EX-99.2 12 ea025949101_ex99-2sch4.htm SCHEDULE 4 - LOAN LEVEL EXCEPTION REPORT

Exhibit 99.2 Schedule 4

 

ASF Loan Number Infinity Loan ID Loan Number Loan Number 2 Borrower Name State QM/ATR Status Initial Overall Loan Grade Final Overall Grade Final Credit Grade Final Property Grade Final Compliance Grade Material (level 3) TRID exception? Material (level 3) Non-TRID exception? Active Material Exceptions Active Non Material Exceptions Satisfied Exceptions Waived Exceptions Compensating Factors Property Type Note Date LTV CLTV Occupancy Purpose Credit Score Brwr 1 Yrs in Property Brwr 1 Occupation Brwr 1 Yrs on Job Total Monthly Income Mortgage History Cash Out Amount DTI FTHB Flag Loan Doc Type Loan Status Review Date
214329393 XX XX   XX Colorado Non-QM/Compliant 4 2 2 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.240% Allowed 8.130% Overby +0.110%

This loan is compliant with regulation 1026.35.

*** (CURED) Missing Required Disclosures - EV C
COMMENT:   Appraisal reflects property in flood zone area (Zone AE) which does not matches with flood zone of x500 on flood cert. The flood cert does note a LOMC from 12/XX/2021, however, the flood map in the file dated 12/3/2024 indicates the property is located in zone AE. Require flood insurance which is not present in the file.

Not Resolved 3/XX/2025.  Received an updated appraisal indicating property is not in a flood zone but also received an updated flood certification indicating it is in a flood zone.

Not Resolved 05/XX/2025: Received updated flood certification indicating it is in a flood zone, require updated appraisal indicating the property in food zone.

Cured 05/XX/2025: Received evidence of the flood insurance post-closing.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide bank statements of the xx business account in the amount of $25,000.00 & xx in the amount of $11,000.00, as it is missing in the file. Transaction is a purchase residence. Reserves required per guidelines is $11,660.57. Total reserves verified the amount of $894.66. Provide satisfactory evidence of reserves covering $11,660.57.

03/XX/2025: Resolved: Received email explanation and bank statement in file, resolves the condition.		     PUD 12/XX/2024 90.000% 90.000% Primary Purchase 720   Owner and Director of operations 9 $21,462.22 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   27.305% No Alternative QC Complete 05/01/2025
214464562 XX XX   XX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 80.000% 80.000% Primary Purchase 745   Owner 5.33 $14,138.21 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   43.647% Yes Alternative QC Complete 06/19/2025
214561334 XX XX   XX New York Non-QM/Compliant 1 1 1 1 1 No No           High Rise Condo (>=9 Stories) 05/XX/2025 70.000% 70.000% Primary Cash Out 704 20 50% Partner and 100%Partner  11.5 $10,259.93 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $500,615.21 49.747%   Alternative QC Complete 09/16/2025
214649188 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD 05/XX/2025 33.846% 33.846% Primary Purchase 740   Owner 2.5 $6,426.46 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   43.804% No Alternative QC Complete 06/13/2025
214650988 XX XX   XX Wisconsin Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Mortgage Riders incomplete / inaccurate - EV R
COMMENT:   Missing PUD Rider.   Resolved 06/XX/2025 - Received PUD Rider, condition resolved.		     PUD 03/XX/2025 76.531% 76.531% Primary Refinance 710 4  Chief Revenue Officer 3.92 $39,569.97 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   47.210%   Full Documentation QC Complete 05/01/2025
214671398 XX XX   XX New Jersey Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Required FICO for r/t refinance on investment is 720 borrower has 701.

A copy of an exception approval letter is available in the loan file.		 DTI: 25.52% DTI is less than the maximum guideline requirement of 50.00%.

Residual Income : $31,928.68 monthly.		 PUD 05/XX/2025 80.000% 80.000% Investor Refinance 701   Owner 11.33 $42,869.28 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   25.521%   Alternative QC Complete 06/19/2025
214673881 XX XX   XX New Jersey Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Most recent 12 months bank statements show 7 NSF, which exceeds maximum of 6.

A copy of an exception approval letter is available in the loan file.		 FICO: 712 FICO exceeds the guideline requirement of 660.

Residual Income : $304,922.74 monthly.

DTI: 6.32% DTI is less than the maximum guideline requirement of 50.00%.		 Single Family 05/XX/2025 70.000% 70.000% Investor Refinance 712   Owner 5.58 $325,511.68 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   6.325%   Alternative QC Complete 06/19/2025
214761124 XX XX   XX Washington Not Covered/Exempt 1 1 1 1 1 No No           Single Family 04/XX/2025 14.250% 14.250% Investor Refinance 779         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		       Alternative QC Complete 09/15/2025
214796070 XX XX   XX Virginia Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount of title insurance of XX on the Title Commitment is less than the loan amount $XX.



Resolved 07/XX/2025 - Received title endorsement for $xx, condition resolved.		     Single Family 06/XX/2025 74.334% 74.334% Primary Purchase 796   owner 13.5 $11,063.31 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   22.929% No Alternative QC Complete 07/08/2025
214801854 XX XX   XX Massachusetts Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Reverification within 10 days is missing - EV R
COMMENT:   Provide verbal VOE for borrower (XX) from (XX) dated within 10 business days of closing. Available verbal VOE not within 10 business days of closing.


Resolved on 06/XX/2025 : Received Verification of employment document , condition resolved.		     3 Family 04/XX/2025 70.000% 70.000% Investor Cash Out 773   Sales 14.08 $19,500.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $82,305.72 43.708%   Full Documentation QC Complete 05/23/2025
214818163 XX XX   XX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 85.000% 85.000% Primary Purchase 768   Owner 2.83 $27,967.81 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   19.123% Yes Alternative QC Complete 06/19/2025
214836678 XX XX   XX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family 04/XX/2025 75.000% 75.000% Investor Purchase 681         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 09/15/2025
214836843 XX XX   XX Florida Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Hazard Insurance Coverage less than Loan Amount - EV R
COMMENT:   Dwelling amount $XX is not sufficient to cover loan amount $XX, provide a copy of replacement cost estimator is being covered by the dwelling.

Resolved 06/XX/2025 - Received RCE document covered with 100% replacement cost on dwelling, condition resolved.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide Guaranty agreement, as it is missing.

06/XX/2025 Resolved: Resolved as a guaranty is not required when the borrower signed the promissory note as an individual.		     Single Family 05/XX/2025 80.000% 80.000% Investor Purchase 792   Vice President Leveraged Finance Sales 6.83 $62,666.85 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   33.054% No Full Documentation QC Complete 06/09/2025
214854127 XX XX   XX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of condo questionnaire, as it is missing.


Resolved 07/XX/2025 - Received condo questionnaire, condition resolved.		     Low Rise Condo  (1-4 Stories) 04/XX/2025 80.000% 80.000% Secondary Purchase 763   Sargeant 12.66 $8,199.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   30.712% No Full Documentation QC Complete 06/24/2025
214857039 XX XX   XX Oregon Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Missing real estate appraisers error and omissions insurance policy.

Resolved: Condition has been resolved as E&O policy is not required.		     PUD 05/XX/2025 80.000% 80.000% Secondary Purchase 720   Founder/CEO and Co-Founder  7 $173,817.25 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   4.941% No Alternative QC Complete 06/13/2025
215017468 XX XX   XX Florida Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a proof of document for Primary residence address XX


Resolved 06/XX/2025 - Received document proofs for primary residence property, condition resolved.		     Single Family 05/XX/2025 75.000% 75.000% Investor Purchase 775   Sr Director-Americas Engineering 35.08 $23,337.17 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   49.298% No Full Documentation QC Complete 06/09/2025
215028101 XX XX   XX Tennessee Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Loan does not conform to program guidelines - EV R
COMMENT:   Rate term refinance loan does not meet the guidelines for Payoff of draws taken in the past 12 months on a HELOC are counted in the cash in the maximum cash in hand amount.


Resolved 06/XX/2025 - Received documentation proofs for the rate and term refinance loan payoff in 12 months, condition resolved.		     PUD 05/XX/2025 70.000% 70.000% Primary Refinance 787 2.08 SVP 1.25 $16,308.34 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   30.209%   Full Documentation QC Complete 06/24/2025
215049966 XX XX   XX Virginia Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   A CPA-prepared letter is required to verify the borrower's percentage of ownership in the business entity and expense ratio.


Resolved 06/XX/2025 -  Received CPA letter, condition resolved.		     PUD 05/XX/2025 75.000% 75.000% Investor Purchase 774   Owner 3 $37,940.34 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   40.864% No Alternative QC Complete 06/12/2025
215070855 XX XX   XX North Carolina Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 64.706% 64.706% Primary Purchase 778   President (1120S 80%) 3 $221,233.68 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   5.070% No Alternative QC Complete 06/19/2025
215071028 XX XX   XX California Non-QM/Compliant 1 1 1 1 1 No No           PUD 05/XX/2025 75.000% 75.000% Primary Cash Out 731 8.25 CEO 15.33 $84,211.78 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $153,538.73 12.729%   Alternative QC Complete 06/19/2025
215072893 XX XX   XX Florida Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Assets Verification - EV R
COMMENT:   Missing bank statements for the stated asset on application of borrower (XX $232,325.36 &XX  $96,172.58).

06/XX/2025 Resolved: The condition has been resolved as the reserve requirement has been fulfilled and the statements are not required.		     Mid Rise Condo  (5-8 Stories) 05/XX/2025 62.025% 62.025% Investor Purchase 727    President 16.33 $67,335.79 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   20.526% No Full Documentation QC Complete 06/05/2025
215073941 XX XX   XX Georgia Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.962% Allowed 9.160% Overby +0.802%

This loan is compliant with regulation 1026.35.

*** (CURED) VOM or VOR missing/required - EV R
COMMENT:   Provide a copy of the rent verification for XX, as it is missing.

06/XX/2025 Resolved : The copy of credit supplemental resolves the condition.		     Single Family 05/XX/2025 89.990% 89.990% Primary Purchase 747   Youtuber 5.33 $49,788.93 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   26.257% Yes Alternative QC Complete 06/09/2025
215075060 XX XX   XX New Hampshire Not Covered/Exempt 1 1 1 1 1 No No           4 Family 05/XX/2025 80.000% 80.000% Investor Purchase 763   Teacher 12.75 $7,744.43 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   30.034% No Full Documentation QC Complete 06/19/2025
215077744 XX XX   XX Florida Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide a copy of appraisal E&O policy as it is missing.


Resolved : Resolved as appraisal E&O is not required.		     Single Family 05/XX/2025 48.000% 48.000% Investor Refinance 784   Sr Prin Eng-Software En 42.92 $14,641.67 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   39.697%   Full Documentation QC Complete 06/20/2025
215077900 XX XX   XX Alabama Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 05/XX/2025 80.000% 80.000% Investor Purchase 787   Director Sales 0.42 $18,750.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   16.445% No Full Documentation QC Complete 07/08/2025
215083908 XX XX   XX Massachusetts Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.289% Allowed 8.240% Overby +1.049%

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   (MA 209 CMR 32.35) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the Code of Massachusetts Regulations.

MA 209 CMR 32.35 Higher-Priced Mortgage Loan Test: Charged 9.289% Allowed 8.240% Overby +1.049%

This loan is compliant with regulation (MA 209 CMR 32.35)

*** (CURED) Reverification within 10 days is missing - EV R
COMMENT:   Provide a copy of verification of employment for borrower xx  as it is missing.


Resolved 07/XX/2025 - Received VVOE, condition resolved.		     Low Rise Condo  (1-4 Stories) 05/XX/2025 90.000% 90.000% Primary Purchase 758   Field Engineer 3.66 $8,083.31 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   43.009% Yes Full Documentation QC Complete 06/09/2025
215084849 XX XX   XX Connecticut Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 80.000% 80.000% Primary Purchase 800   Owner 8.66 $21,001.18 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   18.740% Yes Alternative QC Complete 06/20/2025
215086786 XX XX   XX Nevada Non-QM/Compliant 1 1 1 1 1 No No           PUD 05/XX/2025 80.000% 80.000% Secondary Purchase 791   Store Manager 16.66 $22,326.74 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   25.264% No Full Documentation QC Complete 06/13/2025
215089921 XX XX   XX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           2 Family 05/XX/2025 75.000% 75.000% Investor Purchase 738         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/12/2025
215091299 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family 05/XX/2025 85.000% 85.000% Investor Purchase 761   Owner 5.42 $18,041.01 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   27.237% No Alternative QC Complete 06/13/2025
215101312 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 59.840% 59.840% Primary Cash Out 803 27 EVP Chief Canine Officer 13.33 $66,883.46 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:Credit Report		 $514,063.58 5.303%   Alternative QC Complete 07/08/2025
215102724 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family 05/XX/2025 70.000% 70.000% Investor Purchase 677         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/19/2025
215105586 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD 05/XX/2025 52.941% 52.941% Investor Purchase 785         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/13/2025
215108580 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD 06/XX/2025 85.000% 85.000% Investor Purchase 748   Owner 15.83 $47,565.11 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   16.807% No Alternative QC Complete 07/22/2025
215111634 XX XX   XX Maryland Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 05/XX/2025 75.000% 75.000% Investor Purchase 766   Owner 10.08 $49,729.45 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   41.575% No Alternative QC Complete 06/19/2025
215116971 XX XX   XX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Reverification within 10 days is missing - EV R
COMMENT:   Provide a copy of Verification of Employment(VVOE) with 30 days of closing date.


07/XX/2025 Resolved: Resolved as re-verification is for a W2 job and not self-employed individuals.		     PUD 05/XX/2025 75.000% 75.000% Primary Purchase 723   Property Manager 15 $13,943.96 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   49.009% No Alternative QC Complete 09/15/2025
215120288 XX XX   XX Michigan Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of proof document of Mortgage statement, taxes and insurance for address XX


Resolved 06/XX/2025 - Received mortgage statement, condition resolved.		     2 Family 05/XX/2025 73.295% 73.295% Investor Cash Out 732   Owner 2.16 $11,419.29 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $152,240.02 29.386%   Full Documentation QC Complete 06/12/2025
215124165 XX XX   XX North Carolina Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.603% Allowed 8.430% Overby +0.173%.

This loan is compliant with regulation 1026.35

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Verbal verification of employment is missing from the loan Package for employment @ xx


Resolved 07/XX/2025 - the copy of VVOE available in the loan file resolves the condition.		     Single Family 06/XX/2025 80.000% 80.000% Primary Cash Out 701 24 Title Physician 15.66 $21,100.62 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $63,567.38 34.669%   Alternative QC Complete 07/08/2025
215124785 XX XX   XX North Carolina Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Letter of explanation for addresses reported in the credit report - EV R
COMMENT:   LOE required for address reflected on credit report - clarify borrower’s association with property.
XX

Resolved 08/XX/2025 - Received client response as the borrower has been at current address for 24 years and no LOX required, condition resolved.		     High Rise Condo (>=9 Stories) 05/XX/2025 75.000% 75.000% Investor Purchase 796         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   40.085% No Full Documentation QC Complete 09/15/2025
215134487 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 75.000% 75.000% Secondary Purchase 801   Vice President - Tax Operations 19.25 $51,485.64 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   36.461% No Full Documentation QC Complete 07/18/2025
215145376 XX XX   XX Georgia Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Cash Out 728         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		 $89,554.24     Alternative QC Complete 08/01/2025
215146788 XX XX   XX Virginia Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 775   Owner 5.92 $44,156.30 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   15.984% No Alternative QC Complete 06/19/2025
215148974 XX XX   XX Tennessee Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 75.000% 75.000% Primary Cash Out 682 3.75 Worship Pastor 8.25 $7,803.07 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:		 $108,849.98 44.685%   Full Documentation QC Complete 07/07/2025
215149022 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The proposed insured amount is not reflected on the title report. Provide a title supplement or updated title report indicating the correct insured amount to satisfy title insurance requirements.


Resolved 07/7/2025 - Received final title policy, condition resolved.		     Single Family 05/XX/2025 80.000% 80.000% Investor Purchase 750   Supvy imigartion SVCS off 22.16 $17,031.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   39.176% No Full Documentation QC Complete 06/20/2025
215149238 XX XX   XX Maryland Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 57.851% 57.851% Primary Cash Out 692 8.5 Owner 11.33 $47,172.90 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $60,384.43 10.974%   Alternative QC Complete 06/20/2025
215150491 XX XX   XX New Jersey Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   FTHB -  **Borrower does not meet the guidelines for First Time Home buyer** Rule/Guidelines require the Borrower to have had a 12 month consistent housing payment history within the past 3 years.

A copy of an exception approval letter is available in the loan file.		 FICO: 791 FICO exceeds the guideline requirement of 700.

Residual Income : $5,748.63 monthly

DTI: 34.30% DTI is less than the maximum guideline requirement of 50.00%.
 Low Rise Condo  (1-4 Stories) 06/XX/2025 80.000% 80.000% Primary Purchase 791   Regional Training Manager 1.75 $8,750.00 Mos Reviewed:
Times 1X30:
Times 1X60:
Times 1X90:
Currently Delinquent? :
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:		   34.301% Yes Full Documentation QC Complete 07/03/2025
215177502 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX.


Resolved 07/XX/2025 - Received final title policy, condition resolved.		     2 Family 05/XX/2025 80.000% 80.000% Investor Purchase 726   Owner 2.67 $69,588.42 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   36.936% No Alternative QC Complete 07/07/2025
215177908 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 06/XX/2025 75.000% 75.000% Secondary Purchase 765   CEO 12.08 $109,394.13 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   15.790% No Full Documentation QC Complete 07/07/2025
215180902 XX XX   XX Arizona Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Missing Appraiser'S Errors And Omissions Policy

Resolved : Condition has been resolved as the E&O policy is not required.		     Single Family 05/XX/2025 73.536% 73.536% Primary Refinance 760 0.25 Owner/Retail 5.33 $128,175.20 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   15.633%   Alternative QC Complete 06/13/2025
215186099 XX XX   XX Minnesota Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 74.146% 74.146% Investor Cash Out 743   Owner/Construction 17.41 $1,776,836.17 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $294,612.37 1.597%   Alternative QC Complete 07/22/2025
215189242 XX XX   XX North Dakota Not Covered/Exempt 3 2 2 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide the settlement statement for the property located at XX as proof of sale.

Resolved 08/XX/2025 - Received proof for the sold properties, condition resolved.		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   More than $500,000 cash-out between two files in process. Other loan is #XX.

A copy of an exception approval letter is available in the loan file.		 FICO: 743 FICO exceeds the guideline requirement of 720.

DTI: 1.62% DTI is less than the maximum guideline requirement of 50.00%.

Residual Income: $1,748,010.08 monthly.		 Single Family 06/XX/2025 72.028% 72.028% Investor Cash Out 743   Owner/ Construction  17.41 $1,776,836.17 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $263,428.20 1.622%   Alternative QC Complete 09/15/2025
215193459 XX XX   XX New York Non-QM/Compliant 1 1 1 1 1 No No           PUD 06/XX/2025 76.923% 76.923% Primary Purchase 786       $0.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		     Yes Full Documentation QC Complete 07/18/2025
215196668 XX XX   XX Washington Non-QM/Compliant 1 1 1 1 1 No No           PUD 05/XX/2025 70.000% 70.000% Primary Cash Out 675 4 Manager 0.83 $11,599.99 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $95,000.81 44.656%   Full Documentation QC Complete 07/22/2025
215204348 XX XX   XX Indiana Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 738   Self Employed 3.05 $44,576.75 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   25.056% No Full Documentation QC Complete 07/07/2025
215206103 XX XX   XX Maryland Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 06/XX/2025 80.000% 80.000% Secondary Purchase 806   Owner 15.16 $23,183.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   45.839% No Full Documentation QC Complete 07/08/2025
215206269 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Cash Out 801   Owner 8.5 $64,868.18 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $138,322.79 19.924%   Alternative QC Complete 06/20/2025
215207739 XX XX   XX Oklahoma Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 726   Owner 22.08 $54,738.66 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   17.432% No Alternative QC Complete 07/21/2025
215224593 XX XX   XX Michigan Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1)  Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.668% Allowed 8.420% Overby +0.248%.

This loan is compliant with regulation 1026.35.		     PUD 06/XX/2025 70.000% 70.000% Primary Cash Out 675 5 Owner Operator 10.25 $15,860.31 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $181,879.13 30.996%   Alternative QC Complete 07/08/2025
215226499 XX XX   XX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Single Family 05/XX/2025 80.000% 80.000% Investor Purchase 798   Owner 10.08 $13,776.12 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   19.950% No Alternative QC Complete 06/20/2025
215238304 XX XX   XX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 66.297% 66.297% Primary Purchase 817         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Full Documentation QC Complete 07/07/2025
215249582 XX XX   XX Massachusetts Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide business bank statements of XX for the month ending 11/XX/2024 as it is missing.


Resolved 07/XX/2025 - Received bank statement for Nov - month, condition resolved.		     Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 801   Medical Biller 10.25 $15,555.89 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   41.369% No Alternative QC Complete 07/07/2025
215260431 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Purchase 797   Partner 5.83 $22,946.75 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   24.479% No Full Documentation QC Complete 07/21/2025
215267840 XX XX   XX South Dakota Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 68.966% 68.966% Investor Purchase 735         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:		     No Alternative QC Complete 07/21/2025
215268269 XX XX   XX Rhode Island Not Covered/Exempt 1 1 1 1 1 No No           4 Family 06/XX/2025 80.000% 80.000% Investor Purchase 807         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/21/2025
215333857 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX.


Resolved 08/XX/2025 - Received title final policy, condition resolved.		     PUD 06/XX/2025 80.000% 80.000% Investor Purchase 789   President 17.33 $34,564.95 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   39.816% No Full Documentation QC Complete 08/04/2025
215338476 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD 06/XX/2025 35.045% 35.045% Primary Purchase 787         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/22/2025
215340621 XX XX   XX Colorado Non-QM/Compliant 1 1 1 1 1 No No           Mid Rise Condo  (5-8 Stories) 07/XX/2025 75.000% 75.000% Secondary Purchase 757   CHILD SUPPORT QUALITY AND 10 $4,790.93 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   41.039% No Full Documentation QC Complete 08/01/2025
215362807 XX XX   XX Tennessee Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 14.737% 14.737% Primary Cash Out 754 2 PRESIDENT 3.5 $148,768.48 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:Credit Report		 $685,059.71 4.148%   Alternative QC Complete 08/04/2025
215395310 XX XX   XX California Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 774   Owner 7.66 $22,601.01 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   29.256% No Alternative QC Complete 08/01/2025
9704590547 XX XX   XX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 85.000% 85.000% Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/29/2025
9704920553 XX XX   XX New York Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Purchase 687   Owner 25.67 $1,006,341.37 Mos Reviewed:17
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   3.748% No Alternative QC Complete 06/18/2025
9705518851 XX XX   XX Michigan Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 85.000% 85.000% Primary Purchase 790   Construction Manager 1 $7,260.37 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   37.101% No Alternative QC Complete 07/01/2025
9706628261 XX XX   XX Tennessee Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Primary Purchase 773   CEO 8.41 $54,164.08 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   10.493% No Alternative QC Complete 07/08/2025
9707697422 XX XX   XX Arizona Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Purchase 755         Mos Reviewed:93
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/12/2025
9709409222 XX XX   XX California Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 54.085% 54.085% Investor Purchase 795   Owner 5.83 $36,301.02 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   16.354% No Alternative QC Complete 09/15/2025
9709778097 XX XX   XX Georgia Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Closing Protection Letter Missing - EV R
COMMENT:   Missing ATIMA from lender loss payee info on CPL.


Resolved 06/XX/2025 - Received CPL, condition resolved.		     Low Rise Condo  (1-4 Stories) 05/XX/2025 38.333% 38.333% Primary Purchase 775   Director 9.17 $12,083.34 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   30.929% No Full Documentation QC Complete 06/24/2025
9710429532 XX XX   XX Utah Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Purchase 777         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/18/2025
9711251331 XX XX   XX Connecticut Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 666   Principle Law LLC 13.75 $19,404.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   48.955% No Alternative QC Complete 07/15/2025
9711253097 XX XX   XX California Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX


Resolved 07/XX/2025 - Received title supplement report, condition resolved.		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Loan amount of $xx does not meet the guideline requirement of maximum loan amount of $2M with credit score of 720.

A copy of an exception approval letter is available in the loan file.		 LTV: 52.38% LTV is less than the guideline requirement of 80.00%.

DTI: 30.76% DTI is less than the maximum guideline requirement of 50.00%.





 PUD 06/XX/2025 52.381% 52.381% Primary Cash Out 720 1.75 CEO 10.08 $117,586.48 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $472,932.01 30.761%   Alternative QC Complete 07/02/2025
9712202002 XX XX   XX Arizona Not Covered/Exempt 3 2 2 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide a copy of Title supplement as it is missing in the file.

Resolved 06/XX/2025 - Received title report with insured amount $XX, condition resolved.

*** (CURED) Appraisal incomplete (missing map, layout, pages, etc) - EV R
COMMENT:   The loan file identifies the subject property as an investment refinance, but the appraisal report lists the occupancy status as 'Owner-Occupied.' Please provide an updated appraisal report with the correct occupancy status.


Resolved 07/XX/2025 - Received Updated appraisal report, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide real estate appraisers error and omissions insurance policy, as it is missing.


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Guides do not allow cashout with current VISA type C10 for investment property

A copy of an exception approval letter is available in the loan file.		 FICO: 786 FICO exceeds the guideline requirement of 720.

DTI: 32.78% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 47 months of available reserves are more than the guideline requirement of 6 months.
 Single Family 05/XX/2025 75.000% 75.000% Investor Cash Out 786   Managing Member 3.25 $26,351.08 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $108,903.14 32.788%   Alternative QC Complete 09/15/2025
9712471284 XX XX   XX Indiana Non-QM/Compliant 1 1 1 1 1 No No           PUD 08/XX/2025 80.000% 80.000% Secondary Cash Out 755   Owner 8.25 $143,191.78 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $423,510.35 4.785%   Alternative QC Complete 08/12/2025
9713718683 XX XX   XX Michigan Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.366% Allowed 8.430% Overby +0.936%

This loan is compliant with regulation 1026.35.		     Single Family 06/XX/2025 90.000% 90.000% Primary Purchase 782   Sales 2.75 $6,120.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   45.317% No Alternative QC Complete 06/17/2025
9713965565 XX XX   XX Oklahoma Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 09/15/2025
9714039550 XX XX   XX Tennessee Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.524% Allowed 8.250% Overby +1.274%.

This loan is compliant with regulation 1026.35.		     PUD 07/XX/2025 90.000% 90.000% Primary Purchase 734   Owner 2.08 $12,901.59 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   39.737% Yes Alternative QC Complete 08/13/2025
9714242493 XX XX   XX Tennessee Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Automated Appraisal Review Missing - EV R
COMMENT:   Provide a copy of Secondary valuation, as it is missing.



Resolved 06/XX/2025 - Received CDA, condition resolved.

*** (CURED) Missing Required Disclosures - EV R
COMMENT:   Missing real estate appraisers error and omissions insurance policy.


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		     PUD 06/XX/2025 90.000% 90.000% Primary Purchase 776   Owner 3.58 $74,080.30 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   30.322% No Alternative QC Complete 06/13/2025
9714915973 XX XX   XX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 710   Truck Driver 3 $13,551.77 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   31.618% Yes Alternative QC Complete 07/07/2025
9715862711 XX XX   XX Florida Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Settlement Service Provider List is Missing.


Resolved 06/XX/2025: Received Settlement Service Provider List dated 4/XX/2025 and exception is cleared.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Missing real estate appraisers error and omissions insurance policy.


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Exception that permits business funds to be spent 100% of time rather than 75% of the owners

A copy of an exception approval letter is available in the loan file.		 Reserves: The 13 months of available reserves are more than the guideline requirement of 6 months.

FICO: 728 FICO exceeds the guideline requirement of 720.

DTI: 22.01% DTI is less than the maximum guideline requirement of 50.00%.		 PUD 05/XX/2025 90.000% 90.000% Primary Purchase 728   AMBR 8.91 $81,623.00 Mos Reviewed:13
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   23.014% No Alternative QC Complete 06/13/2025
9716665584 XX XX   XX California Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   The borrower is a first-time home buyer who has been rent-free for the previous eight years, so an exception is required.

A copy of an exception approval letter is available in the loan file.		 FICO: 755 FICO exceeds the guideline requirement of 700.

Reserves: The 23 months of available reserves are more than the guideline requirement of 6 months.

Residual Income: $8,331.13 monthly.

 Low Rise Condo  (1-4 Stories) 07/XX/2025 85.000% 85.000% Primary Purchase 755   Attorney 0.91 $16,250.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   48.732% Yes Full Documentation QC Complete 09/15/2025
9717164330 XX XX   XX Pennsylvania Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX.


Resolved 06/XX/2025 - Received title report with insured amount, condition resolved.		     Low Rise Condo  (1-4 Stories) 05/XX/2025 79.911% 79.911% Investor Refinance 797         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		       Alternative QC Complete 06/11/2025
9717707062 XX XX   XX Kentucky Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.647% Allowed 8.290% Overby +0.357%

This loan is compliant with regulation 1026.35.		     Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 693   Owner 2.41 $10,144.64 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   34.912% No Alternative QC Complete 08/13/2025
9718064497 XX XX   XX Hawaii Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Closing Protection Letter Missing - EV R
COMMENT:   Provide CPL with ISAOA/ATIMA and updated lender loss payee address.


Resolved 06/XX/2025 - Received CPL with loss payee address, condition resolved.

*** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX


Resolved 06/XX/2025 - Received title report with coverage amount, condition resolved.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide updated Flood insurance policy with lender loss payee for Newrez, subject transaction loans and borrower names.


Resolved 06/XX/2025 - Received LOX from borrower, condition resolved.		     High Rise Condo (>=9 Stories) 05/XX/2025 70.000% 70.000% Investor Purchase 680   Partner 3.08 $20,103.06 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   40.928% No Full Documentation QC Complete 06/10/2025
9719607377 XX XX   XX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 85.000% 85.000% Primary Purchase 724   Pharmacist 23.08 $16,329.28 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   39.659% No Full Documentation QC Complete 07/31/2025
9719648389 XX XX   XX Florida Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.339% Allowed 8.330% Overby +0.009%.

This loan is compliant with regulation 1026.35.		     Single Family 07/XX/2025 85.000% 85.000% Primary Purchase 706   Owner 6.25 $36,865.68 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   6.417% Yes Alternative QC Complete 07/22/2025
9720107383 XX XX   XX Florida Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.539% Allowed 8.170% Overby +0.369%.

This loan is compliant with regulation 1026.35		     Single Family 07/XX/2025 90.000% 90.000% Primary Purchase 786   Owner 9.25 $9,354.08 Mos Reviewed:
Times 1X30:
Times 1X60:
Times 1X90:
Currently Delinquent? :
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:		   42.663% No Alternative QC Complete 07/30/2025
9721864123 XX XX   XX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount of title insurance of $XX on the Title Commitment is less than the loan amount $XX


Resolved 06/XX/2025 - Received title report with insured amount $XX, condition resolved.		     Single Family 05/XX/2025 80.000% 80.000% Primary Purchase 708   Owner 10.33 $12,214.36 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   45.571% No Alternative QC Complete 06/04/2025
9723156221 XX XX   XX Tennessee Non-QM/Compliant 1 1 1 1 1 No No           PUD 07/XX/2025 80.000% 80.000% Primary Purchase 714   Owner 6.08 $344,277.30 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   1.923% No Alternative QC Complete 07/16/2025
9723365046 XX XX   XX Oregon Not Covered/Exempt 1 1 1 1 1 No No           PUD 08/XX/2025 76.471% 76.471% Investor Refinance 737         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		       Alternative QC Complete 08/13/2025
9724951349 XX XX   XX Texas Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Quality of Appraisal Report Unacceptable - EV R
COMMENT:   Provide an updated appraisal report reflecting the property type as PUD, as the Deed of Trust includes a PUD rider.


Resolved 08/XX/2025 - Received updated appraisal report, condition resolved.		     Single Family 07/XX/2025 70.000% 70.000% Investor Cash Out 703   Owner 20.5 $44,569.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $96,303.24 30.714%   Alternative QC Complete 07/30/2025
9725361647 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           3 Family 07/XX/2025 85.000% 85.000% Investor Purchase 761   Devloper 4.25 $11,587.50 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   28.245% No Full Documentation QC Complete 07/30/2025
9725471628 XX XX   XX California Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   LTV of 82.88% exceeds the guideline requirement of max 80%.

A copy of an exception approval letter is available in the loan file.		 FICO: 715 FICO exceeds the guideline requirement of 700.

Residual Income : $30,911.84 monthly

DTI: 37.36% DTI is less than the maximum guideline requirement of 50.00%.
 PUD 07/XX/2025 82.860% 82.860% Primary Refinance 715 0.92 CEO 3.92 $49,347.31 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   37.359%   Alternative QC Complete 07/30/2025
9725773759 XX XX   XX Tennessee Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.315% Allowed 8.270% Overby +0.045%.

This loan is compliant with regulation 1026.35.		     Single Family 07/XX/2025 85.000% 85.000% Primary Purchase 741   Owner 12 $7,896.71 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   41.303% Yes Alternative QC Complete 07/29/2025
9725911615 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of Error & Omission insurance policy for the appraisal.


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		     Single Family 06/XX/2025 75.000% 75.000% Investor Purchase 720   CEO 10 $117,586.48 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   31.450% No Alternative QC Complete 09/16/2025
9726235071 XX XX   XX Connecticut Not Covered/Exempt 1 1 1 1 1 No No           2 Family 07/XX/2025 80.000% 80.000% Investor Purchase 751         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/30/2025
9726704001 XX XX   XX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Appraisal incomplete (missing map, layout, pages, etc) - EV R
COMMENT:   Provide a copy of Error and Omission policy, as it is missing


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		     3 Family 06/XX/2025 75.000% 75.000% Primary Purchase 774   Broker Associate 9.17 $27,266.89 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   43.611% Yes Alternative QC Complete 06/12/2025
9727271554 XX XX   XX Texas Non-QM/Compliant 4 2 2 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.931% Allowed 8.300% Overby +1.631%.

This loan is compliant with regulation 1026.35.		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   FTHB requirement for 12 months of housing payments

A copy of an exception approval letter is available in the loan file.		 DTI: 10.43% DTI is less than the maximum guideline requirement of 43.00%.

Residual Income : $44,657.82 monthly.

FICO: 777 FICO exceeds the guideline requirement of 660.


 Single Family 06/XX/2025 90.000% 90.000% Primary Purchase 777   Machine Installer 16.42 $49,861.97 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   10.437% Yes Alternative QC Complete 06/19/2025
9727567126 XX XX   XX Indiana Not Covered/Exempt 1 1 1 1 1 No No           2 Family 08/XX/2025 80.000% 80.000% Investor Purchase 739         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 08/13/2025
9728005712 XX XX   XX Georgia Not Covered/Exempt 1 1 1 1 1 No No           Single Family 08/XX/2025 80.000% 80.000% Investor Refinance 763         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		       Alternative QC Complete 08/13/2025
9728038630 XX XX   XX Oregon Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 69.739% 69.739% Investor Cash Out 714         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $224,962.08     Alternative QC Complete 09/15/2025
9728552911 XX XX   XX Georgia Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) VOM or VOR missing/required - EV R
COMMENT:   Missing VOR for property address XX with rent in the amount of $337.86.


Resolved 07/XX/2025 - Received rent free LOX, condition resolved.		     2 Family 07/XX/2025 65.000% 65.000% Investor Cash Out 694   Owner 19.83 $4,664.18 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Multiple Source Docs		 $109,801.45 41.849%   Full Documentation QC Complete 07/24/2025
9733260294 XX XX   XX Florida Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Excessive DTI - EV W
COMMENT:   Requesting exception for DTI exceeding 50%, Borrower DTI is 52.932%.

A copy of an exception approval letter is available in the loan file.		 FICO: 753 FICO exceeds the guideline requirement of 700.

Reserves: The 7 months of available reserves are more than the guideline requirement of 3 months.		 PUD 06/XX/2025 80.000% 80.000% Primary Cash Out 753 1.25 Manager 3.42 $7,347.61 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $22,981.07 52.932%   Alternative QC Complete 09/15/2025
9733476759 XX XX   XX Wisconsin Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 762   Owner/Realtor 6.41 $19,048.13 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   41.727% No Alternative QC Complete 07/10/2025
9733972211 XX XX   XX South Carolina Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Missing Power of Attorney from seller XX to authorize XX singing authority.

Resolved 06/XX/2025 - Received Certificate of Authority, condition resolved.		     PUD 05/XX/2025 85.000% 85.000% Primary Purchase 778   Owner 17 $19,422.16 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   40.430% No Alternative QC Complete 06/24/2025
9734127641 XX XX   XX Colorado Non-QM/Compliant 1 1 1 1 1 No No           PUD 06/XX/2025 80.000% 80.000% Primary Purchase 810   Owner 2.16 $9,583.29 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   49.993% No Alternative QC Complete 06/17/2025
9734228050 XX XX   XX Tennessee Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 771         Mos Reviewed:41
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/13/2025
9734450852 XX XX   XX Arizona Not Covered/Exempt 1 1 1 1 1 No No           Single Family 05/XX/2025 80.000% 80.000% Investor Purchase 753         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/12/2025
9735695497 XX XX   XX Virginia Not Covered/Exempt 1 1 1 1 1 No No           PUD 06/XX/2025 80.000% 80.000% Investor Purchase 734         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/18/2025
9735721830 XX XX   XX Maryland Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Borrower Identity Missing - EV R
COMMENT:   Provide a eligible copy of both borrowers identification proof.


Resolved 07/XX/2025 - Received GOV ID, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide real estate appraiser errors & omissions insurance policy , as it is missing.


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		     Single Family 06/XX/2025 75.000% 75.000% Investor Purchase 707         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/18/2025
9736189920 XX XX   XX Florida Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   EAD class C31 per form I-797C dated 8/29/24. Not an approved class per guide.

A copy of an exception approval letter is available in the loan file.		 DTI: 9.22% DTI is less than the maximum guideline requirement of 50.00%.

Residual Income : $56,103.75 monthly
 2 Family 06/XX/2025 80.000% 80.000% Primary Purchase 687   Owner 6.5 $61,804.29 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   9.224% Yes Alternative QC Complete 06/17/2025
9737161134 XX XX   XX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 65.000% 65.000% Investor Purchase 728         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/17/2025
9738803130 XX XX   XX Virginia Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Cash Out 804   Clinical Pharmacist I 1.75 $13,788.67 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $25,972.50 31.008%   Full Documentation QC Complete 07/02/2025
9738970079 XX XX   XX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 785   Owner 3.83 $20,132.64 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   14.804% Yes Alternative QC Complete 09/15/2025
9739383553 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 80.000% 80.000% Investor Purchase 721   Manager  2.75 $60,653.76 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   18.839% No Alternative QC Complete 07/17/2025
9740334934 XX XX   XX Indiana Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 760   Owner 4.83 $22,428.38 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   27.693% No Alternative QC Complete 06/17/2025
9740369310 XX XX   XX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 61.275% 61.275% Primary Cash Out 681 17.25 Owner 16.3 $10,017.12 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $118,269.97 27.421%   Alternative QC Complete 07/21/2025
9740462784 XX XX   XX New York Non-QM/Compliant 1 1 1 1 1 No No           2 Family 06/XX/2025 80.000% 80.000% Primary Purchase 730   President 5.5 $60,205.14 Mos Reviewed:11
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   18.400% No Alternative QC Complete 06/16/2025
9740804597 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           PUD 06/XX/2025 65.000% 65.000% Investor Purchase 694         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/11/2025
9741796883 XX XX   XX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           2 Family 08/XX/2025 73.636% 73.636% Investor Refinance 708         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		       Alternative QC Complete 09/15/2025
9743579188 XX XX   XX Illinois Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Primary Cash Out 702 2.5 Owner 5.75 $76,987.90 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $7,675.49 14.192%   Alternative QC Complete 06/20/2025
9743933609 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD 07/XX/2025 85.000% 85.000% Primary Purchase 711   President 6.92 $10,290.00 Mos Reviewed:24
Times 1X30:1
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   41.036% No Alternative QC Complete 09/15/2025
9747737311 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 73.576% 73.576% Investor Cash Out 725         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $222,956.11     Alternative QC Complete 07/22/2025
9747880715 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide a copy of mortgage statement of #XX


Resolved 06/XX/2025 - Received loan estimate reflecting mortgage P&I amount, condition resolved.		     Single Family 06/XX/2025 59.880% 59.880% Investor Cash Out 724   President & CEO 7.42 $90,887.66 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $486,581.01 31.335%   Alternative QC Complete 06/18/2025
9748303428 XX XX   XX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 775   Owner 5.41 $37,421.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   22.467% Yes Alternative QC Complete 07/30/2025
9749123676 XX XX   XX Utah Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   "Requesting an exception to allow the subject property, which is a log home."  Exception approval available in the loan file.		 727  exceeds the minimum guideline requirement of 700

216.58 months reserves exceed the minimum guideline of 3 months.

 DTI of 3.05% is less than the maximum guideline requirement of 50%.		 Single Family 06/XX/2025 70.000% 70.000% Primary Purchase 727   Owner 18.25 $625,426.28 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   3.052% No Alternative QC Complete 06/17/2025
9749311313 XX XX   XX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Submit proof of tax payment and insurance coverage for the investment property located at XX


Resolved 08/XX/2025 - Received tax bill and purchase contract and Insurance is not required as it is land property, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of proof document for Child Support.


Resolved 08/XX/2025 - Received divorce decree document, condition resolved.		     Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 735   Owner 11 $9,421.03 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   49.711% No Alternative QC Complete 07/31/2025
9749369956 XX XX   XX California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Purchase Contract - EV R
COMMENT:   Missing addendum for change in purchase price in the amount $xx.

Resolved 06/XX/2025 - Received purchase agreement, condition resolved.

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.518% Allowed 8.300% Overby +0.218%

This loan is compliant with regulation 1026.35.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide wire transfer or bank statement to verify the gift amount of $40,000.00. as it is missing.

Resolved 06/XX/2025 - Received gift wire, condition resolved.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   CA AB 260, California Financial Code Division 1.9 4995(a)Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 8.518% Allowed 8.300% Overby +0.218%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).		     3 Family 06/XX/2025 90.000% 90.000% Primary Purchase 738   Owner 3.08 $32,284.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   25.554% Yes Alternative QC Complete 09/16/2025
9749502945 XX XX   XX Indiana Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 751   Owner/Realtor 19.25 $19,318.61 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   44.742% No Alternative QC Complete 07/17/2025
9750242373 XX XX   XX Massachusetts Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.360% Allowed 8.380% Overby +0.980%.

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   (MA 209 CMR 32.35) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the Code of Massachusetts Regulations.

MA 209 CMR 32.35 Higher-Priced Mortgage Loan Test: Charged 9.360% Allowed 8.380% Overby +0.980%.

This loan is compliant with regulation (MA 209 CMR 32.35).		     Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 649   Owner 10.16 $19,528.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   28.384% Yes Alternative QC Complete 07/03/2025
9750391212 XX XX   XX Florida Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide real estate appraisers error and omissions insurance policy, as it is missing.


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		     4 Family 06/XX/2025 85.000% 85.000% Investor Purchase 804         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/18/2025
9751240731 XX XX   XX Rhode Island Not Covered/Exempt 1 1 1 1 1 No No           3 Family 06/XX/2025 80.000% 80.000% Investor Purchase 796         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/09/2025
9752717109 XX XX   XX Wisconsin Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Missing Lead-Based Paint Disclosure for property build on year 1878.

Resolved 07/XX/2025 - Received LOX as lead based document is not required for refinance loans, condition resolved.		     2 Family 06/XX/2025 52.632% 52.632% Investor Cash Out 718       $0.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $84,667.89     Alternative QC Complete 09/15/2025
9753373191 XX XX   XX California Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   To allow dispute to stay on credit and not be removed and new credit pulled.

A copy of an exception approval letter is available in the loan file.		 FICO: 760 FICO exceeds the guideline requirement of 700.

LTV: 80.00% LTV is less than the guideline requirement of 85.00%.

DTI: 40.82% DTI is less than the maximum guideline requirement of 50.00%.		 PUD 06/XX/2025 80.000% 80.000% Primary Purchase 760   Owner 19.83 $42,729.45 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   40.825% No Alternative QC Complete 06/20/2025
9753565770 XX XX   XX Pennsylvania Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Appraisal incomplete (missing map, layout, pages, etc) - EV R
COMMENT:   Provide real estate appraiser errors & omissions insurance policy , as it is missing.


Resolved 06/XX/2025 - Received E&O insurance policy, condition resolved.		     2 Family 06/XX/2025 80.000% 80.000% Investor Purchase 757         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/20/2025
9753733584 XX XX   XX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Subject or Comp Photos are missing or illegible - EV R
COMMENT:   Provide updated copy of appraisal report with at least 3 comparable sales with each with its own clear, front-view photo.


Resolved 07/XX/2025 - Received updated appraisal report, condition resolved.		     PUD 06/XX/2025 38.889% 38.889% Secondary Cash Out 771   Plumber  35.42 $53,759.52 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $200,987.00 16.349%   Alternative QC Complete 07/02/2025
9753734798 XX XX   XX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 06/XX/2025 75.000% 75.000% Investor Purchase 672   Executive Vice President 17.16 $31,250.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:Credit Report		   33.701% No Full Documentation QC Complete 09/15/2025
9754172212 XX XX   XX Texas Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount of title insurance of $XX on the Title Commitment is less than the loan amount $XX.


Resolved 07/XX/2025 - Received title report with insured amount, condition resolved.		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   NSF event of 22 exceed the guideline requirement of maximum six NSF event in the any 12-month period.

A copy of an exception approval letter is available in the loan file.		 LTV: 60.61% LTV is less than the guideline requirement of 75.00%.

Residual Income : $11,221.04 monthly.
 Single Family 07/XX/2025 60.606% 60.606% Primary Cash Out 692 28 Owner 30.16 $20,175.11 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $289,902.72 44.382%   Alternative QC Complete 07/15/2025
9754186832 XX XX   XX California Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 814   Owner 17.08 $33,504.00 Mos Reviewed:50
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   33.942% No Alternative QC Complete 06/13/2025
9755274272 XX XX   XX Tennessee Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Purchase Contract - EV R
COMMENT:   The purchase agreement expired on June XX, 2024; provide copy of updated purchase agreement or addendum.


Resolved 07/XX/2025 - Received LOX as contract addendum for closing date and this is not short sale, condition resolved.		     Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 681   Owner 7.58 $12,763.55 Mos Reviewed:73
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   34.842% No Alternative QC Complete 06/24/2025
9756023504 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX.


Resolved 08/XX/2025 - Received Supplemental report, condition resolved.		     Single Family 07/XX/2025 80.000% 80.000% Investor Purchase 771         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 08/01/2025
9756610177 XX XX   XX Illinois Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 711   Driver 2.67 $21,241.61 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   27.857% No Alternative QC Complete 06/24/2025
9756814084 XX XX   XX Virginia Non-QM/Compliant 1 1 1 1 1 No No           2 Family 06/XX/2025 75.000% 75.000% Secondary Purchase 707   CEO 5.33 $18,368.08 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   38.543% No Alternative QC Complete 07/09/2025
9757207379 XX XX   XX New Jersey Non-QM/Compliant 1 1 1 1 1 No No           2 Family 05/XX/2025 75.000% 75.000% Primary Cash Out 733 30 Owner 12.42 $36,448.97 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $356,332.54 19.033%   Alternative QC Complete 06/12/2025
9757251757 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           4 Family 06/XX/2025 85.000% 85.000% Investor Purchase 804         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/18/2025
9758643663 XX XX   XX Washington Non-QM/Compliant 1 1 1 1 1 No No           PUD 06/XX/2025 79.730% 79.730% Primary Purchase 789         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		     Yes Alternative QC Complete 06/16/2025
9759639603 XX XX   XX Texas Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Appraisal incomplete (missing map, layout, pages, etc) - EV R
COMMENT:   Appraisal missing copy of appraisers error and omissions policy.

Resolved 06/XX/2025 - Received E&O Policy, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Missing E&O insurance policy.

Resolved 06/XX/2025 - Received E&O Policy, condition resolved.		     PUD 06/XX/2025 85.000% 85.000% Investor Purchase 751   Business Owner 6.42 $30,627.46 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   26.750% No Alternative QC Complete 09/15/2025
9759654354 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           PUD 05/XX/2025 75.000% 75.000% Investor Purchase 794         Mos Reviewed:45
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/13/2025
9760903360 XX XX   XX Alaska Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Purchase 750         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 08/04/2025
9761084681 XX XX   XX New Jersey Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 68.965% 68.965% Primary Cash Out 706 10 Owner 18.42 $66,093.49 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $205,808.83 18.605%   Alternative QC Complete 07/02/2025
9761504894 XX XX   XX New York Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.566% Allowed 8.170% Overby +0.396%.

This loan is compliant with regulation 1026.35.		     Single Family 07/XX/2025 90.000% 90.000% Primary Purchase 720   Owner 14.5 $31,994.67 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   42.743% Yes Alternative QC Complete 07/31/2025
9761512970 XX XX   XX Louisiana Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Purchase 782   Clerk 22.75 $9,510.69 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   38.038% No Full Documentation QC Complete 07/17/2025
9761834184 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           PUD 06/XX/2025 57.107% 57.107% Investor Cash Out 749         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $216,692.26     Alternative QC Complete 06/24/2025
9762017110 XX XX   XX Illinois Non-QM/Compliant 1 1 1 1 1 No No           Single Family 05/XX/2025 42.732% 42.732% Primary Refinance 723 0.83 Orthopedics Surgeon 16.83 $105,424.59 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   21.040%   Alternative QC Complete 06/16/2025
9762196096 XX XX   XX Illinois Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 06/XX/2025 80.000% 80.000% Investor Purchase 732         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/09/2025
9762418755 XX XX   XX Wisconsin Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 762   Owner 6.25 $23,849.22 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   20.221% No Alternative QC Complete 07/15/2025
9762653500 XX XX   XX Indiana Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1)Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 9.427% Allowed 8.330% +Overby 1.097%

This loan is compliant with regulation 1026.35.		     Single Family 07/XX/2025 90.000% 90.000% Primary Purchase 733   Owner 7.5 $10,428.14 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   43.824% No Alternative QC Complete 07/31/2025
9762725936 XX XX   XX Ohio Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1)  Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.521% Allowed 8.270% Overby +0.251%

This loan is compliant with regulation 1026.35.		     PUD 07/XX/2025 90.000% 90.000% Primary Purchase 725   Owner 6.08 $13,089.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   25.979% Yes Alternative QC Complete 08/01/2025
9762875632 XX XX   XX Washington Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of bank statement for the month of Dec 2024 "XX


Resolved 06/XX/2025 - Received Dec month bank statement, condition resolved.		     PUD 05/XX/2025 81.417% 81.417% Primary Refinance 757 0.58 Owner 4.33 $18,132.52 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   29.216%   Alternative QC Complete 06/13/2025
9763084374 XX XX   XX Missouri Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 85.000% 85.000% Investor Purchase 801         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 08/01/2025
9763825107 XX XX   XX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 60.000% 60.000% Primary Purchase 758   Attomey-Owner 22.92 $46,674.56 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   40.313% No Alternative QC Complete 07/17/2025
9765057618 XX XX   XX North Carolina Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Final CD missing 2,3,4 pages of 5.

Resolved 07/XX/2025: Received Final CD missing 2,3,4 pages of 5 dated 7/xx/2025 and exception is cleared.		     PUD 07/XX/2025 65.000% 65.000% Investor Cash Out 772         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $18,347.86     Alternative QC Complete 09/15/2025
9765183133 XX XX   XX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           2 Family 07/XX/2025 75.000% 75.000% Investor Purchase 737         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/16/2025
9765768321 XX XX   XX Indiana Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 756   Contractor 3.42 $16,989.26 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   44.499% No Alternative QC Complete 06/18/2025
9766773098 XX XX   XX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Purchase 794         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/18/2025
9766842471 XX XX   XX Utah Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   The Title Commitment is incomplete due to missing Schedules B and C.


Resolved 06/XX/2025 - Received title commitment with schedule B and C, condition resolved.		     Single Family 06/XX/2025 78.668% 78.668% Primary Purchase 756   CEO & Owner 7.75 $1,027,657.70 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   2.230% No Alternative QC Complete 06/19/2025
9767090781 XX XX   XX Oregon Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   The borrower is using a bridge loan from their departing residence at xxwhich is currently listed for sale.

A copy of an exception approval letter is available in the loan file.		 FICO: 803 FICO exceeds the guideline requirement of 700.

Residual Income : $28,510.93 monthly.
 Single Family 06/XX/2025 75.000% 75.000% Primary Purchase 803   Owner 17.25 $44,526.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   35.969% No Alternative QC Complete 07/09/2025
9767604268 XX XX   XX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 60.000% 60.000% Secondary Cash Out 750   Partner 14.08 $362,374.62 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $582,788.30 16.621%   Alternative QC Complete 07/31/2025
9767792816 XX XX   XX Tennessee Not Covered/Exempt 1 1 1 1 1 No No           PUD 06/XX/2025 80.000% 80.000% Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/03/2025
9768061740 XX XX   XX California Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX


Resolved 06/XX/2025 - Received final policy with insured amount $XX, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of missing PUD Rider.


Resolved 07/XX/2025 - Received PUD Rider, condition resolved.		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   The borrower's 12-month history is comprised of a VOR from 10/31/2024 to the current at XX reflecting 0x30 for 7 months. Before that, the borrower lived at XX at family home that he owned and recently sold on 4/XX/2025 for 30days. The remainder of the 12 months was documented with bank statements from 4/11/2024 -9/10/2024 showing payments of $1552.00 a copy of a month-to-month lease indicated the amount paid was not the full rental amount, and the borrower provided a letter of explanation stating that he at the time they were living with their ex-who was responsible for the other half of the rent and they no longer communication so he is unable to provide the proof the other half of the rent payments during that time.
Asking for an exception to accept rental history as documented.

A copy of an exception approval letter is available in the loan file.		 FICO: 717 FICO exceeds the guideline requirement of 660.

DTI: 26.94% DTI is less than the maximum guideline requirement of 50.00%.		 PUD 05/XX/2025 80.000% 80.000% Primary Purchase 717   Plumber 20.33 $26,648.20 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   26.939% No Alternative QC Complete 06/17/2025
9769008401 XX XX   XX Louisiana Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Property is vacant - EV R
COMMENT:   Appraisal reflecting occupant as vacant , it should be owner as the purpose of transaction is primary refinance. Provide an updated appraisal.


Resolved 06/XX/2025 - Received Updated appraisal report, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a quit claim deed to transfer the ownership from " XXC" to "XX".


Resolved 06/XX/2025 - Received Quit claim deed, condition resolved.		     Single Family 06/XX/2025 78.646% 78.646% Primary Refinance 754 2 Owner 4.75 $42,285.67 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:Credit Report		   25.912%   Alternative QC Complete 06/18/2025
9769258345 XX XX   XX Virginia Not Covered/Exempt 1 1 1 1 1 No No           3 Family 07/XX/2025 85.000% 85.000% Investor Purchase 785         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 08/13/2025
9769260945 XX XX   XX New York Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Additional Address on Credit Report - EV R
COMMENT:   Borrower staying rent, require 2 years of housing history, provide a copy of VOR of (XX )


Provide a letter of explanation for the additional address indicated in the credit report during the last 24 months.

Resolved 06/XX/2025: Resolved as the borrower has rented the current primary residence atXXL from
8/2023 through the present (over 12 months.) A VOR for the prior residence is not required.

*** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide a copy of 2 months recent bank statement  XX,as it is missing.


Resolved 06/XX/2025 - Received bank statement, condition resolved.		     Single Family 05/XX/2025 80.000% 80.000% Primary Purchase 765   Coach/Trainer of Figure 9.33 $10,461.93 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   40.895% Yes Alternative QC Complete 06/03/2025
9769832636 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 783         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/03/2025
9769842841 XX XX   XX New York Not Covered/Exempt 1 1 1 1 1 No No           2 Family 07/XX/2025 75.000% 75.000% Investor Cash Out 766   Teacher 10.58 $11,916.36 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $118,589.82 39.873%   Full Documentation QC Complete 07/23/2025
9770129188 XX XX   XX Ohio Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Non-Perm Resident with Class U2 Visa  
A copy of an exception approval letter is available in the loan file.		 FICO: 711 FICO exceeds the guideline requirement of 660.

DTI: 32.35% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 107 months of available reserves are more than the guideline requirement of 5 months.

 2 Family 07/XX/2025 70.000% 70.000% Investor Cash Out 711   Owner 6.5 $38,258.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $236,332.65 32.101%   Alternative QC Complete 09/15/2025
9771710937 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX


Resolved 06/XX/2025 - Received title report for insured amount, condition resolved.		     4 Family 05/XX/2025 80.000% 80.000% Investor Purchase 794   Owner 3.23 $32,543.64 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   34.882% No Alternative QC Complete 06/09/2025
9771856235 XX XX   XX Utah Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide a copy of title supplement report, title insured amount xx not covering the loan amount of $XX

Resolved 07/XX/2025 - Received updated title with insured amount, condition resolved.		     Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 678   Owner 7.08 $39,916.30 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   36.994% No Alternative QC Complete 07/16/2025
9773629010 XX XX   XX Pennsylvania Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   5% LTV exception for over $2M guideline is 75%, requesting 80% LTV.

A copy of an exception approval letter is available in the loan file.		 FICO: 761 FICO exceeds the guideline requirement of 740.

DTI: 46.55% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 53 months of available reserves are more than the guideline requirement of 12 months.		 Single Family 07/XX/2025 80.000% 80.000% Primary Purchase 761   Owner/Veterinarian 8.25 $47,044.42 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   46.863% No Alternative QC Complete 08/01/2025
9773945457 XX XX   XX Florida Not Covered/Exempt 1 1 1 1 1 No No           2 Family 07/XX/2025 80.000% 80.000% Investor Purchase 759         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:Credit Report		     No Alternative QC Complete 08/01/2025
9774684642 XX XX   XX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide a copy of title supplemental report to cover the loan amount $XX

Resolved on 06/XX/2025 : Received Title document , condition resolved.		     Single Family 05/XX/2025 34.641% 34.641% Primary Purchase 774   Owner 3.33 $14,823.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   23.173% No Alternative QC Complete 06/10/2025
9774929005 XX XX   XX Alabama Not Covered/Exempt 1 1 1 1 1 No No           PUD 07/XX/2025 80.000% 80.000% Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/31/2025
9775010185 XX XX   XX Illinois Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Cash Out 722 4.08 Carpenter 3.16 $5,691.05 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $14,562.45 45.624%   Full Documentation QC Complete 07/02/2025
9776109259 XX XX   XX Wisconsin Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.686% Allowed 8.420% Overby +0.266%.

This loan is compliant with regulation 1026.35.		     Single Family 06/XX/2025 85.000% 85.000% Primary Purchase 704   Owner 2.66 $7,196.95 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   20.754% No Alternative QC Complete 06/19/2025
9777293037 XX XX   XX Hawaii Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XX


Resolved 08/XX/2025 - Received title supplement report, condition resolved.		     PUD 07/XX/2025 70.000% 70.000% Primary Cash Out 658 21.41 Manager 4.05 $2,400.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $633,055.78 47.872%   Full Documentation QC Complete 08/04/2025
9777617797 XX XX   XX Maryland Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Purchase 735         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/31/2025
9777756454 XX XX   XX Virginia Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing proof of hazard insurance - EV R
COMMENT:   Hazard insurance reflecting incorrect subject address.Provide an updated hazard insurance.


Resolved 07/XX/2025 - Received corrected hazard insurance, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Proof of EMD missing in the file.


Resolved 06/XX/2025 - Received client response as The borrower had sufficient assets to cover the funds to close and reserves without verifying the EMD, condition resolved.		     Low Rise Condo  (1-4 Stories) 06/XX/2025 70.000% 70.000% Primary Purchase 771   Senior Image scientist 3.25 $10,065.47 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   28.209% Yes Full Documentation QC Complete 06/12/2025
9778121526 XX XX   XX North Carolina Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 55.446% 55.446% Primary Cash Out 766 9.42 Owner 32.5 $15,979.31 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $103,751.92 14.364%   Alternative QC Complete 08/13/2025
9778243098 XX XX   XX California Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 07/XX/2025 34.783% 34.783% Investor Cash Out 776         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $192,727.64     Alternative QC Complete 07/16/2025
9778868407 XX XX   XX New Jersey Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Secondary Purchase 737   Owner 22.41 $42,340.03 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   17.625% No Alternative QC Complete 06/24/2025
9779543488 XX XX   XX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 07/XX/2025 70.000% 70.000% Investor Cash Out 798         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :Yes
Total Delinquent:0.00000
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $132,359.29     Alternative QC Complete 07/16/2025
9779610733 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD 07/XX/2025 80.000% 80.000% Primary Purchase 734   Owner 19.25 $27,951.26 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   38.954% No Alternative QC Complete 07/21/2025
9781360152 XX XX   XX New York Not Covered/Exempt 1 1 1 1 1 No No           2 Family 07/XX/2025 75.000% 75.000% Investor Purchase 701         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/17/2025
9781692034 XX XX   XX New Jersey Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 85.000% 85.000% Primary Purchase 811   Real Estate Broker 4.08 $15,225.37 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   47.913% Yes Alternative QC Complete 06/23/2025
9782158159 XX XX   XX Georgia Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.891% Allowed 8.250% +Overby 1.641%

This loan is compliant with regulation 1026.35.

*** (CURED) VOM or VOR missing/required - EV R
COMMENT:   Please provide a Verification of Rent (VOR) for the borrower's current residence located at XX, where the monthly rent is $1,500.


Resolved 08/XX/2025 - Received credit supplemental report with 12 months rental history, condition resolved.		     Single Family 07/XX/2025 90.000% 90.000% Primary Purchase 755   Hair Stylist & Makeup Artist 15.83 $3,355.19 Mos Reviewed:12
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   40.201% Yes Alternative QC Complete 08/01/2025
9782469374 XX XX   XX Indiana Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Investor Cash Out 758         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $52,536.49     Alternative QC Complete 07/09/2025
9783075964 XX XX   XX New Jersey Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Borrower Identity Missing - EV R
COMMENT:   The Borrower's Driver License expired on 07/XX/2025, which is prior to the closing date. Provide a updated government ID


Resolved 07/XX/2025 - Received un expired passport, condition resolved.		     Single Family 07/XX/2025 68.434% 68.434% Investor Cash Out 797         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $102,634.27     Alternative QC Complete 07/17/2025
9783333835 XX XX   XX Texas Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The $XX coverage amount on the title report is less than the mortgage loan amount of $1XX


Resolved 06/XX/2025 - Received title report with insured amount, condition resolved.

*** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide copy of VOR proof of  XX


Resolved 06/XX/2025 - Received Client response as LOX is not required for the previous residence property, condition resolved.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Hazard insurance does not reflects ISAOA ATIMA.


Resolved 07/XX/2025 - Received updated insurance document, condition resolved.		     Single Family 06/XX/2025 80.000% 80.000% Primary Refinance 775 1.58 Electrician 3.25 $5,520.41 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   38.599%   Alternative QC Complete 06/19/2025
9783519813 XX XX   XX Illinois Not Covered/Exempt 1 1 1 1 1 No No           3 Family 07/XX/2025 75.000% 75.000% Investor Purchase 770         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 08/08/2025
9783719074 XX XX   XX South Carolina Non-QM/Compliant 1 1 1 1 1 No No           PUD 07/XX/2025 75.000% 75.000% Secondary Purchase 772   President 9.33 $16,333.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   33.531% No Full Documentation QC Complete 07/22/2025
9784014327 XX XX   XX North Carolina Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.748% Allowed 8.370% Overby +0.378%

This loan is compliant with regulation 1026.35.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide Real estate appraisers error and omissions insurance policy, as it is missing


Resolved 06/XX/2025 - Received appraisal report with E&O Policy, condition resolved.		     PUD 05/XX/2025 90.000% 90.000% Primary Purchase 761   President 10.33 $66,902.72 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   16.730% No Alternative QC Complete 06/10/2025
9784429244 XX XX   XX North Carolina Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 49.516% 49.516% Primary Refinance 730 3.66 Broker 3.5 $6,862.28 Mos Reviewed:0
Times 1X30:
Times 1X60:
Times 1X90:
Currently Delinquent? :
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:		   27.329%   Alternative QC Complete 09/15/2025
9784578719 XX XX   XX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 727         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/12/2025
9784651755 XX XX   XX Pennsylvania Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount of title insurance of $XX on the Title Commitment is less than the loan amount $XX.


Resolved 06/XX/2025 - Received title insured amount, condition resolved.		     Single Family 06/XX/2025 75.000% 75.000% Primary Cash Out 718 34     $2,285.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $166,388.47 42.551%   Alternative QC Complete 06/23/2025
9785492126 XX XX   XX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Purchase 820         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 09/15/2025
9785841488 XX XX   XX Minnesota Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.292% Allowed 8.300% Overby +0.992%.

This loan is compliant with regulation 1026.35.		     Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 668   Partner 3.5 $9,286.69 Mos Reviewed:44
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   37.236% No Alternative QC Complete 06/12/2025
9786022021 XX XX   XX Oregon Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 07/XX/2025 80.000% 80.000% Primary Refinance 756 0.75 Owner 5.5 $31,153.87 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   36.799%   Alternative QC Complete 07/31/2025
9786028051 XX XX   XX Michigan Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Cash Out 814         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $118,977.61     Alternative QC Complete 07/31/2025
9786310780 XX XX   XX Florida Non-QM/Compliant 1 1 1 1 1 No No           Single Family 07/XX/2025 70.000% 70.000% Primary Purchase 790   Owner 4.08 $16,433.38 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   35.180% No Alternative QC Complete 07/18/2025
9788544097 XX XX   XX South Carolina Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   FTHB with no prior housing payment in the past 12 months purchasing a 2nd home.

A copy of an exception approval letter is available in the loan file.		 FICO: 738 FICO exceeds the guideline requirement of 720.

DTI: 41.58% DTI is less than the maximum guideline requirement of 50.00%.


 Low Rise Condo  (1-4 Stories) 06/XX/2025 80.000% 80.000% Secondary Purchase 738   Owner/Operator 25.42 $28,632.41 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   41.578% Yes Alternative QC Complete 06/17/2025
9788547934 XX XX   XX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide lease agreement for XX ($2,500), as it is missing.


Resolved 07/XX/2025 - There is no lease agreement required for STR Income, condition resolved.		     3 Family 06/XX/2025 70.000% 70.000% Investor Cash Out 758         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $133,344.54     Alternative QC Complete 07/02/2025
9789025872 XX XX   XX Maryland Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 59.190% 59.190% Primary Cash Out 775 21 Owner 12.83 $8,152.77 Mos Reviewed:99
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $39,095.89 29.791%   Alternative QC Complete 06/18/2025
9789711919 XX XX   XX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 07/XX/2025 80.000% 80.000% Investor Purchase 795         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/17/2025
9791447155 XX XX   XX Washington Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) 07/XX/2025 51.765% 51.765% Investor Cash Out 736       $7,344.30 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $62,672.59 38.700%   Full Documentation QC Complete 07/29/2025
9791539969 XX XX   XX Wisconsin Not Covered/Exempt 1 1 1 1 1 No No           4 Family 07/XX/2025 80.000% 80.000% Investor Purchase 752         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/31/2025
9791641922 XX XX   XX Alabama Not Covered/Exempt 1 1 1 1 1 No No           High Rise Condo (>=9 Stories) 07/XX/2025 75.000% 75.000% Investor Purchase 754         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/22/2025
9791752257 XX XX   XX Georgia Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The $XX coverage amount on the title report is less than the mortgage loan amount of $XX.


Resolved 06/XX/2025 - Received title report with insured amount, condition resolved.		     PUD 06/XX/2025 69.863% 69.863% Primary Cash Out 704 5.58 Owner 16.83 $9,655.48 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $139,887.10 47.611%   Alternative QC Complete 06/19/2025
9791776983 XX XX   XX Ohio Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 757         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/19/2025
9791918551 XX XX   XX New York Not Covered/Exempt 1 1 1 1 1 No No           3 Family 07/XX/2025 85.000% 85.000% Investor Purchase 776   Owner 11.41 $120,440.87 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   9.039% No Alternative QC Complete 07/16/2025
9791947352 XX XX   XX Pennsylvania Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Primary Cash Out 741 1.83 Project Manager 3.25 $6,668.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $78,885.92 49.473%   Full Documentation QC Complete 07/03/2025
9793014938 XX XX   XX California Not Covered/Exempt 1 1 1 1 1 No No           PUD 07/XX/2025 75.000% 75.000% Investor Purchase 777       $0.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/16/2025
9793055337 XX XX   XX Texas Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide updated Hazard insurance with mortgage clause.


Resolved 07/XX/2025 - Received Updated insurance document, condition resolved.		     Single Family 06/XX/2025 69.321% 69.321% Investor Cash Out 735         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $176,094.89     Alternative QC Complete 07/10/2025
9793247447 XX XX   XX South Carolina Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.577% Allowed 8.380% Overby +1.197%.


This loan is compliant with regulation 1026.35.		     Single Family 06/XX/2025 90.000% 90.000% Primary Purchase 785   Owner 3.25 $14,123.81 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		   44.739% No Alternative QC Complete 07/17/2025
9793446429 XX XX   XX Connecticut Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   "The hazard insurance policy was not properly scanned. The Dwelling coverage amount shows $xx, indicating a missing digit."


Resolved 07/XX/2025 - Received corrected insurance, condition resolved.		     Single Family 06/XX/2025 75.000% 75.000% Investor Purchase 707         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/09/2025
9793638272 XX XX   XX Ohio Not Covered/Exempt 1 1 1 1 1 No No           PUD 06/XX/2025 80.000% 80.000% Investor Purchase 794   General Physician 21.42 $7,182.99 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   49.186% No Alternative QC Complete 07/09/2025
9794525197 XX XX   XX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 75.000% 75.000% Primary Cash Out 693 15 Owner 6.33 $17,176.03 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $80,781.24 23.876%   Alternative QC Complete 06/20/2025
9794614397 XX XX   XX New Jersey Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide a copy of the Title supplement, as the proposed title insurance amount of $XX is inadequate to cover the loan amount of $XX.


Resolved 06/XX/2025 - Received title report with insured amount, condition resolved.		     3 Family 06/XX/2025 75.000% 75.000% Investor Cash Out 766         Mos Reviewed:35
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $138,281.32     Alternative QC Complete 06/18/2025
9794724691 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family 06/XX/2025 80.000% 80.000% Investor Purchase 809   Manager, Human Resources 9.58 $9,227.48 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   19.215% No Full Documentation QC Complete 07/03/2025
9795667022 XX XX   XX Texas Not Covered/Exempt 1 1 1 1 1 No No           PUD 05/XX/2025 75.000% 75.000% Investor Purchase 774         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 06/13/2025
9795709279 XX XX   XX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family 06/XX/2025 23.958% 23.958% Primary Cash Out 705 35.08 Owner 25.42 $8,486.79 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $99,298.32 40.182%   Alternative QC Complete 06/13/2025
9796133305 XX XX   XX Massachusetts Not Covered/Exempt 1 1 1 1 1 No No           Single Family 07/XX/2025 75.000% 75.000% Investor Purchase 713         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/29/2025
9796851161 XX XX   XX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Disclosure - Your Home Loan Toolkit is missing or unexecuted - EV R
COMMENT:   Missing Home Loan Toolkit.

Resolved 07/XX/2025: Received Home Loan Toolkit dated 4/XX/2025 and exception is cleared.		     Single Family 06/XX/2025 80.000% 80.000% Primary Purchase 717   Owner 7.75 $14,943.16 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   35.999% Yes Alternative QC Complete 06/23/2025
9798421237 XX XX   XX Michigan Not Covered/Exempt 1 1 1 1 1 No No           2 Family 06/XX/2025 80.000% 80.000% Investor Purchase 766         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/09/2025
9799440749 XX XX   XX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           2 Family 07/XX/2025 67.568% 67.568% Investor Cash Out 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 $238,535.45     Alternative QC Complete 07/31/2025
9799697868 XX XX   XX Colorado Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Missing credit report - EV R
COMMENT:   Provide a copy of credit report for the borrower (XXX with atleast 2 credit scores in it.


Resolved 06/XX/2025 - Received Client LOE " The borrower does not have any reported credit freeze & 1 credit score is allowed as per guideline", condition resolved.		     High Rise Condo (>=9 Stories) 05/XX/2025 75.000% 75.000% Investor Purchase 812   Owner 12.75 $38,941.92 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   7.004% No Alternative QC Complete 06/24/2025