EX-99.3 19 ea025949101_ex99-3sch5.htm SCHEDULE 5 - EXCEPTION REPORT

Exhibit 99.3 Schedule 5

 

   
  Exception Detail
  Run Date - 09/25/2025 1:47:30 PM
ASF Loan Number Evolve Loan ID Customer Loan ID Seller Loan ID Loan Exception ID Exception ID Exception Date Exception Type Exception Category Exception Subcategory Exception Exception Detail Exception Information Exception Remediation Compensating Factors Follow-up Comments Cleared Date Cured Date Waived Date Exception Level Grade Exception Level Rating Note Date Property State Occupancy Purpose Overall Initial Loan Grade Overall Final Loan Grade Credit Initial Loan Grade Credit Final Loan Grade Compliance Initial Loan Grade Compliance Final Loan Grade Property Initial Loan Grade Property Final Loan Grade Originator QM ATR Status TPR QM ATR Status Is Curable
400093763 XX XX XX 7122148 330 12/10/2024 Credit UW Credit   UW Credit - UW - Credit Other   Loan approval missing from file. received final approval     12/10/2024     A 1 11/XX/2024 GA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025021662 XX XX XX 7134853 272 03/24/2025 Valuation UW Collateral   UW Collateral - UW - Appraisal Other   Missing comments from the appraiser on whether the security bars on the windows of the subject property are equipped with safety release latches Revised appraisers' comments: Since the subject includes at least 3 unobstructed exits, safety releases are not needed     Client 04/21/2025 05:19 PM; Do we have any options on this condition, can it be waived? Borrower is being non-responsive to our request to inspect the bars.

 Reviewer 04/22/2025 10:48 AM; Since it may be a safety issue (fire hazard) need an addendum or a completed 1004D with a new appraiser, commenting on the bars. Thx  

 Client 05/06/2025 05:43 PM; If we cannot obtain clarification or if the bars do not have safety releases, are there any other options?

 Client 05/06/2025 05:48 PM; Disregard my request submitted today, as I see from 4021 your response. Sorry about that.

 Reviewer 05/07/2025 07:52 AM;

 Reviewer 05/07/2025 07:53 AM;

 Reviewer 05/07/2025 09:58 AM; Thank you!

 Reviewer 05/07/2025 09:58 AM; Thank you!

05/19/2025     A 1 03/XX/2025 DC 3 1 C   A   A   A   N/A N/A C   A     Exempt 1
12025041152 XX XX XX 7142639 187 06/01/2025 Credit Flood Certificate   Flood Certificate - is missing.   Flood Cert is missing from file. Document provided     06/10/2025     A 1 05/XX/2025 TX 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025041152 XX XX XX 7142640 201 06/01/2025 Credit Hazard Insurance   Hazard Insurance - is missing.   The hazard policy is missing from file. Document provided     06/10/2025     A 1 05/XX/2025 TX 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025041152 XX XX XX 7142794 851 06/03/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Exception approval required for a loan amount below the guidelines limit of $125,000.  (Actual is $xx)   Approval granted for a loan amount below the guidelines limit of $125,000. (Actual is $1XX). Compensating factors are 1) Credit score is at least 40 points over the 700 minimum 2) DSCR is over 1.15 3) Reserves from the borrower's own funds are at least 4 months PITI.       06/03/2025 B 2 05/XX/2025 TX 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025041152 XX XX XX 7142796 330 06/03/2025 Credit UW Credit   UW Credit - UW - Credit Other   Missing Certificate of Good Standing for XX Internet search provided    Client 06/10/2025 12:11 PM; Please see uploaded document dated prior to closing used in place of the cert of good standing as it reflects the same information. Thank you so much.

 Reviewer 06/10/2025 01:47 PM; Condition has been reviewed. Thx

06/10/2025     A 1 05/XX/2025 TX 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025041152 XX XX XX 7142797 330 06/03/2025 Credit UW Credit   UW Credit - UW - Credit Other   Personal Guaranty must reflect the correct loan amount. The loan amount does not reflect on the Personal Guaranty. Just the subject address    Client 06/09/2025 06:24 PM; The loan amount does not reflect on the Personal Guaranty. Please advise if you can clear, thank you!

 Reviewer 06/10/2025 08:03 AM; Condition has been reviewed. Thx

06/10/2025     A 1 05/XX/2025 TX 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025041159 XX XX XX 7142769 330 06/03/2025 Credit UW Credit   UW Credit - UW - Credit Other   Missing Certificate of Good Standing for XX Internet search provided    Client 06/10/2025 12:17 PM; Please accept document dated prior to closing used for cert of good standing as it reflects the same information. Thank you.

 Reviewer 06/10/2025 03:21 PM; Condition has been reviewed. Thx

06/10/2025     A 1 05/XX/2025 TX 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025042509 XX XX XX 7142881 72 06/04/2025 Credit Closing Package   Closing Package -    Final Closing Disclosure is missing from file. Information provided     06/11/2025     A 1 05/XX/2025 NJ 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025042509 XX XX XX 7143026 1055 06/04/2025 Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The final CD is missing from the loan file. The credit review is on hold until documents are received. Received     06/11/2025     A 1 05/XX/2025 NJ 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025042604 XX XX XX 7143526 851 06/11/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Exception required for Borrower living rent free with someone other than a spouse. Borrower lives with daughter.   Exception approval received/ Comp Factors - 26 months reserves, fico 778       06/15/2025 B 2 05/XX/2025 FL 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025051025 XX XX XX 7143516 350 06/11/2025 Credit UW Qualifications   UW Qualifications - UW - LTV/CLTV does not meet parameters   Max LTV 70% for loan program. Loan approved at 75% LTV.   Compensating Factors: Experienced investor with fraud guard report confirming 5+ years 19 experience; Borrower FICO (734) is 34 points above minimum (700) with no late payments ever; At least 3 tradelines > 5 years.       06/11/2025 B 2 05/XX/2025 NY 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025051025 XX XX XX 7143486 219 06/10/2025 Credit HUD1   HUD1 - Final HUD-1 is missing   Please provide the final HUD-1 settlement statement. Information provided     07/01/2025     A 1 05/XX/2025 NY 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025050710 XX XX XX 7143909 851 06/16/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Executed lease and verification of security deposit and first month's rent deposited into borrowers account required for use of rental income to offset payment. Exception approved to use 1007 only.   Compensating factors: 800 FICO/40 points above required. Reserves in excess of 4 months over required program.        06/16/2025 B 2 06/XX/2025 CA 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025050710 XX XX XX 7143921 330 06/16/2025 Credit UW Credit   UW Credit - UW - Credit Other   Loan approval missing from file. Received approval     06/18/2025     A 1 06/XX/2025 CA 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025051558 XX XX XX 7143949 330 06/16/2025 Credit UW Credit   UW Credit - UW - Credit Other   Verification of taxes, insurance and HOA for xx missing from file. HOI, Tax Record and 1008 provided    Client 07/02/2025 03:51 PM; Please find uploaded proof property not in any hoa, property tax info, updated 1008, hoi dec pg with premium reflected. Thanks so much.  

 Reviewer 07/02/2025 04:09 PM; Condition has been reviewed. Thx

07/02/2025     A 1 06/XX/2025 FL 2 1 C   A   C   A   A   A   A   A     Exempt 1
12025051708 XX XX XX 7144027 851 06/17/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Exception request for a borrower who lives rent free with parents.   Comp Factors:  1. FICO 40+ points over the minimum required score for the LTV requested.  2. Residual income over $3000. ** Capital Markets allows Credit Risk to approve this exception without pricing implications.       06/17/2025 B 2 06/XX/2025 CA 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025041272 XX XX XX 7144011 330 06/17/2025 Credit UW Credit   UW Credit - UW - Credit Other   Provide a complete fraud report with all high and medium alerts addressed. Received Fraud report and alerts summary cleared     07/01/2025     A 1 06/XX/2025 NJ 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025041272 XX XX XX 7144012 336 06/17/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income Other   The lenders bank statement income calculation worksheet was missing from the loan file. Received bank statements income worksheets     07/08/2025     A 1 06/XX/2025 NJ 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025040813 XX XX XX 7144119 1055 06/18/2025 Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The final settlement statement for the subject loan is missing from the loan file. The credit review is on hold until documents are received. Documentation received     06/20/2025     A 1 06/XX/2025 NJ 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025040813 XX XX XX 7143774 72 06/13/2025 Credit Closing Package   Closing Package -    The Final Settlement Statement is missing from file. Information provided     06/23/2025     A 1 06/XX/2025 NJ 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025050903 XX XX XX 7144255 336 06/20/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Missing documentation verifying the source of the following large deposits into the borrower’s business checking account ending XX $105,175.37 on 7/XX/2024, $50,000 on 8/15/2024, and $68,517 on 8/26/2024. Per guidelines, deposits exceeding 50% of the month’s beginning balance must be sourced or will be excluded. The deposits were not excluded from income calculation. The initial income worksheet and additional income worksheet were provided showing the large deposits removed. Borrower has low DTI and still qualifies with reduced income   Client 06/26/2025 03:00 PM; I provided the initial income worksheet and additional income worksheet removing the large deposits. Bwr has low DTI and still qualifies with reduced income

 Reviewer 06/26/2025 04:21 PM; Condition has been reviewed. Thx

06/26/2025     A 1 06/XX/2025 WA 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025050903 XX XX XX 7144256 1014 06/20/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet self employed   Missing the Bank Statement Income Calculation Worksheet Analysis for the borrower, xx. The initial income worksheet and additional income worksheet were provided showing the large deposits removed. Borrower has low DTI and still qualifies with reduced income   Client 06/26/2025 03:00 PM; I provided the initial income worksheet and additional income worksheet removing the large deposits. Bwr has low DTI and still qualifies with reduced income

 Reviewer 06/26/2025 04:21 PM; Condition has been reviewed. Thx

06/26/2025     A 1 06/XX/2025 WA 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025051694 XX XX XX 7144276 330 06/21/2025 Credit UW Credit   UW Credit - UW - Credit Other   Operating Agreement shows 3 members. Based on the XXborrower is a minority owner. Entity document authorizing the guarantor (borrower) to execute loan documents on behalf of the entity was not provided. Received Authorization     07/10/2025     A 1 06/XX/2025 TX 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025050603 XX XX XX 7143995 72 06/17/2025 Credit Closing Package   Closing Package -    Final Closing Disclosure/Hud is missing from file. Information provided     06/26/2025     A 1 06/XX/2025 NJ 3 3 C   A   C   A   N/A N/A A   A     Exempt 1
12025031902 XX XX XX 7144055 72 06/17/2025 Credit Closing Package   Closing Package -    The Final CD or Final Settlement is missing from file. Information provided     06/25/2025     A 1 06/XX/2025 HI 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025031902 XX XX XX 7144375 1055 06/23/2025 Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The final CD is missing from the loan file. The credit review is on hold until documentaion is provided. Documents provided     06/25/2025     A 1 06/XX/2025 HI 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025050433 XX XX XX 7144299 330 06/23/2025 Credit UW Credit   UW Credit - UW - Credit Other   The settlement statement provided is missing a date. Provide an updated settlement statement that is signed and dated by the borrower. Stamped certified true copy; signature date is not required.   Reviewer 06/25/2025 09:13 PM; The signature date was missing on the document provided.

 Client 06/26/2025 02:34 PM; stamped certified true copy; signature date is not required.

 Reviewer 06/26/2025 02:52 PM; Condition has been reviewed Thx

06/26/2025     A 1 06/XX/2025 NJ 3 13 C   A   C   A   N/A N/A A   A     Exempt 1
12025050879 XX XX XX 7144344 998 06/23/2025 Credit UW Other   UW Other - UW - Title Commitment is missing or requires correction.   The loan amount listed on the Title Commitment ($XX) does not match the loan amount stated on the Note ($XX). Received revised title     06/25/2025     A 1 06/XX/2025 PA 3 13 D   A   D   A   N/A N/A C   A     Exempt 1
12025050879 XX XX XX 7144345 1108 06/23/2025 Valuation UW Collateral TPR   UW Collateral TPR - UW - Second collateral evaluation is required.   Provide secondary valuation as CU score was not provided. Received FNMA SSR= 2.1     06/25/2025     A 1 06/XX/2025 PA 3 13 D   A   D   A   N/A N/A C   A     Exempt 1
12025011645 XX XX XX 7144338 330 06/23/2025 Credit UW Credit   UW Credit - UW - Credit Other   Missing final signed 1003/application Received signed 1003     07/01/2025     A 1 06/XX/2025 SC 2 1 C   A   C   A   C   A   A   A     Exempt 1
12025011645 XX XX XX 7144339 336 06/23/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Missing Asset Utilization Worksheet confirming monthly income of $9,864.38 Received Asset Utilization worksheet     07/01/2025     A 1 06/XX/2025 SC 2 1 C   A   C   A   C   A   A   A     Exempt 1
12025011645 XX XX XX 7144169 666 06/19/2025 Compliance Sales Contract   Sales Contract - Compliance \ Sales Contract missing   Please provide the sales contract/purchase agreement. Information provided     06/25/2025     A 1 06/XX/2025 SC 2 1 C   A   C   A   C   A   A   A     Exempt 1
12025052191 XX XX XX 7144463 1013 06/24/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet required   Missing the income calculation worksheet for the business bank statement analysis. Worksheet provided    Client 07/16/2025 12:24 PM; Income calc worksheet for your review. Thank you.

 Reviewer 07/16/2025 01:23 PM; Condition has been reviewed. Thx

07/16/2025     A 1 06/XX/2025 FL 1 13 C   B   C   B   A   A   A   A     Exempt 1
12025052191 XX XX XX 7144464 330 06/24/2025 Credit UW Credit   UW Credit - UW - Credit Other   Missing Approval Exception Ineligible Form of Vesting. The loan was closed in the name of the XX. According to the trust agreement provided, the vesting is held in a XXt. Per guidelines, XXare an ineligible form of vesting.   Exception for file closed in a Trust name, with aXX. Compensating Factors: 40 points over minimum score in the tier (699 FICO), LTV - 10%<Matrix Tier (75% max/70% preferred) current 58.48%, self-employed history > 5 years same business, DTI is 10% or more under max allowed current 37.74%), Residual income >=$300.00 (current $8,416.30)   Client 07/18/2025 09:41 AM; Please find exception uploaded for review. Thank you.

 Reviewer 07/18/2025 11:00 AM; Condition has been reviewed. Thx

    07/18/2025 B 2 06/XX/2025 FL 1 13 C   B   C   B   A   A   A   A     Exempt 1
12025050477 XX XX XX 7144519 380 06/25/2025 Credit UW Other   UW Other - UW - Lease Agreements   A copy of the rental lease agreement covering the most recent 12-month period for the borrower’s primary departure residence at XXwas not provided; required to document housing history from a private landlord.   Exception approval received/ July rent paid in cash/ Compensating Factors - 16 mos reserves, residual income $3,000, score 696       07/15/2025 B 2 06/XX/2025 IL 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025050477 XX XX XX 7144520 327 06/25/2025 Credit UW Credit   UW Credit - UW - Satisfactory 12 mth Rental   Proof of rent payment for the month of July 2024 is required, in the form of either canceled checks (front and back) or bank statements showing both account ownership and the rent payment debited by the landlord, to complete the 12-month housing history for the private landlord. Verification of July 2024 payment was missing.   Exception approval received/ July rent paid in cash/ Compensating Factors - 16 mos reserves, residual income $3,000, score 696       07/15/2025 B 2 06/XX/2025 IL 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025050477 XX XX XX 7144521 1013 06/25/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet required   Income worksheet to document the business bank statement analysis for the borrower, Tuan Truong was missing from the loan file. Received income worksheet     06/26/2025     A 1 06/XX/2025 IL 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025050112 XX XX XX 7144523 851 06/25/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Exception required for applicant and co-applicant both living rent free with someone other than a spouse.   Compensating Factors: FICO 789 40 points over the minimum score (700); greater than 4 months additional reserves (9 total); Residual income greater than $3,000.00; DTI (28.799%) is 10% or more under max allowed; No consumer lates in last 24 months.       06/25/2025 B 2 06/XX/2025 NJ 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
12025050112 XX XX XX 7144525 320 06/25/2025 Credit UW Assets   UW Assets - UW - Asset Other   Provide updated final closing disclosure to reflect the interest rate, P&I, and Projected Payments. HUD provided BP loans and do not require a CD.   Client 07/09/2025 09:35 AM; Per closing management, this is a BP loan and does not require a CD.

 Reviewer 07/09/2025 10:54 AM; Condition has been reviewed. Thx

07/09/2025     A 1 06/XX/2025 NJ 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
12025051991 XX XX XX 7144372 201 06/23/2025 Credit Hazard Insurance   Hazard Insurance - is missing.   Please provide the Hazard Policy. Information provided     06/30/2025     A 1 06/XX/2025 NV 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025052398 XX XX XX 7144629 851 06/26/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Missing a complete 12-month payment history. Housing history in file documents a 9-month primary housing history and per guidelines first time investors are required to document no housing late payments during the past 12 months.   Exception granted for insufficient primary residence housing history verification. Compensating Factors: reserves $207,783.55 which is 42.92 mo. which is over 4 months required with a loan amount over $1 million, DTI more then 10% under the max allowed (DTI 15.92%).  Client 07/22/2025 11:30 PM; Please find exception for your review. Thanks so much.

 Reviewer 07/23/2025 04:45 AM; Condition has been reviewed. Thx

    07/23/2025 B 2 06/XX/2025 PA 3 1 C   B   C   B   N/A N/A A   A     Exempt 1
12025050218 XX XX XX 7144702 330 06/26/2025 Credit UW Credit   UW Credit - UW - Credit Other   Fraud Report missing from file. Fraud Report is a requirement for all files. Received clear fraud report     06/30/2025     A 1 06/XX/2025 NJ 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025041546 XX XX XX 7145903 433 07/01/2025 Credit UW Assets   UW Assets - UW - Short funds to close   File is short total funds to close and reserves required. Funds to close were $3,553.63 and the required reserves were $9,754.91. Only $11,743.01 was verified, leaving a shortage of $1,565.53.   Exception approval received for short reserves/ Comp Factors - Residual income $4,000, Fico 740       08/04/2025 B 2 06/XX/2025 NJ 1 3 C   B   C   B   A   A   A   A     Exempt 1
12025060198 XX XX XX 7146337 328 07/03/2025 Credit UW Credit   UW Credit - UW - Satisfactory 12 mth Mortgage   Missing verification property is free and clear documented with a Property Profile Report and Proof property taxes are paid current for the most recent property tax year for the primary residence XX Property Profile and documentation from credit union provided.   Client 07/17/2025 10:19 AM; Please find property report &amp; confirmation of heloc w/-0- payment due &amp; paid off. Pending Sat piece. Thank you.

 Reviewer 07/17/2025 10:40 AM; Condition has been reviewed Thx

07/17/2025     A 1 06/XX/2025 GA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025060632 XX XX XX 7146326 330 07/03/2025 Credit UW Credit   UW Credit - UW - Credit Other   Provide signed letter regarding the following address listed on Borrower XX bank statement XX Address explanation as it is a P.O. Box.    Client 07/28/2025 09:14 AM; Please find address explanation as it is a P.O. Box. Thank you.

 Reviewer 07/28/2025 09:32 AM; Condition has been reviewed. Thx

07/28/2025     A 1 06/XX/2025 CA 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025051523 XX XX XX 7145840 884 07/01/2025 Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Testing complete     07/08/2025     A 1 06/XX/2025 FL 1 13 C   A   A   A   C   A   A   A     Exempt 1
12025051523 XX XX XX 7145841 895 07/01/2025 Compliance Compliance   Compliance - TRID CD- Need proof CD was received 3 days prior to consummation   For CD issued 6/16. Documents provided     07/08/2025     A 1 06/XX/2025 FL 1 13 C   A   A   A   C   A   A   A     Exempt 1
12025051523 XX XX XX 7145842 898 07/01/2025 Compliance Compliance   Compliance - TRID- Fee Tolerance Violation   Loan is failing 0% tolerance for the decrease in the Lender Credit on the final CD.  There is no COC for this disclosure, however, there is a COC dated 6XX mentioning a revised disclosure dated 6/XX that is missing. Violation amount is $983.  Need a PCCD with cure, lox to borrower, proof of refund, and evidence of payment shipped, all within 60 days of consummation. Documents provided     07/08/2025     A 1 06/XX/2025 FL 1 13 C   A   A   A   C   A   A   A     Exempt 1
12025052166 XX XX XX 7146368 389 07/05/2025 Credit UW Credit   UW Credit - UW - Fraud Alert documentation   Missing fraud report with all high and medium alerts cleared. The fraud report provided does not reflect all alerts as cleared. CoreLogic report provided    Client 08/04/2025 04:22 PM; Please see final clear fraud guard. Thank you.

 Reviewer 08/05/2025 04:50 AM; Condition has been reviewed. Thx

08/04/2025     A 1 06/XX/2025 NC 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025052166 XX XX XX 7146369 1014 07/05/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet self employed   Provide bank statement analysis worksheet for the borrower. Bank statement income work sheet provided    Client 08/04/2025 04:22 PM; Income calc uploaded. Thank you so much.

 Reviewer 08/05/2025 04:50 AM; Condition has been reviewed. Thx

08/04/2025     A 1 06/XX/2025 NC 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025052166 XX XX XX 7146370 1018 07/05/2025 Credit UW Income/Employment   UW Income/Employment - UW - Self-Employed verify business   Provide verification of business existence within 10 business days of close through a disinterested 3rd party. SOS in file is not dated. Internet print out reflects Status as Active    Client 08/04/2025 04:28 PM; Please find VVOE for your review prior to closing. Thank you.

 Reviewer 08/05/2025 04:50 AM; Condition has been reviewed. Thx

08/04/2025     A 1 06/XX/2025 NC 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025052166 XX XX XX 7146371 326 07/05/2025 Credit UW Credit   UW Credit - UW - Evidence Satisfaction of Debt   UW Credit UW - Evidence Satisfaction of Debt COMMENT: The following accounts were marked as to be paid at or prior to closing, however evidence the accounts were paid off was not provided: XX Per 1008 & 1003 all debts included & loan qualified with same.    Client 08/04/2025 04:43 PM; Please find 1008 &amp; 1003 reflecting all debts included &amp; loan qualified with same. Thank you.

 Client 08/04/2025 04:45 PM; Please find 1008 attached with all debts included in back-end DTI. Thank you.

 Reviewer 08/05/2025 04:51 AM; Condition has been reviewed. Thx

 Reviewer 08/05/2025 04:51 AM; Condition has been reviewed. Thx

08/05/2025     A 1 06/XX/2025 NC 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025052169 XX XX XX 7146383 389 07/06/2025 Credit UW Credit   UW Credit - UW - Fraud Alert documentation   Missing fraud report with all high and medium alerts cleared. The fraud report provided does not reflect all alerts as cleared. Received Alerts Summary     07/15/2025     A 1 06/XX/2025 TX 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025052169 XX XX XX 7146384 330 07/06/2025 Credit UW Credit   UW Credit - UW - Credit Other   Missing documentation of the EIN/TIN for the limited liability company. Information provided     07/15/2025     A 1 06/XX/2025 TX 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025052169 XX XX XX 7146422 1013 07/07/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet required   Missing the asset depletion income calculation worksheet. Received AU income calculation     07/15/2025     A 1 06/XX/2025 TX 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025052169 XX XX XX 7145998 72 07/02/2025 Credit Closing Package   Closing Package -    Business Operating Agreement or Articles of Incorporation are missing from file. Documents provided     07/09/2025     A 1 06/XX/2025 TX 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025052169 XX XX XX 7145999 862 07/02/2025 Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - Other:   Exhibit A is missing. The Exhibit A in file is blank. Documents provided     07/09/2025     A 1 06/XX/2025 TX 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025052206 XX XX XX 7146681 320 07/08/2025 Credit UW Assets   UW Assets - UW - Asset Other   Provide documentation verifying gift funds were transferred from the Donor to the Title Company. Per Client guides, if transferred directly to closing agent gift funds must be documented in the form of a certified check; a cashier’s check, or other official check (e.g., wire confirmation). A prior to funding (PTF) condition to support that the gift shows on the Closing Disclosure (CD) or Settlement Statement. Wire document received confirms gift from Donor     07/09/2025     A 1 06/XX/2025 TX 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
12025052206 XX XX XX 7146685 998 07/08/2025 Credit UW Other   UW Other - UW - Title Commitment is missing or requires correction.   Provide updated title verifying the following mortgage as been released and omitted from title. Sch C #XX to XX for $189,700 dated 12/XX/2017 Title Policy received does not reflect this mortgage     07/22/2025     A 1 06/XX/2025 TX 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
12025060412 XX XX XX 7146450 1013 07/07/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet required   Missing the income calculation worksheet to support the qualifying income used in the bank statement analysis. Income work sheet provided    Client 07/14/2025 04:00 PM; Please find the income calc worksheet uploaded for your review. Thank you.

 Reviewer 07/14/2025 04:38 PM; Condition has been reviewed. Thx

07/14/2025     A 1 06/XX/2025 SC 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025051575 XX XX XX 7146415 1055 07/07/2025 Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   The P&L statement used for income qualification is missing from the loan file. The credit review is on hold until documents are received. Documents provided   Client 07/14/2025 02:09 AM; Package Uploaded on 07/01/2025

 Reviewer 07/14/2025 04:20 AM;

 Reviewer 07/14/2025 10:15 AM; Hello&#x0D;
Compliance review has been completed.&#x0D;
&#x0D;
Thanks

07/14/2025     A 1 06/XX/2025 FL 1 13 A   A   A   A   A   A   A   A     Exempt 1
12025061137 XX XX XX 7146362 1014 07/05/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet self employed   Provide bank statement analysis worksheet. Received income worksheet     07/07/2025     A 1 06/XX/2025 CA 1 1 C   A   C   A   C   A   A   A     Exempt 1
12025061137 XX XX XX 7145981 884 07/02/2025 Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     07/08/2025     A 1 06/XX/2025 CA 1 1 C   A   C   A   C   A   A   A     Exempt 1
12025061137 XX XX XX 7145982 895 07/02/2025 Compliance Compliance   Compliance - TRID CD- Need proof CD was received 3 days prior to consummation   Revised CD issued on 6/XX/25 via USPS wasn't issued at or before consummation Information provided     07/08/2025     A 1 06/XX/2025 CA 1 1 C   A   C   A   C   A   A   A     Exempt 1
12025051938 XX XX XX 7146832 884 07/10/2025 Compliance Compliance   Compliance - Pending Internal completion of compliance fee tests.  Additional conditions may apply.     Information provided     07/18/2025     A 1 07/XX/2025 FL 1 1 C   A   A   A   C   A   A   A     Exempt 1
12025051938 XX XX XX 7146833 895 07/10/2025 Compliance Compliance   Compliance - TRID CD- Need proof CD was received 3 days prior to consummation   Need proof Initial CD was received 3 days prior to consummation. CD dated 6/XX sent via USPS Information provided     07/18/2025     A 1 07/XX/2025 FL 1 1 C   A   A   A   C   A   A   A     Exempt 1
12025052062 XX XX XX 7147091 1014 07/12/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income calculation worksheet self employed   Provide bank statement analysis worksheet for both businesses utilized for the calculation of the borrower's income. Received income worksheet for both incomes     07/15/2025     A 1 07/XX/2025 MI 1 1 C   A   C   A   A   A   A   A     Exempt 1
12025060695 XX XX XX 7146843 1055 07/10/2025 Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   Provide the bank statement calculation used for the borrower's SE income to determine which deposits were used for income. The loan approval indicates the 12 month business bank statements were utilized for income, but only personal bank statements were provided. Documents uploaded did not provide required documents. Restating deficiency to stop SLA.   Reviewer 07/11/2025 11:39 AM; Documents uploaded did not provide required documents. Restating deficiency to stop SLA.

07/10/2025     A 1 06/XX/2025 FL 1 1 A   A   A   A   A   A   A   A     Exempt 1
12025060695 XX XX XX 7146989 1055 07/11/2025 Credit Missing Images   Missing Images - Loan Review is not Final. On Hold for Missing Critical Documentation   Provide the bank statement calculation used for the borrower's SE income to determine which deposits were used for income. The loan approval indicates the 12 month business bank statements were utilized for income, but only personal bank statements were provided. Documents received     07/14/2025     A 1 06/XX/2025 FL 1 1 A   A   A   A   A   A   A   A     Exempt 1
12025061004 XX XX XX 7146050 1058 07/03/2025 Compliance Compliance   Compliance - Need Evidence of Borrower Intent to Proceed     Information provided     07/15/2025     A 1 06/XX/2025 FL 2 13 C   A   A   A   C   A   A   A     Exempt 1
12025061193 XX XX XX 7147107 378 07/12/2025 Credit UW Other   UW Other - UW - Initial/Final 1003 incomplete/missing   Missing the final loan application (1003) for the subject transaction; only the initial signed commercial loan application was provided. Final loan application provided    Reviewer 07/24/2025 03:19 PM; The 1003 provided is dated 6/xx/25 and appears to be the initial 1003 as the note date is 6/xx/25.

08/05/2025     A 1 06/XX/2025 FL 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
12025061193 XX XX XX 7147108 380 07/12/2025 Credit UW Other   UW Other - UW - Lease Agreements   Missing the current fully executed lease agreement for the borrower's primary residence. XX Borrower is renting from a  Private landlord, XX. Per guidelines, If was/is renting from a private party, request leases for each address to cover the most  recent 12-month period, along with verification of timely payments made (either canceled checks front and back or bank statements). Only the bank debits were provided. Payments are acceptable history of rent payments; Lease provided support rent payments     08/05/2025     A 1 06/XX/2025 FL 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
12025061193 XX XX XX 7147109 327 07/12/2025 Credit UW Credit   UW Credit - UW - Satisfactory 12 mth Rental   Missing documentation The borrower is the owner of the following asset account XX ending in XX. Per guidelines, verification of timely rent payments is required for private Verifications of Rent (VOR), which must include either canceled checks (front and back) or bank statements showing both account ownership and payments debited by the landlord. A transaction printout was provided to document the February 2025 rent payment; however, it does not reflect the borrower’s name. Therefore, the account cannot be confirmed as belonging to the borrower. Received account with name      07/17/2025     A 1 06/XX/2025 FL 3 1 D   A   D   A   N/A N/A A   A     Exempt 1
12025051679 XX XX XX 7147112 879 07/12/2025 Compliance Application   Application - Other:   The declarations page for the co-borrower XX is blank. Information provided   Reviewer 07/14/2025 11:00 AM; No documentation provided

07/17/2025     A 1 07/XX/2025 SC 2 13 C   A   A   A   C   A   A   A     Exempt 1
12025051780 XX XX XX 7147114 998 07/13/2025 Credit UW Other   UW Other - UW - Title Commitment is missing or requires correction.   Provide updated title commitment in an amount greater than or equal to the subject loan amount. Title coverage provided in the amount of $XX is less than the $XX loan amount. Received revised title     07/15/2025     A 1 06/XX/2025 NY 3 3 D   A   D   A   N/A N/A A   A     Exempt 1
12025051737 XX XX XX 7146946 862 07/10/2025 Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - Other:   Exhibit A is missing. The Exhibit A in file is blank. Please provide, along with LOI to re-record. Information provided     07/16/2025     A 1 07/XX/2025 NJ 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025060792 XX XX XX 7147072 862 07/11/2025 Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - Other:   Exhibit A is missing. The Exhibit A in file is blank. Please provide, along with LOI to re-record. Information provided   Reviewer 07/21/2025 09:31 AM; NO documentation provided

 Reviewer 07/22/2025 09:45 AM; Escalated for review

07/23/2025     A 1 07/XX/2025 NJ 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025050632 XX XX XX 7148194 851 07/19/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Exception required due to borrower living rent free with other than spouse (parents) since 12/1/2005   Exception allowing borrower living rent free with other than spouse (parents) since 12/xx/2005. Compensating Factors: FICO 711 minimum required 700, reserves $104,392.54 (13.97 months) required 3 months, self-employed >5 years in same line of business.        07/19/2025 B 2 06/XX/2025 FL 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025050632 XX XX XX 7148195 336 07/19/2025 Credit UW Income/Employment   UW Income/Employment - UW - Income Other   Provide bank statement income calculation work sheet. Received bank statement income worksheet     07/28/2025     A 1 06/XX/2025 FL 1 1 C   B   C   B   A   A   A   A     Exempt 1
12025041535 XX XX XX 7148252 851 07/21/2025 Credit UW Qualifications   UW Qualifications - UW – Exception needed   Exception required to use appraised value of $XXdue to subject property was recently listed for $XX.   Compensating Factors: Greater than 3 tradelines rated for more than 5 years; No credit lates in greater than 24 months;        07/21/2025 B 2 06/XX/2025 TX 3 3 C   B   C   B   N/A N/A A   A     Exempt 1
12025050190 XX XX XX 7149517 967 07/29/2025 Credit Compliance   Compliance - CD- Dated incorrectly (Issue Date, Closing Date, Disbursement Date)   The HUD-1 reflected the disbursement date as 06/XX/2025; however, the Deed of Trust/Mortgage was signed on 06/XX/2025. Need a HUD with corrected disbursement and funding dates to be on or after 06/XX/2025. Information provided     08/04/2025     A 1 06/XX/2025 FL 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025050190 XX XX XX 7149559 330 07/29/2025 Credit UW Credit   UW Credit - UW - Credit Other   All judgments and liens must be paid in full prior to or at closing.   Comp Factors:1. > 3 Tradelines Rated for > 5 Yrs. Bank statements provided have a balance of $112963.70 showing borrower has sufficient funds to pay off the judgement.  Reviewer 07/29/2025 05:25 PM; Permission to leave Judgment of $8,400 on xx as unpaid

    07/29/2025 B 2 06/XX/2025 FL 3 13 C   B   C   B   N/A N/A A   A     Exempt 1
12025051533 XX XX XX 7149464 330 07/28/2025 Credit UW Credit   UW Credit - UW - Credit Other   Approval Certificate dated 06/XX/25 shows loan amt $XX. Note states $XX. AC shows interest rate 7.625% Note states 7.25%. Revised loan approval received with Loan $272,800 and 7.25%     07/30/2025     A 1 06/XX/2025 MD 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025051533 XX XX XX 7149267 862 07/25/2025 Credit Deed of Trust/Mortgage   Deed of Trust/Mortgage - Other:   Exhibit A is missing. The Exhibit A in file is blank. Please provide, along with LOI to re-record.       07/30/2025     A 1 06/XX/2025 MD 3 1 C   A   C   A   N/A N/A A   A     Exempt 1
12025051570 XX XX XX 7149705 902 07/30/2025 Compliance Compliance   Compliance - Pending internal completion of TRID compliance review for disclosure timing and or fee tolerance comparisons.  Additional conditions may apply.     Testing complete     08/04/2025     A 1 06/XX/2025 TX 1 1 C   A   A   A   C   A   A   A     Exempt 1
12025051570 XX XX XX 7149706 973 07/30/2025 Compliance Compliance   Compliance - CD- Other   Provide evidence CD dated 6/XX/2025 was rec'd by the borrower at least 4 days prior to consummation date of 6/XX/2025. Documents provided     08/04/2025     A 1 06/XX/2025 TX 1 1 C   A   A   A   C   A   A   A     Exempt 1
12025051570 XX XX XX 7149707 1058 07/30/2025 Compliance Compliance   Compliance - Need Evidence of Borrower Intent to Proceed     Documents provided     08/04/2025     A 1 06/XX/2025 TX 1 1 C   A   A   A   C   A   A   A     Exempt 1