MORGAN STANLEY CAPITAL I INC. ABS-15G

Exhibit 99.2 - Schedule 1

Exception Grades

Run Date - 5/8/2024 10:08:40 PM

SitusAMC Loan ID

Customer Loan ID

Seller Loan ID

Investor Loan Number

Loan Exception ID

Exception ID

Exception Date

Exception Type

Exception Category

Exception Subcategory

15E Category

Exception

Exception Detail

Exception Information

Compensating Factors

Compensating Factor Information

Applying Party

Follow-up Comments

Cleared Date

Cured Date

Waived Date

Exception Level Grade

DBRS Initial Exception Rating

DBRS Final Exception Rating

Fitch Initial Exception Rating

Fitch Final Exception Rating

Kroll Initial Exception Rating

Kroll Final Exception Rating

Moody's Initial Exception Rating

Moody's Final Exception Rating

S&P Initial Exception Rating

S&P Final Exception Rating

Note Date

Property State

Occupancy

Purpose

Exception Remediation

Overall Initial Loan Grade

Overall Final Loan Grade

Credit Initial Loan Grade

Credit Final Loan Grade

Compliance Initial Loan Grade

Compliance Final Loan Grade

Property Initial Loan Grade

Property Final Loan Grade

Originator QM ATR Status

TPR QM ATR Status

Is Curable

219448490

[Redact]

[Redact]

27683536

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Reviewer Comment (2023-01-27): Documentation confirming the business entity was provided Seller Comment (2023-01-26): An operating agreement is not required, this is a solely owned entity, attached is the smartlinx report reflecting same.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

C

A

D

A

N/A

No

219448490

[Redact]

[Redact]

27683541

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Reviewer Comment (2023-01-27): Documentation confirming the business entity was provided Seller Comment (2023-01-26): Per section 14 of the guidelines a corporate resolution is not required.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

C

A

D

A

N/A

No

219448490

[Redact]

[Redact]

27683544

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Reviewer Comment (2023-01-27): Documentation confirming the business entity was provided Seller Comment (2023-01-26): Good standing documentation uploaded for review.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

C

A

D

A

N/A

No

219448490

[Redact]

[Redact]

27683545

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2023-01-27): Documentation confirming the business entity was provided Seller Comment (2023-01-26): Articles uploaded for review.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

C

A

D

A

N/A

No

219448490

[Redact]

[Redact]

27683702

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

The file is missing a copy of the secondary valuation required for securitization purposes.

Reviewer Comment (2023-01-27): Secondary valuation obtained Reviewer Comment (2023-01-27): Desktop Review is not an acceptable secondary valuation.  CDA ordered at client's request.  Condition remains Seller Comment (2023-01-26): Desk review uploaded for review.

01/27/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

C

A

D

A

N/A

No

219448494

[Redact]

[Redact]

27682691

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Reviewer Comment (2023-01-27): Business entity documentation provided Seller Comment (2023-01-26): Entity documents uploaded for review.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

219448494

[Redact]

[Redact]

27682703

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Reviewer Comment (2023-01-27): Business entity documentation provided Seller Comment (2023-01-26): Per section 14 of the guidelines a corporate resolution is not required.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

219448494

[Redact]

[Redact]

27682704

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2023-01-27): Business entity documentation provided Seller Comment (2023-01-26): Entity documents uploaded for review.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

219448494

[Redact]

[Redact]

27682775

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

Reviewer Comment (2023-01-27): Documentation provided verifying warrantabiliy Seller Comment (2023-01-26): Updated 1008 uploaded for review.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

219448496

[Redact]

[Redact]

27671919

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

The file was missing the secondary valuation required for securitization purposes.

Reviewer Comment (2023-01-25): Secondary valuation obtained Reviewer Comment (2023-01-25): Desktop Review is not an acceptable secondary valuation.  CDA ordered at client's request.  Condition remains Seller Comment (2023-01-25): Desk review uploaded for review.

01/25/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

C

A

D

A

N/A

No

219448496

[Redact]

[Redact]

27672120

Credit

Insurance

Insurance Documentation

Insurance

Rent loss insurance is required on all properties and there is no evidence of this insurance in the file.

Rent loss coverage is not indicated on the Certificate of Insurance. Please provide evidence of adequate insurance coverage.

Reviewer Comment (2023-01-27): Rent loss coverage provided Seller Comment (2023-01-26): HOI declaration with rent loss uploaded for review.

01/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

C

A

D

A

N/A

No

220099147

[Redact]

[Redact]

[Redact]

28487434

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-07-12): Waived on Rate Lock: Collateral cleared by Custodian

07/12/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220099147

[Redact]

[Redact]

[Redact]

28487435

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-07-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-07-10): (Rate Lock) [Redact] tracking #: [Redact] Seller Comment (2023-07-06): (Rate Lock) Delivered [Redact]

07/12/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220325876

[Redact]

[Redact]

[Redact]

28866756

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-09-14): Waived on Rate Lock: Collateral cleared by Custodian

09/14/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220325876

[Redact]

[Redact]

[Redact]

28866757

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-09-14): Waived on Rate Lock: Collateral cleared by Custodian

09/14/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220325876

[Redact]

[Redact]

[Redact]

29032380

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

The property is located in FEMA Disaster area.  Provide a post-disaster inspection verifying there was no damage.  The inspection must include exterior photos and the property must be re-inspected on or after [Redact] declared end date.

Reviewer Comment (2023-09-15): Post-disaster inspection provided Seller Comment (2023-09-14): [Redact] - Please see attached PDI.

09/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220325876

[Redact]

[Redact]

[Redact]

29036012

Credit

Missing Document

General

Missing Document

Missing Document: Desk Review not provided

The file is missing a copy of the CDA to support the appraised value.  Per the guidelines, the CU score is not an acceptable secondary valuation.  Note: The CDA must be completed within 120 days that precede the date of the closing of the mortgage loan.

Reviewer Comment (2023-10-25): Secondary valuation provided Seller Comment (2023-10-25): [Redact]: CDA attached.

10/25/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220381927

[Redact]

[Redact]

29021800

Credit

Guideline

Guideline Issue

Guideline

The Guarantor's Percent of Business Ownership does not meet guideline requirements.

- % of Business Ownership: ___

Borrower owns 99% of Business. Additional member not on loan. Lender exception provided in loan file.

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

Loan to Value: 61.87050% 7.08 months reserves greater than min required of 4 months.

SitusAMC,Aggregator SitusAMC,Originator Pre-Close,Aggregator

Reviewer Comment (2023-09-11): Client elected to waive the condition based on the following comp factors: 7.08 months reserves greater than min required of 4 months.

09/11/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

220381946

[Redact]

[Redact]

29027585

Credit

Missing Document

General

Missing Document

Missing Document: HUD/CD not provided

The file was missing a copy of the HUD/CD

Reviewer Comment (2023-09-12): CD provided Seller Comment (2023-09-12): uploaded CD

09/12/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220405411

[Redact]

[Redact]

29036889

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Loan designation failure due to ATR failure.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-09-14): Third party verification of the business provided

09/14/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

220405411

[Redact]

[Redact]

29036890

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Bank Statements

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current employment status using reasonably reliable third-party records.

The file is missing a copy of CPA letter or Third Party Verification.

Reviewer Comment (2023-09-14): Third party verification of the business provided Seller Comment (2023-09-14): uploaded business narrative and Operating agreement for [Redact] - borrower is sole owner

09/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220405411

[Redact]

[Redact]

29036892

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR failure due to insufficient income documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-09-14): Third party verification of the business provided

09/14/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220405411

[Redact]

[Redact]

29036893

Compliance

Compliance

State Compliance

State HPML

(State HPML Provision) North Carolina Rate Spread Home Loan (Ability to Repay Requirements Not Met)

North Carolina Rate Spread Home Loan: Ability to repay requirements not met.

The spread between the APOR and APR exceeds the maximum allowable tolerance.

Reviewer Comment (2023-09-14): Third party verification of the business provided

09/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

See any available cure under the North Carolina Rate Spread Home Loan threshold exception.

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220405411

[Redact]

[Redact]

29036894

Compliance

Compliance

State Compliance

State HPML

North Carolina Rate Spread Threshold Test Non-Compliant

North Carolina Rate Spread Home Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 2.5%, or [Redact].  Non-Compliant Rate Spread Home Loan.

The spread between the APOR and APR exceeds the maximum allowable tolerance.

Reviewer Comment (2023-09-14): Third party verification of the business provided

09/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Within 90 days of closing and prior to institution of any action against the lender, (1) notify the borrower, and (2) make appropriate restitution at the option of the borrower to either (a) make the loan comply with prohibited acts and practices or (b) change the terms of the loan in a manner beneficial to the borrower so the loan is no longer rate spread.   (Limited Use Bona Fide Errors - Compliance and Client Approval Required)   Within 120 days of discovery, provide: (1) Legal opinion from originating lender with loan-specific details on how a rate spread home loan was made despite procedures to prevent and confirms (i) the failure constitutes a bona fide error for the jurisdiction in which the property is located, and (ii) that the lender has not received any notice from the borrower of the failure; (2) procedures or explanation of controls in place to prevent such errors; (3) client written approval accepting use of the bona fide error cure; (4) signed borrower choice letter to either (a) accept refund and make loan non-rate spread loan or (b) keep loan as a rate spread loan and make loan compliant;  (5) If option 4(a) is selected, copy of refund check and proof of mailing; (6) If option 4(b) is selected, proof of cure for each of the prohibited practice violations. Note, a cure may not be accepted if the seller/lender has certified a fix has been made to their system and the same issue continues to occur after the fix has been put into place.

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

220436370

[Redact]

[Redact]

[Redact]

29078911

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-10-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-10-13): The collateral was delivered [Redact] at 945am via [Redact] trk#[Redact].

10/16/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220436370

[Redact]

[Redact]

[Redact]

29078912

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-10-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-10-13): The collateral was delivered [Redact] at 945am via [Redact] trk#[Redact].

10/16/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220436866

[Redact]

[Redact]

[Redact]

29081249

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-10-13): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-10-12): The collateral was delivered [Redact] at 945am via [Redact] trk#[Redact].

10/13/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220436866

[Redact]

[Redact]

[Redact]

29081250

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-10-13): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-10-12): The collateral was delivered [Redact] at 945am via [Redact] trk#[Redact].

10/13/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220451188

[Redact]

[Redact]

[Redact]

29087762

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-10-31): Waived on Rate Lock: Collateral cleared by Custodian

10/31/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220451188

[Redact]

[Redact]

[Redact]

29087763

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-10-31): Waived on Rate Lock: Collateral cleared by Custodian

10/31/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220451188

[Redact]

[Redact]

[Redact]

29342587

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact]  Provide updated policy reflecting minimum coverage OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2023-10-31): RCE provided Seller Comment (2023-10-27): rce

10/31/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220481582

[Redact]

[Redact]

[Redact]

29096495

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-11-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-11-22): The collateral was delivered [Redact] at 9:45am via [Redact] trk#[Redact].

11/27/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220481582

[Redact]

[Redact]

[Redact]

29096496

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-11-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-11-22): The collateral was delivered [Redact] at 9:45am via [Redact] trk#[Redact].

11/27/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220537524

[Redact]

[Redact]

[Redact]

29228582

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-28): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-26): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

12/28/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220537524

[Redact]

[Redact]

[Redact]

29228583

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-28): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-26): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

12/28/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220537524

[Redact]

[Redact]

[Redact]

29684283

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Copy of Business Purpose Certificate not available in file.

Reviewer Comment (2023-12-26): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2023-12-26): Please see attached Business Purpose Certificate .

12/26/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220537524

[Redact]

[Redact]

[Redact]

29684380

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___.

We have lender exception in file for the DSCR requirements.

The representative FICO score exceeds the guideline minimum by at least 40 points. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

FICO 763/min 720; 43 points higher than min required. Reserves of 59 months/ min required of 15; 3x minimum required LTV 28.283 vs max of 75:; 46.72 points below maximum

SitusAMC,Originator Pre-Close,Aggregator Originator Pre-Close,Aggregator,SitusAMC Originator Pre-Close,Aggregator,SitusAMC

Reviewer Comment (2023-12-20): Client elected to waive the condition with the following Customer Compensating Factors: * LTV 28.283 vs max of 75:; 46.72 points below maximum * Reserves of 59 months/ min required of 15; 3x minimum required * FICO 763/min 720; 43 points higher than min required.

12/20/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220539330

[Redact]

[Redact]

[Redact]

29231816

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-11-23): Waived on Rate Lock: Collateral cleared by Custodian

11/23/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220539330

[Redact]

[Redact]

[Redact]

29231817

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-11-23): Waived on Rate Lock: Collateral cleared by Custodian

11/23/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220539330

[Redact]

[Redact]

[Redact]

29485827

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

11/21/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220539330

[Redact]

[Redact]

[Redact]

29485828

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Reviewer Comment (2023-11-21): Client elected to waive the condition on the Non-QM 1st lien

11/21/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

Yes

220539330

[Redact]

[Redact]

[Redact]

29485831

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2023-11-21): Sufficient Cure Provided At Closing

11/21/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Final CD evidences Cure

C

B

C

A

B

B

A

A

Non QM

Non QM

Yes

220539330

[Redact]

[Redact]

[Redact]

29485901

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact].  Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current  coverage amount.

Reviewer Comment (2024-01-16): RCE provided Seller Comment (2024-01-16): [Redact]: Please see the attached RCE. Reviewer Comment (2023-12-28): Dwelling coverage-[Redact], Replacement cost-[Redact]. Still have shortfall of [Redact]. Provide a copy of the replacement cost estimator from the insurance company, a revised policy/declaration page with increased coverage, or documentation from the insurance company verifying the policy has Guaranteed Replacement cost coverage.  Exception Remains Seller Comment (2023-12-28): [Redact]: Please note that the letter from the insurance agent confirming that the replacement cost is the loss settlement basis for the policy is an acceptable alternative to the RCE. The letter is from [Redact], who was brokered through the [Redact] as an independent insurance agent. Reviewer Comment (2023-11-26): Required RCE or updated policy with sufficient coverage to cover shortfall of [Redact]. Exception Remains. Seller Comment (2023-11-24): [Redact]: Please see the attached letter from the insurance agent stating that the replacement cost is the loss settlement basis for the policy.

01/16/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220539330

[Redact]

[Redact]

[Redact]

30138442

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Missing Business Narrative for [Redact]. Bank Statement Income Requirements state a signed written Business Narrative from the borrower is required that must include what the business does and who the customer is, number of full-time employees, description of operations, and any other pertinent information relative to deposits and expenses.  The file does not contain this document for [Redact].

Reviewer Comment (2024-03-12): Business Narrative provided. Exception cleared. Seller Comment (2024-03-12): [Redact]: [Redact]. Seller Comment (2024-03-12): [Redact]: Please see the attached business narrative containing 1) what the business does and who the customer is; 2) Number of full-time employees; 3) Description of operations; and 4) Any other pertinent information relative to deposits and expenses.

03/12/2024

1

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220546666

[Redact]

[Redact]

[Redact]

29257182

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-11-03): Waived on Rate Lock: Collateral cleared by Custodian

11/03/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220546666

[Redact]

[Redact]

[Redact]

29257183

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-11-03): Waived on Rate Lock: Collateral cleared by Custodian

11/03/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220546666

[Redact]

[Redact]

[Redact]

29361718

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___.

Per guidelines, minimum DSCR is 1.15 for cash out refinances. Lender exception provided in loan file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has owned the subject property for at least 5 years. The representative FICO score exceeds the guideline minimum by at least 40 points. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

* (Post-Closing) Reserves of [Redact] (37 Months) VS [Redact] (6 Months) required * FICO of 765 VS Min FICO of 720 * LTV of 58.62% VS Max of 75%

SitusAMC,Originator,Aggregator SitusAMC Originator,Aggregator,SitusAMC Originator,Aggregator,SitusAMC

Reviewer Comment (2023-10-31): Client elected to waive the condition with the following Compensating Factors: * (Post-Closing) Reserves of v (37 Months) VS [Redact] (6 Months) required * FICO of 765 VS Min FICO of 720 * 0x30 on mortgages from [Redact] to [Redact] * LTV of 58.62% VS Max of 75%

10/31/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220546666

[Redact]

[Redact]

[Redact]

29362364

Credit

Compliance

Miscellaneous Compliance

Compliance

Missing Document: Closing Disclosure not provided

The file is missing page 1 of the final CD.

Reviewer Comment (2023-11-05): Received 1st page of CD. Exception Cleared. Seller Comment (2023-11-03): Page 1

11/05/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220578378

[Redact]

[Redact]

[Redact]

29332266

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-07): Waived on Rate Lock: Collateral cleared by Custodian

12/07/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220578378

[Redact]

[Redact]

[Redact]

29332267

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-07): Waived on Rate Lock: Collateral cleared by Custodian

12/07/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220595167

[Redact]

[Redact]

[Redact]

29362322

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-20): Waived on Rate Lock: Collateral cleared by Custodian

12/20/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220595167

[Redact]

[Redact]

[Redact]

29362323

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-20): Waived on Rate Lock: Collateral cleared by Custodian

12/20/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220595167

[Redact]

[Redact]

[Redact]

29626475

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Verification appraisal was delivered to borrower was not provided.

12/07/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220595167

[Redact]

[Redact]

[Redact]

29626476

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Reviewer Comment (2023-12-13): Client elected to waive the condition on the Non-QM 1st lien Seller Comment (2023-12-11): Disagree - Please note that the Fannie Mae points and fees also known as QM test does not apply to this product type (bank statement) as it is a non-agency loan.

12/13/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220596070

[Redact]

[Redact]

29364670

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Missing evidence of access to funds in the [Redact] account in the name of [Redact], which was listed on the final 1003 as funds used for closing. Business accounts may be considered for assets. The amount of business assets that may be utilized is limited to the borrower's ownership percentage in the business.

Reviewer Comment (2023-09-21): [Redact] account # [Redact] not used for cash to close requirement, cash to close requirement met without considering business account. Exception Cleared Buyer Comment (2023-09-20): Per lender: Please see attached email detail from our underwriter confirming that those business assets were not necessary for our file. Per the application borrower has total funds of [Redact] with the business account of [Redact]/[Redact] with balance of [Redact]. Subtract [Redact] from [Redact] = [Redact] sufficient funds without the Business Assets. Funds to close [Redact] plus reserves [Redact] = [Redact]

09/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220611088

[Redact]

[Redact]

[Redact]

29388360

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-08): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

01/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220611088

[Redact]

[Redact]

[Redact]

29388361

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-08): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

01/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220611088

[Redact]

[Redact]

[Redact]

29741502

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Copy of Business Purpose Certificate is not available in file.

Reviewer Comment (2024-01-08): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-01-08): Business Purpose Certificate attached.

01/08/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220614399

[Redact]

[Redact]

29479469

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements.

Date valuation provided to applicant is prior to the date when valuation was performed

11/20/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220614400

[Redact]

[Redact]

29400863

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-10): Initial and Final Grade B, accepted

11/10/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220614401

[Redact]

[Redact]

29404447

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Missing verification of statement to verify PITI for [Redact]

Reviewer Comment (2023-11-13): CD from purchase of property provided to verify the PITIA Seller Comment (2023-11-13): Note, Cd and 1st payment for [Redact] Buyer Comment (2023-11-13): Final CD uploaded for [Redact]

11/13/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

220614401

[Redact]

[Redact]

29405668

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender allowed for the use of rental income for the REO property which was a simultaneous purchase with this property as a first time home buyer.  Lender exception approval in file

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The representative FICO score exceeds the guideline minimum by at least 40 points. The representative FICO score is above 680.

32.28 months reserves Time at current job 5-10 years

SitusAMC,Aggregator Originator Pre-Close,SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-13): Client elected to waive the condition with the following Comp Factors: 32.28 months reserves, 0X30 on all tradelines since 2013

11/13/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

220614402

[Redact]

[Redact]

29405496

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception in file for allowing the use of rental income for the subject property while the borrower is a first time home buyer. Per guidelines, subject rents on investment property transaction is not allowed

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The representative FICO score exceeds the guideline minimum by at least 40 points. The representative FICO score is above 680.

67.41 months reserves Time at current job 5-10 years

SitusAMC,Aggregator Originator Pre-Close,SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-13): Client elected to waive the condition with the following Comp Factors: 67.41 months reserves, 0X30 on all tradelines since 2013

11/13/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

A

A

Exempt from ATR

Exempt from ATR

No

220614402

[Redact]

[Redact]

29423545

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Upon further review, the file is missing documentation to verify the PITIA for the REO that closed simultaneous with the subject.

Reviewer Comment (2023-11-13): Received Final CD, PITIA verified. Exception Cleared. Buyer Comment (2023-11-13): Final CD for [Redact] Seller Comment (2023-11-13): CD, Note and 1st Pay for [Redact]

11/13/2023

1

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

A

A

Exempt from ATR

Exempt from ATR

No

220614405

[Redact]

[Redact]

29437948

Credit

Title

Document Error

Title

The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

11/15/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614405

[Redact]

[Redact]

29437971

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%. Borrower has owned the subject property for at least 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years.

LTV 56.148%

SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-20): Client elected to waive the condition with the following Comp Factors: LTV 56.148%, 0X30 on all mortgages since [Redact] Seller Comment (2023-11-20): Exception from UW Manager

11/20/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614405

[Redact]

[Redact]

29437982

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-16): Initial and Final Grade B, accepted

11/16/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

Yes

220614407

[Redact]

[Redact]

29447980

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

The file is missing documentation confirming the condo project is warrantable.

Reviewer Comment (2023-11-22): Lender's project approval provided Seller Comment (2023-11-20): Condo Warranty

11/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220614407

[Redact]

[Redact]

29447986

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-16): Initial and Final Grade B, accepted

11/16/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

Yes

220614412

[Redact]

[Redact]

29410529

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

The appraisal is not in the name of the lender.  Transfer letter in file; however HPML regulations do not allow the transfer letter.

Buyer Comment (2023-11-10): Initial and Final Grade B, accepted

11/10/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614412

[Redact]

[Redact]

29410548

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Calculated loan to value percentage of 90.00000% exceeds Guideline loan to value percentage of 80.00000%. Lender exception was provided in loan file.

Borrower has verified disposable income of at least [Redact]. Borrower has been employed in the same industry for more than 5 years. Borrower has worked in the same position for more than 3 years. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Residual income of [Redact] monthly

SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-10): Client elected to waive the conditions with the following Comp Factor: Residual income of [Redact] monthly, 11 months reserves exceeds min required of 6 months

11/10/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614412

[Redact]

[Redact]

29410549

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Calculated loan to value percentage of 90.00000% exceeds Guideline loan to value percentage of 80.00000%. Lender exception was provided in loan file.

Borrower has verified disposable income of at least [Redact]. Borrower has been employed in the same industry for more than 5 years. Borrower has worked in the same position for more than 3 years. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Residual income of [Redact] monthly

SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-10): Client elected to waive the conditions with the following Comp Factor: Residual income of [Redact] monthly, 11 months reserves exceeds min required of 6 months

11/10/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614413

[Redact]

[Redact]

29414550

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

File is missing a copy of Lease Agreement for REO property

Reviewer Comment (2023-11-22): Short term rental income was used to qualify.  Docs in file supported the rental income used to qualify

11/22/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM status

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220614413

[Redact]

[Redact]

29414551

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - REO 25% Method

Ability to Repay (Dodd-Frank 2014): Unable to verify Real Estate Owned income (25% Method) using reasonably reliable third-party records.

File is missing a copy of Lease Agreement for REO property

Reviewer Comment (2023-11-22): Short term rental income was used to qualify.  Docs in file supported the rental income used to qualify Reviewer Comment (2023-11-15): Required Lease Agreement to clear this condition. Exception Remains. Seller Comment (2023-11-15): [Redact] and [Redact] docs

11/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220614413

[Redact]

[Redact]

29414553

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

General Ability-to-Repay requirements not satisfied.

Reviewer Comment (2023-11-22): Short term rental income was used to qualify.  Docs in file supported the rental income used to qualify

11/22/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220614413

[Redact]

[Redact]

29414554

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date

Truth in Lending Act:  Subject loan transaction disbursed on [Redact], prior to three (3) business days from transaction date of [Redact] 12:00:00 AM.

Truth in Lending Act: Subject loan transaction disbursed on [Redact], prior to three (3) business days from transaction date of [Redact]

Reviewer Comment (2023-12-07): Attestation from lender provided verifying signature date was a clerical error Seller Comment (2023-12-07): Attestation Reviewer Comment (2023-12-05): PCCD issued [Redact] still identifies the disbursement date as [Redact].  Condition remains Seller Comment (2023-12-05): PC CD Reviewer Comment (2023-11-17): Post-close CD provided issued [Redact] did not change the disbursement date.  Note: the settlement statement provided identified the disbursement date as [Redact] and the closing date as [Redact].  The PCCD identified the disbursement date as [Redact] and the closing date as [Redact].  Condition remains Seller Comment (2023-11-15): Final settlement statement and PC CD

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220614413

[Redact]

[Redact]

29414555

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Notice of Right to Cancel Expiration Date Prior or equal to Disbursement Date

Truth in Lending Act:  Actual Date(s) on Notice of Right to Cancel occurs prior to expected date(s).

Truth in Lending Act: Actual Date(s) on Notice of Right to Cancel occurs prior to expected date

Reviewer Comment (2023-12-07): Attestation from lender provided verifying signature date was a clerical error Seller Comment (2023-12-07): Attestation Reviewer Comment (2023-11-17): Post-close CD provided issued [Redact] did not change the disbursement date.  Note: the settlement statement provided identified the disbursement date as [Redact] and the closing date as [Redact].  The PCCD identified the disbursement date as [Redact] and the closing date as [Redact].  Condition remains Seller Comment (2023-11-15): Final settlement statement and PC CD

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220614413

[Redact]

[Redact]

29414706

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

File is missing a copy of Lease Agreement for REO property [Redact]

Reviewer Comment (2023-12-05): Short term rental income verification provided Reviewer Comment (2023-11-15): Required Lease Agreement to clear this condition. Exception Remains. Seller Comment (2023-11-15): [Redact] and [Redact] docs

12/05/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220614413

[Redact]

[Redact]

29461088

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Total Of Payments

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redact] disclosed an inaccurate Total of Payments on page 5 that does not match the actual total of payments for the loan (fee amounts included in TOP calculation are based on Closing Disclosure dated [Redact]).  The disclosed Total of Payments in the amount of [Redact] is under disclosed by [Redact] compared to the calculated total of payments of [Redact] which exceeds the [Redact] threshold.

Post-close CD provided issued [Redact] increased the TOP by more than the [Redact] threshold.

Reviewer Comment (2023-12-07): Attestation from lender provided verifying signature date was a clerical error Reviewer Comment (2023-12-07): TOP is a material exception on a rescindable transaction and requires re-opening of rescission to complete cure.  Please provide NORTC and proof of delivery to complete cure. Seller Comment (2023-12-05): PCCD and refund

12/07/2023

1

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220614413

[Redact]

[Redact]

29461089

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure - 130(b) Cure

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower. Missing required remediation documentation to complete cure.

Reviewer Comment (2023-12-06): [Redact] Received PCCD, LOE, Refund Check and Proof of Mailing Seller Comment (2023-12-05): PC CD and refund

12/06/2023

2

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220614417

[Redact]

[Redact]

29420784

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

The preliminary appraisal (earliest effective date) was not in the name of the lender.  The file contained a transfer letter; however transferred appraisals do not meet HPML requirements.

Buyer Comment (2023-11-13): Initial and Final Grade B, accepted

11/13/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220614417

[Redact]

[Redact]

29420786

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-13): Initial and Final Grade B, accepted

11/13/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220614417

[Redact]

[Redact]

29421275

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements.

Date valuation provided to applicant is prior to the date when valuation was performed

11/13/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220614419

[Redact]

[Redact]

29419886

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Final CD is missing.

Buyer Comment (2023-11-13): Initial and Final Grade B, accepted

11/13/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614419

[Redact]

[Redact]

29419888

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Final CD is missing.

Reviewer Comment (2023-11-17): [Redact] received final CD. Seller Comment (2023-11-15): Final CD

11/17/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614419

[Redact]

[Redact]

29419890

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment Over Disclosed

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redact] disclosed an escrow payment for payment stream 1 that does not match the actual payment for the loan.

Final CD is missing.

Reviewer Comment (2023-11-17): [Redact] received final CD.

11/17/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220614419

[Redact]

[Redact]

29419891

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Have Escrow -  Monthly Escrow Payment Underdisclosed

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redact] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

Final CD is missing.

Reviewer Comment (2023-11-17): [Redact] received final CD. Seller Comment (2023-11-15): Final CD

11/17/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614419

[Redact]

[Redact]

29419892

Compliance

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure Contains Fees not reflected on Consumer's Final Closing Disclosure

TILA-RESPA Integrated Disclosure: the Seller's final CD contained fees not reflected on the consumer's CD.

Seller paid fees on the seller's closing disclosure are not consistent with those on the borrower's final closing disclosure.

Reviewer Comment (2023-11-17): [Redact] received final CD.

11/17/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614424

[Redact]

[Redact]

29449697

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Bank Statements

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current employment status using reasonably reliable third-party records.

Missing third party verification of borrower's self employment. Per guidelines, 12 months Personal Bank statement requires proof of 2 years self-employment.

Reviewer Comment (2023-11-22): Initial operating agreement provided Seller Comment (2023-11-21): operating agreement - started 2014

11/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220614424

[Redact]

[Redact]

29449700

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR failure due to insufficient income documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-11-22): Initial operating agreement provided

11/22/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220614424

[Redact]

[Redact]

29451723

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-16): Initial and Final Grade B, accepted

11/16/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614424

[Redact]

[Redact]

29451725

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

ATR failure due to insufficient income documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-11-22): Initial operating agreement provided

11/22/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614425

[Redact]

[Redact]

29458564

Credit

Title

Document Error

Title

The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

11/17/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614425

[Redact]

[Redact]

29458611

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

The file is missing documentation confirming the condo project is warrantable.

Reviewer Comment (2023-11-22): Lender provided documentation verifying condo is warrantable Seller Comment (2023-11-21): Condo Warranty

11/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614425

[Redact]

[Redact]

29459040

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]

Buyer Comment (2023-11-21): Initial and Final Grade B, accepted

11/21/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

Yes

220614425

[Redact]

[Redact]

29462299

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Payment Shock exceeds credit guidelines.

Payment Shock: ___

Per guidelines, maximum payment shock is 300% for loans with DTI over 40%.  Subject DTI exceeds 40% maximum and payment shock 368% exceeds 300% maximum. Lender exception in loan file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has verified disposable income of at least [Redact]. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The representative FICO score exceeds the guideline minimum by at least 40 points. The representative FICO score is above 680.

47.21 months exceeds min required of 3 months

SitusAMC,Originator Pre-Close,Aggregator SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-21): Client elected to waive the condition with the following Comp Factors: 47.21 months exceeds min required of 3 months, 0X30 all tradelines since 2007

11/21/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614428

[Redact]

[Redact]

29475122

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Lender on Appraisal differ from Note.  Transfer letter in file.

Buyer Comment (2023-11-21): Initial and Final Grade B, accepted

11/21/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220614429

[Redact]

[Redact]

29475746

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy effective date is after the funds disbursed.

Reviewer Comment (2023-11-28): Post-close CD and closing statement provided verifying updated disbursement date Seller Comment (2023-11-24): final ALTA and PC CD with corrected disbursement date

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

220614430

[Redact]

[Redact]

29475539

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]

Buyer Comment (2023-11-21): Initial and Final Grade B, accepted

11/21/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

Yes

220614430

[Redact]

[Redact]

29487324

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

The max LTV/CLTV is 80.00%.  Lender exception approval in file.

Borrower has verified disposable income of at least [Redact]. Borrower has been employed in the same industry for more than 5 years. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

Residual income of [Redact] monthly

SitusAMC,Originator Pre-Close,Aggregator SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-21): Client elected to waive the condition with the following Comp Factors:  Residual income of [Redact] monthly

11/21/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614430

[Redact]

[Redact]

29487325

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

The max LTV/CLTV is 80.00%.  Lender exception approval in file.

Borrower has verified disposable income of at least [Redact]. Borrower has been employed in the same industry for more than 5 years. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

Residual income of [Redact] monthly

SitusAMC,Originator Pre-Close,Aggregator SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-21): Client elected to waive the condition with the following Comp Factors:  Residual income of [Redact] monthly

11/21/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220614437

[Redact]

[Redact]

29445772

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

The spread between the APOR and APR exceeds the maximum allowable tolerance.

Buyer Comment (2023-11-17): Initial and Final Grade B, accepted

11/17/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614437

[Redact]

[Redact]

29445773

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Loan designation failure due to ATR failure.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-11-22): Guidelines do not require verification of 2 years self-employment.  Business Narrative completed by a third party is acceptable.

11/22/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614437

[Redact]

[Redact]

29445774

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Bank Statements

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current employment status using reasonably reliable third-party records.

The file is missing documentation to verify the proof of the percentage of ownership of the business, as required by the guidelines.

Reviewer Comment (2023-11-22): Guidelines do not require verification of 2 years self-employment.  Business Narrative completed by a third party is acceptable. Seller Comment (2023-11-21): LOE - Sole Proprietor

11/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220614437

[Redact]

[Redact]

29445776

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR failure due to insufficient income documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-11-22): Guidelines do not require verification of 2 years self-employment.  Business Narrative completed by a third party is acceptable.

11/22/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220614437

[Redact]

[Redact]

29445777

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Reviewer Comment (2023-12-07): Revised IEAD provided Seller Comment (2023-12-05): Closing Manage LOE and Updated Docs

12/07/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614437

[Redact]

[Redact]

29445778

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment Under Disclosed

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redact] disclosed an escrow payment for payment stream 1 that does not match the actual payment for the loan.

Reviewer Comment (2023-12-07): [Redact] received Corrected CD and LOE to borrower and updated IEAD. Seller Comment (2023-12-05): Closing Manage LOE and Updated Docs

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614437

[Redact]

[Redact]

29445779

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Have Escrow -  Monthly Escrow Payment Overdisclosed

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redact] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

Verified updated as per final CD

Reviewer Comment (2023-11-16): Sufficient Cure Provided At Closing

11/16/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614437

[Redact]

[Redact]

29445781

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Second Appraisal Fee was not disclosed on Loan Estimate but was disclosed as [Redact] on the final CD. File does not a valid COC for this fee cure provided at closing.

Reviewer Comment (2023-11-16): Sufficient Cure Provided At Closing

11/16/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Final CD evidences Cure

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220614440

[Redact]

[Redact]

29613237

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy Effective Date is after closing.

The homeowner's insurance declarations page in the file verified an effective date of [Redact] which is after the consummation date of [Redact].  Provide a revised homeowner's insurance declaration page or policy verifying coverage in effect at or prior to consummation.

Reviewer Comment (2023-12-07): Received hazard policy prior to closing. Exception Cleared. Seller Comment (2023-12-07): HOI effective prior to closing

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

220614440

[Redact]

[Redact]

29613262

Credit

System

General

System

Borrower 1003 current address does not match Note address.

-

Subject is a Rate/Term refinance of a primary residence and the 1003 identified the current address as a different property than the subject.

Reviewer Comment (2023-12-07): Borrower is living rent free as per lox in file. Exception Cleared. Seller Comment (2023-12-07): UW LOE and 1004D showing borrower occupies

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

220614443

[Redact]

[Redact]

29426589

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-16): Initial and Final Grade B, accepted

11/16/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220614444

[Redact]

[Redact]

29427108

Credit

Guideline

Guideline Issue

Guideline

The borrower has Open Public Records/Collections/Charge Off accounts.

- Public Record type:  ___; Account Status: ___

The borrower has Open Public Records/Collections/Charge Off accounts. Per guideline Individual collection and non-mortgage charge-offs equal to or greater than [Redact] AND accounts that total more than [Redact] must be paid in full at closing.

Reviewer Comment (2023-11-17): Lender provided a response stating they confirmed sufficient reserves greater than than the collection amount to not require proof of payment, an option in the guidelines. Seller Comment (2023-11-16): UW LOE

11/17/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614444

[Redact]

[Redact]

29427221

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Proof of Appraisal delivery is required. Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2023-11-17): Lender provided documentation to verify receipt of the appraisal

11/17/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614444

[Redact]

[Redact]

29427222

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

The APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact]. Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2023-11-17): Lender provided documentation to verify receipt of the appraisal

11/17/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614444

[Redact]

[Redact]

29427223

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Proof of Appraisal delivery is required. Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2023-11-17): Lender provided documentation to verify receipt of the appraisal Seller Comment (2023-11-16): Appraisal Acknowledgment

11/17/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614444

[Redact]

[Redact]

29427224

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

The Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact])

Buyer Comment (2023-11-16): Initial and Final Grade B, accepted

11/16/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220614444

[Redact]

[Redact]

29442577

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Borrower is a FTHB with Credit Score below 660. Expanded Guidelines reflect max LTV is 75%. Lender exception provided in loan file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

54.58 months reserves is greater than min required of 3 months. Residual income of [Redact] monthly.

SitusAMC,Originator Pre-Close,Aggregator Aggregator,SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-17): Client elected to waive the condition with the following Comp Factors: 54.58 months reserves is greater than min required of 3 months. Residual income of [Redact] monthly.

11/17/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614444

[Redact]

[Redact]

29442578

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Borrower is a FTHB with Credit Score below 660. Expanded Guidelines reflect max LTV is 75%. Lender exception provided in loan file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

54.58 months reserves is greater than min required of 3 months. Residual income of [Redact] monthly.

SitusAMC,Originator Pre-Close,Aggregator Aggregator,SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-17): Client elected to waive the condition with the following Comp Factors: 54.58 months reserves is greater than min required of 3 months. Residual income of [Redact] monthly.

11/17/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614444

[Redact]

[Redact]

29456901

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Waiver Less than 3 Days From Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Borrower provided appraisal waiver less than three (3) business days prior to consummation.

Reviewer Comment (2023-11-17): Client elected to waive the condition

11/17/2023

2

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614444

[Redact]

[Redact]

29456979

Credit

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

Representative FICO score of ___ is less than Guideline representative FICO score of ___.

FICO is less than the guideline requirement of 660 for First Time Homebuyers.  Lender exception approval in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

54.58 months reserves is greater than min required of 3 months. Residual income of [Redact] monthly.

SitusAMC,Originator Pre-Close,Aggregator Aggregator,SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-17): Client elected to waive the condition with the following Comp Factors: 54.58 months reserves is greater than min required of 3 months. Residual income of [Redact] monthly.

11/17/2023

2

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220614445

[Redact]

[Redact]

29426906

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]

Buyer Comment (2023-11-16): Initial and Final Grade B, accepted

11/16/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220614446

[Redact]

[Redact]

29504911

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The income calculation worksheet in file identified three different bank accounts were used to calculate the income.  Unable to determine the reason for the use of three different accounts and additional documentation/clarification is required.

Reviewer Comment (2023-11-28): LOE and documentation provided to clarify the income calculations Seller Comment (2023-11-24): UW LOE

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

220614449

[Redact]

[Redact]

29545000

Compliance

Loan Package Documentation

Application / Processing

Missing, Incorrect, or Incomplete Final or Initial 1003

Missing Document: Missing Lender's Initial 1003

The file was missing a copy of the initial 1003.

Reviewer Comment (2023-11-30): Received initial 1003. Exception Cleared. Seller Comment (2023-11-29): initial 1003 and ITP

11/30/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Second Home

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220614449

[Redact]

[Redact]

29545580

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

The file was missing a copy of the List of Homeowner Counseling Organizations

Reviewer Comment (2023-12-01): Disclosure provided Seller Comment (2023-11-29): HCD and ITP

12/01/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Second Home

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220614449

[Redact]

[Redact]

29545581

Compliance

Compliance

Federal Compliance

TRID

TRID Settlement Service Provider Status

TILA-RESPA Integrated Disclosure: Borrower not provided with list of service providers.

The file was missing a copy of the Settlement Service Providers List

Reviewer Comment (2023-12-01): [Redact] received SSPL.

12/01/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Second Home

Purchase

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220614449

[Redact]

[Redact]

29545582

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Processing Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Appraisal Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure. File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2023-12-01): [Redact] received SSPL and the fee are within tolerance limit. Seller Comment (2023-11-30): SPL Reviewer Comment (2023-11-30): [Redact] received tolerance screen, however the file does not contain a Settlement Service Providers List.  The SSPL is necessary to determine the tolerance and whether the borrower shopped for services. Please provide SSPL document. Seller Comment (2023-11-29): Tolerance Screen

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Second Home

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

220614451

[Redact]

[Redact]

29550005

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status.

"Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application.  Note: the file was missing a copy of the initial LE which will satisfy this condition.

Reviewer Comment (2023-12-01): Initial LE provided Seller Comment (2023-11-29): initial Le and ITP

12/01/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

B

A

A

A

B

A

A

A

Exempt from ATR

Exempt from ATR

No

220614451

[Redact]

[Redact]

29550042

Compliance

Loan Package Documentation

Application / Processing

Missing, Incorrect, or Incomplete Final or Initial 1003

Missing Document: Missing Lender's Initial 1003

The file was missing a copy of the initial 1003.

Reviewer Comment (2023-11-30): Received initial 1003. Exception Cleared. Seller Comment (2023-11-29): initial 1003 and ITP

11/30/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

B

A

A

A

B

A

A

A

Exempt from ATR

Exempt from ATR

No

220614452

[Redact]

[Redact]

29545002

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Copy of Insurance Verification is not available in file.

Reviewer Comment (2023-12-18): Other expenses added in DTI as per provided 1003. Exception Cleared. Seller Comment (2023-12-15): Revised 1003 and 1008 Reviewer Comment (2023-12-08): As per 1003 total expenses [Redact],  taxes present in file [Redact]. Required supporting document for [Redact]. Exception Remains. Seller Comment (2023-12-06): Revised 1008 and 1003 Reviewer Comment (2023-11-30): As per final 1003, total expenses [Redact](P&I [Redact]+[Redact]). If there is no mortgage then please provided revised 1003,aus and 1008. Exception Remains. Seller Comment (2023-11-29): UW LOE and Supporting Docs

12/18/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

A

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220614452

[Redact]

[Redact]

29545097

Compliance

Compliance

Federal Compliance

GSE

FNMA Points and Fees

FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2023). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2023) (an overage of [Redact] or [Redact]).

FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2023). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2023) (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-29): Initial and Final Grade B, accepted

11/29/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

A

B

B

A

A

Exempt from ATR

Exempt from ATR

Yes

220614452

[Redact]

[Redact]

29545351

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact]. Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current  coverage amount

Reviewer Comment (2024-01-02): RCE provided Buyer Comment (2024-01-02): [Redact] confirmed with [Redact] that the loan includes 100% replacement coverage.  Spoke with [Redact] @ [Redact] at 4;30:pm on [Redact]. Please see attached estimated rebuilding cost is [Redact] Reviewer Comment (2023-12-14): Hazard policy present in file does not reflect any replacement cost percentage or amount. Exception Remains. Seller Comment (2023-12-14): [Redact] info stating replacement cost coverage is standard on all policies Reviewer Comment (2023-11-30): Required RCE or updated hazard policy to cover shortfall of [Redact]. Calculation used as per FNMA method. Exception Remains. Seller Comment (2023-11-29): HOI has coverage of [Redact] and our loan amount is [Redact].  Where is[Redact] amount coming from?  Please advise.

01/02/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

A

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220614453

[Redact]

[Redact]

29546359

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-29): Initial and Final Grade B, accepted

11/29/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220614454

[Redact]

[Redact]

29544807

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided.

-

The file is missing of the 442 images certificate

Reviewer Comment (2023-11-30): Received completion report and images. Exception Cleared. Seller Comment (2023-11-29): 442

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Rate/Term

C

A

A

A

A

A

C

A

Non QM

Non QM

No

220614454

[Redact]

[Redact]

29544847

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

10% tolerance was exceeded by [Redact] due to increase of recording fee. No valid COC provided, nor evidence of cure in file. Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.

Reviewer Comment (2023-11-28): Sufficient Cure Provided At Closing

11/28/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Rate/Term

Final CD evidences Cure

C

A

A

A

A

A

C

A

Non QM

Non QM

Yes

220614455

[Redact]

[Redact]

29400765

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

File is missing a copy of condo is warrantable.

Reviewer Comment (2023-11-13): Seller provided a copy of the project approval to verify the condo is warrantable Seller Comment (2023-11-13): Condo Warranty

11/13/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220614455

[Redact]

[Redact]

29408434

Credit

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

Representative FICO score of ___ is less than Guideline representative FICO score of ___.

Borrower is a novice investor. Minimum credit score required is 680. Lender exception in file for borrower credit score of 647.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

71.74 reserves exceeds min required of 4 months.

SitusAMC,Originator Pre-Close,Aggregator SitusAMC

Reviewer Comment (2023-11-13): Client elected to waive the condition based on the following Comp Factor: 71.74 reserves exceeds min required of 4 months.

11/13/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220614455

[Redact]

[Redact]

29571891

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: ___                  Disaster End Date: ___ Disaster Name: ___ Disaster Declaration Date: ___

Upon further review, the subject is located in a recent FEMA Disaster area.  A post-disaster inspection dated after the declaration end date of [Redact] is required, verifying there is no damage.

Reviewer Comment (2023-12-07): Received Disaster Property Inspection Report. Exception Cleared. Seller Comment (2023-12-07): Disaster Inspection

12/07/2023

1

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220614468

[Redact]

[Redact]

29420985

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Flood insurance coverage amount is insufficient.

Flood insurance coverage is insufficient by [Redact].  Minimum required amount is the lessor of 100% replacement cost, UPB, or NFIP max of [Redact].  Lender to provide updated policy with coverage no less than [Redact].

Reviewer Comment (2023-12-25): Received revised flood insurance policy. Exception Cleared. Seller Comment (2023-12-22): Flood Ins Reviewer Comment (2023-12-04): Required updated hazard policy with sufficient coverage or RCE to clear this condition. Exception Remains. Seller Comment (2023-12-04): Active Flood Ins.  Per agent [Redact] law does not allow RCE to be issued.

12/25/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220614469

[Redact]

[Redact]

29418573

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

The file is missing documentation confirming the condo project is warrantable.

Reviewer Comment (2023-11-28): Lender's project approval provided Seller Comment (2023-11-24): Condo Warranty

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220614470

[Redact]

[Redact]

29435776

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Seller Credit of 3.4% exceeds allowed tolerance of 3%. Lender Exception in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

35.75 months reserves

SitusAMC,Originator Pre-Close,Aggregator SitusAMC

Reviewer Comment (2023-11-16): Client elected to waive the condition with the following Comp Factors: 35.75 months reserves, 0X30 on mortgage since [Redact]

11/16/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220614474

[Redact]

[Redact]

29436399

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient. Must have dwelling coverage of no less than the loan amount or full replacement cost amount.

Reviewer Comment (2023-11-20): RCE provided Seller Comment (2023-11-16): RCE

11/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220614483

[Redact]

[Redact]

29471172

Credit

Insurance

Insurance Documentation

Insurance

Hazard Insurance Error: Missing HO-6 policy, blanket hazard insurance policy provided does not contain unit interior coverage.

The file was missing a copy of Unit Owners/HO6 Policy. Master Policy in file does not provide Walls in Coverage.

Reviewer Comment (2023-11-21): Received HO6 Policy. Exception Cleared. Seller Comment (2023-11-21): HOI

11/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220614483

[Redact]

[Redact]

29471211

Credit

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

Representative FICO score of ___ is less than Guideline representative FICO score of ___.

Representative FICO score of 666 is less than Guideline representative FICO score of 680 for novice investors. Lender Exception in file.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%. Borrower has owned the subject property for at least 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

LTV 42.054% reserves of 92.72 months exceeds min required of 4 months

SitusAMC,Aggregator SitusAMC Originator Pre-Close,Aggregator,SitusAMC

Reviewer Comment (2023-11-21): Client elected to waive the condition with the following Comp Factor: LTV 42.054% and reserves of 92.72 months exceeds min required of 4 months

11/21/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220614484

[Redact]

[Redact]

29427391

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

File does not contain documentation from lender/seller confirming the condo is warrantable.

Reviewer Comment (2023-11-20): Lenders project approval provided Seller Comment (2023-11-16): Condo Warranty

11/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220614486

[Redact]

[Redact]

29448068

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

The file was missing copy of the secondary valuation required for securitization purposes.

Reviewer Comment (2023-11-21): Received updated CU score. Hence Exception Cleared. Seller Comment (2023-11-20): UCDP - CU Score 1

11/21/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

A

A

D

A

N/A

No

220614487

[Redact]

[Redact]

29472059

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact]. Provide updated policy reflecting minimum coverage OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2024-01-02): RCE provided Buyer Comment (2024-01-02): [Redact] confirmed with [Redact] that the loan includes 100% replacement coverage.  Spoke with [Redact]  @ [Redact] at 5:57:pm on [Redact]. Please see attached estimated rebuilding cost is [Redact] Reviewer Comment (2023-12-14): Extended replacement cost coverage 25% updated still have shortfall of [Redact]. FNMA method used for calculation. Required additional coverage or RCE to cover shortfall. Exception Remains. Seller Comment (2023-12-14): [Redact] webiste info detailing replacement cost coverage is standard on all policies. Reviewer Comment (2023-11-28): Required RCE or updated policy to cover shortfall of [Redact]. Exception Remains. Seller Comment (2023-11-27): LOE - covergae is higher than loan amount

01/02/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220614491

[Redact]

[Redact]

29518619

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Reviewer Comment (2023-11-26): Received Insurance Policy. Exception Cleared. Seller Comment (2023-11-24): HOI

11/26/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220614496

[Redact]

[Redact]

29546720

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

1003 Error: Citizenship Source Documentation  was not provided

-

File is missing a copy of Permanent Resident Alien card. 1003 identified the borrower was a Permanent Resident.  Note: file contained a US Passport.

Buyer Comment (2023-12-01): Passport supports citizenship. Initial and Final Grade B

12/01/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220614496

[Redact]

[Redact]

29546728

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact].  Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2023-12-01): Received RCE with sufficient coverage. Exception Cleared. Seller Comment (2023-11-30): RCE

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220614496

[Redact]

[Redact]

29553947

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Title Error: Title vesting does not concur with deed

Title identified the property was vested in [Redact].  The file is missing a copy of the deed transferring the property to the borrower and proof of the borrower's ownership of the company.

Reviewer Comment (2023-12-01): A copy of the grant deed and proof of ownership in the company was provided Seller Comment (2023-11-30): title Docs

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220614496

[Redact]

[Redact]

29553949

Credit

Missing Document

General

Missing Document

Missing Document: HUD/CD not provided

The file is missing a copy of the HUD or Settlement statement. Note: the Funding worksheet is not acceptable.

Reviewer Comment (2023-12-01): Final Settlement statement provided Seller Comment (2023-11-30): Final settlement stmt

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220614502

[Redact]

[Redact]

29522661

Credit

Guideline

Guideline Issue

Guideline

Short Term Rental property consistently used as a seasonal or vacation rental (i.e., [Redact]) and evidence of at least 12 months of Operating History is not present in the loan file.

Short Term Rental used consistently as a seasonal or vacation rental requires at least 12 months of Operating History. A VOR was completed instead. Lender exception provided in loan file.

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

Client elected to waive the condition with the following comp factors: LTV 44.533%

SitusAMC,Aggregator

Reviewer Comment (2023-11-27): Client elected to waive the condition with the following comp factors: LTV 44.533%

11/27/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

220644528

[Redact]

[Redact]

29400212

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Coverage amount is sufficient. Review has used the appraised value at 80% less coverage absent insurer or appraisal estimated cost to replace.

Reviewer Comment (2023-10-23): Email confirming 100% replacement cost provided. Exception Cleared Buyer Comment (2023-10-19): Email confirming 100% replacement cost.

10/23/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220644535

[Redact]

[Redact]

29400224

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

There is [Redact] Insurance Impound-Liability present on First Payment Letter and HUD however we did not received proof of document for the same.

Reviewer Comment (2023-10-20): Invoice provided. Buyer Comment (2023-10-19): Additional invoice

10/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220644535

[Redact]

[Redact]

29400226

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

Two months banks statements dated withing 90 days of the Note are required.

Reviewer Comment (2023-10-20): Final settlement statement provided. Buyer Comment (2023-10-19): Per lender: Settlement provided from closing of [Redact] for assets and reserves.

10/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220644535

[Redact]

[Redact]

29400227

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact].  Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2023-10-20): LOX verifying RC provided. Buyer Comment (2023-10-19): Per lender: Email from insurance company confirming replacement coverage in place.

10/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220644535

[Redact]

[Redact]

29400228

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Calculated loan to value percentage of 72.10000% exceeds Guideline loan to value percentage of 70.00000%.

Reviewer Comment (2023-10-20): Stacking is allowed. Cleared. Buyer Comment (2023-10-19): Per lender: The qualifying LTV is 70%, we allow fees to be stacked, 72.1% LTV is acceptable based on [Redact] guidelines.

10/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220644535

[Redact]

[Redact]

29400229

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Insufficient reserves. Missing executed CD/settlement statement for recent refinance of [Redact] documenting cash out from that refinance

Reviewer Comment (2023-10-20): Final settlement statement provided. Buyer Comment (2023-10-19): HUD [Redact] for assets & reserves

10/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220644535

[Redact]

[Redact]

29400230

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Insufficient funds, missing executed CD/settlement statement for recent refinance of [Redact] documenting cash out from that refinance

Reviewer Comment (2023-10-20): Final settlement statement provided. Buyer Comment (2023-10-19): Settlement provided from closing of [Redact] for assets and reserves.

10/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220644535

[Redact]

[Redact]

29400231

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Insufficient reserves. Missing executed CD/settlement statement for recent refinance of [Redact] documenting cash out from that refinance. Insufficient funds, missing executed CD/settlement statement for recent refinance of [Redact] documenting cash out from that refinance

Reviewer Comment (2023-10-20): Final settlement statement provided. Buyer Comment (2023-10-19): Settlement provided from closing of [Redact] for assets and reserves.

10/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220644549

[Redact]

[Redact]

29400263

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of 70.00000% exceeds Guideline loan to value percentage of 65.00000%. (Mid score 664, max cash out proceeds [Redact]).

Reviewer Comment (2023-10-26): Prior matrix used. Cleared. Reviewer Comment (2023-10-20): This guideline was not provided and approved by [Redact]. Buyer Comment (2023-10-19): Per lender: The July 15 guidelines govern this and 70% ltv c/o refi was allowed at 664 score

10/26/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220644549

[Redact]

[Redact]

29400264

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Total cash-out discrepancy.

HUD-1 total cash-out of ___ is greater than Guideline total cash-out of ___.

HUD-1 total cash-out of [Redact] is greater than Guideline total cash-out of [Redact]. (Mid score 664, max cash out proceeds [Redact]).

Borrower has owned the subject property for at least 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC SitusAMC

Reviewer Comment (2023-10-20): Lender exception provided. Compensating factors provided are: Experienced investor, Favorable DSCR @ 1.405, Overall good credit. Buyer Comment (2023-10-19): Please see lender's Exception for cash out attached.

10/20/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220644564

[Redact]

[Redact]

29400309

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception for the use of 1 Credit Score.  Non perm residence. Compensating Factors Stated Good reserves, Seasoned investor.

Borrower's Experience/Track Record The representative FICO score exceeds the guideline minimum by at least 40 points.

Borrower's Experience/Track Record. The borrower has: 10 years of Experience. Currently holds "50+ properties.

Originator SitusAMC

Reviewer Comment (2023-10-18): Approved to waive with compensating factors. Score 742, Borrower's Experience/Track Record. The borrower has: 10 years of Experience. Currently holds "50+ properties.

10/18/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

B

B

B

B

A

A

N/A

No

220644565

[Redact]

[Redact]

29400311

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception for  use of one credit score. Compensating Factors stated Seasoned Investor, Strong Reserve.

The representative FICO score exceeds the guideline minimum by at least 40 points. Borrower's Experience/Track Record

742 vs 680 Borrower's Experience/Track Record. The borrower has: 10 years of Experience. Currently holds "50+ properties.

SitusAMC,Originator Originator

Reviewer Comment (2023-10-18): Approved to waive with compensating factors. Score 742, Borrower's Experience/Track Record. The borrower has: 10 years of Experience. Currently holds "50+ properties.

10/18/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220651459

[Redact]

[Redact]

[Redact]

29406539

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-22): The collateral was delivered [Redact] at 10:09am via [Redact] trk#[Redact].

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220651459

[Redact]

[Redact]

[Redact]

29406540

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-22): The collateral was delivered [Redact] at 10:09am via [Redact] trk#[Redact].

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220651459

[Redact]

[Redact]

[Redact]

29816274

Credit

Credit

Credit Documentation

Missing Document

Missing Document: Credit Report not provided

Credit Report missing in file.

Reviewer Comment (2024-01-23): Received Credit Report. Exception Cleared. Seller Comment (2024-01-23): Please see attached credit report.

01/23/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220651459

[Redact]

[Redact]

[Redact]

29816315

Credit

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

Credit report missing

Reviewer Comment (2024-01-23): Received Credit Report. Exception Cleared. Seller Comment (2024-01-23): Please see attached credit report.

01/23/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220656918

[Redact]

[Redact]

[Redact]

29406701

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-01): (Rate Lock) allonge tracking: [Redact]

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220656918

[Redact]

[Redact]

[Redact]

29406702

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-01): (Rate Lock) collateral tracking: [Redact]

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220656918

[Redact]

[Redact]

[Redact]

29823491

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Title Preliminary not provided

Reviewer Comment (2024-01-25): Received coop agreement and ucc statement.  Exception cleared. Seller Comment (2024-01-25): (Rate Lock) cooperative, no preliminary title.

01/25/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220656918

[Redact]

[Redact]

[Redact]

29824389

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

The Creditor did not give each valuation to applicant three business days before consummation. Acknowledgement of appraisal report receipt by borrower is required.

01/22/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220656918

[Redact]

[Redact]

[Redact]

29824416

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure AP Table Maximum Payment

TILA-RESPA Integrated Disclosure - Adjustable Payment Table: Final Closing Disclosure provided on [Redact] disclosed a Maximum Payment amount and period that does not match the actual terms for the loan.

Final Closing Disclosure disclosed Interest only Payments on Page 4. However, Per Note loan does not have Interest Only Feature due to which the CD disclosed details does not match with actual Loan Terms.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29824418

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Payment Max Amount

TILA-RESPA Integrated Disclosure - Loan Terms: Final Closing Disclosure provided on [Redact] with an increasing payment disclosed the maximum possible amount of principal and interest that does not match the actual maximum amount for the loan.

Final Closing Disclosure disclosed Interest only Payments on Page 4. However, Per Note loan does not have Interest Only Feature due to which the CD disclosed details does not match with actual Loan Terms.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29824419

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Payment Max Amount In Year

TILA-RESPA Integrated Disclosure - Loan Terms: Final Closing Disclosure provided on [Redact] with an increasing payment disclosed the earliest date of the maximum possible amount of principal and interest that does not match the actual earliest date for the loan.

Final Closing Disclosure disclosed Interest only Payments on Page 4. However, Per Note loan does not have Interest Only Feature due to which the CD disclosed details does not match with actual Loan Terms.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29824420

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Principal and Interest

TILA-RESPA Integrated Disclosure - Loan Terms: Final Closing Disclosure provided on [Redact] disclosed a Principal and Interest Payment that does not match the actual payment for the loan.

Final Closing Disclosure disclosed Interest only Payments on Page 4. However, Per Note loan does not have Interest Only Feature due to which the CD disclosed details does not match with actual Loan Terms.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29824422

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected P&I Min Payment Adjustable Rate Subsequent Payments

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redact] disclosed a periodic principal and interest payment for payment stream 3 that does not match the actual payment for the loan.

Final Closing Disclosure disclosed Interest only Payments on Page 4. However, Per Note loan does not have Interest Only Feature due to which the CD disclosed details does not match with actual Loan Terms.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29824423

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected P&I Min Payment Adjustable Rate Subsequent Payments

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redact] disclosed a periodic principal and interest payment for payment stream 4 that does not match the actual payment for the loan.

Final Closing Disclosure disclosed Interest only Payments on Page 4. However, Per Note loan does not have Interest Only Feature due to which the CD disclosed details does not match with actual Loan Terms.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29824428

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Property Taxes Included In Escrow

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redact] incorrectly disclosed whether property taxes are included in escrow.

The projected payments on Final Closing Disclosure provided on [Redact] incorrectly disclosed whether property taxes are included in escrow.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29824429

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Abstract / Title Search.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Abstract / Title Search. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-02-04): [Redact] received corrected PCCD, LOE, proof of mailing & copy of refund check. Seller Comment (2024-02-01): (Rate Lock) PCCD with refund check to clear. Reviewer Comment (2024-01-25): [Redact] received final CD. The COC available in the file dated [Redact] does not have any information on why the Tract Search fee was added. In order to determine if the changed circumstance is valid more information is necessary on reason fee added and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check. Seller Comment (2024-01-25): (Rate Lock) since exception is in file, is this one getting cleared as is?

02/04/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29832897

Credit

Asset

Asset Calculation / Analysis

Asset

Guideline Requirement: Available for Reserves discrepancy.

Per the guidelines 12 months reserves required,and additional 6 months reserves is required for each REO owned (The calculation is based on the PITIA of each property.)

Reviewer Comment (2024-01-26): Received bank statement. Reserve requirement met. Exception Cleared. Seller Comment (2024-01-25): (Rate Lock) [Redact] statements

01/26/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220656918

[Redact]

[Redact]

[Redact]

29834941

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure AP Table First Change

TILA-RESPA Integrated Disclosure - Adjustable Payment Table: Final Closing Disclosure provided on [Redact] disclosed a First Change minimum, maximum, and payment period that does not match the actual terms for the loan.

Per the note 120 months interest only, however page# 1 of the final CD shows that the loan is interest only for the full note.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29834942

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure AP Table Interest Only Payment Period

TILA-RESPA Integrated Disclosure - Adjustable Payment Table: Final Closing Disclosure provided on [Redact] disclosed an inaccurate Interest Only Payments Period.

Per the note 120 months interest only, however page# 1 of the final CD shows that the loan is interest only for the full note.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29834943

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure AP Table Subsequent Changes

TILA-RESPA Integrated Disclosure - Adjustable Payment Table: Final Closing Disclosure provided on [Redact] disclosed a Subsequent Changes period that does not match the actual terms for the loan.

Per the note 120 months interest only, however page# 1 of the final CD shows that the loan is interest only for the full note.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29834944

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected P&I Min Payment Adjustable Rate Subsequent Payments

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redact] disclosed a periodic principal and interest payment for payment stream 2 that does not match the actual payment for the loan.

Per the note 120 months interest only, however page# 1 of the final CD shows that the loan is interest only for the full note.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220656918

[Redact]

[Redact]

[Redact]

29834945

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected Principal And Interest Payment Min Payment Adjustable Rate

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redact] disclosed a periodic principal and interest payment for payment stream 1 that does not match the actual payment for the loan.

Per the note 120 months interest only, however page# 1 of the final CD shows that the loan is interest only for the full note.

Reviewer Comment (2024-01-29): [Redact] received [Redact] Final CD Seller Comment (2024-01-25): (Rate Lock) This updated final CD should clear up all items regarding the TILA conditions.

01/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220657472

[Redact]

[Redact]

[Redact]

29407668

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-03): The collateral was delivered [Redact] at 8:15am via [Redact] trk#[Redact].

01/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220657472

[Redact]

[Redact]

[Redact]

29407669

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-03): The collateral was delivered [Redact] at 8:15am via [Redact] trk#[Redact].

01/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220657472

[Redact]

[Redact]

[Redact]

29724532

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Reviewer Comment (2024-01-05): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-01-04): Please see attached business purpose certificate.

01/05/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220657647

[Redact]

[Redact]

[Redact]

29408156

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-21): Please see tracking [Redact]. Note was delivered on [Redact].

12/27/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

B

B

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220657647

[Redact]

[Redact]

[Redact]

29408157

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-21): Please see tracking [Redact]. Note was delivered on [Redact].

12/27/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

B

B

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220657647

[Redact]

[Redact]

[Redact]

29669000

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

12/15/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

B

B

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220657647

[Redact]

[Redact]

[Redact]

29669080

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Minimum Loan Amount discrepancy.

Note loan amount of ___ is less than Guideline minimum loan amount of ___.

Exception approval in file

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has verified disposable income of at least [Redact]. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The Loan to Value (LTV) on the loan is less than or equal to 70%. The qualifying DTI on the loan is at least 10% less than the guideline maximum. The qualifying DTI on the loan is less than or equal to 35%. The representative FICO score exceeds the guideline minimum by at least 40 points. The representative FICO score is above 680.

**Post-close reserves [Redact] (outside of assets being used for income stream) where [Redact] are required (18x; subject [Redact] x 12 = [Redact] and primary [Redact] x 6 = [Redact]) **DTI 27.95 is 12 below program maximum (40)

SitusAMC,Originator Pre-Close,Aggregator SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-12-18): Client elected to waive the condition with the following Compensating Factors: **Post-close reserves [Redact] (outside of assets being used for income stream) where [Redact] are required (18x; subject [Redact] x 12 = [Redact] and primary [Redact] x 6 = [Redact]) **DTI 27.95 is 12 below program maximum (40) **Credit score 785 is 85 points above program minimum of 700 (asset depreciation) **Borrower has 10+ years mortgage history paid as agreed.

12/18/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

B

B

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220674804

[Redact]

[Redact]

[Redact]

29416453

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-21): Per tracking# [Redact], Note was delivered on [Redact].

12/27/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

220674804

[Redact]

[Redact]

[Redact]

29416454

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-21): Per tracking# [Redact], Note was delivered on [Redact].

12/27/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

220674804

[Redact]

[Redact]

[Redact]

29663458

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

File is missing a copy of Mortgage statement for REO property [Redact] to verify PITI was escrowed. If PITI of property was not escrowed provide Tax, Insurance documents and HOA statement if applicable.

Reviewer Comment (2023-12-21): Documentation provided to verify the PITIA Seller Comment (2023-12-21): Please see REO docs.

12/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

220674804

[Redact]

[Redact]

[Redact]

29663532

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

12/14/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

220687493

[Redact]

[Redact]

[Redact]

29438557

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-11): Collateral delivered [Redact] via [Redact] tracking number [Redact].

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220687493

[Redact]

[Redact]

[Redact]

29438558

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-11): Collateral delivered [Redact] via [Redact] tracking number [Redact].

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220687493

[Redact]

[Redact]

[Redact]

29772853

Credit

Collateral

Missing/Incorrect

Collateral

Collateral report shows issues with Note.

Missing RCVD FACSIMILE; [Redact] TO BLANK

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-08): Please provide clarification as to why the Allonge received is not acceptable.  We haven't been sending original endorsed allonges on these types of loans.

01/23/2024

1

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220692020

[Redact]

[Redact]

[Redact]

29447596

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-11): The collateral was delivered [Redact] at 8:53am via [Redact] trk#[Redact].

12/12/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220692020

[Redact]

[Redact]

[Redact]

29447597

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-11): The collateral was delivered [Redact] at 8:53am via [Redact] trk#[Redact].

12/12/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220701114

[Redact]

[Redact]

[Redact]

29451806

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-29): Collateral delivered on [Redact] via [Redact] tracking #[Redact].

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220701114

[Redact]

[Redact]

[Redact]

29451807

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-29): Collateral delivered on [Redact] via [Redact] tracking #[Redact].

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220701114

[Redact]

[Redact]

[Redact]

29849622

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

File is missing a copy of Business Purpose Certificate.

Reviewer Comment (2024-01-28): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-01-26): Please see attached business purpose cert.

01/28/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220701114

[Redact]

[Redact]

[Redact]

29849625

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

File is missing a copy of Guarantor Agreement.

Reviewer Comment (2024-01-28): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-26): Guarantor Agreement attached.

01/28/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220701114

[Redact]

[Redact]

[Redact]

29849661

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

File is missing a copy of document confirming Condo property is warrantable.

Reviewer Comment (2024-01-31): The loan was qualified as a non-warrantable condo. Seller Comment (2024-01-30): Please see attached approval.

01/31/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220701140

[Redact]

[Redact]

[Redact]

29451898

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-03): The collateral was delivered [Redact] at 8:15am via [Redact] trk#[Redact].

01/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220701140

[Redact]

[Redact]

[Redact]

29451899

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-03): The collateral was delivered [Redact] at 8:15am via [Redact] trk#[Redact].

01/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220701140

[Redact]

[Redact]

[Redact]

29708389

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___.

Cash out being used for purchase of another investment. Minimum DSCR is 1.15. Calculated DSCR is 1.01. Lender exception provided in loan file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The representative FICO score exceeds the guideline minimum by at least 40 points. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

**Credit score of 792 is 72 points above program minimum of 720 **LTV of 53 is 22 below program maximum (75)

SitusAMC Originator Pre-Close,Aggregator,SitusAMC Originator Pre-Close,Aggregator,SitusAMC

Reviewer Comment (2024-01-02): Client elected to waive the condition with the following Compensating Factors: **LTV of 53 is 22 below program maximum (75) **Credit score of 792 is 72 points above program minimum of 720 **Credit history since [Redact] (30+ years) including mortgages 10+ years paid as agreed.

01/02/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220702389

[Redact]

[Redact]

[Redact]

29463582

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-14): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-11): The collateral was delivered [Redact] at 8:53am via [Redact] trk#[Redact].

12/14/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220702389

[Redact]

[Redact]

[Redact]

29463583

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-14): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-11): The collateral was delivered [Redact] at 8:53am via [Redact] trk#[Redact].

12/14/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220702666

[Redact]

[Redact]

[Redact]

29464232

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-05): Waived on Rate Lock: Collateral cleared by Custodian

01/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220702666

[Redact]

[Redact]

[Redact]

29464233

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-05): Waived on Rate Lock: Collateral cleared by Custodian

01/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220702666

[Redact]

[Redact]

[Redact]

29729881

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Appraisal Fee was  last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, Evidence of cure in file.   Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.

Reviewer Comment (2024-01-02): Sufficient Cure Provided At Closing

01/02/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Final CD evidences Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

220702666

[Redact]

[Redact]

[Redact]

29729882

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Credit Fee was  last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, Evidence of cure in file.   Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.

Reviewer Comment (2024-01-02): Sufficient Cure Provided At Closing

01/02/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Final CD evidences Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

220702666

[Redact]

[Redact]

[Redact]

29730018

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

File is missing copy of  Initial Closing Disclosure

Reviewer Comment (2024-01-18): [Redact] received initial CD. Seller Comment (2024-01-14): [Redact]CD Seller Comment (2024-01-14): Please see attached Reviewer Comment (2024-01-11): [Redact] received disclosure tracking for the [Redact] CD. Please provide the [Redact] CD as it is not located in file. Seller Comment (2024-01-11): disclosure history Seller Comment (2024-01-11): The borrower consented to the initial CD on [Redact], please see attached.

01/18/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220703514

[Redact]

[Redact]

[Redact]

29475372

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-17): Waived on Rate Lock: Collateral cleared by Custodian

01/17/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220703514

[Redact]

[Redact]

[Redact]

29475373

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-17): Waived on Rate Lock: Collateral cleared by Custodian

01/17/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220703514

[Redact]

[Redact]

[Redact]

29783539

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Loan closed in an LLC. Missing Guarantor Agreement.

Reviewer Comment (2024-01-17): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-17): Guarantor Agreement attached.

01/17/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220703514

[Redact]

[Redact]

[Redact]

29794928

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Subject is short term rental. Max LTV must be reduced by 5%.  Exception approval made by Client.

The representative FICO score exceeds the guideline minimum by at least 40 points. Borrower has owned the subject property for at least 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The qualifying DSCR on the loan is greater than the guideline minimum.

FICO of 771 which is 51 points above the minimum 720 The DSCR of 1.41 is greater than the minimum required DSCR of 1.15.

Originator Pre-Close,SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC,Originator Pre-Close,Aggregator

Reviewer Comment (2024-01-15): Client elected to waive the condition with the following Compensating Factors: * DSCR Ratio:1.41 when 1.15 is required * FICO of 771 which is 51 points above the minimum 720 * Credit Depth.0 revolving credit utilization with credit history dating back to 1990 all paid as agreed

01/15/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220703514

[Redact]

[Redact]

[Redact]

29794929

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Subject is short term rental. Max CLTV must be reduced by 5%.  Exception approval made by Client.

The representative FICO score exceeds the guideline minimum by at least 40 points. Borrower has owned the subject property for at least 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The qualifying DSCR on the loan is greater than the guideline minimum.

FICO of 771 which is 51 points above the minimum 720 The DSCR of 1.41 is greater than the minimum required DSCR of 1.15.

Originator Pre-Close,SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC,Originator Pre-Close,Aggregator

Reviewer Comment (2024-01-15): Client elected to waive the condition with the following Compensating Factors: * DSCR Ratio:1.41 when 1.15 is required * FICO of 771 which is 51 points above the minimum 720 * Credit Depth.0 revolving credit utilization with credit history dating back to 1990 all paid as agreed

01/15/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220714971

[Redact]

[Redact]

[Redact]

29539256

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

220714971

[Redact]

[Redact]

[Redact]

29539257

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

220714971

[Redact]

[Redact]

[Redact]

29763699

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Missing verification of Taxes and Insurance. Credit Report in file verifies payment but does not reflect taxes and insurance are escrowed.

Reviewer Comment (2024-01-15): Received statement which verifies tax and insurance escrowed. Exception Cleared. Seller Comment (2024-01-12): [Redact]: Please see attached MORTGAGE statement that shows the escrow for taxes and insurance and the payments made to both

01/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

220714971

[Redact]

[Redact]

[Redact]

29763712

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Loan Discount Points was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2024-01-17): [Redact] received CD dated [Redact] along with COC and lock confirmation. Seller Comment (2024-01-15): cofc,lock,cd Seller Comment (2024-01-15): On [Redact], there was a CofC for the sales price and loan amount which caused the pricing to update. See attached CofC, lock, and CD

01/17/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

220714971

[Redact]

[Redact]

[Redact]

29782388

Credit

Title

Document Error

Title

The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

01/10/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

220715649

[Redact]

[Redact]

[Redact]

29542951

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-02): Waived on Rate Lock: Collateral cleared by Custodian

01/02/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220715649

[Redact]

[Redact]

[Redact]

29542952

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-02): Waived on Rate Lock: Collateral cleared by Custodian

01/02/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220715649

[Redact]

[Redact]

[Redact]

29699348

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

12/22/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220715649

[Redact]

[Redact]

[Redact]

29699350

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue Date >  Closing Disclosure Issue Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided.

Reviewer Comment (2024-01-18): Initial CD indicates it was issued on [Redact]. Seller Comment (2024-01-16): PCCD Seller Comment (2024-01-16): The PCCD showing an issue date of [Redact] was issued to the borrower on [Redact]. There was an internal technical glitch on [Redact] where documents generated were printing the lock date as the issue date. The cover letter of the PCCD shows this was a file review of the final CD from closing. Please see attached cover letter with PCCD showing this was delivered on [Redact] Reviewer Comment (2024-01-04): On [Redact] both an LE and CD were issued.  No LE may be issued on or after the date of the initial CD.  This is a timing issue with no visible means of cure. Seller Comment (2024-01-02): TRID Seller Comment (2024-01-02): On [Redact] there was a system glitch where the issue date was printed as the lock date on the loan. The CD with an issue date of [Redact]was generated on [Redact] as a PCCD and shows the issue date as [Redact].

01/18/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220715649

[Redact]

[Redact]

[Redact]

29699373

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact].  Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current  coverage amount.

Reviewer Comment (2024-01-02): Received guaranteed replacement cost letter. Exception Cleared. Seller Comment (2024-01-02): [Redact]: The dwelling has guaranteed replacement cost.

01/02/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220715737

[Redact]

[Redact]

[Redact]

29543107

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-09): The collateral was delivered [Redact] at 853am via [Redact] trk#[Redact].

01/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220715737

[Redact]

[Redact]

[Redact]

29543108

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-09): The collateral was delivered [Redact] at 853am via [Redact] trk#[Redact].

01/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220715737

[Redact]

[Redact]

[Redact]

29742942

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

The file is missing a copy of Guarantor Agreement

Reviewer Comment (2024-01-11): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-11): Please see attached Guarantor Agreement.

01/11/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220715737

[Redact]

[Redact]

[Redact]

29742949

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The file is missing a copy of Business Purpose Certificate

Reviewer Comment (2024-01-11): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-01-11): Please see attached business purpose cert.

01/11/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220715738

[Redact]

[Redact]

[Redact]

29543116

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2023-12-21): Waived on Rate Lock: Collateral cleared by Custodian

12/21/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220715738

[Redact]

[Redact]

[Redact]

29543117

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2023-12-21): Waived on Rate Lock: Collateral cleared by Custodian

12/21/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220716006

[Redact]

[Redact]

[Redact]

29549208

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-12): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 9:49 am.

01/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220716006

[Redact]

[Redact]

[Redact]

29549209

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-12): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 9:49 am.

01/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220716006

[Redact]

[Redact]

[Redact]

29763468

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The File was missing a copy of Business Purpose Certificate.

Reviewer Comment (2024-01-16): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-01-12): Please see attached Business Purpose Cert.

01/16/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220716006

[Redact]

[Redact]

[Redact]

29763471

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

The file was missing a copy of Guarantor Agreement.

Reviewer Comment (2024-01-16): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-12): Please see attached Guarantor Agreement.

01/16/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220716102

[Redact]

[Redact]

[Redact]

29550491

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-01): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-26): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 9:21 am.

01/01/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220716102

[Redact]

[Redact]

[Redact]

29550492

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-01): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2023-12-26): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 9:21 am.

01/01/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220723436

[Redact]

[Redact]

[Redact]

29581596

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-16): The collateral was delivered [Redact] at 929am via [Redact] trk#[Redact].

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220723436

[Redact]

[Redact]

[Redact]

29581597

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-16): The collateral was delivered [Redact] at 929am via [Redact] trk#[Redact].

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220723436

[Redact]

[Redact]

[Redact]

29770226

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

File is missing a copy of document confirming Condo was warrantable.

Reviewer Comment (2024-01-18): Received appraisal with color photos. Exception Cleared. Seller Comment (2024-01-18): condo approval

01/18/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220723436

[Redact]

[Redact]

[Redact]

29770248

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.

The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

01/08/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220723436

[Redact]

[Redact]

[Redact]

29788028

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Tax Certificate not provided

Please provide a copy of the tax certificate that was used to calculate the annual taxes for the subject property.

Reviewer Comment (2024-01-17): Received Tax Certificate. Exception Cleared. Seller Comment (2024-01-17): taxes

01/17/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220730513

[Redact]

[Redact]

[Redact]

29600030

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-10): (Rate Lock) [Redact] Tracking # [Redact]

01/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220730513

[Redact]

[Redact]

[Redact]

29600031

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-10): (Rate Lock) [Redact] Tracking # [Redact]

01/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220730513

[Redact]

[Redact]

[Redact]

29745294

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

The Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. Acknowledgement of appraisal report receipt by borrower is required.

01/04/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220730603

[Redact]

[Redact]

[Redact]

29600748

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-02): Waived on Rate Lock: Collateral cleared by Custodian

01/02/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

220730603

[Redact]

[Redact]

[Redact]

29600749

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-02): Waived on Rate Lock: Collateral cleared by Custodian

01/02/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

220730603

[Redact]

[Redact]

[Redact]

29692430

Credit

Missing Document

General

Missing Document

Missing Document: Desk Review not provided

Per the guidelines, a Collateral Desktop Analysis report (CDA) from [Redact] is required for loans where only one appraisal is obtained.  The file is missing a copy of the CDA.

Reviewer Comment (2024-01-24): Received CDA. Exception Cleared. Seller Comment (2024-01-24): [Redact]: Please see the attached CDA.

01/24/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

220730606

[Redact]

[Redact]

[Redact]

29600760

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220730606

[Redact]

[Redact]

[Redact]

29600761

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220730606

[Redact]

[Redact]

[Redact]

29740657

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.

The Title Policy has a coverage amount of [Redact] this is less than the note amount of [Redact] Please provide an updated title Commitment or final title.

01/03/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220731270

[Redact]

[Redact]

29602225

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Bylaws not provided

Entity is a Coporation, Bylaws missing for [Redact]

Reviewer Comment (2023-11-09): Received Bylaws for [Redact]. Exception Cleared Buyer Comment (2023-11-08): Please see attached Bylaws for [Redact]. Reviewer Comment (2023-11-03): Received Operating Agreement however Entity is a Corporation, Bylaws missing for [Redact]. Buyer Comment (2023-11-02): Operating agreement

11/09/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

C

A

N/A

No

220731270

[Redact]

[Redact]

29602226

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Calculated loan to value percentage of 70.00000% exceeds Guideline loan to value percentage of 65.00000%.

Reviewer Comment (2023-11-03): Received the matrix dated [Redact]. Buyer Comment (2023-11-02): Lender's rebuttal: Lock date was [Redact] so the effective matrix at the time has 70% max LTV for 664 FICO score with DSCR ratio greater than 1.00. Please see attached effective matrix

11/03/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

C

A

N/A

No

220731270

[Redact]

[Redact]

29602228

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception in the loan file for living rent free.

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

26.43 vs 6

SitusAMC,Originator

Reviewer Comment (2023-10-26): Lender approved exception to waive with compensating factors. Comp factors provided are: 26 months reserves.

10/26/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

C

A

N/A

No

220731270

[Redact]

[Redact]

29602229

Property

Appraisal Reconciliation

Value Discrepancy

Appraisal Reconciliation

Loan is to be securitized.  Highest level secondary valuation does not support the value used to qualify.; Sec ID: 7

The CDA provided list a value of [Redact].  Provide updated CDA reflecting correct value.

Reviewer Comment (2023-11-10): Updated CDA provided. Buyer Comment (2023-11-09): Please see corrected Desk Review

11/10/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

C

A

N/A

No

220731274

[Redact]

[Redact]

29602242

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Per the guidelines if the loan is closing in an entity the entity needs to be listed on the appraisal and the SSR as the borrower. Exception to have appraisal and SSRs reflect TBD and not the entity name as it is a transferred appraisal so the broker cannot get the name updated on the appraisal to reflect the entity. Compensating factors stated Borrower has been at their primary for over 26 years. The DSCR is over 1.1 and the LTV is 60.294%. Borrower is sole member of the LLC.

Borrower has owned the subject property for at least 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

SitusAMC SitusAMC

Reviewer Comment (2023-11-01): Lender exception provided.

11/01/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731274

[Redact]

[Redact]

29602244

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Corporate Resolution not provided.

Reviewer Comment (2023-11-08): Received a copy of Corporate Resolution. Exception Cleared. Buyer Comment (2023-11-07): res

11/08/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731274

[Redact]

[Redact]

29602245

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Operating Agreement not provided.

Reviewer Comment (2023-11-16): Business is Single Member entity. Operating agreement not require for Taxes state. Corporate resolution already provided. Exception Cleared Buyer Comment (2023-11-15): comment from lender: Operating Agreement or Bylaws are not required in [Redact]. There is not an operating agreement. Please see attached confirmation from processor with documents confirming the borrower is sole member. Reviewer Comment (2023-11-09): Reopened. Cleared by mistake. Reviewer Comment (2023-11-08): Received a copy of Corporate Resolution documents with ownership and guarantor details. Exception Cleared.

11/16/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731278

[Redact]

[Redact]

29602251

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

Lease Agreement is missing in file.

Reviewer Comment (2023-10-23): Subject Property is vacant, no lease in place. Exception Cleared Buyer Comment (2023-10-20): Per lender The Property was Vacant at closing so there is not a Lease Agreement. Please see appraisal confirming the property was Vacant

10/23/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731278

[Redact]

[Redact]

29602253

Credit

Missing Document

General

Missing Document

ACH was missing from file.

"Complete" Automatic Payment Authorization (ACH) Form is required for all foreign national borrowers.

Reviewer Comment (2023-11-10): Received ACH form with Borrower's Bank account # [Redact] . Exception Cleared Buyer Comment (2023-11-09): ACH Form

11/10/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731278

[Redact]

[Redact]

29602257

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

A valid Decision Credit score requires at least one borrower to have a minimum of two credit scores.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%. The representative FICO score exceeds the guideline minimum by at least 40 points.

SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-10-18): Lender exception provided to allow US Credit Report with only one credit score. Compensating factors provided are: [Redact] in liquid reserves, DSCR 1.18, LTV 59.925, 10 years on the job FICO 742. Borrower owns 50+ investment properties and is very experienced.

10/18/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731278

[Redact]

[Redact]

29602259

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Use of [Redact] to support value - CDA has a grade C and variance >10%. Please order a field review.

Reviewer Comment (2023-11-17): Appraisal review provided. Buyer Comment (2023-11-15): Please see attached re-pulled Desk Review showing Grade A. The line through the date is a glitch from the appraisers system.

11/17/2023

1

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731279

[Redact]

[Redact]

29602261

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

The property type differs between the valuation documents in file. Unable to verify the property type.  Ineligible per guidelines.

The property type differs between 1004 and desk review as per document in file. (Appraiser confirms property is a PUD with monthly HOA fee). Secondary valuation reflects SFR detached.

Reviewer Comment (2023-11-07): Updated desk review provided. Buyer Comment (2023-11-03): Per  Lender: Please see attached Desk Review with property type as PUD

11/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

A

A

C

A

N/A

No

220731286

[Redact]

[Redact]

29602274

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2023-11-09): State of [Redact] documentation showing LLC formation provided. Reviewer Comment (2023-11-09): Require Articles of Organization/Formation for "[Redact]". Business Entity license provided. Exception remains Buyer Comment (2023-11-08): ao Reviewer Comment (2023-11-06): Received Certificate of Good Standing of Business entity, Require Articles of Organization/Formation. Exception Remains Buyer Comment (2023-11-03): Articles of incorp

11/09/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220731286

[Redact]

[Redact]

29602275

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

The file was missing a copy of the final title policy.

Reviewer Comment (2023-11-06): Final Title policy Received covering the loan amount. exception cleared

11/06/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220731286

[Redact]

[Redact]

29602276

Credit

Title

Document Error

Title

The Preliminary/Commitment does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

Reviewer Comment (2023-11-06): Final Title policy Received covering the loan amount. exception cleared Buyer Comment (2023-11-03): title

11/06/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220731286

[Redact]

[Redact]

29602277

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing  Guaranty Agreement singed by all  parties.

Reviewer Comment (2023-11-09): Signed Guaranty Agreement provided. Buyer Comment (2023-11-08): Comment from lender: The signatures of the other Guarantors are on the 2nd to last page of the uploaded Guaranty agreement and notary on the last page. Please review all pages Buyer Comment (2023-11-07): signatures of others provided on page 752 (D0340) Reviewer Comment (2023-11-06): The Guaranty Agreements provided are only signed by [Redact]. Buyer Comment (2023-11-03): Guaranty

11/09/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220731301

[Redact]

[Redact]

29602311

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide lease agreement, VOR and cancelled check to verify current housing history.

Reviewer Comment (2023-11-17): VOR provided. Buyer Comment (2023-11-16): VOR

11/17/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220731316

[Redact]

[Redact]

29602338

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Corporate Resolution missing

Reviewer Comment (2023-11-20): Corporate resolution provided. Buyer Comment (2023-11-16): Corp resolution

11/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731316

[Redact]

[Redact]

29602340

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Living rent free requires management exception. Allow living rent free. Comp factors: Borrower purchase oldest retained property on [Redact]- has a DSCR of 1.207 & a 65% ltv.

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

67 vs 6

SitusAMC,Originator Pre-Close,Originator

Reviewer Comment (2023-11-13): Approved to waive with compensating factors, Oldest retained property [Redact], DSCR 1.207, 65% LTV and reserves > 4 months more than required.

11/13/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220731317

[Redact]

[Redact]

29602341

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

LTV excessive. Review used max LTV of 66.51%. Value [Redact] x 65% = [Redact] + eligible stacking points [Redact] = [Redact] max loan amount into value of [Redact] = 66.51% vs loan closed at 66.95652%.

Reviewer Comment (2023-11-21): Request to review to the [Redact] guidelines, LTV was 70%. Buyer Comment (2023-11-20): comment from lender: This loan was underwritten on [Redact] when the [Redact] guidelines were in effect - see attached Matrix to confirm LTV is within guidelines.

11/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220741955

[Redact]

[Redact]

[Redact]

29611515

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-23): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:47 am.

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220741955

[Redact]

[Redact]

[Redact]

29611516

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-23): Per [Redact] tracking [Redact], the collateral was delivered on [Redact] at 8:47 am.

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220741955

[Redact]

[Redact]

[Redact]

29824209

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

File is missing a copy of Articles of Organization/Formation for business entity [Redact]

Reviewer Comment (2024-01-30): Loan does not close in the of Business Entity. Exception Cleared. Seller Comment (2024-01-26): This loan did not close in the name of an LLC.

01/30/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220741955

[Redact]

[Redact]

[Redact]

29824296

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

File is missing a copy of Guarantor Agreement.

Reviewer Comment (2024-01-30): Loan does not close in the of Business Entity. Exception Cleared. Seller Comment (2024-01-30): This loan did not close in the name of an LLC.

01/30/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220741955

[Redact]

[Redact]

[Redact]

29824611

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Tax Certificate not provided

Please provide a copy of the tax cert used to calculate the taxes oon the final CD.

Reviewer Comment (2024-01-24): Tax cert provided, exception cleared. Seller Comment (2024-01-24): taxes

01/24/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220741955

[Redact]

[Redact]

[Redact]

29824659

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___.

The DSCR doesn't meet the guideline of 1.25X, however there is an approved lender exception in the file.

The representative FICO score exceeds the guideline minimum by at least 40 points. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

*Credit sore of 741 is 41 points above program minimum (700). *LTV 61.08 is 13 below program maximum (75).

SitusAMC,Originator Pre-Close,Aggregator SitusAMC Originator Pre-Close,Aggregator,SitusAMC

Reviewer Comment (2024-01-23): Client elected to waive the condition with the following Compensating Factors: *LTV 61.08 is 13 below program maximum (75). *Credit sore of 741 is 41 points above program minimum (700). *Borrowers have mortgage history dating back to [Redact] all paid as agreed (10 years).

01/23/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220741955

[Redact]

[Redact]

[Redact]

29859733

Credit

Collateral

Missing/Incorrect

Collateral

Collateral report shows issues with Note.

Mortgagor Name(s) does not agree with Schedule SCH:  [Redact]               ALL DOCS: [Redact]

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-26): Newrez authorizes to please match the data from the note to the schedule.

01/30/2024

1

A

A

A

A

A

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220746446

[Redact]

[Redact]

[Redact]

29620193

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-18): Waived on Rate Lock: Collateral cleared by Custodian

01/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220746446

[Redact]

[Redact]

[Redact]

29620194

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-18): Waived on Rate Lock: Collateral cleared by Custodian

01/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220746446

[Redact]

[Redact]

[Redact]

29800585

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Employer Identification Number (EIN) not provided

Reviewer Comment (2024-01-30): LLC is a single member LLC and an EIN is not required.  Lender confirmed there was not an EIN. Reviewer Comment (2024-01-30): The guidelines provided and used for the review require proof of the tax identification number.  Condition is valid and remains open Seller Comment (2024-01-26): Per our UW upper management: The W9 is acceptable for EIN verification - in this case the borrower does not have an EIN as they are a single member LLC and use their own SSN as their EIN.  This is acceptable per both our policy and IRS regulations. Please escalate if needed. Reviewer Comment (2024-01-24): Smartvest guidelines do require a EIN and just a W9 without the EIN will not suffice. Seller Comment (2024-01-24): Please attached guidelines stating W-9 is acceptable documentation. Reviewer Comment (2024-01-23): EIN not provided on W-9 document. Please provide document which reflects EIN. Exception Remains. Seller Comment (2024-01-23): Please see attached W-9.

01/30/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220752802

[Redact]

[Redact]

[Redact]

29626964

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-25): Waived on Rate Lock: Collateral cleared by Custodian

01/25/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752802

[Redact]

[Redact]

[Redact]

29626965

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-25): Waived on Rate Lock: Collateral cleared by Custodian

01/25/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752802

[Redact]

[Redact]

[Redact]

29798734

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

01/16/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752802

[Redact]

[Redact]

[Redact]

29798788

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Copy of Homeownership Counseling is not available in file.

Reviewer Comment (2024-01-19): Received homeownership counselling list. Exception Cleared. Seller Comment (2024-01-17): Homeowners counseling list

01/19/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752802

[Redact]

[Redact]

[Redact]

29799532

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Missing Mortgage Statement for Primary Address located in [Redact]

Reviewer Comment (2024-01-19): Received mortgage statement. Exception Cleared. Seller Comment (2024-01-18): reo docs

01/19/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752802

[Redact]

[Redact]

[Redact]

29801316

Compliance

Compliance

Federal Compliance

Missing Required Data (other than HUD-1 or Note)

Disparity in Occupancy - Not High Cost and Not Higher Priced

The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Second Home).

Initial and final 1003 identified both borrowers would occupy the subject as a primary residence.

01/16/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752802

[Redact]

[Redact]

[Redact]

29801318

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Mismatch of data related to Occupancy.

-

Initial and final 1003 identified both borrowers would occupy the subject as a primary residence.  Provide a corrected final 1003 updating the declarations section.

Reviewer Comment (2024-01-24): Updated final 1003 reflects provided. Exception cleared. Seller Comment (2024-01-22): updated final 1003- per our uw- The declarations should be No. This is a second home so they are not occupying as their primary residence.

01/24/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752802

[Redact]

[Redact]

[Redact]

29847102

Compliance

Compliance

Federal Compliance

Missing Required Data (other than HUD-1 or Note)

Disparity in Occupancy - Not Tested As Primary

The mortgage loan file contains documenting evidence the consumer intends to occupy the subject property as their primary residence. (Compliance testing performed based on the Occupancy Type of Second Home).  Determination has not been made as to whether the loan would be High Cost and/or HPML if ran as a Primary Residence.

Reviewer Comment (2024-01-24): Updated final 1003 reflects provided. Exception cleared.

01/24/2024

1

A

A

A

A

A

[Redact]

Second Home

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

220752807

[Redact]

[Redact]

[Redact]

29627022

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-04): The collateral was delivered [Redact] at 8:15am via [Redact] trk#[Redact].

01/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220752807

[Redact]

[Redact]

[Redact]

29627023

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-04): The collateral was delivered [Redact] at 8:15am via [Redact] trk#[Redact].

01/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220752807

[Redact]

[Redact]

[Redact]

29722362

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Reviewer Comment (2024-01-08): Received Security Instrument - Subject Lien. Exception Cleared. Seller Comment (2024-01-08): Please see attached copy of the mortgage.

01/08/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220765810

[Redact]

[Redact]

29694815

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]

Buyer Comment (2023-12-27): Initial and Final Grade B, accepted

12/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220765810

[Redact]

[Redact]

29694818

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue Date >  Closing Disclosure Issue Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided.

The file contained a CD issued [Redact] that is marked "Preliminary". The CD was issued prior to the latest LE. Documentation is required to confirm this CD was not delivered to the borrower. Once received, the CD will be excluded and the condition will be cleared

Reviewer Comment (2023-12-29): [Redact] received LOA for [Redact] CD exclusion. Seller Comment (2023-12-27): Attestation

12/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined cure

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220765812

[Redact]

[Redact]

29695023

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]

Buyer Comment (2023-12-27): Initial and Final Grade B, accepted

12/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220765812

[Redact]

[Redact]

29695028

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Insufficient or no cure was provided to the borrower.

10% tolerance was exceeded by [Redact] due to increase of title fees. No valid COC provided, nor evidence of cure in file. Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.

Reviewer Comment (2023-12-27): [Redact]: Sufficient cure provided. Full cure amount for tolerance violation was provided at closing (on final CD) resulting in a cleared exception. Seller Comment (2023-12-27): Please advise what specific fee or fees this is referencing to come up with the [Redact] figure.  Does this also take in account the [Redact] Lender Credit in Section J?

12/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220765812

[Redact]

[Redact]

29711511

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2023-12-27): Sufficient Cure Provided At Closing

12/27/2023

1

A

A

A

A

A

[Redact]

Primary

Purchase

Final CD evidences Cure

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220765814

[Redact]

[Redact]

29695061

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Incomplete CD in file. Date issued not provided.

Reviewer Comment (2023-12-28): [Redact] Received LOA to remove incomplete CD, from testing as not provided to the borrower. Seller Comment (2023-12-27): Attestation

12/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

220765814

[Redact]

[Redact]

29695062

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Incomplete CD in file. Date issued not provided.

Reviewer Comment (2023-12-28): [Redact] Received LOA to remove incomplete CD, from testing as not provided to the borrower. Seller Comment (2023-12-27): Attestation

12/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220765815

[Redact]

[Redact]

29695975

Credit

Title

Document Error

Title

The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

12/21/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

B

B

B

B

A

A

A

A

Exempt from ATR

Exempt from ATR

No

220765816

[Redact]

[Redact]

29696387

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact]).

Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact]).

Buyer Comment (2023-12-27): Initial and Final Grade B, accepted

12/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220765816

[Redact]

[Redact]

29696389

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Interim Closing Disclosure Timing Test

TILA-RESPA Integrated Disclosure - Corrected Closing Disclosure provided on or after [Redact] contains a change in APR and was not received by borrower at least three (3) business days prior to consummation

Corrected Closing Disclosure provided on or after [Redact] contains a change in APR and was not received by borrower at least three (3) business days prior to consummation

Reviewer Comment (2023-12-28): [Redact] received updated CD dated [Redact]. Seller Comment (2023-12-27): ICD

12/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TRID timing exception, no remediation available.

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220765816

[Redact]

[Redact]

29696390

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue and Received Date >  Closing Disclosure Issue and Received Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided. (The Revised Loan Estimate was received on or after the Closing Disclosure.)

Final LE is required to be received by borrower at least 1 day prior to Initial CD.  Based on documentation in file, Final LE was received by borrower on or after date Initial CD was received.  Evidence of earlier receipt of LE was not located in file.

Reviewer Comment (2023-12-29): [Redact] received lender attestation that [Redact] CD was never disclosed to borrower. Seller Comment (2023-12-27): Attestation and ICD

12/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220765816

[Redact]

[Redact]

29696391

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue Date >  Closing Disclosure Issue Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided.

LE is required to be received by borrower at least 1 day prior to Initial CD.  Based on documentation in file, LE was received by borrower on or after date Initial CD was received.  Evidence of earlier receipt of LE was not located in file.

Reviewer Comment (2023-12-29): [Redact] received lender attestation that [Redact] CD was never disclosed to borrower. Seller Comment (2023-12-27): Attestation and ICD

12/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220765816

[Redact]

[Redact]

29705643

Credit

Asset

Asset Eligibility

Asset

Guideline Issue: Seller concessions exceeds the amount allowed per credit guidelines

6% seller concessions > 4 % maximum allowed per guidelines. Lender exception provided in loan file.

Miscellaneous Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact].

0 X 30 on all mortgages, credit cards and auto loans since 2017

Aggregator SitusAMC SitusAMC

Reviewer Comment (2023-12-27): Client elected to waive the condition with the following Comp Factor: 0 X 30 on all mortgages, credit cards and auto loans since 2017

12/27/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220765818

[Redact]

[Redact]

29696018

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

The Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-12-27): Initial and Final Grade B, accepted

12/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Second Home

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220765821

[Redact]

[Redact]

29699013

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-12-28): Initial and Final Grade B, accepted

12/28/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220765821

[Redact]

[Redact]

29699016

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Recording Service Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Title - Recording Service Fee was not disclosed on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2024-01-09): [Redact] received Letter of Explanation, Proof of Delivery, Refund check  & Corrected CD. Seller Comment (2024-01-09): Refund package

01/09/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220765821

[Redact]

[Redact]

29699021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available. (Interim/[Redact])

Reviewer Comment (2024-01-08): [Redact] Received LOA to remove document(s) 206 and 207 , from testing as not provided to the borrower. Seller Comment (2024-01-05): Updated Attestation Reviewer Comment (2024-01-02): [Redact] Documents 206 and 207 are incomplete If the CDs were not provided to the borrower, please provide specific comments indicating the documents ID's 206 and 207 were never provided to the borrower and [Redact] will review for re-testing. Seller Comment (2023-12-28): Attestation

01/08/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220765821

[Redact]

[Redact]

29699022

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available. (Initial/[Redact])

Reviewer Comment (2024-01-08): [Redact] Received LOA to remove document(s) 206 and 207 , from testing as not provided to the borrower. Seller Comment (2024-01-05): Updated Attestation Reviewer Comment (2024-01-02): [Redact] Documents 206 and 207 are incomplete If the CDs were not provided to the borrower, please provide specific comments indicating the documents ID's 206 and 207 were never provided to the borrower and [Redact] will review for re-testing. Seller Comment (2023-12-28): Attetsation

01/08/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220765821

[Redact]

[Redact]

29700965

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Per lender guidelines, the maximum number of properties that the borrower can own is 6, however, the borrower owns 6 and is purchasing a 7th.  Lender approved exception in file for the purchase of the 7th property.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

19.16 months reserves residual income of [Redact] monthly.

SitusAMC,Originator Pre-Close,Aggregator Aggregator,SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-12-28): Client elected to waive the condition with the following Comp Factors: 19.16 months reserves, residual income of 44,556 monthly.

12/28/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220765822

[Redact]

[Redact]

29696335

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Mortgage Loan Payoff Statement not provided

The file is missing of the Mortgage Loan Payoff Statement

Reviewer Comment (2023-12-27): It is Buyout Agreement, sale is between family members. Exception Cleared. Seller Comment (2023-12-27): UW LOE and payoff

12/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

A

B

B

A

A

Exempt from ATR

Exempt from ATR

No

220765822

[Redact]

[Redact]

29696353

Compliance

Compliance

Federal Compliance

GSE

FNMA Points and Fees

FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2023). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2023) (an overage of [Redact] or [Redact]).

FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2023). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact]

Buyer Comment (2023-12-27): Initial and Final Grade B, accepted

12/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

A

B

B

A

A

Exempt from ATR

Exempt from ATR

Yes

220765828

[Redact]

[Redact]

29695881

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Flood insurance coverage amount is insufficient.

Flood insurance coverage is insufficient by [Redact].  Minimum required amount is the lessor of 100% replacement cost, UPB, or NFIP max of [Redact].  Lender to provide updated policy with coverage no less than [Redact].

Reviewer Comment (2023-12-27): Received Updated Insurance Policy which is having Replacement Cost. Exception Cleared. Seller Comment (2023-12-27): Per agent RCE located on page 2 of document

12/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220765828

[Redact]

[Redact]

29695887

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by  [Redact].  Must have dwelling coverage of no less than the loan amount or full replacement cost amount.

Reviewer Comment (2023-12-27): Received Updated Insurance Policy which is having Replacement Cost. Exception Cleared. Seller Comment (2023-12-27): Per agent RCE located on page 2 of document

12/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220765831

[Redact]

[Redact]

29700925

Credit

Missing Document

General

Missing Document

Missing Document: HUD/CD not provided

The file was missing a copy of HUD/CD.

Reviewer Comment (2024-01-04): Final Closing statement provided Seller Comment (2024-01-02): final settlement stmt

01/04/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

220765834

[Redact]

[Redact]

29699787

Credit

Missing Document

General

Missing Document

Missing Document: HUD/CD not provided

The file was missing a copy of the HUD/CD.

Reviewer Comment (2023-12-28): Final settlement statement provided Seller Comment (2023-12-28): final settlement stmt

12/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220765835

[Redact]

[Redact]

29696371

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Reviewer Comment (2023-12-29): Business Entity docs provided. Exception cleared. Reviewer Comment (2023-12-27): Provided business entity documents are for different entity. Required business documents for ""[Redact]". Exception Remains. Seller Comment (2023-12-27): Entity docs

12/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220765837

[Redact]

[Redact]

29716396

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender exception approval in file

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The representative FICO score exceeds the guideline minimum by at least 40 points.

: 155.55 months reserves,

SitusAMC,Originator Pre-Close,Aggregator SitusAMC

Reviewer Comment (2023-12-28): Client elected to waive the condition with the following Comp Factors: 155.55 months reserves, 0X30 for 72 months on all mortgages

12/28/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220765837

[Redact]

[Redact]

29716397

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Lender exception approval in file

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The representative FICO score exceeds the guideline minimum by at least 40 points.

: 155.55 months reserves,

SitusAMC,Originator Pre-Close,Aggregator SitusAMC

Reviewer Comment (2023-12-28): Client elected to waive the condition with the following Comp Factors: 155.55 months reserves, 0X30 for 72 months on all mortgages

12/28/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220765845

[Redact]

[Redact]

29699546

Credit

Documents

Missing Document

Documents

File does not contain documentation form lender/seller confirming the condo is warrantable.

-

Lender exception approval in file for the non-warrantable condo.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The representative FICO score exceeds the guideline minimum by at least 40 points.

39.10 months reserves.

SitusAMC,Originator Pre-Close,Aggregator SitusAMC SitusAMC

Reviewer Comment (2023-12-28): Client elected to waive the condition with the following Comp Factors: 0X30 on all mortgages since 2012, 39.10 months reserves.

12/28/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220765905

[Redact]

[Redact]

[Redact]

29650678

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220765905

[Redact]

[Redact]

[Redact]

29650679

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220765905

[Redact]

[Redact]

[Redact]

29859828

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

For multiple properties the LTV/CLTV is to be 75%.  The difference is due to the lender calculated the LTV/CLTV using the higher sales price instead of the lower appraised value.

The qualifying DSCR on the loan is greater than the guideline minimum. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

- DSCR 1.30 (1.0 required) Post close reserves [Redact] ([Redact] required)

SitusAMC,Aggregator Aggregator,SitusAMC SitusAMC

Reviewer Comment (2024-02-05): Client elected to waive the condition with the following compensating factors: - DSCR 1.30 (1.0 required) - Post close reserves [Redact] ([Redact] required) - Experienced investor (6 additional properties owned)

02/05/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220765905

[Redact]

[Redact]

[Redact]

29859830

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

For multiple properties the LTV/CLTV is to be 75%.  The difference is due to the lender calculated the LTV/CLTV using the higher sales price instead of the lower appraised value.

The qualifying DSCR on the loan is greater than the guideline minimum. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

- DSCR 1.30 (1.0 required) Post close reserves [Redact] ([Redact] required)

SitusAMC,Aggregator Aggregator,SitusAMC SitusAMC

Reviewer Comment (2024-02-05): Client elected to waive the condition with the following compensating factors: - DSCR 1.30 (1.0 required) - Post close reserves [Redact] ([Redact] required) - Experienced investor (6 additional properties owned)

02/05/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220765918

[Redact]

[Redact]

[Redact]

29650716

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220765918

[Redact]

[Redact]

[Redact]

29650717

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220765918

[Redact]

[Redact]

[Redact]

29770252

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

01/08/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220766244

[Redact]

[Redact]

[Redact]

29655578

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-11): (Rate Lock) tracking #[Redact] via [Redact] Thank you.

01/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220766244

[Redact]

[Redact]

[Redact]

29655579

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-11): (Rate Lock) tracking #[Redact] via [Redact] Thank you.

01/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220766244

[Redact]

[Redact]

[Redact]

29766484

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

01/05/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220766651

[Redact]

[Redact]

[Redact]

29657216

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-18): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-17): Collateral delivered [Redact] via [Redact] tracking number [Redact].

01/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220766651

[Redact]

[Redact]

[Redact]

29657217

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-18): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-17): Collateral delivered [Redact] via [Redact] tracking number [Redact].

01/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220766651

[Redact]

[Redact]

[Redact]

29786873

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Rider - Other not provided

File is missing a copy of Entity Borrower Rider.

Reviewer Comment (2024-01-21): Received Entity Borrower Rider. Exception Cleared. Seller Comment (2024-01-19): Please see attached copy of recorded mortgage.

01/21/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220766651

[Redact]

[Redact]

[Redact]

29786984

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

File is missing a copy of Business Purpose Certificate.

Reviewer Comment (2024-01-17): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-01-17): Business purpose cert attached.

01/17/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220766651

[Redact]

[Redact]

[Redact]

29786999

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

File is missing a copy of Guarantor Agreement of [Redact]

Reviewer Comment (2024-01-17): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-17): Guarantor Agreement attached.

01/17/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220766857

[Redact]

[Redact]

[Redact]

29657823

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-26): Waived on Rate Lock: Collateral cleared by Custodian

01/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220766857

[Redact]

[Redact]

[Redact]

29657824

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-26): Waived on Rate Lock: Collateral cleared by Custodian

01/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220767417

[Redact]

[Redact]

[Redact]

29658740

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-18): Waived on Rate Lock: Collateral cleared by Custodian

01/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220767417

[Redact]

[Redact]

[Redact]

29658741

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-18): Waived on Rate Lock: Collateral cleared by Custodian

01/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220769258

[Redact]

[Redact]

[Redact]

29664979

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-08): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

B

B

A

A

N/A

No

220769258

[Redact]

[Redact]

[Redact]

29664980

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-08): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

B

B

A

A

N/A

No

220769258

[Redact]

[Redact]

[Redact]

29923415

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___.

The co-borrower is a first time home buyer.  Approved lender exception in file for not meeting 1.25 DSCR.

Borrower's monthly reserves have been verified and exceed the guideline required amount by the equivalent of 4 months PITIA or more. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The representative FICO score exceeds the guideline minimum by at least 40 points.

* Post Close Reserves: [Redact] where [Redact] is required (6.63X) * FICO 794 which is 94 points above the minimum 700

SitusAMC,Originator Pre-Close,Aggregator SitusAMC Originator Pre-Close,Aggregator,SitusAMC

Reviewer Comment (2024-02-05): Client elected to waive the condition with the following Compensating Factors: * Post Close Reserves: [Redact] where [Redact] is required (6.63X) * FICO 794 which is 94 points above the minimum 700 * Credit Depth: Credit history back to 1993 mortgage history to 2009 4 credit utilization all credit paid as agreed

02/05/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

B

B

A

A

N/A

No

220771657

[Redact]

[Redact]

[Redact]

29673672

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220771657

[Redact]

[Redact]

[Redact]

29673673

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220771657

[Redact]

[Redact]

[Redact]

29855889

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact] Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2024-01-31): Received RCE with sufficient coverage. Exception Cleared. Seller Comment (2024-01-30): Please see attached RCE.

01/31/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220771657

[Redact]

[Redact]

[Redact]

29855892

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

The file was missing a copy of Guarantor Agreement

Reviewer Comment (2024-01-30): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-29): Guarantor Agreement attached.

01/30/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220772281

[Redact]

[Redact]

[Redact]

29677913

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

A

A

A

A

A

A

N/A

No

220772281

[Redact]

[Redact]

[Redact]

29677914

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

A

A

A

A

A

A

N/A

No

220772284

[Redact]

[Redact]

[Redact]

29677943

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-27): Waived on Rate Lock: Collateral cleared by Custodian

02/27/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

A

A

A

A

A

A

N/A

No

220772284

[Redact]

[Redact]

[Redact]

29677944

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-27): Waived on Rate Lock: Collateral cleared by Custodian

02/27/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

A

A

A

A

A

A

N/A

No

220772290

[Redact]

[Redact]

[Redact]

29677977

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): collateral delivered [Redact] via [Redact] [Redact]

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

A

A

A

A

A

A

N/A

No

220772290

[Redact]

[Redact]

[Redact]

29677978

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): collateral delivered [Redact] via [Redact] [Redact]

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

A

A

A

A

A

A

N/A

No

220772475

[Redact]

[Redact]

[Redact]

29679309

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-10): The collateral was delivered [Redact] at 853am via [Redact] trk#[Redact].

01/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220772475

[Redact]

[Redact]

[Redact]

29679310

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-10): The collateral was delivered [Redact] at 853am via [Redact] trk#[Redact].

01/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220780413

[Redact]

[Redact]

[Redact]

29690696

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

220780413

[Redact]

[Redact]

[Redact]

29690697

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

220780413

[Redact]

[Redact]

[Redact]

29830357

Credit

Asset

Asset Documentation

Asset

Earnest Money Deposit is unsourced.  Per guidelines EMD source is required.

EMD of [Redact] came from account that contains transfers from business account and undocumented gift funds, which is not allowed for loan program. Lender exception with compensating factors in loan file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least 40 points. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

Reserves of [Redact] 2.9X what is required and all from personal liquid funds 752 FICO 72 points above the minimum 680 LTV of 65 when the maximum is 80

Originator Pre-Close,SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC Originator Pre-Close,Aggregator,SitusAMC Originator Pre-Close,Aggregator,SitusAMC

Reviewer Comment (2024-01-22): Client elected to waive the condition with the following Compensating Factors: *             LTV of 65 when the maximum is 80 *             Reserves of [Redact] 2.9X what is required and all from personal liquid funds *             752 FICO 72 points above the minimum 680

01/22/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

220781307

[Redact]

[Redact]

[Redact]

29695877

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-06): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220781307

[Redact]

[Redact]

[Redact]

29695878

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-06): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220781338

[Redact]

[Redact]

29696109

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

1099 Transcript (2021), 1099 Transcript (2022) income documents missing from file.

Reviewer Comment (2023-11-14): Received Wage Transcript (Shows 1099-Nec)  for 2022 and 2021. Exception cleared Buyer Comment (2023-11-13): transcripts

11/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

B

A

A

A

N/A

N/A

No

220781338

[Redact]

[Redact]

29696110

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Evidence of Appraisal acknowledgement not provided in file.

Reviewer Comment (2023-11-13): Delivery confirmation provided. Buyer Comment (2023-11-10): Appraisal acknowledgment of receipt

11/13/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Purchase

C

B

C

B

B

A

A

A

N/A

N/A

No

220781338

[Redact]

[Redact]

29696111

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Calculated PITIA months reserves of 5.92 is less than Guideline PITIA months reserves of 6.00.

Borrower has been employed in the same industry for more than 5 years. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-12-04): Lender exception provided for reserves being short [Redact]. Comp factors: 720 FICO, 10 years on the job, 15+ years of monthly payments. Buyer Comment (2023-12-03): Exception

12/13/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

B

A

A

A

N/A

N/A

No

220781338

[Redact]

[Redact]

29696112

Credit

Income

Document Error

Income

Missing evidence the business is open and operating within 10  calendar days prior to Note.  (COVID19)

The loan file must include an income worksheet detailing income calculations. Income analysis for borrowers with multiple businesses must show income/loss details for each business separately, not in aggregate. Income calculation worksheets not found at time of review, [Redact].

Reviewer Comment (2023-11-24): Income worksheet provided Buyer Comment (2023-11-22): income calc wksts Reviewer Comment (2023-11-14): Business Verification Received . Please provide income worksheet as per guideline "The loan file must include an income worksheet detailing income calculations. Income analysis for borrowers with multiple businesses must show income/loss details for each business separately, not in aggregate. Income calculation worksheets not found at time of review," Exception remains Buyer Comment (2023-11-13): business active

11/24/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

B

A

A

A

N/A

N/A

No

220781338

[Redact]

[Redact]

29696113

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of 47.17007% exceeds Guideline total debt ratio of 45.00000%. Most conservative income of [Redact]/mo is less than [Redact] used to qualify.

Reviewer Comment (2023-11-24): Income worksheet received. Open 30 days account considered 5% as per guideline. Exception Cleared Buyer Comment (2023-11-22): lender income wksts

11/24/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

B

A

A

A

N/A

N/A

No

220781339

[Redact]

[Redact]

29696100

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements.

File contains evidence appraisal report provided is an updated report.  Delivery confirmations dated earlier than report date of report located in file.  Lender to provide all previous appraisal reports/updates.

Reviewer Comment (2023-11-13): Original appraisal provided. Buyer Comment (2023-11-10): Original appraisal

11/13/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

N/A

No

220781339

[Redact]

[Redact]

29696102

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

The file was missing a copy of Insurance Verification

Reviewer Comment (2023-11-14): HOI received. Closing statement shows Escrow impounded. Exception Cleared Buyer Comment (2023-11-13): HOI

11/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

N/A

No

220781339

[Redact]

[Redact]

29696103

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

The file was missing a copy of Insurance Verification

Reviewer Comment (2023-11-20): Application was withdrawn for [Redact]. Buyer Comment (2023-11-17): comment from lender: The reason the property was on the 1003 was at the time the loan closed the purchase of the new primary residence was still in process, it was not withdrawn until [Redact] so we should not need to complete a revised 1003. As for the Withdraw letter. The address is the borrower primary address, but the loan number matches the loan that was withdrawn for [Redact]. Please see attached Title report with matching loan number to the Withdraw letter. Reviewer Comment (2023-11-14): Denial Letter does not have Property address of [Redact]. Additionally, Final 1003 reflects Mortgage payment included in Calculation. Exception Remains Buyer Comment (2023-11-13): comment from lender: [Redact] application was Withdrawn. Please see attached Withdrawn Letter

11/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

N/A

No

220781339

[Redact]

[Redact]

29696104

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide AHL final Closing Disclosure/ mortgage statement for the following new purchases: [Redact] and [Redact].

Reviewer Comment (2023-11-20): This property was withdrawn on [Redact] Buyer Comment (2023-11-17): comment from lender: The reason the property was on the 1003 was at the time the loan closed the purchase of the new primary residence was still in process, it was not withdrawn until [Redact] so we should not need to complete a revised 1003. As for the Withdraw letter. The address is the borrower primary address, but the loan number matches the loan that was withdrawn for [Redact]. Please see attached Title report with matching loan number to the Withdraw letter. Buyer Comment (2023-11-13): comment from lender: Please see attached Final Settlement Statement for [Redact]. [Redact] application has been withdrawn. Please see attached withdrawn letter

11/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

N/A

No

220781339

[Redact]

[Redact]

29696106

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Max LTV/CLTV is 71.45000% which is 70% plus the [Redact] points allowed to be stacked.

Reviewer Comment (2023-11-14): Stacking is allowed per the guidelines. Buyer Comment (2023-11-13): comment from lender: both points and broker fees, not just discount fees are able to be included in stacking. Please see attached Stacking snapshot

11/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

N/A

No

220781339

[Redact]

[Redact]

29696107

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Max LTV/CLTV is 71.45000% which is 70% plus the [Redact] points allowed to be stacked.

Reviewer Comment (2023-11-14): Stacking is allowed per the guidelines. Buyer Comment (2023-11-13): comment from lender: both points and broker fees, not just discount fees are able to be included in stacking. Please see attached Stacking snapshot

11/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

N/A

No

220781339

[Redact]

[Redact]

29696108

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Please provide a LOX explaining where the borrower is living now. The borrower's primary purchase fell through.

Reviewer Comment (2023-11-28): LOX provided Buyer Comment (2023-11-24): LOX

11/28/2023

1

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

N/A

No

220781340

[Redact]

[Redact]

29696122

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-07): File not going to FNMA; lender acknowledged non material EV2

11/07/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220781340

[Redact]

[Redact]

29696124

Compliance

Compliance

State Compliance

Misc. State Level

Ohio Consumer Sales Practices Act (No Documentation of Tangible Net Benefit Analysis)

Ohio Consumer Sales Practices Act:  Mortgage loan file does not contain documentation of the analysis of the borrower's reasonable tangible net benefit.

Ohio Consumer Sales Practices Act: Mortgage loan file does not contain signed documentation of the analysis of the borrower's reasonable tangible net benefit.

Reviewer Comment (2023-11-28): TNB provided. Buyer Comment (2023-11-27): TNB Dislosure

11/28/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220781340

[Redact]

[Redact]

29696127

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements.

Verification appraisal was delivered to borrower was provided however no waiver.

Reviewer Comment (2023-11-20): Original appraisal provided. Buyer Comment (2023-11-17): Original appraisal Reviewer Comment (2023-11-09): Provide the original appraisal. The delivery was on [Redact] and the appraisal in file was singed on [Redact]. Buyer Comment (2023-11-09): Please re-review  and advise why a waiver would be required. Email on D0081 shows appraisal was delivered on [Redact] and closing did not occur until [Redact].

11/20/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Non QM

Non QM

No

220781342

[Redact]

[Redact]

29696129

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Transfer Tax Fees amount was disclosed as [Redact] on Final LE and [Redact] in Final CD. Cure provided was [Redact] which was insufficient by [Redact] to cover the required [Redact].

Reviewer Comment (2023-11-20): [Redact] received post CD,LOX,Copy of refund check and proof of mailing. Buyer Comment (2023-11-17): LOE, PCCD and refund check

11/20/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

D

B

C

B

A

A

Non QM

Non QM

Yes

220781342

[Redact]

[Redact]

29696130

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-10): File not going to FNMA; lender acknowledged non material EV2

11/10/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

Yes

220781342

[Redact]

[Redact]

29696132

Credit

Credit

Credit Documentation

Guideline

The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.

VOR/ VOR document is missing .

Reviewer Comment (2023-11-28): Verification till Sold property verified from Credit Report and as per guideline "Borrower(s) who sold a primary residence within the past six (6) months and are currently residing rent-free until subject transaction closes are not considered living rent-free". LOX confirm borrower staying  with Friend Buyer Comment (2023-11-27): Per guidelines pg 62 " Borrower(s) who sold a primary residence within the past six (6) months and are currently residing rent-free until subject transaction closes are not considered living rent-free." Please clear Reviewer Comment (2023-11-20): Require Letter of Explanation From borrower's Friend to confirm Borrower living rent free unit the transaction Closed. Exception Remains Buyer Comment (2023-11-17): Per lender: Borrower's primary was sold in [Redact], perfect mortgage history reflected on credit bureau. Borrower lived with a friend until construction of new primary residence was completed. Reviewer Comment (2023-11-16): Received Mortgage Statement confirm [Redact] Payment and closing statement shows property sold in [Redact]. Provided Proof of Housing history from [Redact]to [Redact] and Prior to [Redact] to confirm 12 Months housing history. Exception Remains Buyer Comment (2023-11-15): settlement statement for sale of departing res and mtg statement

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

220781342

[Redact]

[Redact]

29696133

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Purchase Agreement / Sales Contract not provided

Purchase agreement document is missing .

Reviewer Comment (2023-11-16): Received Purchase contract and Sales addendum. Exception cleared Buyer Comment (2023-11-15): contract

11/16/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

220781342

[Redact]

[Redact]

29696134

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Evidence of Access to Funds for the account #[Redact].

Reviewer Comment (2023-11-20): Account # [Redact] has been removed for qualification, borrower have sufficient funds without account #[Redact] to cover the cash to close Requirement. Exception Cleared Buyer Comment (2023-11-17): Per Lender : The Borrower has enough funds in the [Redact] account (Borrower's name only) to cover reserves and funds to close. Access letter should not be needed as there is enough in their personal account to cover

11/20/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

220781342

[Redact]

[Redact]

29696135

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Payment shock max 300 when DTI is equal to or less than 45. Payment shock 322.11. Comp factors: Owns current primary for 15 years, no lates on mortgage, excellent credit.

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

91 months vs 6

SitusAMC,Originator

Reviewer Comment (2023-11-10): Lender approved to waive with compensating factors. 15 year homeowner, excellent credit, no mortgage lates and 90 months reserves vs 6.

11/10/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

220781343

[Redact]

[Redact]

29696161

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Title Evidence: ___

Reviewer Comment (2023-12-07): Cleared

12/07/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

N/A

N/A

No

220781343

[Redact]

[Redact]

29696162

Credit

Missing Document

General

Missing Document

Missing Document: Account Statements - Business not provided

For [Redact], missing business bank statement ending in #[Redact] dated [Redact].

Reviewer Comment (2023-11-27): [Redact] [Redact]Statement received. Exception Cleared Buyer Comment (2023-11-24): 2096

11/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

N/A

N/A

No

220781343

[Redact]

[Redact]

29696163

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The CPA letter is missing in the loan file for all businesses.

Reviewer Comment (2023-11-27): CPA Letter received for [Redact] confirm Sole Owner. Additional Business bank statement for A/C # [Redact] for [Redact] provided. Exception Cleared Buyer Comment (2023-11-24): CPA letter and statement Reviewer Comment (2023-11-21): Received CPA For [Redact] confirming Sole ownership. Require CPA for [Redact]. Additional Require [Redact] Business bank statement for A/c # [Redact] as it is missing in file.  Exception Remains Buyer Comment (2023-11-20): CPA

11/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

N/A

N/A

No

220781343

[Redact]

[Redact]

29696164

Credit

Income

Income Error

Income

The Total Bank Statement Period months provided is less than the required # of Bank Statements required.

-

For [Redact] missing business bank statement ending in #[Redact] for [Redact].

Reviewer Comment (2023-11-27): Business bank statement for A/C # [Redact] for [Redact] provided. Exception Cleared Buyer Comment (2023-11-24): statement

11/27/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

N/A

N/A

No

220781343

[Redact]

[Redact]

29696165

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide lease agreement, cancelled checks and VOR for current housing history.

Reviewer Comment (2023-11-21): VOR was provided. Buyer Comment (2023-11-20): Lease agreement and Cancelled Checks are not required when VOR is completed by property management company. Please see attached VOR

11/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

N/A

N/A

No

220781343

[Redact]

[Redact]

29696166

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception for the property being listed for sale, is off market since [Redact] is listed for rent., Compensating Factors: FICO 731, good DTI with good credit.

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

15.56% vs 45%

SitusAMC,Originator

Reviewer Comment (2023-11-09): Lender approved exception to waive with compensating factors.

11/09/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

N/A

N/A

No

220781345

[Redact]

[Redact]

29696156

Credit

Credit

Credit Documentation

Guideline

The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.

Require verification of rent for borrower's primary residence.

Reviewer Comment (2023-11-29): VOR provided Buyer Comment (2023-11-27): VOR

11/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

Non QM

N/A

No

220781345

[Redact]

[Redact]

29696157

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Hazard Insurance verification missing for REO '[Redact]'.

Reviewer Comment (2023-11-29): Expense was included in [Redact]. Buyer Comment (2023-11-28): comment from lender: Please see attached Executive Summary Income section - expense for [Redact] was already included in the [Redact] Statement expense factor.

11/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

Non QM

N/A

No

220781345

[Redact]

[Redact]

29696158

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Require CPA letter for business '[Redact]' to verify business ownership history.

Reviewer Comment (2023-11-29): Bylaws provided. Buyer Comment (2023-11-27): Per lender: Bylaws show ownership since 2018 - uploaded documents.

11/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

Non QM

N/A

No

220781345

[Redact]

[Redact]

29696160

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower has not owned a property for 12 months. Oldest owned home was purchase [Redact]. Exception for 10 months experience - Rate and term. Comp factors: 724 Fico, ample reserves, full doc/low DTI, and rate and term.

Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-11-24): Lender exception provided. Compensating factors: 46.66 months reserves and DTI of 25.3%.

11/24/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

A

A

Non QM

N/A

No

220781346

[Redact]

[Redact]

29696167

Compliance

Compliance

Federal Compliance

Missing, Incorrect, or Incomplete HUD-1

Missing Final HUD-1:  Title Co. Closing Statement Used For Fee Testing Non Material

Missing Final HUD-1: Title Company Closing Statement used for any applicable Federal, State or Local compliance testing.  Investment occupancy with business purpose cert in file. Business purpose loans exempt from RESPA HUD-1 requirement. EV2 informational finding to indicate which document was used to source fees for any applicable testing.

The file was missing fully executed HUD1 closing statement.

Buyer Comment (2023-11-27): Lender acknowledged non material EV2

11/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

N/A

N/A

No

220781346

[Redact]

[Redact]

29696169

Compliance

Compliance

Federal Compliance

GSE

FNMA Points and Fees

FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2023). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2023) (an overage of [Redact] or [Redact]).

Points and fees of 8.75076% exceeds allowable amount of 5%.  Points and fees in the amount of [Redact] exceeds allowable amount of [Redact], reflecting in an overage of [Redact].

Buyer Comment (2023-11-27): File not going to FNMA; lender acknowledged non material EV2

11/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

N/A

N/A

Yes

220781347

[Redact]

[Redact]

29696170

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Reviewer Comment (2023-11-29): [Redact] accepts and waives Buyer Comment (2023-11-27): FNMA points condition is being acknowledged. Please review seller submitted PCCD and LOE correcting assumption section

11/29/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220781348

[Redact]

[Redact]

29696175

Credit

Missing Document

General

Missing Document

Missing Document: 1007 Rent Comparison Schedule not provided

1007 missing in file

The qualifying DTI on the loan is at least 10% less than the guideline maximum. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

37 vs 50

SitusAMC,Originator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-12-11): Exception re-stated and approved to waive by investor. Borrower was qualified with full doc rather than rental income. A 1073 was provided and the borrower has [Redact] in reserves or 42 months. Buyer Comment (2023-12-11): Please see attached exception from [Redact].

12/13/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

A

A

Non QM

N/A

No

220781348

[Redact]

[Redact]

29696178

Credit

Guideline

Guideline Issue

Guideline

A Lender Client Waiver was used to approve the loan.

Subject is a condo conversion, by management exception only.  Exception approved [Redact], DTI 13.968/36.509, 50% max DTI with LTV is equal to or less than 80%. Fico 763 and min Fico is 620.

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

37 vs 50

SitusAMC,Originator

Reviewer Comment (2023-11-22): Approved to waive with compensating factors; DTI 13.968/36.509, 50% max DTI with LTV is equal to or less than 80%. Fico 763 and min Fico is 620.

11/22/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

A

A

Non QM

N/A

No

220781348

[Redact]

[Redact]

29696179

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

1007 missing in file

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

SitusAMC

Reviewer Comment (2023-12-11): Borrower was qualified with full doc rather than rental income. A 1073 was provided and the borrower has [Redact] in reserves or 42 months. Reviewer Comment (2023-12-11): [Redact] approved to waive with compensating factors.

12/11/2023

2

B

B

B

B

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

A

A

Non QM

N/A

No

220781349

[Redact]

[Redact]

29696180

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Verification of rent is required to verify the current housing history.

Reviewer Comment (2023-12-01): VOR Received from [Redact] till [Redact]. Exception Cleared Buyer Comment (2023-11-30): VOR

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220781349

[Redact]

[Redact]

29696182

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Require CPA letter or Third Party Verification for business '[Redact]'.

Reviewer Comment (2023-12-01): Business license received. Exception cleared Buyer Comment (2023-11-30): license

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220781349

[Redact]

[Redact]

29696184

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Reviewer Comment (2023-11-27): Cleared based on Appraisal Transfer Letter in file obtained prior to closing. Buyer Comment (2023-11-27): Please advise which Appraisal rule causing this condition.

11/27/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220781349

[Redact]

[Redact]

29696185

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

The loan was approved with an originator designation of Non QM.but the required signed and dated tax returns for 2022 and third party verification of employment were not present in the loan file casuing the loan to waterfall through QM testing.

Reviewer Comment (2023-12-04): Documentation provided Buyer Comment (2023-11-30): transcripts Buyer Comment (2023-11-30): license Reviewer Comment (2023-11-28): Yes, third party verification and 22 returns. Buyer Comment (2023-11-27): What are we needing to cure this? Third party verification & 2022  tax returns?

12/04/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

220781349

[Redact]

[Redact]

29696186

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Schedule C Test

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current Sole Proprietorship status using reasonably reliable third-party records.

The loan was approved with a originator loan designation of Non QM but the required Verification of Rent required per Investor guidelines was not provided causing the loan to waterfall through the QM testing.

Reviewer Comment (2023-12-04): Documentation provided. Buyer Comment (2023-11-30): license

12/04/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220781349

[Redact]

[Redact]

29696187

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR failure due to insufficeint income documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-12-04): Documentation provided.

12/04/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220781349

[Redact]

[Redact]

29696189

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - Schedule C

Ability to Repay (Dodd-Frank 2014): Unable to verify Sole Proprietorship income using reasonably reliable third-party records.

The loan was approved with an originator loan designation of Non QM, but the required third party vreification of employment was not provided causing the loan to waterfall through the QM testing.

Reviewer Comment (2023-12-04): Documentation provided. Buyer Comment (2023-11-30): license

12/04/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220781350

[Redact]

[Redact]

29696191

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-30): File not going to FNMA; acknowledged non material

11/30/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

220781351

[Redact]

[Redact]

29696196

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Coverage Shortfall of [Redact], Hazard Insurance Coverage Amount is insufficient

Reviewer Comment (2023-11-30): Replacement cost provided Buyer Comment (2023-11-30): Documentation and Email from broker regarding max insurance allowable.

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

B

A

A

A

Non QM

Non QM

No

220781351

[Redact]

[Redact]

29696197

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Appriasal was not provided to the borrower within 3 business days of closing.

Reviewer Comment (2023-12-05): Assignment in file. Buyer Comment (2023-12-04): Please advise. The issue under review by [Redact] is not the compliance issue stated in this condition. The condition if for delivery of the appraisal which was provided. If there is another issue please clear this reset a new condition. Buyer Comment (2023-12-01): Please advise of further review Reviewer Comment (2023-11-30): Issue is a result of appraisal not in lender name but under assignment. Being further reviewed. Buyer Comment (2023-11-28): Evidence of appraisal delivery [Redact]

12/05/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

A

C

A

B

A

A

A

Non QM

Non QM

No

220781352

[Redact]

[Redact]

29696199

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower within 3 days of closing was not provided.  Waiver not provided.

Reviewer Comment (2023-11-30): Delivery provided. Buyer Comment (2023-11-29): Borrower copied on email with appraisal attached [Redact]

11/30/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Purchase

B

A

A

A

B

A

A

A

Non QM

N/A

No

220781353

[Redact]

[Redact]

29696205

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and fees of 3.31243% exceeds allowable amount of 3%.  Points and fees in the amount of [Redact] on the final CD exceeds allowable total of [Redact].

Buyer Comment (2023-11-23): Acknowledged as non-material.

11/23/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220781353

[Redact]

[Redact]

29696207

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2023-11-30): Appraisal delivery provided. Buyer Comment (2023-11-29): Proof of delivery for appraisal docs

11/30/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220781353

[Redact]

[Redact]

29696208

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

HPML requirements are not met. The APR dicslosed on the Final CD of [Redact] exceeds threshould of [Redact].

Reviewer Comment (2023-11-30): Appraisal delivery provided. Buyer Comment (2023-11-29): Proof of appraisal delivery uploaded.

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220781353

[Redact]

[Redact]

29696209

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation. (Type:Primary/[Redact])

Reviewer Comment (2023-11-30): Delivery provided Buyer Comment (2023-11-29): Proof of appraisal delivery uploaded.

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220781355

[Redact]

[Redact]

29696220

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

The coverage must provide for claims to be settled on a replacement cost basis. Missing ERC.

Reviewer Comment (2023-12-07): Coverage is sufficient. Buyer Comment (2023-12-05): RCE Reviewer Comment (2023-11-21): The total estimate of cost-new according to the appraisal is [Redact] of that is [Redact] - the coverage of [Redact] = a shortage of [Redact]. Please provide the replacement cost. Buyer Comment (2023-11-20): Please see page 31 of the guidelines.80% of the insurable value of the improvement on a replacement cost basis. Reviewer Comment (2023-11-17): Page 32 of the guideline, please point to where it says we can use the dwelling coverage as long as it covers the loan amount. Buyer Comment (2023-11-16): Per lender: [Redact] uses dwelling coverage as long as it covers the loan amount. Loan amount is [Redact] and dwelling coverage is [Redact] Reviewer Comment (2023-11-10): Please provide the coverage calculations used by the lender and insurer. Buyer Comment (2023-11-09): Per Lender: The insurance policy is sufficient and our guidelines do not require coverage on a replacement cost basis

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220781361

[Redact]

[Redact]

29696236

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

Property has 5 or more units and/or mixed-use.  This is considered a commercial property type which requires a second commercial appraisal completed by a different appraiser to meet securitization standards.

Reviewer Comment (2023-12-05): Received and associated subject's Secondary Valuation for loan scrutiny. Exception cleared. Buyer Comment (2023-12-03): Appraisal Reviewer Comment (2023-11-02): We still need a copy of  second commercial appraisal completed by a different appraiser, BPO is also not present on the loan. Exception Remains. Buyer Comment (2023-11-01): Per lender: per [Redact] guidelines, no second appraisal is required if have BPO and commercial appraiser and there is not a large discrepancy between the values. Please Advise

12/05/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Rate/Term

D

B

C

B

D

A

N/A

No

220781361

[Redact]

[Redact]

29696237

Credit

Credit

Credit Documentation

Credit

Missing Document: OFAC not provided

Please provide a copy of the background check with the OFAC search for [Redact] as he is the guarantor on the loan.

Reviewer Comment (2023-12-01): Received Fraud Report with OFAC search. Exception Cleared Buyer Comment (2023-11-30): OFAC is on page 8 of Fraud Report and we do not require a background check Reviewer Comment (2023-11-02): We still need a copy of the background check with the OFAC search for [Redact] as he is the guarantor on the loan. Buyer Comment (2023-11-01): Per  Lender: per [Redact] guidelines, a background check is not required. We will continue to retrieve the OFAC search with a Fraud Report on [Redact]

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

D

B

C

B

D

A

N/A

No

220781361

[Redact]

[Redact]

29696238

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Please provide a copy of the Fraud Report for [Redact] as he is the guarantor on the loan.

Reviewer Comment (2023-11-02): Fraud report provided. Buyer Comment (2023-11-02): Fraud Guard

11/02/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

D

B

C

B

D

A

N/A

No

220781361

[Redact]

[Redact]

29696239

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Approved 75% LTV on R/T Refinance for 7-Unit MU.(Min DSCR: 1.10)

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

SitusAMC

Reviewer Comment (2023-10-31): Lender exception provided on the bid tape. Reviewer Comment (2023-10-30): Please provide exception approval. Buyer Comment (2023-10-30): This is the exception, this should be cleared, please advise Buyer Comment (2023-10-30): What is required for this?

10/31/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Rate/Term

D

B

C

B

D

A

N/A

No

220781370

[Redact]

[Redact]

29696267

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide twelve month payment history for current primary residence from [Redact] and [Redact], including up to the month prior to closing.

Reviewer Comment (2023-11-28): History provided. Buyer Comment (2023-11-24): Credit supplement

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220781371

[Redact]

[Redact]

29696270

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Calculated loan to value percentage of 66.95000% exceeds Guideline loan to value percentage of 65.75000% Review determined 65.75% based on stacking points. 65% of value ([Redact] x 65% = [Redact] plus + the points charged of [Redact] = [Redact] against value of [Redact] = max LTV of 65. 75%.

Reviewer Comment (2023-11-24): Stacking allowed. Buyer Comment (2023-11-21): Lender's comments: Both points and broker fees, not just discount fees are able to be included in stacking.

11/24/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220781373

[Redact]

[Redact]

29696275

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception to all Borrower resides rent free with [Redact]. Comp factors: 49% LTV, Favorable DSCR, Approved by [Redact]

The qualifying DSCR on the loan is greater than the guideline minimum. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The DSCR of 1.34 is greater than the minimum required DSCR of 1.00

Originator SitusAMC

Reviewer Comment (2023-11-20): Approved to waive with compensating factors: 49% LTV, Favorable DSCR, excellent reserves.

11/20/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220781376

[Redact]

[Redact]

29696278

Credit

Guideline

Guideline Issue

Guideline

Housing  payment lates are present within 24 months.

Approved exception to allow 1x60 day mortgage when vs guideline max of 1x30. Compensating Factor: Favorable DSCR. Ample reserves

The qualifying DSCR on the loan is greater than the guideline minimum. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The DSCR of 1.45 is greater than the minimum required DSCR of 1.00.

Originator SitusAMC

Reviewer Comment (2023-11-15): Approved to waive with compensating factors. Compensating Factor: Favorable DSCR. Ample reserves.

11/15/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220781377

[Redact]

[Redact]

29696282

Credit

Guideline

Guideline Issue

Guideline

Verification of housing pay history is required.

Require VOM/VOR for the borrower current residence '[Redact]' per guide.

Reviewer Comment (2023-12-05): VOR confirmed 24 months history ox30. Reviewer Comment (2023-11-17): The VOR shows the borrower lived there from [Redact] to [Redact]. Please have VOR corrected. Buyer Comment (2023-11-15): Please see attached VOR from property management company.

12/05/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220781380

[Redact]

[Redact]

29696289

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

Require consecutive two months bank statements for Checking Acc #[Redact] & Savings Acc [Redact].

Reviewer Comment (2023-12-07): Statements provided Buyer Comment (2023-12-05): Checking Account #[Redact] [Redact]-[Redact] Reviewer Comment (2023-11-24): The additional statement for the cking acct [Redact] was provided. Provide another statement for the savings acct [Redact]. Buyer Comment (2023-11-21): Additional statement provided.

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220781380

[Redact]

[Redact]

29696291

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower appears to be a first time investor, as no mortgages are listed on the fraud report or credit report or disclosed on the 1003.  First time investor requires the borrower to own primary residence for 12 months during the last 2 years and the borrower currently rents. Provide documentation to support the borrower is not a first time investor or a lender exception.

Reviewer Comment (2023-11-24): Prior ownership proof provided. Buyer Comment (2023-11-21): Email confirming owning property in his home country and utility bill. Application was completed incorrectly stating rented primary.

11/24/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220781380

[Redact]

[Redact]

29696292

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Approval lender exception for vesting in individual name. FN  borrowers to vest in domestic entity, exception to vest in individual name.  Comp factors, Fico score 724 vs 680, DSCR 1.27 vs 1.00 and low LTV=44.75%.

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

SitusAMC

Reviewer Comment (2023-11-14): Approved exception to waive with compensating factors: Comp factors, Fico score 724 vs 680, DSCR 1.27 vs 1.00 and low LTV=44.75%.

11/14/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220781382

[Redact]

[Redact]

29696294

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

No housing expense. The borrower lives with boyfriend.

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

SitusAMC

Reviewer Comment (2023-11-15): Lender exception provided. Compensating factors provided by lender: Homevestor, Repeat Client, Seasoned Investor, LTV of 56.25%, 24months reserves.

11/15/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

220781386

[Redact]

[Redact]

29696308

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Missing Final 1003

Require Final 1003 signed and dated by borrower

Reviewer Comment (2023-11-30): Final 1003 provided. Buyer Comment (2023-11-28): 1003

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696309

Credit

Guideline

Guideline Issue

Guideline

Verification of housing pay history is required.

Missing VOR, copy of lease agrrement and cancelled checks.

Reviewer Comment (2023-11-30): VOR provided. Buyer Comment (2023-11-28): Please see attached VOR

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696310

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: 1-4 Family Rider was not provided.

Require 1-4 Family Rider signed and dated by borrower

Reviewer Comment (2023-11-30): Signed Rider provided. Buyer Comment (2023-11-28): 1-4 Family Rider

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696311

Compliance

Loan Package Documentation

Closing / Title

Loan Package Documentation

(Missing Doc) PUD Rider was not provided.

Require PUD Rider signed and dated by borrower

Reviewer Comment (2023-11-30): PUD rider provided. Buyer Comment (2023-11-28): PUD Rider

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696312

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Require Guaranty Agreement document signed and dated by borrower

Reviewer Comment (2023-11-30): Guaranty agreement provided. Buyer Comment (2023-11-28): Guaranty Agreement

11/30/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696313

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Loan has a Prepayment Penalty and the Prepayment Penalty Rider is missing

Require Prepayment Addendum document signed and dated by borrower

Reviewer Comment (2023-11-30): PPP addendum provided. Buyer Comment (2023-11-28): Prepayment Adden

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696314

Credit

Collateral

Missing/Incorrect

Collateral

Collateral report shows issues with Note.

Require Note document signed and dated by borrower

Reviewer Comment (2023-11-30): Signed note provided. Buyer Comment (2023-11-28): Note

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696315

Credit

Loan Package Documentation

Closing / Title

Collateral

Security Instrument is not signed by borrower(s).

Require Security Instrument document signed and dated by borrower

Reviewer Comment (2023-11-30): Signed Security Instrument provided. Buyer Comment (2023-11-28): Security Instrument

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781386

[Redact]

[Redact]

29696317

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing fully executed  HUD1, or closing statement.

Reviewer Comment (2023-11-30): Signed Settlement Statement provided. Buyer Comment (2023-11-28): HUD1

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220781388

[Redact]

[Redact]

29696322

Credit

Missing Document

General

Missing Document

Missing Document: HUD/CD not provided

Signed HUD/CD missing for subject property "[Redact]", provided in the file is unsigned copy.

Reviewer Comment (2023-12-04): Final settlement statement provided. Buyer Comment (2023-11-30): final settlement statement

12/04/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220781388

[Redact]

[Redact]

29696324

Credit

Guideline

Guideline Issue

Guideline

Rural property type is not permitted per Guidelines.

Exception approved to allow rural property. Comp factors: amenities are nearby and employment is stable, 19 years at address and strong reserves.

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

78 vs 6

SitusAMC,Originator

Reviewer Comment (2023-11-27): Approved to waive with compensating factors: amenities are nearby and employment is stable, 19 years at address and strong reserves.

11/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220781389

[Redact]

[Redact]

29696328

Credit

Guideline

Guideline Issue

Guideline

Verification of housing pay history is required.

Required VOM / Credit supplement to verify mortgage payment for [Redact] & [Redact] from [Redact] #[Redact] for Primary Residence '[Redact]' per guide. payment history verified from [Redact] - [Redact].

Reviewer Comment (2023-11-24): Credit supplement provided. Buyer Comment (2023-11-21): Credit Supp

11/24/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220789617

[Redact]

[Redact]

[Redact]

29700403

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

B

A

B

A

A

A

A

Non QM

Non QM

No

220789617

[Redact]

[Redact]

[Redact]

29700404

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

B

A

B

A

A

A

A

Non QM

Non QM

No

220789617

[Redact]

[Redact]

[Redact]

30181282

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The borrower has both personal and business assets for their business. The borrower's personal account is co-mingled with the business - Having a personal account that is co-mingled, with an account owner that is not on our loan is ineligible.  Lender exception was not provided.  Missing LOE verifying relationship between the borrower and the other party on the bank statements.  Detailed analysis of deposits considered for qualification. Income worksheet provided for exception review did not contain analysis of individual deposits.

The representative FICO score exceeds the guideline minimum by at least 40 points. Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrower's monthly reserves have been verified and exceed the guideline required amount by the equivalent of 4 months PITIA or more. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

FICO of 777 which is 117 above the minimum fico of 660 Reserves of [Redact] ([Redact]- funds to close [Redact]) when only [Redact] is required (Subject [Redact]*12 other [Redact]*6other  [Redact]*6 other[Redact]*6) 3.6X times is required.

SitusAMC,Originator Pre-Close,Aggregator SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC SitusAMC

Reviewer Comment (2024-04-30): Client elected to waive the condition with the following Compensating Factors: *             FICO of 777 which is 117 above the minimum fico of 660 *             Reserves of [Redact] ([Redact]- funds to close [Redact]) when only [Redact] is required (Subject [Redact]*12 other [Redact]*6other  [Redact]*6 other[Redact]*6) 3.6X times is required. *             Credit Dept: 0  revolving credit utilization. Mortgage history to 2016 all paid as agreed

04/30/2024

2

B

B

B

B

B

[Redact]

Primary

Purchase

A

B

A

B

A

A

A

A

Non QM

Non QM

No

220791204

[Redact]

[Redact]

[Redact]

29704424

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-29): Collateral delivered on [Redact] via [Redact] Tracking # [Redact].

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220791204

[Redact]

[Redact]

[Redact]

29704425

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-29): Collateral delivered on [Redact] via [Redact] Tracking # [Redact].

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220791204

[Redact]

[Redact]

[Redact]

29852512

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

File is missing a copy of Security Instrument for Subject property.

Reviewer Comment (2024-01-29): Received security instrument with rider. Exception Cleared. Seller Comment (2024-01-29): Please see attached mortgage.

01/29/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220791204

[Redact]

[Redact]

[Redact]

29853378

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

File is missing a copy of Guarantor Agreement.

Reviewer Comment (2024-01-29): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-29): Guarantor Agreement attached.

01/29/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220791539

[Redact]

[Redact]

[Redact]

29705944

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-17): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-16): (Rate Lock) Note tracking #[Redact] via [Redact]. Thank you.

01/17/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

Exempt from ATR

Exempt from ATR

No

220791539

[Redact]

[Redact]

[Redact]

29705945

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-17): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-16): (Rate Lock) Note tracking #[Redact] via [Redact]. Thank you.

01/17/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

Exempt from ATR

Exempt from ATR

No

220791539

[Redact]

[Redact]

[Redact]

29787494

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

File is missing a copy of Tax Verification for REO property [Redact].

Reviewer Comment (2024-01-18): Received Tax Certificate. Exception Cleared. Seller Comment (2024-01-18): (Rate Lock) Taxes for [Redact]

01/18/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

Exempt from ATR

Exempt from ATR

No

220791566

[Redact]

[Redact]

[Redact]

29706005

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): Collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220791566

[Redact]

[Redact]

[Redact]

29706006

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): Collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220791566

[Redact]

[Redact]

[Redact]

30170089

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

The file was missing a copy of the Guarantor Agreement.

Reviewer Comment (2024-03-15): Document provided. Exception cleared. Seller Comment (2024-03-14): Please see attached Guaranty Agreement.

03/15/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220791566

[Redact]

[Redact]

[Redact]

30170173

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

The file was missing a copy of the certificate of good standing.

Reviewer Comment (2024-03-15): Document provided. Exception cleared. Seller Comment (2024-03-14): Please see attached Cert of Good Standing.

03/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

220793467

[Redact]

[Redact]

[Redact]

29706277

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220793467

[Redact]

[Redact]

[Redact]

29706278

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-30): Waived on Rate Lock: Collateral cleared by Custodian

01/30/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220795124

[Redact]

[Redact]

[Redact]

29708493

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-16): The collateral was delivered [Redact] at 9:04am via [Redact] trk#[Redact].

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220795124

[Redact]

[Redact]

[Redact]

29708494

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-16): The collateral was delivered [Redact] at 9:04am via [Redact] trk#[Redact].

01/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220795212

[Redact]

[Redact]

29709021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Missing Final 1003

Credit application provided is blank.

Reviewer Comment (2023-10-25): Received completed/signed credit application. Buyer Comment (2023-10-25): I believe there is a document transmission issue. Application was a fillable PDF. Attached are screenshots of original application. Reviewer Comment (2023-10-22): Received same credit application as in original file.  The entire document is blank, except for the guarantor signature. Buyer Comment (2023-10-20): loan application

10/25/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220795212

[Redact]

[Redact]

29709023

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Short term rental require DSCR of 1.25 per guidelines.

Reviewer Comment (2023-11-03): Per updated approval in file, qualified as leased short term rental.  DSCR of 1.25 meets guideline requirement. Buyer Comment (2023-11-02): This was underwritten as a leased short term rental with a monthly income of [Redact] ([Redact]/12 * 80%)  and housing expenses of [Redact] (P&I) [Redact] (HOI) [Redact] (taxes) [Redact] (HOA) totaling [Redact][Redact]/[Redact] equals a DSCR of 1.25

11/03/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220795212

[Redact]

[Redact]

29709024

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Per approval, transaction is a rate/term refund.  Per guidelines, evidence of rehab costs paid outside of closing are required and were not provided.

Reviewer Comment (2023-10-22): Received paid invoices. Buyer Comment (2023-10-20): rehab costs

10/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220795212

[Redact]

[Redact]

29709025

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

File is missing blanket project policy for subject property.  File contains HO6 policy only.  Document referenced as HOA master insurance is only general liability, no building coverage is listed.

Borrower's Experience/Track Record Seasoned Borrower/Investor whose experience exceeds 10 completed projects. The representative FICO score exceeds the guideline minimum by at least 40 points.

Borrower's Experience/Track Record. The borrower has: 19 Years of Experience. Currently holds 13 Properties and has Completed 14 Properties.

Originator SitusAMC SitusAMC

Reviewer Comment (2023-11-08): Lender granted exception approval in loan file. Buyer Comment (2023-11-06): Approved lender exception Reviewer Comment (2023-10-30): The document received is an HOI policy listed in the entity name, referencing multiple units.  This condition is asking for the HOA master policy as this is a condominium.  The HOA budget provided indicates there is a master policy on the units. Buyer Comment (2023-10-27): HOI

11/08/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220795214

[Redact]

[Redact]

29709015

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception request in file has been approved for borrower owns 5 of the 6 units. He completed rehab on all properties and using 4 of then as STR. One has been sold and the other is in process of being sold. this is a short term rental and all other factors meet. Comp factors 718 FICO, 1.31 DSCR.

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

SitusAMC

Reviewer Comment (2023-10-19): Waived with compensating factors per lender approval.

10/19/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

220795214

[Redact]

[Redact]

29709017

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  ___ is less than Cash From Borrower ___.

Assets are required to cover cash to close requirement of [Redact].

Reviewer Comment (2023-10-30): Per client, the guideline section regarding assets being listed on the loan application was an error. Buyer Comment (2023-10-27): The guidelines provided for this set of loans had language regarding assets being verified on the loan application that should have been removed.   All these loans were underwritten with no asset verification required.  The guidelines make no mention of asset verification except for this one line which itself is not proof of assets.  Please clear.

10/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

220795214

[Redact]

[Redact]

29709018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception request is in file for  HOI Policy explicitly states it is for use of short term rental/vacation rental. Need an exception to remove the differentiation between commercial and personal as the policy itself says it is for short term rental/vacation rentals. All coverage amounts will meet criteria.

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

SitusAMC

Reviewer Comment (2023-10-19): Waived with compensating factors per lender approval.

10/19/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

220795214

[Redact]

[Redact]

29709019

Credit

Credit

Credit Documentation

Credit

Missing Document: OFAC not provided

Missing OFAC for borrowing entity [Redact].

Seasoned Borrower/Investor whose experience exceeds 10 completed projects. The representative FICO score exceeds the guideline minimum by at least 40 points.

SitusAMC SitusAMC

Reviewer Comment (2023-10-22): Waived with compensating factors per client request. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/22/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

220795214

[Redact]

[Redact]

29709020

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Per approval, transaction is a rate/term refund.  Per guidelines, evidence of rehab costs paid outside of closing are required and were not provided.

Reviewer Comment (2023-10-22): Received Buyer Comment (2023-10-20): rehab costs

10/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

220795222

[Redact]

[Redact]

29709075

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Missing LDP/GSA for seller and real estate agent.

Seasoned Borrower/Investor whose experience exceeds 10 completed projects.

SitusAMC

Reviewer Comment (2023-10-21): Waived with compensating factors per lender approval. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/21/2023

2

C

B

C

B

C

B

C

B

D

B

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220795222

[Redact]

[Redact]

29709076

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  ___ is less than Cash From Borrower ___.

File contains one page printout, reflecting funds in an investment account; however, it does not identify who it belongs to and it does not cover one month as required by guidelines.

Reviewer Comment (2023-10-30): Per client, the guideline section regarding assets being listed on the loan application was an error. Buyer Comment (2023-10-27): The guidelines provided for this set of loans had language regarding assets being verified on the loan application that should have been removed.   All these loans were underwritten with no asset verification required.  The guidelines make no mention of asset verification except for this one line which itself is not proof of assets.  Please clear. Reviewer Comment (2023-10-25): The guidelines do state that the loan application must indicate that the borrowers/guarantors have adequate assets/liquidity for the down payment and closing costs; however, the credit application in the file does not reflect any assets are available.  Please provide loan application reflecting adequate assets/liquidity. Buyer Comment (2023-10-25): Guidelines only state that the loan application must document assets needed.  There are no other guidelines around assets.  Please clear.

10/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

B

D

B

A

A

N/A

No

220795231

[Redact]

[Redact]

29709141

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2023-10-21): Received final title

10/21/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220795231

[Redact]

[Redact]

29709142

Credit

Missing Document

General

Missing Document

Missing Document: HUD/CD not provided

Per approval, transaction is a rate/term refund transaction and prior purchase HUD was not provided as required.

Reviewer Comment (2023-10-21): Received Buyer Comment (2023-10-20): purchase hud

10/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220795231

[Redact]

[Redact]

29709143

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Per approval, transaction is a rate/term refund.  Per guidelines, evidence of rehab costs paid outside of closing are required and were not provided.  Further, all repairs must have been made within prior 180 days and evidence of this was not provided.  Subject property was purchased 1 year prior to our transaction.

Reviewer Comment (2023-11-02): Per guidelines, if property construction/rehabilitation was part of purchase money loan, evidence rehab costs paid outside of closing not required. Buyer Comment (2023-11-01): Repairs must have been completed in the last 180 days.  Doesn't matter when they purchased it.  They financed the rehab and only recouped their original downpayment and closing costs.  Purchase price was [Redact].  Total loan amount was [Redact] of which [Redact] was for rehab.  Therefore base loan amount was [Redact].  That is [Redact] for downpayment and purchase hud shows closing costs of of [Redact].  Between the [Redact] downpayment and the [Redact] closing costs that equals [Redact] and they got [Redact] back so this is a rate and term refund.

11/02/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220795231

[Redact]

[Redact]

29709144

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Missing LDP/GSA for appraiser.

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

SitusAMC

Reviewer Comment (2023-10-21): Waived with compensating factors per lender approval. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/21/2023

2

C

B

C

B

C

B

C

B

D

B

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220795231

[Redact]

[Redact]

29709145

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Lien(s) negatively impacting title

Per title commitment provided, Item 25 indicates there are 5 open judgments; however, no further information was provided.  Please provide evidence of clear title.

Reviewer Comment (2023-10-21): Received clear final title Buyer Comment (2023-10-20): Title policy

10/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

D

B

A

A

N/A

No

220795241

[Redact]

[Redact]

29709175

Credit

Credit

Credit Documentation

Credit

Missing Document: OFAC not provided

Missing OFAC search for the borrowing entity, full background check is not in the file.

Borrower's Experience/Track Record

Borrower's Experience/Track Record. The borrower has 20 Years of Experience.

SitusAMC,Originator

Reviewer Comment (2023-10-22): Waived with compensating factors per client request. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/22/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220795241

[Redact]

[Redact]

29709176

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing LDP/GSA search for appraiser.

Borrower's Experience/Track Record

Borrower's Experience/Track Record. The borrower has 20 Years of Experience.

SitusAMC,Originator

Reviewer Comment (2023-10-22): Waived with compensating factors per client request. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/22/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

220795244

[Redact]

[Redact]

29709186

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Operating agreement for borrowing business entity is missing from the file.

Reviewer Comment (2023-10-21): Received Buyer Comment (2023-10-20): OA

10/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709187

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Verification of Identification not provided

Verification of Identification is missing from the file

Reviewer Comment (2023-10-25): Received ID Buyer Comment (2023-10-25): ID Reviewer Comment (2023-10-21): Photo ID not received.  Please try resending. Buyer Comment (2023-10-20): photo id

10/25/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709188

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Missing Final 1003

Signed and dated complete final loan application is missing from the file.

Reviewer Comment (2023-10-21): Received credit application Buyer Comment (2023-10-20): loan application

10/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709189

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

The file is missing a copy of the secondary valuation required for securitization purposes.

Reviewer Comment (2023-10-21): Received Buyer Comment (2023-10-20): CDA

10/21/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709190

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Legal / Regulatory / Compliance

Final Title Policy is missing. No evidence of title in file.

Reviewer Comment (2023-10-21): Received Buyer Comment (2023-10-20): Title policy

10/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709191

Credit

Loan Package Documentation

Closing / Title

Title

Title: Evidence of title is missing

Reviewer Comment (2023-10-21): Received final title Buyer Comment (2023-10-20): Title policy

10/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709192

Credit

Credit

Credit Documentation

Credit

Missing Document: OFAC not provided

Missing OFAC search for the borrowing entity, full background check is not in the file.

Borrower has owned the subject property for at least 5 years. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

SitusAMC SitusAMC

Reviewer Comment (2023-10-21): Waived with compensating factors per lender approval. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/21/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709193

Credit

Missing Document

General

Missing Document

Missing Document: Stated not provided

TVC internal valuation was not provided.

Reviewer Comment (2023-10-21): Received Buyer Comment (2023-10-20): internal valuation

10/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220795244

[Redact]

[Redact]

29709195

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing LDP/GSA search for appraiser.

Borrower has owned the subject property for at least 5 years. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

SitusAMC SitusAMC

Reviewer Comment (2023-10-21): Waived with compensating factors per lender approval. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/21/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Investment

Refinance - Cash-out - Other

D

B

C

B

D

A

N/A

No

220798348

[Redact]

[Redact]

[Redact]

29711461

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220798348

[Redact]

[Redact]

[Redact]

29711462

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

A

A

C

B

A

A

Non QM

Non QM

No

220798348

[Redact]

[Redact]

[Redact]

29917223

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Reviewer Comment (2024-02-02): Client elected to waive the condition on the Non-QM 1st lien

02/02/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220798348

[Redact]

[Redact]

[Redact]

29917225

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Loan Discount Points Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2024-02-13): [Redact] Received Valid COC along with CD Seller Comment (2024-02-12): lock,CD Seller Comment (2024-02-12): On [Redact] a 6-day lock extension was added which caused the pricing to adjust and a new disclosure sent to the borrower. Please see attached lock confirmation and redisclosure

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220798348

[Redact]

[Redact]

[Redact]

29917226

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Appraisal Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2024-02-13): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception. Seller Comment (2024-02-12): final CD Seller Comment (2024-02-12): The tolerance of [Redact] is reflected in section J on the final CD. Please see attached

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220798348

[Redact]

[Redact]

[Redact]

29976238

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception.

Reviewer Comment (2024-02-13): Sufficient Cure Provided At Closing

02/13/2024

1

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

220798540

[Redact]

[Redact]

[Redact]

29714957

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-05): Collateral was delivered on [Redact] via [Redact] tracking [Redact].

03/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220798540

[Redact]

[Redact]

[Redact]

29714958

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-05): Collateral was delivered on [Redact] via [Redact] tracking [Redact].

03/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220798825

[Redact]

[Redact]

[Redact]

29715914

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-22): The collateral was delivered [Redact] at 8:47am via [Redact] trk#[Redact].

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220798825

[Redact]

[Redact]

[Redact]

29715915

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-01-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-01-22): The collateral was delivered [Redact] at 8:47am via [Redact] trk#[Redact].

01/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220798825

[Redact]

[Redact]

[Redact]

29815502

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

The file was missing a copy of Operating agreement for [Redact].

Reviewer Comment (2024-01-23): Received operating agreement. Exception Cleared. Seller Comment (2024-01-23): agreement is attached

01/23/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220798825

[Redact]

[Redact]

[Redact]

29816033

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Tax Certificate not provided

Please provide a tax certificate for the subject property.

Reviewer Comment (2024-01-23): Received Tax certificate. Exception Cleared. Seller Comment (2024-01-23): Please see attached tax certificate.

01/23/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220798825

[Redact]

[Redact]

[Redact]

29816729

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Reviewer Comment (2024-01-23): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-01-23): Guarantor Agreement is attached.

01/23/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220800868

[Redact]

[Redact]

29730597

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

Reviewer Comment (2023-10-21): Received CDA Buyer Comment (2023-10-20): CDA

10/21/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220800868

[Redact]

[Redact]

29730598

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  ___ is less than Cash From Borrower ___.

No asset statement provided.

Reviewer Comment (2023-10-30): Per client, the guideline section regarding assets being listed on the loan application was an error. Buyer Comment (2023-10-27): The guidelines provided for this set of loans had language regarding assets being verified on the loan application that should have been removed.   All these loans were underwritten with no asset verification required.  The guidelines make no mention of asset verification except for this one line which itself is not proof of assets.  Please clear.

10/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220800868

[Redact]

[Redact]

29730599

Credit

Insurance

Insurance Documentation

Insurance

Insurance Policy Expiration Date is less than 30 days of the Note Date and does not have automatic renewal.

Insurance Policy Expiration Date is less than 30 days of the Note Date. Effective date is [Redact] and Expiration date is [Redact].

Reviewer Comment (2023-10-31): Received updated HOI policy. Buyer Comment (2023-10-30): HOI

10/31/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220800868

[Redact]

[Redact]

29730600

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Missing LDP/GSA search for appraiser.

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

SitusAMC

Reviewer Comment (2023-10-21): Waived with compensating factors per lender approval. Buyer Comment (2023-10-20): Please waive with compensating factors.

10/21/2023

2

C

B

C

B

C

B

C

B

D

B

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220800868

[Redact]

[Redact]

29730601

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

File contains the Certification Regarding Beneficial Owners form; however, Part II, Sections a and b were not completed.

Reviewer Comment (2023-10-31): Received Buyer Comment (2023-10-30): [Redact]

10/31/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220800868

[Redact]

[Redact]

29730602

Credit

Hazard Insurance

Document Error

Hazard Insurance

Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.

The updated HOI policy received in trailing documents reflects the mortgagee clause was changed effective [Redact], which is one year after subject loan closed.  Please provide HOI policy in effect at time of subject loan closing reflecting correct mortgagee clause.

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

SitusAMC

Reviewer Comment (2024-01-31): The client elected to waive the condition post-purchase with the following compensating factors: • Loan is current and not missed pmts • Most recent BPO dated [Redact] shows property well maintained and value increase 23% • No record of hazard claim filings that would indicate property damage

01/31/2024

2

B

B

B

B

B

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220800868

[Redact]

[Redact]

29730603

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy Effective Date is after closing.

The updated HOI policy received in trailing documents reflects effective dates of [Redact] through [Redact], which is 6 days after subject loan closing/disbursement date.  Please provide HOI effective as of disbursement date.

Reviewer Comment (2024-01-02): New updated condition set

01/02/2024

1

A

A

A

A

A

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220800868

[Redact]

[Redact]

29730745

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy effective date is after the funds disbursed.

Hazard Insurance Policy Effective Date ___; Disbursement Date: ___; Note Date: ___; Transaction Date: ___

The updated HOI policy received in trailing documents reflects effective dates of [Redact] through [Redact], which is 6 days after subject loan closing/disbursement date.  Please provide HOI effective as of disbursement date.

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

SitusAMC

Reviewer Comment (2024-01-31): The client elected to waive the condition post-purchase with the following compensating factors: • Loan is current and not missed pmts • Most recent BPO dated [Redact] shows property well maintained and value increase 23% • No record of hazard claim filings that would indicate property damage

01/31/2024

2

B

B

B

B

B

[Redact]

Investment

Purchase

D

B

D

B

D

A

N/A

No

220803562

[Redact]

[Redact]

[Redact]

29735407

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-05): Waived on Rate Lock: Collateral cleared by Custodian

02/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220803562

[Redact]

[Redact]

[Redact]

29735408

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-05): Waived on Rate Lock: Collateral cleared by Custodian

02/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220806944

[Redact]

[Redact]

[Redact]

29744388

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-20): Collateral was delivered on [Redact] via [Redact] tracking number [Redact].

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

220806944

[Redact]

[Redact]

[Redact]

29744389

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-20): Collateral was delivered on [Redact] via [Redact] tracking number [Redact].

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

220806944

[Redact]

[Redact]

[Redact]

29996539

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

Copy of Lease Agreement is not available in file.

Reviewer Comment (2024-02-26): Received Lease Agreement. Exception Cleared. Seller Comment (2024-02-22): Please see attached lease.

02/26/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

220806944

[Redact]

[Redact]

[Redact]

30000083

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

Missing additional months' statement for the business account.  Only 1 statement in file with an end date of [Redact].

Reviewer Comment (2024-02-21): Received Bank Statement. Exception Cleared. Seller Comment (2024-02-20): Please see attached statement. Seller Comment (2024-02-20): Please see attached statement

02/21/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

220806945

[Redact]

[Redact]

[Redact]

29744394

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220806945

[Redact]

[Redact]

[Redact]

29744395

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220806945

[Redact]

[Redact]

[Redact]

29954111

Credit

Investment Product

General

Investment Product

REO property does not have a lease in place and required by guidelines.

-

The file was missing a copy of the Lease Agreement.

Reviewer Comment (2024-02-13): Received Lease Agreement. Exception Cleared. Seller Comment (2024-02-12): Please see attached lease agreement.

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220814071

[Redact]

[Redact]

[Redact]

29757386

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-05): Waived on Rate Lock: Collateral cleared by Custodian

02/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220814071

[Redact]

[Redact]

[Redact]

29757387

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-05): Waived on Rate Lock: Collateral cleared by Custodian

02/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220839383

[Redact]

[Redact]

[Redact]

29766365

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): collateral delivered [Redact] via [Redact] [Redact]

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220839383

[Redact]

[Redact]

[Redact]

29766366

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): collateral delivered [Redact] via [Redact] [Redact]

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220839520

[Redact]

[Redact]

[Redact]

29766832

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-05): collateral delivered [Redact] via [Redact] [Redact]

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220839520

[Redact]

[Redact]

[Redact]

29766833

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-05): collateral delivered [Redact] via [Redact] [Redact]

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220839520

[Redact]

[Redact]

[Redact]

29870536

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The file was missing copy of the Business Purpose Certificate

Reviewer Comment (2024-02-01): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-01-31): business purpose

02/01/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220839520

[Redact]

[Redact]

[Redact]

29874551

Credit

Title

Document Error

Title

The Preliminary title policy is within [Redact] or [Redact] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The preliminary title report in file did not disclose the amount of title insurance coverage.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

01/30/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220840481

[Redact]

[Redact]

[Redact]

29767777

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220840481

[Redact]

[Redact]

[Redact]

29767778

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220840482

[Redact]

[Redact]

[Redact]

29767794

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220840482

[Redact]

[Redact]

[Redact]

29767795

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220840482

[Redact]

[Redact]

[Redact]

29977700

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Discount Points was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file. Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made

Reviewer Comment (2024-02-19): [Redact] received valid relock document. Seller Comment (2024-02-17): relock completed on [Redact] increased final price to [Redact]

02/19/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

220840482

[Redact]

[Redact]

[Redact]

30043582

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: Property is located in a FEMA Disaster area and has not been inspected.

Upon further review, the subject is in a FEMA disaster area.  Provide a post-disaster inspection dated after the declaration end date of [Redact].

Reviewer Comment (2024-02-29): PDI provided. Exception cleared.. Seller Comment (2024-02-28): [Redact] - Please see attached PDI.

02/29/2024

1

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

220841120

[Redact]

[Redact]

[Redact]

29767958

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220841120

[Redact]

[Redact]

[Redact]

29767959

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220841140

[Redact]

[Redact]

[Redact]

29768002

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220841140

[Redact]

[Redact]

[Redact]

29768003

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220845000

[Redact]

[Redact]

[Redact]

29773267

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-08): Collateral delivered on [Redact] via [Redact] tracking [Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220845000

[Redact]

[Redact]

[Redact]

29773268

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-08): Collateral delivered on [Redact] via [Redact] tracking [Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220845070

[Redact]

[Redact]

[Redact]

29773346

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220845070

[Redact]

[Redact]

[Redact]

29773347

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220845070

[Redact]

[Redact]

[Redact]

29953462

Credit

Missing Document

General

Missing Document

Missing Document: Cash-Out Utilization not provided

Cash-Out Utilization not provided.

Reviewer Comment (2024-02-12): Received business purpose certificate. Exception Cleared. Seller Comment (2024-02-12): business purpose

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220845070

[Redact]

[Redact]

[Redact]

29953464

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The file was missing a copy of Business Purpose Certificate.

Reviewer Comment (2024-02-12): Received business purpose certificate. Exception Cleared. Seller Comment (2024-02-12): business purpose

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220848410

[Redact]

[Redact]

[Redact]

29778768

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-06): Waived on Rate Lock: Collateral cleared by Custodian

03/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220848410

[Redact]

[Redact]

[Redact]

29778769

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-06): Waived on Rate Lock: Collateral cleared by Custodian

03/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220848410

[Redact]

[Redact]

[Redact]

30086242

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Reviewer Comment (2024-03-05): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-03-05): Please see attached Guaranty Agreement.

03/05/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220849087

[Redact]

[Redact]

[Redact]

29780044

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220849087

[Redact]

[Redact]

[Redact]

29780045

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-09): The collateral was delivered [Redact] at 9:15am via [Redact] trk#[Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220850385

[Redact]

[Redact]

[Redact]

29783671

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-07): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220850385

[Redact]

[Redact]

[Redact]

29783672

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-07): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220854367

[Redact]

[Redact]

29792756

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-01): File not going to FNMA; lender acknowledged non material EV2

11/01/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

Yes

220854367

[Redact]

[Redact]

29792757

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Loan designation failure due to QM failure.  This exception will be cleared once all QM specific exceptions have been cured/cleared.

Reviewer Comment (2023-11-29): Documentation provided. Buyer Comment (2023-11-28): Please clear all other exceptions have been cleared

11/29/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

B

C

B

C

B

A

B

Non QM

Non QM

Yes

220854367

[Redact]

[Redact]

29792758

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Bank Statements

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current employment status using reasonably reliable third-party records.

CPA letter not provided for business "[Redact]".

Reviewer Comment (2023-11-07): Updated Operating agreement for Rain Scientific provided. Buyer Comment (2023-11-03): See attached

11/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220854367

[Redact]

[Redact]

29792760

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

Loan designation failure due to QM failure.  This exception will be cleared once all QM specific exceptions have been cured/cleared.

Reviewer Comment (2023-11-29): Documentation provided.

11/29/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220854367

[Redact]

[Redact]

29792761

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Credit Report Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure.  File does not contain a valid COC for this fee, cure provided at closing.

10/26/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Final CD evidences Cure

C

B

C

B

C

B

A

B

Non QM

Non QM

Yes

220854367

[Redact]

[Redact]

29792764

Credit

Credit

Credit Documentation

Guideline

The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.

Verification of Rent (VOR) missing for current property address "[Redact]".

Reviewer Comment (2023-11-06): Received 13 Month pay history for Rental payment of Primary Property . Exception Cleared Buyer Comment (2023-11-03): VOR

11/06/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220854367

[Redact]

[Redact]

29792766

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception-Allow payment shock of 380.470; Compensating Factors-Using purchase price of [Redact]-Review value is [Redact]. Applied conservative percentage ownership in event partial share sale should occur post closing-using 63.1725%.

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

21 vs 45

SitusAMC,Originator

Reviewer Comment (2023-10-31): Lender approved to waive, DTI, LTV 60%, 10 year job.

10/31/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220854367

[Redact]

[Redact]

29792767

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Verification appraisal was delivered to borrower was not provided. Waiver provided

Buyer Comment (2023-11-09): Signed acknowledgment of receipt in file. Lender acknowledges non material EV2. Reviewer Comment (2023-11-09): Verification appraisal was delivered to borrower was not provided for Appraisal Report dated [Redact], Appraisal delivery confirmation already provided in the file is for earlier Appraisal dated [Redact]. Exception Remains Buyer Comment (2023-11-08): Appraisal delivery - Please also see signed Appraisal Receipt located at D0076 signed on [Redact]

11/09/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220854367

[Redact]

[Redact]

29792768

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception-to allow appraisal review exceeds 10%-is 16.1% less. Compensating Factors-Using purchase price of [Redact]-Review value is [Redact]. Applied conservative percentage ownership in event partial share sale should occur post closing-using 63.1725%.

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

21 vs 45

SitusAMC,Originator

Reviewer Comment (2023-12-13): Field Review confirms the original appraised value. Reviewer Comment (2023-11-28): Field review provided. Buyer Comment (2023-11-27): Field review Reviewer Comment (2023-10-31): Lender approved to waive, DTI, LTV 60%, 10 year job.

12/13/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220854367

[Redact]

[Redact]

29792769

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

[Redact] required field review per [Redact].

Reviewer Comment (2023-11-29): Field review provided and reviewed by investor and accepted. Included in file for historical purposes.  Not tested by diligence

11/29/2023

1

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220854367

[Redact]

[Redact]

29792770

Property

Appraisal Reconciliation

Value Discrepancy

Appraisal Reconciliation

Loan is to be securitized.  Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value.; Sec ID: 22

Note Date:  ___; Lien Position: ___

The qualifying DTI on the loan is at least 10% less than the guideline maximum. Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

21 vs 45

SitusAMC,Originator SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-12-13): Exception provided. Field Review confirms the original appraised value.

12/13/2023

2

A

A

A

A

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

B

Non QM

Non QM

No

220855399

[Redact]

[Redact]

[Redact]

29796910

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-08): Collateral was delivered on [Redact] via [Redact] tracking [Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220855399

[Redact]

[Redact]

[Redact]

29796911

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-08): Collateral was delivered on [Redact] via [Redact] tracking [Redact].

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220855432

[Redact]

[Redact]

[Redact]

29797041

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): Collateral was delivered [Redact] via [Redact] [Redact]

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220855432

[Redact]

[Redact]

[Redact]

29797042

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): Collateral was delivered [Redact] via [Redact] [Redact]

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220855432

[Redact]

[Redact]

[Redact]

29978895

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact].  Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current  coverage amount.

Reviewer Comment (2024-02-29): Received RCE with sufficient  coverage. Exception Cleared. Seller Comment (2024-02-27): rce

02/29/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220856186

[Redact]

[Redact]

29797876

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

Reviewer Comment (2023-12-19): Appraisal transferred to [Redact] [Redact]. Original appraisal provided. Buyer Comment (2023-12-18): Earlier appraisal Reviewer Comment (2023-12-14): Proof of delivery on [Redact] provided. The appraisal in file is dated [Redact], please provide the original appraisal. Buyer Comment (2023-12-12): Appraisal delivery Reviewer Comment (2023-12-05): The lender correspondence provided shows when the appraisal was delivered to the Lender not the borrower. Buyer Comment (2023-12-01): Please see uploaded Appraisal tracking -[Redact] notes by user confirm appraisal delivery

12/19/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856186

[Redact]

[Redact]

29797877

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

HPML requirements not met.  Non-Compliant higher priced mortgage loan.  APR on final CD of [Redact] exceeds threshold of [Redact].

Reviewer Comment (2023-12-19): Appraisal transferred to [Redact] [Redact]. Original appraisal provided. Buyer Comment (2023-12-18): Please see uploaded appraisal documents

12/19/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856186

[Redact]

[Redact]

29797878

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Timely delivery not provided

Reviewer Comment (2023-12-19): Appraisal transferred to [Redact] [Redact]. Original appraisal provided. Buyer Comment (2023-12-18): Please see uploaded delivery and original appraisal report Reviewer Comment (2023-12-05): The lender correspondence provided shows when the appraisal was delivered to the Lender not the borrower. Buyer Comment (2023-12-01): [Redact] Appraisal delivery - Please see comments by user on [Redact]

12/19/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856186

[Redact]

[Redact]

29797879

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and fees of [Redact] exceeds allowable maximum of 3%.  Points and fees in the amount of [Redact] exceeds allowable fees in the amount of [Redact].

Buyer Comment (2023-11-20): Acknowledged as non-material

11/20/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220856186

[Redact]

[Redact]

29797881

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Calculated loan to value percentage of 77.25000% exceeds Guideline loan to value percentage of 75.00000%. Stacking of points is allowed; however, final CD does not reflect any points were charged.

Reviewer Comment (2023-11-28): Stacking is allowed. Buyer Comment (2023-11-27): Per lender: Both points and broker fees, not just discount fees are able to be included in stacking.

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856186

[Redact]

[Redact]

29797882

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Calculated combined loan to value percentage of 77.25 exceeds Guideline combined loan to value percentage of 75.00000%.  Stacking of points is allowed; however, final CD does not reflect any points were charged.

Reviewer Comment (2023-11-30): Stacking allowed. Buyer Comment (2023-11-28): Duplicate exception please clear.

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856186

[Redact]

[Redact]

29797883

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The loan is ineligble due to previous mortgage history of 17 x30 and 1x 60.  Investor requires 0 late payments on all mortgages since origination.

Reviewer Comment (2023-11-28): Matrix states all mortgages must be current at closing. All mortgages were current at closing. Buyer Comment (2023-11-27): Per lender: Please see matrix regarding mortgage history requirements. Guidelines do not reflect 0 late payments on all mortgages since origination

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856186

[Redact]

[Redact]

29797884

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing Note for subordinate lien from [Redact],

Reviewer Comment (2023-11-28): Subordinate agreement provided. Buyer Comment (2023-11-27): Subordination Agreement Uploaded

11/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856187

[Redact]

[Redact]

29797887

Compliance

Compliance

State Compliance

Misc. State Level

(TX50(a)(6)) Texas Cash-out Loan (T-42 Endorsement Not Obtained)

[Redact] Constitution Section 50(a)(6): Acceptable FNMA title insurance endorsements not obtained for home equity loan.  Although the loan file contains the T-42 Endorsement, there is no evidence the Title Policy includes the [Redact] T-42.1 endorsement. (The loan is a [Redact] Section 50 (a)(6) home equity loan.)

Reviewer Comment (2023-12-29): Final policy provided. Buyer Comment (2023-12-27): Policy Reviewer Comment (2023-12-19): Provide the final title. Buyer Comment (2023-12-19): Email from title confirming endorsements were added to final title

12/29/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Refinance - Cash-out - Other

The endorsements would be required at the time of original title policy issuance, there is not an obvious remediation

C

B

C

B

B

A

A

A

Non QM

Non QM

No

220856187

[Redact]

[Redact]

29797889

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Coverage Shortfall of [Redact]. Hazard Insurance Coverage Amount is insufficient

Reviewer Comment (2023-11-30): RCE was provided. Buyer Comment (2023-11-29): comment from lender: RCE provided is acceptable per [Redact] guidelines.

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

A

A

A

Non QM

Non QM

No

220856187

[Redact]

[Redact]

29797891

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to allow rural property.  Compensating factors: Reserves and low DTI.

The qualifying DTI on the loan is at least 10% less than the guideline maximum. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

11.79 vs 50%

SitusAMC,Originator SitusAMC

Reviewer Comment (2023-11-22): Approved to waive with compensating factors. DTI is 13.968/36.5. FICO is 763, and 17.90 months of reserves.

11/22/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

A

A

A

Non QM

Non QM

No

220856187

[Redact]

[Redact]

29797892

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide letter of explanation and documentation to support the payments to[Redact]y for the land payment, provide completed payment history up to the month of closing. Provide executed note or lease exceuting terms of the lease, the payment of [Redact] must be added to the DTI.

Reviewer Comment (2023-11-30): Property is land. Buyer Comment (2023-11-29): comment from lender: This is a land loan, docs and proof of payment attached. Updated 1003 and 1008 uploaded with monthly payment included in DTI.

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

A

A

A

Non QM

Non QM

No

220856188

[Redact]

[Redact]

29797894

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-27): Acknowledged as non-material

11/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220856188

[Redact]

[Redact]

29797898

Credit

Insurance

Insurance Documentation

Insurance

Missing Document: Flood Insurance Policy not provided

Flood Insurance Policy missing

Reviewer Comment (2023-11-30): Flood provided Buyer Comment (2023-11-30): flood

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856188

[Redact]

[Redact]

29797899

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender exception provided: Allow 62% LTV for [Redact] Loan Amount. Compensating factor: [Redact] C/O, 11 years on the job, 1.5 years at present address, no mortgage lates.

Borrower has been employed in the same industry for more than 5 years.

11 years on job

SitusAMC,Originator

Reviewer Comment (2023-12-22): Lender approved to waive with compensating factors: 11 years on the job, 1.5 years at present address, no mortgage lates.

12/22/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856188

[Redact]

[Redact]

29797900

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Twelve months of reserves required and 10.72 provided.  Lender Exception: Allow 10.77 months reserves vs 12 , Use 3% of [Redact] balance to add to the DTI. Compensating Factor: [Redact], years 11 on the job, years at present address 1.5, no mortgage lates.

Borrower has been employed in the same industry for more than 5 years.

11 years on job

SitusAMC,Originator

Reviewer Comment (2023-12-22): Lender approved to waive with compensating factors: 11 years on the job, 1.5 years at present address, no mortgage lates. Buyer Comment (2023-12-21): Per exception there is a lender exception however the exception is  still open. Please advise

12/22/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856188

[Redact]

[Redact]

29797902

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Contact Information - Broker

TILA-RESPA Integrated Disclosure - Contact Information: Final Closing Disclosure provided on [Redact] did not disclose the required  Broker  Contact Information (Broker Name, Broker NMLS ID, Contact Name, Contact NMLS ID).

The Contact Information section of the final CD did not disclose the Broker's Contact or Contact's NMLS ID.  Provide a post-close CD correcting the section and a copy of the letter of explanation to the borrower disclosing the changes made or an attestation from the lender stating that no individual contact was used on the transaction.

Reviewer Comment (2023-12-01): [Redact] received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2023-11-29): Corrected PCCDs and LOE uploaded.

12/01/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220856188

[Redact]

[Redact]

29797904

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Pay History not provided

Require Verification of Mortgage for [Redact] & [Redact] from [Redact] #[Redact] on Primary Residence '[Redact]' per guide. verified 10 months history with [Redact] # [Redact] from [Redact] to [Redact] per credit report.

Reviewer Comment (2023-11-30): History provided Buyer Comment (2023-11-30): Verification of [Redact] & [Redact] payments.

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856188

[Redact]

[Redact]

29797905

Compliance

Missing Document

General

Missing Document

Incomplete Document: Right to Cancel (RTC) is incomplete

Require updated Right to Cancel document with  Right to Cancel Expiration Date.

Reviewer Comment (2023-11-30): RTC provided Buyer Comment (2023-11-29): RTC

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856188

[Redact]

[Redact]

29797906

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Final CD page 4 reflects not assumable. Loan is assumable, please provide corrected PCCD.

Reviewer Comment (2023-11-30): PCCD provided. Buyer Comment (2023-11-29): Corrected PCCD and LOE uploaded.

11/30/2023

1

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856189

[Redact]

[Redact]

29797907

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower within 3 days of closing was not provided.  Waiver not provided.

Buyer Comment (2023-11-28): D0536 - evidence of appraisal delivery in file. [Redact] (document is 2 pages)

11/28/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856189

[Redact]

[Redact]

29797908

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2023-11-30): Delivery provided. Buyer Comment (2023-11-28): D0536 - evidence of appraisal delivery in file. [Redact] (document is 2 pages)

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856189

[Redact]

[Redact]

29797909

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

Reviewer Comment (2023-11-30): Delivery provided. Buyer Comment (2023-11-29): Corrected PCCD and LOE for assumption section - No condiiton set in Clarity. Pleaes review. Buyer Comment (2023-11-28): D0536 - evidence of appraisal delivery in file. [Redact] (document is 2 pages)

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856189

[Redact]

[Redact]

29797910

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-27): File not going to FNMA; lender acknowledged non material EV2

11/27/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220856189

[Redact]

[Redact]

29797911

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan Designation failure due to QM failure. This exception will be cleared once all QM specific exception have been cured/cleared.

Reviewer Comment (2023-12-22): Collection account has been omitted From reserve as guideline allows (page 65). Revised 1008 provided with new DTI 40.992%. Exception Cleared

12/22/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220856189

[Redact]

[Redact]

29797913

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 45.67754% moderately exceeds the guideline maximum of 45.00%. (DTI Exception is eligible to be regraded with compensating factors.)

Reviewer Comment (2023-12-22): Collection account has been omitted From reserve as guideline allows (page 65). Revised 1008 provided with new DTI 40.992%. Exception Cleared Buyer Comment (2023-12-22): Exception has been cleared. Please clear duplicate.

12/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856189

[Redact]

[Redact]

29797914

Credit

Credit

Miscellaneous

Credit

Miscellaneous Credit (Non-Material):

Rate Lock doc is missing.

Reviewer Comment (2023-11-28): RL provided. Buyer Comment (2023-11-27): Lock

11/28/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856189

[Redact]

[Redact]

29797917

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

The approval shows the DTI as 44.958%.

Reviewer Comment (2023-12-22): Collection account has been omitted From reserve as guideline allows (page 65). Revised 1008 provided with new DTI 40.992%. Exception Cleared Buyer Comment (2023-12-21): See attached lox Buyer Comment (2023-12-21): Per lender : [Redact] guides allow exclusion of charge off payments with reserves. DTI is 40% excluding Buyer Comment (2023-12-21): Guidelines

12/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856189

[Redact]

[Redact]

29797918

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR specific exception cleared once all income related exception have been cleared.

Reviewer Comment (2023-12-22): Collection account has been omitted From reserve as guideline allows (page 65). Revised 1008 provided with new DTI 40.992%. Exception Cleared

12/22/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856190

[Redact]

[Redact]

29797920

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Compliant Higher Priced Mortgage Loan.

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].

Reviewer Comment (2023-12-14): Cleared

12/14/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856190

[Redact]

[Redact]

29797921

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Fannie Mae 2014 3% Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2023-11-23): Acknowledged as non-material.

11/23/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220856190

[Redact]

[Redact]

29797922

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

ATR failure due to insufficient income documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-12-14): Documentation provided.

12/14/2023

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

220856190

[Redact]

[Redact]

29797923

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Bank Statements

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current employment status using reasonably reliable third-party records.

CPA Letter not provided for business "[Redact]"

Reviewer Comment (2023-12-14): Third party document provided. Buyer Comment (2023-12-13): Business verification

12/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856190

[Redact]

[Redact]

29797925

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR failure due to insufficient income documentation.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2023-12-14): Cleared

12/14/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856190

[Redact]

[Redact]

29797926

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Require Verification of Rent with complete 12 months housing history for current address "[Redact]".

Reviewer Comment (2023-11-29): VOR provided Buyer Comment (2023-11-27): VOR

11/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856190

[Redact]

[Redact]

29797929

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy Effective Date is after closing.

Hazard Insurance Policy Effective Date ___, Disbursement Date: ___

The Hazard Insurance Policy Effective Date is after the later of the note or transaction date.

Reviewer Comment (2023-11-29): Funding date is [Redact]. Buyer Comment (2023-11-27): Per lender: Funding document provided reflects loan did not fund until [Redact].

11/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856190

[Redact]

[Redact]

29797930

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of 90.00000% exceeds Guideline loan to value percentage of 85.00000%.

Reviewer Comment (2023-11-29): Updated LTV max to 90%. Cleared. Buyer Comment (2023-11-27): Per lender: Please see attached Matrix which reflects Purchase with 747 score 90% LTV acceptable.

11/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856190

[Redact]

[Redact]

29797931

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of 90.00000% exceeds Guideline combined loan to value percentage of 85.00000%.

Reviewer Comment (2023-11-29): Matrix provided. Cleared.

11/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

220856191

[Redact]

[Redact]

29797932

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception for 10 month rent history, plus 2 months rent free.  Compensating factors: reserves [Redact] LTV 75%, 2.5 years on job.

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

12 vs 6

SitusAMC,Originator

Reviewer Comment (2023-11-14): Approved to waive with compensating factors: Reserves 12 vs 6,  [Redact] LTV 75%, 2.5 years on job.

11/14/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856191

[Redact]

[Redact]

29797934

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide Verifcation of rent.

Reviewer Comment (2023-11-24): VOR provided. Buyer Comment (2023-11-21): VOR

11/24/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856191

[Redact]

[Redact]

29797935

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The current housing lease agreement states the rental payments are [Redact] per month, however the bank statements reflect a higher amount coming out monthly.  Provide a detailed letter of explanation indicating why the rental payments being made are not a consistent amount and why the borrower is paying a higher rent amount than stated on the lease agreement.

Reviewer Comment (2023-12-06): LOX provided. Buyer Comment (2023-12-05): Please see attached Rent explanation Buyer Comment (2023-12-05): Lox

12/06/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856191

[Redact]

[Redact]

29797936

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

The most recent disaster end date is dated the same day as the effective date of the appraisal.

Reviewer Comment (2023-12-01): Received Post disaster inspection report. Exception Cleared Buyer Comment (2023-11-30): PDI

12/01/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856191

[Redact]

[Redact]

29797937

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

The hazard insurance has a shortage of [Redact].

Reviewer Comment (2023-12-28): Revised HOI Received with new Coverage amount suffice the requirement. Exception Cleared Buyer Comment (2023-12-27): HOI at [Redact] Reviewer Comment (2023-12-21): Provide HOI with  increase coverage or insurer provide ERC or insurer state in an email that coverage was made to the ERC.. Exception remains Buyer Comment (2023-12-20): HOI from lender Reviewer Comment (2023-12-01): Insurer email does not confirm ERC. Guides state The coverage must provide for claims to be settled on a replacement cost basis. Due to lack of insurer ERC we are testing using appraiser estimated cost [Redact] less schedule A coverage [Redact] Buyer Comment (2023-11-30): See agent email

12/28/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856191

[Redact]

[Redact]

29797939

Credit

Credit

Miscellaneous

Credit

Missing Document: Credit Letter of Explanation (LOE) not provided

Missing rent free letter for previous housing.

Reviewer Comment (2023-12-21): LOX and VOM Received verified 12 Month History as per guideline. Lender exception approval provided in the file for rent free.as borrower staying with her ex in past only made [Redact] and [Redact] payment. Exception Cleared Buyer Comment (2023-12-20): comment from lender: VOR and Letter for living with Ex-Fiance is a total of 12 months. Please see attached supporting documentation Reviewer Comment (2023-12-06): Rent Free letter dated [Redact] shows address of "[Redact]. Still need Ret Free letter for the  property address " [Redact]" Buyer Comment (2023-12-05): Rent free

12/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

220856191

[Redact]

[Redact]

29797942

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation

TILA-RESPA Integrated Disclosure: Zero Percent Tolerance exceeded for Lender Credits. Final Lender Credit of [Redact]  is less than amount of binding Lender Credit previously disclosed in the amount of [Redact].

Lender credit of [Redact] is less than the binding lender credit previuosly disclosed in the amount of [Redact].

Reviewer Comment (2023-12-12): [Redact] received Letter of Explanation, Proof of Delivery, Refund check  & Corrected CD. Buyer Comment (2023-12-11): LOE, PCCD, refund check and tracking label Reviewer Comment (2023-12-06): Doc ID 0414 indicates a pricing change for citizenship status, however the file is missing the date of this change. Based on the loan file, the lender credit reduced without an interest related VCC on both the [Redact] LE and the [Redact] CD. The COC in file for the [Redact] change states that the borrower requested to remove the lender credit and add discount points with the same interest rate (which was not considered a valid change because there was no valid reason supporting removal of the lender credit). Subsequently, a CD was issued on [Redact] with a lender credit of -[Redact] and later CDs issued on [Redact] and [Redact] have no lender credits. The COC for [Redact] states that the borrower requested to remove lender compensation and add a discount credit, however no credit was added to the [Redact] CD. Please provide evidence of valid changed circumstances with dates of changes or provide a cure. Cure requirements are: PCCD, LOE, copy of the refund check, and proof of mailing. Buyer Comment (2023-12-04): COC in file documented the date of [Redact]. The rate sheet was provided as supporting documentation of the valid change. Reviewer Comment (2023-12-01): [Redact] received documentation evidencing pricing/program change, however the change date was not documented. Please provide evidence of a valid changed circumstance or provide a cure. Cure requirements are: PCCD, LOE, copy of the refund check, and proof of mailing. Buyer Comment (2023-11-29): Lock confirmation to evidence uploaded. Buyer Comment (2023-11-29): Per lender: See the attached lock confirmations. It was discovered, after obtaining the borrower's citizenship paperwork, that the borrower is not a permanent resident. There is a pricing hit for that citizenship type and that is the reason for the pricing increase.

12/12/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

220856193

[Redact]

[Redact]

29797948

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Reviewer Comment (2023-12-04): Gift use provided. Buyer Comment (2023-12-03): Asset statement Buyer Comment (2023-12-03): Gift Reviewer Comment (2023-11-30): Exception is due to short reserves. Exception provided is for gift money & payment shock. Buyer Comment (2023-11-30): Exception

12/04/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

220856193

[Redact]

[Redact]

29797950

Credit

Credit

Credit Documentation

Credit

Insufficient Verification of Rental History.

Require verification of Rent on Current Residence '[Redact]' and Previous Address '[Redact]' per guide, 12-month rental history is required, reflecting 0x30.

Reviewer Comment (2023-11-30): VOR provided Buyer Comment (2023-11-29): VOR

11/30/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

220856193

[Redact]

[Redact]

29797951

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Approved to allow Payment shock exceeds guidelines. Good FICO, DTI and 16 years self employed. with consistent income.

Borrower has been employed in the same industry for more than 5 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact].

Borrower using own funds

SitusAMC SitusAMC,Originator

Reviewer Comment (2023-11-22): Approved to waive with compensating factors.  Good FICO, DTI and 16 years self employed. with consistent income.

11/22/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

220856193

[Redact]

[Redact]

29797952

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception provided for using gift funds for LTV exceeding 80%.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Borrower using own funds

SitusAMC,Originator SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-12-04): Lender exception provided. Comp factors provided are: 22.218% DTI, 702 FICO, 16 years on the job.

12/04/2023

2

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

220856196

[Redact]

[Redact]

29797981

Compliance

Compliance

Federal Compliance

Missing, Incorrect, or Incomplete HUD-1

Missing Final HUD-1:  Title Co. Closing Statement Used For Fee Testing Non Material

Missing Final HUD-1: Title Company Closing Statement used for any applicable Federal, State or Local compliance testing.  Investment occupancy with business purpose cert in file. Business purpose loans exempt from RESPA HUD-1 requirement. EV2 informational finding to indicate which document was used to source fees for any applicable testing.

Final HUD-1 document is missing from file.

Buyer Comment (2023-12-08): Acknowledged as non-material.

12/08/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

N/A

N/A

No

220856204

[Redact]

[Redact]

29798026

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Evidence of appraisal acknowledgement not provided in file.

Reviewer Comment (2023-12-21): Earlier dated appraisal and evidence of delivery provided. Buyer Comment (2023-12-19): Delivery email to borrower - also see uploaded appraisal Buyer Comment (2023-12-19): Original appraisal

12/21/2023

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

B

A

A

A

B

A

A

A

N/A

N/A

No

220856207

[Redact]

[Redact]

29798038

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide 12 month mortgage history for the current primary residence including [Redact] payment from [Redact] and [Redact].

Reviewer Comment (2023-12-26): Credit report documents more than 12 months. This is sufficient. Buyer Comment (2023-12-21): rebuttal Reviewer Comment (2023-12-14): The statement for [Redact] is not for the primary with a balance of [Redact] & a payment of [Redact]. Provide correct [Redact] statement with the [Redact] statement. Buyer Comment (2023-12-13): [Redact] Buyer Comment (2023-12-13): Lender comment: Mtg history not required for #[Redact] - only require mortgage history for primary and subject on [Redact] program.

12/26/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220856207

[Redact]

[Redact]

29798039

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide 12 month payment history from [Redact] reflecting the [Redact] payment made.

Reviewer Comment (2023-12-26): Not required. Buyer Comment (2023-12-21): Lender rebuttal Reviewer Comment (2023-12-14): Provide proof the [Redact] payment was made. The payoff shows late charges and accrued interest from [Redact] to [Redact]. Buyer Comment (2023-12-13): Lender's comments: Mtg history not required for #[Redact] - only require mortgage history for primary and subject on [Redact] program.

12/26/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

220856866

[Redact]

[Redact]

[Redact]

29800165

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-14): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-13): Collateral delivered on [Redact] via [Redact] tracking [Redact].

03/14/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220856866

[Redact]

[Redact]

[Redact]

29800166

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-14): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-13): Collateral delivered on [Redact] via [Redact] tracking [Redact].

03/14/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220856866

[Redact]

[Redact]

[Redact]

30134490

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Missing Final 1003

The file was missing a copy of the final 1003

Reviewer Comment (2024-03-14): Loan application provided. Exception cleared. Seller Comment (2024-03-13): Please see attached application.

03/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220856866

[Redact]

[Redact]

[Redact]

30134519

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The file was missing a copy of the Business Purpose Certificate

Reviewer Comment (2024-03-14): Cert provided. Exception cleared. Seller Comment (2024-03-13): Please see attached business purpose certificate.

03/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220856901

[Redact]

[Redact]

[Redact]

29800206

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): Collateral delivered on [Redact] via [Redact] tracking [Redact].

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220856901

[Redact]

[Redact]

[Redact]

29800207

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-15): Collateral delivered on [Redact] via [Redact] tracking [Redact].

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220857031

[Redact]

[Redact]

[Redact]

29800335

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220857031

[Redact]

[Redact]

[Redact]

29800336

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-07): Waived on Rate Lock: Collateral cleared by Custodian

02/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220857031

[Redact]

[Redact]

[Redact]

29883993

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.

The Title Policy has a coverage amount of [Redact] this is less than the note amount of [Redact] Please provide an updated title Commitment or final title.

02/01/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220857031

[Redact]

[Redact]

[Redact]

29883996

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Credit Report Fee was last disclosed as [Redact] on LE but disclosed as [Redact] on Final Closing Disclosure, however the lender provided a credit to cover the cost to cure.

Reviewer Comment (2024-02-01): Sufficient Cure Provided At Closing

02/01/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

B

C

B

B

B

A

A

Non QM

Non QM

Yes

220857031

[Redact]

[Redact]

[Redact]

29885150

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The final 1003 shows the borrower's investment property address as [Redact], however the mortgage statement shows the property address as [Redact]. Please provide a corrected final 1003 adding the [Redact] property to the REO and documentation to verify the PITIA for the [Redact] property.

Reviewer Comment (2024-02-08): Corrected 1003 provided Seller Comment (2024-02-07): [Redact]: Corrected loan application is attached.

02/08/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220857031

[Redact]

[Redact]

[Redact]

29903237

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Verification appraisal was delivered to borrower was not provided.

02/01/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Cash-out - Other

C

B

C

B

B

B

A

A

Non QM

Non QM

No

220857129

[Redact]

[Redact]

[Redact]

29800520

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220857129

[Redact]

[Redact]

[Redact]

29800521

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-16): Waived on Rate Lock: Collateral cleared by Custodian

02/16/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220858292

[Redact]

[Redact]

[Redact]

29802313

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-07): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220858292

[Redact]

[Redact]

[Redact]

29802314

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-12): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-07): collateral delivered [Redact] via [Redact] [Redact]

02/12/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220862543

[Redact]

[Redact]

[Redact]

29809081

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-05): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-01): The collateral was delivered [Redact] at 9:11am via [Redact] trk#[Redact].

03/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220862543

[Redact]

[Redact]

[Redact]

29809082

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-05): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-01): The collateral was delivered [Redact] at 9:11am via [Redact] trk#[Redact].

03/05/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220866324

[Redact]

[Redact]

[Redact]

29813372

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220866324

[Redact]

[Redact]

[Redact]

29813373

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220867168

[Redact]

[Redact]

[Redact]

29816167

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-13): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-12): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/13/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220867168

[Redact]

[Redact]

[Redact]

29816168

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-13): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-12): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/13/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220867756

[Redact]

[Redact]

[Redact]

29818206

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-21): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220867756

[Redact]

[Redact]

[Redact]

29818207

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-21): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220867756

[Redact]

[Redact]

[Redact]

30194571

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Tax Certificate not provided

Please provide a copy of the tax certificate used to calculate the annual taxes for the subject property this is required to calculate DSCR.

Reviewer Comment (2024-03-21): Tax Cert provided. Exception cleared. Seller Comment (2024-03-21): Please see the attached showing the annual tax is [Redact].

03/21/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220867756

[Redact]

[Redact]

[Redact]

30196823

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Appraisal reflects 480 sq ft of living space. n This doe snot meet guidelines requirement of minimum 500 sq ft required. Lender exception in loan file.

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

Client elected to waive the condition with the following comp factors: 766 fico vs minimum 680 required; 75% LTV vs maximum allowed of 80%; 2 years investor history vs minimum 1 year required; 0x30x24; 12 months reserves on subject.  CU Score 1 out of 5. Credit Depth: Oldest tradeline aged since 2007 mortgage history to 2015 all paid as agreed.

SitusAMC,Originator Pre-Close,Aggregator

Reviewer Comment (2024-03-19): Client elected to waive the condition with the following comp factors: 766 fico vs minimum 680 required; 75% LTV vs maximum allowed of 80%; 2 years investor history vs minimum 1 year required; 0x30x24; 12 months reserves on subject.  CU Score 1 out of 5. Credit Depth: Oldest tradeline aged since 2007 mortgage history to 2015 all paid as agreed.

03/19/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

C

B

C

B

A

A

N/A

No

220867795

[Redact]

[Redact]

[Redact]

29818272

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-23): collateral delivered [Redact] via [Redact] [Redact]

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220867795

[Redact]

[Redact]

[Redact]

29818273

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-23): collateral delivered [Redact] via [Redact] [Redact]

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220868005

[Redact]

[Redact]

[Redact]

29819081

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220868005

[Redact]

[Redact]

[Redact]

29819082

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220872355

[Redact]

[Redact]

[Redact]

29838075

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-08): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-04): The collateral was delivered [Redact] at 8:49am via [Redact] trk#[Redact].

03/08/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220872355

[Redact]

[Redact]

[Redact]

29838076

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-08): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-04): The collateral was delivered [Redact] at 8:49am via [Redact] trk#[Redact].

03/08/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220872355

[Redact]

[Redact]

[Redact]

30086473

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

File is missing a copy of Guarantor Agreement for business entiity.

Reviewer Comment (2024-03-05): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-03-05): Guaranty

03/05/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220877323

[Redact]

[Redact]

[Redact]

29847628

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-26): The collateral was delivered [Redact] at 8:33am via [Redact] trk#[Redact].

02/27/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220877323

[Redact]

[Redact]

[Redact]

29847629

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-26): The collateral was delivered [Redact] at 8:33am via [Redact] trk#[Redact].

02/27/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220878579

[Redact]

[Redact]

29851881

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Mismatch of data related to Occupancy.

-

Subject transaction is purchase of investment property; however, in declaration section borrower has indicated that he will occupy the subject property as a primary residence.

Reviewer Comment (2023-12-07): Updated 1003 page provided Buyer Comment (2023-12-05): 1003 Buyer Comment (2023-12-05): Lox

12/07/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

No

220878579

[Redact]

[Redact]

29851882

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Hazard Insurance Coverage Amount is insufficient.

Reviewer Comment (2024-01-16): Received Insurer email confirmation the coverage amount made to the RCE. Exception Cleared Buyer Comment (2024-01-13): Please see attached confirmation from Agent Reviewer Comment (2023-12-21): We will accept an email from insurer that states policy was written to the ERC or an email stating what the ERC was. Reviewer Comment (2023-12-15): All policies in FL contain verbiage 100% replacement cost which is up to the limits under section A, in this case [Redact]. Provide 100% of the insurable value of the improvements, as established by the property insurer. Buyer Comment (2023-12-14): 100 % replacement cost

01/16/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

No

220878579

[Redact]

[Redact]

29851883

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide letter of explanation and documentation to support the large deposit on 0[Redact] in [Redact] checking account [Redact] in the amount of [Redact].

Reviewer Comment (2023-12-21): Atypical large deposits do not need to be sourced on [Redact] (DSCR), [Redact] Business Purpose, and 12- and 24-Month Business Bank Statement loans. Buyer Comment (2023-12-21): Lender's comments: deposit is consistent with normal business cash flow.

12/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

No

220878579

[Redact]

[Redact]

29851884

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Subject property city discrepancy: Note & Security Instrument reflect "[Redact]"; other documents (appraisal, Settlement Statement, HOI, title, flood cert) reflect "[Redact]". Updated Note and Security Instrument to be provided correcting the subject property city.

Reviewer Comment (2024-01-11): Updated Note and Deed provided. Buyer Comment (2024-01-09): Deed Buyer Comment (2024-01-09): Note

01/11/2024

1

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

No

220878939

[Redact]

[Redact]

[Redact]

29853556

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-20): (Rate Lock) Delivered [Redact] - [Redact] # [Redact]

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

Non QM

Exempt from ATR

No

220878939

[Redact]

[Redact]

[Redact]

29853557

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-20): (Rate Lock) Delivered [Redact] - [Redact] # [Redact]

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

Non QM

Exempt from ATR

No

220878939

[Redact]

[Redact]

[Redact]

30007520

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower was not provided.

02/16/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

A

A

B

B

A

A

Non QM

Exempt from ATR

No

220880015

[Redact]

[Redact]

[Redact]

29854477

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-05): Collateral delivered on [Redact] via [Redact] tracking [Redact].

03/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220880015

[Redact]

[Redact]

[Redact]

29854478

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-05): Collateral delivered on [Redact] via [Redact] tracking [Redact].

03/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220880015

[Redact]

[Redact]

[Redact]

30086301

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Copy of Guarantor Agreement is not available in file.

Reviewer Comment (2024-03-06): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-03-05): Please see attached Guarantor Agreement.

03/06/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220883631

[Redact]

[Redact]

[Redact]

29861028

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-20): The collateral was delivered [Redact] at 9:18am via [Redact] trk#[Redact].

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220883631

[Redact]

[Redact]

[Redact]

29861029

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-23): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-20): The collateral was delivered [Redact] at 9:18am via [Redact] trk#[Redact].

02/23/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220883631

[Redact]

[Redact]

[Redact]

30019688

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

The file is missing a copy of the Security instrument

Reviewer Comment (2024-02-28): Received Security Instrument. Exception Cleared. Seller Comment (2024-02-26): mortgage attached.

02/28/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220883816

[Redact]

[Redact]

[Redact]

29861346

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-08): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-07): collateral delivered [Redact] via [Redact] [Redact]

03/08/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220883816

[Redact]

[Redact]

[Redact]

29861347

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-08): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-07): collateral delivered [Redact] via [Redact] [Redact]

03/08/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220884653

[Redact]

[Redact]

[Redact]

29865160

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-07): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-07): collateral delivered [Redact] via [Redact] tracking  [Redact]

03/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220884653

[Redact]

[Redact]

[Redact]

29865161

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-07): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-07): collateral delivered [Redact] via [Redact] tracking  [Redact]

03/07/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220884653

[Redact]

[Redact]

[Redact]

30069653

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

File is missing a copy of Business Purpose Certificate.

Reviewer Comment (2024-03-05): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-03-05): Business purpose

03/05/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220885884

[Redact]

[Redact]

[Redact]

29868441

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220885884

[Redact]

[Redact]

[Redact]

29868442

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220886433

[Redact]

[Redact]

[Redact]

29872007

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-02): collateral delivered [Redact] via [Redact] [Redact]

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220886433

[Redact]

[Redact]

[Redact]

29872008

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-06): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-02): collateral delivered [Redact] via [Redact] [Redact]

02/06/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220886433

[Redact]

[Redact]

[Redact]

29876046

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Insurance is insufficient by [Redact].

Reviewer Comment (2024-02-12): Received hazard insurance. Exception Cleared. Seller Comment (2024-02-12): hoi

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220890822

[Redact]

[Redact]

[Redact]

29881150

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220890822

[Redact]

[Redact]

[Redact]

29881151

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220891226

[Redact]

[Redact]

[Redact]

29882564

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-18): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-15): The collateral was delivered [Redact] at 9:23am via [Redact] trk#[Redact].

03/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

D

B

D

B

A

A

N/A

No

220891226

[Redact]

[Redact]

[Redact]

29882565

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-18): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-15): The collateral was delivered [Redact] at 9:23am via [Redact] trk#[Redact].

03/18/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

D

B

D

B

A

A

N/A

No

220891226

[Redact]

[Redact]

[Redact]

30171947

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Rider - Other not provided

Entity Borrower Rider is missing.

Reviewer Comment (2024-03-21): Provided. Exception cleared. Seller Comment (2024-03-21): Please see attached rider.

03/21/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Rate/Term

D

B

D

B

A

A

N/A

No

220891226

[Redact]

[Redact]

[Redact]

30172087

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Reviewer Comment (2024-03-21): Provided. Exception cleared. Seller Comment (2024-03-21): sent attached guaranty agreeement

03/21/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Rate/Term

D

B

D

B

A

A

N/A

No

220891226

[Redact]

[Redact]

[Redact]

30172114

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.

The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

03/14/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Refinance - Rate/Term

D

B

D

B

A

A

N/A

No

220899015

[Redact]

[Redact]

[Redact]

29890399

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220899015

[Redact]

[Redact]

[Redact]

29890400

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-22): (Rate Lock) [Redact]

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220910792

[Redact]

[Redact]

[Redact]

29911930

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220910792

[Redact]

[Redact]

[Redact]

29911931

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-26): Waived on Rate Lock: Collateral cleared by Custodian

02/26/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

220916831

[Redact]

[Redact]

[Redact]

29918914

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220916831

[Redact]

[Redact]

[Redact]

29918915

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220916834

[Redact]

[Redact]

[Redact]

29918979

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-23): The collateral was delivered [Redact] at 9:25am via [Redact] trk#[Redact].

02/27/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220916834

[Redact]

[Redact]

[Redact]

29918980

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-27): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-23): The collateral was delivered [Redact] at 9:25am via [Redact] trk#[Redact].

02/27/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220923281

[Redact]

[Redact]

[Redact]

29942729

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-28): The collateral was delivered [Redact] at 9:27am via [Redact] trk#[Redact].

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220923281

[Redact]

[Redact]

[Redact]

29942730

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-28): The collateral was delivered [Redact] at 9:27am via [Redact] trk#[Redact].

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220924164

[Redact]

[Redact]

[Redact]

29944423

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220924164

[Redact]

[Redact]

[Redact]

29944424

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220937268

[Redact]

[Redact]

[Redact]

29957757

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-19): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220937268

[Redact]

[Redact]

[Redact]

29957758

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-19): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220941948

[Redact]

[Redact]

[Redact]

29965007

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220941948

[Redact]

[Redact]

[Redact]

29965008

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220945450

[Redact]

[Redact]

[Redact]

29967880

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-19): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220945450

[Redact]

[Redact]

[Redact]

29967881

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-19): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220947639

[Redact]

[Redact]

[Redact]

29973947

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): collateral delivered [Redact] via [Redact] tracking [Redact]

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220947639

[Redact]

[Redact]

[Redact]

29973948

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): collateral delivered [Redact] via [Redact] tracking [Redact]

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220947639

[Redact]

[Redact]

[Redact]

30263131

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

File is missing a copy of Business Purpose Certificate.

Reviewer Comment (2024-03-31): Received Business Purpose Certificate. Exception Cleared. Seller Comment (2024-03-29): business purpose

03/31/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220950227

[Redact]

[Redact]

29978954

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status.

Buyer Comment (2024-01-04): Lender acknowledged non-material EV2. Buyer Comment (2024-01-04): Per Lender: This is an Investment loan and disclosure not required - we have proof in the file the appraisal was sent to the borrower

01/04/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

D

B

A

A

D

B

A

A

N/A

N/A

No

220950227

[Redact]

[Redact]

29978955

Compliance

Compliance

Federal Compliance

GSE

FNMA Points and Fees

FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2023). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2023) (an overage of [Redact] or [Redact]).

FNMA Points and Fees on subject loan of [Redact] is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and [Redact] (2023). FNMA Finance Charge total [Redact] on a Original Loan Amount of [Redact] vs. an allowable total of [Redact] and [Redact] (2023) (an overage of [Redact] or [Redact]).

Buyer Comment (2023-12-29): Acknowledged non material

12/29/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

D

B

A

A

D

B

A

A

N/A

N/A

Yes

220950227

[Redact]

[Redact]

29978956

Compliance

Compliance

Federal Compliance

Missing, Incorrect, or Incomplete HUD-1

Missing Final HUD-1:  Title Co. Closing Statement Used For Fee Testing Material

Missing Final HUD-1: Title Company Closing Statement used for any applicable Federal, State or Local compliance testing.

Provide fully executed Final HUD 1.

Reviewer Comment (2024-01-08): Final HUD provided. Reviewer Comment (2024-01-08): The settlement statement provided is what was already in the file. Provide the fully executed Final HUD1. Buyer Comment (2024-01-05): Settlement Statement

01/08/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

B

A

A

D

B

A

A

N/A

N/A

No

220950227

[Redact]

[Redact]

29978959

Compliance

Loan Package Documentation

Application / Processing

Missing, Incorrect, or Incomplete Final or Initial 1003

Missing Document: Missing Lender's Initial 1003

1003 Initial - Lender's document is missing.

Reviewer Comment (2024-01-08): As per Guideline Require Executed Credit application and final 1003 as application Present in the file.  Exception Cleared Buyer Comment (2024-01-05): App Buyer Comment (2024-01-05): Initial signed [Redact] Reviewer Comment (2024-01-05): Received Signed/dated Final 1003 (Signed at closing), however require initial 1003  signed/dated by Borrowers and Loan Originator (Singed at application submission). Exception Remains Buyer Comment (2024-01-04): Initial 1003 Reviewer Comment (2024-01-01): Require Signed/dated Initial 1003 as provided 1003 does not have signed/dated by borrower and Loan Originator. Exception Remains Buyer Comment (2023-12-29): Please cancel the originator's application is in the file; this is a correspondent loan what and the lender would not disclose the 1003 as they are not the originator.

01/08/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Purchase

D

B

A

A

D

B

A

A

N/A

N/A

No

220950228

[Redact]

[Redact]

29978960

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan Designation failure due to QM failure. This exception will be cleared once all QM specific exception have been cured/cleared.

Reviewer Comment (2024-01-23): Credit supplement shows Duplicate account been removed and one tradeline has been paid off. DTI is within guideline limit. Buyer Comment (2024-01-19): Please clear

01/23/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Second Home

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

220950228

[Redact]

[Redact]

29978962

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 51.01309% moderately exceeds the guideline maximum of 50.00%. (DTI Exception is eligible to be regraded with compensating factors.)

DTI exceeds the lender guidelines due to REO PITI payment increased from lender calculated payments.

Reviewer Comment (2024-01-23): Credit supplement shows Duplicate account been removed and one tradeline has been paid off. DTI is within guideline limit. Buyer Comment (2024-01-19): DTI was cleared on duplicate exception. Please clear this exception.

01/23/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Second Home

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220950228

[Redact]

[Redact]

29978964

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

DTI exceeds the lender guidelines due to REO PITI payment increased from lender calculated payments.

Reviewer Comment (2024-01-19): Credit supplement shows Duplicate account been removed and one tradeline has been paid off. DTI leads within guideline limit. Exception cleared Buyer Comment (2024-01-17): 1008 Buyer Comment (2024-01-17): Please see email from UW. There are duplicate accounts and also account is paid off per documents in file. This should take care of the DTI ratios.

01/19/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Second Home

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220950228

[Redact]

[Redact]

29978966

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR related exception. This exception will be cleared once all ATR specific exception have been cured/cleared.

Reviewer Comment (2024-01-23): Credit supplement shows Duplicate account been removed and one tradeline has been paid off. DTI is within guideline limit. Buyer Comment (2024-01-19): Please clear

01/23/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Second Home

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

220950230

[Redact]

[Redact]

29978973

Credit

Guideline

Guideline Issue

Guideline

Verification of housing pay history is required.

Require complete 12 months mortgage payment history Primary property '[Redact]' per guide. verified 3 months payment with [Redact] #[Redact] from [Redact]-[Redact] as per credit supplement.

Reviewer Comment (2024-01-25): Received Title report and Settlement Statement of Primary Property refinance transaction confirmed property free and clear prior to Refinance. Exception Cleared Buyer Comment (2024-01-24): See lox Buyer Comment (2024-01-24): Per lender : Note from Funding dept: we did do the loan for that property and it was already paid off, I'm attaching the title report and the free and clear affidavit. the final hud showing we didn't pay off any mortgages Reviewer Comment (2023-12-14): Fraud Report/Property history report  (Doc ID 189/D0015) Reflected Mortgage Loan taken IAO [Redact] (Probably Private mortgage).  Exception remains . Buyer Comment (2023-12-13): Per lender : Please see email from UW on primary with no mortgage liens prior to [Redact].

01/25/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

C

A

D

A

N/A

No

220950230

[Redact]

[Redact]

29978974

Credit

Business Purpose

Guideline Issue

Business Purpose

Documentation Used to Prove Experience is missing. Please provide the required documentation for each property. I.e. HUD Statement, Tax Return, MLS Data, County Records, etc.

-

Borrower does not have any additional investment properties.

Reviewer Comment (2023-12-14): REO schedule on the URLA loan application is sufficient documentation. Buyer Comment (2023-12-13): Lender's response: Per our correspondent guidelines on page 94 under experienced investor we have satisfied this condition because the property was purchased 2021 (per chain of title). The borrower on the application has never claimed to occupy and used an investment property. We do not require the lease agreement to document experience. Reviewer Comment (2023-12-07): Require previous Rent agreement to support experience requierment listed in guideline. Current Rental agreement started from [Redact] which covers only 9 Months. need to confirm borrower has rented the property in 2022 to meet 12 month investment experience requirement. Exception Remains Buyer Comment (2023-12-06): Per lender: Fraud report shows history of ownership for primary residence and investor experience. please advise if this sufficient for both conditions Reviewer Comment (2023-12-04): Provide previous Rent agreement to support experience requierment listed in guideline. Current Rental agreement started from [Redact] which covers only 9 Months. Exception Remains Guidelines: "Experienced Investors only, borrower must have a history of owning and managing commercial or non-owner occupied residential real estate for at least 1 year in last 3 years" Buyer Comment (2023-12-01): Lender's comments: Fraud report shows borrower has owned primary since 2019. Chain of title shows subject property owned since [Redact]

12/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

C

A

D

A

N/A

No

220950230

[Redact]

[Redact]

29978975

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

Note Date:  ___; Lien Position: ___

The file is missing a copy of the secondary valuation required for securitization purposes.

Reviewer Comment (2023-12-04): UCDP report with CU score less than 2.5 acceptable option for appraisal review product requirement. Exception Cleared Buyer Comment (2023-12-01): there are SSRs on this file with a low risk score.

12/04/2023

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Cash-out - Other

D

A

C

A

D

A

N/A

No

220950232

[Redact]

[Redact]

29978980

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender approved exception to allow 74.879% LTV with DSCR 0.81 and 680 credit score. Comp factors: 9 months of reserves

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

19 vs 3

SitusAMC,Originator

Reviewer Comment (2023-12-08): Approved to waive with compensating factors.

12/08/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Investment

Purchase

B

B

B

B

A

A

N/A

No

220950235

[Redact]

[Redact]

29978986

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Bylaws not provided

By Laws missing for [Redact]

Reviewer Comment (2024-01-30): Bylaws provided. Buyer Comment (2024-01-26): bylaws

01/30/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220950235

[Redact]

[Redact]

29978987

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Corporate Resolution / Operating Agreement missing for [Redact]

Reviewer Comment (2024-01-30): Bwr owns 100%. Buyer Comment (2024-01-26): comment from lender: There is no operating agreement as [Redact] is 100% owner of the entity. Reviewer Comment (2024-01-24): Operating agreement can be used as alternate document for Corporate resolution, however if separate corporate resolution is there, require the same. Exception Remains Buyer Comment (2024-01-23): Could you please confirm if the Corporate Resolution is required. Pursuit to guidelines only the operating agreement is required.

01/30/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

220950315

[Redact]

[Redact]

[Redact]

29979571

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-28): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220950315

[Redact]

[Redact]

[Redact]

29979572

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-02-28): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-02-28): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

02/28/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220957970

[Redact]

[Redact]

[Redact]

29988081

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220957970

[Redact]

[Redact]

[Redact]

29988082

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

220958312

[Redact]

[Redact]

[Redact]

29988344

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220958312

[Redact]

[Redact]

[Redact]

29988345

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220965592

[Redact]

[Redact]

[Redact]

29997879

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-11): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-08): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/11/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220965592

[Redact]

[Redact]

[Redact]

29997880

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-11): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-08): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

03/11/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220965592

[Redact]

[Redact]

[Redact]

30092015

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Tax Certificate not provided

Please provide a copy of the tax cert used to calculate the taxes, the amount that was used on the final CD is [Redact] higher then what was disclosed on the title.

Reviewer Comment (2024-03-06): Received Tax Certificate. Exception Cleared. Seller Comment (2024-03-05): Please see attached tax info.  Amounts are highlighted in Yellow.

03/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220965592

[Redact]

[Redact]

[Redact]

30092763

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

The file was missing a copy of the Guarantor Agreement.

Reviewer Comment (2024-03-06): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-03-05): Please see attached guaranty agreement.

03/06/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220972890

[Redact]

[Redact]

[Redact]

30021481

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-25): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-22): collateral delivered [Redact] via [Redact] tracking [Redact]

03/25/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220972890

[Redact]

[Redact]

[Redact]

30021482

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-25): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-22): collateral delivered [Redact] via [Redact] tracking [Redact]

03/25/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220972891

[Redact]

[Redact]

[Redact]

30021524

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-21): Collateral delivered [Redact] via [Redact] [Redact] Seller Comment (2024-03-20): collateral delivered [Redact] via [Redact] tracking [Redact]

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220972891

[Redact]

[Redact]

[Redact]

30021525

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-22): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-20): collateral delivered [Redact] via [Redact] tracking [Redact]

03/22/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220973349

[Redact]

[Redact]

[Redact]

30023130

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220973349

[Redact]

[Redact]

[Redact]

30023131

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-19): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-03-18): collateral delivered [Redact] via [Redact] [Redact]

03/19/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220973349

[Redact]

[Redact]

[Redact]

30169741

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Reviewer Comment (2024-03-17): Received Guarantor Agreement. Exception Cleared. Seller Comment (2024-03-15): Guarantor Agreement attached.

03/17/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

D

A

D

A

A

A

N/A

No

220987090

[Redact]

[Redact]

[Redact]

30045151

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-04-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-04): collateral delivered [Redact] via [Redact] tracking [Redact]

04/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220987090

[Redact]

[Redact]

[Redact]

30045152

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-04-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-04): collateral delivered [Redact] via [Redact] tracking [Redact]

04/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220987090

[Redact]

[Redact]

[Redact]

30281933

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Reviewer Comment (2024-04-03): Business purpose certificate received. Seller Comment (2024-04-03): business purpose

04/03/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220987090

[Redact]

[Redact]

[Redact]

30281934

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Reviewer Comment (2024-04-02): Agreement provided. Exception cleared. Seller Comment (2024-04-02): Guarantor Agreement

04/02/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Purchase

D

A

D

A

A

A

N/A

No

220989692

[Redact]

[Redact]

[Redact]

30049634

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220989692

[Redact]

[Redact]

[Redact]

30049635

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220989692

[Redact]

[Redact]

[Redact]

30261557

Credit

Missing Document

General

Missing Document

Missing Document: HUD/CD not provided

Final Closing Disclosure is missing.

Reviewer Comment (2024-04-02): Final CD provided. Exception cleared. Seller Comment (2024-04-01): Please see attached CD

04/02/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

220992745

[Redact]

[Redact]

[Redact]

30056722

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): The collateral was delivered [Redact] at 8:00 a.m. via [Redact] trk#[Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220992745

[Redact]

[Redact]

[Redact]

30056723

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): The collateral was delivered [Redact] at 8:00 a.m. via [Redact] trk#[Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

220994897

[Redact]

[Redact]

[Redact]

30064235

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-04-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-04): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

04/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

220994897

[Redact]

[Redact]

[Redact]

30064236

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-04-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-04): Collateral delivered on [Redact] via [Redact] tracking number [Redact].

04/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

220994897

[Redact]

[Redact]

[Redact]

30287442

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Reviewer Comment (2024-04-03): Disclosure provided Seller Comment (2024-04-03): Please see attached business purpose cert.

04/03/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Limited Cash-out GSE

C

A

C

A

A

A

N/A

No

221002141

[Redact]

[Redact]

[Redact]

30072789

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-03-25): Waived on Rate Lock: Collateral cleared by Custodian

03/25/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

221002141

[Redact]

[Redact]

[Redact]

30072790

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-03-25): Waived on Rate Lock: Collateral cleared by Custodian

03/25/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

221002141

[Redact]

[Redact]

[Redact]

30218597

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Tax Certificate not provided

Please provide the tax cert used to calculate the taxes for the property, the tax calculator provided doesn't match the final CD.

Reviewer Comment (2024-03-26): Received Tax Certificate. Exception Cleared. Seller Comment (2024-03-25): The UW based the tax amount on the mill rate x the purchase price.   Per attached from the county, the mill rate is 13.9649, purchase price is [Redact].  The calculation results in an annual tax amount of [Redact]or [Redact]/month.

03/26/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

221007130

[Redact]

[Redact]

[Redact]

30080214

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): Collateral delivered on [Redact] via [Redact] tracking [Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

D

A

D

A

A

A

N/A

No

221007130

[Redact]

[Redact]

[Redact]

30080215

Credit

Collateral

Missing/Incorrect

Collateral

Missing tracking number for delivery of collateral file.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): Collateral delivered on [Redact] via [Redact] tracking [Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Rate/Term

D

A

D

A

A

A

N/A

No

221007130

[Redact]

[Redact]

[Redact]

30262209

Credit

Loan Package Documentation

Closing / Title

Missing, Incorrect, or Incomplete Note

Missing Document: Note - Subject Lien not provided

Note document is incomplete, missing page 3 of 4.

Reviewer Comment (2024-04-01): Received Note. Exception Cleared. Seller Comment (2024-04-01): Please see attached Note.

04/01/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Rate/Term

D

A

D

A

A

A

N/A

No

221007130

[Redact]

[Redact]

[Redact]

30262210

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Lost Note Affidavit not provided

Note document is incomplete, missing page 3 of 4.

Reviewer Comment (2024-04-01): Received Note. Exception Cleared. Seller Comment (2024-04-01): Please see attached Note.

04/01/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Investment

Refinance - Rate/Term

D

A

D

A

A

A

N/A

No

221028267

[Redact]

[Redact]

[Redact]

30104659

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.

Buyer Comment (2024-04-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-09): The collateral was delivered [Redact] at 8:47am via [Redact] trk#[Redact].

04/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

221028267

[Redact]

[Redact]

[Redact]

30319798

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy effective date is after the funds disbursed.

The Hazard Insurance Policy effective date is after consummation.  Provide a revised declarations page or policy verifying coverage at or prior to consummation.

Reviewer Comment (2024-04-11): HOI policy provided. Exception cleared. Seller Comment (2024-04-10): hoi policy

04/11/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

N/A

No

221028340

[Redact]

[Redact]

[Redact]

30104738

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.

Buyer Comment (2024-04-10): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-09): The collateral was delivered [Redact] at 8:47am via [Redact] trk#[Redact].

04/10/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

221029171

[Redact]

[Redact]

30107594

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Incomplete Closing Disclosure(s), which appear to have been generated by the closing agent, are included in analysis.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029171

[Redact]

[Redact]

30107595

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Incomplete Closing Disclosure(s), which appear to have been generated by the closing agent, are included in analysis.  Issue date is not disclosed on the document.

Reviewer Comment (2024-02-07): Omitted incomplete CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

Good Faith Redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029171

[Redact]

[Redact]

30107597

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-12): E-Sign document provided Buyer Comment (2024-02-09): Econsent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029171

[Redact]

[Redact]

30107599

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue and Received Date >  Closing Disclosure Issue and Received Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided. (The Revised Loan Estimate was received on or after the Closing Disclosure.)

Incomplete Closing Disclosure(s), which appear to have been generated by the closing agent, are included in analysis.  Incomplete document was issued on [Redact], however, final revised Loan Estimate was issued on [Redact].

Reviewer Comment (2024-02-07): Omitted incomplete CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

No Defined Cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029171

[Redact]

[Redact]

30107600

Compliance

Compliance

State Compliance

State Defect

(TX50(a)(6)) Texas Cash-out Loan  (Points and Fees Exceeds 2% of Original Principal Balance)

[Redact] Constitution Section 50(a)(6): Points and fees on subject loan of [Redact] is in excess of the allowable maximum of 2.0000% of the Original Principal Loan Amount. Points and Fees total [Redact] on an Original Principal Loan Amount of [Redact] vs. an allowable total of [Redact] (an overage of [Redact] or [Redact].)

Total points & fees of [Redact] ([Redact]) exceeds 3% threshold of [Redact] due to inclusion of Appraisal Management Company Fee, which is not excluded from testing.

Reviewer Comment (2024-02-21): Cure documentation received including LOE, refund check, and proof of delivery. Buyer Comment (2024-02-20): LOE, PCCD, refund check and tracking Reviewer Comment (2024-02-15): The AMC (Appraisal Management Company) fee of [Redact] is included in [Redact] Equity Points and Fees based on [Redact] Admin Code RULE §153.5 (13): Exclusion for Appraisal Fee. A fee for an appraisal performed by a third party appraiser is not a fee subject to the two percent limitation. The appraisal must be performed by a person who is not an employee of the lender. The excludable appraisal fee is limited to the amount paid to the appraiser for the completion of the appraisal, and does not include an appraisal management services fee described by [Redact] Occupations Code, §1104.158(a)(2).  The inclusion of the AMC fee as a finance charge is based on 1026.4(c)(7)(iv) and commentary, which excludes from finance charges appraisal fees to assess the value or condition of the property and fees for verifying or confirming information connected to the appraisal. However, fees for selecting and coordinating with an appraiser, and facilitating the ordering, tracking, and delivery of appraisals are not excluded and would be examples of services that would be considered finance charges. Buyer Comment (2024-02-14): Appraisal Invoice - please see the highlighted explanation of the appraisal management fee - lender did not include as a finance charge Reviewer Comment (2024-02-13): Corrected CD, LOE to borrower, copy of cure refund, proof of delivery and if a rescindable transaction, the proof of reopening of rescission to all consumers is also required to cure. Buyer Comment (2024-02-08): Please confirm this may be cured with a refund to the borrower of [Redact] and that this amount will also cure the Finance charge condition.

02/21/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Refinance - Cash-out - Home Improvement

Refund the borrower, or credit their account, an amount equal to any overcharge paid by the borrower. (Provide Proof of Delivery, LOE, and Copy of Check. [A servicing screen print can be provided in place of a check when a credit is applied to the borrowers account.])

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029171

[Redact]

[Redact]

30107601

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redact] disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of [Redact] is under disclosed by [Redact] compared to the calculated Finance Charge of [Redact] which exceeds the [Redact] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redact]).

Finance Charge disclosed on Final Closing Disclosure is [Redact]. Due Diligence Finance Charge is [Redact]. There is a variance of -[Redact].

Reviewer Comment (2024-02-14): [Redact] received documentation of Appraisal management fee purpose. Buyer Comment (2024-02-14): Please see uploaded LOX on Appraisal Invoice re: management fee Buyer Comment (2024-02-12): Please see the exception regarding the points and fees. The request below was to please confirm that the [Redact] required for the points & fees under-disclosure will also be sufficient to cure this exception. Reviewer Comment (2024-02-12): Total amount of finance charge under disclosure appears to be [Redact]. Remediation requires PCCD, LOE, Copy of refund check, Reopening of rescission and proof of delivery. Buyer Comment (2024-02-08): Please confirm this may be cured with a refund to the borrower of [Redact] and that this amount will also cure the Finance charge condition.

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029173

[Redact]

[Redact]

30107606

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Date Issued and 5th page Loan Calculation data is missing

Reviewer Comment (2024-02-07): No issue date, not terms listed.

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029173

[Redact]

[Redact]

30107608

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-12): E-Sign document providedd Buyer Comment (2024-02-07): Esign consent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029173

[Redact]

[Redact]

30107612

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue and Received Date >  Closing Disclosure Issue and Received Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided. (The Revised Loan Estimate was received on or after the Closing Disclosure.)

Final LE issued [Redact]. Initial CD issued [Redact].

Reviewer Comment (2024-02-07): Omitted incomplete CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029173

[Redact]

[Redact]

30107613

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Date Issued and 5th page Loan Calculation data is missing

Reviewer Comment (2024-02-07): Omitted incomplete CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

221029173

[Redact]

[Redact]

30107615

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The loan file is missing comparable rent schedule form 1007 or rent estimate for the borrower's departure residence as required by guidelines.

Reviewer Comment (2024-02-12): Cleared Buyer Comment (2024-02-12): Pleas clear this was cleared in another exception

02/12/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

221029173

[Redact]

[Redact]

30107616

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The loan file is missing comparable rent schedule form 1007 or rent estimate for the borrower's departure residence as required by guidelines.

Reviewer Comment (2024-02-12): [Redact] Rent Zestimate or equivalent provided

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029173

[Redact]

[Redact]

30107617

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

The loan file is missing comparable rent schedule form 1007 or rent estimate for the borrower's departure residence as required by guidelines.

Reviewer Comment (2024-02-12): [Redact] Rent Zestimate or equivalent provided

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029173

[Redact]

[Redact]

30107618

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The loan file is missing comparable rent schedule form 1007 or rent estimate for the borrower's departure residence as required by guidelines.

Reviewer Comment (2024-02-12): [Redact] Rent Zestimate or equivalent provided. Buyer Comment (2024-02-08): See attached Buyer Comment (2024-02-08): Lease

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029173

[Redact]

[Redact]

30107619

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan file is missing comparable rent schedule form 1007 or rent estimate for the borrower's departure residence as required by guidelines.

Reviewer Comment (2024-02-12): Cleared Buyer Comment (2024-02-12): Pleas clear this was cleared in another exception

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029182

[Redact]

[Redact]

30107711

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

1st page issue date, 4th and 5th page data is missing

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029182

[Redact]

[Redact]

30107712

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Reviewer Comment (2024-02-18): Exception cleared based on Appraisal Transfer Letter in file from transferring lender. Buyer Comment (2024-02-15): Please note appraisal transfer letter already in file - see D0287 Buyer Comment (2024-02-15): Please re-review and if exception remains, provide further details on requirement not met

02/18/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029182

[Redact]

[Redact]

30107714

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure Issue Date Not Provided

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

Good Faith Redisclosure

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

221029182

[Redact]

[Redact]

30107716

Credit

Credit

Public Records

Credit

Public Records/Collections/Charge Off does not meet guidelines.

Charge off account with balance of [Redact].

Reviewer Comment (2024-02-08): Borrower has sufficient reserves. Allowed per gls.

02/08/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107726

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

E-sign Consent Agreement is missing.

Reviewer Comment (2024-02-14): E-Sign document provided Buyer Comment (2024-02-13): Esign consent

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107728

Credit

Missing Document

General

Missing Document

Missing Document: Verification of Non-US Citizen Status not provided

Verification of Non-US Citizen Status is missing

Reviewer Comment (2024-02-14): Driver license and IRS assigning the ITIN provided Buyer Comment (2024-02-12): ITIN

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107729

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Issue date missing also 4th page and 5th page data missing

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107731

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Reviewer Comment (2024-02-21): Exception cleared based on Appraisal Transfer Letter in file from transferring lender. Buyer Comment (2024-02-16): See Appraisal Transfer letter on D0156

02/21/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107732

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2024-02-11): Acknowledged non material EV2

02/11/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029184

[Redact]

[Redact]

30107734

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Reviewer Comment (2024-02-14): Counseling list provided Buyer Comment (2024-02-13): HCL and Acknowledgment

02/14/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107735

Compliance

Compliance

State Compliance

Misc. State Level

Maryland Counseling Agencies Disclosure Not in File

[Redact] HB1399 - No evidence of counseling agencies list or required counseling disclosure language per [Redact] HB 1399.

Buyer Comment (2024-02-22): Lender acknowledged non material EV2. Reviewer Comment (2024-02-14): Missing the [Redact] specific housing counseling dosclosure Buyer Comment (2024-02-13): Please see uploaded Homeowners Counseling List and acknowledgment

02/22/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107736

Compliance

Compliance

State Compliance

State HPML

(State HPML Disclosure) Maryland Higher-Priced Mortgage Loan (Disclosure of Non-HPML Loans Borrower Qualifies For Not Provided)

[Redact] Higher-Priced Mortgage Loan:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for.

Reviewer Comment (2024-02-21): Cleared based on attestation from lender that lender does not offer any Non-HPML options to the borrower; therefore, disclosure not required. Buyer Comment (2024-02-16): Lender Attestation - please see attached attestation from lender regarding HPML disclosure

02/21/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

Lender attestation indicating that (1) the borrower did not qualify for any non-higher-priced loans or (2) the lender does not offer non-higher-priced loans.

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107737

Compliance

Compliance

State Compliance

State HPML

[Redact] HPML Threshold Test Non-Compliant

[Redact] Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Loan.

Reviewer Comment (2024-02-21): Cleared based on attestation from lender that lender does not offer any Non-HPML options to the borrower; therefore, disclosure not required. Buyer Comment (2024-02-16): Please see uploaded lender attestation re: non HPML options

02/21/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107740

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029184

[Redact]

[Redact]

30107743

Compliance

Compliance

Federal Compliance

Missing Application Date

Missing Initial Loan Application Test

No evidence of application date located in file.  Compliance tests were run using an application date of [Redact] which is 1 months prior to consummation. A lookback was performed to determine this application date.

Reviewer Comment (2024-02-14): Initial 1003 application provided

02/14/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107744

Compliance

Compliance

Federal Compliance

TILA

NMLS - Missing Evidence of Initial Loan Application Date

Truth in Lending Act (NMLSR Dodd- Frank 2014): Unable to determine compliance with NMLSR timing requirements due to missing evidence of initial loan application date.

Reviewer Comment (2024-02-14): Initial 1003 application provided Buyer Comment (2024-02-13): Loan Application

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107745

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - Affiliated Business Arrangement Disclosure Not Provided Within 3 Business Days of Application

RESPA Disclosure Rule: Unable to determine if Creditor provided Affiliated Business Arrangement Disclosure to applicant within three (3) business days of application due to missing information.

Reviewer Comment (2024-02-12): ABA in file is for the realtor and not the lender. Buyer Comment (2024-02-11): Please cancel. This affiliate disclosure is from the realtor and not the lender.

02/12/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107746

Compliance

Loan Package Documentation

Application / Processing

Missing, Incorrect, or Incomplete Final or Initial 1003

Missing Document: Missing Lender's Initial 1003

Reviewer Comment (2024-02-14): Initial 1003 applciation provided Buyer Comment (2024-02-13): Please see uploaded 1003

02/14/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107747

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - Affiliated Business Arrangement Disclosure Missing

RESPA Disclosure Rule: Creditor did not provide Affiliated Business Arrangement Disclosure to borrower.

Reviewer Comment (2024-02-21): Signed and dated ABA disclosure provdided Buyer Comment (2024-02-20): Affiliated business disclosure

02/21/2024

1

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107749

Compliance

Compliance

Federal Compliance

TRID

TRID Settlement Service Provider Status

TILA-RESPA Integrated Disclosure: Borrower not provided with list of service providers.

SSPL not provided

Reviewer Comment (2024-02-19): [Redact] received updated Settlement Service Provider List.

02/19/2024

1

A

A

A

A

A

[Redact]

Primary

Purchase

No Defined Cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029184

[Redact]

[Redact]

30107750

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Insufficient or no cure was provided to the borrower.

The calculation is off because we have no SSPL which will assume the 10% exception by default since we have no way to know if the borrower shopped or not. The exception is valid. When a SSPL is entered into the system the exception will probably change, depending on VCC's and shopped or not shopped.

Reviewer Comment (2024-02-19): [Redact] received updated SSPL, The consumer was allowed to shop for service and the Title fees were not bound by a tolerance. Buyer Comment (2024-02-16): Settlement Service Provider list

02/19/2024

1

A

A

A

A

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029186

[Redact]

[Redact]

30107761

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2024-02-07): Acknowledged non material EV2

02/07/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

221029186

[Redact]

[Redact]

30107762

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered to Borrower(s) within three (3) business days of application. Initial Loan Estimate dated [Redact] was electronically provided without or prior to borrower's consent to receive electronic disclosures. Failure to comply with the provisions of the E-Sign Act and failure to provide good faith estimate of fees timely may result in additional fee tolerance violations.

Reviewer Comment (2024-02-09): [Redact] received earliest e-consent. Buyer Comment (2024-02-08): Esign consent

02/09/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

221029186

[Redact]

[Redact]

30107763

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Insufficient employment documentation caused a loan designation failure.

Reviewer Comment (2024-02-07): Loan is Non-QM. Buyer Comment (2024-02-07): Please remove due to not needing tax returns on other exception

02/07/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

221029186

[Redact]

[Redact]

30107764

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - Schedule C

Ability to Repay (Dodd-Frank 2014): Unable to verify Sole Proprietorship income using reasonably reliable third-party records.

Missing signed tax returns.

Reviewer Comment (2024-02-07): Signed returns are not required. Buyer Comment (2024-02-07): Program is [Redact] P&L Only - tax returns are not required; please remove exception

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

221029187

[Redact]

[Redact]

30107768

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-12): E-sign Consent agreement document received, Exception Cleared. Buyer Comment (2024-02-08): Esign Consent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

221029187

[Redact]

[Redact]

30107769

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Closing Disclosure dated [Redact] is missing information on pages 1,4, and 5.

Reviewer Comment (2024-02-07): Draft CD. Buyer Comment (2024-02-07): Please cancel the CD in question D0204 is a draft CD and not a valid CD

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

221029187

[Redact]

[Redact]

30107771

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount.

Buyer Comment (2024-02-07): Acknowledged non material EV2

02/07/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

221029187

[Redact]

[Redact]

30107774

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue and Received Date >  Closing Disclosure Issue and Received Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided. (The Revised Loan Estimate was received on or after the Closing Disclosure.)

Revised Loan Estimate provided on or after the date the Closing Disclosure [Redact] was provided.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

221029187

[Redact]

[Redact]

30107776

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Business used to qualify not in existence for 2 years as required by Guidelines.

Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors.

Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-02-05): Lender Exception with Compensating Factors.

02/05/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

221029188

[Redact]

[Redact]

30107777

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-12): Received e-sign consent agreement. Exception cleared Buyer Comment (2024-02-07): Esign Consent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029188

[Redact]

[Redact]

30107779

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Incomplete Closing disclosure is provided.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested Buyer Comment (2024-02-06): Please review final CD in file  D0234 issued [Redact]. The CD is completed and signed. Please clear this exception

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029188

[Redact]

[Redact]

30107782

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Attorney's Fee (Closing Agent and Other).  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Attorney's Fee was not disclosed on Loan Estimate.  File does not contain a valid COC for this fee, nor evidence of cure.  Provide a post-close CD disclosing the tolerance cure to include [Redact], a copy of refund check, proof of delivery, and a copy of the letter of explanation sent to the borrower disclosing the changes made.

Reviewer Comment (2024-02-22): [Redact] received Post CD ,LOX,Copy of refund check and proof of mailing. Buyer Comment (2024-02-21): LOE, PCCD, refund check and label Reviewer Comment (2024-02-07): [Redact] Attorney's Fees-Buyer fee was added is in sec C of Final CD and not disclosed any of the LE's. Also, the fee was payable to "[Redact]" and was not paid to the same provider as the other title fee. Provide corrected PCCD is issued with an LOE to move the fee from Section C to H. Otherwise a Cure is required to borrower. Buyer Comment (2024-02-07): Please cancel. This fee should not be subject to any fee tolerance as this is a shoppable service fee that was the borrower's choice

02/22/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029190

[Redact]

[Redact]

30107798

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-12): E-Sign Consent Agreement received and updated. Exception cleared Buyer Comment (2024-02-07): Econsent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107803

Property

Valuation

Valuation Issue

Valuation

[Redact] program guidelines require a CDA (Desk Review)

CDA was not provided.

Reviewer Comment (2024-02-13): CU score is 1.0.  CDA not required. Buyer Comment (2024-02-07): CU score 1

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107804

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Loan file missing two months business bank statement and a Corrected Business Narrative. The Narrative states the borrower is 100% owner, yet the CPA letter reflects 80% and there is an access letter from a business partner allowing the use of business funds.

Reviewer Comment (2024-02-20): Loan was submitted as a Co-Mingled bank statement loan and not a Personal Bank Statement loan. Buyer Comment (2024-02-15): Lender's rebuttal: CPA letter overrides the business narrative. 1008 shows as 80%, which is worst case scenario. Corrected narrative would seem to be just clerical.

02/20/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107805

Credit

Missing Document

General

Missing Document

Missing Document: Account Statements - Business not provided

Two months business bank statements required.

Reviewer Comment (2024-02-20): Loan was submitted as a Co-Mingled bank Statement loan and not a Personal Bank Statement loan. Buyer Comment (2024-02-16): Updated 1008 attached showing underwritten as co-mingled. Buyer Comment (2024-02-15): Lender's comment: Underwritten as co-mingled. What would be needed to show this? Reviewer Comment (2024-02-13): Comment states disregard below comment. Buyer Comment (2024-02-06): Disregard the below Buyer Comment (2024-02-06): Business assets are not listed as an Asset [Redact] considered. I show a [Redact] business acct #[Redact] (D0287 , pg 411, however it is not listed as an asset)  all other statements are personal. Please advise

02/20/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107806

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan file missing two months business bank statement and a Corrected Business Narrative. The Narrative states the borrower is 100% owner, yet the CPA letter reflects 80% and there is an access letter from a business partner allowing the use of business funds.

Reviewer Comment (2024-03-01): Lender exception provided.

03/01/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

C

A

Non QM

Non QM

Yes

221029190

[Redact]

[Redact]

30107807

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.  Also difference in CPA letter states 80% ownership and self-employment business narrative states 100% ownership.

Reviewer Comment (2024-03-01): Lender exception provided. Reviewer Comment (2024-02-20): Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.  Also difference in CPA letter states 80% ownership and self-employment business narrative states 100% ownership. Buyer Comment (2024-02-15): Lender's  rebuttal: CPA letter overrides the business narrative. 1008 shows as 80%, which is worst case scenario. Corrected narrative would seem to be just clerical.

03/01/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107808

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.  Also difference in CPA letter states 80% ownership and self-employment business narrative states 100% ownership.

Reviewer Comment (2024-03-01): Lender exception provided. Reviewer Comment (2024-02-20): Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.  Also difference in CPA letter states 80% ownership and self-employment business narrative states 100% ownership. Buyer Comment (2024-02-15): Duplicate

03/01/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107809

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.  Also difference in CPA letter states 80% ownership and self-employment business narrative states 100% ownership.

Miscellaneous Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

DTI is 37% and max DTI is 50%

Originator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2024-03-01): Lender exception provided. Buyer Comment (2024-02-29): [Redact] accepts, please clear the exception. Reviewer Comment (2024-02-20): Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.  Also difference in CPA letter states 80% ownership and self-employment business narrative states 100% ownership. Buyer Comment (2024-02-15): Duplicate

03/01/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107810

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.

Miscellaneous Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

DTI is 37% and max DTI is 50%

Originator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2024-03-01): Lender exception provided. Buyer Comment (2024-02-29): [Redact] accepts. Please clear the exception.

03/01/2024

2

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029190

[Redact]

[Redact]

30107811

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Loan submitted as a Co-Mingled bank statement qualification loan but does not meet the 100% ownership requirement.  (Borrower must be sole owner of the business (borrower and spouse with combined 100% ownership eligible).")  CPA letter, 1008 and income analysis worksheet all verified 80% ownership.  Also difference in CPA letter states 80% ownership and self-employment business narrative states 100% ownership.

Miscellaneous Borrower has been employed in the same industry for more than 5 years. Borrower has verified disposable income of at least [Redact]. Borrower has worked in the same position for more than 3 years. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and [Redact]. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

DTI is 37% and max DTI is 50%

Originator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2024-03-01): Lender exception provided. Buyer Comment (2024-02-29): [Redact] accepts.  Please clear the exception.

03/01/2024

2

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

B

C

A

C

A

Non QM

Non QM

No

221029192

[Redact]

[Redact]

30107819

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Missing undiscounted rate and undiscounted pricing.

Buyer Comment (2024-02-06): Acknowledged non material EV2

02/06/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029192

[Redact]

[Redact]

30107820

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Interim Closing Disclosure Timing Test

TILA-RESPA Integrated Disclosure - Corrected Closing Disclosure provided on or after [Redact] contains a change in loan product and was not received by borrower at least three (3) business days prior to consummation.

Reviewer Comment (2024-02-06): CD referenced did not list an issue date or loan terms. Buyer Comment (2024-02-06): Please cancel, there is no evidence of any post dated CD in the file showing a different product. The final CD is [Redact] and the only revised CD is dated [Redact] and based on the mailbox rule the CD dated [Redact] was disclosed 3 business days prior to closing [Redact].

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TRID timing exception, no remediation available.

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029192

[Redact]

[Redact]

30107822

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Incomplete CD.

Reviewer Comment (2024-02-06): CD referenced did not list an issue date or loan terms. Buyer Comment (2024-02-06): Please cancel the CD in question (D0205 &D0207) are not valid CD's and was not generated from the lender's LOS. The only valid CD's are issued [Redact]; [Redact] & [Redact]

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029192

[Redact]

[Redact]

30107824

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-12): Received e-sign consent agreement. Exception cleared Buyer Comment (2024-02-07): Esign consent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107826

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].

Reviewer Comment (2024-02-15): Verifed copy of appraisal emailed to borrower on [Redact] but do not have proof of receipt from the borrower so system defalts to [Redact] which is less than 3 business days from consumation date [Redact]. Reviewer Comment (2024-02-15): Verified email appraisal delivery date to borrower was [Redact]

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107827

Compliance

Compliance

State Compliance

State HPML

(State HPML Disclosure) Maryland Higher-Priced Mortgage Loan (Disclosure of Non-HPML Loans Borrower Qualifies For Not Provided)

[Redact] Higher-Priced Mortgage Loan:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for.

[Redact] Higher-Priced Mortgage Loan:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for.

Reviewer Comment (2024-02-20): Cleared based on attestation from lender that lender does not offer any Non_HPML optios to the borrower; therefore, disclosure not required Buyer Comment (2024-02-16): Lender Attestation - please review attached - borrower did not qualify for, nor does lender provide any non HPML options therefore they do not provide this disclosure

02/20/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

Lender attestation indicating that (1) the borrower did not qualify for any non-higher-priced loans or (2) the lender does not offer non-higher-priced loans.

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107828

Compliance

Compliance

State Compliance

State HPML

[Redact] HPML Threshold Test Non-Compliant

[Redact] Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Loan.

APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Loan.

Reviewer Comment (2024-02-20): Cleared based on attestation from lender that lender does not offer any Non_HPML optios to the borrower; therefore, disclosure not required Buyer Comment (2024-02-16): Please see uploaded Lender Attestation for review - borrower did not qualify for, nor does lender provide any non HPML options therefore they do not provide this disclosure

02/20/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107829

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue Date >  Closing Disclosure Issue Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided.

Revised Loan Estimate Issued [Redact] was provided on the same date of Incomplete Closing Disclosure with estimated issue date.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107831

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029193

[Redact]

[Redact]

30107832

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029193

[Redact]

[Redact]

30107833

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Insufficient or no cure was provided to the borrower.

[Redact] violation due to increase in Recording Fees. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-02-21): [Redact] received Post CD,LOX,Copy of refund check and proof of mailing. Buyer Comment (2024-02-20): Cure documenation, LOE, PCCD, Check, and Tracking (tracking not required for cure under [Redact]) Reviewer Comment (2024-02-13): [Redact] received Changed Circumstance dated [Redact],  but it does not give sufficient information on why the recording fee was increased. The receipt of an invoice or updated ore CD received is not a valid changed circumstance in order for a fee to be re-baselined. In order to determine if the changed circumstance is valid more information is necessary on reason for fee increase and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check. Buyer Comment (2024-02-13): [Redact] CD and COC

02/21/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029193

[Redact]

[Redact]

30107834

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-15): E-Sign document provided. Buyer Comment (2024-02-14): Esign consent

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107836

Credit

Missing Document

General

Missing Document

Missing Document: Verification of Non-US Citizen Status not provided

Provide missing Verification of Non-US Citizenship Status.

Reviewer Comment (2024-02-15): Driver license and IRS taxpayer ITIN assigned. Buyer Comment (2024-02-12): Itin

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107837

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Closing Disclosure Is Incomplete due to missing Issue Date. Estimated issue date is [Redact].

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107838

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Closing Disclosure is Incomplete due to missing Issue Date. Estimated issue date is [Redact].

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107839

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Appraisal Not Obtained Timely)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Appraisal not obtained prior to consummation.

No evidence in file Borrower received appraisal prior to consummation.

Reviewer Comment (2024-02-15): Verified email appraisal delivery date to borrower was [Redact] Buyer Comment (2024-02-13): Please see uploaded appraisal delivery

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107840

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Evidence of Borrower receipt of Appraisal was not provided.

Reviewer Comment (2024-02-20): Verified borower receipt of appraisal on [Redact] per Borrower Appraisal Receipt Notice and Acknowledgement. Buyer Comment (2024-02-16): Please re-review. The received date should be entered as [Redact]. The provided proof of delivery specifically states "The borrower received a copy of the appraisal file concerning the subject property address listed below, at least three business days prior to signing loan documents (also called the loan closing)." and this proof of delivery is dated [Redact]. Reviewer Comment (2024-02-15): Verifed copy of appraisal emailed to borrower on [Redact] but do not have proof of receipt from the borrower so system defalts to [Redact] which is less than 3 business days from consumation date [Redact]. Buyer Comment (2024-02-13): Appraisal delivery

02/20/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107841

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Evidence of Borrower receipt of Appraisal was not provided.

Reviewer Comment (2024-02-15): Verified email appraisal delivery date to borrower was [Redact] Buyer Comment (2024-02-13): Please see uploaded appraisal delivery

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107842

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide a copy of the appraisal report delivered to the borrower [Redact].

Reviewer Comment (2024-02-15): Verifed copy of appraisal emailed to borrower on [Redact]. Buyer Comment (2024-02-12): Appraisal

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029193

[Redact]

[Redact]

30107844

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-02-20): Verified borower receipt of appraisal on [Redact] per Borrower Appraisal Receipt Notice and Acknowledgement. Buyer Comment (2024-02-16): Please re-review. The received date should be entered as [Redact]. The provided proof of delivery specifically states "The borrower received a copy of the appraisal file concerning the subject property address listed below, at least three business days prior to signing loan documents (also called the loan closing)." and this proof of delivery is dated [Redact]. Reviewer Comment (2024-02-15): Verifed copy of appraisal emailed to borrower on [Redact] but do not have proof of receipt from the borrower so system defalts to [Redact] which is less than 3 business days from consumation date [Redact].

02/20/2024

1

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029194

[Redact]

[Redact]

30107845

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure dated [Redact] does not disclose a date issued. Page 4 and 5 are blank.

Reviewer Comment (2024-02-06): CD referenced did not list an issue date or loan terms. Buyer Comment (2024-02-06): Please cancel. CD dated [Redact] is not a valid CD and both documents with this date is stamped "ESTIMATE"

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029194

[Redact]

[Redact]

30107846

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Missing 4506-C

Reviewer Comment (2024-02-20): Signed and dated 4506-C with tax years provided Buyer Comment (2024-02-15): Completed 4506C Reviewer Comment (2024-02-12): Exception remains. In the provided 4506-C, Year or period requested is blank. Still need the 4506-C for borrower reflecting Year or Period Requested details in section-8. Buyer Comment (2024-02-07): 4506C

02/20/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029194

[Redact]

[Redact]

30107847

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Closing Disclosure dated [Redact] does not disclose a date issued. Page 4 and 5 are blank.

Reviewer Comment (2024-02-06): CD referenced did not list an issue date or loan terms. Buyer Comment (2024-02-06): Please cancel. This is not a valid CD also the document  has stamp stating "ESTIMATE" (D0252 & D0254)

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029194

[Redact]

[Redact]

30107848

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Interim Closing Disclosure Timing Test

TILA-RESPA Integrated Disclosure - Corrected Closing Disclosure provided on or after [Redact] contains a change in APR and was not received by borrower at least three (3) business days prior to consummation

Preceeding CD was incomplete. Closing Disclosure dated [Redact] does not disclose a date issued. Page 4 and 5 are blank.

Reviewer Comment (2024-02-06): CD referenced did not list an issue date or loan terms. Buyer Comment (2024-02-06): Please cancel the CD in question is not a valid CD as it has a stamp "ESTIMATE" on the document. The initial CD is dated [Redact]

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TRID timing exception, no remediation available.

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029194

[Redact]

[Redact]

30107851

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2024-02-06): Acknowledged non material

02/06/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029194

[Redact]

[Redact]

30107852

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2024-02-12): Document received and updated correctly. Exception cleared. Buyer Comment (2024-02-06): Econsent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029196

[Redact]

[Redact]

30107858

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Page 1 &5 of the Final Closing Disclosure are blank.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029196

[Redact]

[Redact]

30107860

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

E-sign Consent Agreement is missing.

Reviewer Comment (2024-02-15): E-Sign document provided Buyer Comment (2024-02-13): Econsent

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029196

[Redact]

[Redact]

30107862

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Buyer Comment (2024-02-11): Acknowledged non material EV2

02/11/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029196

[Redact]

[Redact]

30107863

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Issue date was left blank on CD. The closing disclosure was estimated to be provided on [Redact]

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029196

[Redact]

[Redact]

30107864

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

There no proof that the Closing Disclosure was provided to the borrower.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029196

[Redact]

[Redact]

30107866

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Loan file missing verification of housing history documented as required by Guidelines.

Reviewer Comment (2024-02-15): Additional 3 months reserves required and verified in leu of housing history per guidelines. Buyer Comment (2024-02-12): Per Lender : Extra 3 months reserves utilized in lieu of housing history.

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029199

[Redact]

[Redact]

30107888

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Appraisal Transfer letter is received for different Lender. Safe Harbor requirement not met.

Reviewer Comment (2024-02-13): Exception cleared based on Appraisal Transfer Letter in file from tranferring lender. Buyer Comment (2024-02-06): Appraisal transfer

02/13/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

B

A

A

A

B

A

A

A

Non QM

Non QM

No

221029200

[Redact]

[Redact]

30107890

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Closing disclosure is incomplete.

Reviewer Comment (2024-02-06): Removed invalid CD. Buyer Comment (2024-02-06): Please cancel. The CD dated [Redact] is not valid as this was not generated by the lender's LOS(lender origination system) There are only 2 valid CD's dated [Redact] and [Redact]

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029200

[Redact]

[Redact]

30107893

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue and Received Date >  Closing Disclosure Issue and Received Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided. (The Revised Loan Estimate was received on or after the Closing Disclosure.)

Loan Estimate provided on or after the date the Closing Disclosure was provided.

Reviewer Comment (2024-02-06): Removed invalid CD. Buyer Comment (2024-02-06): Please cancel. The CD dated [Redact] is not a valid CD (not generated by the lender)

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029200

[Redact]

[Redact]

30107894

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue and Received Date >  Closing Disclosure Issue and Received Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided. (The Revised Loan Estimate was received on or after the Closing Disclosure.)

Loan Estimate provided on or after the date the Closing Disclosure was provided.

Reviewer Comment (2024-02-06): Removed invalid CD. Buyer Comment (2024-02-06): Please cancel. Exception is invalid. The CD ([Redact]) is not a valid CD and not generated by the lender's LOS (lender origination system)

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029200

[Redact]

[Redact]

30107895

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Issue and Received Date >  Closing Disclosure Issue and Received Date

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on or after the date the Closing Disclosure was provided. (The Revised Loan Estimate was received on or after the Closing Disclosure.)

Loan Estimate provided on or after the date the Closing Disclosure was provided.

Reviewer Comment (2024-02-06): Removed invalid CD. Buyer Comment (2024-02-06): Please cancel. Exception is invalid. The CD ([Redact]) is not a valid CD and not generated by the lender's LOS (lender origination system)

02/06/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029200

[Redact]

[Redact]

30107897

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

E-sign Consent Agreement is missing.

Reviewer Comment (2024-02-12): Received e-sign consent agreement. Exception cleared Buyer Comment (2024-02-07): Esign consent

02/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029201

[Redact]

[Redact]

30107898

Credit

Missing Document

General

Missing Document

Missing Document: Verification of Non-US Citizen Status not provided

Verification of Non-US Citizen Document is missing

Reviewer Comment (2024-02-15): IRS taxpayer ITIN and driver license Buyer Comment (2024-02-13): This is an ITIN borrower

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

221029201

[Redact]

[Redact]

30107900

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

E-Sign Consent Agreement is missing

Reviewer Comment (2024-02-15): E-Sign document provided Buyer Comment (2024-02-13): Esign consent

02/15/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

221029201

[Redact]

[Redact]

30107902

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

The loan is identified as an HPML as the APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact]

Reviewer Comment (2024-02-15): Exception cleared based on Appraisal Transfer Letter in file from transferring lender. Buyer Comment (2024-02-15): **Note: Appraisal transfer letter in file - see D0182 Buyer Comment (2024-02-13): Please re-review and advise of missing requirement

02/15/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

221029201

[Redact]

[Redact]

30107903

Compliance

Compliance

Federal Compliance

GSE

Fannie Mae 2014 - 3% Points and Fees

Fannie Mae 2014 3% Points and Fees Test.  Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of  3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact] (an overage of [Redact] or [Redact]).

Points and Fees Test. Points and Fees on subject loan of [Redact] is in excess of the investor allowable maximum of 3.00000% of the Federal Total Loan Amount. Points and Fees total [Redact] on a Federal Total Loan Amount of [Redact] vs. an investor allowable total of [Redact]

Buyer Comment (2024-02-06): Acknowledged non material EV2

02/06/2024

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107905

Compliance

Compliance

Federal Compliance

TRID

TRID Appraisal Disclosure - ECOA Status

ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

Right to Receive a Copy of the Appraisal Disclosure missing.

Reviewer Comment (2024-02-09): [Redact] received initial LE. Buyer Comment (2024-02-07): Right to receive copy of Appraisal disclosure

02/09/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

Good faith redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107906

Compliance

Compliance

Federal Compliance

FACTA

FACTA Disclosure Missing

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure.

FACTA Disclosure is missing in file.

Reviewer Comment (2024-02-13): FACTA provided Buyer Comment (2024-02-07): FACTA disclosure

02/13/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107907

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-02-14): HPML exception downgraded to EV2-B based on ambiguity in the regulation relative to imposing a fee for a second appraisal when the fee is paid through a seller credit. Loan has been set to HPML Compliant. Buyer Comment (2024-02-07): Please see uploaded appraisal documents

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107908

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Flipped Property - Did Not Obtain 2 Appraisals)

TILA HPML Appraisal Rule  (Dodd-Frank 2014): Flipped Property - Creditor did not obtain two (2) written appraisals. Borrower charged for multiple appraisals.

Creditor did not obtain two (2) written appraisals. Borrower charged for multiple appraisals.

Reviewer Comment (2024-02-13): Second appraisal provided Buyer Comment (2024-02-07): 2nd Appraisal

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107910

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Initial CD Issued less than 6 days prior to closing and received by the borrower less than 3 business days prior to closing.

Reviewer Comment (2024-02-07): Omitted CD and re-tested Buyer Comment (2024-02-07): The Document in question D0102 is not a valid CD nor was it generated from the lender's LOS(lender origination system) and should not be included in testing. This exception is invalid and the details do not coincide with the exception. Please cancel. Reviewer Comment (2024-02-07): [Redact] Document 102 are incomplete and has closing date [Redact]. If the CDs were not provided to the borrower, please provide Letter of Attestation indicating the document ID 102 were never provided to the borrower and [Redact] will review for re-testing. Buyer Comment (2024-02-06): Please cancel. This exception is invalid. The initial CD is dated [Redact] and not [Redact]. The initial CD was e signed [Redact] which is 3 business days prior to closing [Redact]

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107911

Compliance

Compliance

Federal Compliance

TRID Defect

TILA-RESPA Integrated Disclosure: application date on or after 10/3/2015, no Loan Estimates in the Loan File

TILA-RESPA Integrated Disclosure: Loan Estimate not provided within loan images to evidence delivery to the Borrower(s).  The earliest Closing Disclosure provided in the loan file was used as the estimated baseline for Tolerance Testing.  Depending on the actual values on the initial Loan Estimate, a fee tolerance cure of up to [Redact] may be required.

Loan Estimate is missing in file.

Reviewer Comment (2024-02-09): [Redact] received initial LE. Buyer Comment (2024-02-07): [Redact] LE

02/09/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107913

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Insufficient or no cure was provided to the borrower.

Loan Estimate is missing in file so this exception is fired.

Reviewer Comment (2024-02-07): Omitted CD and re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107914

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Mortgage Broker Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Loan Estimate is missing in file so this exception is fired.

Reviewer Comment (2024-02-07): Omitted CD and re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107915

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Commitment Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Loan Estimate is missing in file so this exception is fired.

Reviewer Comment (2024-02-07): Omitted CD and re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107916

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Loan Estimate is missing in file so this exception is fired.

Reviewer Comment (2024-02-07): Omitted CD and re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107917

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Loan Estimate is missing in file so this exception is fired.

Reviewer Comment (2024-02-07): Omitted CD and re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107918

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Loan Estimate is missing in file so this exception is fired.

Reviewer Comment (2024-02-07): Omitted CD and re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107919

Compliance

Compliance

Federal Compliance

TRID

TRID Appraisal Disclosure - HPML Status

HPML - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

Right to Receive Copy of Appraisal document is missing in file.

Reviewer Comment (2024-02-09): [Redact] received initial LE. Buyer Comment (2024-02-07): Please see uploaded ECOA Right to Receive disclosure

02/09/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good faith redisclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107920

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Two months business bank statement missing from the loan file.

Reviewer Comment (2024-02-14): Comingled personal bank statements used to qualify.

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107921

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Two months business bank statement missing from the loan file.

Reviewer Comment (2024-02-13): Comingled personal bank statements used to qualify

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107922

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Two months business bank statement missing from the loan file.

Reviewer Comment (2024-02-13): Comingled personal bank statements used to qualify

02/13/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029202

[Redact]

[Redact]

30107923

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Two months business bank statement missing from the loan file.

Reviewer Comment (2024-02-13): Co-mingled personal bank statement qualification

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107924

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Two months business bank statement missing from the loan file.

Reviewer Comment (2024-02-13): Comingled personal bank statements used to qualify

02/13/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107925

Credit

Missing Document

General

Missing Document

Missing Document: Account Statements - Business not provided

Two months business bank statement missing from the loan file.

Reviewer Comment (2024-02-16): 12-month personal bank statement used to qualify as per 1008 and UW worksheet. Exception Cleared Buyer Comment (2024-02-15): Updated 1008 attached. Reviewer Comment (2024-02-13): Loan qualified under the personal bank account program.  It requires 2 months of business returns to show the deposits are coming from the business.  Otherwise it needs to be a Co-Mingled account program.  The 1008 and UW worksheet reflect this qualified under the personal account program.  There are no business bank statements in the file. Buyer Comment (2024-02-07): Per Lender : Believe this is the only month that might be missing.

02/16/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

221029202

[Redact]

[Redact]

30107927

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Flipped Property - Borrower Charged for 2 Appraisals)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Flipped Property - Creditor improperly charged consumer for two (2) appraisals.

Buyer Comment (2024-02-14): Acknowledged non material EV2 Reviewer Comment (2024-02-14): This is relating to the appraisal fees.  The exception has been downgraded. Reviewer Comment (2024-02-14): Exception downgraded to EV2-B based on ambiguity in the regulation relative to imposing a fee for a second appraisal when the fee is paid by the seller. Buyer Comment (2024-02-13): 2nd appraisal was uploaded and exception was cleared - please advise why this exception was opened

02/14/2024

2

B

B

B

B

B

[Redact]

Primary

Purchase

Provide evidence of the refund of the amount charged to the consumer for the second appraisal performed on the subject property.  (Include a copy of the Refund Check, Proof of Delivery, and Cover Letter)

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

221029210

[Redact]

[Redact]

30108015

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

Missing Data - 1st page Issue date, 4th page and 5th page data

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

D

B

C

A

D

B

A

A

Non QM

Non QM

No

221029210

[Redact]

[Redact]

30108016

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

E-sign Consent Agreement is missing.

Reviewer Comment (2024-02-14): E-Sign document provided Buyer Comment (2024-02-12): Econsent

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

D

B

C

A

D

B

A

A

Non QM

Non QM

No

221029210

[Redact]

[Redact]

30108017

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-02-20): Verified appraisal delivery and borrower receipt conformation Buyer Comment (2024-02-15): Please see uploaded delivery confirmation Reviewer Comment (2024-02-14): Verified proof appraisal emailed to borrower on [Redact] but do not have proof of receipt from the borrower the day they received the appraisal.  Note date is [Redact] and required to receive 3 days prior to consumation date.  Seystm is auto filling [Redact] without proof of receipt date. Buyer Comment (2024-02-14): Please see uploaded Appraisal and delivery documents

02/20/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

D

B

C

A

D

B

A

A

Non QM

Non QM

No

221029210

[Redact]

[Redact]

30108018

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redact] or Final Disclosure APR of [Redact] is equal to or greater than the threshold of APOR [Redact] + 1.5%, or [Redact].  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-02-20): Verified appraisal delivery and borrower receipt conformation Buyer Comment (2024-02-15): Please see uploaded delivery confirmation Reviewer Comment (2024-02-14): Verified proof appraisal emailed to borrower on [Redact] but do not have proof of receipt from the borrower the day they received the appraisal.  Note date is [Redact] and required to receive 3 days prior to consumtion date.  System is auto filling [Redact] without proof of receipt date. Buyer Comment (2024-02-14): Please see uploaded Appraisal and delivery documents

02/20/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

D

B

C

A

D

B

A

A

Non QM

Non QM

No

221029210

[Redact]

[Redact]

30108019

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-02-20): Verified appraisal delivery and borrower receipt conformation Buyer Comment (2024-02-15): Delivery confirmation Reviewer Comment (2024-02-14): Verified proof appraisal emailed to borrower on [Redact] but do not have proof of receipt from the borrower the day they received the appraisal.  Note date is [Redact] and required to receive 3 days prior to consumation date.  System is auto filling [Redact] without proof of receipt date. Buyer Comment (2024-02-14): Original appraisal delivery Buyer Comment (2024-02-14): Original appraisal Buyer Comment (2024-02-14): Appraisal delivery [Redact]

02/20/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

D

B

C

A

D

B

A

A

Non QM

Non QM

No

221029210

[Redact]

[Redact]

30108020

Compliance

Compliance

State Compliance

State Defect

(TX50(a)(6)) Texas Cash-out Loan  (Acknowledgment of Fair Market Value Disclosure Not Properly Executed by all persons vested on title)

[Redact] Constitution Section 50(a)(6): Acknowledgment of the Fair Market Value not properly executed.

Reviewer Comment (2024-02-14): Fully executed Fair Market disclosure provided. Buyer Comment (2024-02-13): Please see uploaded [Redact] Fair Market disclosure executed by all parties

02/14/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

To Remediate: the lender or holder may either: (1) Deliver to the borrower the required disclosure documents and obtain an executed copy; OR, (2) refund or credit the borrower $1,000 and offer the borrower the right to refinance the extension of credit for the remaining term of the loan at no cost to the borrower on the same terms, including interest, as the original extension of credit with any modifications necessary to comply with this section or on terms on which the borrower and the lender or holder otherwise agree.  Letter of explanation and proof of delivery of cure documents required, and, if cured with refund or credit, copy of refund check or evidence of principal reduction also required.

D

B

C

A

D

B

A

A

Non QM

Non QM

Yes

221029210

[Redact]

[Redact]

30108021

Compliance

Compliance

State Compliance

State Defect

(TX50(a)(6)) Texas Cash-out Loan  (Acknowledgment of Fair Market Value Disclosure Not Signed by the Lender)

[Redact] Constitution Section 50(a)(6): Acknowledgment of the Fair Market Value not properly executed by the Lender.

Reviewer Comment (2024-02-14): Fully executed Fair Market disclosure provided. Buyer Comment (2024-02-13): Fair Market Disclosure executed

02/14/2024

1

C

A

C

A

C

A

C

A

D

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

To Remediate: the lender or holder may either: (1) Deliver to the borrower the required disclosure documents, (AFMV signed by the lender), and obtain an executed copy; OR (2) refund or credit the borrower $1,000 and offer the borrower the right to refinance the extension of credit for the remaining term of the loan at no cost to the borrower on the same terms, including interest, as the original extension of credit with any modifications necessary to comply with this section or on terms on which the borrower and the lender or holder otherwise agree. Letter of explanation and proof of delivery of cure documents required, and, if cured with refund or credit, copy of refund check or evidence of principal reduction also required.

D

B

C

A

D

B

A

A

Non QM

Non QM

Yes

221029210

[Redact]

[Redact]

30108022

Compliance

Compliance

State Compliance

State Defect

(TX50(a)(6)) Texas Cash-out Loan  (Points and Fees Exceeds 2% of Original Principal Balance)

[Redact] Constitution Section 50(a)(6): Points and fees on subject loan of [Redact] is in excess of the allowable maximum of 2.0000% of the Original Principal Loan Amount. Points and Fees total [Redact] on an Original Principal Loan Amount of [Redact] vs. an allowable total of [Redact] (an overage of [Redact] or [Redact].)

Reviewer Comment (2024-02-26): Cure documentation received including LOE, refund check and proof delivery. Buyer Comment (2024-02-21): LOE, PCCD, refund check and shipping label Reviewer Comment (2024-02-15): The AMC (Appraisal Management Company) fee of [Redact] is included in [Redact] Equity Points and Fees based on [Redact] Admin Code RULE §153.5 (13): Exclusion for Appraisal Fee. A fee for an appraisal performed by a third party appraiser is not a fee subject to the two percent limitation. The appraisal must be performed by a person who is not an employee of the lender. The excludable appraisal fee is limited to the amount paid to the appraiser for the completion of the appraisal, and does not include an appraisal management services fee described by [Redact] Occupations Code, §1104.158(a)(2). The inclusion of the AMC fee as a finance charge is based on 1026.4(c)(7)(iv) and commentary, which excludes from finance charges appraisal fees to assess the value or condition of the property and fees for verifying or confirming information connected to the appraisal. However, fees for selecting and coordinating with an appraiser, and facilitating the ordering, tracking, and delivery of appraisals are not excluded and would be examples of services that would be considered finance charges. Buyer Comment (2024-02-15): Please see LOX regarding appraisal mgt fee - lender did not include this fee Reviewer Comment (2024-02-14): We are using the same [Redact] fee you are plus an [Redact] Appraisal Management fee that is listed on the [Redact] appraisal invoice (page 875 / D0310) bringing our total to [Redact] and the 2% max is [Redact]. Buyer Comment (2024-02-13): Highlighted Fees CD - Per Lender: "I highlighted all of the fees that are included in the 2% rule and come to a total of [Redact]. Please let me know what fees you are using so that I can compare the two."

02/26/2024

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Refinance - Cash-out - Home Improvement

Refund the borrower, or credit their account, an amount equal to any overcharge paid by the borrower. (Provide Proof of Delivery, LOE, and Copy of Check. [A servicing screen print can be provided in place of a check when a credit is applied to the borrowers account.])

D

B

C

A

D

B

A

A

Non QM

Non QM

Yes

221029210

[Redact]

[Redact]

30108023

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Reviewer Comment (2024-02-07): Omitted incomplete/draft CD, re-tested

02/07/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Home Improvement

Good Faith Redisclosure

D

B

C

A

D

B

A

A

Non QM

Non QM

Yes

221029226

[Redact]

[Redact]

30108090

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Reviewer Comment (2024-02-16): Non QM

02/16/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM status

D

A

A

A

C

A

D

A

Non QM

Non QM

Yes

221029226

[Redact]

[Redact]

30108094

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  AVM supports value.  Vendor/FSD do not meet Fitch criteria.; Sec ID: 10

Reviewer Comment (2024-02-23): Desk review provided. Buyer Comment (2024-02-21): Desk review

02/23/2024

1

A

A

D

A

A

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

D

A

A

A

C

A

D

A

Non QM

Non QM

No

221029226

[Redact]

[Redact]

30108098

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

An AVM was provided, Guides require a desk review or equivalent

Reviewer Comment (2024-02-23): Desk review provided.

02/23/2024

1

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

D

A

A

A

C

A

D

A

Non QM

Non QM

No

221029242

[Redact]

[Redact]

30108122

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Compliance to review for designation re-set.

Reviewer Comment (2024-02-16): Non QM

02/16/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

221029242

[Redact]

[Redact]

30108125

Credit

Missing Document

General

Missing Document

Missing Document: Desk-Top Review not provided

File contains an AVM, missing desktop review.

Reviewer Comment (2024-02-21): Desktop Review Received for subject property. Exception Cleared Buyer Comment (2024-02-21): Desk review

02/21/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221029243

[Redact]

[Redact]

30108129

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - Assets

Ability to Repay (Dodd-Frank 2014): Unable to verify assets using reasonably reliable third-party records.

Bank Statement dated post close.

Reviewer Comment (2024-02-28): Net proceeds used Buyer Comment (2024-02-27): comment from lender: The deposit was provided on p.5 of the Asset Docs attached showing that the deposit came from [Redact] (see cancelled check). This amount is Also shown as disbursed on the attached Final settlement Statement from the escrow. Reviewer Comment (2024-02-26): If this account was provided to use the cash out for reserves provide documentation of the deposit. Buyer Comment (2024-02-22): Per lender : The borrower wanted to use net proceed as reserves (Cash out funds can only be used for reserves if deposited into [Redact] with ACH). We verified the asset amount internally before purchasing the file, so the date shows as [Redact].

02/28/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

A

A

C

A

A

A

Non QM

Non QM

No

221029243

[Redact]

[Redact]

30108133

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Disaster Declaration Date: [Redact], provide PDI.

Reviewer Comment (2024-03-01): PDI received with no damages. Exception Cleared Buyer Comment (2024-03-01): PDI

03/01/2024

1

A

A

A

A

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

A

A

C

A

A

A

Non QM

Non QM

No

221029256

[Redact]

[Redact]

30108225

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2

Secondary Valuation is missing from the file.

Reviewer Comment (2024-02-28): Field review validating orig value provided. Buyer Comment (2024-02-28): Lender's desk review

02/28/2024

1

D

A

D

A

D

A

D

A

D

A

[Redact]

Primary

Purchase

D

A

A

A

A

A

D

A

Non QM

Non QM

No

221029262

[Redact]

[Redact]

30108260

Credit

Missing Document

General

Missing Document

Missing Document: Desk Review not provided

Missing desk review.

Reviewer Comment (2024-02-23): Received Desk Review. Exception Cleared Buyer Comment (2024-02-22): Per lender : Attached is the [Redact] - Compliance Administration Review of the previously attached Appraisal completed by [Redact] Staff in the Appraisal Department, which reports separate form any lending department through [Redact] to the CEO

02/23/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

No

221029268

[Redact]

[Redact]

30108285

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The subject is located in a PUD, however the appraisal and all valuations list the subject as single family resident. Appraisals to be updated to reflect correct property type.

Reviewer Comment (2024-02-26): Received revised 1004 with Checked on PUD. Exception Cleared Buyer Comment (2024-02-23): updated appraisal and proof of delivery

02/26/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

No

221029269

[Redact]

[Redact]

30108287

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Loan Designation failure due to Non QM failure. This exception will be cleared once all Non QM specific exception have been cured/cleared.

Reviewer Comment (2024-02-27): Loan is NonQM.

02/27/2024

1

B

A

C

A

B

A

C

A

B

A

[Redact]

Primary

Purchase

Lender to provide updated ATR/QM status

C

B

C

A

C

A

A

B

Non QM

Non QM

Yes

221029269

[Redact]

[Redact]

30108288

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - Partnership

Ability to Repay (Dodd-Frank 2014): Unable to verify Partnership income using reasonably reliable third-party records.

This exception will be cleared once all ATR  specific exception have been cured/cleared.

Reviewer Comment (2024-02-27): Required income documentation was provided.

02/27/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029269

[Redact]

[Redact]

30108291

Compliance

Compliance

Federal Compliance

TILA

ARM Disclosure Timing Test

TIL variable rate disclosure: ARM loan program disclosure not provided to the borrower within three (3) days of application.

The file was missing a copy of the executed ARM Disclosure or proof of the borrower's receipt within 3 days of originator application date.

Reviewer Comment (2024-02-27): Consent disclosure reflects Charm was sent [Redact] and also Disclosure Notice sent [Redact]. The ARM disclosure in file is the"Disclosure Notice"

02/27/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

No Defined Cure

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029269

[Redact]

[Redact]

30108294

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Require verification of mortgage or credit supplement from [Redact] for the month of [Redact] to verify complete 12 month mortgage payment history per guidelines.

Reviewer Comment (2024-02-23): Hanmi provided guidance post review on VOR/VOM requirements. Not required.

02/23/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029269

[Redact]

[Redact]

30108296

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Required Telephone Listing / Internet Search / Directory Assistance for [Redact]

Reviewer Comment (2024-02-27): Internet search provided and address confirmed also via business license and CPA letter. Reviewer Comment (2024-02-27): To comply with a verbal verification of employment (or telephone confirmation) requirement provide Telephone Listing / Internet Search / Directory Assistance for [Redact]. Exception Remains Buyer Comment (2024-02-26): Internet Search through [Redact] has been attached (page 11-13

02/27/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029269

[Redact]

[Redact]

30108297

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Require supporting document to verify free and clear ownership status on property at [Redact]

Reviewer Comment (2024-02-27): Evidence of Free and Clear Received for property at [Redact]. Exception Cleared Buyer Comment (2024-02-26): Per Lender : Per attached rental property docs, on the hazard insurance document (page 6), the 1st mortgagee & servicing agency showing as none

02/27/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029269

[Redact]

[Redact]

30108298

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing CPA letter for use of business funds confirming no impact. .

Reviewer Comment (2024-02-27): CPA letter provided. Buyer Comment (2024-02-26): Per Lender:  Please refer to CPA letter. On page 3, CPA mentioned that the borrower has full access of the bank account, and using the funds will not negatively affect the business.

02/27/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029269

[Redact]

[Redact]

30491889

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. AVM does not support the value used to qualify. Vendor/FSD do not meet Fitch criteria. Sec ID: 91

Reviewer Comment (2024-05-06): Secondary valuation obtained

05/06/2024

1

A

A

A

A

A

[Redact]

Primary

Purchase

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029269

[Redact]

[Redact]

30508707

Property

Appraisal Reconciliation

Value Discrepancy

Appraisal Reconciliation

Loan is to be securitized. Highest level secondary valuation supports the value. There is a lower level tertiary product that does not support the qualifying value. Sec ID: 22

Note Date:  ___; Lien Position: ___

Secondary valuation obtained supporting the original appraised value

Reviewer Comment (2024-05-06): Client elected to waive the condition. Secondary valuation obtained supporting the original appraised value

05/06/2024

2

A

A

A

A

B

[Redact]

Primary

Purchase

C

B

C

A

C

A

A

B

Non QM

Non QM

No

221029274

[Redact]

[Redact]

30108323

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - Schedule C

Ability to Repay (Dodd-Frank 2014): Unable to verify Sole Proprietorship income using reasonably reliable third-party records.

The income meets the guideline requirements.

Reviewer Comment (2024-02-20): The income meets the guideline requirements.

02/20/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

A

A

C

A

A

A

Non QM

Non QM

No

221029277

[Redact]

[Redact]

30108335

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status.

Creditor did not provide "Right to Receive a Copy" appraisal disclosure to applicant within three (3) business days of application or determination of first lien status.

Reviewer Comment (2024-02-14): Initial right to receive appraisal disclosure provided Buyer Comment (2024-02-12): Initial Disclosure package - Please see page 63 of attached

02/14/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

No

221029277

[Redact]

[Redact]

30108336

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence appraisal was delivered to borrower in loan file.

Reviewer Comment (2024-02-14): Proof appraisal provoded to borrower provided Buyer Comment (2024-02-12): Appraisal delivery

02/14/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

No

221029277

[Redact]

[Redact]

30108337

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence appraisal was delivered to borrower in loan file.

Reviewer Comment (2024-02-14): Only one appraisal completed.  One has the bottom pages cut off and complete appraisal provided with same dates and appraised value. Buyer Comment (2024-02-12): Appraisal delivery

02/14/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

No

221029277

[Redact]

[Redact]

30108338

Compliance

Compliance

Federal Compliance

Missing, Incorrect, or Incomplete HUD-1

Missing Final HUD-1:  Estimated HUD-1 Used For Fee Testing Non Material

Missing Final HUD-1:  Estimated HUD-1 used for any applicable Federal, State or Local compliance testing.  Investment occupancy with business purpose cert in file. Business purpose loans exempt from RESPA HUD-1 requirement. EV2 informational finding to indicate which document was used to source fees for any applicable testing.

Final closing statement not present in file as signed HUD-1 in file does not reflect the payoff of the current mortgage for the subject property.

Reviewer Comment (2024-02-14): Final HUD provided Buyer Comment (2024-02-12): Final HUD

02/14/2024

1

B

A

B

A

B

A

B

A

B

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

No

221029277

[Redact]

[Redact]

30108339

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

Reviewer Comment (2024-02-24): Documents received, system cleared. Buyer Comment (2024-02-22): Per Lender : They have 2 separate policies, one for each unit. They can't combine the addresses into one.

02/24/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

No

221029277

[Redact]

[Redact]

30108340

Credit

System

General

System

Flood Certificate Subject Address does not match Note address.

Reviewer Comment (2024-02-24): Documents received, system cleared. Buyer Comment (2024-02-21): Flood

02/24/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

B

A

A

A

N/A

No

221030003

[Redact]

[Redact]

[Redact]

30112050

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.

Buyer Comment (2024-04-03): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-01): The collateral was delivered [Redact] at 8 a.m. via [Redact] trk#[Redact].

04/03/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

221030003

[Redact]

[Redact]

[Redact]

30269005

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by [Redact]  Provide updated policy reflecting minimum coverage of [Redact] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2024-04-11): Updated policy received.  Exception cleared. Seller Comment (2024-04-10): Please see attached updated policy.

04/11/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

221043212

[Redact]

[Redact]

[Redact]

30143294

Credit

Collateral

Missing/Incorrect

Collateral

Mortgage note not yet reviewed or approved by custodian. If applicable, please provide tracking number for delivery of collateral file.

Buyer Comment (2024-04-09): Waived on Rate Lock: Collateral cleared by Custodian Seller Comment (2024-04-04): Collateral delivered on [Redact] via [Redact] tracking number [Redact]. Seller Comment (2024-04-04): Colateral delivered on [Redact] via [Redact] tracking number [Redact].

04/09/2024

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Investment

Purchase

A

A

A

A

A

A

N/A

No

221206969

[Redact]

[Redact]

30386867

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2023-09-21): Client elects to waive

09/21/2023

2

B

B

B

B

B

B

B

B

B

B

[Redact]

Primary

Refinance - Rate/Term

C

B

A

B

C

B

A

A

Non QM

Non QM

No

221206969

[Redact]

[Redact]

30386868

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered to Borrower(s) within three (3) business days of application. Initial Loan Estimate dated [Redact] was electronically provided without or prior to borrower's consent to receive electronic disclosures. Failure to comply with the provisions of the E-Sign Act and failure to provide good faith estimate of fees timely may result in additional fee tolerance violations.

Reviewer Comment (2023-09-26): [Redact] received LOE and wet signed LE dated [Redact] Buyer Comment (2023-09-25): Loe for disclosures.

09/26/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Rate/Term

C

B

A

B

C

B

A

A

Non QM

Non QM

No

221206969

[Redact]

[Redact]

30386869

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Total Of Payments

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redact] disclosed an inaccurate Total of Payments on page 5 that does not match the actual total of payments for the loan (fee amounts included in TOP calculation are based on Closing Disclosure dated [Redact]).  The disclosed Total of Payments in the amount of [Redact] is under disclosed by [Redact] compared to the calculated total of payments of [Redact] which exceeds the [Redact] threshold.

The disclosed Total of Payments in the amount of [Redact] is under disclosed by [Redact] compared to the calculated total of payments of [Redact]

Reviewer Comment (2023-10-02): [Redact] received Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission. Buyer Comment (2023-09-29): refund, loe, tracking Reviewer Comment (2023-09-26): PCCD shows an increase in the Title - Notary fee from [Redact] at closing to[Redact] on the PCCD.  Cure is required.  Because this is a material exception on a refinance transaction, PCCD, copy of refund check, LOE, Reopening of RTC and proof of delivery is required to cure. Buyer Comment (2023-09-25): compliance report

10/02/2023

2

C

B

C

B

C

B

C

B

C

B

[Redact]

Primary

Refinance - Rate/Term

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission if Applicable

C

B

A

B

C

B

A

A

Non QM

Non QM

Yes

221206969

[Redact]

[Redact]

30386871

Credit

Credit

Miscellaneous

Credit

Miscellaneous Credit (Non-Material):

The Note was executed as an individual, however the loan closed in a Trust. Provide the corrected and updated Note, LOE to borrower, and evidence of delivery to the borrower.

Borrower has been employed in the same industry for more than 5 years. Borrower has owned the subject property for at least 5 years. Borrower has worked in the same position for more than 3 years. Borrower's monthly mortgage payment has decreased by at least 20%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The refinance has decreased the borrower's monthly debt payments by 20% or more.

SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2023-10-03): Client elects to waive

10/03/2023

2

B

B

B

B

B

[Redact]

Primary

Refinance - Rate/Term

C

B

A

B

C

B

A

A

Non QM

Non QM

No

221206969

[Redact]

[Redact]

30386872

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The loan closed in a Trust, however the DOT was signed as an individual. Provide the corrected and signed DOT, LOE to borrower, evidence of delivery to the borrower and lender's letter of intent to re-record.

Reviewer Comment (2023-10-10): Tracking reflects in transit. Buyer Comment (2023-10-10): Please check the tracking again. It has been picked up by the driver and estimated delivery date is today ([Redact]). Reviewer Comment (2023-10-09): Corrected documents received along with LOE and LOE. Mailing label tracking reflects Label created. Must reflect, at minimum, in transit. Buyer Comment (2023-10-09): See documentation

10/10/2023

1

A

A

A

A

A

[Redact]

Primary

Refinance - Rate/Term

C

B

A

B

C

B

A

A

Non QM

Non QM

No

221207006

[Redact]

[Redact]

30386939

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of [Redact] exceeds tolerance of [Redact] plus 10% or [Redact].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2023-10-31): Sufficient Cure Provided At Closing

10/31/2023

1

A

A

A

A

A

A

A

A

A

A

[Redact]

Primary

Purchase

Final CD evidences Cure

C

A

C

A

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

Yes

221207006

[Redact]

[Redact]

30386940

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Per the fraud report, the borrower owned the property reflected on the 1003 as the departing residence; therefore, the mortgage history is verified through [Redact]. However, the file does not contain documentation to verify any housing history for [Redact] and [Redact].

Reviewer Comment (2023-11-21): Received corrected 1003 reflecting the rent amount with rent back agreement and checks paid through [Redact]. Exception cleared. Buyer Comment (2023-11-17): Please see attached Rentback agreement and proof of payment; bank statements with cancelled checks.  1003 updated also. Buyer Comment (2023-11-17): Please see attached Rentback agreement and proof of payment and bank statements with cancelled checks. Reviewer Comment (2023-11-14): Property profile report for current primary reflecting transfer of deed on [Redact]. Pending receipt of something from the landlord stating borrower is allowed to reside in the current primary rent free. Buyer Comment (2023-11-14): Seller comments: Property profile report will also be required to support current owner Reviewer Comment (2023-11-13): An unsigned verbal memorandum is not acceptable. We will need documentation from the current owner that the borrower is living rent free in the property and there isn't a rental agreement/he is not required to pay rent. Property profile report will also be required to support current owner. Buyer Comment (2023-11-10): Please see 1003, LOX.  We have posted a revised 1003 itemizing the time he owned and rented [Redact]. He lived at [Redact] for a total of 2 years and 3 months. He owned it, sold it in July and then rented it back from July until closing on the new home. There was no mention was a formal rent back agreement.

11/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

221207006

[Redact]

[Redact]

30386941

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

The final 1003 reflects the borrower was renting the property located at [Redact] for 2 years and 3 months; however, the fraud and credit reports confirm the borrower owned this property until [Redact] when the property was sold. The housing history from [Redact] through closing needs to be updated on the credit report. If the borrower rented back the departing residence from the new owner, documentation of the rent back is required and the 1003 updated.

Reviewer Comment (2023-11-21): Received corrected 1003 reflecting the rent amount with rent back agreement and checks paid through [Redact]. Exception cleared. Buyer Comment (2023-11-17): Please see attached Rentback agreement and proof of payment and bank statements with cancelled checks. Reviewer Comment (2023-11-14): Property profile report for current primary reflecting transfer of deed on [Redact]. Pending receipt of something from the landlord stating borrower is allowed to reside in the current primary rent free. Buyer Comment (2023-11-14): I have submitted a profile report to support that the sale of [Redact] is final and supports new current owner. We have mortgage history through the sale of the home, the borrower made arrangements with the buyer to stay in the property for [Redact] and [Redact] with no formal rent back agreement , due to this agreement was for a small period of time we are looking for exception, as we provided to support the property was in fact sold and now owned by the buyer Reviewer Comment (2023-11-13): An unsigned verbal memorandum is not acceptable. We will need documentation from the current owner that the borrower is living rent free in the property and there isn't a rental agreement/he is not required to pay rent. Property profile report will also be required to support current owner. Buyer Comment (2023-11-10): Please see 1003, LOX.  We have posted a revised 1003 itemizing the time he owned and rented [Redact]. He lived at [Redact] for a total of 2 years and 3 months. He owned it, sold it in [Redact] and then rented it back from [Redact] until closing on the new home. There was no mention was a formal rent back agreement.

11/21/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

221207007

[Redact]

[Redact]

30386943

Credit

Missing Document

General

Missing Document

Missing Document: Credit Report - Gap not provided

Reviewer Comment (2023-11-10): Received Undisclosed Debt, Exception cleared. Buyer Comment (2023-11-09): UDM attached

11/10/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

221210460

[Redact]

[Redact]

30401439

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

The file is missing evidence of the hazard insurance for the property located on Lower [Redact].

Reviewer Comment (2023-12-18): Received Hazard insurance policy, Exception cleared. Buyer Comment (2023-12-15): Please see HOI

12/18/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221210460

[Redact]

[Redact]

30401440

Credit

Missing Document

General

Missing Document

Incomplete Document: Closing Disclosure is incomplete

The Closing Disclosure with a Closing Date of [Redact] is incomplete. The file does not contain any documentation to verify the Closing Disclosure was not provided to the borrower.

Reviewer Comment (2023-12-15): [Redact] received LOA to remove document(s) 0133, from testing as not provided to the borrower. Buyer Comment (2023-12-14): Please see attestation Reviewer Comment (2023-12-13): [Redact] did not receive specific information identifying "which" CDs were never issued & disclosed to borrower.  [Redact] cannot assume which CD's that were included in loan package were not issued without complete identification. Lender attestation can include the Doc ID for further identification information. [Redact] requires a Lender Attestation document that specifies any disclosure(s) and identifying of the disclosure, an explanation on why the disclosure was included in loan package for testing and if not disclosed to borrower, attesting that borrower was never issued or disclosed the disclosure(s) in question.  [Redact] can then retest if no information in file reflects a disclosure was provided to borrower. Buyer Comment (2023-12-12): seller:  this cd came from the attorney to balance their fees against ours

12/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221210460

[Redact]

[Redact]

30401441

Compliance

TRID

Document Error

TRID

TRID Closing Disclosure: "Product" in Loan Details section is blank.

-

The Closing Disclosure with a Closing Date of [Redact] is incomplete. The file does not contain any documentation to verify the Closing Disclosure was not provided to the borrower.

Reviewer Comment (2023-12-15): [Redact] received LOA to remove document(s) 0133, from testing as not provided to the borrower. Buyer Comment (2023-12-14): please see attestation Reviewer Comment (2023-12-13): Any CD provided in the loan package for review must be tested unless there is a letter of attestation that it was never provide to the borrower and no data in the file indicates the CD was provided to the borrower, per TRID Grid 4.0, Additional Considerations Row 3, The TPR firm can exclude an LE or CD from consideration if it was not provided to the consumer. Acceptable documentation is a lender attestation that it was not provided to the consumer. (This is only applicable if the document is not acknowledged by the consumer.) Please provide LOA to remove CD from testing. Buyer Comment (2023-12-12): seller: closing disclosure was never provided to the borrower. this cd was provided by the title company in order to balance fees. you can tell because none of the payment information or origination charges are on this CD. It is just title company fees

12/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221210460

[Redact]

[Redact]

30401444

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Closing Disclosure estimated to be provided on [Redact] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

The Closing Disclosure with a Closing Date of [Redact] is incomplete. The file does not contain any documentation to verify the Closing Disclosure was not provided to the borrower.

Reviewer Comment (2023-12-15): [Redact] received LOA to remove document(s) 0133, from testing as not provided to the borrower. Buyer Comment (2023-12-14): Please see attestation Reviewer Comment (2023-12-13): [Redact] received rebuttal comment that CD dated [Redact] is not a Closing disclosure. However, there is CD that was submitted in file issued [Redact] on Doc ID 0133. this is causing the testing to reflect CD is incomplete. If the CD was not provided to the borrower, please provide specific Attestation comments indicating the documents ID's were never provided to the borrower and [Redact] will review for re-testing. Buyer Comment (2023-12-12): seller: here isn't a closing disclosure with a closing date of [Redact].  The signed ICD was dated [Redact]

12/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Good Faith Redisclosure

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

221210460

[Redact]

[Redact]

30401445

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Interim Closing Disclosure Timing Irregular Transactions Test

TILA-RESPA Integrated Disclosure - Corrected Closing Disclosure provided on or after [Redact] contains a change in APR and was not received by borrower at least three (3) business days prior to consummation

The Closing Disclosure with a Closing Date of [Redact] is incomplete. The file does not contain any documentation to verify the Closing Disclosure was not provided to the borrower.

Reviewer Comment (2023-12-15): [Redact] received LOA to remove document(s) 0133, from testing as not provided to the borrower. Buyer Comment (2023-12-14): please see attestation Reviewer Comment (2023-12-13): Any CD provided in the loan package for review must be tested unless there is a letter of attestation that it was never provide to the borrower and no data in the file indicates the CD was provided to the borrower, per TRID Grid 4.0, Additional Considerations Row 3, The TPR firm can exclude an LE or CD from consideration if it was not provided to the consumer. Acceptable documentation is a lender attestation that it was not provided to the consumer. (This is only applicable if the document is not acknowledged by the consumer.)  Please provide LOA to remove CD from testing. Buyer Comment (2023-12-12): seller: The CD you are referring to with a closing date of [Redact] was not delivered in the closed loan package. It was the CD the attorney provided to [Redact] in order to balance their fees, which is why there isn't an issue date listed, because it was never issued to the borrower

12/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

TRID timing exception, no remediation available.

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221210460

[Redact]

[Redact]

30401447

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Supplement Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

Credit Supplement Fee. Fee Amount of [Redact] exceeds tolerance of [Redact]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2023-12-13): [Redact] received updated valid Changed Circumstance dated [Redact]. Buyer Comment (2023-12-12): Please see COC

12/13/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

221210460

[Redact]

[Redact]

30401448

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

The file contains a 1008; however, the 1008 does not contain the underwriter's name as required.

Reviewer Comment (2023-12-12): Received Approval, Exception cleared. Buyer Comment (2023-12-11): please see approval

12/12/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221210460

[Redact]

[Redact]

30401449

Credit

Missing Document

General

Missing Document

Missing Document: Credit Report - Gap not provided

Reviewer Comment (2023-12-13): Received Credit report-Gap, Exception cleared. Buyer Comment (2023-12-12): Please see UDM

12/13/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

221210460

[Redact]

[Redact]

30401450

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of [Redact] exceeds tolerance of [Redact].  Insufficient or no cure was provided to the borrower.

The Appraisal Fee increased from [Redact] on the initial Loan Estimate to [Redact] on the Loan Estimate dated [Redact] without a valid change of circumstance.

Reviewer Comment (2023-12-17): [Redact] received valid COC dated [Redact]. Buyer Comment (2023-12-15): COC with the additional details. Per appraiser: Complex due to more square footage to measure, lot size, additional research required to complete report. The house was brand new construction, 3 stories, more sq footage. Reviewer Comment (2023-12-15): [Redact] received COC stating "Due to the complex nature of this property" however we required additional information what caused the property to be complex in order to clear the exception. Kindly provide additional information in order to clear the exception. Buyer Comment (2023-12-14): Please see COC Reviewer Comment (2023-12-13): [Redact] received COC stating "complex nature of this property" however we required the reason as to what caused the property to be complex .Kindly provide detail reason for complexity in order to clear the exception. Buyer Comment (2023-12-12): seller: the COC. The appraiser increased his fee once he evaluated the complex nature of the property.

12/17/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

221210461

[Redact]

[Redact]

30401452

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

The fraud report reflects there is a loan associated with the property located on [Redact] in the amount of [Redact]. Documentation to verify property is owned free and clear is required.

Reviewer Comment (2023-12-15): Received Property History Report which shows property free & clear, Exception cleared. Buyer Comment (2023-12-14): uploaded in clarity Buyer Comment (2023-12-14): Please see property profile Reviewer Comment (2023-12-14): No new document has been uploaded please try uploading again, Exception remains. Buyer Comment (2023-12-13): Please see property profile

12/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Higher Priced QM (APOR)

Higher Priced QM (APOR)

No

221210461

[Redact]

[Redact]

30401453

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2023-12-14): E-Consent provided Buyer Comment (2023-12-14): uploaded to clarity Buyer Comment (2023-12-14): please see econsent Reviewer Comment (2023-12-14): No new documents received. Please try uploading again. Buyer Comment (2023-12-13): please see e consent

12/14/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Higher Priced QM (APOR)

Higher Priced QM (APOR)

No

221210461

[Redact]

[Redact]

30401456

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

The fraud report reflects there is a loan associated with the property located on [Redact] in the amount of [Redact]. Documentation to verify property is owned free and clear is required.

Reviewer Comment (2023-12-15): Received Property History Report which shows property free & clear, Exception cleared. Buyer Comment (2023-12-14): uploaded in clarity Reviewer Comment (2023-12-14): No new document has been uploaded please try uploading again, Exception remains. Buyer Comment (2023-12-13): Please see property profiles

12/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Higher Priced QM (APOR)

Higher Priced QM (APOR)

No

221210461

[Redact]

[Redact]

30401457

Credit

Asset

Asset Documentation

Asset

Missing Document: Gift Letter not provided

The gift letter in the file is for [Redact]; however, per the wire confirmation and the deposit into the borrowers' account, the gift amount is [Redact]. A corrected gift letter is required.

Reviewer Comment (2023-12-15): Received Gift Letter, Exception cleared. Buyer Comment (2023-12-14): please see property report Buyer Comment (2023-12-14): uploaded in Clarity Buyer Comment (2023-12-14): please see gift letter Reviewer Comment (2023-12-14): No new document has been uploaded please try uploading again, Exception remains. Buyer Comment (2023-12-13): Please see gift letter

12/15/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Higher Priced QM (APOR)

Higher Priced QM (APOR)

No

221210461

[Redact]

[Redact]

30401460

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered to Borrower(s) within three (3) business days of application. Initial Loan Estimate dated [Redact] was electronically provided without or prior to borrower's consent to receive electronic disclosures. Failure to comply with the provisions of the E-Sign Act and failure to provide good faith estimate of fees timely may result in additional fee tolerance violations.

Reviewer Comment (2023-12-25): [Redact] received e-consent dated [Redact]. Buyer Comment (2023-12-22): See attached Docusign ecert. Reviewer Comment (2023-12-20): The consumer went through the eConsent process accepted on [Redact], the consumer acknowledged the receipt of the LE on [Redact] But the loan application date was [Redact]. In the event the consumer had not provided eConsent by [Redact], then the lender should have sent the consumer the Loan Estimate through another means in accordance with the official interpretation reflected in Comment 19(e)(1)(iv)-2.  Provide proof borrower was sent Initial LE via other means than electronic delivery, as the e-consent was over 3 business days and acknowledged over 3 business days.  The LE would not have been provided electronically if borrower had not e-consented with the 3 business days after application. Buyer Comment (2023-12-20): 1003's, e-consent and LE's

12/25/2023

1

A

A

A

A

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Higher Priced QM (APOR)

Higher Priced QM (APOR)

No

221210464

[Redact]

[Redact]

30401470

Credit

Missing Document

General

Missing Document

Missing Document: Credit Report - Gap not provided

The file contains a refresh report dated [Redact]; however, the loan closed [Redact]; therefore, the refresh report is not within 10 days of closing.

Reviewer Comment (2023-12-29): A gap report was provided. Buyer Comment (2023-12-29): See attached gap report dated [Redact]

12/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

221210464

[Redact]

[Redact]

30401472

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The title report reflects the address as [Redact]; however, the note reflects [Redact].

Reviewer Comment (2023-12-29): An updated title commitment was provided. Buyer Comment (2023-12-29): reuploaded title Reviewer Comment (2023-12-29): An updated title was not found in the trailing docs. Buyer Comment (2023-12-29): See attached updated title on page 11

12/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

221210464

[Redact]

[Redact]

30401473

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

The hazard insurance reflects [Redact]; however, the note reflects [Redact].

Reviewer Comment (2024-01-12): Corrected HO6 provided Buyer Comment (2024-01-11): See attached HOI with correct address and ISAOA Reviewer Comment (2024-01-09): The corrected HO6 no longer reflects the ISAOA for the mortgagee. Buyer Comment (2024-01-08): HOI showing [Redact] Reviewer Comment (2024-01-05): The same HOI was provided that was previously provided. The Note reflects [Redact]. HOI reflects [Redact]. It is spelled wrong. Buyer Comment (2024-01-04): HOI does reflect [Redact]. Doc uploaded again and into Clarity Buyer Comment (2024-01-04): Hoi with correct street Reviewer Comment (2024-01-04): The same HOI with the incorrect address was provided again. The street name per Note is '[Redact]' but the HOI has '[Redact]'. Buyer Comment (2024-01-04): See attached updated HOI Reviewer Comment (2023-12-29): The street address still reflects [Redact] but the Note has [Redact]. The correct address should be [Redact] rather than [Redact]. Buyer Comment (2023-12-29): See attached updated HOI

01/12/2024

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

221210464

[Redact]

[Redact]

30401474

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The application reflects the borrower owes [Redact] in IRS payments with a monthly payment of [Redact]; however, the file does contain documentation to verify the monthly payment amount.

Reviewer Comment (2023-12-29): An IRS repayment letter was provided. Buyer Comment (2023-12-29): See attached IRS letter.

12/29/2023

1

C

A

C

A

C

A

C

A

C

A

[Redact]

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No