EX-99.06 7 ex99-06.htm AMC EXCEPTION GRADES REPORT

 

Velocity Commercial Capital Loan Trust 2022-1 ABS-15G

 

 

Exhibit 99.06

 

 

 

 

Exception Grades                                                      
                                                       
AMC Loan ID Customer Loan ID Edgar Loan ID Investor Loan Number Loan Exception ID Exception ID Exception Date Exception Type Exception Category Exception Subcategory 15E Category Exception Exception Detail Exception Information Compensating Factors Compensating Factor Information Applying Party Follow-up Comments Cleared Date Cured Date Waived Date Exception Level Grade Exception Level Rating Note Date Purpose Exception Remediation Overall
Final Loan Grade		 Credit
Final Loan Grade		 Compliance
Final Loan Grade		 Property
Final Loan Grade		 Originator QM ATR Status TPR QM ATR Status Is Curable
XXXX XXXX 7000399   23952329 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing law & ord coverage. comp factor: Reserves, FICO Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for missing law & ord coverage. comp factor: Reserves, FICO
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000399   23952338 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for  LTV ( of XX% to FT Investor on multifamily purchase.)  comp factor: Reserves, FICO Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for LTV ( oXX% to FT Investor on multifamily purchase.) comp factor: Reserves, FICO
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000397   23953086 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV ( of XX% to FT Investor on commercial condo purchase.) comp factor: FICO, reserves The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for LTV ( oXX% to FT Investor on commercial condo purchase.) comp factor: FICO, reserves
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000397   23953090 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for missing named storm coverage.  comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for missing named storm coverage. comp factor: FICO
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000444   24048630 XXXX 12/10/2021 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Outstanding chargeoffs > $XXXk Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves $XXX. Owner,Originator Pre-Close Reviewer Comment (2021-12-29): Exception waived.  Approved exception received in trailing documents for  charge off > $20,000.  Com factor, strong reserves.


Buyer Comment (2021-12-28): Exception noted on uploaded approval
     12/29/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000444   24048906 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   LTV of XX% on investor commercial condo purchase is not documented as an approved exception waiver Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves $XXX. Owner,Originator Pre-Close Reviewer Comment (2021-12-29): Exception waived.  Approved exception received in trailing documents for LTV oXX%.  Comp factor. strong reserves.


Buyer Comment (2021-12-28): exception noted on uploaded approval
     12/29/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000311   23962068 XXXX 12/10/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   approved exception at origination for missing VOR- primary pay history. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-07): approved exception at origination for missing VOR- primary pay history. comp factor: FICO
     12/07/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000311   24030880 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on investor mixed use purchase. ) Comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-07): Approved exception at origination for FT investor ( aXX% LTV on investor mixed use purchase. ) Comp factor: FICO
     12/07/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000372   24050590 XXXX 12/10/2021 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Outstanding tax liens > $XXXk per credit report.  an approved exception waiver is not documented. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-29): Approved exception for tax lien received in trailing documents.  Com factor, seasoned investor.


Buyer Comment (2021-12-29): Exception noted on uploaded approval


Reviewer Comment (2021-12-22): Unable to clear, documents uploaded did not satisfy this exception.
     12/29/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000372   24050628 XXXX 12/10/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Down Payment Funds not provided   1) unable to verify underwritten funds to close. ( approval assets section is blank) 2) missing VOF Stmts for sourcing of funds to close. ( no financial subdirectory contained in file provided) Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-30): Approved exception for unverified source of funds brought to closing received in trailing documents.  Comp factor, seasoned investor.  Updated approval reflects amount brought to close in the asset section.


Buyer Comment (2021-12-29): uploaded approval updated to show funds brought to closing.  An exception has been written for unverified funds
     12/30/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000372   24050646 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.90x on Multifamily purchase with loan > $XXX. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for DSCR of 0.90x on Multifamily purchase with loan > $XXX. comp factor: seasoned investor
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000372   24050652 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for waiver of ins impounds. comp factor: seasoned investor
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000372   24050676 XXXX 12/10/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing leases for Traditional property type with loan > $XXX. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-30): Approved exception allowing loan without copies of Lease Agreements received in trailing documents.  Comp factor, seasoned investor.


Buyer Comment (2021-12-29): Exception noted on uploaded approval
     12/30/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000372   24050751 XXXX 12/10/2021 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Missing EOI for property hazard coverage.  only liability EOI found in file. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-26): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Valid EOI for property Hazard coverage effective as of origination through present .  comp Factor: Seasoned investor


Buyer Comment (2022-01-26): exception noted


Reviewer Comment (2021-12-30): exception remains-  Uploaded EOI has an effective date of XX/XX/XXXXXX ( Future date).  Policy and endorsement with effective date XX/XX/XXXXXX ( effective for subject note origination) is required.


Buyer Comment (2021-12-29): Hazard insurance begins on page 15 of the uploaded, coverage is broken up by building number and sufficiently covers the replacement cost as shown on the appraisal
     01/26/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000366   24318277 XXXX 12/30/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for unrated primary housing history.  Payment made in cash.  Comp factors, seasoned investor and high FICO. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record.

FICO 730.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2021-12-30): Approved exception at origination for unrated primary housing history. Payment made in cash. Comp factors, seasoned investor and high FICO.
     12/30/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000340   24047875 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor, seasoned business Borrower's Experience/Track Record CF- Seasoned business Owner,Originator Pre-Close Reviewer Comment (2021-12-09): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor, seasoned business
     12/09/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000340   24048218 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1) both policies Missing law & ord coverage 2) owners policy is missing $XXX occ/$XXX gen ag liability Borrower's Experience/Track Record CF- Seasoned business Owner,Originator Pre-Close Reviewer Comment (2021-12-30): Approved exception for missing law and Ordinance coverage received in trailing documents.  Comp factors, seasoned business and seasoned investor.  Liability coverage provided in the condo association insurance for 1mm/2mm agg.


Buyer Comment (2021-12-29): Sufficient liability coverage with HOA policy, Exceptoin made for Law and Ord


Reviewer Comment (2021-12-21): No additional insurance uploaded with trailing documents.  Unable to clear exception.
     12/30/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000369   24031065 XXXX 12/10/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR- Primary; borrower lives rent free.  comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2021-12-07): Approved exception at origination for missing VOR- Primary; borrower lives rent free. comp factor: FICO
     12/07/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000369   24031067 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing Law & ord coverage.  comp factor: FICO, seasoned investor The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2021-12-07): Approved exception at origination for missing Law & ord coverage. comp factor: FICO, seasoned investor
     12/07/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000369   24031073 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO, Seasoned investor


Buyer Comment (2021-12-30): UPloaded


Reviewer Comment (2021-12-22): Unable to clear, no updated approval in the additional document upload.
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000398   23956031 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR ( of 0.49x on investor warehouse with loan > $XXX) comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for DSCR ( of 0.49x on investor warehouse with loan > $XXX) comp factor: FICO
     12/06/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000398   23956273 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO


Buyer Comment (2021-12-30): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000398   23956378 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   $XXX/ occ $XXX gen ag liability is less than $XXX/occ and $XXX gen agg required per guidelines. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for liability coverage amount   comp Factor: FICO


Buyer Comment (2021-12-30): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000342   24053810 XXXX 12/10/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Unable to substantiate comp factors for approved Exception for missing lease ( tenant is on month to month  lease.) comp factors: Reserves, FICO however Reserve< 1 mo and FICO is aged > 60 days The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing lease.    comp Factor: FICO ( soft pull dated XX/XX/XXXX reflects 773 mid score)


Buyer Comment (2021-12-30): Uploaded a "soft pull" of borrowers credit. This report can not be used to update the credit report the loan closed with due to timing and funding date.  However it does support the use of High Fico as a compensating factor. for exceptions made.  Updated Loan Approval uploaded


Buyer Comment (2021-12-30): Uploaded a "soft pull" of borrowers credit. This report can not be used to update the credit report the loan closed with due to timing and funding date.  However it does support the use of High Fico as a compensating factor. for exceptions made
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000342   24054213 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Unable to substantiate comp factors for approved Exception for First Time investor ( @XX% LTV on owner-user mixed use purchase) comp factor: Reserves, FICO however Reserve< 1 mo and FICO is aged > 60 days The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for First Time investor (XX% LTV on owner-user mixed use purchase).    comp Factor: FICO ( soft pull dated XX/XX/XXXX reflects 773 mid score)


Buyer Comment (2021-12-30): Uploaded a "soft pull" of borrowers credit. This report can not be used to update the credit report the loan closed with due to timing and funding date.  However it does support the use of High Fico as a compensating factor. for exceptions made
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000342   24054216 XXXX 12/10/2021 Credit Asset Asset Calculation / Analysis Asset Guideline Requirement: Available for Reserves discrepancy. Calculated Available for Reserves of  is less than Guideline Available for Reserves of . FT investor with < 1 Mo reserves.  UW funds to close of  $XXXK per approval assets section and funds req'd to close of $XXXk per final settlement stmt = $XXX reserves or < 1 mo P&I The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for FT investor with < 3 mos reserves.    comp Factor: FICO ( soft pull dated XX/XX/XXXX reflects 773 mid score)


Buyer Comment (2021-12-30): Uploaded a "soft pull" of borrowers credit. This report can not be used to update the credit report the loan closed with due to timing and funding date.  However it does support the use of High Fico as a compensating factor. for exceptions made
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000342   24054221 XXXX 12/10/2021 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Credit report aged > 60 days.  ( report in file dated XX/XX vs note date of XX/XX .   expiry date of XX/XX per approval WS ) The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for aged credit report.    comp Factor: FICO ( soft pull dated 12/31/21 reflects 773 mid score)


Buyer Comment (2021-12-30): Uploaded a "soft pull" of borrowers credit. This report can not be used to update the credit report the loan closed with due to timing and funding date.  However it does support the use of High Fico as a compensating factor. for exceptions made
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000307   23954235 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV (of XX% {XX% CLTV} for FT investor NOO office purchase)  comp factor: Reserves, FICO, DSCR The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for LTV (oXX% for FT investor NOO office purchase) comp factor: Reserves, FICO, DSCR
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000307   23954242 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( At XX% LTV  / XX% CLTV on investor office purchase)  comp factor: Reserves, FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for FT investor ( AXX% LTV XX% CLTV on investor office purchase) comp factor: Reserves, FICO
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000307   23954654 XXXX 12/10/2021 Credit Credit Miscellaneous Guideline Credit Exception:   Seller second note term of 10 yrs interest only is < note fixed rate period of 30 yrs The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for 2nd note term  comp Factor: Reserves, FICO


Buyer Comment (2021-12-30): Exception noted on uploaded approval


Reviewer Comment (2021-12-22): Unable to clear.  No new approval waiving exception or documents clearing exception in the trialing document upload.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000389   24053673 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-09): Approved exception at origination for waiver of insurance impounds. comp factor: FICO
     12/09/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000389   24053674 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing law & ord coverage. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-09): Approved exception at origination for missing law & ord coverage. comp factor: FICO
     12/09/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000389   24053676 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( @ XX% LTV on multifamily purchase) . comp factor: Reserves, FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-09): Approved exception at origination for FT investor ( XX% LTV on multifamily purchase) . comp factor: Reserves, FICO
     12/09/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000313   24054222 XXXX 12/10/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for expired leases. comp factor: Seasoned investor Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for expired leases. comp factor: Seasoned investor
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000313   24054223 XXXX 12/10/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOM- primary. comp factor: Seasoned investor Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for Missing VOM- primary. comp factor: Seasoned investor
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000309   24030994 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 643.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-07): Approved exception at origination for FICO of 643. comp factor: Seasoned investor
     12/07/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000309   24030995 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.96x < 1.0x req'd for owner user office property.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-07): Approved exception at origination for DSCR of 0.96x < 1.0x req'd for owner user office property. comp factor: Seasoned investor
     12/07/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000309   24031016 XXXX 12/10/2021 Credit Credit Miscellaneous Guideline Credit Exception:   Underwritten vacancy ofXX% per analyst review is < guideline min vacancy assumption ofXX% Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for UW vacancyXX%.  comp Factor: Seasoned Business


Buyer Comment (2021-12-31): Exception noted on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000309   24031017 XXXX 12/10/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease agreement for traditional property with loan > $XXX Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing lease.  comp Factor: Seasoned Business


Buyer Comment (2021-12-31): Exception noted on uploaded approval


Reviewer Comment (2021-12-22): Unable to clear.  Missing documents not part of the trailing document upload.
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000359   23955258 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Coverage amount of $XXX is < loan amount of $XXX and appraisal replacement cost of $XXX. ( Guaranteed replacement cost is not evidenced) The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient property coverage amount.  comp Factor: FICO


Buyer Comment (2022-01-02): Exception noted on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000359   24068345 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for waiver of insurance impounds. comp factor: FICO
     12/11/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000359   24068346 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on cashout refi of owner user Auto service property . comp factor:  Seasoned Business, DSCR Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for LTV oXX% on cashout refi of owner user Auto service property . comp factor: Seasoned Business, DSCR
     12/11/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000358   24043391 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on owner user retail purchase.) comp factor: Reserves, FICO Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for FT investor ( aXX% LTV on owner user retail purchase.) comp factor: Reserves, FICO
     12/08/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000355   24030870 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on investor mixed use purchase. ) Comp factor: FICO, Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 CF_ reserves

CF_ Reserves		 Owner,Originator

Owner,Originator Pre-Close		 Reviewer Comment (2021-12-07): Approved exception at origination for FT investor ( aXX% LTV on investor mixed use purchase. ) Comp factor: FICO, Reserves
     12/07/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000412   24030965 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 1.24x  <guideline min DSCR of 1.25x.  comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2021-12-07): Approved exception at origination for DSCR of 1.24x <guideline min DSCR of 1.25x. comp factor: seasoned investor
     12/07/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000412   24030966 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor:  FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-07): Approved exception at origination for waiver of insurance impounds. comp factor: FICO
     12/07/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000412   24030993 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Coverage amount of $XXX is < loan amount of $XXX and Appraisal replacement cost of $XXX. (Guaranteed replacement cost is not evidenced) The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for property coverage amount.    comp Factor: FICO


Buyer Comment (2022-01-02): exception noted on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000354   24041840 XXXX 12/10/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR/VOM-primary. comp factor: Seasoned investor, Seasoned Business Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for Missing VOR/VOM-primary. comp factor: Seasoned investor, Seasoned Business
     12/08/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000354   24400663 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   LTV of XX% on cashout of owner user office property is not documented as an approved exception waiver Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV oXX% on cashout of owner user office property.  comp Factor: Seasoned investor, FICO
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000419   24051337 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing Law & ord coverage Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-02): Exception noted on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000317   24042791 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1) missing bus income/ loss of rents coverage. 2) missing law & ord coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-05): Exception 2) waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: FICO


Buyer Comment (2022-01-03): Business income shown throughout the policy.  Exception written for missing law and ord
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000317   24042818 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Cashout on property held < 12 mos. ( per title, borrower acquired title in XXX XXXX from current tenant ) The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 12 mos.  comp Factor: FICO


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000317   24042852 XXXX 12/10/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   XX% Vacancy is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease/ XX% vacancy.  comp Factor: FICO


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000390   24054042 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing law & ord coverage. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-09): Approved exception at origination for missing law & ord coverage. comp factor: FICO
     12/09/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000390   24054043 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Unable to substantiate use of Seasoned investor as sole comp factor for Approved exception   for waiver of insurance impounds.  ( Borrower is a First time investor per approval WS) The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for lwaiver of ins impounds   comp Factor: FICO


Buyer Comment (2022-01-03): Exception corrected on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000390   24054046 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Unable to determine underwritten comp factor for approved exception at origination for First Time Investor ( @XX% LTV on investor multifamily purchase). Status is 'unmitigated'' The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for First Time Investor (XX% LTV on investor multifamily purchase).   comp Factor: FICO


Buyer Comment (2022-01-03): Exception updated on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000323   24059978 XXXX 12/10/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for traditional property type with loan > $XXX Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing lease   comp Factor: Reserves


Buyer Comment (2022-01-12): Updated Approval


Reviewer Comment (2022-01-05): Exception remains- no comp factor provided on updated approval WS. status is 'unmitigated'


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000323   24060505 XXXX 12/10/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Non-Owner Occupancy Declaration not provided   Missing Business Purpose Certification document for subject mixed use property Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.

The representative FICO score exceeds the guideline minimum by XX points.		 CF- reserves

CF- FICO		 Owner,Originator

Owner,Originator		 Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing BP Certification document.   comp Factor:  FICO, Reserves


Buyer Comment (2022-01-12): Exception noted on uploaded approval


Reviewer Comment (2022-01-05): exception remains- no exception for missing BP cert found on uploaded approval doc.


Buyer Comment (2022-01-03): exception noted on uploaded approval
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000323   24060561 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   DSCR < 1.20x for investor mixed use property with loan > $XXX. ( evidence reflects borrower's business will occupy < XX% of GLA.; purpose should be investor) The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for DSCR < 1.20x.   comp Factor:  FICO


Buyer Comment (2022-01-12): Exception noted on uploaded approval


Reviewer Comment (2022-01-05): exception remains;  per MCP 5.3 a borrower must occupy a minimum oXX% of GBA to qualify as owner user


Buyer Comment (2022-01-03): Property is still owner user regardless of the percentage of occupancy
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000375   24031034 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on investor office purchase. ) comp factor:  DSCR, FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-07): Approved exception at origination for FT investor ( aXX% LTV on investor office purchase. ) comp factor: DSCR, FICO
     12/07/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000325   23961432 XXXX 12/10/2021 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Missing updated credit report ( report in file datedXX/XX/XXXXs aged > 60 days from note date of 11/5) Expiry date of 10/23 per approval. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days   comp Factor: LTV


Buyer Comment (2022-01-03): Exception noted on uploaded approval


Reviewer Comment (2021-12-22): Unable to clear.  No updated credit report or approval provided in trailing documents.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000325   23961495 XXXX 12/10/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for mossing VOR- Primary borrower lives rent free. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for mossing VOR- Primary borrower lives rent free. comp factor: seasoned investor
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000371   24399806 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   NEW- Waiver of ins impounds is not documented as an approved exception The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO, LTV


Buyer Comment (2022-01-12): Exception noted on uploaded approval
     01/14/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000371   24399870 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   NEW- Unable to determine comp factor for approved exception for override of statewide exclusion for Traditional property type located in IL status is 'unmitigated'. ( In addition to comp factor, please also provide lender affirmation of rationale for override of specific statewide prohibition on financing the subject property type) The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Override of XX State Exclusion on traditional property type   comp Factor: FICO


Seller Comment (2022-01-14): Although we don’t generally lend in XXXX, there isn’t anything in our MCP that prohibits us from making loans there. Additionally, this is allowable from a compliance and legal standpoint. The document attached was an outdated desktop procedure, so the MCP would override that.


Buyer Comment (2022-01-12): Approval has been updated in prior condition to reflect the correct occupancy and updated mitigating factors.  This is a low LTV loan on a borrower with a high fico score.  The borrowing entity is seasoned with 20+ years since formation..  This is a solid low risk loan.
     01/14/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000357   24054167 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV ( of XX% on multifamily purchase) Comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2021-12-09): Approved exception at origination for LTV ( oXX% on multifamily purchase) Comp factor: Seasoned investor, FICO
     12/09/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000316   23961899 XXXX 12/10/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR- Primary; borrower lives rent free. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF_ Seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-06): Approved exception at origination for Missing VOR- Primary; borrower lives rent free. comp factor: Seasoned investor, FICO
     12/06/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000316   23961900 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Missing Law & ord coverage. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF_ Seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-06): Approved exception at origination for Missing Law & ord coverage. comp factor: Seasoned investor, FICO
     12/06/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000316   23961901 XXXX 12/10/2021 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for unpaid judgements  > $5k. comp factor: Seasoned investor Borrower's Experience/Track Record CF_ Seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-06): Approved exception at origination for unpaid judgements > $5k. comp factor: Seasoned investor
     12/06/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000417   24052713 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Missing law & ord coverage. comp factor: Seasoned investor Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2021-12-09): Approved exception at origination for Missing law & ord coverage. comp factor: Seasoned investor
     12/09/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000356   24060648 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR (of 0.78x on owner user mixed use property with loan > $XXX) . comp factor: seasoned investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for DSCR (of 0.78x on owner user mixed use property with loan > $XXX) . comp factor: seasoned investor.
     12/10/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000356   24060654 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor
     12/10/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000356   24060765 XXXX 12/10/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing leases for traditional property with loan > $XXX. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/05/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000356   24061764 XXXX 12/10/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Letter of Intent not provided   Missing BP Disclosure Document for subject note Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing BP disclosure.  comp Factor: Seasoned investor


Buyer Comment (2022-01-24): Exception written
     01/24/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000348   24030932 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for insufficient liability coverage amount. comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for insufficient liability coverage amount. comp factor: Seasoned investor
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000348   24030933 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor,


Buyer Comment (2022-01-03): Exception noted on uploaded approval


Reviewer Comment (2021-12-22): Unable to clear.  Updated approval not provided in trailing documents.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000348   24384139 XXXX 01/04/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   FT Investor @ XX% LTV on owner user warehouse purchase. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for FT Investor aXX% LTV on owner user whse purchase.  comp Factor: FICO, Reserves
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000347   24043085 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for Rural subject property. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for Rural subject property. comp factor: Seasoned investor, FICO
     12/08/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000347   24043266 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing bus income/ loss of rents coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-03): Exception noted on uploaded approval


Reviewer Comment (2021-12-22): Unable to clear.  No additional insurance provided in trailing documents.
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000344   24044031 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: reserves


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000344   24044037 XXXX 12/10/2021 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Missing Condo master policy Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing EOI for condo master Policy.  comp Factor: Reserves


Buyer Comment (2022-01-12): Exception noted on upload approval. HO6 policy provided provides sufficient coverage
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000365   24049444 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.58x on multifamily refi with loan > $XXX. Comp factor:  FICO, Seasoned investor The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-09): Approved exception at origination for DSCR of 0.58x on multifamily refi with loan > $XXX. Comp factor: FICO, Seasoned investor
     12/09/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000365   24049590 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing law & ord coverage. Comp factor:  FICO, LTV The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-09): Approved exception at origination for missing law & ord coverage. Comp factor: FICO, LTV
     12/09/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000328   24037914 XXXX 12/10/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   Missing Purchase contract addendum modifying PP to $XXX Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves $XXX Owner,Originator Reviewer Comment (2022-01-26): Approved exception documents on updated approval received in trailing documents for missing Purchase contract addendum.  Comp factor, strong reserves.


Buyer Comment (2022-01-26): uploaded


Reviewer Comment (2022-01-25): Exceptions remains-  an approved exception waiver with acceptable comp factor is not captured on uploaded approval worksheet. ( Per guidelines 9.1 the purchase price per final settlement stmt must match contract.  )


Buyer Comment (2022-01-25): Waiver of purchase contract addendum is shown on the transaction section of uploaded approval


Reviewer Comment (2022-01-25): Please provide waiver.


Reviewer Comment (2022-01-25): Exception remains- Lender is unable to provide required purchase contract addendum


Buyer Comment (2022-01-25): Per Lender response, the Signed Final HUD is acknowledgement by both the buyer and the seller of the purchase price of the property. In XX this is used in lieu of an updated Purchase contract.  There is not exception to be made


Reviewer Comment (2022-01-14): Exception remains-  Per lender response they are unable to obtain the required updated contract documentation needed to cure.


Buyer Comment (2022-01-12): In XX the Final HUD acts as a final PP addendum.  I wont be able to obtain an addendum as the loan is closed and both parties signed the Final HUD acknowledging the purchase price.


Reviewer Comment (2022-01-04): exception remains- per MCP 9.1, the final settlement stmt Purchase price must agree with the purchase contract.


Buyer Comment (2022-01-03): Final HUD is signed by all parties and sufficient for acknowledging the change in purchase price
     01/26/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000328   24037944 XXXX 12/10/2021 Credit Credit Miscellaneous Guideline Credit Exception:   Approved exception at origination for Seller credit >XX%.  Comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for Seller creditXX%. Comp factor: Reserves
     12/08/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000328   24037953 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on investor mixed use purchase) .  Comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for FT investor ( aXX% LTV on investor mixed use purchase) . Comp factor: Reserves
     12/08/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000308   23954774 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   approved exception at origination For FT investor ( at XX% LTV on owner user auto service  purchase)  comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-06): approved exception at origination For FT investor ( aXX% LTV on owner user auto service purchase) comp factor: Reserves
     12/06/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000351   24054197 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing wind/hail coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.  comp Factor: LTV


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000327   24043962 XXXX 12/10/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR- primary; borrower lives rent free. comp factor:  Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for Missing VOR- primary; borrower lives rent free. comp factor: Seasoned investor, reserves
     12/08/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000327   24043965 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV (of XX% on investor commercial condo purchase) comp factor: Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for LTV (oXX% on investor commercial condo purchase) comp factor: Seasoned investor, Reserves
     12/08/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000327   24043966 XXXX 12/10/2021 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Approved exception at origination for credit reports aged > 60 days.  comp factor: Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for credit reports aged > 60 days. comp factor: Seasoned investor, Reserves
     12/08/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000327   24043969 XXXX 12/10/2021 Credit Guideline Guideline Issue Guideline Note loan amount is less than guideline minimum. Note loan amount of $XXX is less than guideline minimum loan amount of $XXX. Approved exception at origination for Loan amount o $90k on commercial condo property type. comp factor: Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-08): Approved exception at origination for Loan amount o $XXXk on commercial condo property type. comp factor: Seasoned investor, Reserves
     12/08/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000327   24043972 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Unable to determine underwritten comp factor for approved exception for missing law & ord coverage.  Status is 'unmitigated' Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-03): Exception corrected on uploaded approval


Reviewer Comment (2021-12-21): No additional insurance provided in trailing documents.  Unable to clear exception.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000361   24053261 XXXX 12/10/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( @ XX% LTV on multifamily purchase) comp factor: FICO, Reserves The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2021-12-09): Approved exception at origination for FT investor ( XX% LTV on multifamily purchase) comp factor: FICO, Reserves
     12/09/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000361   24053352 XXXX 12/10/2021 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Credit report aged > 60 days. Report in file dated XX/XX. subject note dated XX/XX ( Approval reflects credit expiry of XX/XX) Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days.    comp Factor: Reserves, FICO


Buyer Comment (2022-01-03): Exception noted on uploaded approval


Reviewer Comment (2021-12-21): A copy of the original credit report uploaded.  Unable to clear exception.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000345   23961614 XXXX 12/10/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor, FICO Borrower's Experience/Track Record CF_ Seasoned investor Owner,Originator Reviewer Comment (2021-12-06): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor, FICO
     12/06/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000387   24038844 XXXX 12/10/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Non-Owner Occupancy Declaration not provided   Missing either cert of Occ & Indemnity or owner Occ BP cert for subject note . The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Cert of Occ & Indemnity.  comp Factor: FICO


Buyer Comment (2022-01-20): Exception noted on uploaded approval.  Mitigated by borrowers high fico. borrower is also a seasoned investor using 1031 exchange funds for closing.  PRoperty will be occupied by borrowers business, but not owner occ.


Reviewer Comment (2022-01-14): Exception remains-  Uploaded document is the bus purpose certification and not the specified owner Occ BP cert as required  if occupied as primary residency.   or Cert of occ & indemnity if not occupied as primary residence per MCP appendix 1


Buyer Comment (2022-01-12): uploaded bp cert


Reviewer Comment (2022-01-04): Exception remains-  missing Owner Occ BP Cert.


Buyer Comment (2022-01-03): Cert of Occ andi indemnity not required for O/O mixed used property
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000443   24067627 XXXX 12/14/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing leases for traditional property type with loan > $XXX The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: FICO


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000396   24067748 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV ( of XX% on owner user retail purchase) comp factor: FICO, Reserves The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for LTV ( oXX% on owner user retail purchase) comp factor: FICO, Reserves
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000396   24067749 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.62x on owner user retail  purchase with loan of $XXX.   comp factor: FICO, Reserves The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for DSCR of 0.62x on owner user retail purchase with loan of $XXX. comp factor: FICO, Reserves
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000396   24067758 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor:  FICO


Buyer Comment (2022-01-03): Exceptions noted on uploaded approval


Buyer Comment (2022-01-03): uploaded certified estimated hud, this is sufficient for dry state closings


Buyer Comment (2022-01-03): uploaded
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000396   24067767 XXXX 12/14/2021 Credit Credit Miscellaneous Guideline Credit Exception:   Underwritten vacancy <XX% .  ( UW vacancy per analyst review wasXX%) Borrower's Experience/Track Record CF- seasoned business Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for UW vacancy < min.  comp Factor: Seasoned business


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000396   24067768 XXXX 12/14/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for traditional property type with loan > $XXX Borrower's Experience/Track Record CF- seasoned business Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing lease.  comp Factor: Seasoned business


Buyer Comment (2022-01-03): exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000396   24067783 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing law & ordinance coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor:  FICO


Buyer Comment (2022-01-03): exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000403   24068297 XXXX 12/14/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOM- primary ( in forbearance XX/XX ) comp factor: Reserves, FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for incomplete VOM- primary ( in forbearance XX/XX/XXXX ) comp factor: Reserves, FICO
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000403   24068298 XXXX 12/14/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for First time investor ( @XX% LTV on investor mixed use purchase  ) comp factor: Reserves, FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for First time investor (XX% LTV on investor mixed use purchase ) comp factor: Reserves, FICO
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000403   24068299 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds.  comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for waiver of ins impounds. comp factor: FICO
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000403   24068300 XXXX 12/14/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing leases for trad property type with loan > $XXX.  comp factor: Reserves, FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for missing leases for trad property type with loan > $600k. comp factor: Reserves, FICO
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000403   24068307 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Coverage amount of $XXX is < appraisal insurable value of $XXX and Loan amount of $XXX. guaranteed replacement cost is not evidenced. The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient property coverage amount   comp Factor: FICO


Buyer Comment (2022-01-12): uploaded.


Reviewer Comment (2022-01-04): exception remains- please provide either an approved exception waiver or replacement cost estimator demonstrating sufficient coverage to cure.


Buyer Comment (2022-01-03): Replacement cost coverage is shown on policy.  Per guidelines the endorsement does not need to contain the words "guaranteed"
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000350   24067802 XXXX 12/14/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR-primary; borrower lives rent free. comp factor:  Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for Missing VOR-primary; borrower lives rent free. comp factor: Reserves
     12/10/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000350   24067803 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 1.04x on multifamily refinance transaction. comp factor:  Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for DSCR of 1.04x on multifamily refinance transaction. comp factor: Reserves
     12/10/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000350   24067804 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor:  Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for waiver of ins impounds. comp factor: Reserves
     12/10/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000350   24067833 XXXX 12/14/2021 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Outstanding tax liens > $35k reported on credit report.  an approved exception waiver is not documented Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Outstanding tax liens > $XXk   comp Factor: reserves


Buyer Comment (2022-01-03): uploaded


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000350   24067873 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing law & ord coverage Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: reserves


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000363   24068334 XXXX 12/14/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Unable to determine comp factor for Approved exception for First-Time investor ( @XX% LTV on investor mixed use purchase to borrower with 655 FICO). comp factor: 1 is 'other' Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Approved exception for First-Time investor (XX% LTV on investor mixed use purchase to borrower with 655 FICO).   comp Factor: reserves


Buyer Comment (2022-01-12): Updated mitigating factors to > 3 mos reserves and pride of ownership. Borrower has supplieXX% own funds


Reviewer Comment (2022-01-04): Exception remains- Sole comp factor of strong reserves however based on cash to close per final settlement stmt, borrower has $XXk in reserves or < 4 mos P&I for FT investor


Buyer Comment (2022-01-03): Exception mitigated
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000363   24068335 XXXX 12/14/2021 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Unable to determine comp factor for Approved exception for limited open major tradelines. comp factor: 1 is 'other' Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.

The representative FICO score exceeds the guideline minimum by XX points.		 CF_ reserves

CF- Strong Credit history		 Owner,Originator Pre-Close

Owner,Originator		 Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for limited open tradelines  comp Factor: Reserves,   credit history


Buyer Comment (2022-01-12): Exception mitigated on uploaded approval with > 3mos reserves and overall strong credit history.  Score in not indicative of borrowers credit history (1x30 only) since inception.


Reviewer Comment (2022-01-04): Exception remains- Sole comp factor of strong reserves however based on cash to close per final settlement stmt, borrower has $11.2k in reserves or < 4 mos P&I for FT investor


Buyer Comment (2022-01-03): Exception mitigated on uploaded approval
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000363   24068336 XXXX 12/14/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR- primary; borrower lives rent free. comp factor: reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for missing VOR- primary; borrower lives rent free. comp factor:reserves
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000363   24068337 XXXX 12/14/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Proof of Residency Status not provided   Missing Greencard/ Visa/ Passport for resident alien borrower The representative FICO score exceeds the guideline minimum by XX points. CF- Strong Credit history Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Greencard for borrower  comp Factor:  credit history


Buyer Comment (2022-01-12): Exception mitigated on uploaded approval with overall strong US credit history.  Score in not indicative of borrowers credit history (1x30 only) since inception.


Reviewer Comment (2022-01-04): Exception remains- uploaded Employment auth is not a Visa nor Greencard as required per MCP  5.6


Buyer Comment (2022-01-03): Exception mitigated
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000363   24068338 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing Wind/hail coverage Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Pre-Close Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.
 comp Factor: reserves


Buyer Comment (2022-01-12): Exception mitigated on uploaded approval by borrowers overall credit history


Reviewer Comment (2022-01-04): Exception remains- Sole comp factor of strong reserves however based on cash to close per final settlement stmt, borrower has $XXXk in reserves or < 4 mos P&I for FT investor


Buyer Comment (2022-01-03): Exception noted on uploaded approval
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000321   24068327 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing Bus Income/ loss of rents coverage. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Bus income coverage.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-12): Exception noted on uploaded approval


Reviewer Comment (2022-01-04): Exception remains- no additional EOI provided. Approval uploaded is not for correct borrower/ loan


Buyer Comment (2022-01-03): uploaded
     01/14/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000321   24068328 XXXX 12/14/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination got Incomplete VOM- missing XX/XX payments. comp factor: reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Reviewer Comment (2021-12-11): Approved exception at origination got Incomplete VOM- missing XX/XX/XXXX payments. comp factor: reserves
     12/11/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000343   24067874 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for waiver of insurance impounds. comp factor: FICO
     12/10/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000380   24068314 XXXX 12/14/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing lease/ XX% vacant subject property. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2021-12-11): Approved exception at origination for missing lease/XX% vacant subject property. comp factor: Seasoned investor, FICO
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000451   24067457 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-10): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor
     12/10/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000451   24067553 XXXX 12/14/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for traditional property type with loan > $XXX. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-14): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: FICO


Buyer Comment (2022-01-12): uplaoded


Reviewer Comment (2022-01-04): Exception remains-   uploaded approval is not for subject borrower/ loan


Buyer Comment (2022-01-03): exception noted on uploaded approval
     01/14/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000314   24068323 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing special/broad form coverage type. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for missing special/broad form coverage type. comp factor: FICO
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000314   24068341 XXXX 12/14/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing missing lease/ XX% vacancy. comp factor: FICO, Reserves, Seasoned investor The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for missing missing leaseXX% vacancy. comp factor: FICO, Reserves, Seasoned investor
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000378   24068317 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial The property is ineligible.   Approved exception at origination for  Subject property in shell condition. comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for Subject property in shell condition. comp factor: Reserves
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000378   24068318 XXXX 12/14/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for first time investor. comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for first time investor. comp factor: Reserves
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000378   24068319 XXXX 12/14/2021 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for  limited open major tradelines. comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for limited open major tradelines. comp factor: Reserves
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000378   24068320 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: Reserves, FICO. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for waiver of ins impounds. comp factor: Reserves, FICO.
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000423   24068342 XXXX 12/14/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: seasoned investor
     12/11/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000423   24068343 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor
     12/11/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000472   24068310 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Missing Law & ord coverage. comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for Missing Law & ord coverage. comp factor: Reserves
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000472   24068311 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for waiver of ins impounds. comp factor: Reserves
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000472   24068312 XXXX 12/14/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for  LTV ( of XX% on FT investor owner user commercial condo property) . comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-11): Approved exception at origination for LTV ( oXX% on FT investor owner user commercial condo property) . comp factor: Reserves
     12/11/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000056   24100340 XXXX 12/16/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.92x on investor mixed use property. comp factor: Seasoned investor, FICO, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-15): Approved exception at origination for DSCR of 0.92x on investor mixed use property. comp factor: Seasoned investor, FICO, Reserves
     12/15/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000056   24100982 XXXX 12/16/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   missing lease- XX% vacancy  on mixed use property with loan > $XXX. an approved exception is not documented. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): Exception noted on uplaoded approval


Reviewer Comment (2021-12-22): Unable to clear.  Updated approval not provided in trailing documents.
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000532   24104974 XXXX 12/16/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: Seasoned investor Borrower's Experience/Track Record

Borrower's Experience/Track Record		 Borrower's Experience/Track Record. The borrower has: 6 Years of Experience and an investor.

Borrower's Experience/Track Record. The borrower has: 6 Years of Experience as an investor.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2021-12-15): Approved exception at origination for waiver of insurance impounds. comp factor: Seasoned investor
     12/15/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000450   24096495 XXXX 12/16/2021 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 641 < minimum required of 650.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower is a seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2021-12-15): Approved exception at origination for FICO below 650.  Comp factor, seasoned investor.
     12/15/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000450   24105075 XXXX 12/16/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance escrow/impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower is a seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2021-12-15): Approved exception at origination for waiver of insurance escrow/impounds. Comp factor, seasoned investor.
     12/15/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000431   24207989 XXXX 01/05/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOM-subject.  Comp factor, Seasoned investor Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has:2 Years of Experience as an investor of subject property. Owner,Originator Pre-Close Reviewer Comment (2021-12-21): Approved exception at origination for less than 12 months mortgage payments verified, missing the March payment.  Comp factor, seasoned investor.  Additional comp factor, strong reserves could not be verified.
     12/21/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000421   24219975 XXXX 01/05/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease agreement for subject SFR refinance. ( file evidence reflects subject is XXXX. an approved exception waiver is not documented) Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): Exception noted on uploaded
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000421   24352114 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   cashout on property held < 12 mos using  AV of $XXX which is > purchase price of $XXX onXX/XX. an approved exception waiver is not documented. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 12 mos.    comp Factor: FICO


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000223   24093088 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Unable to determine comp factor for approved exception for LTV ( of XX% on owner user retail purchase) The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV ( oXX% on owner user retail purchase).   comp Factor: FICO


Buyer Comment (2022-01-25): uploaded


Reviewer Comment (2022-01-04): exception remains-  uploaded approval continues to reflect unmitigated for the LTV exception


Buyer Comment (2022-01-03): corrected on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000223   24093089 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-06): Approved exception received in trailing documents for waiver of impounds.  Comp factor, high FICO.


Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO


Buyer Comment (2022-01-03): exception noted on uploaded approval
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000223   24093091 XXXX 12/15/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   missing leases/ XX% vacancy for loan > $XXX is not documented as an approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-04): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing leases.  comp Factor: FICO


Buyer Comment (2022-01-03): exception noted on uploaded approval for owner user no lease
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000223   24093114 XXXX 12/15/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Purchase Agreement / Sales Contract not provided   Purchase Price discrepancy; contract PP of $XXX does not align with settlement stmt PP of $XXX The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-26): Approved exception documented on updated approval received in trailing documents for missing Purchase Agreement addendum.  Comp factor, high FICO.


Buyer Comment (2022-01-26): uploaded


Reviewer Comment (2022-01-25): Exceptions remains-  an approved exception waiver with acceptable comp factor is not captured on uploaded approval worksheet. ( Per guidelines XX the purchase price per final settlement stmt must match contract.  )


Buyer Comment (2022-01-25): Purchase contract addendum waived on uploaded loan approval in the transaction section. Per my conversation with the escrow officer and documetns in file, the XXK in question was to be added to the purchase price if not paid up front.


Reviewer Comment (2022-01-25): Exception remains-  under defined terms, the $XXk Deposit  would credit towards PP of $XXXM.  an updated purchase contract with Purchase Price of $XXX  has not been received


Buyer Comment (2022-01-25): Purchase contract addendum stating " Non-refundable deposit of $XXX to be deposited to Escrow #XXXX by XX/XX/XXXXXX. If purchase agreement
becomes fully executed, the $XXX will be incorporated with the purchase price. If said escrow does not close, the
additional deposit shall be released to seller without further approval."  Executed by both parties  t


Reviewer Comment (2022-01-04): Exception remains-  neither updated contract nor settlement stmt reflecting corrected purchase price received,


Buyer Comment (2022-01-03): Uploaded certified copy of escrow instructions showing final Purchase price.
     01/26/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000090   24103609 XXXX 12/16/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOR-primary; borrower lives rent free. Borrower's Experience/Track Record CF- Seasoned business Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-primary; borrower lives rent free.    comp Factor: seasoned Business


Buyer Comment (2022-01-04): uploaded


Reviewer Comment (2021-12-22): Unable to clear.  Updated approval or VOR not provided in trailing documents.
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000090   24418620 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   LTV of XX% on cashout refi of investor retail property is not documented as an approved exception Borrower's Experience/Track Record CF- Seasoned business Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV oXX% on cashout refi of investor retail property.    comp Factor: seasoned Business
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000090   24418657 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver. Borrower's Experience/Track Record CF- Seasoned business Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of ins impounds.    comp Factor: seasoned Business
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000324   24092099 XXXX 12/15/2021 Credit Guideline Guideline Issue Guideline Note loan amount is greater than guideline maximum. Note loan amount of $XXX is greater than guideline maximum loan amount of $XXX. Approved exception at origination for loan amount ( of $XXXMM on  cashout refi of SFR) comp factor: FICO, Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for loan amount ( of $XXXMM on cashout refi of SFR) comp factor: FICO, Seasoned investor
     12/14/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000324   24092102 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV ( of XX%  on  cashout refi of SFR with loan > $XXXMM) comp factor: FICO, Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for LTV ( oXX% on cashout refi of SFR with loan > $XXXMM) comp factor: FICO, Seasoned investor
     12/14/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000324   24092105 XXXX 12/15/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for Missing lease- subject is XXXX rental.  comp factor: FICO, Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for Missing lease- subject is XXXX rental. comp factor: FICO, Seasoned investor
     12/14/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000324   24092225 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage capped at $XXX is not documented as an approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Flood coverage amount   comp Factor: FICO, Seasoned investor


Reviewer Comment (2022-01-06): uploaded approval with exception
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000324   24092232 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1) hurricane deductible ofXX% on XXMM coverage amount exceeds max wind deductible of $XXk.  2) Coverage amount of $XXMM is < Appraisal replacement cost of $XXMM and loan amount of $XXMM Guaranteed replacement cost is not evidenced. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-06): Exception 1) waived -  due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount   comp Factor: FICO, seasoned investor.  ( Exception 2 cleared due to receipt of EOI with replacement cost estimator)


Buyer Comment (2022-01-04): 1.  Exception noted for W/H deductible.  2.  Uploaded final insurance showingXX% replacement cost AND RCE showing sufficient coverage.
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000568   24105363 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for Waiver of insurance impounds. comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-05): Approved exception at origination for Waiver of insurance impounds. comp factor: Seasoned investor
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000113   24103041 XXXX 12/16/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO,  Seasoned investor


Buyer Comment (2022-01-04): Exception noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000113   24418510 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on rate/term refi of investor office property. comp factor: Reserves, FICO Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for LTV oXX% on rate/term refi of investor office property. comp factor: Reserves, FICO
     01/06/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000461   24350663 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: owned the subject investment property for 7 years. Owner,Originator Pre-Close Reviewer Comment (2022-01-03): Approved exception at origination for waiver of insurance impounds.  Comp factor, seasoned investor.
     01/03/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000553   24383401 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   5% wind deductible on $XXX coverage amount exceeds guideline max wind deductible of $XXk Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ Reserves Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Wind deductible amount.    comp Factor: Reserves


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000285   24093047 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor
     12/14/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000285   24093059 XXXX 12/15/2021 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   Appraisal aged > 180days;  effective date is Mar XX/XX The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for aged appraisal   comp Factor: LTV


Buyer Comment (2022-01-04): Exception noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000139   24264341 XXXX 01/06/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower  Lives Rent free.  Comp factor: high FICO and strong reserves. The representative FICO score exceeds the guideline minimum by XX points. FICO 786. Owner,Originator Pre-Close Reviewer Comment (2021-12-27): Approved exception at origination for no primary mortgage or rent history.  Comp Factors High FICO and strong reserves.
     12/27/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000139   24389821 XXXX 01/06/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for First Time Buyer  ( at XX% LTV on owner user Office purchase.)  Comp factors: High FICO and strong reserves. The representative FICO score exceeds the guideline minimum by XX points. FICO 786. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for First Time Buyer ( aXX% LTV on owner user Office purchase.) Comp factors: High FICO and strong reserves.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000137   24098012 XXXX 12/16/2021 Credit Asset Asset Calculation / Analysis Asset Guideline Requirement: Available for Reserves discrepancy. Calculated Available for Reserves of  is less than Guideline Available for Reserves of . $0 verified reserves ( insufficient funds to close.)  there was no evidence found in file that borrower is not a FT investor. The qualifying DSCR on the loan is greater than the guideline minimum. CF- Strong DSCR Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for $0 reserves.   comp Factor: Strong DSCR.


Buyer Comment (2022-01-04): excetion noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000137   24098151 XXXX 12/16/2021 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Down Payment Funds not provided   Insufficient verified funds to close. approval reflects $XXk verified. final settlement stmt reflects $XXk req'd to close. The qualifying DSCR on the loan is greater than the guideline minimum. CF- Strong DSCR Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient verified funds to close.   comp Factor: Strong DSCR


Buyer Comment (2022-01-13): uplaoded


Reviewer Comment (2022-01-06): exception remains- asset narrative section is not included in uploaded approval copy


Buyer Comment (2022-01-04): asset analysis section updated on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000137   24417918 XXXX 01/06/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   NEW- uploaded credit report reflects outstanding unpaid state tax liens & an unpaid collection account which aggregate to > $5k. The qualifying DSCR on the loan is greater than the guideline minimum. CF- Strong DSCR Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for outstanding collections.  comp Factor: DSCR


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000193   24098511 XXXX 12/16/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 1.0x < 1.20x req'd for investor multifamily property type. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Pre-Close Reviewer Comment (2021-12-15): Approved exception at origination for DSCR of 1.0x < 1.20x req'd for investor multifamily property type. comp factor: Seasoned investor, FICO
     12/15/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000059   24515747 XXXX 01/18/2022 Credit Credit Miscellaneous Guideline Credit Exception:   Property not in average or better condition with deferred maintenance of $XXX.  Max amount permitted isXX% up to $XX. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Originator Pre-Close,Owner,Originator Reviewer Comment (2022-01-18): Received updated approval waiving exception for property not in average or better condition with deferred maintenance of $XXX.  Comp factor, strong reserves.
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000543   24218098 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI ( owners policy) reflects loss of use and not loss of rents coverage, The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: FICO


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000543   24218260 XXXX 01/05/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   approved exception at origination for missing VOR- primary; borrower lives rent free .  Comp factor, seasoned investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-04): approved exception at origination for missing VOR- primary; borrower lives rent free . Comp factor, seasoned investor.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000563   24250625 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   property coverage amount of $XXMM is < loan amount of $XXX and appraisal replacement cost of XXMM.  Guaranteed replacement cost is not evidenced, The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for property coverage amount.  comp Factor: FICO


Buyer Comment (2022-01-25): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000563   24256024 XXXX 01/05/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Down Payment Funds not provided   missing stmts for underwritten funds to close ( Approval assets section is blank & only a stmt corroborating earnest money was contained in file) The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Verification of funds to close.  comp Factor: FICO


Buyer Comment (2022-01-25): Assets section complete and exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000563   24381527 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of ins impounds.   comp Factor: FICO


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000563   24593749 XXXX 01/25/2022 Credit Guideline Guideline Issue Guideline Note loan amount is greater than guideline maximum. Note loan amount of $XXX is greater than guideline maximum loan amount of $XXX. Loan amount of $XXX is not documented as an approved exception Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for loan amount.   comp Factor: Seasoned investor, FICO
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000563   24593795 XXXX 01/25/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   LTV of XX% on Jumbo SFR purchase transaction Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV XX%.   comp Factor: Seasoned investor
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000563   24594161 XXXX 01/25/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing Lease/ vacancy The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing lease.  comp Factor: FICO
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000437   24202794 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for rural subject property .  Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. XX% LTV. Owner,Originator Pre-Close Reviewer Comment (2021-12-20): Approved exception at origination for rural property.  Comp factor, low LTV.
     12/20/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000437   24382749 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held <  12 months .  Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. XX% LTV. Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Approved exception at origination for cashout on property held <  12 months .  Comp factor, low LTV.
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000179   24092514 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing complete law & ord coverage. only law & ord equipment coverage is evidenced The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: LTV


Buyer Comment (2022-01-04): exception noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000179   24092576 XXXX 12/15/2021 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for trad 2 property with loan amount of $XXX The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: LTV


Buyer Comment (2022-01-04): exception noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000143   24390501 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, High FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 766. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for waiver of insurance impounds. Comp factor, High FICO.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000143   24390527 XXXX 01/06/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for First Time investor with an LTV of XX%.    Comp Factor, Strong reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Business reserves of $XXX plus personal reserves of $XXX. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for First Time investor with an LTV oXX%. Comp Factor, Strong reserves.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000118   24092959 XXXX 12/15/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   unable to determine comp factor for Approved exception for First time Investor ( at XX% LTV on owner User retail purchase) status is 'unmitigated The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for First time Investor ( aXX% LTV on owner User retail purchase) .  comp Factor:  FICO


Buyer Comment (2022-01-04): Corrected on uplaoded approval
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000118   24092967 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for Waiver of ins impounds. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for Waiver of ins impounds. comp factor: FICO
     12/14/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000118   24092989 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.81x ( on owner user office purchase comp factor: FICO, Seasoned business The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for DSCR of 0.81x ( on owner user office purchase comp factor: FICO, Seasoned business
     12/14/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000118   24092991 XXXX 12/15/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOM- subject missing XX/XX pmt. comp factor: FICO, Seasoned business The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for incomplete VOM- subject missing XX/XX/XXXX pmt. comp factor: FICO, Seasoned business
     12/14/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000118   24093002 XXXX 12/15/2021 Credit Asset Asset Calculation / Analysis Asset Guideline Requirement: Available for Reserves discrepancy. Calculated Available for Reserves of  is less than Guideline Available for Reserves of . Unable to verify post closing reserves. ( Bank stmts in file do not support verified  balances reflected on approval assets section) The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient reserves.  comp Factor:  FICO, Seasoned business


Buyer Comment (2022-01-04): Exception noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000118   24093037 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing law & ordinance coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Pre-Close Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor:  FICO


Buyer Comment (2022-01-04): exception noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000458   24250751 XXXX 01/05/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Unable to determine comp factor for approved exception for missing VOR- primary; borrower lives rent free.   status is 'unmitigated'. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR- primary; borrower lives rent free.  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): Exception mitigated on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000458   24353702 XXXX 01/05/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Unable to determine comp factor for Approved Exception for no open major tradelines.   status is 'unmitigated'. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for no major tradelines..  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): exception mitigated on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000566   24402346 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower is a seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for waiver of ins impounds. Comp factor, seasoned investor.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000566   24402411 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI- (owners policy) reflects blanket liability coverage without required endorsement for full coverage amount applies to each covered location. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower is a seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for blanket liability policy.  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): uploaded
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000092   24279932 XXXX 01/06/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR- primary; borrower lives rent free.  
  Comp factors: strong reserves and high FICO.		 Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.

The representative FICO score exceeds the guideline minimum by XX points.		 Reserves of $XXX after closing.  This is 9 months PITIA.

FICO 760.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2021-12-27): Approved exception at origination for no primary housing payment history-lives rent free.  Comp factors, strong reserves and high FICO.
     12/27/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000092   24391331 XXXX 01/06/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination. First time investor (with an LTV of XX% on owner user retail purchase)   Comp factors: strong reserves and high FICO. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.

The representative FICO score exceeds the guideline minimum by XX points.		 Reserves of $XXX after closing.  This is 9 months PITIA.

FICO 760.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-05): Approved exception at origination. First time investor (with an LTV oXX% on owner user retail purchase) Comp factors: strong reserves and high FICO.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000182   24090630 XXXX 12/15/2021 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR/VOM-primary.   comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for missing VOR/VOM-primary. comp factor: Reserves
     12/14/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000182   24090641 XXXX 12/15/2021 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for outstanding collections > $5k   comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for outstanding collections > $5k comp factor: Reserves
     12/14/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000182   24090647 XXXX 12/15/2021 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on owner user office purchase.) .   comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Pre-Close Reviewer Comment (2021-12-14): Approved exception at origination for FT investor ( aXX% LTV on owner user office purchase.) . comp factor: Reserves
     12/14/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000454   24381243 XXXX 01/05/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   missing lease for SFR refinance transaction The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.   comp Factor: LTV, FICO


Buyer Comment (2022-01-13): exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000454   24381280 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing Wind/hail coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage.   comp Factor: LTV, FICO


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000405   24354253 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Reserves


Buyer Comment (2022-01-24): Exception noted


Reviewer Comment (2022-01-17): exception remains- uploaded approval does not contain any approved exception waiver.


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000511   24374799 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage capped at $XXX.  an approved exception waiver is not documented. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for flood coverage amount   comp Factor: FICO


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000569   24208218 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held < 12 mos.  Comp factor: high FICO. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-05): Approved exception at origination for cashout on property held < 12 mos.  Comp factor: high FICO.
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000569   24402326 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO, Seasoned investor


Buyer Comment (2022-01-24): Exception mitigated


Reviewer Comment (2022-01-17): exception remains-  unable to determine comp factor: CF 1 reflects only 'other'


Buyer Comment (2022-01-13): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000381   24196093 XXXX 01/05/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOM-primary.    Comp factor: strong reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-04): Approved exception at origination for Missing VOM-subject. Comp factor: strong reserves.
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000481   24247164 XXXX 01/05/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   1) missing VOR-primary; borrower lives rent free and 2) incomplete VOM-subject, < 12 mos   pms verified.  ( Missing 4  months payments) Neither is noted as an approved exception waiver Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary & incomplete VOM-subject.  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): Exceptions noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000481   24375309 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): exception noted on uploaded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000428   24196335 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Co-insurance on 1-4 property & Missing Wind and Hail insurance.  Comp Factor, Seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has:9 Years of Experience as am investor of subject property. Currently holds 5 Properties. Owner,Originator Pre-Close Reviewer Comment (2021-12-20): Approved exception at origination for Co-insurance and missing Wind and Hail coverage.  Comp factor, seasoned investor.
     12/20/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000428   24381995 XXXX 01/05/2022 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   1004 Appraisal in file is missing market rent analysis/ comparable rent schedule Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has:9 Years of Experience as am investor of subject property. Currently holds 5 Properties. Owner,Originator Pre-Close Reviewer Comment (2022-01-17): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for appraisal missing market rent analysis.  comp Factor: Seasoned investor


Buyer Comment (2022-01-13): Exception noted on uplaoded approval
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000564   24091459 XXXX 12/15/2021 Credit Guideline Guideline Issue Guideline Note loan amount is greater than guideline maximum. Note loan amount of $XXX is greater than guideline maximum loan amount of $XXX. unable to determine comp factor for Approved exception for loan amount (of $XXMM on cashout refi of SFR).  Status is 'unmitigated' The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for loan amount   comp Factor: LTV


Buyer Comment (2022-01-04): Exception mitigated on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000564   24091721 XXXX 12/15/2021 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1% hazard Deductible on $XXMM coverage amount exceeds guideline max deductible of $XXk The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-06): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for deductibe amount   comp Factor: LTV


Buyer Comment (2022-01-04): exception noted on uploaded approval
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000424   24261513 XXXX 01/05/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for Missing lease agreement for the subject property. comp factor: LTV, Seasoned investor, FICO The representative FICO score exceeds the guideline minimum by XX points.

Borrower's Experience/Track Record

The Loan to Value (LTV) on the loan is less than the guideline maximum.		 FICO 802.

Borrower's Experience/Track Record. The borrower has: 31 Years of Experience. Subject property has been an investment property for the borrower since 1985.

LTV XX%.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2021-12-27): Approved exception at origination for missing Lease Agreement.  Comp factors Seasoned Investor, high FICO, and low LTV.  Unable to verify Low LTV based on property being listed within last 6 months.
     12/27/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000424   24261514 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   1) Per Analyst Review the subject property was listed on XX/XX/XXXX and Lowest listing price is $XXX which is< VCC approved AV of $XXX.  2) missing required cancelled listing agreement The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for recently listed property & missing cancelled listing agreement   comp Factor: LTV


Buyer Comment (2022-01-21): Uploaded


Reviewer Comment (2022-01-19): Exception 1 remains-  VCC value of $XXX exceeds lowest recent listing price of $XXX. an approved exception waiver is not documented.


Buyer Comment (2022-01-17): Proof property off market and updated approval with exception written for missing agreement
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000424   24375600 XXXX 01/05/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for Foreclosure proceedings reported XX/XX on previous rental property. comp factor: LTV, Seasoned investor, FICO Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 31 Years of Experience. Subject property has been an investment property for the borrower since 1985. Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Approved exception at origination for Foreclosure proceedings reported XX/XX/XXXX on previous rental property. comp factor: LTV, Seasoned investor, FICO
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000422   24261529 XXXX 01/05/2022 Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Missing lease agreement for the subject SFR refinance transaction. Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor, LTV, FICO


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000422   24539066 XXXX 01/19/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for Mortgage lates with VCC in 2020.  comp factor: Seasoned investor, LTV, FICO Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exception at origination for Mortgage lates with VCC in 2020. comp factor: Seasoned investor, LTV, FICO
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000570   24207800 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 626. Comp Factor, Low LTV, seasoned investor The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV of XX%. Owner,Originator Pre-Close Reviewer Comment (2021-12-20): Approved exception at origination for FICO 626.  Comp factor, low LTV.
     12/20/2021 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000570   24402140 XXXX 01/06/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for 1x150 days  late on primary within 24 mos.  Comp factor; Low LTV, seasoned investor. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV of XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for 1x150 days late on primary within 24 mos. Comp factor; Low LTV, seasoned investor.
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000570   24402253 XXXX 01/06/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Unpaid Chargeoff > $15k reflected on credit report within 24 mos, an approved exception waiver is not documented. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV of XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for outstanding chargeoffs > $15k   comp Factor: LTV


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000570   24539136 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor,
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000546   24383047 XXXX 01/05/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Approved exception at origination for > 60 days aged credit report . comp factor: Seasoned investor Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-04): Approved exception at origination for > 60 days aged credit report . comp factor: Seasoned investor
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000546   24383127 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects loss of use and not loss of rents coverage, Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000567   24401760 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 3 Years of Experience as an investor. Currently holds 9 Properties Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor.
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000567   24401853 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   unable to determine comp factor for approved exception for LTV ( of XX% on cashout refi  Blanket duplex note.)  status is 'unmitigated' The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV ( oXX% on cashout refi Blanket duplex note.)    comp Factor: FICO


Buyer Comment (2022-01-17): Corrected on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000567   24402061 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Blanket liability policy without required endorsement for full coverage amount applies to each covered location. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 3 Years of Experience as an investor. Currently holds 9 Properties Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for blanket liability policy.  comp Factor: Seasoned investor


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000087   24280598 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for Rural subject property.   Comp factor: seasoned business. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2021-12-27): Approved exception at origination for rural property.  Comp factor, seasoned business.
     12/27/2021 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000087   24394177 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds.  Comp factor: seasoned business. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for waiver of ins impounds. Comp factor: seasoned business.
     01/05/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000087   24394225 XXXX 01/06/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for < 2 major tradelines.    Comp factor, seasoned business. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for < 2 major tradelines. Comp factor, seasoned business.
     01/05/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000087   24395342 XXXX 01/06/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Approved exception at origination for credit report aged > 60 days. comp factor: seasoned business Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for credit report aged > 60 days. comp factor: seasoned business
     01/05/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000087   24395422 XXXX 01/06/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on owner occ retail property Lease purchase agreement refi) comp factor: Seasoned business Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for FT investor ( aXX% LTV on owner occ retail property) comp factor: Seasoned business
     01/05/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000087   24395572 XXXX 01/06/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Non-Owner Occupancy Declaration not provided   File contains evidence that subject is a mixed used property with the borrower occupying the property as both their primary residence and their business operation location.  Missing Owner Occ BP Cert & BP disclosure required for owner occupied mixed use property, Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing BP Cert & owner occ BP cert.  comp Factor: Seasoned Business


Buyer Comment (2022-01-25): UPlaoded


Reviewer Comment (2022-01-24): Exception remains-  In the absence of Owner occ BP cert please provide UW analysis of BP worksheet to mitigate missing required BP documentation.


Buyer Comment (2022-01-24): Exception corrected on uploaded approval


Reviewer Comment (2022-01-23): Exception remains-  Missing Owner Occ BP Cert not documented as an approved exception waiver


Buyer Comment (2022-01-21): Exception noted on uplaoded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000087   24395636 XXXX 01/06/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOR/VOM-subject; Cash payments made on Lease -Purchase.  Comp factors: seasoned business and strong reserves. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for incomplete VOR/VOM-subject; Cash payments made on Lease -Purchase. Comp factors: seasoned business and strong reserves.
     01/05/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000087   24396000 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Appraiser noted that additions were made in the basement adding a Kitchen and that the second story had bedrooms and an office.  & were unable to verify if the required special permits were obtained for these living spaces.  Subject use is as a mixed use property with the borrower occupying both the retail space for their business and personal primary residence. Borrower's Experience/Track Record Borrower's Experience/Track Record. The borrower has: 9 Years of Experience self employed. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Unpermitted addition/ property usage.    comp Factor: Seasoned Business


Buyer Comment (2022-01-21): Exception noted on uploaded approval. Additional commentary from VCC reviewer below,
Building is 2-story plus basement. Basement area not included in GBA/NRA. The in-place tenant is utilizing the property as a live/workspace, with salon on the ground floor, 2nd floor as offices/bedrooms and because they are also living in it, they created a make-shift “kitchen” in the basement.

However, the building is suited for single-user purposes because the 2nd floor is only accessible through the first-floor commercial space. Due to the 2nd floor not having separate ingress/egress, a self-contained kitchen on the same level as the bedrooms/bath, etc the 2nd floor cannot be a legal apartment. For this reason, the appraiser considers the subject to be a 2-story commercial building, which is how it was valued.

The kitchen has what appears to be an electric cooktop/oven combo, portable appliances and built-in storage/shelving. Take out the dining table/chairs, unplug/remove the electric appliance(s) at no/minimal cost, and what is left in the basement is primarily unfinished area with some built-ins and a sink, which is not illegal. Remove the beds from the bedrooms and you have more offices/commercial on the 2nd floor.  

The value is based on 2-story commercial, Retail/Trad 2, which is a legal use. Though they are using it illegally because you can’t have a kitchen in the basement, the cost to cure is basically just removing some bedroom furniture, dining furniture and appliances, which has nominal effect on value. I called it out because they are using it illegally.
     01/23/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000512   24380282 XXXX 01/05/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing lease/ XX% vacancy.  Comp factors, high FICO and strong reserves. The representative FICO score exceeds the guideline minimum by XX points.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 FICO 759.

Reserves $XXX.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-04): Approved exception at origination for missing leaseXX% vacancy. Comp factors, high FICO and strong reserves.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000512   24380298 XXXX 01/05/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for first time investor ( with LTV of XX% on 4 family purchase).  Comp factors, strong reserves and high FICO. The representative FICO score exceeds the guideline minimum by XX points.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 FICO 759.

Reserves $XXX.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-04): Approved exception at origination for first time investor ( with LTV oXX% on 4 family purchase). Comp factors, strong reserves and high FICO.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000510   24345815 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   unable to determine comp factor for Approved exception for LTV of XX% on Cashout Refi of SFR.   Status is 'unmitigated' Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception forLTV of XX%.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-17): Uploaded
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000545   24337142 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI contains   Loss of use and not loss of rents coverage. Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000545   24380882 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination waiver of insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-04): Approved exception at origination waiver of insurance impounds. Comp factor, seasoned investor.
     01/04/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000394   24428462 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing law & ord coverage. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for missing law & ord coverage. comp factor: FICO
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000394   24428472 XXXX 01/10/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing leases. comp factor: FICO, Seasoned investor, Reserves The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for missing leases. comp factor: FICO, Seasoned investor, Reserves
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000394   24428478 XXXX 01/10/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: FICO, Seasoned investor, Reserves The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: FICO, Seasoned investor, Reserves
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000394   24428492 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.99x on owner user mixed use property with loan > $XXX. comp factor: FICO, Seasoned investor, Reserves The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for DSCR of 0.99x on owner user mixed use property with loan > $500k. comp factor: FICO, Seasoned investor, Reserves
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000433   24458464 XXXX 01/11/2022 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   1004 appraisal in file does not contain a comparable rent schedule/ market rent analysis. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for appraisal missing comparable rent schedule/ market rent analysis.   comp Factor: LTV


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000373   24372977 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial LTV over 75%   Approved exception at origination for LTV of XX% on mixed use property purchase.  Comp factors, seasoned investor and high FICO. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 725.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-04): Approved exception at origination for LTV oXX%.  Comp factors, seasoned investor and high FICO.
     01/04/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000373   24398411 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Unable to determine comp factor for State exclusion override for Mixed use ( traditional 1) property type located in IL, ( Request comp factor along with lender affirmation of rationale for override of policy defined statewide exclusion) The representative FICO score exceeds the guideline minimum by XX points. FICO 725. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for State exclusion override for Mixed use ( traditional 1) property type located in IL,comp Factor: LTV


Seller Comment (2022-01-19): Although we don’t generally lend in Illinois, there isn’t anything in our MCP that prohibits us from making loans there. Additionally, this is allowable from a compliance and legal standpoint. The document attached was an outdated desktop procedure, so the MCP would override that.


Buyer Comment (2022-01-17): Exception mitigated on uploaded. This is a fully tenant occupied Trad 2 loan with recent  building improvements.
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000445   24420507 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO,  Seasoned investor


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000445   24420568 XXXX 01/10/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Outstanding judgement/lien  per credit report XX/XX $XXX.  an approved exception waiver is not documented. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for outstanding Judgements .  comp Factor: FICO


Buyer Comment (2022-01-17): Exception noted on uploaded approval;
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000555   24458391 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   approved exception at origination for FICO of 645.  comp factor: LTV The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-10): approved exception at origination for FICO of 645. comp factor: LTV
     01/10/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000555   24458399 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOR-primary; borrower lives rent free.  an approved exception waiver is not documented The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR- borrower lives rent free.  comp Factor:LTV


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000555   24458408 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI 1) reflects XX% coinsurance 2) does not contain wind/hail coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance & missing wind/hail coverage.  comp Factor: LTV


Buyer Comment (2022-01-17): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000531   24512287 XXXX 01/18/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOR- primary; borrower lives rent free.  An approved exception waiver is not documented. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing VOR- primary.  comp Factor: LTV


Buyer Comment (2022-01-20): exception noted on uploaded approval
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000531   24512288 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of ins impounds   comp Factor: FICO


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000531   24512290 XXXX 01/18/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Down Payment Funds not provided   Unable to verify underwritten funds to close.  Approval assets section is incomplete. The Loan to Value (LTV) on the loan is less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by XX points.		 CF- LTV

CF- FICO		 Owner,Originator

Owner,Originator		 Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing VOF sourcing stmts for funds to close.   comp Factor: LTV, FICO


Buyer Comment (2022-01-20): Analysis section complete and an exception has been noted for unverified funds to close.  Approval uploaded in prior exception
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000475   24332874 XXXX 01/05/2022 Credit Guideline Guideline Issue Guideline Loan product type is ineligible per guidelines.   Approved exception at origination to waive impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2021-12-30): Approved exception at origination to waive impounds. Comp factor, seasoned investor.
     12/30/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000401   24429434 XXXX 01/10/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   approved exception at origination for credit report aged > 60 days. comp factor: seasoned investor, seasoned business Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-06): approved exception at origination for credit report aged > 60 days. comp factor: seasoned investor, seasoned business
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000401   24429560 XXXX 01/10/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Non-Owner Occupancy Declaration not provided   Missing Bus purpose certification document and/or Owner occ BP cert for subject mixed use property. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing BP Cert document.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval - Owner User property
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000401   24429565 XXXX 01/10/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Proof of Residency Status not provided   Missing Passport/ Visa/Greencard.  (No proof of citizenship found in file- Only a SS Card  with 'valid only with INS auth' & employment auth card found in file.) Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing borrower ID.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted. Borrower is a seasoned investor and a seasoned business owner.
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000401   24429643 XXXX 01/10/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Letter of Intent not provided   Missing Bus purpose disclosure document for subject mixed use property. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing BP Disclosure document.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000353   24380640 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000353   24380699 XXXX 01/05/2022 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   1073 Appraisal does not include the Rent Analysis/ Comparable Rent Schedule. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing comparable rent analysis.  comp Factor: FICO


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000353   24380842 XXXX 01/05/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI ( owners policy) does not contain loss of rents coverage, The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing loss of rents coverage.  comp Factor: FICO


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000353   24382920 XXXX 01/05/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Outstanding federal tax liens > $XXk reflected on credit report. an approved exception waiver is not documented The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for outstanding tax liens.  comp Factor: FICO


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000485   24463110 XXXX 01/12/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   only 1x active major tradeline on credit report. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient major tradelines.   comp Factor: FICO, reserves


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000485   24463117 XXXX 01/12/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   missing VOR-primary; borrower lived rent free prior to XX/XX.  an approved exception waiver is not documented. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; borrower lived rent free   comp Factor: FICO, reserves


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000519   24531621 XXXX 01/21/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for less than 2 major trade lines.  Comp factor, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 751. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Approved exception at origination for less than 2 major trade lines. Comp factor, high FICO.
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000519   24531654 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Approved exception at origination for Flood coverage capped at $XXX.  Comp factor, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 751. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Approved exception at origination for Flood coverage less than loan amount or replacement costs. FEMA max amount is $XXX. Comp factor, high FICO.
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000519   24534526 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM for primary housing.  No approved exception documented. The representative FICO score exceeds the guideline minimum by XX points. FICO 751. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM- primary. comp Factor: FICO


Buyer Comment (2022-01-21): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000518   24437124 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   approved exception at origination for cash out on property held < 12 mos. Comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-07): approved exception at origination for cash out on property held < 12 mos. Comp factor: Seasoned investor, FICO
     01/07/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000518   24437336 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-07): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor.
     01/07/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000374   24458390 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing wind/hail/named storm coverage Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000557   24429481 XXXX 01/10/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   approved exception at origination  for missing lease / XX% vacancy. comp factor: LTV, Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-07): approved exception at origination for missing lease /XX% vacancy. comp factor: LTV, Seasoned investor, FICO
     01/07/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000557   24436836 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Hurricane deductible of $XXX exceeds guideline max wind deductible of $XXk. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception forhurricane  deductible amount.    comp Factor: LTV


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000557   24539266 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Rural subject p[roperty Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for rural subject property.    comp Factor: Seasoned investor, LTV, FICO
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000557   24539267 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   property held < 12 mos using value > PP. Borrower's Experience/Track Record

The Loan to Value (LTV) on the loan is less than the guideline maximum.		 CF- seasoned investor

CF- LTV		 Owner,Originator

Owner,Originator		 Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for property held < 12 mos using value > PP..    comp Factor: Seasoned investor, LTV, FICO
     01/19/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000478   24425354 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Unable to determine comp factor for approved exception for LTV ( of XX% on owner user commercial condo refinance)  status is 'unmitigated' The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV ( oXX% on owner user commercial condo refinance)    comp Factor: FICO


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000478   24425385 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000478   24426450 XXXX 01/10/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for trad II property type with loan > $XXX The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: FICO


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000478   24426664 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI ( owners policy ) does not include business income/ loss of rents coverage. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000392   24422698 XXXX 01/10/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOM- Primary. comp factor: seasoned investor, Reserves Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for incomplete VOM- Primary. comp factor: seasoned investor, Reserves
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000392   24422725 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on investor office purchase. comp factor: seasoned investor, Reserves Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-06): Approved exception at origination for LTV oXX% on investor office purchase. comp factor: seasoned investor, Reserves
     01/06/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000574   24307996 XXXX 01/06/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   missing VOM- Primary;  mortgage in wife's name.  An approved exception waiver is not documented. The representative FICO score exceeds the guideline minimum by XX points. FICO 781. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary.  comp Factor: FICO


Buyer Comment (2022-01-18): uploaded
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000574   24308164 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial LTV over 75%   Approved exception at origination for an LTV of XX% on blanket SFR purchase.  Comp factors, high FICO and seasoned investor. The representative FICO score exceeds the guideline minimum by XX points.

Borrower's Experience/Track Record		 FICO 781.

Borrower's Experience/Track Record. Borrower owns another multifamily 5+ property.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2021-12-29): Approved exception at origination for an LTV oXX%.  Comp factors, high FICO and seasoned investor.
     12/29/2021 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000574   24402511 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Borrower owns another multifamily 5+ property. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000468   24463503 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Unable to determine comp factor for approved exception FICO of 625. status is 'unmitigated' Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for FICO of 625.    comp Factor: seasoned investor, LTV


Buyer Comment (2022-01-18): uploaded loan approval


Buyer Comment (2022-01-18): Uploaded signed and certified
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000468   24463575 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): Exception noted on uplaoded apprvoal
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000556   24534131 XXXX 01/21/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for less than 2 open major trade lines.  Comp factor, low LTV . The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV 61.2%. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Approved exception at origination for less than 2 open major trade lines. Comp factor, low LTV .
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000556   24534140 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR- primary; borrower  Lives rent free.  Comp factors, low LTV and high FICO. The Loan to Value (LTV) on the loan is less than the guideline maximum.

The representative FICO score exceeds the guideline minimum by XX points.		 LTV 61.2%.

FICO 723.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-19): Approved exception at origination for missing VOR/VOM for primary housing. Lives rent free. Comp factors, low LTV and high FICO.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000548   24458350 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 602. comp factor: LTV, seasoned investor The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for FICO of 602. comp factor: LTV, seasoned investor
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000339   24452313 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for Waiver of insurance impounds.  comp factor: LTV The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for Waiver of insurance impounds. comp factor: LTV
     01/10/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000339   24453509 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects exclusion of named storm coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing named storm coverage.  comp Factor: LTV


Buyer Comment (2022-01-18): uploaded
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000530   24458343 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for waiver of insurance impounds. comp factor: Reserves
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000473   24383682 XXXX 01/11/2022 Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Missing lease agreement for subject SFR Refinance transaction Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): Exception noted uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000473   24383683 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing wind/hail coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage.  comp Factor: LTV


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000473   24458369 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: LTV


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000427   24535852 XXXX 01/21/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Only 1 open/active major tradeline on the credit report.  No approved exception documented. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient major tradelines.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000427   24535856 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOM for both primary & Subject.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Approved exception at origination for missing VOM on primary housing and subject property (no payments due on subject). Comp factor, seasoned investor.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000427   24538910 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of Insurance impounds..  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Approved exception at origination for Blanket Insurance Policy and waiver of Insurance impounds.. Comp factor, seasoned investor.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000427   24538926 XXXX 01/21/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Credit report reflects outstanding charge off/collection accounts in the aggregate amount of $XXX.  No approved exception documented. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for  chargeoffs.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000427   24555484 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects blanket liability policy without required endorsement for full coverage amount applies to each covered location. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing blanket endorsement.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000427   24569971 XXXX 01/23/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Credit report aged > 60 days Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days.  comp Factor: Seasoned investor
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000516   24537376 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Approved exception at origination for Flood coverage capped at $XXX.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exception at origination for Flood coverage capped at $250k. comp factor: Seasoned investor
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000516   24537385 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for 1x30 day late within 90 days on subject.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exception at origination for 1x30 day late within 90 days on subject. comp factor: Seasoned investor
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000523   24443803 XXXX 01/10/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing/incomplete VOR-primary; per LOE in file borrower lived rent free with relative prior to XX/XXXX.  an approved exception waiver is not documented The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary.   comp Factor: FICO


Buyer Comment (2022-01-18): Exception noted
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000377   24452058 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Incomplete VOM- subject; missing October payment. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for 1x30 day late within 90 days.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-18): Exception written for 130. Per payoff demand October payment was paid nov 30th,
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000432   24444904 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   approved exception at origination for missing VOM-Primary & subject.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-10): approved exception at origination for missing VOM-Primary & subject. comp factor: Seasoned investor
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000432   24458491 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000432   24458492 XXXX 01/11/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Approved exception at origination for  credit report aged> 60 days. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for credit report aged> 60 days. comp factor: seasoned investor
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000432   24458497 XXXX 01/11/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   credit report reflects Outstanding collections/chargeoffs aggregating > $5k. an approved exception is not cited. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for collections/chargeoffs.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): uploaded


Reviewer Comment (2022-01-20): exception remains- no updated approval received


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000432   24458509 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects 1) loss of use and not loss of rents coverage. 2) blanket liability policy without required endorsement for full coverage amount applicable to each covered location Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage & missing blanket endorsement.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted uploaded approval


Reviewer Comment (2022-01-20): exception remains- no updated approval was received


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000435   24465660 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% ( on owner user Office purchase)  comp factor:   FICO The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-11): Approved exception at origination for LTV oXX% ( on owner user Office purchase) comp factor: FICO
     01/11/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000435   24467397 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects exclusion of wind/hail coverage The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Wind/Hail coverage.  comp Factor: FICO


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000572   24401573 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor
     01/05/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000402   24429831 XXXX 01/10/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   approved Exception at origination for incomplete VOM-subject;  missing  XX/XXXX and XX/XXXX payments. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-07): approved Exception at origination for incomplete VOM-subject; missing 10/2021 and 11/2021 payments. comp factor: Seasoned investor, FICO
     01/07/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000402   24429837 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   approved Exception at origination for insufficient Liability coverage amount of $XXX. comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-07): approved Exception at origination for insufficient Liability coverage amount of $XXX. comp factor: Seasoned investor
     01/07/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000402   24436027 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing wind/hail coverage Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Wibnd/hail coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): Exception noted
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000469   24470153 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing law & ord coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: FICO


Buyer Comment (2022-01-18): Uploaded
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000346   24538578 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI ( owners policy) 1) reflects loss of use and not loss of rents coverage. 2) does not include wind/hail coverage The representative FICO score exceeds the guideline minimum by XX points. FICO 714. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing Loss of rents & Wind/Hail coverage.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000346   24555323 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for  cashout on property held < 12 mos Comp factor, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 714. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for cashout on property held < 12 mos Comp factor, high FICO.
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000346   24555327 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM-primary;  mortgage in spouses name only.  an approved exception waiver is not documented The representative FICO score exceeds the guideline minimum by XX points. FICO 714. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary.  comp Factor: FICO


Buyer Comment (2022-01-21): exception noted on uplaoded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000550   24555191 XXXX 01/21/2022 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   1004 Appraisal in file is missing 1)  comparable rent schedule/ market rent analysis 2) Cost approach to value replacement cost analysis is not completed The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Comp fent schedule & Replacement cost analysis.   comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000550   24555253 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Coverage amount of $XXX is <  subject loan amount of $XXX ( Appraisal does not contain replacement cost analysis)  guaranteed replacement cost is not evidenced. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing insufficient coverage amount  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000536   24446797 XXXX 01/12/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   approved exception at origination for missing VOR-Primary pay history.  comp factor: reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-11): approved exception at origination for missing VOR-Primary pay history. comp factor: reserves
     01/11/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000536   24464026 XXXX 01/12/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   approved exception at origination for < 2 open/active major tradelines.  comp factor: reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-11): approved exception at origination for < 2 open/active major tradelines. comp factor: reserves
     01/11/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000562   24547630 XXXX 01/21/2022 Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Missing Leases for 2 of 3 subject units. No approved exception documented. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approvals
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000562   24552145 XXXX 01/21/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for Foreclosure < 2 years on 1 of many mortgages.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for Foreclosure < 2 years on 1 of many mortgages. Comp factor, seasoned investor.
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000562   24553728 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV ( of XX% on cashout refi  of investor 1-4 property).  Comp factor, seasoned investor Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for LTV ( oXX% on cashout refi of investor 1-4 property). Comp factor, seasoned investor
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000456   24446965 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   unable to determine comp factor for approved Exception for 603 FICO.  status is 'unmitigated' The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for FICO of 603.   comp Factor: LTV


Buyer Comment (2022-01-18): Exception mitigated on the uploaded
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000410   24457502 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOM-primary. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for missing VOM-primary. comp factor: seasoned investor
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000410   24458494 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000410   24458496 XXXX 01/11/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Approved exception at origination for credit report aged > 60 days. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for credit report aged > 60 days. comp factor: seasoned investor
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000410   24458498 XXXX 01/11/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   credit report reflects Outstanding collections/chargeoffs aggregating > $5k. an approved exception is not cited. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Outstanding collections/chargeoffs aggregating > $5k.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000410   24458510 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects 1) loss of use and not loss of rents coverage. 2) blanket liability policy without required endorsement for full coverage amount applicable to each covered location Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing Loss of rents coverage and blanket endorsement.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000453   24482378 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing EOI for liability coverage; none found in file. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing liability coverage.  comp Factor: FICO


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000453   24482418 XXXX 01/12/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   First time investor ( with LTV of XX% / CLTV of XX% on owner user office purchase) is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV/CLTV   comp Factor: FICO


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000453   24482484 XXXX 01/12/2022 Credit Credit Miscellaneous Guideline Credit Exception:   Seller 2nd mtg term of 5 yrs is < fixed rate period of subject note. Guideline required 2nd mtg term to meet/exceed fixed rate period.  an approved exception is not documented The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for 2nd mortgage term.  comp Factor: FICO


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000453   24548842 XXXX 01/20/2022 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Approved exception at origination for unrated carrier.  comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-20): Approved exception at origination for unrated carrier. comp factor: FICO
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000407   24473404 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects exclusion of named storm coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Named Storm coverage.  comp Factor: FICO


Buyer Comment (2022-01-18): exception  noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000407   24473489 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on investor warehouse purchase. comp factor: FICO, Reserves The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-11): Approved exception at origination for LTV oXX% on investor warehouse purchase. comp factor: FICO, Reserves
     01/11/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000407   24473496 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: FICO The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-11): Approved exception at origination for waiver of ins impounds. comp factor: FICO
     01/11/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000442   24444871 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Incomplete VOM- subject; no payment history provided, Comp factors: high FICO, seasoned investor, and low LTV. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.

The Loan to Value (LTV) on the loan is less than the guideline maximum.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 785.

XX% LTV.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-07): Approved exception at origination for less than 12 months verified mortgage payments, Comp factors, high FICO, seasoned investor, and low LTV.
     01/07/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000442   24455547 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 785. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination for waiver of insurance impounds. Comp factor, high FICO.
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000442   24455569 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing Law & ord coverage.  Comp factor, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 785. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination for missing Law & ord coverage. Comp factor, high FICO.
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000442   24455868 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI ( owners policy) does not reflects wind/hail coverage The representative FICO score exceeds the guideline minimum by XX points. FICO 785. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.  comp Factor: FICO


Buyer Comment (2022-01-18): Exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000538   24484685 XXXX 01/14/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for traditional property type with loan > $XXX Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor, LTV


Buyer Comment (2022-01-24): uploaded


Reviewer Comment (2022-01-22): Exception remains-  uploaded approval is incomplete- missing all narrative sections


Buyer Comment (2022-01-20): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000538   24484974 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing law & ord coverage. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord Coverage.  comp Factor: Seasoned investor, LTV


Buyer Comment (2022-01-24): uploaded


Reviewer Comment (2022-01-22): Exception remains-  uploaded approval is incomplete- missing all narrative sections


Buyer Comment (2022-01-20): exeption noted on uplaoded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000465   24482223 XXXX 01/12/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination  for FT investor ( at XX% LTV on owner user warehouse purchase.) comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for FT investor ( aXX% LTV on owner user warehouse purchase.) comp factor: Reserves
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000388   24485493 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOM-subject. comp factor: Seasoned investor, reserves, seasoned business. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for incomplete VOM-subject. comp factor: Seasoned investor, reserves, seasoned business.
     01/12/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000388   24485528 XXXX 01/14/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for outstanding judgements > $38k. comp factor: Seasoned investor, reserves, seasoned business. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for outstanding judgements > $38k. comp factor: Seasoned investor, reserves, seasoned business.
     01/12/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000388   24485546 XXXX 01/14/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for limited open major tradelines. comp factor: Seasoned investor, reserves, seasoned business. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for limited open major tradelines. comp factor: Seasoned investor, reserves, seasoned business.
     01/12/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000388   24485587 XXXX 01/14/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Approved exception at origination for credit report aged > 60 days. comp factor: Seasoned investor, reserves, seasoned business. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for credit report aged > 60 days. comp factor: Seasoned investor, reserves, seasoned business.
     01/12/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000388   24485874 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing wind/hail coverage. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.  comp Factor: Seasoned Business


Buyer Comment (2022-01-24): uploaded


Reviewer Comment (2022-01-22): Exception remains- uploaded updated  approval is missing all narrative sections


Buyer Comment (2022-01-20): Exception noted
     01/24/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000416   24474710 XXXX 01/12/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOM- subject.  comp factor: LTV, FICO The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-11): Approved exception at origination for incomplete VOM- subject. comp factor: LTV, FICO
     01/11/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000416   24474722 XXXX 01/12/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business License not provided   Approved exception at origination for missing business license.  comp factor: LTV, FICO The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-11): Approved exception at origination for missing business license. comp factor: LTV, FICO
     01/11/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000409   24486689 XXXX 01/14/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for 2x 120 day lates within 24 mos. comp factor: Seasoned investor, reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for 2x 120 day lates within 24 mos. comp factor: Seasoned investor, reserves
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000490   24483330 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.82x.  Comp factors: seasoned business and seasoned investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for DSCR of 0.82x. Comp factors: seasoned business and seasoned investor.
     01/12/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000490   24489764 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for waiver of insurance impounds. Comp factor; seasoned investor.
     01/12/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000490   24489811 XXXX 01/14/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for traditional property type with loan > $XXX Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned Business


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000490   24489886 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing law & ordinance coverage. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000490   24489897 XXXX 01/14/2022 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Missing condo master policy Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing condo master policy.  comp Factor: Seasoned investor


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000489   24487821 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing law & ordinance coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: FICO


Buyer Comment (2022-01-20): exception noted
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000509   24536343 XXXX 01/19/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for no major open trade lines.  Comp Factors are Seasoned Investor and High FICO. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exception at origination for no major open trade lines. Comp Factors are Seasoned Investor and High FICO.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000509   24537747 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved Exception at origination for waiver of Insurance.  Comp factor is Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved Exception at origination for waiver of Insurance. Comp factor is Seasoned Investor.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000509   24538224 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   liability coverage of $XXX is <  guideline min liability of $XXX Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for liability coverage amount   comp Factor: seasoned investor


Buyer Comment (2022-01-21): Exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000066   24538298 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000547   24512027 XXXX 01/18/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for 1x60  w/in 12 months on subject.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-17): Approved exception at origination for 1x60 w/in 12 months on subject. comp factor: Seasoned investor
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000476   24543859 XXXX 01/20/2022 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided   Approval exception at origination for credit report aged > 60 days.  Comp factors are Seasoned Investor, High FICO and Strong reserves. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 771.

Reserves $XXX.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-20): Approval exception at origination for extension of credit expiration date one week. Comp factors are Seasoned Investor, High FICO and Strong reserves.
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000554   24457900 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM-subject.  no payment history found in file. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing VOM   comp Factor: LTV


Buyer Comment (2022-01-21): Uploaded


Reviewer Comment (2022-01-20): Exception remains- no Exception for VOM was reflected on uploaded approval.


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000554   24457949 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 643.  Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination for FICO of 643. Comp factor, low LTV.
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000554   24458301 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds.  Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination for waiver of ins impounds. Comp factor, low LTV.
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000554   24458312 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing wind/hail coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage.  comp Factor: LTV


Buyer Comment (2022-01-18): exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000391   24544760 XXXX 01/20/2022 Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Approved exception at origination for no Lease Agreement (XXXX).  Comp factors, high FICO and seasoned investor. The representative FICO score exceeds the guideline minimum by XX points.

Borrower's Experience/Track Record		 FICO 755.

Borrower's Experience/Track Record. Seasoned investor.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-20): Approved exception at origination for no Lease Agreement (XXXX). Comp factors, high FICO and seasoned investor.
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000391   24547627 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Loss of Rent coverage of 6 months PITI.  Comp fact, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 755. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for Loss of Rent coverage of 6 months PITI. Comp fact, high FICO.
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000391   24547645 XXXX 01/20/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOM/VOR.  Comp factor, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 755. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for missing VOM/VOR. Comp factor, high FICO.
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000414   24465741 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Unable to substantiate comp factor for Approved exception at origination for Flood coverage capped at  $XXX. sole Comp factor listed is strong reserves,  however, approval reflects Shortfall in funds to close of > $XXX. The qualifying DSCR on the loan is greater than the guideline minimum. CF- DSCR Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for flood coverage amount   comp Factor: Strong DSCR


Buyer Comment (2022-01-20): Corrected loan approval uploaded, referencing sufficient closing funds and 4.5 mos of reserves.  An additional mitigating factor of strong DCR has been added.
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000414   24490068 XXXX 01/14/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Unable to substantiate comp factor for Approved exception at origination for FT investor ( at XX% LTV on investor mixed use purchase). sole Comp factor listed is strong reserves,  however, approval reflects Shortfall in funds to close of > $XXX.    . The qualifying DSCR on the loan is greater than the guideline minimum. CF- DSCR Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for  FT investor ( aXX% LTV on investor mixed use purchase).   comp Factor: Strong DSCR


Buyer Comment (2022-01-20): updated approval shows sufficient reserves.
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000414   24490083 XXXX 01/14/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Unable to substantiate comp factor for Approved exception at origination for < 2 major tradelines. sole Comp factor listed is strong reserves,  however, approval reflects Shortfall in funds to close of > $XXX. The qualifying DSCR on the loan is greater than the guideline minimum. CF- DSCR Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for  <2 major tradelines.   comp Factor: Strong DSCR


Buyer Comment (2022-01-20): updated approval provides sufficient reserves and an additional comp factor of strong DCR
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000414   24490272 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Unable to substantiate comp factor for Approved exception at origination for missing VOR-primary; borrower lives rent free. sole Comp factor listed is strong reserves,  however, approval reflects Shortfall in funds to close of > $XXX. The qualifying DSCR on the loan is greater than the guideline minimum. CF- DSCR Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR- primary   comp Factor: Strong DSCR


Buyer Comment (2022-01-20): updated approval uplaoded showing sufficient funds for reserves and additional comp factor of strong DCR
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000524   24489131 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV( of XX% on owner user retail purchase)  comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for LTV( oXX% on owner user retail purchase) comp factor: seasoned investor
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000383   24522035 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   missing VOR-primary; borrower lives rent fee.  An approved exception waiver is not documented Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-20): exception noted on uploaded approval
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000331   24548571 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of  Insurance impounds  is not documented as an approved exception The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of insurance impounds.   comp Factor: FICO


Buyer Comment (2022-01-25): Exception noted on uploaded approvla
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000331   24554549 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects loss of use and not loss of rents coverage. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing loss of rents coverage.   comp Factor: FICO


Buyer Comment (2022-01-25): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000533   24488760 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for rural subject property. comp factor: LTV, FICO, Seasoned investor The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for rural subject property. comp factor: LTV, FICO, Seasoned investor
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000533   24488768 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: LTV The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for waiver of ins impounds. comp factor: LTV
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000533   24488789 XXXX 01/14/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing Lease for traditional property type with loan > $XXX. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing lease    comp Factor: LTV


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000575   24419315 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% ( on cashout 1-4 family blanket loan).  Comp factors, seasoned investor and high FICO. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor with 10+ investment properties.

FICO 718.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-06): Approved exception at origination for LTV oXX%. Comp factors, seasoned investor and high FICO.
     01/06/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000575   24434382 XXXX 01/10/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing Lease Agreements.  Comp factors, seasoned investor and high FICO. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor with 10+ investment properties. Owner,Originator Pre-Close Reviewer Comment (2022-01-07): Approved exception at origination for missing Lease Agreements. Comp factors, seasoned investor and high FICO.
     01/07/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000575   24434611 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor with 10+ investment properties. Owner,Originator Pre-Close Reviewer Comment (2022-01-07): Approved exception at origination for waiver of insurance impounds. Comp factor, seasoned investor.
     01/07/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000575   24434937 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1) missing all perils deductible details for 2x subject properties ( missing for  XXX XXXX) 2) Aggregate wind/hail deductible ofXX% on aggregate coverage amount of $XXXk ( for 2 duplex properties) and XX% on $XXXk SFR coverage exceeds guideline max wind deductible of $25k Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor with 10+ investment properties. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing all perils deductible and waiver of Wind deductible amount > guideline max.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): Exceptions noted
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000575   24434968 XXXX 01/10/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage for 1 of 3 subject properties capped at $XXX.  an approved exception waiver is not documented. The representative FICO score exceeds the guideline minimum by XX points. FICO 718. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Flood coverage capped at $250k.  comp Factor: Seasoned investor


Buyer Comment (2022-01-18): exception noted on uploaded
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000446   24458358 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held < 6 mos. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-10): Approved exception at origination for cashout on property held < 6 mos. comp factor: Seasoned investor, FICO
     01/10/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000446   24458362 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing wind/hail coverage Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-18): exception noted
     01/20/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000558   24526491 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   missing VOR/VOM  for both primary and subject properties, an approved exception is not documented. ( Per the most recent guideline revision this requirement  is No longer specifically excluded  for loans with LTV of XX% or less) The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV 50%. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM/VOR-primary & Subject.  comp Factor: LTV


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000558   24526863 XXXX 01/19/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing Lease Agreement.  Comp facts, high FICO and low LTV. The representative FICO score exceeds the guideline minimum by XX points.

The Loan to Value (LTV) on the loan is less than the guideline maximum.		 FICO 757.

LTV XX%.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-18): Approved exception at origination for missing Lease Agreement. Comp facts, high FICO and low LTV.
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000434   24500151 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for incomplete VOR-primary.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for incomplete VOR-primary. comp factor: Seasoned investor
     01/13/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000434   24500163 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 0.99x on 5+ family property with loan >  $XXX .  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for DSCR of 0.99x on 5+ family property with loan > $500k . comp factor: Seasoned investor
     01/13/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000434   24500167 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing law & ordinance coverage.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for missing law & ordinance coverage. comp factor: Seasoned investor


Buyer Comment (2022-01-21): Exception was noted and mitigated by further by borrowers high fico of 700+
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000434   24500840 XXXX 01/14/2022 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   missing EOI for both A) property hazard & B) liability coverage for subject property.  none found in file Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing Liability coverage, insufficient coverage amount and missing law & ord coverage.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-24): Exception noted on uploaded approval


Reviewer Comment (2022-01-23): Exception B) remains-  Uploaded EOI does not reflect any liability coverage


Buyer Comment (2022-01-21): Page 3 states replacement cost, Page 33 has the description. As well Coverage was raised per page 66 and the correct mortgagee clauses are on page 65 and 66. Thanks!
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000434   24569956 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   NEW-  Uploaded EOI reflects coverage amount of $XXX which is < appraisal replacement cost of $XXX and note amount of $XXX.  Guaranteed replacement cost is not evidenced Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient coverage amount.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000520   24478276 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   The subject property was listed for sale on XX/XX/XXXX for $XXX which is < VCC value of $XXX. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for VCC value > listing price   comp Factor: FICO


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000520   24562531 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000447   24488228 XXXX 01/14/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( at XX% LTV on investor auto service purchase) comp factor: reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for FT investor ( aXX% LTV on investor auto service purchase) comp factor: reserves
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000447   24488409 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects exclusion of named storm coverage. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- Reserves Owner,Originator Reviewer Comment (2022-01-22): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing named storm  coverage.  comp Factor: Reserves


Buyer Comment (2022-01-20): Exception noted on uploaded approval
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000406   24489532 XXXX 01/14/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Outstanding federal tax lien  > $20k. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for unpaid tax lien.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): uploaded
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000406   24489636 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOM-subject. comp factor: Seasoned investor, Seasoned Business Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-12): Approved exception at origination for missing VOM-subject. comp factor: Seasoned investor, Seasoned Business
     01/12/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000439   24493615 XXXX 01/14/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing lease. comp factor: FICO, reserves, LTV The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for missing lease. comp factor: FICO, reserves, LTV
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000439   24494071 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   5% wind deductible on $XXX coverage amount exceeds guideline max wind deductible of $25k The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount  comp Factor: FICO, LTV


Buyer Comment (2022-01-21): Exception noted
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000429   24494424 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR-primary; borrower lives rent free. comp factor: Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for Missing VOR-primary; borrower lives rent free. comp factor: Seasoned investor, Reserves
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000429   24494506 XXXX 01/14/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for no open major tradelines. comp factor: Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for no open major tradelines. comp factor: Seasoned investor, Reserves
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000429   24494522 XXXX 01/14/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for Missing leases/ XX% vacancy. comp factor: Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for Missing leasesXX% vacancy. comp factor: Seasoned investor, Reserves
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000429   24494530 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% for investor retail purchase. comp factor: Seasoned investor, Reserves Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for LTV oXX% for investor retail purchase. comp factor: Seasoned investor, Reserves
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000429   24494578 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000429   24494703 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   DSCR of 0.656x for traditional property with loan > $XXX is not documented as an approved exception waiver. ( $XXX purchase exemption is specific to owner user property type.) Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for DSCR of 0.66x.  comp Factor: Reserves, Seasoned investor


Buyer Comment (2022-01-21): Exceptoin noted
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000551   24412317 XXXX 01/06/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds.  Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV 45.8%. Owner,Originator Pre-Close Reviewer Comment (2022-01-05): Approved exception at origination for waiver of ins impounds.  Comp factor, low LTV.
     01/05/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000486   24512302 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for rural subject property.  comp factor: Reserves, FICO, Seasoned investor Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-17): Approved exception at origination for rural subject property. comp factor: Reserves, FICO, Seasoned investor
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000382   24500606 XXXX 01/18/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-17): approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: Seasoned investor
     01/17/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000576   24441796 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial LTV over 75%   LTV of XX% on blanket note for 1-4 family purchase with 22 cumulative units is not documented as an approved exception waiver Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV oXX%.  comp Factor: Reserves, FICO


Buyer Comment (2022-01-19): Exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000576   24454788 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Blanket liability policy without required endorsement for full coverage amount applies to each covered location. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing required blanket endorsement.  comp Factor: Reserves


Buyer Comment (2022-01-21): uploaded


Reviewer Comment (2022-01-20): exception remains- Uploaded approval version with exception cited does not contain approval history.


Buyer Comment (2022-01-19): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000576   24546607 XXXX 01/20/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT Investor ( at XX% LTV on blanket duplex purchase)  Comp factor: Reserves, FICO Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-20): Approved exception at origination for FT Investor ( aXX% LTV on blanket duplex purchase) Comp factor: Reserves, FICO
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000337   24499362 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   DSCR of 0.95x is < guideline min of 1.20x for multifamily property with loan > $XXX.  an approved exception is not documented.  ( ($XXX Purchase exemption is specific to owner user properties.) Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing DSCR of 0.95x coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000337   24499388 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% ( on investor multifamily purchase).  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-13): Approved exception at origination for LTV oXX%. Comp factor, seasoned investor.
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000337   24505468 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-14): Approved exception at origination for waiver of ins impounds.  Comp factor, seasoned investor.
     01/14/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000544   24512319 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage capped at $XXX.  an approved exception is not documented. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for flood coverage amount.    comp Factor: seasoned investor


Buyer Comment (2022-01-21): Exception noted
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000335   24548270 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of Hazard, liability and windstorm insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for waiver of Hazard, liability and windstorm insurance impounds. Comp factor, seasoned investor.
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000334   24497670 XXXX 01/14/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   No open major tradelines  reflected on credit report The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for no major tradelines.   comp Factor: LTV


Buyer Comment (2022-01-21): uploaded
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000561   24548652 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of Insurance Impounds is not documented as an approved exception waiver. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of ins impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000561   24554150 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial LTV over 75%   Unable to determine comp factor for approved exception for LTV ( of XX% on cashout of SFR with loan > $XXX) Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for LTV oXX% on cashout of SFR with loan > $XXXMM.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): mitigated on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000561   24554171 XXXX 01/20/2022 Credit Credit Miscellaneous Credit Reverification of mortgage is inconsistent with original VOM   Missing VOM/VOR for primary housing and subject rental property.  No approved exception documented. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing LVOM/VOR both Primary & subject.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000561   24554795 XXXX 01/20/2022 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   Missing lender's secondary ( Ops) appraisal for SFR property with loan > $XXX. {only 1x 1004 appraisal found in file} Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lenders secondary Ops appraisal for origination of 1-4 loan > $XXMM.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000561   24554886 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   coverage amount ( aggregate of base + ERC ) totaling $XXXK is < appraisal replacement cost of $XXXK and note amount of $XXXMM. guaranteed replacement cost is not evidenced. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient coverage amount.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted - mitigated with email from agent confirming coverage.
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000573   24444131 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missign VOR=primary; borrower lives rent free.  Comp factors, strong reserves, high FICO and season investor. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 785.

Reserves of $XXX.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-07): Approved exception at origination for no VOM, lives rent free. Comp factors, strong reserves, high FICO and season investor.
     01/07/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000573   24454921 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination waiver of insurance impounds.  Comp factors, high FICO and seasoned investor. The representative FICO score exceeds the guideline minimum by XX points. FICO 785. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination waiver of insurance impounds. Comp factors, high FICO and seasoned investor.
     01/10/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000573   24455290 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   All perils Deductible of $5.000 on $XXX coverage amount for 1 of 3 subject properties exceeds guideline max deductible ofXX% Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for deductible amount.    comp Factor: seasoned investor, FICO


Buyer Comment (2022-01-19): Exception noted on uploaded approval
     01/20/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000467   24486107 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for insufficient gen agg Liability coverage amount. Comp factor, seasoned investors. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investors. Owner,Originator Pre-Close Reviewer Comment (2022-01-12): Approved exception at origination for less than $2,000,000 aggregate Liability coverage. Comp factor, seasoned investors.
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000467   24488585 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   DSCR < 1.20x is not documentwed as an approved exception waiver.  ( $XXX purchase exemption is specific to owner user properties) Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Estimated reserves of $XXX. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for DSCR of 1.18x   comp Factor: Reserves


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000467   24490363 XXXX 01/14/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for XX% vacancy/ missing leases.  comp factor: seasoned investor, Reserves Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investors. Owner,Originator Pre-Close Reviewer Comment (2022-01-12): Approved exception at origination forXX% vacancy/ missing leases. comp factor: seasoned investor, Reserves
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000467   24515660 XXXX 01/18/2022 Credit Credit Miscellaneous Guideline Credit Exception:   Approved exception at origination for property being 1XX% vacant.  Comp factors, seasoned investor and strong reserves. Borrower's Experience/Track Record

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 Borrower's Experience/Track Record. Seasoned investors.

Estimated reserves of $XXX.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-18): Approved exception at origination for property beingXX% vacant. Comp factors, seasoned investor and strong reserves.
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000413   24532168 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 603.  Comp factors, low LTV and seasoned investor. The Loan to Value (LTV) on the loan is less than the guideline maximum.

Borrower's Experience/Track Record		 XX% LTV,

Borrower's Experience/Track Record. Seasoned investor.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-19): Approved exception at origination for FICO below 650. Comp factors, low LTV and seasoned investor.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000413   24536833 XXXX 01/21/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing complete copy of Lease Agreement.  Comp factors, low LTV and seasoned investor. The Loan to Value (LTV) on the loan is less than the guideline maximum.

Borrower's Experience/Track Record		 XX% LTV,

Borrower's Experience/Track Record. Seasoned investor.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-19): Approved exception at origination for missing complete copy of Lease Agreement. Comp factors, low LTV and seasoned investor.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000413   24537063 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM -primary.  Documentation in file reflects a mortgage in spouses name with  recent delinquency.  an approved exception is not found. The Loan to Value (LTV) on the loan is less than the guideline maximum. XX% LTV, Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary   comp Factor: LTV


Buyer Comment (2022-01-24): uploaded


Reviewer Comment (2022-01-23): exception remains- no Missing VOR/VOM  exception was indicated on uploaded approval


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000413   24555594 XXXX 01/21/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Credit report reflects an outstanding charge off > $5k.  an approved exception is not documented. The Loan to Value (LTV) on the loan is less than the guideline maximum. XX% LTV, Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for chargeoff > $5k  comp Factor: LTV


Buyer Comment (2022-01-21): exception noted on uplaoded aprpoval


Buyer Comment (2022-01-21): Borrower has signed/provided all necessary business purpose documents, including a H/w cash out letter stating business purpose.  Addtionally a lease has been provided and  the appraisal supports tenant occupancy.  An LOE is not required
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000499   24556820 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for no mortgage rating on 2nd mortgage for subject property.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for no mortgage rating on 2nd mortgage for subject property. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000499   24558162 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for no VOM on primary housing.  Lives rent free.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for no VOM on primary housing. Lives rent free. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000499   24567261 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Hurricane deductible ofXX% on $XXX coverage amount exceeds guideline max wind deductible of $25k. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for  wind deductible amount.  comp Factor: Seasoned  Investor, FICO


Buyer Comment (2022-01-25): Exception noted on uploaded approval


Reviewer Comment (2022-01-24): Exception remains-  uploaded EOI continues to reflect a Hurricane deductible of $XXX which exceeds the maximum of $XXX.


Buyer Comment (2022-01-24): uploaded
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000408   24498782 XXXX 01/14/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   No Active major tradelines on credit report Borrower's Experience/Track Record CF-seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient major tradelines.    comp Factor: seasoned investor


Buyer Comment (2022-01-21): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000504   24512139 XXXX 01/18/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM or VOR for the primary residence prior to the purchase of the current residence on XX/XXXX. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing/incomplete VOM-primary   comp Factor: LTV, FICO


Buyer Comment (2022-01-21): Exception noted
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000504   24561587 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor:  FICO
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000336   24467400 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Unable to determine comp factor. for Approved exception  for liability coverage amount of $XXX.   comp factor 1 is 'other' Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for liability coverage amount   comp Factor: seasoned investor


Buyer Comment (2022-01-21): exception corrected
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000336   24507212 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Unable to determine comp factor for Approved exception for waiver of insurance impounds.   comp factor 1 is 'other' Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception corrected
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000484   24497695 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower lives rent free.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-13): Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: Seasoned investor
     01/13/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000438   24473482 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for no Ordinance and Law coverage.  Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV XX%. Owner,Originator Pre-Close Reviewer Comment (2022-01-11): Approved exception at origination for no Ordinance and Law coverage. Comp factor, low LTV.
     01/11/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000537   24539037 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects loss of use and not loss of rents coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. XX% LTV. Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: LTV


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000537   24569795 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception The Loan to Value (LTV) on the loan is less than the guideline maximum. XX% LTV. Owner,Originator Reviewer Comment (2022-01-24): Approved exception  for waiver of impounds documented on updated approval.  Comp factor, low LTV.


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000528   24512323 XXXX 01/18/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOR-primary; borrower lives rent free. an approved exception waiver is not documented. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary  comp Factor: seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000528   24512324 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000552   24539167 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1) EOI reflects loss of use and not loss of rents coverage. 2) Hurricane deductible of $XXXk exceeds guideline max wind deductible of $XXk Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing loss of rents coverage & wind decuctible amount.    comp Factor: seasoned investor


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000552   24539174 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing  VOR-Primary; borrower lives rent free. an approved exception waiver is not documented Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing VOR- primary.    comp Factor: seasoned investor


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000552   24569857 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Unable to determine comp factor for approved exception for LTV of XX% on cashout refi of SFR.  status is 'unmitigated' The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for  LTV oXX% on cashout refi of SFR. .    comp Factor: FICO


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000526   24531552 XXXX 01/19/2022 Credit Missing Document General Missing Document Missing Document: Lease Agreement not provided   Missing Lease  for SFR condo refinance transaction. no approved exception documented. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000526   24532156 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOR -primary.  none found in file The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary.  comp Factor: FICO


Buyer Comment (2022-01-21): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000440   24526433 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 CF- FICO

CF- reserves		 Owner,Originator

Owner,Originator		 Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor:  FICO, reserves


Buyer Comment (2022-01-21): Exception noted on uplaoded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000440   24526571 XXXX 01/19/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   1 of 3 guarantors has only 1 open/active major tradeline  on credit report Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient tradelines.  comp Factor:   reserves


Buyer Comment (2022-01-21): exception noted on uplaoded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000440   24526611 XXXX 01/19/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for traditional property with loan > $XXX The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing lease.  comp Factor:  FICO, reserves


Buyer Comment (2022-01-21): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000440   24526685 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR-primary  for 1 of 3 subject guarantors; guarantor lives rent free. comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for Missing VOR-primary for 1 of 3 subject guarantors; guarantor lives rent free. comp factor: Seasoned investor, FICO
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000440   24526687 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial LTV over 75%   Approved exception at origination for  LTV of XX% on owner user whse purchase.. comp factor: Seasoned investor, reserves, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for LTV oXX% on owner user whse purchase.. comp factor: Seasoned investor, reserves, FICO
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000440   24526698 XXXX 01/19/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   1 of 3 guarantors appears to be a FT investor;  an approved exception waiver is not documented.  ( No VOR-primary; LOE in file reflects living with parents rent free & no properties listed on application RE schedule) The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for FT investor.  comp Factor:  FICO


Buyer Comment (2022-01-21): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000506   24555373 XXXX 01/24/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Incomplete lease agreement; only the first two pages present; no signature page in file. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-24): Approved exception on updated approval for missing signature page of Lease Agreement.  Comp factor, seasoned investor.


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000506   24555381 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1)  coverage amount of $XXXk is < appraisal replacement cost of $XXX and note amount of 2) EOI for liability coverage is a blanket policy without required endorsement for full coverage amount applies to each location. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-24): Approved exception documented on updated approval for insurance coverage less than loan amount or costs to rebuild.  Comp factor, seasoned investor.


Buyer Comment (2022-01-24): Excetion noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000426   24512393 XXXX 01/20/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR- primary; borrower lives rent free. comp factor: Seasoned investor, LTV Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exception at origination for Missing VOR- primary; borrower lives rent free. comp factor: Seasoned investor, LTV
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000426   24538661 XXXX 01/20/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for 3 bankruptcies within 5 yrs. comp factor: Seasoned investor, LTV Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exception at origination for 3 bankruptcies within 5 yrs. comp factor: Seasoned investor, LTV
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000338   24475220 XXXX 01/14/2022 Property Property - Appraisal General Appraisal Requirements Property - Appraisal The appraisal revealed property damage. Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX Approved exception at origination for Deferred maintenance-  required renovations of $XXX for gutted unit.  Comp factors, hold back for the amount $XXX, and seasoned investor. Borrower's Experience/Track Record

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.		 Borrower's Experience/Track Record. Seasoned investor.

Hold back of funds of $XXX.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-11): Approved exception at origination for renovations of $XXX for gutted unit. Comp factors, hold back for the amount $XXX, and seasoned investor.
     01/11/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   B     No
XXXX XXXX 7000338   24475270 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for Debt service ratio of 1.04x for cashout on investor mixed use property with loan > $XXX.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-11): Approved exception at origination for Debt service ratio XX%. Comp factor, seasoned investor.
     01/11/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   B     No
XXXX XXXX 7000338   24509953 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   outstanding building violation penalties in excess of $XXX.  an approved exception is not documented The representative FICO score exceeds the guideline minimum by XX points. 703 FICO. Owner,Originator Reviewer Comment (2022-01-24): Approved exception documented on updated approval for $XXX in violation fines.  Comp factor, high FICO.


Buyer Comment (2022-01-24): Exception written


Reviewer Comment (2022-01-23): Exception remains-  outstanding 17k Violation/fine is not documented as an approved exception on uploaded approval.


Buyer Comment (2022-01-21): Loan approved as per guideline max. Exception noted for deferred maintenance 160K with holdback and 17K violations.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   B     No
XXXX XXXX 7000425   24518346 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: Reserves, LTV Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: Reserves, LTV
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000425   24518353 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 642. comp factor: Reserves, LTV Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for FICO of 642. comp factor: Reserves, LTV
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000425   24518379 XXXX 01/19/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Approved exception at origination for FT investor ( with FICO of 642 at XX% LTV on owner user office purchase) . comp factor: Reserves, LTV Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for FT investor ( with FICO of 642 aXX% LTV on owner user office purchase) . comp factor: Reserves, LTV
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000425   24518393 XXXX 01/19/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for Limited open major tradelines . comp factor: Reserves, LTV Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for Limited open major tradelines . comp factor: Reserves, LTV
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000425   24518425 XXXX 01/19/2022 Credit Guideline Guideline Issue Guideline Note loan amount is less than guideline minimum. Note loan amount of $XXX is less than guideline minimum loan amount of $XXX. Approved exception at origination for loan amount < $XXX on owner user office purchase. comp factor: Reserves Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF_ reserves Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for loan amount < $XXX on owner user office purchase. comp factor: Reserves
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000493   24458031 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects exclusion of named storm coverage./  differing terms for wind coverage not defined. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-21): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for exclusion of named storm coverage.    comp Factor: seasoned investor, FICO


Buyer Comment (2022-01-19): Exception noted on uploaded approval


Buyer Comment (2022-01-19): Disregard last message,  An exception is being written for W/H


Buyer Comment (2022-01-19): UPloaded shows Named Storm and W/H included
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000542   24517687 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on owner user office purchase. comp factor: Seasoned investor, Reserves, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for LTV oXX% on owner user office purchase. comp factor: Seasoned investor, Reserves, FICO
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000542   24517697 XXXX 01/19/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for Missing lease tor traditional property with loan > $XXX. comp factor: Seasoned investor, Reserves, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for Missing lease tor traditional property with loan > $XXX. comp factor: Seasoned investor, Reserves, FICO
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000529   24555534 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Unable to determine comp factor for approved Exception   for LTV exceeding XX% for a Foreign Investor with no FICO. status is 'unmitigated' Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves from business bank account $XXX. Owner,Originator Reviewer Comment (2022-01-24): Approved exception documented on updated approval for aXX% LTV on a foreign investor without a FICO.  Comp factor, strong reserves.


Buyer Comment (2022-01-24): Exception mitigated on uploaded
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000529   24569821 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves from business bank account $XXX. Owner,Originator Reviewer Comment (2022-01-24): Approved exception documented on updated approval for waiver of insurance impounds.  Comp factor, strong reserves.


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000529   24569825 XXXX 01/24/2022 Credit Asset Asset Documentation Asset Missing Document: Bank Statements not provided   Missing US bank stmt for foreign national Guarantor individually ( stmt in file is held by entity. ) Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves from business bank account $XXX. Owner,Originator Reviewer Comment (2022-01-24): Approved exception documented on updated approval for use of business entity bank account.  Comp factor, strong reserves in business entities bank account.


Buyer Comment (2022-01-24): exception noted on uplaoded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000384   24456543 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing Wind and Hail coverage.  Comp factor, high FICO. The representative FICO score exceeds the guideline minimum by XX points. FICO 770. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination for Wind and Hail insurance not included. Comp factor, high FICO.
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000384   24456550 XXXX 01/11/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower lives rent free.  Comp factors: high FICO and seasoned investor. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 770.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-10): Approved exception at origination for no primary housing payment history, lives rent free. Comp factors, high FICO and seasoned investor.
     01/10/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000535   24485912 XXXX 01/14/2022 Credit Loan Package Documentation Closing / Title Missing, Incorrect, or Incomplete HUD-1 Missing Final HUD-1   missing certified final settlement stmt.  document in file is marked estimated Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing final settlement stmt.  comp Factor: reserves


Buyer Comment (2022-01-24): Exception noted on uplaoded approval


Reviewer Comment (2022-01-23): exception remains- uploaded document is marked estimated


Buyer Comment (2022-01-21): uploaded
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000495   24538555 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor,  FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000449   24570045 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects loss of use and not loss of rents coverage Borrower's Experience/Track Record

Borrower's Experience/Track Record		 CF- seasoned investor

CF- Seasoned inveastor		 Originator

Owner,Originator		 Reviewer Comment (2022-01-26): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: Seasoned investor


Reviewer Comment (2022-01-26): RO


Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): Updated approval uploaded.  borrower has multiple mortgages on credit, updated to seasoned investor


Reviewer Comment (2022-01-25): exception remains- unable to substantiate use of 'Pride of Ownership' as the sole comp factor for exception waiver.  subject is a purchase transaction with no evidence to support pride of ownership.


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/26/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000449   24570047 XXXX 01/24/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Issue:  Ineligible borrower   Borrower has only 1 of 3 credit bureaus reporting. Borrower's Experience/Track Record

Borrower's Experience/Track Record		 CF- seasoned investor

CF- Seasoned inveastor		 Originator

Owner,Originator		 Reviewer Comment (2022-01-26): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for only 1 bureau reporting .  comp Factor: Seasoned investor


Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for only 1 bureau reporting .  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): updated comp factors on uplaoded approval


Reviewer Comment (2022-01-25): exception remains- unable to substantiate use of 'Pride of Ownership' as the sole comp factor for exception waiver.  subject is a purchase transaction with no evidence to support pride of ownership.


Buyer Comment (2022-01-25): Exception noted on uploadd approval


Reviewer Comment (2022-01-24): Exception remains  No updated approved received in uploaded documents.


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000449   24570054 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception Borrower's Experience/Track Record

Borrower's Experience/Track Record		 CF- seasoned investor

CF- Seasoned inveastor		 Originator

Owner,Originator		 Reviewer Comment (2022-01-26): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of ins impounds.  comp Factor: Seasoned investor


Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of ins impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): updated comp factor on ujplaoded aprpopval


Reviewer Comment (2022-01-25): exception remains- unable to substantiate use of 'Pride of Ownership' as the sole comp factor for exception waiver.  subject is a purchase transaction with no evidence to support pride of ownership.


Buyer Comment (2022-01-25): Exception noted onuploaded approval


Reviewer Comment (2022-01-24): Exception remains.  No updated approval received in uploaded documents.


Buyer Comment (2022-01-24): exception noted on uplaoded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000501   24567284 XXXX 01/24/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Down Payment Funds not provided   Insuficient verified funds to close; Bank statement provided has a balance of $XXX.  Approval indicates $XXX is needed to close. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for unsourced funds to close.    comp Factor: Reserves


Buyer Comment (2022-01-25): Reserves- XXXXa showing an available balance of $XXX (uploaded) From that account final funds of $XXXwere needed to close leaving $XXX (5.054 mos) for reserves.

Deposit funds - Statement from Closing attorney stating they were holding a total of $XXX was dated prior to bank statement and confirmed as cleared prior to final HUD due to only 13K needed to close.

An exception has been granted for verification of deposit funds, but reserves have been adequately shown.


Reviewer Comment (2022-01-25): exception remains-  unable to substantiate use of strong reserves as comp factor for exception for insufficient verified funds to close.  this is contradictory in nature. ( the referenced HUD evidencing additional funds is not contained in file.)


Buyer Comment (2022-01-25): Assets section updated.  exception mitigated with strong reserves.


Reviewer Comment (2022-01-24): exception remains- unable to substantiate use of pride of ownership as sole comp factor for exception waiver for 4x cited exceptions.  Subject is a purchase and and comp factor is not supported by approval narrative


Buyer Comment (2022-01-24): assets section updated on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000501   24568034 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of  insurance impounds is not documented as an approved exception. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception fo rwaiver of ins impounds.    comp Factor: Reserves


Buyer Comment (2022-01-25): Reserves- XXXX showing an available balance of $XXX (uploaded) From that account final funds of $XXX were needed to close leaving $XXX (5.054 mos) for reserves.

Deposit funds - Statement from Closing attorney stating they were holding a total of $XXX was dated prior to bank statement and confirmed as cleared prior to final HUD due to only 13K needed to close.

An exception has been granted for verification of deposit funds, but reserves have been adequately shown.


Reviewer Comment (2022-01-25): exception remains-  unable to substantiate use of reserves as sole comp factor for loan which also has an exception for insufficient verified funds to close.  this is contradictory in nature,


Buyer Comment (2022-01-25): Corrected approval uploaded


Reviewer Comment (2022-01-24): exception remains- unable to substantiate use of pride of ownership as sole comp factor for exception waiver for 4x cited exceptions.  Subject is a purchase and and comp factor is not supported by approval narrative


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000501   24569489 XXXX 01/24/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Credit report reflects outstanding State Tax Lien of $XXX. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for unpaid tax liens.    comp Factor: Reserves


Buyer Comment (2022-01-25): Reserves- XXXX showing an available balance of $XXX (uploaded) From that account final funds of $XXX were needed to close leaving $XXX (5.054 mos) for reserves.

Deposit funds - Statement from Closing attorney stating they were holding a total of $XXX was dated prior to bank statement and confirmed as cleared prior to final HUD due to only 13K needed to close.

An exception has been granted for verification of deposit funds, but reserves have been adequately shown.


Reviewer Comment (2022-01-25): exception remains-  unable to substantiate use of strong reserves as sole comp factor for loan which also has an exception for insufficient verified funds to close.  this is contradictory in nature,


Buyer Comment (2022-01-25): corrected approval uploaded


Reviewer Comment (2022-01-24): exception remains- unable to substantiate use of pride of ownership as sole comp factor for exception waiver for 4x cited exceptions.  Subject is a purchase and and comp factor is not supported by approval narrative


Buyer Comment (2022-01-24): exception noted on uplaoded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000501   24569492 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI ( owners policy) does not reflect wind/hail coverage Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.    comp Factor: Reserves


Buyer Comment (2022-01-25): Reserves- XXXX showing an available balance of $XXX (uploaded) From that account final funds of $XXX were needed to close leaving $XXX (5.054 mos) for reserves.

Deposit funds - Statement from Closing attorney stating they were holding a total of $XXX was dated prior to bank statement and confirmed as cleared prior to final HUD due to only 13K needed to close.

An exception has been granted for verification of deposit funds, but reserves have been adequately shown.


Reviewer Comment (2022-01-25): exception remains-  unable to substantiate use of strong reserves as sole comp factor for loan which also has an exception for insufficient verified funds to close.  this is contradictory in nature,


Buyer Comment (2022-01-25): corrected approval uploaded


Reviewer Comment (2022-01-24): exception remains- unable to substantiate use of pride of ownership as sole comp factor for exception waiver for 4x cited exceptions.  Subject is a purchase and and comp factor is not supported by approval narrative


Buyer Comment (2022-01-24): exception noted on uplaoded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000352   24483528 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing Wind/hail coverage. Comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for missing Wind/hail coverage. Comp factor: seasoned investor


Buyer Comment (2022-01-21): exception has been granted based on the borrowers history of being an investor, also added as comp factor is low LTV
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Debt Consolidation   B B   A     No
XXXX XXXX 7000352   24484375 XXXX 01/14/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Business Purpose Letter of Intent not provided   missing BP disclosure document for subject note Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing BP disclosure.  comp Factor: Seasoned investor,  LTV


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Debt Consolidation   B B   A     No
XXXX XXXX 7000326   24570079 XXXX 01/24/2022 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Loan amounts less than $75,000 are not permitted according to the guidelines   approved exception at origination for loan amount of $XXk.  comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): approved exception at origination for loan amount of $XXXk. comp factor: seasoned investor
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000326   24570123 XXXX 01/24/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Down Payment Funds not provided   Insufficient underwritten funds to close.  Per approval assets section $XXk verified.  per estimated HUD, $XXk req'd to close The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient verified funds to close.  comp Factor: FICO


Buyer Comment (2022-01-25): An Exception is noted on uplaoded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000560   24570127 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOR -Primary.  an approved exception waiver is not documented The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-25): Approved exception documented on updated approval received in trailing documents for missing VOR.  Comp factor, LTV.


Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR.   comp Factor: LTV


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000560   24570143 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   approved exception at origination for Waiver of Insurance impounds.  comp Factor: Seasoned investor,  LTV Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): approved exception at origination for Waiver of Insurance impounds. comp Factor: Seasoned investor, LTV
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000560   24570150 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Owners policy is missing wind/hail coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage.  comp Factor: LTV


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000333   24562646 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds  is not documented as an approved exception. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO


Buyer Comment (2022-01-24): exceptionn noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000448   24575799 XXXX 01/24/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   only 1x major tradeline on credit report Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-26): Approved exception documented on updated approval received in trailing documents for number of trade lines.  Comp factor, seasoned investor.


Buyer Comment (2022-01-26): uploaded


Reviewer Comment (2022-01-25): Exception remains- no updated approval was received


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/26/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000448   24575803 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; Borrower lives Rent Free. Comp Factor - Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for missing VOR-primary; Borrower lives Rent Free. Comp Factor - Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000448   24577282 XXXX 01/24/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for 3x bankruptcies within 5 yrs. Comp Factor - Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for 3x bankruptcies within 5 yrs. Comp Factor - Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000448   24577301 XXXX 01/24/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for Subject mortgage lates; payoff shows 2 mos interest owed. Comp Factor - Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for Subject mortgage lates; payoff shows 2 mos interest owed. Comp Factor - Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000571   24462876 XXXX 01/12/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for 5x30 mtg lates in past 12 mos. Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-11): Approved exception at origination for 5x30 mtg lates in past 12 mos. Comp factor, seasoned investor.
     01/11/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000571   24463020 XXXX 01/12/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Credit report reflects Outstanding state tax liens totaling $XXX with no evidence of approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for outstanding tax liens  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted on uplaoded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000571   24464246 XXXX 01/12/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

CF- FICO		 Owner,Originator Pre-Close

Owner,Originator		 Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of ins impounds  comp Factor: FICO, Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000571   24464264 XXXX 01/12/2022 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Unable to determine comp factor for Approved exception for missing Wind and Hail coverage. status is 'unmitigated' Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

CF- FICO		 Owner,Originator Pre-Close

Owner,Originator		 Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage  comp Factor: FICO, Seasoned investor


Buyer Comment (2022-01-21): Corrected on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000463   24568242 XXXX 01/22/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Verification of Down Payment Funds not provided   1) VOF account screenshots in file do not evidence account ownership, no additional VOF documentation found in file to corroborate underwritten verified funds. 2) missing Final settlement stmt for cashout transaction referenced in approval assets section. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOF documentation.  comp Factor: Seasoned investor


Buyer Comment (2022-01-24): Exception noted on uploaded approval


Buyer Comment (2022-01-24): uploaded
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000415   24562910 XXXX 01/22/2022 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Waiver of Insurance impounds is not documented as an approved exception waiver. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: LTV


Buyer Comment (2022-01-24): Exception noted on uplaoded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000415   24567483 XXXX 01/22/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI ( owners policy)  1) contains loss of use and not loss of rents coverage.  2) does not evidence any liability coverage. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Exception 2) waived -  due to receipt of updated loan approval WS reflecting approved exception for missing liability Insurance    comp Factor: LTV  ( Exception 1 cleared- ubject to lender affirmation that the Provided EOI has been reviewed and is affirmed compliant with VCC guideline requirements.)


Buyer Comment (2022-01-24): exception for liability shown on uploaded loan approval


Buyer Comment (2022-01-24): 1.  Policy is shown as a landlord policy, loss of use is acceptable
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000415   24567522 XXXX 01/22/2022 Credit Credit Miscellaneous Credit Reverification of rent is inconsistent with original VOR   Missing VOR/VOM for primary housing.  Pays cash.  No approved exception documented. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary.   comp Factor: LTV


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000415   24567578 XXXX 01/22/2022 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Proof of Residency Status not provided   Missing Greencard/Visa for subject permanent resident alien borrower.  (  the provided Employment Authorization card does not satisfy the greencard/visa documentation requirement. ) The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missign Passport/greencard/Visa   comp Factor: LTV


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000415   24567655 XXXX 01/22/2022 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Approval not provided   First time investor discrepancy:  Approval worksheet indicates First time investor: No  however the narrative for the Borrower states she is a First time investor. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for First time investor   comp Factor: LTV


Buyer Comment (2022-01-24): UPlaoded approval corrected
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000452   24576902 XXXX 01/24/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for 3 Bankruptcies within 5 years.  Comp Factor - Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for 3 Bankruptcies within 5 years. Comp Factor - Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000452   24576908 XXXX 01/24/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for Subject mortgage late payments - Loan in Forbearance.  Comp Factor - Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for Subject mortgage late payments - Loan in Forbearance. Comp Factor - Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000452   24576928 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; Borrower lives Rent Free.  Comp Factor - Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for missing VOR-primary; Borrower lives Rent Free. Comp Factor - Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000452   24576955 XXXX 01/24/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   only 1x major tradeline on credit report. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient tradelines.    comp Factor: seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000460   24485127 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on multifamily refi in XXX county XX .  Comp factors, high FICO and seasoned investor. The representative FICO score exceeds the guideline minimum by XX points.

Borrower's Experience/Track Record		 FICO 755.

Borrower's Experience/Track Record. Seasoned investor.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-12): Approved exception at origination for LTV. Comp factors, high FICO and seasoned investor.
     01/12/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000460   24570014 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Unable to determine comp factor for approved exception for IL State exclusion override. status is 'unmitigated' The representative FICO score exceeds the guideline minimum by XX points. FICO 755. Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for  Override of IL state exclusion   comp Factor: FICO


Buyer Comment (2022-01-24): Corrected approval uploaded
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000368   24570180 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   approved exception at origination for FICO of 629.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): approved exception at origination for FICO of 629. comp factor: Seasoned investor
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000368   24575488 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000360   24568215 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects loss of use and not loss of rents coverage. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: FICO


Buyer Comment (2022-01-25): Exception noted
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000360   24568221 XXXX 01/23/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for  missing VOM- primary pay history.  Comp factor, seasoned investor, FICO Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for missing 12 months VOM on primary housing. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000360   24568288 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for rural subject property.  Comp factor, seasoned investor, FICO Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for rural property. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000559   24516896 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage capped at $XXX. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Flood coverage amount.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000559   24517055 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for waiver of insurance impounds. comp factor: Seasoned investor
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000559   24517133 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on cashout of investor auto service property .  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for LTV oXX% on cashout of investor auto service property . comp factor: Seasoned investor
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000559   24517137 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 1.07x.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for DSCR of 1.07x. comp factor: Seasoned investor
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000559   24517145 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held < 12 mos.  comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for cashout on property held < 12 mos. comp factor: Seasoned investor, FICO
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000466   24568828 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   Approved exception at origination for value seasoning/short sale.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for value seasoning/short sale. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000367   24570057 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for 2x matured VVCC notes & 1x90 due to maturity.  comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for 2x matured VVCC notes & 1x90 due to maturity. comp factor: Seasoned investor, FICO
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000367   24570058 XXXX 01/24/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for< 5 yrs since most receint of multiple BR (XX/XXXX).  comp factor: Seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for< 5 yrs since most receint of multiple BR ( XX/XX/XXXX). comp factor: Seasoned investor, FICO
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000367   24570060 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing wind/hail coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage.  comp Factor:  FICO


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000507   24454379 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for a DCR of 1.XX%.  Comp factor, strong reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves of $XXX. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination for a DCR XX%. Comp factor, strong reserves.
     01/10/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000507   24454409 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial The property is ineligible.   Approved exception at origination for deferred maintenance of $XXX.  Comp factors, strong reserves, seasoned investor, and high FICO. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.

Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Reserves of $XXX.

Borrower's Experience/Track Record. Seasoned investor.

FICO  780.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-10): Approved exception at origination for deferred maintenance of $XXX. Comp factors, strong reserves, seasoned investor, and high FICO.
     01/10/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000507   24454454 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for > XX% vacancy.  Comp factors, strong reserves, high FICO, and seasoned investor. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.

Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Reserves of $XXX.

Borrower's Experience/Track Record. Seasoned investor.

FICO  780.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-10): Approved exception at origination for XX% vacancy. Comp factors, strong reserves, high FICO, and seasoned investor.
     01/10/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000507   24458239 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing wind/hail coverage. The representative FICO score exceeds the guideline minimum by XX points. FICO  780. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage.  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000539   24566810 XXXX 01/22/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000539   24568302 XXXX 01/22/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for  missing VOM- subject pay history  Comp factor - Seasoned Investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for missing VOM- subject pay history Comp factor - Seasoned Investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000480   24568375 XXXX 01/22/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing rent loss coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor: FICO


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000482   24451737 XXXX 01/11/2022 Credit Loan Package Documentation Application / Processing Missing, Incorrect, or Incomplete Final or Initial 1003 Missing Document: Missing Final 1003   Application in file is not signed The representative FICO score exceeds the guideline minimum by XX points. FICO 753. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for failure to obtain signed application document prior to funding/ origination.   comp Factor: FICO


Buyer Comment (2022-01-25): Exception noted on uploaded approval


Reviewer Comment (2022-01-25): Exception remains- provided signature date isXX/XX/XXXX.  an exception waiver for failure to obtain a signed application document prior to loan funding is not documented.


Buyer Comment (2022-01-25): uploaded
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000482   24451809 XXXX 01/11/2022 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Missing evidence of property hazard & liability coverage for subject property ( EOI in file is for a different property /address) The representative FICO score exceeds the guideline minimum by XX points. FICO 753. Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing liability coverage.   comp Factor: FICO


Buyer Comment (2022-01-24): uploaded hazard. exceptioned missing liab
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000482   24456499 XXXX 01/11/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception waiver. The representative FICO score exceeds the guideline minimum by XX points. FICO 753. Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor:  FICO


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000482   24588329 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   New-  Uploaded EOI is missing law & ordinance coverage. The representative FICO score exceeds the guideline minimum by XX points. FICO 753. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: FICO


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000505   24567792 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 629.  Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV 55.8%. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for FICO of 629. Comp factor, low LTV.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000505   24567808 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held less than 12 months seasoning. Comp factor, low LTV. The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV 55.8%. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for less than 12 months seasoning. Property purchased through short sale 10/2021. Comp factor, low LTV.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000513   24523798 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000513   24523959 XXXX 01/19/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing Lease for traditional property type with loan amount > $XXX The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing lease   comp Factor: FICO, Seasoned investor


Buyer Comment (2022-01-24): uploaded


Reviewer Comment (2022-01-23): exception remains- missing comp factor; status is ;'unmitigated'


Buyer Comment (2022-01-21): exception noted on uplaoded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000513   24524025 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI is missing 1) Bus income/ loss of rents coverage and 2) law & ordinance coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing bus income and Law & ord coverage.  comp Factor: FICO


Buyer Comment (2022-01-21): exception noted on uplaoded approvla
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000436   24526956 XXXX 01/19/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing lease ( on trad II property with loan > $XXX). comp factor: Reserves, FICO, Seasoned Investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for missing lease. comp factor: Reserves, FICO, Seasoned Investor
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000436   24526963 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial LTV over 75%   Approved exception at origination for LTV of XX% on owner user office purchase. comp factor: Reserves, FICO, Seasoned Investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for LTV oXX% on owner user office purchase. comp factor: Reserves, FICO, Seasoned Investor
     01/18/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000540   24573706 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI  contains loss of use and not loss of rents coverage Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing loss of rents coverage.  comp Factor: Reserves


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000322   24456819 XXXX 01/11/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Approved exception at origination for outstanding tax lien > $XXk. Comp factors: strong reserves and seasoned investor. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves of $XXX. Owner,Originator Pre-Close Reviewer Comment (2022-01-10): Approved exception at origination for outstanding tax lien > $25k. Comp factors: strong reserves and seasoned investor.
     01/10/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000503   24576486 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Unable to determine comp factor for Approved exception for incomplete VOR-primary.  Status is 'unmitigated' The representative FICO score exceeds the guideline minimum by XX points. CF_ FICO Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary  comp Factor: FICO


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000534   24532358 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor


Buyer Comment (2022-01-21): Excetpion has been noted and approved by VCC Management.
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000534   24532368 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing law & ord coverage. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for missing law & ord coverage. comp factor: seasoned investor


Buyer Comment (2022-01-21): Excetpion has been noted and approved by VCC Management.
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000534   24532378 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 1.04x on investor office property with loan > $XXX. comp factor: seasoned investor, FICO Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for DSCR of 1.04x on investor office property with loan > $XXX. comp factor: seasoned investor, FICO


Buyer Comment (2022-01-21): Excetpion has been noted and approved by VCC Management.
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000534   24532392 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial LTV does not meet guidelines   Approved exception at origination for LTV of XX% on cashout refi of investor office property. comp factor: seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for LTV oXX% on cashout refi of investor office property. comp factor: seasoned investor


Buyer Comment (2022-01-21): Excetpion has been noted and approved by VCC Management.
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000362   24569650 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held less than 12 months .  Comp Factors  - Seasoned Investor and High FICO. Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-22): Approved exception at origination for cashout on property held less than 12 months . Comp Factors - Seasoned Investor and High FICO.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000362   24569653 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Rent Loss coverage of 6 months.  Comp Factors Seasoned Investor and High FICO. Borrower's Experience/Track Record CF_ seasoned investor Owner,Originator Reviewer Comment (2022-01-22): Approved exception at origination for Rent Loss coverage of 6 months. Comp Factors Seasoned Investor and High FICO.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000395   24482164 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   missing  Ordinance and Law coverage. ( 'not provided' per EOI)   An approved exception waiver is not documented. Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uplaoded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   B     No
XXXX XXXX 7000395   24482285 XXXX 01/14/2022 Property Property - Appraisal General Appraisal Requirements Property - Appraisal The appraisal revealed property damage.   Appraisal reflects deferred maintenance/repairs of $50,000. an approved exception is not documented. Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for $50k deferred maintenance.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   B     No
XXXX XXXX 7000098   24570062 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOM- primary.  comp factor: LTV The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for missing VOM- primary. comp factor: LTV
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000098   24570063 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held < 12 mos.  comp factor: LTV The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-23): Approved exception at origination for cashout on property held < 12 mos. comp factor: LTV
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000098   24570065 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI 1) reflects loss of use and not loss of rents 2) does not capture wind/hail coverage The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing Loss of rents & wind/hail coverage.  comp Factor: LTV, Seasoned investor


Buyer Comment (2022-01-24): Exceptions noted on uploaded aprpoval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000155   24569641 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for Insurance Escrow waived.  Comp factors - High FICO. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-22): Approved exception at origination for Insurance Escrow waived. Comp factors - High FICO.
     01/22/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000161   24569646 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   FICO of 648 is not documented as an approved exception waiver Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for FICO of 648.  comp Factor: Seasoned investor


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000176   24530806 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing 12 months VOM for primary housing.  No approved exception documented.  ( Final HUD provided for Primary Residence Settlement Date isXX/XX/XXXX in name of guarantor's spouse.) Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-26): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM- primary.    comp Factor: Reserves


Buyer Comment (2022-01-26): Exception noted on uploaded approval
     01/26/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000176   24533841 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Unable to substantiate comp factor for Approved exception for waiver of insurance impounds.   the sole Comp factor listed is seasoned investor, however approval transaction narrative reflects that borrower is a FT investor. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-26): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for waiver of ins impounds.    comp Factor: Reserves


Buyer Comment (2022-01-26): corrected on uplaoded
     01/26/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000364   24534584 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exceptions at origination for 1) missing VOR-primary; borrower lives rent Free.  2) Incomplete VOM- subject missing XX/XXXX.  com0p factor: Seasoned investor, DSCR, Seasoned business Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-19): Approved exceptions at origination for 1) missing VOR-primary; borrower lives rent Free. 2) Incomplete VOM- subject missing Feb-Mar 2021. com0p factor: Seasoned investor, DSCR, Seasoned business
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000364   24535110 XXXX 01/19/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for Trad II refi with loan > $XXX The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000055   24549226 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI is Missing Rent Loss coverage. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-23): Approved exception on updated approval for no rent loss coverage.  Comp factor, seasoned investor.


Buyer Comment (2022-01-22): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000055   24554918 XXXX 01/20/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Credit report reflects Federal & State tax liens aggregating to > $XXK. an approved exception is not documented. The Loan to Value (LTV) on the loan is less than the guideline maximum.

Borrower's Experience/Track Record		 LTV 70%.

Borrower's Experience/Track Record. Seasoned investor.		 Owner,Originator Pre-Close

Owner,Originator		 Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for outstanding tax liens > $20k.    comp Factor: seasoned investor LTV


Buyer Comment (2022-01-22): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000055   24554928 XXXX 01/20/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held < 12 mos.  comp factor: LTV The Loan to Value (LTV) on the loan is less than the guideline maximum. LTV 70%. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for cashout on property held < 12 mos. comp factor: LTV
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000055   24554938 XXXX 01/20/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   unable to determine comp factor for approved exception  for credit report ages> 60 days.  status is 'unmitigated' Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-23): Approved exception received on updated approval extending the credit expiration date to XX/XX/XXXX21.  Comp factor, seasoned investor.


Buyer Comment (2022-01-22): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000123   24511139 XXXX 01/18/2022 Credit Credit Miscellaneous Credit Reverification of mortgage is inconsistent with original VOM   missing VOM-primary pay history.  an approved exception waiver is not documented. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing VOM- primary   comp Factor: LTV


Buyer Comment (2022-01-21): Exceptoin noted
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000187   24568567 XXXX 01/22/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Carrier rating ( B+ )  Comp factor - Seasoned Investor. Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for Carrier rating ( B+ ) Comp factor - Seasoned Investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000187   24568618 XXXX 01/22/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage capped at $XXX.  an approved exception waiver is not documented Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Flood coverage amount.  comp Factor: Seasoned investor


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000230   24551956 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 641. Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-20): Approved exception at origination for FICO of 641. Comp factor, seasoned investor.
     01/20/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000230   24554983 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception . Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor,


Buyer Comment (2022-01-22): exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000230   24555616 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Cashout on property held < 12 mos is not documented as an approved exception waiver Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Cashout on recently listed property.  comp Factor: Seasoned investor,


Buyer Comment (2022-01-22): Exception noted. Per appraisal property has not been listed in the past 12 months. per prelim there was a title transfer XX/XXXX, but not a sale.
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000312   24504703 XXXX 01/18/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing 12 months mortgage rating on primary residence.  Comp factors, high FICO and seasoned investor. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 777.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-14): Approved exception at origination for missing 12 months mortgage rating on primary residence. Comp factors, high FICO and seasoned investor.
     01/14/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000312   24512355 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for Waiver of ins impounds.  Comp factors: Seasoned investor and high FICO. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-17): Approved exception at origination for Waiver of ins impounds. Comp factors: Seasoned investor and high FICO.
     01/17/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000312   24512358 XXXX 01/18/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for SFR condo refi The representative FICO score exceeds the guideline minimum by XX points. FICO 777. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000101   24511134 XXXX 01/18/2022 Credit Credit Miscellaneous Credit Reverification of mortgage is inconsistent with original VOM   missing VOM-primary pay history.  an approved exception waiver is not documented. The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM- primary comp Factor: LTV, FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000077   24560924 XXXX 01/21/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing Lease Agreement for 1 of the 2 units.  Lease provided for 1 unit only. Borrower's Experience/Track Record CF- Seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000071   24569365 XXXX 01/23/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing lease for subject traditional property with loan > $XXX. comp factor: Seasoned investor, seasoned business Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-22): Approved exception at origination for missing lease. comp factor: Seasoned investor, seasoned business
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000071   24569366 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-22): Approved exception at origination for waiver of ins impounds. comp factor: Seasoned investor
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000386   24533464 XXXX 01/19/2022 Credit Credit Miscellaneous Guideline Credit Exception:   Incomplete Trust Certification documents-  the signed docs in file contain blank fields in the body of the documents that appear to be intended to be completed at closing. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for incomplete Trust certification loan docs.  comp Factor: FICO


Buyer Comment (2022-01-25): Exception noted on uploaded approval


Reviewer Comment (2022-01-25): Exception remains- The uploaded document is a borrower trust document dated XXXX.  the cited incomplete document is the VCC loan document Certification of trust ( filed as  Certificate of authority) Dated as of the closing date in XXXX and with blank fields on lines 2,4,611


Buyer Comment (2022-01-24): UPloaded


Reviewer Comment (2022-01-23): exception remains- a completed copy of   the Certification of Trust VCC loan document was not received


Buyer Comment (2022-01-22): uploaded trust documets contain no blanks and are sufficiently completed.
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000497   24504327 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   DSCR < 1.20x is not documented as an approved exception  ( purchase exemption up to $XXX is specific to owner user property) The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for DSCR of 1.06x.  comp Factor: FICO


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000549   24489054 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   DSCR of 0.76x for investor mixed use property with loan > $XXX is not documented as an approved exception. ( $XXX purchase exemption is specific to owner user proeprties) Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for DSCR of 0.76x.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000549   24489069 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOM-primary.  Comp factor: seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-12): Approved exception at origination for no primary mortgage rating. Comp factor, seasoned investor.
     01/12/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000549   24509024 XXXX 01/14/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   XX% vacancy/ missing leases is not documented as an approved exception waiver Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): exception noted
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000033   24561240 XXXX 01/21/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOM on prior primary residence. Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for missing VOM on prior primary residence. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000190   24570068 XXXX 01/24/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Borrower Credit report address matched subject address The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for credit report address.    comp Factor: FICO


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000190   24570069 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOR/VOM- pay history.  only utility bills provided The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing VOM.    comp Factor: FICO


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000310   24505405 XXXX 01/18/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for 12 months mortgage rating on primary housing.  Comp factors, high FICO and seasoned investor. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 777.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-14): N/A script error.
     01/14/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000310   24505500 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   missing condo master Policy Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 777.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing condo master policy.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-21): uploaded approval citing exception
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000310   24512366 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception waiver. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): uploaded approval citing exception
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000310   24512367 XXXX 01/18/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease agreement for SFR condo refi. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 777.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing leases.  comp Factor: Seasoned investor, FICO


Buyer Comment (2022-01-21): uploaded approval citing exception
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000204   24569965 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for Missing VOR-primary; borrower lives rent free.  comp factor: LTV, FICO The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for Missing VOR-primary; borrower lives rent free. comp factor: LTV, FICO
     01/24/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000204   24577896 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Missing approved exception  override/waiver for Illinois statewide exclusion for all property types The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for override of statewide exclusion   comp Factor: LTV, FICO


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000492   24569449 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing law & ord coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage.  comp Factor: FICO, DSCR


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000228   24554200 XXXX 01/21/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI (owners policy) 1) reflects loss of use and not loss of rents coverage 2) does not reflect wind/hail coverage. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing Loss of renct and Wind/hail coverage.  comp Factor:  FICO


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000228   24561704 XXXX 01/21/2022 Credit Credit Miscellaneous Credit Reverification of mortgage is inconsistent with original VOM   Missing VOR for primary housing.  Lives rent free.  No approved exception documented. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOR- primary.  comp Factor:  reserves


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000074   24564268 XXXX 01/23/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower Lives rent free.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for no mortgage rating on primary housing. Lives rent free. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000074   24569512 XXXX 01/23/2022 Credit Credit Credit Eligibility Guideline Guideline Issue: Derogatory mortgage payments outside of credit guidelines   Approved exception at origination for Subject rating 1X30 in last 90 days, XX/XX due date paid XX/XX.  VOM provided.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-24): Approved exception at origination for Subject rating 1X30 in last 90 days, XX/XX/XXXXXX due date paid XX/XX/XXXXXX. VOM provided. Comp factor, seasoned investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000074   24569522 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   missing wind/hail coverage Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Reviewer Comment (2022-01-25): Approved exception documented on updated approval received in trailing documents for no wind/hail coverage.  Comp factor, seasoned investor.


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000047   24564561 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of Hazard Insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for waiver of Hazard Insurance impounds. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000047   24569525 XXXX 01/23/2022 Credit Credit Credit Documentation Missing Document  Missing Document: Credit Report not provided   Approved exception at origination for credit report aged > 60 days.  Comp Factors - Low LTV and Seasoned Investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for credit report aged > 60 days. Comp Factors - Low LTV and Seasoned Investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000162   24561813 XXXX 01/22/2022 Credit Small Balance Commercial General Small Balance Commercial LTV over 75%   Approved exception at origination for LTV of XX% on 2-family refinance transaction.  Comp factor, strong reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves of $XXX. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for LTV oXX%. Comp factor, strong reserves.
     01/21/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000162   24562486 XXXX 01/22/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for XX% vacancy.  Comp factor, strong reserves. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves of $XXX. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination foXX% vacancy. Comp factor, strong reserves.
     01/21/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000162   24567938 XXXX 01/22/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI does not reflect loss of rents coverage The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage.  comp Factor:  FICO


Buyer Comment (2022-01-25): Exception noted for loss of rents


Reviewer Comment (2022-01-25): exception remains-  Missing loss of rents coverage is not documented as an approved exception waiver


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000162   24588294 XXXX 01/24/2022 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided   Missing lender's  Secondary Ops appraisal  for 2 family property with loan > $XXMM Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. Reserves of $XXX. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing secondary ops appraisal  comp Factor: Reserves


Buyer Comment (2022-01-24): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Rate/Term   B B   A     No
XXXX XXXX 7000457   24489671 XXXX 01/14/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved at origination for missing VOM-primary; mortgage in spouses name.  Comp factors; seasoned investor and high FICO. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 798.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-12): Approved at origination for no primary housing rating. Comp factors, seasoned investor and high FICO.
     01/12/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000457   24489676 XXXX 01/14/2022 Credit Small Balance Commercial General Small Balance Commercial Debt service ratio issue   Approved exception at origination for DSCR of 1.05x.  Comp factors; seasoned investor and high FICO. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 798.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-12): Approved exception at origination for debt service ratio XX%. Comp factors, seasoned investor and high FICO.
     01/12/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000165   24564895 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Approved exception at origination for FICO of 605.  Comp factor, seasoned investor, LTV Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for FICO of 605. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000165   24564931 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for missing Wind and Hail coverage.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for Wind and Hail Insurance (Special) waived impounds. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000165   24564953 XXXX 01/23/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for vacancy of XX%, no lease on back unit.  Comp factor, seasoned investor, LTV Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for vacancy of XX%, no lease on back unit. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000165   24569605 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of ins impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for waiver of ins impounds. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000318   24565154 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of insurance impounds is not documented as an approved exception. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Reserves


Buyer Comment (2022-01-24): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000318   24565203 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1) Liability coverage of $XXX is <  $XXX guideline minimum. 2)   Missing Rent Loss Coverage. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for insufficient liability coverage and Missing loss of rents coverage .  comp Factor: Reserves


Buyer Comment (2022-01-24): Excepton noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000318   24569611 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage capped at $XXX.  an approved exception waiver is not documented. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. CF- reserves Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for flood coverage amount.  comp Factor: Reserves


Buyer Comment (2022-01-24): Exception noted on uploaded apprval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000235   24516410 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage  capped at $XXX . an approved exception waiver is not documented Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Flood coverage amount   comp Factor: Seasoned investor


Buyer Comment (2022-01-22): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000235   24516436 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   coverage amount of $XXX is less than the loan amount $XXX and appraisal replacement cost of $XXX. Guaranteed replacement cost is not evidenced Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for coverage amount.  comp Factor: seasoned investor


Buyer Comment (2022-01-24): Uploaded


Reviewer Comment (2022-01-23): Exception remains- guaranteed replacement cost is not evidenced. please provide either replacement cost estimator demonstrating sufficient coverage or approval with exception waiver.


Buyer Comment (2022-01-22):XX% replacement cost is noted on policy. This provides needed coverage
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000235   24537405 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of Hazard and Flood Insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Approved exception at origination for waiver of Hazard and Flood Insurance impounds. Comp factor, seasoned investor.
     01/19/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000213   24569329 XXXX 01/23/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM/VOR- primary.  an approved exception is not documented Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary.    comp Factor: seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   B     No
XXXX XXXX 7000213   24569331 XXXX 01/23/2022 Property Property - Appraisal General Appraisal Requirements Property - Appraisal The appraisal revealed property damage. Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX Appraisal reflects damage to Roof with est cost of repair of $XXX Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for repairs/deferred maint amount.    comp Factor: seasoned investor


Buyer Comment (2022-01-25): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   B     No
XXXX XXXX 7000273   24562932 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for Special Broad or DP3 Policy.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-21): Approved exception at origination for Special Broad or DP3 Policy. Comp factor, seasoned investor.
     01/21/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000273   24568355 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of Insurance impounds is not documented as an approved exception Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000273   24568552 XXXX 01/23/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM on primary housing.  No approved exception documented. The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary.   comp Factor: FICO


Buyer Comment (2022-01-25): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Purchase   B B   A     No
XXXX XXXX 7000315   24506413 XXXX 01/18/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   less than 12 months mortgage rating on primary housing. An approved exception waiver is not documented The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missingVOM- primary.  comp Factor: FICO, Seasoned investor


Buyer Comment (2022-01-21): uplaoded approval


Buyer Comment (2022-01-21): uploaded
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000315   24512368 XXXX 01/18/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Missing lease for SFR refinance The representative FICO score exceeds the guideline minimum by XX points. CF- FICO Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for missing Lease.  comp Factor: FICO, DSCR


Buyer Comment (2022-01-21): uploaded
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000082   24569357 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial FICO below 650   Unable to determine comp factor for approved exception for FICO of 625.  status is unmitigated. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-25): approved exception documented on updated approval received in trailing documents for FICO less than 650.  Comp factor, seasoned investor.


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000082   24569358 XXXX 01/23/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Missing VOM-primary pay history.  an approved exception is not documented Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-25): Approved exception documented on updated approval received in trailing documents for missing VOM.  Comp factor, seasoned investor.


Buyer Comment (2022-01-25): Exception noted on uploaded aprpoval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000082   24569654 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Waiver of ins impounds is not documented as an approved exception Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-25): Approved exception documented on updated approval received in trailing document for waiver of Insurance impounds.  Comp factor, seasoned investor.


Buyer Comment (2022-01-25): Exception noted on uplaoded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000082   24569656 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Missing 1) Wind/hail coverage 2) EOI for liability coverage Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Reviewer Comment (2022-01-25): Approved exception documented on updated approval received in trailing documents for waiver of Wind/Hail and Liability Insurance coverage.  Comp factor, seasoned investor.


Buyer Comment (2022-01-25): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000237   24537349 XXXX 01/19/2022 Credit Credit Credit Documentation Credit Missing lease Agreement   Approved exception at origination for missing Leases Agreement on a 2 family refinance.  Comp factors, seasoned investor and high FICO. Borrower's Experience/Track Record

The representative FICO score exceeds the guideline minimum by XX points.		 Borrower's Experience/Track Record. Seasoned investor.

FICO 718.		 Owner,Originator Pre-Close

Owner,Originator Pre-Close		 Reviewer Comment (2022-01-19): Approved exception at origination for missing Leases Agreement on a 2 family refinance. Comp factors, seasoned investor and high FICO.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000237   24537357 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-19): Approved exception at origination for waiver of insurance impounds. Comp factor, seasoned investor.
     01/19/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000220   24520598 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   1) Missing Wind/hail coverage 2) EOI reflect loss of use and not loss of rents coverage Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exceptions for missing Wind/ hailr & loss of rents coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): uploaded loan approval reflecting exception
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000220   24520927 XXXX 01/19/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-primary; borrower lives rent free.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: Seasoned investor
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000220   24521076 XXXX 01/19/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Approved exception at origination for rural subject property.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for rural subject property. comp factor: Seasoned investor
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000220   24521082 XXXX 01/19/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   Approved exception at origination for no major tradelines on credit report.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for no major tradelines on credit report. comp factor: Seasoned investor
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000220   24521098 XXXX 01/19/2022 Credit Loan Package Documentation Loan File Missing Document  Missing Document: Hazard Insurance Policy not provided   Approved exception at origination for Insufficient liability coverage amount.  comp factor: Seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-18): Approved exception at origination for Insufficient liability coverage amount. comp factor: Seasoned investor
     01/18/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000220   24522691 XXXX 01/19/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Outstanding chargeoffs/ collections which aggregate to > $5k  an approved exception waiver is not documented Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for chargeoffs/collections.  comp Factor: Seasoned investor


Buyer Comment (2022-01-21): uploaded loan approval reflecting exception
     01/23/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000319   24503534 XXXX 01/18/2022 Credit Guideline Guideline Issue Guideline Note loan amount is greater than guideline maximum. Note loan amount of $XXX is greater than guideline maximum loan amount of $XXX. Approved exception at origination for loan amount $XXX.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track  Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-14): Approved exception at origination for loan amount $XXX. Comp factor, seasoned investor.
     01/14/2022 2 B XX/XX/XXXX Purchase   D B   D     No
XXXX XXXX 7000319   24503541 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Approved exception at origination for 7 months Rent Loss Coverage.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track  Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-14): Approved exception at origination for 7 months Rent Loss Coverage. Comp factor, seasoned investor.
     01/14/2022 2 B XX/XX/XXXX Purchase   D B   D     No
XXXX XXXX 7000319   24503667 XXXX 01/18/2022 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Supporting secondary BPO was provided.; Sec ID: 5 Note Date:  XX/XX/XXXX; Lien Position: 1 Secondary ( ops) valuation obtained at origination was a BPO.       Reviewer Comment (2022-01-25): exception remains due to rating agency requirements.


Reviewer Comment (2022-01-25): Exception remains ( EV2) as a requirement of rating agencies. ( receipt of a CDA would clear)


Buyer Comment (2022-01-25): Exception noted on uploaded approval
       2 D XX/XX/XXXX Purchase   D B   D     No
XXXX XXXX 7000319   24512334 XXXX 01/18/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Flood insurance   Flood coverage capped at $XXX.  an approved exception waiver is not documented. Borrower's Experience/Track Record Borrower's Experience/Track  Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-23): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for flood coverage amount   comp Factor: Seasoned investor


Buyer Comment (2022-01-21): Exception noted on uploaded approval
     01/23/2022 2 B XX/XX/XXXX Purchase   D B   D     No
XXXX XXXX 7000017   24569518 XXXX 01/23/2022 Credit Credit Credit Calculation / Analysis Credit Guideline Issue:  Insufficient tradelines per credit guidelines   only 1 open/active major tradeline per credit report.  an approved exception is not documented The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for insufficient tradelines   comp Factor: LTV


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000017   24569616 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held < 12 mos.  comp factor: LTV The Loan to Value (LTV) on the loan is less than the guideline maximum. CF- LTV Owner,Originator Reviewer Comment (2022-01-22): Approved exception at origination for cashout on property held < 12 mos. comp factor: LTV
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000018   24569333 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for Hazard, liability, and windstorm insurance impound waiver. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000018   24569354 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   Approved exception at origination for cashout on recently listed property.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for property being listed within last 6 months. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000018   24569614 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Blanket liability policy without required endorsement for full coverage amount applicable to each covered location. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Blanket liability coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000019   24569606 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for Hazard, liability, and windstorm insurance impounds waived..  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for Hazard, liability, and windstorm insurance impounds waived.. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000019   24569615 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   Approved exception at origination for property being listed within last 6 months.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for property being listed within last 6 months. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000019   24569631 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Blanket liability policy without required endorsement for  full coverage amount applicable to each covered location Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for blanket liability coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000020   24569619 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of   insurance impounds.  Comp factor, seasoned investor, Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for waiver of Hazard, liability, and windstorm insurance impounds. Comp factor, seasoned investor,
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000020   24569623 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   Approved exception at origination for property being listed within last 6 months.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for property being listed within last 6 months. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000020   24569630 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Blanket liability policy without required endorsement for  full coverage amount applicable to each covered location Borrower's Experience/Track Record Borrower's Experience/Track Record.  Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Blanket liability coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000021   24569632 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Blanket liability policy without required endorsement for  full coverage amount applicable to each covered location Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Blanket liability coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000021   24569643 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   Approved exception at origination for property listed within last 6 months.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for property listed within last 6 months. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000021   24569647 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of  insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for waiver of Hazard, liability and windstorm insurance impounds. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000022   24569633 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   Blanket liability policy without required endorsement for  full coverage amount applicable to each covered location Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Blanket liability coverage.  comp Factor: Seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000022   24569655 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   Approved exception at origination for properties listed within last 6 months.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for properties listed with last 6 months. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000022   24569659 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for waiver of  insurance impounds.  Comp factor, seasoned investor. Borrower's Experience/Track Record Borrower's Experience/Track Record. Seasoned investor. Owner,Originator Pre-Close Reviewer Comment (2022-01-22): Approved exception at origination for waiver of Hazard, liability, and windstorm insurance impounds. Comp factor, seasoned investor.
     01/22/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000023   24569536 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial The property has been listed for sale in the last 12 months.   Cashout on property held < 6 mos. an approved exception is not documented The representative FICO score exceeds the guideline minimum by XX points. FICO 803. Owner,Originator Reviewer Comment (2022-01-25): Approved exception documented on updated approval for seasoning less than 6 months on a cash out refinance.  Comp factor, high FICO.


Buyer Comment (2022-01-25): exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000024   24569638 XXXX 01/23/2022 Credit Small Balance Commercial General Small Balance Commercial Property has been listed for sale in the past 12 months.   Approved exception at origination for cashout on property held < 6 mos. comp factor: FICO, seasoned investor Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for cashout on property held < 6 mos. comp factor: FICO, seasoned investor
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000025   24570107 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Ineligible property   Missing Override waiver for  Illinois statewide ineligibility restriction on loans for all property type; The representative FICO score exceeds the guideline minimum by XX points. FICO 695 Owner,Originator Reviewer Comment (2022-01-25): Approved exception documented on updated approval for override of state exclusion (IL).  Comp factor, high FICO.


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000026   24578263 XXXX 01/24/2022 Credit Credit Credit Documentation Guideline Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided   Approved exception at origination for missing VOR-Primary; borrower lives Rent Free.  Comp Factor - Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for missing VOR-Primary; borrower lives Rent Free. Comp Factor - Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000026   24578302 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Missing Hazard Insurance   Approved exception at origination for Waiver of Insurance impounds.   Comp Factor; Seasoned Investor. Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-24): Approved exception at origination for Waiver of Insurance impounds. Comp Factor; Seasoned Investor.
     01/24/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000026   24578384 XXXX 01/24/2022 Credit Small Balance Commercial General Small Balance Commercial Insufficient Hazard Insurance   EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for Missing required blanket endorsement.    comp Factor: seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No
XXXX XXXX 7000026   24578423 XXXX 01/24/2022 Credit Credit Credit Eligibility Credit Guideline Issue: Derogatory consumer credit outside of credit guidelines   Credit report reflects Outstanding/unpaid child support/ collections aggregating to > $XXk.  an approved exception waiver is not documented Borrower's Experience/Track Record CF- seasoned investor Owner,Originator Reviewer Comment (2022-01-25): Exception waived -  due to receipt of updated loan approval WS reflecting approved exception for unpaid collections.    comp Factor: seasoned investor


Buyer Comment (2022-01-25): Exception noted on uploaded approval
     01/25/2022 2 B XX/XX/XXXX Refinance - Cash-out - Other   B B   A     No