D A     A A   N/A No
12025050293 XX XX XX   34474480 12025050293-4747 06/16/2025 Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   Estimated provided       Reviewer Comment (2025-06-23): clear


Buyer Comment (2025-06-20): Attached is the Final SS
 06/23/2025     1 D A D A D A D A D A xx AZ Investment Purchase   D A D A     A A   N/A No
12025050293 XX XX XX   34474481 12025050293-23698 06/16/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX Duplicate       Reviewer Comment (2025-06-23): clear


Buyer Comment (2025-06-20): Please find final clear fraud guard attached. Thank you.
 06/23/2025     1 C A C A C A C A C A xx AZ Investment Purchase   D A D A     A A   N/A No
12025040738 XX XX XX   34474483 12025040738-4513 06/16/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   The file is missing the Article Organizations for the borrowing business entity and all sub-entities.       Reviewer Comment (2025-06-24): clear


Reviewer Comment (2025-06-23): Need actual Articles of Organization. Cannot use the Cert of Good Standing for the Articles.


Buyer Comment (2025-06-20): XX


Buyer Comment (2025-06-20): XX


Buyer Comment (2025-06-20): XX


Buyer Comment (2025-06-20): XX


Buyer Comment (2025-06-20): XX
 06/24/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040738 XX XX XX   34474484 12025040738-4062 06/16/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Corporate Resolution not provided   The file is missing the fully executed Corporate Resolution from all owners of the business entity and sub-entities to confirm the guarantor has sufficient signing authority.       Reviewer Comment (2025-06-23): clear


Buyer Comment (2025-06-20): see attached signed operating agreement


Reviewer Comment (2025-06-19): Signatures from 2 of the owners were not provided on the Operating Agreement.


Buyer Comment (2025-06-18): Per operating agreement XX has authorization to sign
 06/23/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040738 XX XX XX   34474485 12025040738-5380 06/16/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   The file contains 2 different Operating Agreements for the borrowing business entity that are both dated 04//XX/2025 and have different ownership information. Documentation to verify which Operating Agreement is the correct one required. Operating Agreements to be fully executed.       Reviewer Comment (2025-06-23): cleared with 05/XX/2025 document.


Buyer Comment (2025-06-20): see attached amended operating agreement dated 05/2025
 06/23/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040738 XX XX XX   34474486 12025040738-3831 06/16/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide the Amended Operating Agreement for xx dated 05/XX/2025.       Reviewer Comment (2025-06-23): clear


Buyer Comment (2025-06-20): Amended


Reviewer Comment (2025-06-19): cleared in error.


Reviewer Comment (2025-06-19): clear


Reviewer Comment (2025-06-19): Not signed by all parties.


Buyer Comment (2025-06-17): XX
 06/23/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040738 XX XX XX   34474487 12025040738-6459 06/16/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-06-19): clear


Buyer Comment (2025-06-17): Fraud
 06/19/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025041715 XX XX XX   34474496 12025041715-4061 06/17/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Non-Owner Occupancy Declaration not provided   The Non-Owner Occupancy Certificate is not complete as Question 3A is missing the principal residence address.       Reviewer Comment (2025-06-20): Received completed NOO.


Buyer Comment (2025-06-18): affadavit
 06/20/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025041715 XX XX XX   34474497 12025041715-6459 06/17/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX There are open red flags on the Fraud Report.       Reviewer Comment (2025-06-20): Received fraud report with all red flags cleared.


Buyer Comment (2025-06-18): fraud
 06/20/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050125 XX XX XX   34474499 12025050125-3831 06/17/2025 Credit Credit Miscellaneous Guideline Credit Exception:   The credit application reflects the borrower lives rent free and is unmarried; therefore, borrower does not live with a spouse. The guidelines require underwriter discretion to allow borrower living with someone other than an spouse. The file does not contain the underwriter discretion documentation.       Reviewer Comment (2025-06-20): Received UW worksheet with UW discretion for borrower living rent free with someone other than spouse.


Buyer Comment (2025-06-18): uw comments
 06/20/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025050125 XX XX XX   34474500 12025050125-2919 06/17/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Provide OFAC for the borrowing entity.       Reviewer Comment (2025-06-20): Received


Buyer Comment (2025-06-18): ofac
 06/20/2025     1 C A C A C A C A D A xx FL Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025050125 XX XX XX   34474501 12025050125-23089 06/17/2025 Credit Property - Appraisal General Appraisal Requirements Property - Appraisal Subject is a refinance and property is listed for sale. Valuation Type: Appraisal / Valuation Report Date: 05/XX/2025 Property listed at time of application. Borrower to provide letter of explanation for the listing of the subject property.       Reviewer Comment (2025-06-20): Received borrower LOE


Buyer Comment (2025-06-20): listing loe
 06/20/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025051541 XX XX XX   34474507 12025051541-23688 06/17/2025 Credit Insurance Insurance Analysis Insurance Insufficient Coverage: Hazard insurance coverage amount is insufficient.           Reviewer Comment (2025-07-07): Replacement cost coverage in place.


Buyer Comment (2025-07-02): Please see attached RCE .. The replacement cost is $710,926, which matches the Dwelling


Buyer Comment (2025-07-02): Please see attached HOI. The Dwelling is $710,926
 07/07/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025040685 XX XX XX   34474521 12025040685-4513 06/17/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   The file is missing the Articles of Organization for XX       Reviewer Comment (2025-06-24): clear


Reviewer Comment (2025-06-20): Documents provided are not articles of organization.  They are printouts from the state website showing the status of the entities.  Please provide full articles of organization for each entity.


XX
 06/24/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040685 XX XX XX   34474522 12025040685-3831 06/17/2025 Credit Credit Miscellaneous Guideline Credit Exception:   The file is missing the fully executed Corporate Resolution from all owners of the business entity and sub-entities to confirm the guarantor has sufficient signing authority.       Reviewer Comment (2025-06-24): clear


Buyer Comment (2025-06-24): Operating agreement states xx has full power and authority to sign on behalf of the company.  Pg 1 of amended agreement.


Buyer Comment (2025-06-24): amended operating agreement


Reviewer Comment (2025-06-20): Please indicate which operating agreement and which section of the operating agreement grants our guarantor sole authority to sign for all entities.


Buyer Comment (2025-06-18): Borrower has signing authority per operating agreement


Buyer Comment (2025-06-18): Operating agreement
 06/24/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040685 XX XX XX   34474523 12025040685-5380 06/17/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided   Provide most recent amendment to the Operating Agreement for the borrowing entity.       Reviewer Comment (2025-06-24): clear


Buyer Comment (2025-06-24): see attached operating agreement


Reviewer Comment (2025-06-20): Document received does not indicate it is for our borrowing entity.  Need amended operating agreement for XX


Buyer Comment (2025-06-20): operating agreement


Buyer Comment (2025-06-18): see attached
 06/24/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025040685 XX XX XX   34474524 12025040685-6459 06/17/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-06-20): Updated fraud report with all red flags addressed received.


Buyer Comment (2025-06-18): fraud
 06/20/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025051194 XX XX XX   34474527 12025051194-6459 06/17/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): Please find attached the initial & final fraud guards. Thank you.
 07/02/2025     1 C A C A C A C A C A xx OR Investment Purchase   C A C A     A A   N/A No
12025050159 XX XX XX   34474529 12025050159-25749 06/17/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   The full executed final HUD/Closing Statement is missing from the file. The file contains page 1 of a Closing Statement only.       Reviewer Comment (2025-07-01): clear


Buyer Comment (2025-06-30): Please see attached Final SS
 07/01/2025     1 C A C A C A C A C A xx MO Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025050159 XX XX XX   34474530 12025050159-2827 06/17/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Deeds / Warranty / Grant / Quit-Claim not provided   The title reflects the property is currently vested in the borrowers' names plus a third party. The documentation indicates the third party is no longer going to be a vested party. A copy of the executed deed transferring the property from the third party to the borrowers is required.       Reviewer Comment (2025-07-01): clear


Buyer Comment (2025-06-30): Please see attached QCD 2


Buyer Comment (2025-06-30): Please see attached QCD 1
 07/01/2025     1 D A D A D A D A D A xx MO Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025050721 XX XX XX   34474533 12025050721-3831 06/17/2025 Credit Credit Miscellaneous Guideline Credit Exception:   LOE in file disclosed that borrowers live rent free since xx with someone other than spouse.  Unable to verify the previous 6 months' housing history.  Please provide a letter of explanation disclosing that property was owned free & clear.       Reviewer Comment (2025-07-11): Previous housing history verified.


Buyer Comment (2025-07-09): Please see email explanation & mtg history attached. Thank you.
 07/11/2025     1 C A C A C A C A C A xx MD Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050721 XX XX XX   34474534 12025050721-3831 07/11/2025 Credit Credit Miscellaneous Guideline Credit Exception:   LOE in file reflects our borrowers live rent free with someone other than a spouse and file does not contain a lender exception or UW discretion as to approving loan this way.       Reviewer Comment (2025-07-16): Cleared with UW comment on the 008 per the lender credit memo.


Buyer Comment (2025-07-14): Final 1008 with Underwriter comments for rent free no loe attached.
 07/16/2025     1   A   A   A   A   A xx MD Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050905 XX XX XX   34474548 12025050905-5205 06/18/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Required for borrowing entity.       Reviewer Comment (2025-06-23): clear


Buyer Comment (2025-06-20): ofac search
 06/23/2025     1 C A C A C A C A C A xx SC Investment Purchase   C A C A     A A   N/A No
12025050135 XX XX XX   34474549 12025050135-27835 06/18/2025 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2 Note Date:  06/XX/2025; Lien Position: 1         Reviewer Comment (2025-07-17): Received CDA


Buyer Comment (2025-07-15): Clear CDA attached.
 07/17/2025     1 D A D A D A D A D A xx NY Investment Purchase   D A A A     D A   N/A No
12025051520 XX XX XX   34474552 12025051520-25749 06/18/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   All copies provided are estimates.       Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): 07/01-Please see attached FSS
 07/02/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025032490 XX XX XX   34474553 12025032490-28330 06/18/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Minimum Loan Amount discrepancy. Note loan amount of $XX is less than Guideline minimum loan amount of $125,000.00. Lender approved exception request to loan amount <$125,000 - Seeking allowance to go to $XXdue to low appraised value. Comp Factors: 1) Credit score >40 points than minimum required 2) >= 4 Addt'l Reserves and <= $1.0M ( business account from XX provided) 3) No consumer lates in last 24-months. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 332.68
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 759		 SitusAMC

SitusAMC		 Reviewer Comment (2025-06-18): Waived with compensating factors per lender exception approval at origination.
     06/18/2025 2 B B B B B B B B B B xx TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025032490 XX XX XX   34474555 12025032490-6459 06/18/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-08): clear


Buyer Comment (2025-07-03): Please find clear fraud guard attached. Thank you.


Reviewer Comment (2025-06-27): There is a red flag that was not addressed.


Buyer Comment (2025-06-25): Please find cleared final fraud guard attached. Thank you.
 07/08/2025     1 C A C A C A C A C A xx TX Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025051409 XX XX XX   34474557 12025051409-3831 06/18/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception request due to borrower being 1x90x12 - 1x30x12 - no reduction in LTV and 0x60x12 - max 65% LTV. Comp Factors: (1) DSCR => 1.15 (2) Borrower's credit score is at least 40 points > min 640. (3) Borrower's mortgage history goes back to 2013. There was one other 1x30 in April 2020 (PIF 04/2021) No other late payments on the entire credit report. (4) Reserves of at least 6 months; 4 months > min 2. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 104.28
Guideline Requirement: 2.00

Guidelines Representative FICO: 640
Representative FICO: 764		 SitusAMC

SitusAMC		 Reviewer Comment (2025-06-18): Waived with compensating factors per lender exception approval at origination.
     06/18/2025 2 B B B B B B B B B B xx FL Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025051409 XX XX XX   34474558 12025051409-3831 06/18/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide complete copy of the 1004/appraisal. The bottom of the pages are cut off and the information is not legible. Additional conditions may apply.       Reviewer Comment (2025-07-08): clear


Buyer Comment (2025-07-03): Please find appraisal attached with pages not cut off. Thank you.
 07/08/2025     1 C A C A C A C A C A xx FL Investment Refinance - Rate/Term   C B C B     A A   N/A No
12025032557 XX XX XX   34474563 12025032557-3831 06/19/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Please provide evidence of good standing in the State of Texas.       Reviewer Comment (2025-06-27): Cleared per lender credit memo.


Buyer Comment (2025-06-25): credit memo is on pg 509 of your docs; trailing other


Reviewer Comment (2025-06-24): Please provide memo.


Buyer Comment (2025-06-20): Not required per credit memo


Buyer Comment (2025-06-20): Credit memo
 06/27/2025     1 C A C A C A C A C A xx TX Investment Purchase   C A C A     A A   N/A No
12025051551 XX XX XX   34474568 12025051551-6459 06/19/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-06-25): Fraud report with all red flags addressed/cleared received.


Buyer Comment (2025-06-23): fraud
 06/25/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025031057 XX XX XX   34474581 12025031057-3831 07/01/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Per guidelines for inherited properties, the property must be vested in the borrower's name.  Title commitment provided in file does not reflect property has been vested in our borrower's name.  Warranty deed executed at closing was provided, transferring to our borrower's name. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 620
Representative FICO: 689		 Originator,SitusAMC Reviewer Comment (2025-07-02): Waived with compensating factors at clients request.


Buyer Comment (2025-07-01): Lender accepts.  Please waive with available compensating factors
     07/02/2025 2   B   B   B   B   B xx FL Investment Refinance - Rate/Term   A B A B     A A   N/A No
12025050011 XX XX XX   34474584 12025050011-2919 06/20/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   VOM for subject property does not reflect date mortgage originated.   Need corrected form to verify number of payments made.       Reviewer Comment (2025-06-25): clear


Buyer Comment (2025-06-24): VOM
 06/25/2025     1 C A C A C A C A D A xx OH Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025050011 XX XX XX   34474585 12025050011-6459 06/20/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX Red flags are not cleared on fraud report.       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): Fraud


Reviewer Comment (2025-06-25): There is 1 red flag that needs to be addressed.


Buyer Comment (2025-06-23): fraud
 06/30/2025     1 C A C A C A C A C A xx OH Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025042020 XX XX XX   34474588 12025042020-4513 06/23/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Articles of Organization/Formation not provided   Articles of Organization missing in Loan File.       Reviewer Comment (2025-07-08): clear


Buyer Comment (2025-07-03): Articles of Organization attached. Thank you.
 07/08/2025     1 C A C A C A C A C A xx LA Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025040161 XX XX XX   34474594 12025040161-4245 06/23/2025 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of 80.00000% exceeds Guideline loan to value percentage of 75.00000%. Lender approved exception for LTV of 80% versus Max LTV 75% for cash out refinance. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 773		 SitusAMC Reviewer Comment (2025-06-23): Waived with compensating factors per lender exception approval at origination.
     06/23/2025 2 B B B B B B B B B B xx NJ Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025042716 XX XX XX   34474597 12025042716-30930 06/23/2025 Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of $XX is less than the note amount of $XX based on the Commitment in file. The Title Policy Amount of $XXis less than the note amount of $XX based on the Commitment in file.       Reviewer Comment (2025-06-26): clear


Buyer Comment (2025-06-24): Final
 06/26/2025     1 B A B A B A B A B A xx IL Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025042716 XX XX XX   34474598 12025042716-3831 06/23/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Exception allowed 80% LTV on Cash Out-Refinance.
Compensating factor: DSCR is greater than 1.15
Credit score is 745 and no late payments in greater than 24 months.		 The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 745		 SitusAMC Reviewer Comment (2025-06-23): Waived with compensating factors per lender exception approval at origination.
     06/23/2025 2 B B B B B B B B B B xx IL Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025021334 XX XX XX   34474600 12025021334-3831 06/23/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Approval , 1008 states property is a 2 unit property but Appraisal 1025 page 1 shows its 3 unit property, Photos available in appraisal shows its a 2 unit property, Comparable rent schedule show unit breakdown of 2 units.       Buyer Comment (2025-07-07): please clear exception


Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-06-30): appraisal is effective as of 03/XX/25


Reviewer Comment (2025-06-26): Cannot use a post closing appraisal to clear this.


Buyer Comment (2025-06-26): appraisal
 07/09/2025     1 C A C A C A C A C A xx NY Investment Purchase   C A C A     A A   N/A No
12025021334 XX XX XX   34474601 12025021334-4264 06/23/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of 1.25 is less than Guideline PITIA months reserves of 2.00.         Reviewer Comment (2025-07-14): Received evidence of access to funds letter from CPA


Buyer Comment (2025-07-10): cpa letter
 07/14/2025     1 C A C A C A C A C A xx NY Investment Purchase   C A C A     A A   N/A No
12025021334 XX XX XX   34474602 12025021334-3831 06/23/2025 Credit Credit Miscellaneous Guideline Credit Exception:   OFAC is missing for the borrowing entity.       Reviewer Comment (2025-06-26): clear


Buyer Comment (2025-06-24): ofac search
 06/26/2025     1 C A C A C A C A C A xx NY Investment Purchase   C A C A     A A   N/A No
12025021334 XX XX XX   34474603 12025021334-28636 06/23/2025 Credit Missing Document General Missing Document Missing Document: Evidence of Access to Funds not provided   Evidence of access to the business funds is required.       Reviewer Comment (2025-07-14): Received evidence of access to funds letter from CPA


Buyer Comment (2025-07-10): see attached cpa letter
 07/14/2025     1 C A C A C A C A C A xx NY Investment Purchase   C A C A     A A   N/A No
12025051118 XX XX XX   34474604 12025051118-27835 06/24/2025 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2 Note Date:  06/XX/2025; Lien Position: 1 Secondary valuation is missing in file.       Reviewer Comment (2025-07-07): clear


Buyer Comment (2025-07-02): Clear CDA attached. Thank you.
 07/07/2025     1 D A D A D A D A D A xx FL Investment Refinance - Cash-out - Other   D B C B     D A   N/A No
12025051118 XX XX XX   34474606 12025051118-31588 06/24/2025 Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing. Hazard Insurance Policy Effective Date 06/XX/2025, Disbursement Date: 06/XX/2025 The homeowner's insurance declarations page in the file verified an effective date of 06/XX/2025 which is after the consummation date of 06/XX/2025. Require a revised homeowner's insurance declaration page or policy verifying coverage in effect at or prior to consummation. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   SitusAMC

SitusAMC		 Reviewer Comment (2025-07-15): Waived with compensating factors per lender request.


Buyer Comment (2025-07-11): Insurance agent confirmed that there are no damage/claims. Please waive to a grade B


Reviewer Comment (2025-07-10): Agent email unable to be used to clear this condition.  If lender is accepting the HOI, they can request to waive, but we would not be able to clear.


Buyer Comment (2025-07-08): Please see attached email from the insurance agent.
     07/15/2025 2 C B C B C B C B C B xx FL Investment Refinance - Cash-out - Other   D B C B     D A   N/A No
12025051118 XX XX XX   34474607 12025051118-5205 06/24/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Missing OFAC for business entity.       Reviewer Comment (2025-07-07): clear


Buyer Comment (2025-07-02): Please find clear ofac attached.
 07/07/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   D B C B     D A   N/A No
12025050005 XX XX XX   34474612 12025050005-2799 06/24/2025 Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete Note Missing Document: Note - Subject Lien not provided   Page 3 of the Note is not fully legible. Provide an updated copy of the Note with all pages legible.       Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): Attached legible copy of all pages of note
 07/02/2025     1 D A D A D A D A D A xx NJ Investment Refinance - Rate/Term   D A D A     A A   N/A No
12025051164 XX XX XX   34474617 12025051164-3831 06/24/2025 Credit Credit Miscellaneous Guideline Credit Exception:   OFAC is missing for the borrowing entity.       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): XX pg 119
 06/30/2025     1 C A C A C A C A C A xx MD Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025051164 XX XX XX   34474618 12025051164-3831 06/24/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide verification that the 2nd lien paid off meets guideline requirments for paying off a second lien with rate term refinance.       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): XX reports the lien as a closed end loan; per guidelines Any subordinate loan not used in the acquisition of the subject property provided
one of the following apply:▪ Closed end loan
 06/30/2025     1 C A C A C A C A C A xx MD Investment Refinance - Rate/Term   C A C A     A A   N/A No
12025050568 XX XX XX   34474620 12025050568-3831 06/24/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Please provide evidence that the CPA has no affiliation with the borrower or the business. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Reserves: 11.83
Guideline Requirement: 2.00		 Originator,SitusAMC Reviewer Comment (2025-07-02): Waived with compensating factors at clients request.


Buyer Comment (2025-07-02): Lender accepts.  Please waive with available compensating factors”


Reviewer Comment (2025-07-02): Cannot use a post closing document to clear this.


Buyer Comment (2025-06-30): cpa letter
     07/02/2025 2 C B C B C B C B C B xx FL Investment Purchase   C B C B     A A   N/A No
12025051163 XX XX XX   34474625 12025051163-25749 06/24/2025 Credit Missing Document General Missing Document Missing Document: HUD/CD not provided   provide fully executed final HUD. Copy provided is an estimate.       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): Final
 06/30/2025     1 C A C A C A C A C A xx WA Investment Purchase   C A C A     A A   N/A No
12025051294 XX XX XX   34474634 12025051294-5205 06/25/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   Provide OFAC for the borrowing entity.       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): ofac search
 06/30/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025030405 XX XX XX   34474636 12025030405-6459 06/27/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX, Credit Report: Original // Borrower: XX There are red flags on the fraud report that have not been addressed.       Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-06-30): fraud summary
 07/02/2025     1 C A C A C A C A C A xx IL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025050748 XX XX XX   34474650 12025050748-31588 06/25/2025 Credit Hazard Insurance Insufficient Coverage Hazard Insurance The Hazard Insurance Policy Effective Date is after closing. Hazard Insurance Policy Effective Date 06/XX/2025, Disbursement Date: 06/XX/2025 Hazard Insurance Policy Effective date 06/XX/2025 Start after the disbursement date 06/XX/2025.       Reviewer Comment (2025-07-09): clear


Buyer Comment (2025-07-07): Please see attached HOI with updated effective date.
 07/09/2025     1 C A C A C A C A C A xx OK Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
12025050748 XX XX XX   34474652 12025050748-4245 06/25/2025 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of 75.69659% exceeds Guideline loan to value percentage of 75.00000%. Calculated loan to value percentage of 75.69659% exceeds Guideline loan to value percentage of 75.00000%. The representative FICO score exceeds the guideline minimum by at least 40 points. Guidelines Representative FICO: 700
Representative FICO: 798		 Originator Pre-Close,SitusAMC Reviewer Comment (2025-07-07): Waived with compensating factors per lender exception approval at origination.


Buyer Comment (2025-07-02): Please find exception for ltv attached. Thank you.
     07/07/2025 2 C B C B C B C B C B xx OK Investment Refinance - Cash-out - Other   C B C B     A A   N/A No
32025050299 XX XX XX   34474654 32025050299-5205 06/26/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   OFAC was not provided for the borrowing entity.       Reviewer Comment (2025-07-01): clear


Buyer Comment (2025-06-27): xx to include borrowing entity OFAC screening.
 07/01/2025     1 C A C A C A C A C A xx MO Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
32025051249 XX XX XX   34474657 32025051249-5205 06/26/2025 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided   OFAC was not provided for the borrowing entity.       Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-06-30): Fraud Report to include the OFAC screening for the borrowing entity.
 07/02/2025     1 C A C A C A C A C A xx MO Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025031560 XX XX XX   34474675 12025031560-4507 06/27/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided   Certificate of Good Standing is not within 90 days, as required by guidelines. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.		   SitusAMC

SitusAMC		 Reviewer Comment (2025-07-17): Waived with compensating factors per lender request.


Buyer Comment (2025-07-17): Lender accepts.  Please waive with available compensating factors”
     07/17/2025 2 C B C B C B C B C B xx NY Investment Purchase   C B C B     A A   N/A No
12025031560 XX XX XX   34474676 12025031560-6459 06/27/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX         Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): XX reports all high/medium alerts cleared
 07/02/2025     1 C A C A C A C A C A xx NY Investment Purchase   C B C B     A A   N/A No
12025051270 XX XX XX   34474682 12025051270-3831 06/30/2025 Credit Credit Miscellaneous Guideline Credit Exception:   The credit application and letter of explanation reflects the borrower lives rent free with parents. The guidelines require underwriter discretion to allow borrower living with someone other than an spouse. The file does not contain the underwriter discretion documentation.       Reviewer Comment (2025-07-02): Cleared per lender credit memo.


Buyer Comment (2025-07-01): 07/01-Please see the following attached LOE from UW explaining Rent Free
 07/02/2025     1 C A C A C A C A C A xx FL Investment Refinance - Cash-out - Other   C A C A     A A   N/A No
12025051252 XX XX XX   34474684 12025051252-2919 07/01/2025 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided   Provide 12 month pay history for the primary residence or verify it is owned free and clear.       Reviewer Comment (2025-07-11): Received LOE from borrower and parent detailing they live rent free.  Updated 1008 also received in trailing documents, detailing UW discretion to allow this living situation.


Buyer Comment (2025-07-09): Please find attached underwriter 1008 with comments living rent free permitted with no loe per guidelines. Thank you.


Reviewer Comment (2025-07-09): Provide letter form borrower explaining the living situation. Does he live rent free with a spouse?


Buyer Comment (2025-07-07): Per 1003 - Borrower primary lives rent free see attached included with initial upload submission. Thanks so much.
 07/11/2025     1 C A C A C A C A D A xx FL Investment Refinance - Cash-out - Other   D A D A     A A   N/A No
12025051233 XX XX XX   34474696 12025051233-767 07/08/2025 Credit Credit Credit Eligibility Guideline Public Record Issue: Credit Report: Original // Public Record Type: Charge-offs / Balance: 9506.00 Per guidelines, charge-offs greater than 24 months in excess of $2,500 must be paid. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Reserves: 171.08
Guideline Requirement: 2.00

Guidelines Representative FICO: 700
Representative FICO: 799		 Originator,SitusAMC

Originator,SitusAMC		 Reviewer Comment (2025-07-17): Waived with compensating factors per lender exception approval received in trailing docs.


Buyer Comment (2025-07-15): exception
     07/17/2025 2 B B B B B B B B B B xx CO Investment Refinance - Cash-out - Other   B B B B     A A   N/A No
12025050506 XX XX XX   34474697 12025050506-846 07/09/2025 Credit Insurance Insurance Documentation Insurance Hazard Insurance Error: Missing HO-6 policy, blanket hazard insurance policy provided does not contain unit interior coverage.   HO6 is not provided       Reviewer Comment (2025-07-14): Received HOI agent email stating walls in coverage included


Buyer Comment (2025-07-10): walls in


Buyer Comment (2025-07-10): email from agent
 07/14/2025     1 C A C A C A C A C A xx CA Investment Purchase   C A C A     A A   N/A No
12025031220 XX XX XX   34474765 12025031220-23698 04/10/2025 Credit Credit Credit Documentation Credit No evidence of fraud report in file Credit Report: Original // Borrower: XX, Credit Report: Original // Borrower:XX Fraud report not provided.       Reviewer Comment (2025-04-14): cleared


Buyer Comment (2025-04-11): Fraud
 04/14/2025     1 C A C A C A C A C A xx TX Primary Refinance - Cash-out - Other   C A C A C A A A Exempt from ATR Exempt from ATR No
12025031220 XX XX XX   34474767 12025031220-6336 04/10/2025 Compliance Compliance State Compliance Misc. State Level (TX50(a)(6)) Texas Cash-out Loan (T-42 Endorsement Not Obtained) Texas Constitution Section 50(a)(6): Acceptable FNMA title insurance endorsements not obtained for home equity loan.  Although the loan file contains the T-42 Endorsement, there is no evidence the Title Policy includes the Texas T-42.1 endorsement. (The loan is a Texas Section 50 (a)(6) home equity loan.)         Reviewer Comment (2025-04-18): Cleared with preliminary title and final closing statement.


Reviewer Comment (2025-04-15): Will be reviewed with final title.


Buyer Comment (2025-04-11): Please see attached Statement it will be provided in final policy.
 04/18/2025     1 B A B A B A B A B A xx TX Primary Refinance - Cash-out - Other The endorsements would be required at the time of original title policy issuance, there is not an obvious remediation C A C A C A A A Exempt from ATR Exempt from ATR No
12025031220 XX XX XX   34474768 12025031220-6524 04/10/2025 Compliance Compliance State Compliance State Defect (TX50(a)(6)) Texas Cash-out Loan  (Itemization of Points and Fees Not Provided) Texas Constitution Section 50(a)(6): Final Itemized disclosure of fees, points, costs and charges not provided to borrower at least one (1) business day prior to closing.         Reviewer Comment (2025-05-06): Cleared with signed CD.


Buyer Comment (2025-05-05): Please see attached


Reviewer Comment (2025-04-25): For this exception we need a CD, signed and dated or provide verification that it was sent to the borrower at least 1 business day prior to consummation and all of the fees need to match what's on the final CD in the file.


Buyer Comment (2025-04-24): Please advise what you will need to clear this condition.03/xx CD signed copy  will clear this exception?


Reviewer Comment (2025-04-24): Fees on the 03/XX/2025 CD do not match the fees on the 03/XX/2025 CD. The CD needs to be signed or we need the E-Delivery disclosure.


Buyer Comment (2025-04-22): Please see attached CD dated 03/xx.


Reviewer Comment (2025-04-22): The file does not contain evidence the final itemized disclosure was provided to borrower at least 1 day prior to closing.  Closing statement received in trailing docs is dated 3/XX/2025 and shows it was printed on 4/112025.  All of the final CDs in file are dated and signed 3/XX/2025, which is the day of closing.  Please provide the document you are referencing that shows an itemization of the final points, costs and charges were disclosed to borrower at least 1 business day prior to closing.


Buyer Comment (2025-04-22): We provided the CD and 1003 to the borrower more than 1 day prior as required by the TX job aid - which was already sent over a
What additional form are you requiring? please advise
 05/06/2025     1 C A C A C A C A C A xx TX Primary Refinance - Cash-out - Other Refund or credit the borrower $1,000 and offer the borrower the right to refinance the extension of credit for the remaining term of the loan at no cost to the borrower on the same terms, including interest, as the original extension of credit with any modifications necessary to comply with this section or on terms on which the borrower and the lender or holder otherwise agree. C A C A C A A A Exempt from ATR Exempt from ATR No
12025031220 XX XX XX   34474769 12025031220-767 04/10/2025 Credit Credit Credit Eligibility Guideline Public Record Issue: Credit Report: Original // Public Record Type: Judgments / Balance: 15688.91 Unable to determine if judgment was released or satisfied.       Reviewer Comment (2025-04-14): cleared


Buyer Comment (2025-04-11): Non Suit Final order
 04/14/2025     1 B A B A B A B A B A xx TX Primary Refinance - Cash-out - Other   C A C A C A A A Exempt from ATR Exempt from ATR No
12025011233 XX XX XX   34474772 12025011233-36435 06/04/2025 Compliance Compliance Federal Compliance TRID Defect TRID Additional 3-Day Waiting Period Timing Test – Regular Transaction TILA-RESPA Integrated Disclosure – Most recent Closing Disclosure received at least 3 days prior to closing dated 05/XX/2025 disclosed an inaccurate APR of 8.02800%  compared to the actual APR at consummation of 8.25750% and a revised CD disclosing an accurate APR was not received by borrower at least three (3) business days prior to consummation. 1026.19(f)(1)(i) and (ii) require that the consumer receives accurate disclosures with the actual terms of the transaction three (3) business days prior to consummation.  If the APR disclosed on the initial CD becomes inaccurate as defined under 1026.22, revised disclosures with accurate APR must be disclosed and a new 3-day waiting period prior to consummation provided.  The APR on the most recent CD received 3 days prior to consummation (8.028%) changed more than the 0.125% (regular transaction) threshold compared to the APR at consummation (8.26976%) and a revised disclosure with accurate APR was not received by the consumer at least 3 business days prior to consummation.       Reviewer Comment (2025-06-25): SitusAMC received proof of receipt.


Buyer Comment (2025-06-24): Attached is signed xx CD by borrower.
 06/25/2025     1 C A C A C A C A C A xx AZ Primary Refinance - Cash-out - Other TRID timing exception, no remediation available. C B B B C B B B Exempt from ATR Exempt from ATR No
12025011233 XX XX XX   34474773 12025011233-30168 06/04/2025 Compliance Compliance Federal Compliance TRID Defect TRID Interim Closing Disclosure Timing Test TILA-RESPA Integrated Disclosure – Corrected Closing Disclosure provided on or after 05/XX/2025 contains a change in APR and a complete Closing Disclosure was not received by borrower at least three (3) business days prior to consummation Closing Disclosure provided on or after 05/XX/2025 contains a change in APR and a complete Closing Disclosure was not received by borrower at least three business days prior to consummation       Reviewer Comment (2025-06-25): SitusAMC received proof of receipt.
 06/25/2025     1 C A C A C A C A C A xx AZ Primary Refinance - Cash-out - Other TRID timing exception, no remediation available. C B B B C B B B Exempt from ATR Exempt from ATR No
12025011233 XX XX XX   34474774 12025011233-6542 06/04/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Re-Inspection Fee.  Fee Amount of $225.00 exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower. (75103) Appraisal Re-Inspection Fee Amount of $225.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.       Reviewer Comment (2025-07-08): SitusAMC received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD.


Buyer Comment (2025-07-07): See attached all cure docs.


Reviewer Comment (2025-06-23): SitusAMC received PCCD, however we also require LOE and true & certified copy of final settlement statement to verify fees charged at closing. Also, a valid Changed Circumstance for addition of fee on CD dated 05/21 or cure is required.  Cure documents consist of PCCD, LOE, proof of mailing & copy of refund check.


Buyer Comment (2025-06-20): Attached is the Invoice the Appraisal review fee.


Buyer Comment (2025-06-20): Attached find the PCCD updating the amount of the Appraisal Review Fee (Attaching invoice) to correct amount. This was paid to the vendor, not to xx.
   07/08/2025   2 C B C B C B C B C B xx AZ Primary Refinance - Cash-out - Other Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B B B C B B B Exempt from ATR Exempt from ATR No
12025011233 XX XX XX   34474775 12025011233-4256 06/04/2025 Credit Credit Credit Calculation / Analysis Guideline Guideline Requirement: Representative FICO score discrepancy. Representative FICO score of 633 is less than Guideline representative FICO score of 640. Lender exception was approved to allow FICO of 633 versus program minimum of 640. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has verified disposable income of at least $2500.00.		 Loan to Value: 42.24138%
Guideline Maximum Loan to Value: 70.00000%

DTI: 11.09503%
Guideline Maximum DTI: 50.00000%

Reserves: 43.84
Guideline Requirement: 3.00

Documentation Type: 12mo Bank Statement
Disposable Income: $33,999.12		 SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-06-03): Waived with compensating factors per lender exception approval at origination.
     06/03/2025 2 B B B B B B B B B B xx AZ Primary Refinance - Cash-out - Other   C B B B C B B B Exempt from ATR Exempt from ATR No
12025011233 XX XX XX   34474776 12025011233-6278 06/04/2025 Credit Credit Credit Documentation Guideline Aged document: Credit Report  is more than 90 days prior to the note date. Credit Report: Original // Borrower: XX Lender exception was approved to allow 1-day extension on credit report expiration versus program requirement credit report good for 120 days. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has verified disposable income of at least $2500.00.		 Loan to Value: 42.24138%
Guideline Maximum Loan to Value: 70.00000%

DTI: 11.09503%
Guideline Maximum DTI: 50.00000%

Reserves: 43.84
Guideline Requirement: 3.00

Documentation Type: 12mo Bank Statement
Disposable Income: $33,999.12		 SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-06-03): Waived with compensating factors per lender exception approval at origination.
     06/03/2025 2 B B B B B B B B B B xx AZ Primary Refinance - Cash-out - Other   C B B B C B B B Exempt from ATR Exempt from ATR No
12025011233 XX XX XX   34474777 12025011233-6498 06/04/2025 Property Property - Appraisal Appraisal Reconciliation Property - Appraisal Appraisal is required to be in name of Lender Valuation Type: Appraisal / Valuation Report Date: 12/XX/2024 Lender approved exception to accept the appraisal transfer as-is without any revisions since the original appraiser is not cooperating to provide revisions. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has verified disposable income of at least $2500.00.		 Loan to Value: 42.24138%
Guideline Maximum Loan to Value: 70.00000%

DTI: 11.09503%
Guideline Maximum DTI: 50.00000%

Reserves: 43.84
Guideline Requirement: 3.00

Documentation Type: 12mo Bank Statement
Disposable Income: $33,999.12		 SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-06-03): Waived with compensating factors per lender exception approval at origination.
     06/03/2025 2 B B B B B B B B B B xx AZ Primary Refinance - Cash-out - Other   C B B B C B B B Exempt from ATR Exempt from ATR No
12025051599 XX XX XX   34474780 12025051599-6542 06/12/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $1,065.00 exceeds tolerance of $950.00.  Insufficient or no cure was provided to the borrower. (7506) No valid Change of circumstance provided, nor evidence of cure in file.       Reviewer Comment (2025-07-07): SitusAMC received LOX for rebuttal comment with additional information for a valid changed circumstance.


Buyer Comment (2025-07-02): Please see attached xx INITIAL LE with E-Consent


Reviewer Comment (2025-06-27): SItusAMC received email log confirming the requirement of rush for appraisal but COC cannot be applied as e-consent was received on 05/xx and LEs are electronically signed on 05/xx and 05/xx. Please provide earliest e-consent so that COC can be applied.


Buyer Comment (2025-06-25): Please see attached email.


Reviewer Comment (2025-06-17): SitusAMC received COC dated 05/xx with reason for increase in fee is due to rush request. However, the reason provided is not sufficient as to why the rush was requested for appraisal. Please provide more information on rush request to validate the reason for increase or cure would be due to the borrower.


Buyer Comment (2025-06-13): Please find attached COC. Thank You!
 07/07/2025     1 C A C A C A C A C A xx WA Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A C A C A A A Exempt from ATR Exempt from ATR No
12025051599 XX XX XX   34474781 12025051599-27657 06/12/2025 Credit Missing Document General Missing Document Missing Document: Account Statements - Personal not provided   Provide February statement from the XXaccount ending with XX.       Reviewer Comment (2025-07-07): clear


Buyer Comment (2025-07-02): Please see attached 401k statement for January - March 2025. which reflects withdrawal of $1,056,599.57 from 401(K) used to open XX

The funds in account #XX are seasoned retirement assets.
 07/07/2025     1 C A C A C A C A C A xx WA Primary Purchase   C A C A C A A A Exempt from ATR Exempt from ATR No
12025040917 XX XX XX   34474785 12025040917-6542 06/13/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Originator Compensation.  Fee Amount of $11,712.00 exceeds tolerance of $10,980.00.  Insufficient or no cure was provided to the borrower. (7326) The Loan Originator Fee increased from $10,980.00 on the initial Loan Estimate to $11,712.00 on the Closing Disclosure dated 05/XX/2025 without a valid change of circumstance. Please note, the file did contain a change of circumstance; however, the change occurred on 05/XX/2025 which is not within 3 business days of the change.       Reviewer Comment (2025-06-17): SitusAMC received valid COC and CD dated 05/XX/2025


Buyer Comment (2025-06-16): Please see attached CD dated 5/12 for which COC dated 05/10 is available.
 06/17/2025     1 C A C A C A C A C A xx FL Primary Refinance - Rate/Term Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Exempt from ATR Exempt from ATR No
12025040917 XX XX XX   34474786 12025040917-6542 06/13/2025 Compliance Compliance Federal Compliance TRID Defect TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Re-Inspection Fee.  Fee Amount of $250.00 exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower. (75103) The Appraisal Re-Inspection Fee increased from $0.00 on the initial Loan Estimate to $250.00 on the Closing Disclosure dated 05/XX/2025 without a valid change of circumstance. Please note, the file did contain a change of circumstance dated 05/XX/2025; however, the appraisal report effective date is 12/XX/2024 and would have expired on 04/XX/2025. Adding the re-inspection fee on 05/XX/2025 is more than the allowed 3 business days after the change.       Reviewer Comment (2025-06-17): SitusAMC received valid COC and CD dated 05/XX/2025


Buyer Comment (2025-06-16): The Appraisal Re-Inspection Fee increased from $0.00 on the initial Loan Estimate to $250.00 on the Closing Disclosure dated 05/XX/2025 and not 05/XX/2025.
 06/17/2025     1 C A C A C A C A C A xx FL Primary Refinance - Rate/Term Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A A A C A A A Exempt from ATR Exempt from ATR No
12025042186 XX XX XX   34474788 12025042186-6582 06/13/2025 Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $171.00 exceeds tolerance of $0.00 plus 10% or $0.00.  Sufficient or excess cure was provided to the borrower at Closing. (0) Valid change of circumstance or sufficient cure is missing.       Reviewer Comment (2025-06-10): Sufficient Cure Provided At Closing
   06/10/2025   1 A A A A A A A A A A xx TX Primary Purchase Final CD evidences Cure A A A A A A A A Exempt from ATR Exempt from ATR No
12025042529 XX XX XX   34474811 12025042529-28640 06/16/2025 Credit Missing Document General Missing Document Missing Document: Source of Funds/Deposit not provided   The borrower received a gift of $14,000 that was provided directly tot he closing agent per the Closing Disclosure. The guidelines require documentation to verify the donor gave the closing agent the gift funds in the form of a certified check, a cashier’s check, or other official check (e.g., wire confirmation), which was not provided in the file.       Reviewer Comment (2025-06-18): Clear


Buyer Comment (2025-06-17): Gift wire for $14,000 + $15,600=$29,600


Buyer Comment (2025-06-17): gift wire
 06/18/2025     1 C A C A C A C A C A xx NC Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025042529 XX XX XX   34474812 12025042529-3831 06/16/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception at origination to allow the borrower living rent free with other than spouse.  Compensating factors noted: Length of employment - borrower has been self-employed for over 9 years in the same position/industry; DTI is at least 10 percentage points <max 45%;  Reserves of at least 7 months - 4 months > min 3 (Reserves may not be gift funds). The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has verified disposable income of at least $2500.00.		 DTI: 34.17161%
Guideline Maximum DTI: 45.00000%

Reserves: 15.58
Guideline Requirement: 3.00

Documentation Type: 12mo Bank Statement
Disposable Income: $2,556.88		 SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-06-16): Waived with compensating factors per lender exception approval at origination.
     06/16/2025 2 B B B B B B B B B B xx NC Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025042529 XX XX XX   34474813 12025042529-562 06/16/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation 1003 Error: Own/Rent  was not provided   The final application reflects the borrower rents their primary residence for $1,400 per month; however, the file contains a letter of explanation that the borrower lives rent free. The application should reflect No primary housing expense.       Reviewer Comment (2025-06-26): clear


Buyer Comment (2025-06-24): certificate


Buyer Comment (2025-06-24): 1003
 06/26/2025     1 B A B A B A B A B A xx NC Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025030971 XX XX XX   34474818 12025030971-4961 06/17/2025 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   The guidelines require housing history for the most recent 12 months for the primary residence. The file contains a Closing Disclosure for a recent refinance on the primary residence that indicates a private mortgage was paid off. The file does not contain the required documentation to verify the 12 months of housing history to include a fully executed VOM together with either bank statements showing account ownership and timely payments debited by mortgage servicer, or canceled checks front and back along with the most recent mortgage statement. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		 Documentation Type: 12mo Bank Statement
Disposable Income: $21,767.21

Reserves: 46.58
Guideline Requirement: 3.00

DTI: 24.61588%
Guideline Maximum DTI: 50.00000%		 SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-08-07): Waived with compensating factors per lender exception approval.


Buyer Comment (2025-08-06): Please find exception attached. Thank you.
     08/07/2025 2 C B C B C B C B C B xx FL Investment Refinance - Rate/Term   C B C B A A A A Exempt from ATR N/A No
12025050886 XX XX XX   34474833 12025050886-29618 06/18/2025 Credit Credit Credit Documentation Guideline The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.   The file is missing 6 months of mortgage history. Payment history provided for the most recent 6 months.       Reviewer Comment (2025-06-24): clear


Buyer Comment (2025-06-20): XX May 2025 payment


Buyer Comment (2025-06-20): XX mtg statements
 06/24/2025     1 C A C A C A C A C A xx CA Primary Refinance - Cash-out - Other   C B C B A A A A Exempt from ATR Exempt from ATR No
12025050886 XX XX XX   34474834 12025050886-3831 06/18/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to use the combination of (2) P&L statements for documentation purposes rather than obtaining a new P&L.  Initial P&L provided covers time period 01/2024 to 12/2024, and an updated P&L covers time period 01/2025 to 04/2025. Borrower has verified disposable income of at least $2500.00.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		 Documentation Type: 12mo CPA P&L
Disposable Income: $19,175.06

Loan to Value: 40.00000%
Guideline Maximum Loan to Value: 70.00000%

DTI: 16.58622%
Guideline Maximum DTI: 50.00000%		 SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-06-18): Waived with compensating factors per lender exception approval at origination.
     06/18/2025 2 B B B B B B B B B B xx CA Primary Refinance - Cash-out - Other   C B C B A A A A Exempt from ATR Exempt from ATR No
12025051189 XX XX XX   34474838 12025051189-6582 06/18/2025 Compliance Compliance Federal Compliance TRID TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $138.75 exceeds tolerance of $126.00 plus 10% or $138.60.  Sufficient or excess cure was provided to the borrower at Closing. (0)         Reviewer Comment (2025-06-13): Sufficient Cure Provided At Closing
   06/13/2025   1 A A A A A A A A A A xx NV Primary Purchase Final CD evidences Cure C B C B A A A A Exempt from ATR Exempt from ATR No
12025051189 XX XX XX   34474840 12025051189-3831 06/18/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Appraisal not completed by an Appraisal Management Company.  Lender exception in file.  Compensating factors: DTI, residual income, credit score. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly mortgage payment has decreased by at least 20%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		 Documentation Type: 12mo Bank Statement
Disposable Income: $89,818.68

Prior Housing Expense: $15,238.70
Proposed Housing Expense: $8,758.23

Reserves: 14.09
Guideline Requirement: 6.00

DTI: 28.14926%
Guideline Maximum DTI: 50.00000%		 Originator,SitusAMC

Originator,SitusAMC

Originator,SitusAMC

Originator,SitusAMC		 Reviewer Comment (2025-06-18): Waived with compensating factors per lender exception approval at origination.
     06/18/2025 2 B B B B B B B B B B xx NV Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025051189 XX XX XX   34474841 12025051189-3831 06/18/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide evidence there is no affiliation between the CPA, borrower and borrowers business. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly mortgage payment has decreased by at least 20%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		 Documentation Type: 12mo Bank Statement
Disposable Income: $89,818.68

Prior Housing Expense: $15,238.70
Proposed Housing Expense: $8,758.23

Reserves: 14.09
Guideline Requirement: 6.00

DTI: 28.14926%
Guideline Maximum DTI: 50.00000%		 Originator,SitusAMC

Originator,SitusAMC

Originator,SitusAMC

Originator,SitusAMC		 Reviewer Comment (2025-07-02): Waived with compensating factors at clients request.


Buyer Comment (2025-07-02): Please waive. Thank you.


Reviewer Comment (2025-07-02): Unable to use a post closing document to clear the exception.


Buyer Comment (2025-07-01): CPA letter
     07/02/2025 2 C B C B C B C B C B xx NV Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025031752 XX XX XX   34474845 12025031752-6583 06/19/2025 Compliance Compliance Federal Compliance TRID TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $875.00 exceeds tolerance of $850.00.  Sufficient or excess cure was provided to the borrower at Closing. (7506)         Reviewer Comment (2025-06-13): Sufficient Cure Provided At Closing
   06/13/2025   1 A A A A A A A A A A xx MT Primary Refinance - Cash-out - Other Final CD evidences Cure C A C A A A A A Exempt from ATR Exempt from ATR No
12025031752 XX XX XX   34474846 12025031752-29187 06/19/2025 Credit Guideline Guideline Issue Guideline Aged document: Asset Account date is more than 90 days prior to Closing. Financial Institution: XX // Account Type: Savings / Account Number: XX XX statements are over 90 days old at closing. Provide March and April statements to have most recent 30 days of statements..       Reviewer Comment (2025-06-23): Clear.


Buyer Comment (2025-06-20): Not using for reserves; Borrower has sufficient funds from Cash out proceeds.
 06/23/2025     1 C A C A C A C A C A xx MT Primary Refinance - Cash-out - Other   C A C A A A A A Exempt from ATR Exempt from ATR No
12025031752 XX XX XX   34474847 12025031752-27657 06/19/2025 Credit Missing Document General Missing Document Missing Document: Account Statements - Personal not provided   Provide most recent statement from XX dated within 30 days of the Note date.       Reviewer Comment (2025-06-23): clear


Buyer Comment (2025-06-20): Not using for reserves; Borrower has sufficient funds from Cash out proceeds.
 06/23/2025     1 C A C A C A C A C A xx MT Primary Refinance - Cash-out - Other   C A C A A A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474895 12025051873-30939 06/25/2025 Credit Loan Package Documentation Application / Processing Loan Package Documentation 1003/Declarations:  D. 1. Have you or will you be applying for a mortgage loan on another property (not the property securing this loan) on or before closing this transaction that is not disclosed on this loan application? was entered Yes.  Unable to determine qualification without this information. Borrower: XX 1003 section 5a. D.1. indicates the borrower has additional mortgages in process that are not disclosed on 1003.       Reviewer Comment (2025-07-14): Corrected 1003 received in trailing docs


Buyer Comment (2025-07-10): summary


Reviewer Comment (2025-07-09): Provide verification that the updated 1003 was provided to the borrower for digital signature.


Buyer Comment (2025-07-07): summary


Buyer Comment (2025-07-07): 1003
 07/14/2025     1 C A C A C A C A C A xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474896 12025051873-2839 06/25/2025 Credit Asset Asset Documentation Asset Missing Document: Gift Letter not provided   Gift letter not provided $XX       Reviewer Comment (2025-07-14): Received dated gift letter


Buyer Comment (2025-07-11): gift letter


Reviewer Comment (2025-07-07): Gift letter is required to be dated.


Buyer Comment (2025-07-02): gift letter
 07/14/2025     1 C A C A C A C A C A xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474897 12025051873-29640 06/25/2025 Credit Asset Asset Documentation Asset Asset documentation requirements not met.   Gift letter not provided XX       Reviewer Comment (2025-07-14): Received dated gift letter


Buyer Comment (2025-07-11): see attached gift letter


Reviewer Comment (2025-07-07): Gift letter is required to be dated.


Buyer Comment (2025-07-02): see attached gift letter
 07/14/2025     1 C A C A C A C A C A xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474898 12025051873-29639 06/25/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   Verification of employment not provided in file for co-borrower wage income. Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   SitusAMC

SitusAMC

SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-14): Waived with compensating factors per lender direction they are accepting VVOE provided.


Buyer Comment (2025-07-11): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-09): VVOE does not verify the borrower is still/currently employed and it is dated more than 10 days from Note date.


Buyer Comment (2025-07-07): VVOE
     07/14/2025 2 C B C B C B C B C B xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474899 12025051873-29644 06/25/2025 Credit Income / Employment Income Documentation Income / Employment The verification of employment is required and was not found in file. Borrower: XX // Employment Type: Employment / Income Type: Wages / Start Date: 08/XX/2019 Verification of employment not provided in file for co-borrower wage income. Borrower has been employed in the same industry for more than 5 years.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The representative FICO score exceeds the guideline minimum by at least 40 points.		   SitusAMC

SitusAMC

SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-14): Waived with compensating factors per lender direction they are accepting VVOE provided.


Buyer Comment (2025-07-11): Lender accepts.  Please waive with available compensating factors


Reviewer Comment (2025-07-09): VVOE does not verify the borrower is still/currently employed and it is dated more than 10 days from Note date.


Buyer Comment (2025-07-07): see attached VVOE
     07/14/2025 2 C B C B C B C B C B xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474900 12025051873-34957 06/25/2025 Compliance Compliance Federal Compliance TRID Defect TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-12,110.00 exceeds tolerance of $-15,570.00. Insufficient or no cure was provided to the borrower. (9300) Lender Credits reduced in final closing disclosure. No Valid change circumstance in file.       Reviewer Comment (2025-07-10): SitusAMC received COC dated 06/05.


Buyer Comment (2025-07-08): Please see attached COC and CD
 07/10/2025     1 C A C A C A C A C A xx CA Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474902 12025051873-23086 06/25/2025 Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower. Documented qualifying Assets for Closing of  $197,755.53 is less than Cash From Borrower $385,379.00. Available for Closing is insufficient to cover Cash from Borrower.  The file is missing the gift letter to verify donor's information.       Reviewer Comment (2025-07-14): Dated gift letter received, reflecting sufficient assets for transaction


Buyer Comment (2025-07-11): see attached gift letter


Reviewer Comment (2025-07-07): Gift letter is required to be dated.


Buyer Comment (2025-07-02): see attached gift letter
 07/14/2025     1 C A C A C A C A C A xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474903 12025051873-4264 06/25/2025 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Calculated PITIA months reserves of 0.00 is less than Guideline PITIA months reserves of 6.00. Available for reserves is insufficient.  The file is missing the gift letter to verify donor's information.       Reviewer Comment (2025-07-14): Dated gift letter received, reflecting sufficient assets for transaction


Buyer Comment (2025-07-11): see attached gift letter


Reviewer Comment (2025-07-07): Gift letter is required to be dated.


Buyer Comment (2025-07-02): see attached gift letter
 07/14/2025     1 C A C A C A C A C A xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051873 XX XX XX   34474904 12025051873-28648 06/25/2025 Credit Missing Document General Missing Document Missing Document: Donor Check not provided           Reviewer Comment (2025-07-07): clear


Buyer Comment (2025-07-02): see attached gift letter


Reviewer Comment (2025-06-30): Provide copy of gift letter.


Buyer Comment (2025-06-26): wire
 07/07/2025     1 C A C A C A C A C A xx CA Primary Purchase   C B C B C A A A Exempt from ATR Exempt from ATR No
12025051992 XX XX XX   34474906 12025051992-3831 06/24/2025 Credit Credit Miscellaneous Guideline Credit Exception:   CPA to confirm that they have no association/affiliation with the borrowers and/or the borrowers business.       Reviewer Comment (2025-06-30): clear


Buyer Comment (2025-06-26): cpa letter
 06/30/2025     1 C A C A C A C A C A xx TX Investment Purchase   C A C A A A A A Exempt from ATR N/A No
12025050955 XX XX XX   34474919 12025050955-5404 06/27/2025 Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: Borrower: XX Third Party Verification The file is missing third party verification for XX Tax Services.       Reviewer Comment (2025-07-16): Received PITIN evidence.


Buyer Comment (2025-07-14): CTEC


Reviewer Comment (2025-07-11): Please provide evidence of PTIN license for individual who completed third party verification letters.


Buyer Comment (2025-07-09): cpa letter
 07/16/2025     1 C A C A C A C A C A xx CA Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025050955 XX XX XX   34474921 12025050955-3831 06/27/2025 Credit Credit Miscellaneous Guideline Credit Exception:   The Non-Owner Occupancy Declaration is incomplete as Section 4A is missing the principal residence address.       Reviewer Comment (2025-07-11): Received


Buyer Comment (2025-07-09): Non-Owner
 07/11/2025     1 C A C A C A C A C A xx CA Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025050955 XX XX XX   34474922 12025050955-3831 06/27/2025 Credit Credit Miscellaneous Guideline Credit Exception:   The file is missing the final HUD-1. Copy in file is an estimate.       Reviewer Comment (2025-07-16): Received final closing statement


Buyer Comment (2025-07-14): Final
 07/16/2025     1 C A C A C A C A C A xx CA Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025050955 XX XX XX   34474923 12025050955-3831 06/27/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception to proceed with a duplex that has an ADU. Borrower has verified disposable income of at least $2500.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Documentation Type: 12mo Bank Statement
Disposable Income: $10,845.80

Reserves: 36.99
Guideline Requirement: 3.00

DTI: 34.27752%
Guideline Maximum DTI: 50.00000%

Guidelines Representative FICO: 700
Representative FICO: 802		 Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC		 Reviewer Comment (2025-06-27): Waived with compensating factors per lender exception approval at origination.


Reviewer Comment (2025-06-27): Will be waived upon receipt of the approval for a duplex with ADU from the county is received. Required per lender exception. per lender exception.
     06/27/2025 2 B B B B B B B B B B xx CA Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025050955 XX XX XX   34474924 12025050955-25838 06/27/2025 Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. Address: XX Insurance Verification, Statement The file is missing mortgage statement, insurance and tax verifications for the XX property.       Reviewer Comment (2025-07-16): Received


Buyer Comment (2025-07-14): tax cert


Buyer Comment (2025-07-14): Ins dec page


Buyer Comment (2025-07-14): mtg statement
 07/16/2025     1 C A C A C A C A C A xx CA Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025050955 XX XX XX   34474925 12025050955-29639 06/27/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   The file is missing third party income verification for XX       Reviewer Comment (2025-07-16): Evidence of PITIN and missing REO docs received in trailing docs.


Buyer Comment (2025-07-14): see attached


Reviewer Comment (2025-07-11): Please provide evidence of PTIN license for individual who completed third party verification letters.


Buyer Comment (2025-07-09): see attached
 07/16/2025     1 C A C A C A C A C A xx CA Investment Purchase   C B C B A A A A Exempt from ATR N/A No
12025051453 XX XX XX   34474929 12025051453-6459 06/26/2025 Credit Credit Credit Eligibility Credit There are red flags on the fraud report that have not been addressed Credit Report: Original // Borrower: XX There are red flags on the fraud report that have not been addressed.       Reviewer Comment (2025-07-02): clear


Buyer Comment (2025-07-01): Please find initial & final fraud guard attached. Thank you.
 07/02/2025     1 C A C A C A C A C A xx FL Primary Refinance - Rate/Term   C A C A A A A A Exempt from ATR Exempt from ATR No
12025032287 XX XX XX   34474931 12025032287-34957 06/30/2025 Compliance Compliance Federal Compliance TRID Defect TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-5,005.00 exceeds tolerance of $-7,865.00. Insufficient or no cure was provided to the borrower. (9300) Changed Circumstance already provided dated 06/XX/2025 #XX for Lender Credit       Reviewer Comment (2025-07-08): SitusAMC received a valid COC.


Buyer Comment (2025-07-03): 07/03-Please see attached Rate Lock. The 06/xx COC form shows that the CDFI was removed, resulting in the lender decrease


Reviewer Comment (2025-07-03): SitusAMC received COC dated 06/XX/2024. But is does not give sufficient information on why the lender credit decreased. Please provide information as to what changed circumstance occurred (as defined under 1026.19(e)(4)(A)-(F) that resulted in the pricing changed. Provide additional information to support a pricing change for the lender credit decrease or cure would be due.


Buyer Comment (2025-07-02): Please see the attached COC, CD, Lock Confirmation and EOR


Reviewer Comment (2025-07-02): SitusAMC received rebuttal comment that cure was provided on final CD however, there is not cure on CD. The lender credit was decreased from $7865 (baseline) to $5005 on CD dated 06/13. The COC dated 06/12 in file does not have sufficient information as to why lender credit was decreased. Please provide more information to validate the change or cure would be due to borrower.


Buyer Comment (2025-07-01): 07/01-Please see attached Final CD reflecting Section J cure-no additional cure required
 07/08/2025     1 C A C A C A C A C A xx TX Primary Purchase Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD C A C A C A A A Exempt from ATR Exempt from ATR No
12025032287 XX XX XX   34474934 12025032287-3831 06/30/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Please provide evidence that the CPA has no affiliation with the borrower or the business.       Reviewer Comment (2025-07-08): Cleared.


Reviewer Comment (2025-07-07): The verbiage states no contractual  relationship. It does not verify no personal affiliation between the 2 parties.


Buyer Comment (2025-07-02): Please see attached referencing the following section of the CPA letter provided during initial upload stating no relationship
 07/08/2025     1 C A C A C A C A C A xx TX Primary Purchase   C A C A C A A A Exempt from ATR Exempt from ATR No
12025060359 XX XX XX   34474956 12025060359-3831 07/02/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Lender approved exception for borrowers (married) living rent-free with Borrower 2's mother since 02/XX/2024. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has verified disposable income of at least $2500.00.		 Reserves: 26.41
Guideline Requirement: 6.00

Documentation Type: 12mo Bank Statement
Disposable Income: $11,856.22		 Originator Pre-Close,SitusAMC

Originator Pre-Close,SitusAMC		 Reviewer Comment (2025-07-02): Waived with compensating factors per lender exception approval at origination.
     07/02/2025 2 B B B B B B B B B B xx CA Primary Purchase   B B B B A A A A Exempt from ATR Exempt from ATR No
12025050377 XX XX XX   34474959 12025050377-5404 07/02/2025 Credit Income / Employment Income Documentation Income / Employment Income Docs Missing: Borrower: XX Third Party Verification The file is missing the lease agreement to verify the rental income.  Also the file is missing third party verification of employment within (20) business days of the Note date.       Reviewer Comment (2025-07-10): Received third party verification and lease agreement for additional REO.


Buyer Comment (2025-07-08): SOS


Buyer Comment (2025-07-08): Final VVOE


Buyer Comment (2025-07-08): lease
 07/10/2025     1 C A C A C A C A C A xx FL Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025050377 XX XX XX   34474960 12025050377-3831 07/02/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Please provide evidence that the CPA has no affiliation with the borrower or the business. Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.		   SitusAMC

SitusAMC

SitusAMC

SitusAMC		 Reviewer Comment (2025-07-16): Waived with compensating factors per lender request.


Buyer Comment (2025-07-14): yes please waive due to post-dated


Reviewer Comment (2025-07-14): Document provided is dated post-consummation.  Please confirm that you are asking for this to be waived, as there is comments asking to waive and then comments stating CPA letter provided.


Buyer Comment (2025-07-14): revised cpa letter


Buyer Comment (2025-07-10): Lender accepts.  Please waive with available compensating factors
     07/16/2025 2 C B C B C B C B C B xx FL Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025050377 XX XX XX   34474961 12025050377-29639 07/02/2025 Credit Income / Employment Income Documentation Income / Employment Income documentation requirements not met.   The file is missing the lease agreement to verify the rental income.  Also the file is missing third party verification of employment within (20) business days of the Note date.       Reviewer Comment (2025-07-10): Received third party verification and lease agreement for additional REO.


Buyer Comment (2025-07-08): see attached docs
 07/10/2025     1 C A C A C A C A C A xx FL Primary Purchase   C B C B A A A A Exempt from ATR Exempt from ATR No
12025051221 XX XX XX   34474964 12025051221-25838 07/03/2025 Credit Income / Employment Income Documentation Missing Document  REO Documents are missing. Address: 1XX
Statement
Statement		 Mortgage statements are missing for mentioned properties address.       Reviewer Comment (2025-07-16): All required REO documents received


Buyer Comment (2025-07-14): tax XX


Buyer Comment (2025-07-14): XX


Buyer Comment (2025-07-14): XXVOM


Buyer Comment (2025-07-14): XX was purchased after our note date


Buyer Comment (2025-07-14): XX was purchased after our note date.


Reviewer Comment (2025-07-11):XXproeprty is cleared. We need documentation dated prior to closing for the remaining properties.


Buyer Comment (2025-07-09): XX loan has not closed yet


Buyer Comment (2025-07-09): XX


Buyer Comment (2025-07-09): XX


Buyer Comment (2025-07-09): XX
 07/16/2025     1 C A C A C A C A C A xx FL Investment Purchase   C A C A A A A A Exempt from ATR N/A No
12025052369 XX XX XX   34475000 12025052369-4433 07/08/2025 Compliance Compliance Federal Compliance TRID Defect TRID Final Closing Disclosure Will Not Have Escrow -  Reason TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on 06/XX/2025 incorrectly disclosed whether the loan will have an escrow account. (Final/XX/17/2025) Reason to not have escrow box is unchecked on final closing disclosure.       Reviewer Comment (2025-07-17): SitusAMC received Letter of Explanation & Corrected Closing Disclosure.


Buyer Comment (2025-07-16): PFA LOE


Reviewer Comment (2025-07-15): Situsamc Received Corrected PCCD ; however, LOE not received. Please provide LOE showing the changes made on PCCD.


Buyer Comment (2025-07-14): PFA updated PC-CD, and we already have Impound Auth Sign form


Reviewer Comment (2025-07-11): SitusAMC received CD dated 6/XX/2025 with the correction. However, we would require correction to be made on Post CD along with LOX in order to cure the exception.


Buyer Comment (2025-07-11): PFA Impound Auth form signed


Buyer Comment (2025-07-10): Please see attached PC-CD, with Reason
   07/17/2025   2 C B C B C B C B C B xx FL Primary Refinance - Cash-out - Other Letter of Explanation & Corrected Closing Disclosure C B C A C B A A Exempt from ATR Exempt from ATR No
12025052369 XX XX XX   34475001 12025052369-3831 07/08/2025 Credit Credit Miscellaneous Guideline Credit Exception:   Provide evidence the CPA is duly licensed.       Reviewer Comment (2025-07-14): Received evidence CPA license (CTEC)


Buyer Comment (2025-07-10): CTEC
 07/14/2025     1 C A C A C A C A C A xx FL Primary Refinance - Cash-out - Other   C B C A C B A A Exempt from ATR Exempt from ATR No
12025050600 XX XX XX   34475028 12025050600-7038 07/14/2025 Compliance Compliance Federal Compliance TRID Defect TRID Initial Closing Disclosure Timing without Waiver TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. (Initial/XX/24/2025) Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.       Reviewer Comment (2025-07-17): SitusAMC received signed CD dated 06/XX/2025


Buyer Comment (2025-07-16): Please see attached signed CD dated 06/24


Reviewer Comment (2025-07-16): SitusAMC received document, however it doesn't provide information when the borrower received the CD.  Please provide the CD issued to borrower 3 days prior to consummation for review.


Buyer Comment (2025-07-15): Please see attached audit history of CD dated 06/24
 07/17/2025     1 C A C A C A C A C A xx TX Primary Purchase No Defined Cure C A A A C A A A Exempt from ATR Exempt from ATR No